Civic Intelligence

City First Foundation

990 • Fiscal year 2019 • EIN 52-1847278

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 15, 2020

1432 U Street NWWashington, DC 20009

(202) 243-7103

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

66th percentile

0.02x

Higher debt load relative to assets than 66% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

91st percentile

0.33x

Higher debt load relative to revenue than 91% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

16th percentile

-20%

Higher net margin than 16% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

31st percentile

-8.3%

Faster asset growth than 31% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

4th percentile

-78%

Faster revenue growth than 4% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Down

$361,975

Down $32,923 (-8.3%) from 2018

Net Assets

Down

$356,244

Down $3,447 (-1.0%) from 2018

Liabilities

Down

$5,731

Down $29,476 (-84%) from 2018

Revenue

Down

$17,500

Down $61,723 (-78%) from 2018

Expenses

Down

$20,947

Down $56,614 (-73%) from 2018

Net Income

Down

-$3,447

Down $5,109 (-307%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2012: $200,000Liabilities 2012: $0Net Assets 2012: $200,0002012Assets 2013: $141,191Liabilities 2013: $0Net Assets 2013: $141,1912013Assets 2014: $154,818Liabilities 2014: $36Net Assets 2014: $154,7822014Assets 2015: $227,067Liabilities 2015: $0Net Assets 2015: $227,0672015Assets 2016: $383,568Liabilities 2016: $0Net Assets 2016: $383,5682016Assets 2017: $360,109Liabilities 2017: $2,080Net Assets 2017: $358,0292017Assets 2018: $394,898Liabilities 2018: $35,207Net Assets 2018: $359,6912018Assets 2019: $361,975Liabilities 2019: $5,731Net Assets 2019: $356,2442019Assets 2020: $349,127Liabilities 2020: $7,398Net Assets 2020: $341,7292020Assets 2021: $337,400Liabilities 2021: $0Net Assets 2021: $337,4002021Assets 2022: $334,518Liabilities 2022: $9,624Net Assets 2022: $324,8942022

Highlighted filing

2019

Assets$361,975
Liabilities$5,731
Net Assets$356,244

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2012: $200,000Expenses 2012: $0Net Income 2012: $200,0002012Revenue 2013: $166,025Expenses 2013: $224,834Net Income 2013: -$58,8092013Revenue 2014: $0Expenses 2014: $12,742Net Income 2014: -$12,7422014Revenue 2015: $183,865Expenses 2015: $111,580Net Income 2015: $72,2852015Revenue 2016: $281,978Expenses 2016: $125,477Net Income 2016: $156,5012016Revenue 2017: $95,802Expenses 2017: $121,341Net Income 2017: -$25,5392017Revenue 2018: $79,223Expenses 2018: $77,561Net Income 2018: $1,6622018Revenue 2019: $17,500Expenses 2019: $20,947Net Income 2019: -$3,4472019Revenue 2020: $0Expenses 2020: $14,515Net Income 2020: -$14,5152020Revenue 2021: $0Expenses 2021: $4,329Net Income 2021: -$4,3292021Revenue 2022: $0Expenses 2022: $12,506Net Income 2022: -$12,5062022

Highlighted filing

2019

Revenue$17,500
Expenses$20,947
Net Income-$3,447
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 15, 2020
Return Version
2019v5.1
Gross Receipts
$17,500
Mission and Program Overview

Mission

Promoting and sustaining economic and social health in targeted low-income and moderate-income neighborhoods in the district of columbia.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$394,550$361,627▼ $32,923
Rtn Earn Endowment Incm Other Fnds$359,691$356,244▼ $3,447
Accounts Receivable$348$348→ $0
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$394,898$361,975▼ $32,923
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$35,207$5,731▼ $29,476
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$35,207$5,731▼ $29,476
Net Assets / Fund Balance
Total Net Assets Fund Balance$359,691$356,244▼ $3,447
Total Liabilities and Net Assets / Fund Balance$394,898$361,975▼ $32,923
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brian E ArgrettPresident, Chairman & Director
Gloria NaudenDirector
Audrey PhillipsSecretary
Melrose NathanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$17,500
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$17,500
Change in Net Assets
$-3,447
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$20,947
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$10,539$3,681$0$14,220
Fees for Services Accounting-$3,920-$3,920
Conferences and Meetings$2,807--$2,807
Total Functional Expenses$13,346$7,601$0$20,947
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

PART VI, SECTION B, LINE 11B:

The organization's Form 990 undergoes a number of internal and external reviews before it is filed with the IRS. The return is prepared by the organization's public accounting firm, BDO USA and is reviewed by the organization's President & Treasurer. A final draft of the Form 990 is provided to each member of the organization's Board of Directors before it is filed with the IRS.

PART VI, SECTION C, LINE 19:

Governing documents and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
City First Foundation
EIN
52-1847278
In Care Of
% AUDREY PHILLIPS
Phone
2022437103
Address
1432 U STREET NW, WASHINGTON, DC 20009

Signing Officer

Name
Brian E Argrett
Title
President
Phone
2022437103
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian E Argrett
Formed
1993
Legal Domicile
Dc
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Bdo USA Llp
Address
8401 GREENSBORO DRIVE 800, MCLEAN, VA 22102
Preparer
Joyce Underwood
Phone
7038930600
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11G

Description:support/outreach total fees:3000

Form 990 Part IX Line 11G

Description:administrative services total fees:7539

Form 990 Part IX Line 11G

Description:intercompany salaries total fees:3681

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
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IRS990ScheduleA/FactsAndCircumstancesTestTxt0FACTS-AND-CIRCUMSTANCES TEST City First Foundation (formerly known as City First Community) was established in 1994 with a single purpose to close the economic gap of low-income neighborhoods by creating a financial institution and other services solely focused on community development. Community development leaders in the Washington DC area had gathered to address concerns about the toll on low-income neighborhoods from decades of disinvestment and discrimination due to lack of access to credit and other financial services. From this gathering, these community leaders envisioned a financial institution to help these "forgotten" neighborhoods. Created to promote and sustain economic and social health in targeted low and moderate income neighborhoods in the District of Columbia, its primary activity is bringing together practitioners, developers, policy makers, government officials and philanthropists to discuss how best to promote healthy communities, economic development and workforce enhancements. The primary sources of support for CFFs activity comes from local/regional mission-oriented individuals, partnerships and corporations dedicated to community development through expansion of economic growth, accessibility to capital and/or basic services in/to under-served communities. In 2012, the governing board of CFF saw a need to assemble the noted participants in a collaborative effort to address the economic deficiencies in DC and decided to host an annual community development conference for public benefit. By 2016, public/community interest and public participation had grown significantly and in an effort to leverage this heighten interest and maintain continuance of this public service during periods of uncertainty, City First Bank provided an additional donation of $200,000. This contribution results in CFF failing to meet the 1/3 public support test in both 2018 and 2019. Public support, however, is 29.46% in 2019 and 30.50% in 2018, very close to 1/3 and significantly above 10%. Without this influx of support the public support percentage would be approximately 70%. In support of the public nature of the organization we provide that. 1. Support is from a number of unrelated donors, with a one-time larger contribution from CFB to support a specific objective. 2. The organization maintains a definitive program for accomplishing its charitable work and provides services directly for the benefit of the general public on a continuous basis. 3. The activities of the organization are likely to appeal to persons with broad common interests or purposes and support a charitable class in need. Also, a large percentage of CFFs support overall is derived from a broad base of financial institutions and/or businesses that are aligned with CFFs mission with long-term ties to/significant participation in the U.S. Treasury Departments Community Development Financial Institutions (CFDI) Fund - a program designed to generate economic growth, promote revitalization and opportunities in distressed communities. And while this support is not directly from a government unit, this support does directly support this governmental program activity and consequently provide services that relieve the government.
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt017500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt074500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt082000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0263055
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0154900
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0591955
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt066413
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.29464
IRS990ScheduleA/PublicSupportPY170Pct00.30498
IRS990ScheduleA/PublicSupportTotal170Amt0174412
IRS990ScheduleA/SubstantialContributorsTotAmt0417543
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt017500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt074500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt082000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0263055
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0154900
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0591955
IRS990ScheduleA/TotalSupportAmt0591955
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization's Form 990 undergoes a number of internal and external reviews before it is filed with the IRS. The return is prepared by the organization's public accounting firm, BDO USA and is reviewed by the organization's President & Treasurer. A final draft of the Form 990 is provided to each member of the organization's Board of Directors before it is filed with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION:SUPPORT/OUTREACH TOTAL FEES:3000
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DESCRIPTION:ADMINISTRATIVE SERVICES TOTAL FEES:7539
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DESCRIPTION:INTERCOMPANY SALARIES TOTAL FEES:3681
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI, SECTION B, LINE 11B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI, SECTION C, LINE 19:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990 PART IX LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990 PART IX LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PART IX LINE 11G
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0521951694
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0DC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0COMMERCIAL BA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0CITY FIRST BANK OF DC NA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt01432 U STREET NW
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0WASHINGTON
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0DC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd020009
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt03681
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0cash paid
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0City First Bank
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0O
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0DC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0394898
IRS990/TotalAssetsEOYAmt0361975
IRS990/TotalAssetsGrp/BOYAmt0394898
IRS990/TotalAssetsGrp/EOYAmt0361975
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt017500
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07601
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt013346
IRS990/TotalFunctionalExpensesGrp/TotalAmt020947
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt035207
IRS990/TotalLiabilitiesEOYAmt05731
IRS990/TotalLiabilitiesGrp/BOYAmt035207
IRS990/TotalLiabilitiesGrp/EOYAmt05731
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0359691
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0356244
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt013346
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt017500
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0394898
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0361975
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01432 U STREET NW
IRS990/USAddress/CityNm0WASHINGTON
IRS990/USAddress/StateAbbreviationCd0DC
IRS990/USAddress/ZIPCd020009
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0CITYFIRSTFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0false

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