Civic Intelligence

Raza Development Fund Inc.

990 • Fiscal year 2014 • EIN 52-1954196

Oct 01, 2013 to Sep 30, 2014 • Filed on Aug 14, 2015

Organization Profilewww.razafund.org

View Organization Page

1 E Washington StreetSuite 225085004

(602) 417-1403

Siviq Scores

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

Liabilities / Assets

75th percentile

0.63x

Higher debt load relative to assets than 75% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

94th percentile

6.64x

Higher debt load relative to revenue than 94% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Net Margin

86th percentile

34%

Higher net margin than 86% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

41st percentile

$396,621

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Asset Growth

93rd percentile

30%

Faster asset growth than 93% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$154,101,810

Up $35,760,805 (+30%) from 2013

Net Assets

Up

$56,624,386

Up $5,033,124 (+9.8%) from 2013

Liabilities

Up

$97,477,424

Up $30,727,681 (+46%) from 2013

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin86th percentile

Revenue

$14,677,007

No earlier filing loaded for comparison.

Expenses

Up

$9,643,883

Up $2,165,340 (+29%) from 2013

Net Income

$5,033,124

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$400M$300M$200M$100M$0Assets 2010: $105,018,275Liabilities 2010: $56,705,362Net Assets 2010: $48,312,9132010Assets 2011: $107,506,957Liabilities 2011: $57,040,682Net Assets 2011: $50,466,2752011Assets 2012: $110,738,524Liabilities 2012: $59,894,200Net Assets 2012: $50,844,3242012Assets 2013: $118,341,005Liabilities 2013: $66,749,743Net Assets 2013: $51,591,2622013Assets 2014: $154,101,810Liabilities 2014: $97,477,424Net Assets 2014: $56,624,3862014Assets 2015: $150,827,613Liabilities 2015: $92,703,228Net Assets 2015: $58,124,3852015Assets 2016: $171,847,679Liabilities 2016: $113,021,534Net Assets 2016: $58,826,1452016Assets 2017: $177,107,085Liabilities 2017: $112,493,754Net Assets 2017: $64,613,3312017Assets 2018: $210,608,320Liabilities 2018: $140,876,578Net Assets 2018: $69,731,7422018Assets 2019: $232,681,777Liabilities 2019: $162,293,210Net Assets 2019: $70,388,5672019Assets 2020: $267,668,702Liabilities 2020: $195,499,693Net Assets 2020: $72,169,0092020Assets 2021: $287,338,176Liabilities 2021: $208,641,212Net Assets 2021: $78,696,9642021Assets 2022: $296,838,353Liabilities 2022: $194,599,049Net Assets 2022: $102,239,3042022Assets 2023: $335,227,129Liabilities 2023: $227,395,188Net Assets 2023: $107,831,9412023Assets 2024: $363,067,878Liabilities 2024: $250,802,543Net Assets 2024: $112,265,3352024

Highlighted filing

2014

Assets$154,101,810
Liabilities$97,477,424
Net Assets$56,624,386
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$60M$40M$20M$0Expenses 2010: $5,256,6152010Expenses 2011: $4,325,4622011Expenses 2012: $6,379,3862012Expenses 2013: $7,478,5432013Revenue 2014: $14,677,007Expenses 2014: $9,643,883Net Income 2014: $5,033,1242014Revenue 2015: $11,746,648Expenses 2015: $10,246,649Net Income 2015: $1,499,9992015Revenue 2016: $9,691,173Expenses 2016: $9,687,707Net Income 2016: $3,4662016Revenue 2017: $19,457,001Expenses 2017: $13,087,811Net Income 2017: $6,369,1902017Revenue 2018: $17,305,775Expenses 2018: $12,489,760Net Income 2018: $4,816,0152018Revenue 2019: $17,322,425Expenses 2019: $16,665,600Net Income 2019: $656,8252019Revenue 2020: $19,838,701Expenses 2020: $17,092,489Net Income 2020: $2,746,2122020Revenue 2021: $23,229,153Expenses 2021: $16,701,198Net Income 2021: $6,527,9552021Revenue 2022: $48,137,884Expenses 2022: $24,595,544Net Income 2022: $23,542,3402022Revenue 2023: $26,318,340Expenses 2023: $20,725,703Net Income 2023: $5,592,6372023Revenue 2024: $25,660,512Expenses 2024: $23,615,314Net Income 2024: $2,045,1982024

Highlighted filing

2014

Revenue$14,677,007
Expenses$9,643,883
Net Income$5,033,124
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
Aug 14, 2015
Return Version
2013v4.0
Gross Receipts
$14,677,007
Mission and Program Overview

Mission

Raza Development Fund's mission is to create financing solutions that increase opportunities for the Latino community and low-income families in the areas of affordable housing, education and health care. RDF truly invests in the dreams and hopes of NCLR Affiliates and other not-for-profit social service organizations building up their communities, and thereby touching the lives of thousands of families.

see schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$75,253,302$117,727,810▲ $42,474,508
Cash and Non-Interest-Bearing Accounts$25,725,308$16,583,009▼ $9,142,299
Savings and Temporary Cash Investments$15,397,760$16,329,321▲ $931,561
Pledges and Grants Receivable$1,270,246$1,829,763▲ $559,517
Investments Other Securities$320,318$1,019,405▲ $699,087
Prepaid Expenses and Deferred Charges$62,143$315,848▲ $253,705
Land, Buildings, and Equipment, Net$311,928$296,654▼ $15,274
Accounts Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$118,341,005$154,101,810▲ $35,760,805
Other Assets Total$0$0→ $0
Liabilities
Unsecured Notes Loans Payable$58,400,000$58,400,000→ $0
Mortgage Notes Payable Secured by Investment Property$6,800,000$37,050,000▲ $30,250,000
Deferred Revenue$595,983$1,097,690▲ $501,707
Other Liabilities$244,182$438,022▲ $193,840
Accounts Payable and Accrued Expenses$608,578$420,712▼ $187,866
Grants Payable$101,000$71,000▼ $30,000
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$66,749,743$97,477,424▲ $30,727,681
Net Assets / Fund Balance
Unrestricted Net Assets$36,559,808$40,916,323▲ $4,356,515
Temporarily Rstr Net Assets$15,031,454$15,708,063▲ $676,609
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$51,591,262$56,624,386▲ $5,033,124
Total Liabilities and Net Assets / Fund Balance$118,341,005$154,101,810▲ $35,760,805

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$106,210$309,503$415,713
Buildings$169,856$6,168$176,024
Leasehold Improvements$20,588$20,919$41,507
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Janet MurguiaBoard Member-$260,121$59,326$319,447
Kenneth I TrujilloBoard Member-$285,721-$285,721
Tom EspinozaPresident & CEOFT$197,257$68,921$266,178
Rodrigo VelaCFOFT$166,830$43,946$210,776
Mark Van BruntCOOFT$128,365$38,219$166,584
Angela StephensonDirectorFT$115,012$14,126$129,138
Guadalupe GomezDirectorFT$108,415$13,915$122,330
Silvia UrrutiaDirectorFT-$21,889$21,889

Board Members and Trustees

NameTitle
James FieldChairman
Arabella MartinezVice-Chair
Art RuizBoard Member
Janis BowdlerBoard Member
Joseph ReillyBoard Member
Kimberly Latimer NelliganBoard Member
Roldan TrujilloBoard Member
David ClowerCCO

Highest Paid Contractors

ContractorServicesLocationCompensation
Veracruz Advisory LLCLoan Services-$109,998
Revenue and Support

Revenue Composition

Contributions and Grants
$6,301,500
Program Service Revenue
$8,171,030
Investment Income
$115,797
Other Revenue
$88,680
All Other Contributions
$6,301,500
Change in Net Assets
$5,033,124

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,677,007
Total Revenue per Audited Statements
$14,677,007
Total Revenue per Form 990
$14,677,007
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,128,063
Salaries, Compensation, and Employee Benefits$3,020,863
Grants and Similar Amounts Paid$494,957
Total Fundraising Expense$81,859
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$2,108,753--$2,108,753
Current Officers, Directors, Trustees, and Key Employees$978,184$551,392$30,225$1,559,801
Fees for Services Other$1,195,058$74,953$573$1,270,584
Other Salaries and Wages$600,759$337,786$18,768$957,313
Grants to Domestic Orgs$494,957--$494,957
Travel$365,897$80,936$8,503$455,336
Other Employee Benefits$182,780$109,497$5,324$297,601
Advertising$29,163$203,924$287$233,374
Occupancy$144,880$77,657$9,413$231,950
Other Expenses$205,120$24,052$1,921$231,093
Payroll Taxes$93,046$52,142$2,762$147,950
Insurance$106,848--$106,848
Fees for Services Accounting$69,864$28,334-$98,198
Fees for Services Legal$58,882--$58,882
Pension Plan Contributions$36,591$20,448$1,159$58,198
Office Expenses$44,639$10,566$1,254$56,459
Depreciation Depletion$54,103--$54,103
Information Technology$23,009$3,810$1,108$27,927
Fees for Services Management-$5,315-$5,315
All Other Expenses-$-46,017-$-46,017
Total Functional Expenses$8,015,557$1,546,467$81,859$9,643,883

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,643,883
Total Expenses per Audited Statements$9,643,883
Total Expenses per Form 990$9,643,883
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
45-5571815-501(c)(3)community development$100,000
45-2081460-501(c)(3)community development$70,000
86-0125352-501(c)(1)community development$66,300
26-1135065-501(c)(3)community development$50,000
90-0962996-501(c)(3)community development$50,000
01-0552300-501(c)(3)community development$43,657
23-2051143-501(c)(3)community development$25,000
36-4607285-501(c)(3)community development$20,000
45-3074258-501(c)(3)community development$15,000
20-1854310-501(c)(3)community development$15,000
93-0739188-501(c)(3)community development$15,000
23-7091708-501(c)(3)community development$6,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unfunded commitments$304,760
Pledges Held In Trust$132,444
Due to National Council of La Raza$818
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2:

“Explanation: Joseph Reilly Director is a Chief Executive at CDT, where James Feild is Director and represents an investor.”

Form 990, Part VI, Section B, line 11:

“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 Chief Financial Officer. A final draft of the Form 990 is provided to Board of Directors for review and comment before it is filed with the IRS. Any questions or issues are addressed and resolved with the Chief Financial Officer.”

Form 990, Part VI, Section B, Line 12C:

“Prior to the completion of the 990, at a meeting of the Board of Directors, the Conflict of Interest Policy along with a questionnaire is presented for each of the Board Members, as well as Key Staff to review, document, or disclose.”

Form 990, Part VI, Section B, Line 15A:

“The Personnel Committee is charged with the performance review of the President & CEO. The review is based on the annual operating goals established for the organization; these include production, financial, fund raising and operation goals. Based on the overall performance the committee approves a salary modification and can establish a bonus pool for the rest of the staff.”

Form 990, Part VI, Section C, Line 19:

“The organization maintains an updated copy of its governing documents conflict of interest policy, and financial statements available for public review.”

Filing and Contact Details

Filer

EIN
52-1954196
In Care Of
% RODRIGO VELA CFO
Phone
6024171403

Signing Officer

Name
Tom Espinoza
Title
President and CEO
Phone
6024171403
Signed
2015-08-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Espinoza
Formed
1996
Legal Domicile
Dc
Voting Board Members
10
Independent Board Members
8
Employees
22
Volunteers
8

Preparer

Preparer
Joyce Underwood
Phone
6024171403
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1, Description of Organization Mission:

“Raza Development Fund's mission is to create financing solutions that increase opportunities for the Latino community and low-income families in the areas of affordable housing, education and health care. RDF truly invests in the dreams and hopes of NCLR Affiliates and other not-for-profit social service organizations building up their communities, and thereby touching the lives of thousands of families.”

Form 990, Part XII, Line 2C

“There have been no changes during the year in the process”

Form 990 Part IX Line 11G

“Description:general consulting total fees:1270584”

Financial Statement Notes

Part IV, line 2B:

“NMTC deposits. There were no balances at 9/30/2014”

Part X, Line 2:

“Under accounting guidance, interest and penalties, if any, imposed by the U.S. Internal revenue Service (IRS) or other taxing jurisdictions are recorded to interest expense and other operating costs, respectively. There were no interest or penalties recorded for the years ended September 30, 2014 and 2013. The tax years subject to examination by major jurisdictions include the years 2008 and forward by the IRS and the District of Columbia.”

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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0Raza Development Fund's mission is to create financing solutions that increase opportunities for the Latino community and low-income families in the areas of affordable housing, education and health care. RDF truly invests in the dreams and hopes of NCLR Affiliates and other not-for-profit social service organizations building up their communities, and thereby touching the lives of thousands of families.
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0109497
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0182780
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0297601
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IRS990/OtherExpensesGrp/Desc1SERVICE CHARGES
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IRS990/OtherExpensesGrp/FundraisingAmt164
IRS990/OtherExpensesGrp/FundraisingAmt21921
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$154,101,810
Liabilities
$97,477,424
Net assets
$56,624,386
Revenue
$14,677,007
Expenses
$9,643,883
Net income
$5,033,124
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$363$251$112$25.7$23.6$2.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$335$227$108$26.3$20.7$5.59
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$297$195$102$48.1$24.6$23.5
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$287$209$78.7$23.2$16.7$6.53
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$268$195$72.2$19.8$17.1$2.75
2019Detailed filing. Detailed filing data is available for this year.$233$162$70.4$17.3$16.7$0.66
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$211$141$69.7$17.3$12.5$4.82
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$177$112$64.6$19.5$13.1$6.37
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$172$113$58.8$9.69$9.69$0.00
2015Detailed filing. Detailed filing data is available for this year.$151$92.7$58.1$11.7$10.2$1.50
2014Detailed filing. Detailed filing data is available for this year.$154$97.5$56.6$14.7$9.64$5.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$118$66.7$51.6$7.48
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$111$59.9$50.8$6.38
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$108$57.0$50.5$4.33
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$105$56.7$48.3$5.26