Civic Intelligence

Washington Area Community Investment Fund Inc.

990 • Fiscal year 2021 • EIN 54-1442466

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 13, 2022

Organization ProfileWWW.WACIF.ORG

View Organization Page

2012 Rhode Island Avenue NEWashington, DC 20018

(202) 529-5505

Siviq Scores

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

Liabilities / Assets

70th percentile

0.40x

Higher debt load relative to assets than 70% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

77th percentile

0.79x

Higher debt load relative to revenue than 77% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

81st percentile

39%

Higher net margin than 81% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

49th percentile

$169,215

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

80th percentile

27%

Faster asset growth than 80% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

60th percentile

19%

Faster revenue growth than 60% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$14,906,500

Up $3,179,618 (+27%) from 2020

Net Assets

Up

$8,912,017

Up $2,941,997 (+49%) from 2020

Liabilities

Up

$5,994,483

Up $237,621 (+4.1%) from 2020

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin81st percentile

Revenue

Up

$7,620,930

Up $1,223,739 (+19%) from 2020

Expenses

Up

$4,660,784

Up $1,925,120 (+70%) from 2020

Net Income

Down

$2,960,146

Down $701,381 (-19%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2010: $4,183,020Liabilities 2010: $3,965,401Net Assets 2010: $217,6192010Assets 2011: $2,654,975Liabilities 2011: $2,461,018Net Assets 2011: $193,9572011Assets 2012: $4,068,202Liabilities 2012: $3,983,644Net Assets 2012: $84,5582012Assets 2013: $4,270,210Liabilities 2013: $4,073,372Net Assets 2013: $196,8382013Assets 2014: $5,332,810Liabilities 2014: $5,101,889Net Assets 2014: $230,9212014Assets 2015: $4,590,411Liabilities 2015: $4,342,173Net Assets 2015: $248,2382015Assets 2016: $4,106,767Liabilities 2016: $4,512,842Net Assets 2016: -$406,0752016Assets 2017: $4,205,842Liabilities 2017: $4,526,921Net Assets 2017: -$321,0792017Assets 2018: $4,794,433Liabilities 2018: $3,990,258Net Assets 2018: $804,1752018Assets 2019: $6,557,543Liabilities 2019: $4,249,050Net Assets 2019: $2,308,4932019Assets 2020: $11,726,882Liabilities 2020: $5,756,862Net Assets 2020: $5,970,0202020Assets 2021: $14,906,500Liabilities 2021: $5,994,483Net Assets 2021: $8,912,0172021Assets 2022: $16,503,969Liabilities 2022: $5,371,145Net Assets 2022: $11,132,8242022Assets 2023: $14,335,295Liabilities 2023: $6,391,482Net Assets 2023: $7,943,8132023Assets 2024: $12,057,310Liabilities 2024: $6,369,850Net Assets 2024: $5,687,4602024

Highlighted filing

2021

Assets$14,906,500
Liabilities$5,994,483
Net Assets$8,912,017
Open 2021 Filing

Operations Trend

Revenue Growth60th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2010: $911,656Expenses 2010: $568,991Net Income 2010: $342,6652010Revenue 2011: $836,261Expenses 2011: $859,067Net Income 2011: -$22,8062011Revenue 2012: $785,410Expenses 2012: $895,138Net Income 2012: -$109,7282012Revenue 2013: $1,359,614Expenses 2013: $1,240,558Net Income 2013: $119,0562013Revenue 2014: $1,378,846Expenses 2014: $1,344,763Net Income 2014: $34,0832014Revenue 2015: $1,106,683Expenses 2015: $1,089,366Net Income 2015: $17,3172015Revenue 2016: $967,314Expenses 2016: $1,621,627Net Income 2016: -$654,3132016Revenue 2017: $1,328,274Expenses 2017: $1,243,278Net Income 2017: $84,9962017Revenue 2018: $3,170,161Expenses 2018: $2,044,907Net Income 2018: $1,125,2542018Revenue 2019: $3,904,649Expenses 2019: $2,050,331Net Income 2019: $1,854,3182019Revenue 2020: $6,397,191Expenses 2020: $2,735,664Net Income 2020: $3,661,5272020Revenue 2021: $7,620,930Expenses 2021: $4,660,784Net Income 2021: $2,960,1462021Revenue 2022: $9,086,978Expenses 2022: $6,866,291Net Income 2022: $2,220,6872022Revenue 2023: $7,616,507Expenses 2023: $10,848,582Net Income 2023: -$3,232,0752023Revenue 2024: $4,141,530Expenses 2024: $6,386,456Net Income 2024: -$2,244,9262024

Highlighted filing

2021

Revenue$7,620,930
Expenses$4,660,784
Net Income$2,960,146
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 13, 2022
Return Version
2021v4.2
Gross Receipts
$7,620,930
Mission and Program Overview

Mission

The Washington Area Community Investment Fund (Wacif) is a nonprofit community loan fund focused on increasing equity and economic opportunity in the Washington, DC area's underserved communities. Wacif's mission is driven is driven by three strategic pillars: inclusive entrepreneurship, community wealth building, and equitable economic opportunity, and is fulfilled by providing access to capital products and services, and capacity building advisory services to low- and moderate-income entrepreneurs.

To increase equity and economic opportunity by investing knowledge, social, and financial capital in low- and moderate-income washington area entrepreneurs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$7,037,902$9,460,637▲ $2,422,735
Savings and Temporary Cash Investments$1,980,551$2,485,483▲ $504,932
Pledges and Grants Receivable$1,198,654$1,357,096▲ $158,442
Other Notes and Loans Receivable, Net$1,332,039$1,332,278▲ $239
Prepaid Expenses and Deferred Charges$71,300$114,200▲ $42,900
Land, Buildings, and Equipment, Net$79,305$112,282▲ $32,977
Accounts Receivable$7,524$15,900▲ $8,376
Loans From Officers Directors$7,000$8,000▲ $1,000
Total Assets$11,726,882$14,906,500▲ $3,179,618
Other Assets Total$19,607$28,624▲ $9,017
Liabilities
Unsecured Notes Loans Payable$4,710,239$3,759,970▼ $950,269
Deferred Revenue$615,124$1,230,441▲ $615,317
Mortgage Notes Payable Secured by Investment Property$0$735,145▲ $735,145
Accounts Payable and Accrued Expenses$166,709$121,557▼ $45,152
Escrow Account Liability$244,229$98,727▼ $145,502
Other Liabilities$13,561$40,643▲ $27,082
Total Liabilities$5,756,862$5,994,483▲ $237,621
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,821,193$4,787,340▲ $966,147
Net Assets With Donor Restrictions$2,148,827$4,124,677▲ $1,975,850
Total Net Assets Fund Balance$5,970,020$8,912,017▲ $2,941,997
Total Liabilities and Net Assets / Fund Balance$11,726,882$14,906,500▲ $3,179,618

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$72,678$84,558$157,236
Equipment$39,604$59,011$98,615
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Harold PettigrewChief Executive OfficerFT$138,375$30,840$169,215
Shauna YeldellChief Lending OfficerFT$124,560$41,162$165,722
Kevin Fryatt Chief Financial& Operations OfficerFT$125,160$32,124$157,284
Brendon Miller Chief Development& Communications OfficerFT$135,673$8,064$143,737
Kimberley GayleChief Programs OfficerFT$127,373$15,777$143,150

Board Members and Trustees

NameTitle
Nancy StarkBoard Chair - as of 4/2021
Rob RiordanBoard Vice Chair
Dawnn Leary Board Chair- Until 4/2021, Director
Alejandro GoldingBoard Member
Anne MorrisonBoard Member
Aquil StinsonBoard Member
Brian LewaldBoard Member
Devin Leary-hanebrinkBoard Member
Matt GlattingBoard Member
Ronald KellyBoard Member - Until 12/2021
Erin CrossettBoard Member - Until 6/2021
Nora Diamond-jonesSecretary
Brian NagendraTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,647,641
Program Service Revenue
$966,461
Investment Income
$4,252
Other Revenue
$2,576
All Other Contributions
$4,054,607
Change in Net Assets
$2,960,146
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,408,883
Grants and Similar Amounts Paid$1,177,732
Other Expenses$1,002,819
Total Fundraising Expense$683,031
Professional Fundraising Fees$71,350

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,090,120$521,767$102,252$1,714,139
Grants to Domestic Orgs$1,152,732--$1,152,732
Current Officers, Directors, Trustees, and Key Employees$20,447$9,436$296,616$326,499
Fees for Services Other$146,347$23,228-$169,575
Payroll Taxes$84,196$39,686$27,708$151,590
Advertising$43,032$31$106,431$149,494
Other Employee Benefits$98,538$40,521$105$139,164
Information Technology$59,796$42,601$30,612$133,009
Other Expenses$111,515$858$506$112,879
Occupancy$57,810$30,030$13,595$101,435
Interest$86,938$595$348$87,881
Pension Plan Contributions$51,357$24,432$1,702$77,491
Fees for Services Professional Fundraising--$71,350$71,350
Fees for Services Accounting$26,453$30,849$9,486$66,788
Office Expenses$26,818$30,466$6,083$63,367
Depreciation Depletion$27,043$10,083$3,514$40,640
Travel$18,758$10,942$5,701$35,401
Conferences and Meetings$17,873$4,902$4,572$27,347
Grants to Domestic Individuals$25,000--$25,000
Insurance$6,140$4,058$1,859$12,057
Fees for Services Legal$1,309$1,046$591$2,946
Total Functional Expenses$3,152,222$825,531$683,031$4,660,784
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
1231-1235 Good Hope Road IncWashington, DC501(c)(3)Property Acquisition$1,002,229
Beloved Community IncubatorWashington, DC501(c)(3)Operating Support$20,000
Sky Group Dc LLCWashington, DCN/aOperating Support$15,000
Tabard CorporationWashington, DCN/aOperating Support$10,787
BATTLE'S TRANSPORTATION INCWashington, DCN/aOperating Support$10,000
Cbs Design Development Corporation LLCWashington, DCN/aCollateral Support$10,000
Dynamic Solutions for the Aging LLCWashington, DCN/aOperating Support$10,000
Medici RoadWashington, DC501(c)(3)Operating Support$10,000
Southeast Restaurant Group LLCWashington, DCN/aOperating Support$10,000
Triune Solutions LLCWashington, DCN/aCollateral Support$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$71,350
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$7,000$8,000▲ $1,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Organizations$35,339
Interest Payable$2,892
Deferred Rent$2,412
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 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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 4

“During the year ended december 31, 2021, wacif updated its governing documents in the following areas: methodology of how services are provided, nomination & election of members, governance committee creation, terms of office, meeting frequency, attendence, as well as other sundry administrative items to best reflect the nature of its current mission and operations.”

Form 990, Part VI, Section B, Line 11B

“Firstly, wacif reviews the draft federal form 990 at the management level. Secondly, it is then presented to the board-level finance & audit committee for review. Once reviewed and deemed ready for approval, the finance & audit committee then provides a recommendation to the board of directors to approve the document. Upon board of directors approval, the federal form 990 is ready for filing with the internal revenue service.”

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

“Wacif's conflict of interest policy is signed by all staff and board members upon commencing their professional relationship to wacif. On an annual basis, all staff and board members re-sign wacif's conflict of interest policy, disclosing any potential conflicts of interest. Any conflicts of interest that exist are discussed among the board of directors.”

Form 990, Part VI, Section B, Line 15

“Determining compensation for the chief executive officer (ceo) is determined by the executive committee with approval from the full board of directors. Performance evaluations, salary surveys, expert knowledge and experience and organizational budget are often key determinants of the ceo's salary. The chief financial & operations officer and other key employees' salaries are determined by the ceo, in conjunction with budget availability overseen by the board of directors. Any subsequent adjustments to salary levels of officers or key employees are determined through review of job performance, goals, and within industry standards to ensure competitiveness.”

Form 990, Part VI, Section C, Line 19

“Wacif's governing documents, including its organizational bylaws, audited financial statements, federal form 990s, and conflict of interest policy, are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Washington Area Community Investment
EIN
54-1442466
Phone
2025295505
Address
2012 RHODE ISLAND AVENUE NE, WASHINGTON, DC 20018

Signing Officer

Name
Harold Pettigrew
Title
Chief Executive Officer
Phone
2025295505
Signed
2022-04-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Harold Pettigrew
Formed
1987
Legal Domicile
Va
Voting Board Members
11
Independent Board Members
9
Employees
27
Volunteers
16

Preparer

Firm
Marcum Llp
Address
1899 L STREET NW SUITE 850, WASHINGTON, DC 20036
Preparer
Frank H Smith
Phone
2022274000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Gain on conversion of note receivable 379,701.”

Financial Statement Notes

PART IV, LINE 2B:

“Wacif has been selected to manage and service certain funds and programs on behalf of the federal government, district of columbia, and other third party organizations. Such funds and programs include the small business administration (sba) microloan program, streetscape loan relief fund, district capitalized loan program, tenant settlement fund and cooperative assistance fund with purposes of providing loans to small businesses and other reimbursements to tenants in accordance with settlement agreements. These funds are included in restricted cash (assets) and funds held on behalf of others (liabilities) in the accompanying statement of financial position.”

PART X, LINE 2:

“Wacif performed an evaluation of uncertainty in income taxes for the year ended december 31, 2021, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status.”

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IRS990/Desc0SMALL BUSINESS ADVISORY SERVICES - WACIF PROVIDES A VARIETY OF ADVISORY SERVICES TO LOW-TO-MODERATE INCOME ENTREPRENEURS TO DRIVE EQUITABLE AND OPPORTUNITY IN UNDERSERVED DC AREA COMMUNITIES. WACIF'S SMALL BUSINESS ADVISORY EXPERTISE AND OFFERINGS COVER TOPICS INCLUDING BUSINESS PLANNING, MARKETING, FINANCIAL STATEMENTS, LAW, REAL ESTATE AND GETTING TRANSACTION-READY. OUR OFFERINGS INCLUDE GROUP CLASSES, ONE-ON-ONE ADVISEMENT ON SPECIFIC CAPACITY BUILDING ISSUES TO IDENTIFY AREAS OF GROWTH, AND INTENSIVE, COHORT-BASED PROGRAMS LIKE OUR ASCEND CAPITAL ACCELERATOR, WHICH FEATURED THE ASCEND.HER COHORT, WITH SPECIALIZED SUPPORT FOR A COHORT OF WOMEN ENTREPRENEURS OF COLOR. IN 2021, IN RESPONSE TO THE COVID-19 PANDEMIC, WACIF DESIGNED AND DEPLOYED ADVISORY SERVICES TO SUPPORT THE RESILIENCE AND RECOVERY OF UNDERSERVED ENTREPRENEURS. WACIF MORE PROVIDED MORE THAN 1,500 UNITS OF TECHNICAL ASSISTANCE SMALL BUSINESS AND NONPROFIT CLIENTS; OFFERING SPECIALIZED FINANCIAL AND ADVISORY SERVICES THROUGH GREATER WASHINGTON, DC ENTERPRISING WOMEN OF COLOR BUSINESS CENTER, THE GREATER WASHINGTON, DC ENTREPRENEURS OF COLOR FUND, THE MINNESOTA AVENUE MAIN STREET PROGRAM, AND THE GREATER WASHINGTON CENTER FOR EMPLOYEE OWNERSHIP
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IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OfficerInd6X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt015340
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130697
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt221611
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt38064
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt415777
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
IRS990/Form990PartVIISectionAGrp/PersonNm0HAROLD PETTIGREW
IRS990/Form990PartVIISectionAGrp/PersonNm1SHAUNA YELDELL
IRS990/Form990PartVIISectionAGrp/PersonNm2KEVIN FRYATT CHIEF FINANCIAL
IRS990/Form990PartVIISectionAGrp/PersonNm3BRENDON MILLER CHIEF DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/PersonNm4KIMBERLEY GAYLE
IRS990/Form990PartVIISectionAGrp/PersonNm5NANCY STARK
IRS990/Form990PartVIISectionAGrp/PersonNm6DAWNN LEARY BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/PersonNm7ROB RIORDAN
IRS990/Form990PartVIISectionAGrp/PersonNm8NORA DIAMOND-JONES
IRS990/Form990PartVIISectionAGrp/PersonNm9BRIAN NAGENDRA
IRS990/Form990PartVIISectionAGrp/PersonNm10ERIN CROSSETT
IRS990/Form990PartVIISectionAGrp/PersonNm11MATT GLATTING
IRS990/Form990PartVIISectionAGrp/PersonNm12ALEJANDRO GOLDING
IRS990/Form990PartVIISectionAGrp/PersonNm13RONALD KELLY
IRS990/Form990PartVIISectionAGrp/PersonNm14DEVIN LEARY-HANEBRINK
IRS990/Form990PartVIISectionAGrp/PersonNm15BRIAN LEWALD
IRS990/Form990PartVIISectionAGrp/PersonNm16ANNE MORRISON
IRS990/Form990PartVIISectionAGrp/PersonNm17AQUIL STINSON
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0153875
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt1135025
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2135673
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt3135673
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt4127373
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHIEF LENDING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt2& OPERATIONS OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt3& COMMUNICATIONS OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHIEF PROGRAMS OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD CHAIR - AS OF 4/2021
IRS990/Form990PartVIISectionAGrp/TitleTxt6- UNTIL 4/2021, DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt9TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER - UNTIL 6/2021
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER - UNTIL 12/2021
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01987
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt011
IRS990/GovernmentGrantsAmt02593034
IRS990/GrantAmt01140017
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt025000
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt025000
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01152732
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01152732
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt07620930
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt05
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt030612
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt042601
IRS990/InformationTechnologyGrp/ProgramServicesAmt059796
IRS990/InformationTechnologyGrp/TotalAmt0133009
IRS990/InsuranceGrp/FundraisingAmt01859
IRS990/InsuranceGrp/ManagementAndGeneralAmt04058
IRS990/InsuranceGrp/ProgramServicesAmt06140
IRS990/InsuranceGrp/TotalAmt012057
IRS990/InterestGrp/FundraisingAmt0348
IRS990/InterestGrp/ManagementAndGeneralAmt0595
IRS990/InterestGrp/ProgramServicesAmt086938
IRS990/InterestGrp/TotalAmt087881
IRS990/InvestmentIncomeGrp/ExclusionAmt04252
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt04252
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt0382
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0143569
IRS990/LandBldgEquipBasisNetGrp/BOYAmt079305
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0112282
IRS990/LandBldgEquipCostOrOtherBssAmt0255851
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd01
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt07000
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt08000
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE WASHINGTON AREA COMMUNITY INVESTMENT FUND (WACIF) IS A NONPROFIT COMMUNITY LOAN FUND FOCUSED ON INCREASING EQUITY AND ECONOMIC OPPORTUNITY IN THE WASHINGTON, DC AREA'S UNDERSERVED COMMUNITIES. WACIF'S MISSION IS DRIVEN IS DRIVEN BY THREE STRATEGIC PILLARS: INCLUSIVE ENTREPRENEURSHIP, COMMUNITY WEALTH BUILDING, AND EQUITABLE ECONOMIC OPPORTUNITY, AND IS FULFILLED BY PROVIDING ACCESS TO CAPITAL PRODUCTS AND SERVICES, AND CAPACITY BUILDING ADVISORY SERVICES TO LOW- AND MODERATE-INCOME ENTREPRENEURS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0735145
IRS990/NetAssetsOrFundBalancesBOYAmt05970020
IRS990/NetAssetsOrFundBalancesEOYAmt08912017
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-397850
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt03821193
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt04787340
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt013595
IRS990/OccupancyGrp/ManagementAndGeneralAmt030030
IRS990/OccupancyGrp/ProgramServicesAmt057810
IRS990/OccupancyGrp/TotalAmt0101435
IRS990/OfficeExpensesGrp/FundraisingAmt06083
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt030466
IRS990/OfficeExpensesGrp/ProgramServicesAmt026818
IRS990/OfficeExpensesGrp/TotalAmt063367
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt019607
IRS990/OtherAssetsTotalGrp/EOYAmt028624
IRS990/OtherChangesInNetAssetsAmt0379701
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0105
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt040521
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt098538
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0139164
IRS990/OtherExpensesGrp/Desc0LENDING RELATED COSTS
IRS990/OtherExpensesGrp/FundraisingAmt0506
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0858
IRS990/OtherExpensesGrp/ProgramServicesAmt0111515
IRS990/OtherExpensesGrp/TotalAmt0112879
IRS990/OtherLiabilitiesGrp/BOYAmt013561
IRS990/OtherLiabilitiesGrp/EOYAmt040643
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0REBATES
IRS990/OtherRevenueMiscGrp/ExclusionAmt02576
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt02576
IRS990/OtherRevenueTotalAmt02576
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0102252
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0521767
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01090120
IRS990/OtherSalariesAndWagesGrp/TotalAmt01714139
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt01332039
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt01332278
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt027708
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt039686
IRS990/PayrollTaxesGrp/ProgramServicesAmt084196
IRS990/PayrollTaxesGrp/TotalAmt0151590
IRS990/PensionPlanContributionsGrp/FundraisingAmt01702
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt024432
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt051357
IRS990/PensionPlanContributionsGrp/TotalAmt077491
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01198654
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01357096
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt071300
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0114200
IRS990/PrincipalOfficerNm0HAROLD PETTIGREW
IRS990/ProfessionalFundraisingInd01
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0FUND MANAGEMENT INCOME
IRS990/ProgramServiceRevenueGrp/Desc1INTEREST FROM LOANS
IRS990/ProgramServiceRevenueGrp/Desc2CONTRACTS
IRS990/ProgramServiceRevenueGrp/Desc3LOAN FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0662404
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1136198
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2100000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt367859
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0662404
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1136198
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2100000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt367859
IRS990/ProgSrvcAccomActy2Grp/Desc0LENDING PROGRAM - WACIF'S ACCESS TO CAPITAL (ATC) AND LENDING ACTIVITIES, WHICH TOTAL OVER $13.9M ASSETS UNDER MANAGEMENT (AUM), PROVIDE FLEXIBLE FINANCING FOR SMALL BUSINESSES OWNED BY, OPERATING IN OR SERVING LOW-TO-MODERATE INCOME COMMUNITIES. WACIF HAS SEVERAL LOAN FUNDS TO SUPPORT A CONTINUUM OF FINANCING FROM START-UP ENTREPRENEURS TO ESTABLISHED BUSINESS OWNERS THAT ARE UNABLE TO ACCESS TRADITIONAL FINANCING FROM BANKS - LENDING UP TO $250K. WACIF'S VARIOUS LENDING PROGRAMS BRIDGE THE FINANCING GAP FOR UNDERSERVED COMMUNITIES GRADUATING TO TRADITIONAL LENDERS, WHILE CREATING ECONOMIC OPPORTUNITY. DESPITE THE COVID-19 PANDEMIC AND THE ONGOING SATURATION OF GOVERNMENT-SUBSIDIZED, FORGIVABLE LOANS IN THE MARKETPLACE, IN 2021 WACIF LENT MORE THAN $1.8 MILLION TO UNDERSERVED ENTREPRENEURS. RECOGNIZING THE NEED FOR IMMEDIATE CASH FLOW SUPPORT, WACIF ESTABLISHED STRATEGIC PARTNERSHIPS THAT ENABLED THE ORGANIZATION TO DEPLOY MORE THAN $9.9M IN GRANT FUNDING TO OVER 512 LOCAL BUSINESSES, PROTECTING SMALL BUSINESSES AND LIVELIHOODS IN THE REGION. WACIF'S ATC FUND IS THE ORGANIZATION'S HISTORICAL SOURCE FOR COMMUNITY DEVELOPMENT FINANCING AND IT'S MOST FLEXIBLE. THE ATC FUND REMAINS A COMMUNITY ASSET WHICH BEGAN WITH AND HAS BEEN SUSTAINED FOR OVER 30 YEARS BY INDIVIDUAL AND INSTRUCTIONAL, SOCIALLY-RESPONSIBLE INVESTORS SEEKING POSITIVE FINANCIAL AND SOCIAL RETURNS FROM THEIR INVESTMENT. CURRENTLY COMPRISED OF OVER 63 INSTITUTIONAL AND INDIVIDUAL INVESTORS HOLDING OVER 75 INVESTMENTS, THE ATC FUND IS VALUED AT APPROXIMATELY $3.5M.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0655887
IRS990/ProgSrvcAccomActy2Grp/GrantAmt037716
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0204057
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt05248394
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0383405
IRS990/PYInvestmentIncomeAmt05211
IRS990/PYOtherExpensesAmt0754236
IRS990/PYOtherRevenueAmt01640
IRS990/PYProgramServiceRevenueAmt01141946
IRS990/PYRevenuesLessExpensesAmt03661527
IRS990/PYSalariesCompEmpBnftPaidAmt01598023
IRS990/PYTotalExpensesAmt02735664
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt06397191
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02960146
IRS990/RegularMonitoringEnfrcInd01

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,906,500
Liabilities
$5,994,483
Net assets
$8,912,017
Revenue
$7,620,930
Expenses
$4,660,784
Net income
$2,960,146
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.1$6.37$5.69$4.14$6.39$2.24
2023Detailed filing. Detailed filing data is available for this year.$14.3$6.39$7.94$7.62$10.8$3.23
2022Detailed filing. Detailed filing data is available for this year.$16.5$5.37$11.1$9.09$6.87$2.22
2021Detailed filing. Detailed filing data is available for this year.$14.9$5.99$8.91$7.62$4.66$2.96
2020Detailed filing. Detailed filing data is available for this year.$11.7$5.76$5.97$6.40$2.74$3.66
2019Detailed filing. Detailed filing data is available for this year.$6.56$4.25$2.31$3.90$2.05$1.85
2018Detailed filing. Detailed filing data is available for this year.$4.79$3.99$0.80$3.17$2.04$1.13
2017Detailed filing. Detailed filing data is available for this year.$4.21$4.53$0.32$1.33$1.24$0.08
2016Detailed filing. Detailed filing data is available for this year.$4.11$4.51$0.41$0.97$1.62$0.65
2015Detailed filing. Detailed filing data is available for this year.$4.59$4.34$0.25$1.11$1.09$0.02
2014Detailed filing. Detailed filing data is available for this year.$5.33$5.10$0.23$1.38$1.34$0.03
2013Detailed filing. Detailed filing data is available for this year.$4.27$4.07$0.20$1.36$1.24$0.12
2012Summary only. Only limited summary data is available for this year.$4.07$3.98$0.08$0.79$0.90$0.11
2011Summary only. Only limited summary data is available for this year.$2.65$2.46$0.19$0.84$0.86$0.02
2010Summary only. Only limited summary data is available for this year.$4.18$3.97$0.22$0.91$0.57$0.34