Civic Intelligence

Liftfund Inc.

990 • Fiscal year 2018 • EIN 74-2712770

Jan 01, 2018 to Dec 31, 2018 • Filed on May 17, 2019

2007 West Martin StreetSan Antonio, TX 78207

(210) 226-3664

Siviq Scores

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

Liabilities / Assets

85th percentile

0.80x

Higher debt load relative to assets than 85% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

89th percentile

3.08x

Higher debt load relative to revenue than 89% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Net Margin

40th percentile

1.5%

Higher net margin than 40% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

34th percentile

$263,312

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Asset Growth

78th percentile

11%

Faster asset growth than 78% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

75th percentile

17%

Faster revenue growth than 75% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Assets

Up

$72,128,804

Up $7,200,645 (+11%) from 2017

Net Assets

Up

$14,559,483

Up $77,732 (+0.5%) from 2017

Liabilities

Up

$57,569,321

Up $7,122,913 (+14%) from 2017

Revenue

Up

$18,709,028

Up $2,717,494 (+17%) from 2017

Expenses

Up

$18,421,811

Up $1,695,618 (+10%) from 2017

Net Income

Up

$287,217

Up $1,021,876 (+139%) from 2017

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $35,334,220Liabilities 2010: $22,666,676Net Assets 2010: $12,667,5442010Assets 2011: $36,660,736Liabilities 2011: $23,823,734Net Assets 2011: $12,837,0022011Assets 2012: $38,959,059Liabilities 2012: $25,849,582Net Assets 2012: $13,109,4772012Assets 2013: $53,691,492Liabilities 2013: $40,117,964Net Assets 2013: $13,573,5282013Assets 2014: $56,616,575Liabilities 2014: $42,822,108Net Assets 2014: $13,794,4672014Assets 2015: $59,183,031Liabilities 2015: $45,367,305Net Assets 2015: $13,815,7262015Assets 2016: $63,332,024Liabilities 2016: $47,906,107Net Assets 2016: $15,425,9172016Assets 2017: $64,928,159Liabilities 2017: $50,446,408Net Assets 2017: $14,481,7512017Assets 2018: $72,128,804Liabilities 2018: $57,569,321Net Assets 2018: $14,559,4832018Assets 2019: $70,787,869Liabilities 2019: $55,992,965Net Assets 2019: $14,794,9042019Assets 2020: $114,228,801Liabilities 2020: $83,028,950Net Assets 2020: $31,199,8512020Assets 2021: $95,784,141Liabilities 2021: $59,026,054Net Assets 2021: $36,758,0872021Assets 2022: $84,840,423Liabilities 2022: $47,483,781Net Assets 2022: $37,356,6422022Assets 2023: $98,180,991Liabilities 2023: $60,372,745Net Assets 2023: $37,808,2462023Assets 2024: $102,981,540Liabilities 2024: $70,079,450Net Assets 2024: $32,902,0902024

Highlighted filing

2018

Assets$72,128,804
Liabilities$57,569,321
Net Assets$14,559,483

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2010: $8,804,4692010Expenses 2011: $9,748,2472011Revenue 2012: $11,354,259Expenses 2012: $11,081,784Net Income 2012: $272,4752012Revenue 2013: $12,577,454Expenses 2013: $12,113,403Net Income 2013: $464,0512013Revenue 2014: $14,656,889Expenses 2014: $14,435,950Net Income 2014: $220,9392014Revenue 2015: $15,735,311Expenses 2015: $15,714,052Net Income 2015: $21,2592015Revenue 2016: $18,214,955Expenses 2016: $16,604,764Net Income 2016: $1,610,1912016Revenue 2017: $15,991,534Expenses 2017: $16,726,193Net Income 2017: -$734,6592017Revenue 2018: $18,709,028Expenses 2018: $18,421,811Net Income 2018: $287,2172018Revenue 2019: $18,175,307Expenses 2019: $17,729,952Net Income 2019: $445,3552019Revenue 2020: $103,246,792Expenses 2020: $86,382,402Net Income 2020: $16,864,3902020Revenue 2021: $59,155,631Expenses 2021: $53,526,230Net Income 2021: $5,629,4012021Revenue 2022: $51,818,585Expenses 2022: $51,220,030Net Income 2022: $598,5552022Revenue 2023: $40,563,122Expenses 2023: $40,111,518Net Income 2023: $451,6042023Revenue 2024: $22,062,214Expenses 2024: $27,088,671Net Income 2024: -$5,026,4572024

Highlighted filing

2018

Revenue$18,709,028
Expenses$18,421,811
Net Income$287,217
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 17, 2019
Return Version
2018v3.1
Gross Receipts
$25,447,445
Mission and Program Overview

Mission

Liftfund provides credit to

Liftfund provides credit to small businesses that do not have access to loans from commercial sources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$45,717,998$50,267,586▲ $4,549,588
Cash and Non-Interest-Bearing Accounts$6,936,153$7,943,242▲ $1,007,089
Savings and Temporary Cash Investments$3,850,428$4,528,677▲ $678,249
Pledges and Grants Receivable$2,064,196$4,036,831▲ $1,972,635
Land, Buildings, and Equipment, Net$3,102,940$2,249,759▼ $853,181
Investments in Publicly Traded Securities$956,409$845,884▼ $110,525
Accounts Receivable$564,451$790,557▲ $226,106
Prepaid Expenses and Deferred Charges$447,966$488,135▲ $40,169
Inventories for Sale or Use$111,000$11,000▼ $100,000
Total Assets$64,928,159$72,128,804▲ $7,200,645
Other Assets Total$1,176,618$967,133▼ $209,485
Liabilities
Unsecured Notes Loans Payable$16,456,486$23,413,718▲ $6,957,232
Mortgage Notes Payable Secured by Investment Property$20,594,581$17,876,135▼ $2,718,446
Other Liabilities$11,312,500$13,192,500▲ $1,880,000
Accounts Payable and Accrued Expenses$1,496,727$1,592,363▲ $95,636
Deferred Revenue$586,114$1,494,605▲ $908,491
Total Liabilities$50,446,408$57,569,321▲ $7,122,913
Net Assets / Fund Balance
Unrestricted Net Assets$11,497,070$9,205,455▼ $2,291,615
Temporarily Rstr Net Assets$2,407,518$4,776,865▲ $2,369,347
Permanently Rstr Net Assets$577,163$577,163→ $0
Total Net Assets Fund Balance$14,481,751$14,559,483▲ $77,732
Total Liabilities and Net Assets / Fund Balance$64,928,159$72,128,804▲ $7,200,645

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$663,806$2,739,616$3,403,422
Buildings$1,172,385$813,984$1,986,369
Land$413,568-$413,568
Other Assets Org$967,133--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Janie BarreraPresident & CEOFT$190,752$72,560$263,312
Janie Barrera--$190,752$72,560$263,312
Richard RuebeChief Operating OfficerFT$137,238$13,392$150,630
Richard Ruebe--$137,238$13,392$150,630
Bob SchraitleSr VP Business DevFT$131,919$9,895$141,814
Nelly Rojas-morenoChief Credit OfficerFT$126,216$5,362$131,578
Thomas ClausenChief Financial OfficerFT$124,874$4,719$129,593
Elvira VallesVP West RegionFT$116,156$10,617$126,773
Dan LawlessSr VP Large LoansFT$114,268$10,610$124,878
Adrian GonzalesVP Large LoansFT$106,560$8,936$115,496

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
2river ConsultingIt Project Support315 C STREET SE, Washington, DC 20003$219,269
Prudent LendersPortfolio Servicing50 BEAVER STREET, Albany, NY 12207$180,843
Level 3 CommunicationsNetwork ServicesPO BOX 910182, Denver, CO 80291$176,491
Hayden CunninghamCollection Services7750 BROADWAY, San Antonio, TX 78209$151,827
Revenue and Support

Revenue Composition

Contributions and Grants
$6,866,526
Program Service Revenue
$10,776,171
Investment Income
$871,368
Other Revenue
$194,963
All Other Contributions
$3,636,042
Change in Net Assets
$287,217

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table156$1,012,222MARKET RATE 5.5%
Other Non Cash Contri Table1$2,800Comparable Rents
Total Noncash Contributions157$1,015,022-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,865,465
Salaries, Compensation, and Employee Benefits$8,556,346
Total Fundraising Expense$1,156,141
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,466,730$0$446,586$5,913,316
Interest$2,513,313$0$0$2,513,313
Fees for Services Other$998,171$125,350$131,253$1,254,774
Current Officers, Directors, Trustees, and Key Employees$775,280$201,143$207,652$1,184,075
Other Employee Benefits$590,011$55,861$67,011$712,883
Occupancy$596,584$19,905$19,905$636,394
Information Technology$520,587$9,367$16,640$546,594
Payroll Taxes$481,367$9,336$51,345$542,048
Depreciation Depletion$408,066$22,990$40,838$471,894
All Other Expenses$407,075$23,993$18,746$449,814
Other Expenses$174,129$2,411$28,357$204,897
Pension Plan Contributions$168,795$16,058$19,171$204,024
Travel$160,730$27,103$11,035$198,868
Advertising$175,184$3,405$4,834$183,423
Insurance$160,151$6,804$12,085$179,040
Fees for Services Legal$114,091$6,284$37,476$157,851
Conferences and Meetings$97,287$16,613$24,792$138,692
Office Expenses$48,022$5,880$3,432$57,334
Fees for Services Accounting$38,400$0$0$38,400
Total Functional Expenses$16,704,732$560,938$1,156,141$18,421,811
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Woodforest National BankJames Dreibelbis, CEOControlled Subsidiary InvestorNo$1,000,000
Woodforest National BankJames Dreibelbis, CEOSale of Loans Receivable to BankNo$716,119
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Equity Equivalents$11,442,500
Liftfund Funding Note Payable$1,750,000
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
Yes
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
Filing and Contact Details

Filer

Filer Name
Liftfund Inc
EIN
74-2712770
Phone
2102263664
Address
2007 WEST MARTIN STREET, SAN ANTONIO, TX 78207

Signing Officer

Name
Janie Barrera
Title
President & CEO
Phone
2102263664
Signed
2019-05-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janie Barrera
Formed
1994
Legal Domicile
TX
Voting Board Members
15
Independent Board Members
15
Employees
129
Volunteers
3

Preparer

Firm
West Davis & Company LLP
Address
11824 Jollyville Road Suite 100, Austin, TX 78759
Preparer
Rob West CPA
Phone
5038286650
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The form 990 is e-mailed to each director prior to

Pt VI, Line 11B

Filing for their review and approval.

Pt VI, Line 12C

The members of the board annually sign statements of

Pt VI, Line 12C

Non-conflict of interest.

Pt VI, Line 15A

The board of directors annually review and approve

Pt VI, Line 15A

COMPENSATION.

Pt VI, Line 19

Liftfund makes its governing documents available

Pt VI, Line 19

BY REQUEST.

Pt VI, Line 8B

There are no committees with authority to act on

Pt VI, Line 8B

Behalf of the governing body.

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IRS990/Desc0LIFTFUND PROVIDES CREDIT TO SMALL BUSINESSES THAT DO NOT HAVE ACCESS TO LOANS FROM COMMERCIAL SOURCES. 1,141 NEW LOANS WERE CLOSED IN THE FISCAL YEAR ENDED 12/31/2018. WITH MORE THAN $40 MILLION IN LOANS OUTSTANDING AS OF DECEMBER 31, 2018, LIFTFUND IS REGARDED AS THE LARGEST AND BEST PERFORMING MICROFINANCE INSTITUTION IN THE UNITED STATES. WITH ITS MICROLOAN MANAGEMENT SERVICES, LIFTFUND HELPS OTHER MICRO LENDERS ACROSS THE UNITED STATES ACHIEVE ECONOMICS OF SCALE AND EXPAND THE REACH OF THEIR PROGRAMS. THROUGH ITS LOANS AND SERVICES, LIFTFUND HAS HELPED CREATE OR RETAIN THOUSANDS OF JOBS IN LOW TO MODERATE INCOME AREAS, CONTRIBUTING TO THE ECONOMIC REVITALIZATION OF UNDERSERVED COMMUNITIES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18SR VP BUSINESS DEV
IRS990/Form990PartVIISectionAGrp/TitleTxt19CHIEF CREDIT OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt20VP WEST REGION
IRS990/Form990PartVIISectionAGrp/TitleTxt21SR VP LARGE LOANS
IRS990/Form990PartVIISectionAGrp/TitleTxt22VP LARGE LOANS
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IRS990/FormationYr01994
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IRS990/MembersOrStockholdersInd0false
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IRS990/MissionDesc0LIFTFUND PROVIDES CREDIT TO SMALL BUSINESSES THAT DO NOT HAVE ACCESS TO LOANS FROM COMMERCIAL SOURCES. THROUGH ITS LOANS AND SERVICES, LIFTFUND HELPS MICRO ENTREPRENEURS STRENGTHEN THEIR BUSINESSES, STABILIZE AND INCREASE THEIR INCOMES, CREATE ADDITIONAL EMPLOYMENT AND CONTRIBUTE TO THE ECONOMIC REVITALIZATION OF THEIR COMMUNITIES.
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IRS990/OtherExpensesGrp/Desc0BAD DEBT EXPENSES
IRS990/OtherExpensesGrp/Desc1PORTFOLIO EXPENSES
IRS990/OtherExpensesGrp/Desc2EQUIPMENT RENTAL & MAIN
IRS990/OtherExpensesGrp/Desc3DUES & SUBSCRIPTIONS
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IRS990/OtherExpensesGrp/ProgramServicesAmt1762962
IRS990/OtherExpensesGrp/ProgramServicesAmt2198553
IRS990/OtherExpensesGrp/ProgramServicesAmt3174129

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$103$70.1$32.9$22.1$27.1$5.03
2023Detailed filing. Detailed filing data is available for this year.$98.2$60.4$37.8$40.6$40.1$0.45
2022Detailed filing. Detailed filing data is available for this year.$84.8$47.5$37.4$51.8$51.2$0.60
2021Detailed filing. Detailed filing data is available for this year.$95.8$59.0$36.8$59.2$53.5$5.63
2020Detailed filing. Detailed filing data is available for this year.$114$83.0$31.2$103$86.4$16.9
2019Detailed filing. Detailed filing data is available for this year.$70.8$56.0$14.8$18.2$17.7$0.45
2018Detailed filing. Detailed filing data is available for this year.$72.1$57.6$14.6$18.7$18.4$0.29
2017Detailed filing. Detailed filing data is available for this year.$64.9$50.4$14.5$16.0$16.7$0.73
2016Detailed filing. Detailed filing data is available for this year.$63.3$47.9$15.4$18.2$16.6$1.61
2015Detailed filing. Detailed filing data is available for this year.$59.2$45.4$13.8$15.7$15.7$0.02
2014Detailed filing. Detailed filing data is available for this year.$56.6$42.8$13.8$14.7$14.4$0.22
2013Detailed filing. Detailed filing data is available for this year.$53.7$40.1$13.6$12.6$12.1$0.46
2012Summary only. Only limited summary data is available for this year.$39.0$25.8$13.1$11.4$11.1$0.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.7$23.8$12.8$9.75
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.3$22.7$12.7$8.80