Civic Intelligence

Founders First Community Development Corporation Inc.

990 • Fiscal year 2019 • EIN 74-3166719

Sep 01, 2018 to Aug 31, 2019 • Filed on Jul 14, 2020

11444 Raedene WaySan Diego, CA 92131

(619) 869-5815

Siviq Scores

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

Liabilities / Assets

35th percentile

0.00x

Higher debt load relative to assets than 35% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

32nd percentile

0.00x

Higher debt load relative to revenue than 32% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

97th percentile

78%

Higher net margin than 97% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

100th percentile

3103%

Faster asset growth than 100% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

98th percentile

317%

Faster revenue growth than 98% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Up

$522,326

Up $506,021 (+3103%) from 2018

Net Assets

Up

$520,404

Up $504,099 (+3092%) from 2018

Liabilities

$1,922

No earlier filing loaded for comparison.

Revenue

Up

$643,806

Up $489,591 (+317%) from 2018

Expenses

Down

$139,707

Down $66,640 (-32%) from 2018

Net Income

Up

$504,099

Up $556,231 (+1067%) from 2018

Historical Trend

Balance Sheet Trend

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

$5.0M$0-$5.0MAssets 2017: $68,437Net Assets 2017: $68,4372017Assets 2018: $16,305Net Assets 2018: $16,3052018Assets 2019: $522,326Liabilities 2019: $1,922Net Assets 2019: $520,4042019Assets 2020: $513,652Liabilities 2020: $0Net Assets 2020: $513,6522020Assets 2021: $630,877Liabilities 2021: $0Net Assets 2021: $630,8772021Assets 2022: $1,528,919Liabilities 2022: $846,827Net Assets 2022: $682,0922022Assets 2023: $2,694,259Liabilities 2023: $3,180,724Net Assets 2023: -$486,4652023Assets 2024: $662,029Liabilities 2024: $4,736,796Net Assets 2024: -$4,074,7672024

Highlighted filing

2019

Assets$522,326
Liabilities$1,922
Net Assets$520,404

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2017: $124,866Expenses 2017: $58,185Net Income 2017: $66,6812017Revenue 2018: $154,215Expenses 2018: $206,347Net Income 2018: -$52,1322018Revenue 2019: $643,806Expenses 2019: $139,707Net Income 2019: $504,0992019Revenue 2020: $316,598Expenses 2020: $323,350Net Income 2020: -$6,7522020Revenue 2021: $1,524,147Expenses 2021: $1,066,878Net Income 2021: $457,2692021Revenue 2022: $3,075,120Expenses 2022: $2,809,172Net Income 2022: $265,9482022Revenue 2023: $4,463,178Expenses 2023: $5,631,735Net Income 2023: -$1,168,5572023Revenue 2024: $2,343,535Expenses 2024: $5,301,361Net Income 2024: -$2,957,8262024

Highlighted filing

2019

Revenue$643,806
Expenses$139,707
Net Income$504,099
Jump To
Filing Snapshot
Filing Period
Sep 1, 2018 to Aug 31, 2019
Signed
Jul 14, 2020
Return Version
2018v3.1
Gross Receipts
$643,806
Mission and Program Overview

Mission

Help underserved, under-represented small business owners overcome challenges they face due to lack of access to capital and to assist them in increasing business capacity resulting in higher revenue growth and providing more jobs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$3,295$507,058▲ $503,763
Cash and Non-Interest-Bearing Accounts$13,010$13,346▲ $336
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$16,305$522,326▲ $506,021
Other Assets Total-$1,922-
Liabilities
Other Liabilities-$1,922-
Total Liabilities$0$1,922▲ $1,922
Net Assets / Fund Balance
Unrestricted Net Assets$16,305$520,404▲ $504,099
Total Net Assets Fund Balance$16,305$520,404▲ $504,099
Total Liabilities and Net Assets / Fund Balance$16,305$522,326▲ $506,021
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kim FolsomPresident
Alicia QuinnDirector
Maurice WilsonExecutive Director
Brenda DuarteTrustee
Karen BoxTrustee
Sharon L PayneTrustee
Yadira EsquedaTrustee
Oralia S AlvarezSecretary
Beverly ColeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$643,800
Program Service Revenue
$0
Investment Income
$6
Other Revenue
$0
All Other Contributions
$140,031
Change in Net Assets
$504,099

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
Securities Miscellaneous2$503,769Similar Business Val
Total Noncash Contributions2$503,769-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$139,707
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$123,699--$123,699
Occupancy-$5,424-$5,424
Fees for Services Legal-$2,350-$2,350
Advertising-$1,029-$1,029
All Other Expenses-$703-$703
Insurance-$595-$595
Other Expenses-$302-$302
Total Functional Expenses$123,699$16,008$0$139,707
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
Kim FolsomInterim CEONoncash Contbn to OrgNo$503,769
Fndrs First Cap Ptnrs LLCBrother-sisterProgram Delivery Fees PdNo$114,148

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payable-ctr for Bus Exp-part Deposits$1,922
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
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

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

1. Kim folsom and beverly cole are members of the partnership founders first capital partners fund i, llc. 2. Kim folsom and sharon l. Payne are members of the partnership founders first capital partners, llc

Form 990, Part VI, Line 11B: Form 990 Review Process

Board members review, discuss and approve all areas of form 990 prior to filing

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The governing docs, policies, and financial statements are available upon request

Filing and Contact Details

Filer

Filer Name
Lift Development Enterprises Inc
EIN
74-3166719
Phone
6198695815
Address
11444 RAEDENE WAY, SAN DIEGO, CA 92131

Signing Officer

Name
Kim Folsom
Title
President
Signed
2020-07-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Folsom
Formed
2005
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
0
Employees
0

Preparer

Firm
Pg CPA Pc
Address
PO Box 1243, Newburgh, IN 47630
Preparer
Pankajamma Gunupati CPA Mst
Phone
8006157830
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IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0643800
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0152150
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0125164
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt011050
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0933164
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt06
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt015
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt06
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt027
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt02050
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt03400
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0500
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt05950
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt06
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt015
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt06
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt027
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt0939114
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0643800
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0154200
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0125164
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt014450
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01500
IRS990ScheduleA/Total509Grp/TotalAmt0939114
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0643806
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0154215
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0125170
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt014450
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01500
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0939141
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
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01922
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYABLE-CTR FOR BUS EXP-PART DEPOSITS
IRS990ScheduleD/TotalBookValueSecuritiesAmt0507058
IRS990ScheduleD/TotalLiabilityAmt01922
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0KIM FOLSOM
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1FNDRS FIRST CAP PTNRS LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0INTERIM CEO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1BROTHER-SISTER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0503769
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1114148
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0NONCASH CONTBN TO ORG
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1PROGRAM DELIVERY FEES PD
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION RECEIVED NONCASH CONTRIBUTIONS OF $503,769 FROM INTERIM CEO
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V Supplemental Information
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SecuritiesMiscellaneousGrp/ContributionCnt02
IRS990ScheduleM/SecuritiesMiscellaneousGrp/MethodOfDeterminingRevenuesTxt0SIMILAR BUSINESS VAL
IRS990ScheduleM/SecuritiesMiscellaneousGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesMiscellaneousGrp/NoncashContributionsRptF990Amt0503769
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt01. KIM FOLSOM AND BEVERLY COLE ARE MEMBERS OF THE PARTNERSHIP FOUNDERS FIRST CAPITAL PARTNERS FUND I, LLC. 2. KIM FOLSOM AND SHARON L. PAYNE ARE MEMBERS OF THE PARTNERSHIP FOUNDERS FIRST CAPITAL PARTNERS, LLC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS REVIEW, DISCUSS AND APPROVE ALL AREAS OF FORM 990 PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0810789174
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt0RELATED
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0SMALL BUSINESS TRAINING
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0FOUNDERS FIRST CAP PTNRS LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt010755 SCRIPPS POWAY PKWY 412
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0SAN DIEGO
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd092131
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0FOUNDERS FIRST CAPITAL PARTNERS LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0810789174
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SMALL BUSINESS TRAINING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt010755 SCRIPPS POWAY PKWY 412
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SAN DIEGO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd092131
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false

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