Civic Intelligence

Founders First Community Development Corporation Inc.

990 • Fiscal year 2020 • EIN 74-3166719

Sep 01, 2019 to Aug 31, 2020 • Filed on May 12, 2021

Organization Profileliftde.org
10755 Scripps Poway Pkwy Ste 202San Diego, CA 92131

(619) 869-5815

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

33rd percentile

-2.1%

Higher net margin than 33% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

63rd percentile

$43,208

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 13.6% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

28th percentile

-1.7%

Faster asset growth than 28% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

10th percentile

-51%

Faster revenue growth than 10% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$513,652

Down $8,674 (-1.7%) from 2019

Net Assets

Down

$513,652

Down $6,752 (-1.3%) from 2019

Liabilities

Down

$0

Down $1,922 (-100%) from 2019

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin33rd percentile

Revenue

Down

$316,598

Down $327,208 (-51%) from 2019

Expenses

Up

$323,350

Up $183,643 (+131%) from 2019

Net Income

Down

-$6,752

Down $510,851 (-101%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

2020

Assets$513,652
Liabilities$0
Net Assets$513,652
Open 2020 Filing

Operations Trend

Revenue Growth10th percentile

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

2020

Revenue$316,598
Expenses$323,350
Net Income-$6,752
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2019 to Aug 31, 2020
Signed
May 12, 2021
Return Version
2019v5.0
Gross Receipts
$316,598
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$507,058$507,051▼ $7
Cash and Non-Interest-Bearing Accounts$13,346$6,601▼ $6,745
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$522,326$513,652▼ $8,674
Other Assets Total$1,922$0▼ $1,922
Liabilities
Other Liabilities$1,922--
Total Liabilities$1,922$0▼ $1,922
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$520,404$513,652▼ $6,752
Total Net Assets Fund Balance$520,404$513,652▼ $6,752
Total Liabilities and Net Assets / Fund Balance$522,326$513,652▼ $8,674
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleOtherTotal
Oralia S AlvarezSecretary$43,208$43,208

Board Members and Trustees

NameTitle
Alicia QuinnDirector
Maurice WilsonExecutive Director
Sharon L PayneTrustee
Yadira EsquedaTrustee
Kim FolsomCEO
Beverly ColeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$285,750
Program Service Revenue
$30,843
Investment Income
$5
Other Revenue
$0
All Other Contributions
$285,750
Change in Net Assets
$-6,752
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$317,741
Salaries, Compensation, and Employee Benefits$5,609
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$260,062--$260,062
Fees for Service Investment Mgmnt Fees-$10,500-$10,500
Fees for Services Legal-$6,732-$6,732
Occupancy-$6,178-$6,178
Other Salaries and Wages-$5,046-$5,046
Advertising-$4,054-$4,054
Fees for Services Accounting-$3,700-$3,700
Office Expenses-$1,649-$1,649
All Other Expenses-$1,350-$1,350
Other Expenses$790$750-$750
Insurance-$610-$610
Payroll Taxes-$563-$563
Travel-$166-$166
Total Functional Expenses$273,702$49,648$0$323,350
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
Fndrs First Cap Ptnrs LLCBrother-sisterProgram Delivery Fees PdNo$243,478

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 35% controlled entity
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
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
10755 SCRIPPS POWAY PKWY STE 202, SAN DIEGO, CA 92131

Signing Officer

Name
Kim Folsom
Title
President
Signed
2021-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Folsom
Formed
2005
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
6
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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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01254239
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/TotalBookValueSecuritiesAmt0507051
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0FNDRS FIRST CAP PTNRS LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BROTHER-SISTER
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0243478
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PROGRAM DELIVERY FEES PD
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
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0243478
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH PAYMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0FOUNDERS FIRST CAP PTNRS LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0r
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0true
IRS990/SchoolOperatingInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$513,652
Liabilities
$0
Net assets
$513,652
Revenue
$316,598
Expenses
$323,350
Net income
-$6,752
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.66$4.74$4.07$2.34$5.30$2.96
2023Detailed filing. Detailed filing data is available for this year.$2.69$3.18$0.49$4.46$5.63$1.17
2022Detailed filing. Detailed filing data is available for this year.$1.53$0.85$0.68$3.08$2.81$0.27
2021Detailed filing. Detailed filing data is available for this year.$0.63$0.00$0.63$1.52$1.07$0.46
2020Detailed filing. Detailed filing data is available for this year.$0.51$0.00$0.51$0.32$0.32$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.52$0.00$0.52$0.64$0.14$0.50
2018Detailed filing. Detailed filing data is available for this year.$0.02$0.02$0.15$0.21$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.07$0.07$0.12$0.06$0.07