Civic Intelligence

The Capital Good Fund

990 • Fiscal year 2019 • EIN 80-0348382

Jan 01, 2019 to Dec 31, 2019 • Filed on May 29, 2020

22A StreetProvidence, RI 02907

(866) 584-3651

Siviq Scores

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

Liabilities / Assets

91st percentile

0.95x

Higher debt load relative to assets than 91% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

90th percentile

2.37x

Higher debt load relative to revenue than 90% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

61st percentile

7.0%

Higher net margin than 61% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

30th percentile

$75,000

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

92nd percentile

47%

Faster asset growth than 92% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

83rd percentile

30%

Faster revenue growth than 83% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Up

$8,205,256

Up $2,634,935 (+47%) from 2018

Net Assets

Up

$391,691

Up $231,282 (+144%) from 2018

Liabilities

Up

$7,813,565

Up $2,403,653 (+44%) from 2018

Revenue

Up

$3,303,503

Up $754,947 (+30%) from 2018

Expenses

Up

$3,072,221

Up $564,091 (+22%) from 2018

Net Income

Up

$231,282

Up $190,856 (+472%) from 2018

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2011: $150,253Liabilities 2011: $62,407Net Assets 2011: $87,8462011Assets 2012: $217,316Liabilities 2012: $94,254Net Assets 2012: $123,0622012Assets 2013: $301,047Liabilities 2013: $219,977Net Assets 2013: $81,0702013Assets 2014: $535,712Liabilities 2014: $311,654Net Assets 2014: $224,0582014Assets 2015: $629,671Liabilities 2015: $596,296Net Assets 2015: $33,3752015Assets 2016: $1,272,194Liabilities 2016: $1,180,724Net Assets 2016: $91,4702016Assets 2017: $3,635,459Liabilities 2017: $3,518,763Net Assets 2017: $116,6962017Assets 2018: $5,570,321Liabilities 2018: $5,409,912Net Assets 2018: $160,4092018Assets 2019: $8,205,256Liabilities 2019: $7,813,565Net Assets 2019: $391,6912019Assets 2020: $10,153,753Liabilities 2020: $9,295,398Net Assets 2020: $858,3552020Assets 2021: $12,958,920Liabilities 2021: $11,301,142Net Assets 2021: $1,657,7782021Assets 2022: $17,247,323Liabilities 2022: $15,345,058Net Assets 2022: $1,902,2652022Assets 2023: $23,807,401Liabilities 2023: $21,642,033Net Assets 2023: $2,165,3682023Assets 2024: $32,638,172Liabilities 2024: $29,136,623Net Assets 2024: $3,501,5492024

Highlighted filing

2019

Assets$8,205,256
Liabilities$7,813,565
Net Assets$391,691

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2011: $159,027Expenses 2011: $143,188Net Income 2011: $15,8392011Expenses 2012: $270,0612012Revenue 2013: $414,479Expenses 2013: $456,471Net Income 2013: -$41,9922013Revenue 2014: $730,107Expenses 2014: $587,119Net Income 2014: $142,9882014Revenue 2015: $417,951Expenses 2015: $609,885Net Income 2015: -$191,9342015Revenue 2016: $1,231,416Expenses 2016: $1,175,604Net Income 2016: $55,8122016Revenue 2017: $1,991,498Expenses 2017: $1,972,897Net Income 2017: $18,6012017Revenue 2018: $2,548,556Expenses 2018: $2,508,130Net Income 2018: $40,4262018Revenue 2019: $3,303,503Expenses 2019: $3,072,221Net Income 2019: $231,2822019Revenue 2020: $4,848,988Expenses 2020: $4,382,324Net Income 2020: $466,6642020Revenue 2021: $6,219,609Expenses 2021: $5,420,186Net Income 2021: $799,4232021Revenue 2022: $5,723,489Expenses 2022: $5,479,002Net Income 2022: $244,4872022Revenue 2023: $6,754,848Expenses 2023: $6,491,745Net Income 2023: $263,1032023Revenue 2024: $9,591,116Expenses 2024: $8,254,935Net Income 2024: $1,336,1812024

Highlighted filing

2019

Revenue$3,303,503
Expenses$3,072,221
Net Income$231,282
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 29, 2020
Return Version
2019v5.1
Gross Receipts
$3,303,503
Mission and Program Overview

Mission

To provide equitable financial

The capital good fund is a micro-finance organization that targets root causes of poverty through innovative micro-loans and personal financial coaching. Its mission is to create pathways and create a green economy though inclusive financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,676,261$4,741,004▲ $1,064,743
Cash and Non-Interest-Bearing Accounts$969,779$3,234,174▲ $2,264,395
Loans From Officers Directors$215,500$172,654▼ $42,846
Pledges and Grants Receivable$824,085$74,913▼ $749,172
Land, Buildings, and Equipment, Net$42,883$64,654▲ $21,771
Prepaid Expenses and Deferred Charges$33,543$40,428▲ $6,885
Accounts Receivable$0$30,693▲ $30,693
Receivable From Disqualified Prsn$4,380$0▼ $4,380
Total Assets$5,570,321$8,205,256▲ $2,634,935
Other Assets Total$19,390$19,390→ $0
Liabilities
Unsecured Notes Loans Payable$3,091,009$4,102,179▲ $1,011,170
Mortgage Notes Payable Secured by Investment Property$1,775,097$3,050,000▲ $1,274,903
Deferred Revenue$197,491$369,301▲ $171,810
Accounts Payable and Accrued Expenses$130,815$119,431▼ $11,384
Total Liabilities$5,409,912$7,813,565▲ $2,403,653
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$97,655$241,070▲ $143,415
Net Assets With Donor Restrictions$62,754$150,621▲ $87,867
Total Net Assets Fund Balance$160,409$391,691▲ $231,282
Total Liabilities and Net Assets / Fund Balance$5,570,321$8,205,256▲ $2,634,935

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$64,654$41,049$105,703
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Andrew PosnerCEOFT$75,000$75,000

Board Members and Trustees

NameTitle
Betsy HarrisCo-chair
Libby KimzeyCo-chair
Dara DugauyDirector
Elina SantanaDirector
Holly BullardDirector
Rahul GuptaDirector
Sabrina TerryDirector
Ari GabinetSecretary
Jenn SteinfeldTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Social Capital FundLoan Servicing22 A STREET, Providence, RI 02907$349,154
Revenue and Support

Revenue Composition

Contributions and Grants
$2,507,269
Program Service Revenue
$790,495
Investment Income
$0
Other Revenue
$5,739
All Other Contributions
$2,507,269
Change in Net Assets
$231,282

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,303,503
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,303,503
Total Revenue per Form 990
$3,303,503
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,637,747
Other Expenses$1,434,474
Total Fundraising Expense$176,775
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$922,826$145,192$130,673$1,198,691
Payroll Taxes$270,685$199$179$271,063
Interest$229,569--$229,569
Advertising$63,371$40,034$4,134$107,539
Information Technology$76,353$11,194$10,074$97,621
Occupancy$61,299$7,568$6,811$75,678
Other Employee Benefits$60,795$7,505$6,755$75,055
Current Officers, Directors, Trustees, and Key Employees$57,740$9,084$8,176$75,000
Office Expenses$42,966$4,932$4,439$52,337
Fees for Services Other$38,589$307$164$39,060
Insurance$25,395$1,571$1,414$28,380
Travel$2,450$24,704-$27,154
Fees for Services Legal-$26,749-$26,749
Other Expenses$7,006$11,540$778$19,324
Fees for Services Accounting-$18,600-$18,600
Pension Plan Contributions$14,530$1,794$1,614$17,938
Depreciation Depletion$14,072$1,737$1,564$17,373
All Other Expenses$14,921--$14,921
Total Functional Expenses$2,582,736$312,710$176,775$3,072,221

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,072,221
Total Expenses per Audited Statements$3,072,221
Total Expenses per Form 990$3,072,221
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$215,500$172,654▼ $42,846
Receivables from Disqualified Persons$4,380$0▼ $4,380
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
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 B, Line 11B

The board reviews and approves the 990 prior to filing.

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

The board is required annually to review and sign the conflict of interest policy.

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

The board determines the ceo's compensation.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy, financial statements and form 990 are available to the public through request of the ceo.

Filing and Contact Details

Filer

Filer Name
The Capital Good Fund
EIN
80-0348382
Phone
8665843651
Address
22A STREET, PROVIDENCE, RI 02907

Signing Officer

Name
Andrew Posner
Title
CEO
Phone
8665843651
Signed
2020-05-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Posner
Formed
2009
Legal Domicile
Ri
Voting Board Members
9
Independent Board Members
8
Employees
39
Volunteers
2

Preparer

Firm
Citrin Cooperman & Company Llp
Address
10 FORBES ROAD WEST, BRAINTREE, MA 02184
Preparer
Jeffrey Alvanas
Phone
7813562000
Supplemental Narrative

Additional Explanations

Part XII

Process has not been changed from propr year.

Financial Statement Notes

PART X, LINE 2:

The organization accounts for uncertain tax positions in accordance with fasb asc topic income taxes. This topic prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. The topic also provides guidance on recognition, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. At december 31, 2019, management believes that the organization has no material uncertain tax positions.

Raw XML AppendixShowing 400 of 605 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE CAPITAL GOOD FUND IS A MICRO-FINANCE ORGANIZATION THAT TARGETS ROOT CAUSES OF POVERTY THROUGH INNOVATIVE MICRO-LOANS AND PERSONAL FINANCIAL COACHING. ITS MISSION IS TO CREATE PATHWAYS AND CREATE A GREEN ECONOMY THOUGH INCLUSIVE FINANCIAL SERVICES.
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IRS990/Desc0IN 2019, CAPITAL GOOD FUND FINANCED $3.018 MILLION IN SMALL-DOLLAR CONSUMER LOANS TO 1,185 LOWER-INCOME FAMILIES WITH NO-OR-POOR CREDIT, SURPASSING $9 MILLION FINANCED ALL-TIME. OUR PORTFOLIO OUTSTANDING GREW BY 30%, FROM $3.81 MILLION IN 2018 TO $4.98 MILLION IN 2019. SOME HIGHLIGHTS INCLUDE 110 DOUBLEGREEN LOANS FOR $993,000 WORTH OF ENERGY-EFFICIENCY UPGRADES, AND 80 IMMIGRATION LOANS TOTALLING $452,000; THESE WERE FOR COSTS ASSOCIATED WITH CITIZENSHIP, GREEN CARDS, FAMILY PETITIONS, AND OTHER IMMIGRATION ADJUSTMENTS-OF-STATUS. OTHER LOANS WERE FOR VEHICLE PURCHASE, REPAIR, OR REFINANCE; SECURITY DEPOSITS; CATCHING UP ON RENT OR UTILITIES; AND EMERGENCIES. DESPITE OUR TREMENDOUS GROWTH, WE'VE MAINTAINED A 95% REPAYMENT RATE. WE ENDED THE YEAR BY SECURING A LENDING LICENSE IN ILLINOIS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0IN 2019, CAPITAL GOOD FUND GRADUATED 109 FAMILIES FROM FC PLUS, OUR NATIONALLY RECOGNIZED, ONE-ON-ONE FINANCIAL AND HEALTH COACHING PROGRAM. WE CONTINUED TO DEVELOP PARTNERSHIPS AND SERVE CLIENTS. FOR INSTANCE, IN RHODE ISLAND WE PARTNERED WITH PROSPECT MEDICAL TO TACKLE THE SOCIAL DETERMINANTS OF HEALTH THROUGH FINANCIAL WELLBEING. AND IN SARASOTA, FLORIDA, WE TRAINED AREA SOCIAL SERVICE ORGANIZATIONS ON HOW TO PROVIDE INTRODUCTORY FINANCIAL WORKSHOPS TO THEIR CLIENTS, THEREBY EXPANDING ACCESS TO FINANCIAL LITERACY AT LARGE.
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IRS990/RegularMonitoringEnfrcInd01
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IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01231416
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$32.6$29.1$3.50$9.59$8.25$1.34
2023Detailed filing. Detailed filing data is available for this year.$23.8$21.6$2.17$6.75$6.49$0.26
2022Detailed filing. Detailed filing data is available for this year.$17.2$15.3$1.90$5.72$5.48$0.24
2021Detailed filing. Detailed filing data is available for this year.$13.0$11.3$1.66$6.22$5.42$0.80
2020Detailed filing. Detailed filing data is available for this year.$10.2$9.30$0.86$4.85$4.38$0.47
2019Detailed filing. Detailed filing data is available for this year.$8.21$7.81$0.39$3.30$3.07$0.23
2018Detailed filing. Detailed filing data is available for this year.$5.57$5.41$0.16$2.55$2.51$0.04
2017Detailed filing. Detailed filing data is available for this year.$3.64$3.52$0.12$1.99$1.97$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.27$1.18$0.09$1.23$1.18$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.63$0.60$0.03$0.42$0.61$0.19
2014Detailed filing. Detailed filing data is available for this year.$0.54$0.31$0.22$0.73$0.59$0.14
2013Detailed filing. Detailed filing data is available for this year.$0.30$0.22$0.08$0.41$0.46$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.09$0.12$0.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.15$0.06$0.09$0.16$0.14$0.02
Peer Organizations

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