Civic Intelligence

Cba Fund

990 • Fiscal year 2023 • EIN 82-4272195

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 01, 2024

Organization ProfileWWW.CREDITBUILDERSALLIANCE.ORG
1701 K Street NW Ste 1000Washington, DC 20006

(202) 730-9390

Siviq Scores

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

Liabilities / Assets

70th percentile

0.34x

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

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

88th percentile

1.52x

Higher debt load relative to revenue than 88% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

86th percentile

37%

Higher net margin than 86% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

79th percentile

$217,999

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 16.4% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

90th percentile

54%

Faster asset growth than 90% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

36th percentile

-1.2%

Faster revenue growth than 36% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$5,941,701

Up $2,080,348 (+54%) from 2022

Net Assets

Up

$3,918,331

Up $494,982 (+14%) from 2022

Liabilities

Up

$2,023,370

Up $1,585,366 (+362%) from 2022

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin86th percentile

Revenue

Down

$1,327,110

Down $16,280 (-1.2%) from 2022

Expenses

Down

$832,128

Down $114,477 (-12%) from 2022

Net Income

Up

$494,982

Up $98,197 (+25%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$6.0M$4.0M$2.0M$0Assets 2019: $259,728Liabilities 2019: $207,596Net Assets 2019: $52,1322019Assets 2020: $1,241,062Liabilities 2020: $258,847Net Assets 2020: $982,2152020Assets 2021: $3,373,113Liabilities 2021: $346,549Net Assets 2021: $3,026,5642021Assets 2022: $3,861,353Liabilities 2022: $438,004Net Assets 2022: $3,423,3492022Assets 2023: $5,941,701Liabilities 2023: $2,023,370Net Assets 2023: $3,918,3312023Assets 2024: $5,278,976Liabilities 2024: $1,746,694Net Assets 2024: $3,532,2822024

Highlighted filing

2023

Assets$5,941,701
Liabilities$2,023,370
Net Assets$3,918,331
Open 2023 Filing

Operations Trend

Revenue Growth36th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $209,599Expenses 2019: $152,513Net Income 2019: $57,0862019Revenue 2020: $1,890,737Expenses 2020: $960,654Net Income 2020: $930,0832020Revenue 2021: $2,669,814Expenses 2021: $625,465Net Income 2021: $2,044,3492021Revenue 2022: $1,343,390Expenses 2022: $946,605Net Income 2022: $396,7852022Revenue 2023: $1,327,110Expenses 2023: $832,128Net Income 2023: $494,9822023Revenue 2024: $546,285Expenses 2024: $932,334Net Income 2024: -$386,0492024

Highlighted filing

2023

Revenue$1,327,110
Expenses$832,128
Net Income$494,982
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 1, 2024
Return Version
2023v5.0
Gross Receipts
$1,327,110
Mission and Program Overview

Mission

Cba fund is a nonprofit corporation established under the laws of the district of columbia, formed and operated for the purpose of expanding the capicity of nonprofits that provide safe and affordable small dollar consumer loans and credit building products to low and moderate income individuals.

Cba fund's mission is to expand the capacity of nonprofits that provide safe and affordable small dollar consumer loans and credit building products to low and moderate income individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,012,847$3,181,316▲ $1,168,469
Other Notes and Loans Receivable, Net$1,393,992$2,591,185▲ $1,197,193
Cash and Non-Interest-Bearing Accounts$345,548$127,384▼ $218,164
Pledges and Grants Receivable$85,000--
Accounts Receivable$8,640$29,042▲ $20,402
Prepaid Expenses and Deferred Charges$7,888$7,887▼ $1
Land, Buildings, and Equipment, Net$7,438$4,887▼ $2,551
Total Assets$3,861,353$5,941,701▲ $2,080,348
Liabilities
Unsecured Notes Loans Payable$350,762$1,325,000▲ $974,238
Deferred Revenue-$608,575-
Other Liabilities$87,146$49,481▼ $37,665
Accounts Payable and Accrued Expenses$96$40,314▲ $40,218
Total Liabilities$438,004$2,023,370▲ $1,585,366
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,599,739$2,674,795▲ $75,056
Net Assets With Donor Restrictions$823,610$1,243,536▲ $419,926
Total Net Assets Fund Balance$3,423,349$3,918,331▲ $494,982
Total Liabilities and Net Assets / Fund Balance$3,861,353$5,941,701▲ $2,080,348

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,887$7,863$12,750
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Dara DuguayExecutive DiPT$217,999$217,999

Board Members and Trustees

NameTitle
Jack BrummelChair
Dwayne KeysVice Chair
Andrew PosnerDirector
Chuck Jones - OutgoingDirector
Cindy LogsdonDirector
Donovan DuncanDirector
Giovanna PiovanettiDirector
Holly FrindellDirector
Isis Salmeron - IncomingDirector
Morgan SpearsDirector
Shawna CollierDirector
Valecia QuinnDirector
Yanki TsheringDirector
Dara DuguayExecutive Director
Julia GazizovaCFO
Jeanne HogarthSecretary
Kevin FryattTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,167,305
Program Service Revenue
$45,780
Investment Income
$114,025
Other Revenue
$0
All Other Contributions
$1,167,305
Change in Net Assets
$494,982

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,327,110
Total Revenue per Audited Statements
$1,327,110
Total Revenue per Form 990
$1,327,110
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$458,969
Other Expenses$189,459
Grants and Similar Amounts Paid$183,700
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$283,678--$283,678
Grants to Domestic Orgs$183,700--$183,700
Current Officers, Directors, Trustees, and Key Employees$109,096--$109,096
Occupancy$34,648$3,164-$37,812
Payroll Taxes$32,381--$32,381
Other Employee Benefits$29,760--$29,760
Fees for Services Other$9,911$15,000-$24,911
Fees for Services Accounting$10,292$7,306-$17,598
Office Expenses$14,625--$14,625
Information Technology$10,194$1,550-$11,744
Insurance-$11,000-$11,000
Interest-$5,089-$5,089
Pension Plan Contributions$4,054--$4,054
Depreciation Depletion-$2,550-$2,550
Other Expenses-$1,120-$1,120
Total Functional Expenses$722,339$109,789$0$832,128

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$832,128
Total Expenses per Audited Statements$832,128
Total Expenses per Form 990$832,128
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Center for Economic OpportunitySan Diego, CA501c3Small Dollar Lending$20,000
First Community Capital IncLancaster, PA501c3Small Dollar Lending$14,500
Microcare Community DevelopmentTucson, AZ501c3Small Dollar Lending$14,500
Opening Doors IncSacramento, CA501c3Small Dollar Lending$14,500
Capital Good FundProvidence, RI501c3Small Dollar Lending$9,000
Solitas HouseTampa, FL501c3Small Dollar Lending$9,000
Cap Services IncStevens Point, WI501c3Small Dollar Lending$7,500
African Economic Development SolutiSt Paul, MN501c3Small Dollar Lending$7,250
Hustle USAPhoenix, AZ501c3Small Dollar Lending$7,000
Legacy Institute for FinancialLufkin, TX501c3Small Dollar Lending$7,000
Cen-tex Certified Development CorpAustin, TX501c3Small Dollar Lending$6,000
Community First FundLancaster, PA501c3Small Dollar Lending$6,000
Fresno Area Hispanic FoundationFresno, CA501c3Small Dollar Lending$6,000
Solar and Energy Loan FundFort Pierce, FL501c3Small Dollar Lending$6,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Organization$49,481
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7B

“Credit builders alliance who is the member of cba fund approves governance decisions of cba fund.”

Form 990, Page 6, Part VI, Line 11B

“The executive director and the chief financial officer review the 990 tax return upon receipt from the preparers. The finance committee of the board also reviews the return. All questions and issues are answered and resolved and any appropriate corrections are made to the return. Once this process is complete, a copy of the 990 is forwarded to the full board of directors prior to filing the return.”

Form 990, Page 6, Part VI, Line 12C

“The organization annually reviews the conflict of interest policy with the board of directors and management. The organization requires disclosure of any interests that may present a conflict of interest.”

Form 990, Page 6, Part VI, Line 19

“These policies and documents are provided upon request.”

Filing and Contact Details

Filer

Filer Name
Cba Fund
EIN
82-4272195
Phone
2027309390
Address
1701 K STREET NW STE 1000, WASHINGTON, DC 20006

Signing Officer

Name
Dara Duguay
Title
Executive Director
Phone
2027309390
Signed
2024-07-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dara Duguay
Formed
2018
Legal Domicile
Dc
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
15

Preparer

Firm
Kendall Prebola and Jones LLC
Address
PO BOX 259, BEDFORD, PA 15522-0259
Preparer
Robert F Prebola CPA
Phone
8146231880
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Cba fund is a nonprofit corporation established under the laws of the district of columbia, formed and operated for the purpose of expanding the capicity of nonprofits that provide safe and affordable small dollar consumer loans and credit building products to low and moderate income individuals.”

Form 990

“Salaries and other compensation reported on this return were paid by credit builders alliance as disclosed on schedule r. Therefore the number of individuals employed is listed as none on this return.”

Form 990, Page 1, Part I, Line 6

“Volunteers consist of individuals who served on the board during the year.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Accounting principles generally accepted in the united states of america provide consistent guidance for the accounting for uncertainty in income taxes recognized in the organizations' financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. The credit builders alliance and cba fund performed an evaluation of uncertain tax positions for the year ended december 31, 2023, 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. As of december 31, 2023, the statute of limitations for tax years 2020 through 2022 remains open with the u.s. Federal jurisdiction or the various states and local jurisdictions in which the organizations file tax returns. It is the organizations' policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense. As of december 31, 2023, the organizations had no accruals for interest and/or penalties.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15EXECUTIVE DI
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE ORGANIZATIONS' FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE CREDIT BUILDERS ALLIANCE AND CBA FUND PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED DECEMBER 31, 2023, 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. AS OF DECEMBER 31, 2023, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2020 THROUGH 2022 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE ORGANIZATIONS FILE TAX RETURNS. IT IS THE ORGANIZATIONS' POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. AS OF DECEMBER 31, 2023, THE ORGANIZATIONS HAD NO ACCRUALS FOR INTEREST AND/OR PENALTIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SMALL DOLLAR LENDING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SMALL DOLLAR LENDING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2SMALL DOLLAR LENDING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3SMALL DOLLAR LENDING

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,941,701
Liabilities
$2,023,370
Net assets
$3,918,331
Revenue
$1,327,110
Expenses
$832,128
Net income
$494,982
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.28$1.75$3.53$0.55$0.93$0.39
2023Detailed filing. Detailed filing data is available for this year.$5.94$2.02$3.92$1.33$0.83$0.49
2022Detailed filing. Detailed filing data is available for this year.$3.86$0.44$3.42$1.34$0.95$0.40
2021Detailed filing. Detailed filing data is available for this year.$3.37$0.35$3.03$2.67$0.63$2.04
2020Detailed filing. Detailed filing data is available for this year.$1.24$0.26$0.98$1.89$0.96$0.93
2019Detailed filing. Detailed filing data is available for this year.$0.26$0.21$0.05$0.21$0.15$0.06