Civic Intelligence

Tmc Community Capital

990 • Fiscal year 2022 • EIN 82-5204018

Oct 01, 2021 to Sep 30, 2022 • Filed on Aug 15, 2023

1611 Telegraph 504Oakland, CA 94612

(415) 989-8855

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.82x

Higher debt load relative to assets than 92% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

92nd percentile

2.00x

Higher debt load relative to revenue than 92% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

53rd percentile

8.7%

Higher net margin than 53% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

97th percentile

186%

Faster asset growth than 97% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

23rd percentile

-14%

Faster revenue growth than 23% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$2,921,286

Up $1,900,433 (+186%) from 2021

Net Assets

Up

$513,698

Up $104,672 (+26%) from 2021

Liabilities

Up

$2,407,588

Up $1,795,761 (+294%) from 2021

Revenue

Down

$1,206,091

Down $198,924 (-14%) from 2021

Expenses

Down

$1,101,419

Down $27,705 (-2.5%) from 2021

Net Income

Down

$104,672

Down $171,219 (-62%) from 2021

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2018: $1Liabilities 2018: $6,3602018Assets 2019: $104,554Liabilities 2019: $625Net Assets 2019: $103,9292019Assets 2020: $417,546Liabilities 2020: $284,411Net Assets 2020: $133,1352020Assets 2021: $1,020,853Liabilities 2021: $611,827Net Assets 2021: $409,0262021Assets 2022: $2,921,286Liabilities 2022: $2,407,588Net Assets 2022: $513,6982022Assets 2023: $5,301,238Liabilities 2023: $4,369,632Net Assets 2023: $931,6062023Assets 2024: $5,947,225Liabilities 2024: $4,711,609Net Assets 2024: $1,235,6162024

Highlighted filing

2022

Assets$2,921,286
Liabilities$2,407,588
Net Assets$513,698

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2018: $0Expenses 2018: $6,360Net Income 2018: -$6,3602018Revenue 2019: $155,000Expenses 2019: $44,711Net Income 2019: $110,2892019Revenue 2020: $1,057,232Expenses 2020: $1,028,026Net Income 2020: $29,2062020Revenue 2021: $1,405,015Expenses 2021: $1,129,124Net Income 2021: $275,8912021Revenue 2022: $1,206,091Expenses 2022: $1,101,419Net Income 2022: $104,6722022Revenue 2023: $2,351,825Expenses 2023: $1,933,917Net Income 2023: $417,9082023Revenue 2024: $2,855,414Expenses 2024: $2,551,404Net Income 2024: $304,0102024

Highlighted filing

2022

Revenue$1,206,091
Expenses$1,101,419
Net Income$104,672
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Aug 15, 2023
Return Version
2021v4.2
Gross Receipts
$1,206,091
Mission and Program Overview

Mission

TMC Community Capitals purpose is to assist underserved entrepreneurs in the state of California by providing them with access to capital, technical assistance and resources to successfully start and grow a business. TMC Community Capital supports microenterprise growth as a strategy to strengthen the local economy, create jobs, and build strong communities. The Organization provides the following services: Microloans/Small Business Loans $5,000 to $50,000 throughout the state of California Technical Assistance (Business coaching, advising, education, and mentoring) Referrals for Free and Low-Cost Business Resources Educational Presentations on Access to Capital

Tmc community capital's purpose is to assist underserved entrepreneurs in the state of california by providing them with access to capital, technical assistance and resources to successfully start and grow a business.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$606,834$1,573,548▲ $966,714
Cash and Non-Interest-Bearing Accounts$253,290$1,275,920▲ $1,022,630
Accounts Receivable$125,000$42,500▼ $82,500
Prepaid Expenses and Deferred Charges$21,527$14,907▼ $6,620
Land, Buildings, and Equipment, Net$14,202$14,411▲ $209
Total Assets$1,020,853$2,921,286▲ $1,900,433
Liabilities
Other Liabilities$338,832$1,195,000▲ $856,168
Unsecured Notes Loans Payable$200,000$900,000▲ $700,000
Accounts Payable and Accrued Expenses$72,995$312,588▲ $239,593
Total Liabilities$611,827$2,407,588▲ $1,795,761
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$275,026$327,198▲ $52,172
Net Assets With Donor Restrictions$134,000$186,500▲ $52,500
Total Net Assets Fund Balance$409,026$513,698▲ $104,672
Total Liabilities and Net Assets / Fund Balance$1,020,853$2,921,286▲ $1,900,433

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,411$10,841$25,252
Compensation and Service Providers

Board Members and Trustees

NameTitle
Heather CameronBoard Chair
Daniel FernandezPresident & CEO (from 6/2022)
Barbara MorrisonPresident & CEO (to 6/2022)
Ingrid MarthyDirector
Jing CaoDirector
Joyce SlossDirector
Kelly LaroccaDirector
Mark HerbertDirector
Marquita JeffressDirector
Michelle SveltiDirector
Mona AhmadiDirector
Scott RogalskiDirector
Tamisie HoneyDirector
Michael VanecekCFO
Lindsy CarpenterSecretary
Joe SkoweraTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,118,360
Program Service Revenue
$87,731
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,118,360
Change in Net Assets
$104,672

Audited Revenue Reconciliation

Revenue per Audited Statements
$876,099
Revenue Not Reported on Financial Statements
$329,992
Revenue Not Reported on Form 990
$231,073
Other Revenue Adjustments
$192,036
Total Revenue per Audited Statements
$1,107,172
Total Revenue per Form 990
$1,206,091
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$667,444
Other Expenses$433,975
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$391,168$41,486-$432,654
Current Officers, Directors, Trustees, and Key Employees$111,833$11,811-$123,644
Fees for Services Other-$67,680-$67,680
Other Employee Benefits$61,472$5,890-$67,362
Payroll Taxes$39,667$4,117-$43,784
Fees for Services Accounting-$36,423-$36,423
Information Technology$30,035--$30,035
Interest$29,810--$29,810
Travel$19,813--$19,813
Office Expenses$13,645$424-$14,069
Advertising$13,315--$13,315
Depreciation Depletion$7,442--$7,442
Insurance$3,639--$3,639
Other Expenses$1,135--$1,135
All Other Expenses$52--$52
Total Functional Expenses$933,588$167,831$0$1,101,419

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,101,419
Total Expenses per Audited Statements$1,002,500
Expenses per Audited Statements$771,427
Expenses Not Reported on Financial Statements$329,992
Expenses Not Reported on Form 990$231,073
Other Expense Adjustments$192,036
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
Line of Credit$1,195,000
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 3

There is a master service agreement (msa) between tmc community capital and tmc financing. The msa creates an administrative collaboration between the parties to share certain overhead costs, including, but not limited to, finance and accounting, human resources management, and other administrative functions. Tmc financing staff providing support to tmc community capital via the msa agreement, provide services to tmc community capital pro bono, in-kind services.

Form 990, Part VI, Section B, Line 11B

The cfo reviews the 990 before it is filed with the irs.

Form 990, Part VI, Section B, Line 15

Year end review process includes evaluation of performance and any compensation changes.

Form 990, Part VI, Section C, Line 19

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Tmc Community Capital
EIN
82-5204018
Phone
4159898855
Address
1611 TELEGRAPH 504, OAKLAND, CA 94612

Signing Officer

Name
Michael Vanecek
Title
CFO
Phone
4159898855
Signed
2023-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Fernandez
Formed
2018
Legal Domicile
CA
Voting Board Members
14
Independent Board Members
14
Employees
9
Volunteers
0

Preparer

Firm
Bpm Llp
Address
4200 BOHANNON DRIVE SUITE 250, MENLO PARK, CA 94025-1021
Preparer
Elena P Serebriakova
Phone
6508556800
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

The found/ la grant program and bloom grant program ending on 9/30/2021. Both of those grant programs were one time only.

FORM 990, PART V, LINE 2A:

Tmccc employees are technically, for w3 purposes, trinet hr employees. Tmc financing and tmc community capital use one payroll system and tmccc reimburses tmcf for payroll amounts.

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from federal and california income tax under section 501(c)(3) of the internal revenue code and section 23701f of the california revenue and taxation code. Accordingly, the organization has paid no income taxes and the financial statements include no provision for income taxes. The organization follows financial accounting standards board ("fasb") asc 740-10, accounting for uncertainty in income taxes ("asc 740"). Asc 740 requires an organization to determine whether it is more likely than not that a tax position will be sustained upon examination on the technical merits of the position, assuming the taxing authority has full knowledge of all information. If the tax position does not meet the more likely than not recognition threshold, the benefit of that position is not recognized in the financial statements. The organization has no assets or liabilities related to uncertain tax positions. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Below market rate interest recorded as a contribution per gaap 108,146.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Loan loss expense 192,036.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Below market rate interest recorded as an expense per gaap 108,146.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Loan loss expense 192,036.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO (TO 6/2022)
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IRS990/IndependentVotingMemberCnt014
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartVInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt030035
IRS990/InformationTechnologyGrp/TotalAmt030035
IRS990/InsuranceGrp/ProgramServicesAmt03639
IRS990/InsuranceGrp/TotalAmt03639
IRS990/InterestGrp/ProgramServicesAmt029810
IRS990/InterestGrp/TotalAmt029810
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt067
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt010841
IRS990/LandBldgEquipBasisNetGrp/BOYAmt014202
IRS990/LandBldgEquipBasisNetGrp/EOYAmt014411
IRS990/LandBldgEquipCostOrOtherBssAmt025252
IRS990/LegalDomicileStateCd0CA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TMC COMMUNITY CAPITAL'S PURPOSE IS TO ASSIST UNDERSERVED ENTREPRENEURS IN THE STATE OF CALIFORNIA BY PROVIDING THEM WITH ACCESS TO CAPITAL, TECHNICAL ASSISTANCE AND RESOURCES TO SUCCESSFULLY START AND GROW A BUSINESS. TMC COMMUNITY CAPITAL SUPPORTS MICROENTERPRISE GROWTH AS A STRATEGY TO STRENGTHEN THE LOCAL ECONOMY, CREATE JOBS, AND BUILD STRONG COMMUNITIES. THE ORGANIZATION PROVIDES THE FOLLOWING SERVICES:. MICROLOANS/SMALL BUSINESS LOANS $5,000 TO $50,000 THROUGHOUT THE STATE OF CALIFORNIA. TECHNICAL ASSISTANCE (BUSINESS COACHING, ADVISING, EDUCATION, AND MENTORING). REFERRALS FOR FREE AND LOW-COST BUSINESS RESOURCES. EDUCATIONAL PRESENTATIONS ON ACCESS TO CAPITAL
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0409026
IRS990/NetAssetsOrFundBalancesEOYAmt0513698
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0275026
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0327198
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0424
IRS990/OfficeExpensesGrp/ProgramServicesAmt013645
IRS990/OfficeExpensesGrp/TotalAmt014069
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt05890
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt061472
IRS990/OtherEmployeeBenefitsGrp/TotalAmt067362
IRS990/OtherExpensesGrp/Desc0LOAN LOSS EXPENSE
IRS990/OtherExpensesGrp/Desc1OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc2DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3BANK CHARGES & FEES
IRS990/OtherExpensesGrp/ProgramServicesAmt0192036
IRS990/OtherExpensesGrp/ProgramServicesAmt114692
IRS990/OtherExpensesGrp/ProgramServicesAmt23834
IRS990/OtherExpensesGrp/ProgramServicesAmt31135
IRS990/OtherExpensesGrp/TotalAmt0192036
IRS990/OtherExpensesGrp/TotalAmt114692
IRS990/OtherExpensesGrp/TotalAmt23834
IRS990/OtherExpensesGrp/TotalAmt31135
IRS990/OtherLiabilitiesGrp/BOYAmt0338832
IRS990/OtherLiabilitiesGrp/EOYAmt01195000
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt041486
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0391168
IRS990/OtherSalariesAndWagesGrp/TotalAmt0432654
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0606834
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt01573548
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04117
IRS990/PayrollTaxesGrp/ProgramServicesAmt039667
IRS990/PayrollTaxesGrp/TotalAmt043784
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt021527
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt014907
IRS990/PrincipalOfficerNm0DANIEL FERNANDEZ
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt087731
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt087731
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01183773
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0631592
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0170648
IRS990/PYOtherRevenueAmt055029
IRS990/PYProgramServiceRevenueAmt0166213
IRS990/PYRevenuesLessExpensesAmt0275891
IRS990/PYSalariesCompEmpBnftPaidAmt0326884
IRS990/PYTotalExpensesAmt01129124
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01405015
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0104672
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt087731
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01118360
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01183773
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01050000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0155000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03507133
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0316205
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt01103134
IRS990ScheduleA/SubstantialContributorsTotAmt02403999
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01118360
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01183773
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01050000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0155000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03507133
IRS990ScheduleA/TotalSupportAmt03507133
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/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0122927
IRS990ScheduleD/DonatedServicesUseFcltsAmt0122927
IRS990ScheduleD/EquipmentGrp/BookValueAmt014411
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010841
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt025252
IRS990ScheduleD/ExpensesNotReportedAmt0231073
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0329992
IRS990ScheduleD/ExpensesSubtotalAmt0771427
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt0137956
IRS990ScheduleD/InvestmentExpensesNotIncldAmt0137956
IRS990ScheduleD/OtherExpensesIncludedAmt0108146
IRS990ScheduleD/OtherExpensesNotIncludedAmt0192036
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01195000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LINE OF CREDIT
IRS990ScheduleD/OtherRevenueAmt0108146
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0192036
IRS990ScheduleD/RevenueNotReportedAmt0231073
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0329992
IRS990ScheduleD/RevenueSubtotalAmt0876099
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL AND CALIFORNIA INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701F OF THE CALIFORNIA REVENUE AND TAXATION CODE. ACCORDINGLY, THE ORGANIZATION HAS PAID NO INCOME TAXES AND THE FINANCIAL STATEMENTS INCLUDE NO PROVISION FOR INCOME TAXES. THE ORGANIZATION FOLLOWS FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ("ASC 740"). ASC 740 REQUIRES AN ORGANIZATION TO DETERMINE WHETHER IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION ON THE TECHNICAL MERITS OF THE POSITION, ASSUMING THE TAXING AUTHORITY HAS FULL KNOWLEDGE OF ALL INFORMATION. IF THE TAX POSITION DOES NOT MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD, THE BENEFIT OF THAT POSITION IS NOT RECOGNIZED IN THE FINANCIAL STATEMENTS. THE ORGANIZATION HAS NO ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BELOW MARKET RATE INTEREST RECORDED AS A CONTRIBUTION PER GAAP 108,146.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2LOAN LOSS EXPENSE 192,036.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3BELOW MARKET RATE INTEREST RECORDED AS AN EXPENSE PER GAAP 108,146.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4LOAN LOSS EXPENSE 192,036.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt014411
IRS990ScheduleD/TotalExpensesPerForm990Amt01101419
IRS990ScheduleD/TotalLiabilityAmt01195000
IRS990ScheduleD/TotalRevenuePerForm990Amt01206091
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01107172
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01002500
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUND/ LA GRANT PROGRAM AND BLOOM GRANT PROGRAM ENDING ON 9/30/2021. BOTH OF THOSE GRANT PROGRAMS WERE ONE TIME ONLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TMCCC EMPLOYEES ARE TECHNICALLY, FOR W3 PURPOSES, TRINET HR EMPLOYEES. TMC FINANCING AND TMC COMMUNITY CAPITAL USE ONE PAYROLL SYSTEM AND TMCCC REIMBURSES TMCF FOR PAYROLL AMOUNTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE IS A MASTER SERVICE AGREEMENT (MSA) BETWEEN TMC COMMUNITY CAPITAL AND TMC FINANCING. THE MSA CREATES AN ADMINISTRATIVE COLLABORATION BETWEEN THE PARTIES TO SHARE CERTAIN OVERHEAD COSTS, INCLUDING, BUT NOT LIMITED TO, FINANCE AND ACCOUNTING, HUMAN RESOURCES MANAGEMENT, AND OTHER ADMINISTRATIVE FUNCTIONS. TMC FINANCING STAFF PROVIDING SUPPORT TO TMC COMMUNITY CAPITAL VIA THE MSA AGREEMENT, PROVIDE SERVICES TO TMC COMMUNITY CAPITAL PRO BONO, IN-KIND SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CFO REVIEWS THE 990 BEFORE IT IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4YEAR END REVIEW PROCESS INCLUDES EVALUATION OF PERFORMANCE AND ANY COMPENSATION CHANGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART V, LINE 2A:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00

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