Civic Intelligence

Transform Capital

990 • Fiscal year 2023 • EIN 85-3613051

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 22, 2024

Organization ProfileWWW.TCCOMMUNITY.ORG
31110 N Reigate LaneLibertyville, IL 60048

(312) 307-8774

Siviq Scores

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

Liabilities / Assets

76th percentile

0.32x

Higher debt load relative to assets than 76% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

89th percentile

1.21x

Higher debt load relative to revenue than 89% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

98th percentile

93%

Higher net margin than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

40th percentile

$4,400

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

92nd percentile

68%

Faster asset growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

71st percentile

25%

Faster revenue growth than 71% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$1,566,857

Up $636,302 (+68%) from 2022

Net Assets

Up

$1,070,970

Up $379,594 (+55%) from 2022

Liabilities

Up

$495,887

Up $256,708 (+107%) from 2022

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin98th percentile

Revenue

Up

$409,135

Up $82,290 (+25%) from 2022

Expenses

Up

$29,541

Up $11,349 (+62%) from 2022

Net Income

Up

$379,594

Up $70,941 (+23%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2021: $507,805Liabilities 2021: $125,082Net Assets 2021: $382,7232021Assets 2022: $930,555Liabilities 2022: $239,179Net Assets 2022: $691,3762022Assets 2023: $1,566,857Liabilities 2023: $495,887Net Assets 2023: $1,070,9702023Assets 2024: $3,077,322Liabilities 2024: $525,494Net Assets 2024: $2,551,8282024

Highlighted filing

2023

Assets$1,566,857
Liabilities$495,887
Net Assets$1,070,970
Open 2023 Filing

Operations Trend

Revenue Growth71st percentile

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

$2.0M$1.5M$1.0M$500K$0Revenue 2021: $397,747Expenses 2021: $13,211Net Income 2021: $384,5362021Revenue 2022: $326,845Expenses 2022: $18,192Net Income 2022: $308,6532022Revenue 2023: $409,135Expenses 2023: $29,541Net Income 2023: $379,5942023Revenue 2024: $1,519,962Expenses 2024: $39,104Net Income 2024: $1,480,8582024

Highlighted filing

2023

Revenue$409,135
Expenses$29,541
Net Income$379,594
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 22, 2024
Return Version
2023v5.1
Gross Receipts
$409,135
Mission and Program Overview

Mission

Transform capital is a lending platform which raises tax-deductable funding and places that funding into market-rate mortgage and business loans for deserving families in dis-invested local communities.

Transform capital is a lending platform which raises tax-deductible funding and places that funding into market-rate or below market-rate mortgage and business loans for deserving families in dis-invested local communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$656,205$994,197▲ $337,992
Savings and Temporary Cash Investments$263,099$524,223▲ $261,124
Cash and Non-Interest-Bearing Accounts-$41,580-
Accounts Receivable$5,602$2,992▼ $2,610
Pledges and Grants Receivable$3,306$2,645▼ $661
Prepaid Expenses and Deferred Charges$631$650▲ $19
Land, Buildings, and Equipment, Net$1,712$570▼ $1,142
Total Assets$930,555$1,566,857▲ $636,302
Liabilities
Mortgage Notes Payable Secured by Investment Property$225,000$475,000▲ $250,000
Other Liabilities$14,103$20,887▲ $6,784
Accounts Payable and Accrued Expenses$76--
Total Liabilities$239,179$495,887▲ $256,708
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$691,376$1,070,970▲ $379,594
Total Net Assets Fund Balance$691,376$1,070,970▲ $379,594
Total Liabilities and Net Assets / Fund Balance$930,555$1,566,857▲ $636,302

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$570$2,855$3,425
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Andrea MccroryDirectorPT$4,400$4,400

Board Members and Trustees

NameTitle
Mark ChassmanChair
Frederick TolbertVice Chair
Stephen KawasakiSecretary
Paul HawkinsonTreasurer and Executive Di
Revenue and Support

Revenue Composition

Contributions and Grants
$348,309
Program Service Revenue
$58,548
Investment Income
$1,911
Other Revenue
$367
All Other Contributions
$348,309
Change in Net Assets
$379,594

Audited Revenue Reconciliation

Revenue per Audited Statements
$409,135
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$409,135
Total Revenue per Form 990
$409,135
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$29,541
Total Fundraising Expense$764
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$4,000$550-$4,550
Fees for Services Accounting-$3,413-$3,413
All Other Expenses$1,407$83-$1,490
Insurance-$1,400-$1,400
Depreciation Depletion-$1,142-$1,142
Other Expenses$2,022$3,473$764$764
Total Functional Expenses$18,716$10,061$764$29,541

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$29,541
Total Expenses per Audited Statements$29,541
Total Expenses per Form 990$29,541
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Client Escrow Liabilities$20,887
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The form 990 is reviewed by the executive director and officers of the board of directors before filing.”

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

“The organization annually reviews any conflicts with the board and management in accordance with the conflict of interest policy.”

Form 990, Part VI, Section C, Line 18

“Form 990 is available for inspection upon request.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest, and financial statements available to the public through request.”

Filing and Contact Details

Filer

Filer Name
Transform Capital
EIN
85-3613051
Phone
3123078774
Address
31110 N REIGATE LANE, LIBERTYVILLE, IL 60048

Signing Officer

Name
Mark Chassman
Title
Chair
Phone
3123078774
Signed
2024-07-22

Organization Details

Principal Officer
Mark Chassman
Formed
2020
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Cheryl Rohlfs & Associates Ltd
Address
401 HUEHL ROAD SUITE 1E, NORTHBROOK, IL 60062
Preparer
Cheryl K Rohlfs CPA
Phone
8477539200
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional fees: program service expenses 4,000. Management and general expenses 550. Fundraising expenses 0. Total expenses 4,550.”

Raw XML Appendix382 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/Desc0CAPITAL / TRANSFORM CAPITAL RAISES A TAX-DEDUCTABLE FUNDING BASE AND DEPLOYS THIS FUNDING INTO MARKET-RATE OR BELOW MARKET-RATE MORTGAGE AND BUSINESS LOANS FOR DESERVING FAMILIES IN DIS-INVESTED LOCAL ILLINOIS COMMUNITIES. 100% OF OUR CLIENTS ARE SOURCED ON REFERRAL FROM EXISTING ORGANIZATIONS ALREADY LONG SERVING THE COMMUNITY. OUR INITIAL COMMUNITY FOCUS IS NORTH CHICAGO, ILLINOIS. WE LIMIT OPERATING COSTS AT EVERY TURN, SO THAT WE CAN RECYCLE CAPITAL FOR ANOTHER CLIENT. AS OUR CLIENTS PAY BACK LOANS, THEY BECOME ON INTEGRAL PART OF "PAYING IT FORWARD" TO MAKE OWNERSHIP POSSIBLE FOR ANOTHER NEIGHBOR. WE ARE ENGAGING IN CONVERSATION WITH OTHER COMMUNITIES ACROSS THE NATION TO EXTEND THE REACH OF OUR MISSION APPROACH.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS - 2021 AMOUNT: $ 2,318. 2022 AMOUNT: $ 5,225. 2023 AMOUNT: $ 367. ADVISORY FEES - 2023 AMOUNT: $ 30,000.
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IRS990ScheduleA/SubstantialContributorsTotAmt0345798
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0348309
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0301390
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0385998
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01036697
IRS990ScheduleA/TotalSupportAmt01134727
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/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt029541
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0570
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02855
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03425
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020887
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CLIENT ESCROW LIABILITIES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0409135
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0570
IRS990ScheduleD/TotalExpensesPerForm990Amt029541
IRS990ScheduleD/TotalLiabilityAmt020887
IRS990ScheduleD/TotalRevenuePerForm990Amt0409135
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0409135
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt029541
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND OFFICERS OF THE BOARD OF DIRECTORS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION ANNUALLY REVIEWS ANY CONFLICTS WITH THE BOARD AND MANAGEMENT IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS AVAILABLE FOR INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC THROUGH REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 4,000. MANAGEMENT AND GENERAL EXPENSES 550. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,550.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0930555
IRS990/TotalAssetsEOYAmt01566857
IRS990/TotalAssetsGrp/BOYAmt0930555
IRS990/TotalAssetsGrp/EOYAmt01566857
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0348309
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0764
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010061
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt018716
IRS990/TotalFunctionalExpensesGrp/TotalAmt029541
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0239179
IRS990/TotalLiabilitiesEOYAmt0495887
IRS990/TotalLiabilitiesGrp/BOYAmt0239179
IRS990/TotalLiabilitiesGrp/EOYAmt0495887
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0691376
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01070970
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt018716
IRS990/TotalProgramServiceRevenueAmt058548
IRS990/TotalReportableCompFromOrgAmt04400
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt060826
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0409135
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0930555
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01566857
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt031110 N REIGATE LANE
IRS990/USAddress/CityNm0LIBERTYVILLE
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060048
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.TCCOMMUNITY.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MARK CHASSMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum03123078774
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TRANSFORM CAPITAL
ReturnHeader/Filer/BusinessNameControlTxt0TRAN
ReturnHeader/Filer/EIN0853613051
ReturnHeader/Filer/PhoneNum03123078774
ReturnHeader/Filer/USAddress/AddressLine1Txt031110 N REIGATE LANE
ReturnHeader/Filer/USAddress/CityNm0LIBERTYVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060048
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363998687
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHERYL ROHLFS & ASSOCIATES LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0401 HUEHL ROAD SUITE 1E
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORTHBROOK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060062
ReturnHeader/PreparerPersonGrp/PhoneNum08477539200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHERYL K ROHLFS CPA
ReturnHeader/ReturnTs02024-07-22T16:11:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MARK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CHASSMAN
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,566,857
Liabilities
$495,887
Net assets
$1,070,970
Revenue
$409,135
Expenses
$29,541
Net income
$379,594
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.08$0.53$2.55$1.52$0.04$1.48
2023Detailed filing. Detailed filing data is available for this year.$1.57$0.50$1.07$0.41$0.03$0.38
2022Detailed filing. Detailed filing data is available for this year.$0.93$0.24$0.69$0.33$0.02$0.31
2021Detailed filing. Detailed filing data is available for this year.$0.51$0.13$0.38$0.40$0.01$0.38