Civic Intelligence

Altcap California

990 • Fiscal year 2023 • EIN 87-4700265

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization ProfileALTCAP.ORG
3415 South Sepulveda Blvd Suite 110Los Angeles, CA 90034

(310) 874-6233

Siviq Scores

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

Liabilities / Assets

59th percentile

0.09x

Higher debt load relative to assets than 59% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

90th percentile

1.51x

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

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

2nd percentile

-151%

Higher net margin than 2% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

91st percentile

$211,049

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 70.8% of source-year revenue.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

98th percentile

373%

Faster asset growth than 98% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

3rd percentile

-78%

Faster revenue growth than 3% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$4,843,341

Up $3,818,341 (+373%) from 2022

Net Assets

Up

$4,393,341

Up $3,368,341 (+329%) from 2022

Liabilities

Up

$450,000

Up $450,000 from 2022

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin2nd percentile

Revenue

Down

$297,922

Down $1,071,552 (-78%) from 2022

Expenses

Up

$747,672

Up $403,198 (+117%) from 2022

Net Income

Down

-$449,750

Down $1,474,750 (-144%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$15M$10M$5.0M$0Assets 2022: $1,025,000Liabilities 2022: $0Net Assets 2022: $1,025,0002022Assets 2023: $4,843,341Liabilities 2023: $450,000Net Assets 2023: $4,393,3412023Assets 2024: $10,718,598Liabilities 2024: $3,050,000Net Assets 2024: $7,668,5982024

Highlighted filing

2023

Assets$4,843,341
Liabilities$450,000
Net Assets$4,393,341
Open 2023 Filing

Operations Trend

Revenue Growth3rd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2022: $1,369,474Expenses 2022: $344,474Net Income 2022: $1,025,0002022Revenue 2023: $297,922Expenses 2023: $747,672Net Income 2023: -$449,7502023Revenue 2024: $4,579,140Expenses 2024: $1,303,883Net Income 2024: $3,275,2572024

Highlighted filing

2023

Revenue$297,922
Expenses$747,672
Net Income-$449,750
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$297,922
Mission and Program Overview

Mission

To be a catalyst for investment in Los Angeles metropolitan communities throught innovative financial products, targeted economic and community development programming, and the development of strategic partnerships that promote community collaboration and capacity building.

See description on Page 2, Part III, Line 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related-$4,666,163-
Cash and Non-Interest-Bearing Accounts$1,025,000$161,858▼ $863,142
Prepaid Expenses and Deferred Charges-$15,320-
Total Assets$1,025,000$4,843,341▲ $3,818,341
Liabilities
Unsecured Notes Loans Payable-$450,000-
Total Liabilities$0$450,000▲ $450,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,025,000$4,393,341▲ $3,368,341
Total Net Assets Fund Balance$1,025,000$4,393,341▲ $3,368,341
Total Liabilities and Net Assets / Fund Balance$1,025,000$4,843,341▲ $3,818,341

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$4,666,163--
Compensation and Service Providers
Top Officer Pay91st percentile

Board Members and Trustees

NameTitle
Jacquelyn JonesChair
David Desai-ramirezPresident
Ruben Alonso IiiSecretary
Daniel FernandezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$295,331
Investment Income
$0
Other Revenue
$2,591
Change in Net Assets
$-449,750

Audited Revenue Reconciliation

Revenue per Audited Statements
$297,922
Total Revenue per Audited Statements
$297,922
Total Revenue per Form 990
$297,922
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$508,398
Salaries, Compensation, and Employee Benefits$239,274
Total Fundraising Expense$158,681
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$47,855$119,637$71,782$239,274
Other Expenses$233,867--$233,867
Fees for Services Other$116,742--$116,742
Fees for Services Legal--$81,221$81,221
Travel-$19,572-$19,572
Office Expenses$3,786$9,464$5,678$18,928
Conferences and Meetings-$10,614-$10,614
Fees for Services Accounting-$2,991-$2,991
All Other Expenses$2,503$361-$2,864
Total Functional Expenses$426,352$162,639$158,681$747,672

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$747,672
Total Expenses per Audited Statements$747,672
Total Expenses per Form 990$747,672
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
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 A, Line 8B

“This question is not applicable because committees cannot bind the Organization without board approval. However, the question must be answered to electronically file. Accordingly, we checked no to signify that the question is not applicable.”

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

“The tax return is prepared by an external accountant and reviewed by management. After review by management the return is provided to the full board for review prior to being filed with the IRS.”

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

“The Organizations management level employees and its Board of Directors annually review the Conflict of Interest policy.”

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

“These questions are not applicable because the Organization does not pay compensation to anyone meeting this definition. However, the questions must be answered to electronically file. Accordingly we checked No to signify that the questions are not applicable.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy, financial statements, and Form 990 tax returns are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Altcap California
EIN
87-4700265
Phone
3108746233
Address
3415 SOUTH SEPULVEDA BLVD SUITE 110, LOS ANGELES, CA 90034

Signing Officer

Name
David Desai-ramirez
Title
Market President
Phone
3108746233
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Desai-ramirez
Formed
2021
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Welch & Associates LLC
Address
2405 GRAND BOULEVARD SUITE 1040, KANSAS CITY, MO 64108
Preparer
Brian D Welch
Phone
8167562620
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contractors for loan processing, underwriting, technical assistance and other ancillary services related to our lending activities discussed at Part III, 4a.”

Form 990, Part XI, Line 9

“We received and equity contribution from AltCap.”

Financial Statement Notes

X 2

“The Corporation accounts for tax positions in accordance with guidance on accounting for uncertaintax positions. Tax positions taken may include positions that the Corporation is exempt from incometaxes or be related to how the Corporation determines its unrelated business income. TheCorporation recognizes the financial statement effects of a tax position only when it believes it canmore likely than not sustain the position upon an examination by the relevant tax authority.”

Raw XML Appendix377 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0This question is not applicable because committees cannot bind the Organization without board approval. However, the question must be answered to electronically file. Accordingly, we checked no to signify that the question is not applicable.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The tax return is prepared by an external accountant and reviewed by management. After review by management the return is provided to the full board for review prior to being filed with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organizations management level employees and its Board of Directors annually review the Conflict of Interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3These questions are not applicable because the Organization does not pay compensation to anyone meeting this definition. However, the questions must be answered to electronically file. Accordingly we checked No to signify that the questions are not applicable.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The governing documents, conflict of interest policy, financial statements, and Form 990 tax returns are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Contractors for loan processing, underwriting, technical assistance and other ancillary services related to our lending activities discussed at Part III, 4a.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6We received and equity contribution from AltCap.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15 a,b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, Line 9
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ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$4,843,341
Liabilities
$450,000
Net assets
$4,393,341
Revenue
$297,922
Expenses
$747,672
Net income
-$449,750
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$3.05$7.67$4.58$1.30$3.28
2023Detailed filing. Detailed filing data is available for this year.$4.84$0.45$4.39$0.30$0.75$0.45
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.00$1.03$1.37$0.34$1.03