Capital For Change Inc
- Assets
- $69.6m
- Revenue
- $10.3m
- Investments
- $0.0
- Employees
- 56
- Location
- Wallingford, CT
- Founding
- 05/1968
- Data as of
- 03/2022
- EIN
- 06-0842738
Organization Overview
Capital For Change Inc is located in Wallingford, CT. The organization was established in 1968. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 03/2022, Capital For Change Inc employed 56 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Capital For Change Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2022, Capital For Change Inc generated $10.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $8.2m during the year ending 03/2022. While expenses have increased by 17.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RESPONSIVE FINANCIAL SERVICES FOR INCLUSIVE & SUSTAINABLE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COVERING ALL OF CONNECTICUT, C4C IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) APPROVED BY THE US TREASURY TO PROVIDE A VARIETY OF FINANCIAL SERVICES TO CONSUMERS, NONPROFITS, BUSINESSES, AND PUBLIC INSTITUTIONS. INSTITUTIONAL AS WELL AS PRIVATE SOCIAL IMPACT INVESTORS TRUST C4C WITH THEIR FUNDS BECAUSE OF HOW WELL WE MANAGE RISK AND THE RESULTS WE DELIVER, OVER 7,000 AFFORDABLE HOUSING UNITS, THOUSANDS OF JOBS AND SIGNIFICANT CO2 REDUCTION. C4C'S FINANCIAL BASE OF $70 MILLION IN ASSETS HAS ENABLED THOUSANDS OF LOANS FOR CONSUMER AND COMMERCIAL HOUSING AND ENERGY EFFICIENCY IMPROVEMENTS THIS YEAR ALONE. C4C ALSO HAS DECADES OF EXPERIENCE IN LOAN SERVICING FOR STATE AND MUNICIPAL PUBLIC INSTITUTIONS, IN PARTICULAR FOR ENERGY EFFICIENCY LOAN PROGRAMS. SEE WWW.CAPITALFORCHANGE.ORG FOR MORE DETAILS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Calvin B Vinal President & CEO (until 11/2021) | OfficerTrustee | 37 | $214,126 |
Charles Bodie CFO | Officer | 40 | $131,838 |
Carla Weil Director Of Impact&mission Alignment | 39.5 | $120,257 | |
Jeffrey Levitsky Director Of Accounting | 40 | $117,782 | |
Gary Clark Director Of Loan Servicing | 40 | $114,303 | |
Kimberly Forde Director Of Culture & Org Effectiveness | 40 | $111,700 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beacon Mechanical Services Llc Contractor | 3/30/22 | $417,816 |
Omni Mechanical Services Llc Contractor | 3/30/22 | $317,564 |
Busy Bee Services Contractor | 3/30/22 | $350,404 |
Hector Rivera Dba Hr Heating Services Contractor | 3/30/22 | $344,116 |
Absolute Air Services Llc Contractor | 3/30/22 | $282,821 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,154,565 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,151,766 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,306,331 |
| Total Program Service Revenue | $6,011,975 |
| Investment income | $17,233 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,335,539 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $407,779 |
| Compensation of current officers, directors, key employees. | $181,039 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,921,790 |
| Pension plan accruals and contributions | $95,993 |
| Other employee benefits | $356,591 |
| Payroll taxes | $264,362 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $105,080 |
| Fees for services: Accounting | $126,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $669,895 |
| Advertising and promotion | $0 |
| Office expenses | $96,255 |
| Information technology | $198,092 |
| Royalties | $0 |
| Occupancy | $147,799 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,269 |
| Interest | $1,324,509 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $266,838 |
| Insurance | $127,499 |
| All other expenses | $8,652 |
| Total functional expenses | $8,158,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,139,992 |
| Savings and temporary cash investments | $1,330,317 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,856,335 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,540 |
| Net Land, buildings, and equipment | $3,534,577 |
| Investments—publicly traded securities | $1,151,275 |
| Investments—other securities | $0 |
| Investments—program-related | $48,577,701 |
| Intangible assets | $0 |
| Other assets | $15,090 |
| Total assets | $69,646,827 |
| Accounts payable and accrued expenses | $736,783 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,303,972 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $142,000 |
| Secured mortgages and notes payable | $40,307,259 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,045,486 |
| Total liabilities | $50,535,500 |
| Net assets without donor restrictions | $13,967,185 |
| Net assets with donor restrictions | $5,144,142 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $69,646,827 |
Grants Awarded
Over the last fiscal year, Capital For Change Inc has awarded $234,013 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bridgeport, CT PURPOSE: NEIGHBORHOOD ASSISTANCE ACT GRANT | $225,000 |
PMA PROPERTIES LLC PURPOSE: NEIGHBORHOOD ASSISTANCE ACT GRANT | $9,013 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Capital For Change Inc has recieved totaling $320,088.
| Awarding Organization | Amount |
|---|---|
Hartford Foundation For Public Giving Hartford, CT PURPOSE: GENERAL SUPPORT | $300,000 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: COMMUNITY AND ECONOMIC DEVELOPMENT | $10,000 |
Liberty Bank Foundation Middletown, CT PURPOSE: TO SUPPORT GENERAL OPERATING EXPENSES | $5,000 |
Liberty Bank Foundation Middletown, CT PURPOSE: TO SUPPORT GENERAL OPERATING EXPENSES | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $88 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Green Energy Consumers Alliance Inc Jamaica Plain, MA | $5,258,503 | $8,625,489 |
Capital For Change Inc Wallingford, CT | $69,646,827 | $10,335,539 |
Operation Fuel Inc Hartford, CT | $2,801,976 | $6,597,042 |
Bclf Ventures Inc Boston, MA | $107,589,450 | $9,107,552 |
Webster Apartments Congers, NY | $14,551,827 | $6,588,397 |
Rental Assistance Corporation Of Buffalo Buffalo, NY | $7,021,377 | $3,957,549 |
Westside Ministries Inc Buffalo, NY | $1,861,315 | $3,049,976 |
Niagara Falls Neighborhood Housing Services Inc Niagara Falls, NY | $3,221,959 | $1,818,977 |
Neighborhood Housing Service Of New Britain Inc New Britain, CT | $9,799,451 | $3,488,244 |
Northfield Community Ldc Of Staten Island Inc Staten Island, NY | $972,612 | $2,043,555 |
Housing Corporation Of Arlington Arlington, MA | $44,078,576 | $2,009,359 |
Community Capital New York Inc Elmsford, NY | $13,076,152 | $2,371,640 |