Leviticus 25-23 Alternative Fund Inc
- Assets
- $78.1m
- Revenue
- $9.5m
- Investments
- $0.0
- Employees
- 13
- Location
- Tarrytown, NY
- Founding
- 03/1946
- Data as of
- 12/2022
- EIN
- 13-3154100
Organization Overview
Leviticus 25-23 Alternative Fund Inc is located in Tarrytown, NY. The organization was established in 1946. According to its NTEE Classification (P28) the organization is classified as: Neighborhood Centers, under the broad grouping of Human Services and related organizations. As of 12/2022, Leviticus 25-23 Alternative Fund Inc employed 13 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Leviticus 25-23 Alternative Fund 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 12/2022, Leviticus 25-23 Alternative Fund Inc generated $9.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $3.7m during the year ending 12/2022. While expenses have increased by 8.6% per year over the past 8 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
THE LEVITICUS 25:23 ALTERNATIVE FUND IS ROOTED IN FAITH AND THE CALL FOR ECONOMIC JUSTICE. THE FUND PROVIDES FLEXIBLE CAPITAL, EXPERTISE, AND ADVOCACY TO PROPEL THE GROWTH OF MORE EQUITABLE COMMUNITIES. LEVITICUS CREATES OPPORTUNITIES FOR VULNERABLE, LOW-INCOME PEOPLE ESPECIALLY THOSE HARMED BY SYSTEMIC RACIAL AND ETHNIC DISCRIMINATION TO THRIVE AND LIVE WITH DIGNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LEVITICUS FUND'S FLEXIBLE CAPITAL AND TECHNICAL ASSISTANCE SUPPORT A RANGE OF COMMUNITY DEVELOPMENT PROJECTS SERVING LOW-INCOME COMMUNITIES AND LOW-INCOME INDIVIDUALS AND FAMILIES. IN 2022, OUR LENDING ACTIVITIES INCLUDED THE FOLLOWING CLOSED LOANS:10 LOANS TOTALING $20,124,567, WHICH PARTIALLY FINANCED ALMOST 1,000 HOUSING UNITS, INCLUDING 924 UNITS OF AFFORDABLE AND SUPPORTIVE HOUSING, PLUS A 95-BED TRANSITIONAL SHELTER; 2 LOANS TOTALING $4,000,000, WHICH PROVIDED WORKING CAPITAL FINANCING TO TWO SOCIAL SERVICE AGENCIES SERVING AT-RISK INDIVIDUALS AND FAMILIES;1 LOAN FOR $1,500,000 WHICH PARTIALLY FINANCED CONSTRUCTION OF A NEW 63,000 SF CHARTER PUBLIC SCHOOL THAT WILL SERVE 675 STUDENTS ON A CENTRAL CAMPUS, ADDING 165 NEW EDUCATIONAL SEATS TO THE EXISTING STUDENT POPULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Gregory Maher Executive Director | Officer | 40 | $235,612 |
Mr Kevin Mcqueen Director Of Lending | 40 | $144,000 | |
Mr Jose Rivera Finance Director | Officer | 40 | $156,617 |
Sr Rosemary Jeffries Rsm Board President | OfficerTrustee | 0.5 | $0 |
Ms Darlene Robinson Board Vice President | OfficerTrustee | 0.5 | $0 |
Mr Ronald Rosado Abad Board Treasurer (as Of 5/2022) | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,625,807 |
| All other contributions, gifts, grants, and similar amounts not included above | $887,316 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,513,123 |
| Total Program Service Revenue | $3,963,716 |
| Investment income | $45,609 |
| 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 | $9,522,448 |
| 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. | $461,572 |
| Compensation of current officers, directors, key employees. | $127,170 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $746,341 |
| Pension plan accruals and contributions | $58,503 |
| Other employee benefits | $64,226 |
| Payroll taxes | $79,635 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,656 |
| Fees for services: Accounting | $44,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $126,118 |
| Advertising and promotion | $40,095 |
| Office expenses | $65,007 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,501 |
| Travel | $11,621 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,869 |
| Interest | $971,548 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,682,427 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $829,630 |
| Savings and temporary cash investments | $6,251,005 |
| Pledges and grants receivable | $25,910 |
| Accounts receivable, net | $0 |
| 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 | $63,548 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $70,246,508 |
| Intangible assets | $0 |
| Other assets | $671,590 |
| Total assets | $78,088,191 |
| Accounts payable and accrued expenses | $296,977 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $51,687,045 |
| Other liabilities | $215,718 |
| Total liabilities | $52,199,740 |
| Net assets without donor restrictions | $17,632,876 |
| Net assets with donor restrictions | $8,255,575 |
| 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 | $78,088,191 |