Ncrc Community Development Fund Inc
- Assets
- $60.5m
- Revenue
- $1.4m
- Investments
- $1.3m
- Employees
- 0
- Location
- Washington, DC
- Founding
- 08/2010
- Data as of
- 12/2022
- EIN
- 26-1269202
Organization Overview
Ncrc Community Development Fund Inc is located in Washington, DC. The organization was established in 2010. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ncrc Community Development 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, Ncrc Community Development Fund Inc generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.2%) each year. All expenses for the organization totaled $3.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Ncrc Community Development Fund Inc has awarded 66 individual grants totaling $2,250,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACT AS A LENDING INSTITUTION TO LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES AND TO PROVIDE CREDIT TO LOW IN INCOME INDIVIDUALS AND BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMALL BUSINESS:THE SMALL BUSINESS PROGRAM PROVIDES FUNDING TO MINORITY-OWNED, WOMEN-OWNED, AND LOW-INCOME OWNED BUSINESSES.
GROWTH:THE GROWTH PROGRAM PROVIDES FUNDING TO ITS AFFILIATES, NCRC HOUSING REHAB FUND, LLC ("NCRC HRF") AND NCRC HOLDING, LLC AND OTHER ENTITIES, TO REHABILITATE, DEVELOP, AND PROMOTE AFFORDABLE HOUSING AND HOME OWNERSHIP IN LOW- AND MODERATE-INCOME CENSUS TRACTS FOR PERSONS OF LOW- OR MODERATE-INCOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jesse Van Tol Board Chair | OfficerTrustee | 4 | $0 |
Irvin Henderson Treasurer | OfficerTrustee | 2 | $0 |
Maryellen Lewis Secretary | OfficerTrustee | 2 | $0 |
Robert Dickerson Jr Director | Trustee | 2 | $0 |
Charles Harris Director | Trustee | 2 | $0 |
Donna Gambrell Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,000 |
| Total Program Service Revenue | $1,417,195 |
| Investment income | $18,615 |
| 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 | $1,445,810 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $510,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $134,077 |
| Fees for services: Accounting | $34,892 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,221,571 |
| Advertising and promotion | $48,684 |
| Office expenses | $1,306 |
| Information technology | $10,318 |
| Royalties | $0 |
| Occupancy | $12,121 |
| Travel | $66,703 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,052 |
| Interest | $930,598 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,989,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,051,968 |
| Savings and temporary cash investments | $910,963 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,241,581 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50,012,592 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,898 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,300,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $60,523,002 |
| Accounts payable and accrued expenses | $126,480 |
| 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 | $36,000,000 |
| Other liabilities | $309,428 |
| Total liabilities | $36,435,908 |
| Net assets without donor restrictions | $23,955,462 |
| Net assets with donor restrictions | $131,632 |
| 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 | $60,523,002 |
Grants Awarded
Over the last fiscal year, Ncrc Community Development Fund Inc has awarded $2,250,000 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
1ST NEEDS MEDICAL PURPOSE: SMALL BUSINESS SUPPORT | $20,000 |
AFFORDABLE HOUSING CONSULTANTS INC PURPOSE: SMALL BUSINESS SUPPORT | $20,000 |
AIRCUTS & DAY SPA LLC PURPOSE: SMALL BUSINESS SUPPORT | $20,000 |
AMERICAN SMART ECO LIFESTYLE ASEL INC PURPOSE: SMALL BUSINESS SUPPORT | $20,000 |
AR PROFESSIONAL PROPERTY PRESERVATION INC PURPOSE: SMALL BUSINESS SUPPORT | $20,000 |
AMBROSIA EVENTS LLC PURPOSE: SMALL BUSINESS SUPPORT | $20,000 |