Allies For Community Business Inc
- Assets
- $35.6m
- Revenue
- $9.1m
- Investments
- $0.0
- Employees
- 39
- Location
- Chicago, IL
- Founding
- 03/1995
- Data as of
- 12/2023
- EIN
- 36-3966573
Organization Overview
Allies For Community Business Inc is located in Chicago, IL. The organization was established in 1995. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Allies For Community Business Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Allies For Community Business 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 12/2023, Allies For Community Business Inc generated $9.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $8.8m during the year ending 12/2023. While expenses have increased by 9.2% per year over the past 9 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.
Since 2019, Allies For Community Business Inc has awarded 189 individual grants totaling $3,041,730. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE CREDIT AND SERVICES TO SMALL BUSINESSES WITHOUT ACCESS TO TRADITIONAL SOURCES OF FINANCING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALLIES FOR COMMUNITY BUSINESS (A4CB) SUPPORTS SMALL BUSINESSES THAT STRENGTHEN THEIR COMMUNITIES. THEY PROVIDE THE CAPITAL, COACHING, AND CONNECTIONS ENTREPRENEURS NEED TO GROW GREAT BUSINESSES THAT CREATE JOBS AND WEALTH THEIR COMMUNITIES. AS A NONPROFIT LOCATED ON CHICAGO'S WEST SIDE, A4CB PRIORITIZES BLACK, HISPANIC/LATINX, WOMEN, AND LOW-INCOME ENTREPRENEURS THROUGHOUT THE CHICAGOLAND AREA AND BEYOND. THEY OFFER LOANS BETWEEN $500 AND $100,000 TO EARLY, EMERGING, AND ESTABLISHED BUSINESSES AT FAIR PRICES. IN ADDITION, THEY PROVIDE FREE COACHING TO ANYONE WHO WANTS TO START OR GROW A BUSINESS, AND THEY CONNECT ENTREPRENEURS TO TRUSTED PARTNERS THAT CAN HELP FURTHER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Mcconnell Chief Executive Officer | Officer | 40 | $217,337 |
Mary Tritsis Director Of Community Busi | 40 | $168,842 | |
Rowan Richards Director Of Coaching And C | 40 | $178,478 | |
Jennie Motto Mesterharm Chief Of Staff | 40 | $140,481 | |
Mary Riley Director Of Community Rela | 40 | $142,208 | |
Jill Kozeluh Director Of Development | 40 | $146,399 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $74,068 |
| Related organizations | $0 |
| Government grants | $1,962,771 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,103,861 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,140,700 |
| Total Program Service Revenue | $1,938,034 |
| Investment income | $79,460 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$18,997 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,139,197 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $901,833 |
| Grants and other assistance to domestic individuals. | $50,707 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $235,930 |
| Compensation of current officers, directors, key employees. | $18,544 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,910,706 |
| Pension plan accruals and contributions | $76,363 |
| Other employee benefits | $281,487 |
| Payroll taxes | $254,397 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $562 |
| Fees for services: Accounting | $128,007 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $288,397 |
| Advertising and promotion | $22,536 |
| Office expenses | $83,161 |
| Information technology | $350,931 |
| Royalties | $0 |
| Occupancy | $652,155 |
| Travel | $5,040 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $957,090 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $223,273 |
| Insurance | $31,169 |
| All other expenses | $0 |
| Total functional expenses | $8,848,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,281,152 |
| Savings and temporary cash investments | $4,335,500 |
| Pledges and grants receivable | $590,801 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,824,898 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $218,796 |
| Net Land, buildings, and equipment | $358,788 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,330,956 |
| Intangible assets | $0 |
| Other assets | $3,615,812 |
| Total assets | $35,556,703 |
| Accounts payable and accrued expenses | $364,859 |
| Grants payable | $0 |
| Deferred revenue | $60,000 |
| 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 | $16,576,071 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,222,256 |
| Total liabilities | $21,223,186 |
| Net assets without donor restrictions | $6,772,125 |
| Net assets with donor restrictions | $7,561,392 |
| 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 | $35,556,703 |
Grants Awarded
Over the last fiscal year, Allies For Community Business Inc has awarded $901,730 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
AFRO JOES PURPOSE: SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $20,510 |
ESSENTIAL CREATIONS PURPOSE: SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $20,510 |
CHAZERLY DESIGNS LLC PURPOSE: SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $20,510 |
FOOD HERO PURPOSE: SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $20,510 |
GREEN GARDEN CAFE PURPOSE: SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $20,510 |
GROWING BOUNDLESSLY PURPOSE: SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $20,510 |