Allies For Community Business Inc
- Assets
- $54.7m
- Revenue
- $12.5m
- Investments
- $0.0
- Employees
- 33
- Location
- Chicago, IL
- Founding
- 03/1995
- Data as of
- 12/2021
- 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 12/2021, Allies For Community Business Inc employed 33 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 12/2021, Allies For Community Business Inc generated $12.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $6.7m during the year ending 12/2021. While expenses have increased by 9.0% per year over the past 6 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 143 individual grants totaling $2,080,000. 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
2021
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 PROVIDES LOANS TO COMMITTED ENTREPRENUERS WHO LACK ACCESS TO AFFORDABLE FINANCING OPTIONS. LOANS RANGE FROM $500 TO $100,000 WITH LOAN TERMS UP TO 10 YEARS. ALLIES FOR COMMUNITY BUSINESS ALSO OFFERS FREE TECHNICAL ASSISTANCE AND BUSINESS COACHING FOR SMALL AND EMERGING ENTERPRISES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Mcconnell Chief Executive Officer | Officer | 40 | $160,038 |
Rowan Richards Director Of Coaching And C | 40 | $144,884 | |
Mary Tritsis Director Of Community Busi | 40 | $136,469 | |
Isabel Cristina Velez Diez Director Of Operations And Strategy | 40 | $127,800 | |
Jennie Motto Mesterharm Chief Of Staff | 40 | $123,368 | |
Mary Riley Director Of Community Rela | 40 | $120,881 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,916,185 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,393,943 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,310,128 |
| Total Program Service Revenue | $1,107,801 |
| Investment income | $34,649 |
| 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 | $12,452,578 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,950,000 |
| Grants and other assistance to domestic individuals. | $465,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $160,038 |
| Compensation of current officers, directors, key employees. | $23,206 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,426,082 |
| Pension plan accruals and contributions | $53,014 |
| Other employee benefits | $212,569 |
| Payroll taxes | $205,504 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $73 |
| Fees for services: Accounting | $177,199 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $654,862 |
| Advertising and promotion | $95,480 |
| Office expenses | $79,213 |
| Information technology | $477,503 |
| Royalties | $0 |
| Occupancy | $448,128 |
| Travel | $408 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $877,740 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,468 |
| Insurance | $24,221 |
| All other expenses | $0 |
| Total functional expenses | $6,695,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,669,781 |
| Savings and temporary cash investments | $8,973,654 |
| Pledges and grants receivable | $697,872 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,187,265 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $134,100 |
| Net Land, buildings, and equipment | $367,195 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,696,149 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $54,726,016 |
| Accounts payable and accrued expenses | $707,576 |
| Grants payable | $0 |
| Deferred revenue | $118,835 |
| 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 | $24,328,228 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,738,718 |
| Total liabilities | $35,893,357 |
| Net assets without donor restrictions | $3,918,019 |
| Net assets with donor restrictions | $14,914,640 |
| 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 | $54,726,016 |
Grants Awarded
Over the last fiscal year, Allies For Community Business Inc has awarded $1,900,000 in support to 134 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: "SUPPORT FOR THE HATCHERY INCUBATOR AND HATCH MADE MEALS PROGRAM | $100,000 |
San Antonio, TX PURPOSE: PAYMENTS TO CDFI PARTNERS TO ASSIST A4CB REACH CLIENTS IN THEIR MARKETS | $80,000 |
Albuquerque, NM PURPOSE: PAYMENTS TO CDFI PARTNERS TO ASSIST A4CB REACH CLIENTS IN THEIR MARKETS | $80,000 |
New York, NY PURPOSE: PAYMENTS TO CDFI PARTNERS TO ASSIST A4CB REACH CLIENTS IN THEIR MARKETS | $80,000 |
San Jose, CA PURPOSE: PAYMENTS TO CDFI PARTNERS TO ASSIST A4CB REACH CLIENTS IN THEIR MARKETS | $80,000 |
ENGLEWOOD HARDWARE AND PAINT PURPOSE: SUPPORT FOR NEIGHBORHOOD ENTREPRENEURS PROGRAM COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Allies For Community Business Inc has recieved totaling $438,604.
| Awarding Organization | Amount |
|---|---|
Opportunity Finance Network Philadelphia, PA PURPOSE: OFNS SMALL BUSINESS GRANT PROGRAM FUNDED BY GOOGLE.ORG | $150,000 |
Great Rivers Community Tr Zebulon, NC PURPOSE: GENERAL SUPPORT | $71,689 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $50,000 |
The Christopher Family Foundation Westmont, IL PURPOSE: GENERAL SUPPORT | $50,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $50,000 |
Chicago Foundation For Women Chicago, IL PURPOSE: ENGLEWOOD WOMEN'S INITIATIVE | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wisconsin Womens Business Initiative Corporation Milwaukee, WI | $42,014,379 | $10,583,804 |
Allies For Community Business Inc Chicago, IL | $54,726,016 | $12,452,578 |
Small Business Aid Inc Shipshewana, IN | $1,429,380 | $3,351,237 |
Bunker Labs Nfp Inc Chicago, IL | $3,938,287 | $4,312,612 |
Technology Entrepreneur Center Inc St Louis, MO | $14,793,185 | $1,740,629 |
Bioconnect Iowa Des Moines, IA | $1,127,931 | $1,803,790 |
Premier Capital Corporation Indianapolis, IN | $2,695,127 | $1,528,792 |
Startingblock Madison Inc Madison, WI | $3,788,993 | $962,585 |
South Central Ozark Council Of Governments Pomona, MO | $2,561,241 | $1,014,983 |
Growth Alliance For Greater Evansville Inc Evansville, IN | $3,067,417 | $736,027 |
Regional Development Company Valparaiso, IN | $1,015,697 | $931,106 |
Iowa Community Capital Boone, IA | $2,471,585 | $1,776,388 |