The Community Development Venture Capital Alliance
- Assets
- $11.8m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 5
- Location
- New York, NY
- Founding
- 09/1995
- Data as of
- 12/2021
- EIN
- 41-1800192
Organization Overview
The Community Development Venture Capital Alliance is located in New York, NY. The organization was established in 1995. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Community Development Venture Capital Alliance employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Development Venture Capital Alliance 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, Community Development Venture Capital Alliance generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.5% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 6.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CDVCA PROMOTES THE AVAILABILITY OF STARTUP AND GROWTH CAPITAL FOR BUSINESSES TO CREATE GOOD JOBS, ENTREPRENEURIAL CAPACITY, AND PRODUCTIVE WEALTH THAT ADVANCE THE LIVELIHOODS OF LOW-INCOME PEOPLE AND THE ECONOMIES OF DISTRESSED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMMUNITY DEVELOPMENT VENTURE CAPITAL ALLIANCE (CDVCA) IS THE TRADE ASSOCIATION OF THE COMMUNITY DEVELOPMENT VENTURE CAPITAL INDUSTRY. INCORPORATED AS A NOT-FOR-PROFIT, TAX-EXEMPT CORPORATION IN 1995, CDVCA PROMOTES USE OF THE TOOLS OF VENTURE CAPITAL TO CREATE JOBS, ENTREPRENEURIAL CAPACITY AND WEALTH TO ADVANCE THE LIVELIHOODS OF LOW-INCOME PEOPLE AND THE ECONOMIES OF DISTRESSED COMMUNITIES.COMMUNITY DEVELOPMENT VENTURE CAPITAL FUNDS PROVIDE MUCH-NEEDED EQUITY CAPITAL TO BUSINESSES IN ECONOMICALLY DISTRESSED AREAS IN THE UNITED STATES FOR THE PURPOSE OF CREATING GOOD JOBS AND ECONOMIC OPPORTUNITY FOR LOW-INCOME PEOPLE.CDVCA IS WORKING ON MANY FRONTS TO BUILD, STRENGTHEN AND SUPPORT THE COMMUNITY DEVELOPMENT VENTURE CAPITAL FIELD. PROGRAMS INCLUDE TRAINING, A CENTRAL FUND THAT INVESTS IN THE INDUSTRY, RESEARCH AND ADVOCACY.
CDVCA MANAGES AND INVESTS CAPITAL IN FUNDS AND OPERATING BUSINESSES THAT CREATE GOOD JOBS, PRODUCTIVE WEALTH AND ENTREPRENEURIAL CAPACITY THAT ADVANCE THE LIVELIHOODS OF LOW INCOME PEOPLE AND THE ECONOMIES OF DISTRESSED COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerwin Tesdell President | OfficerTrustee | 40 | $350,000 |
Ernesto Villarini Vice President | 40 | $116,531 | |
Alexandria Harris Vice President | 40 | $110,250 | |
Alan Bernstein Treasurer | OfficerTrustee | 1 | $35,000 |
Nathaniel Henshaw Chairman | OfficerTrustee | 1 | $0 |
Stanley Tucker Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $660,861 |
| All other contributions, gifts, grants, and similar amounts not included above | $180,019 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $840,880 |
| Total Program Service Revenue | $3,251,818 |
| Investment income | $622 |
| 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 | $4,103,408 |
| 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. | $420,000 |
| Compensation of current officers, directors, key employees. | $36,650 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $352,701 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,491 |
| Payroll taxes | $42,154 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,087 |
| Fees for services: Accounting | $89,611 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $80,916 |
| Advertising and promotion | $0 |
| Office expenses | $29,899 |
| Information technology | $3,128 |
| Royalties | $0 |
| Occupancy | $45,661 |
| Travel | $241 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,146 |
| Interest | $15,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,159 |
| Insurance | $27,087 |
| All other expenses | $0 |
| Total functional expenses | $1,209,168 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,117,586 |
| Savings and temporary cash investments | $579,176 |
| Pledges and grants receivable | $395,432 |
| Accounts receivable, net | $344,373 |
| 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 | $10,892 |
| Net Land, buildings, and equipment | $8,621 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $8,294,552 |
| Intangible assets | $0 |
| Other assets | $28,173 |
| Total assets | $11,778,805 |
| Accounts payable and accrued expenses | $147,497 |
| 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 | $1,500,000 |
| Other liabilities | $0 |
| Total liabilities | $1,647,497 |
| Net assets without donor restrictions | $9,489,170 |
| Net assets with donor restrictions | $642,138 |
| 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 | $11,778,805 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Community Development Venture Capital Alliance has recieved totaling $19.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $19 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
Homestart Inc Boston, MA | $5,713,584 | $14,864,192 |
The Community Action Agency Of Western Connecticut Inc Danbury, CT | $3,614,776 | $12,103,732 |
Massachusetts Manufacturing Extension Partnership Inc Auburn, MA | $5,456,400 | $10,807,956 |
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Newark Downtown District Management Corporation Newark, NJ | $7,203,712 | $5,205,083 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $5,197,454 | $6,457,703 |
Grow America Fund Inc Brooklyn, NY | $143,748,091 | $12,181,976 |