Ica Fund is located in Oakland, CA. The organization was established in 2003. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Ica Fund employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ica Fund 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, Ica Fund generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.6% each year . All expenses for the organization totaled $4.4m during the year ending 12/2022. While expenses have increased by 13.6% 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
PROVIDE COACHING, CONNECTIONS, AND CAPITAL TO GROW SAN FRANCISCO BAY AREA BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1 NEW CONVERTIBLE LOAN, 4 NEW WORKING CAPITAL LOAN, 9 NEW IMPACT NOTES DEPLOYED TO SMALL BUSINESS.
75 ENTREPRENEURS SERVED THROUGH EDUCATION OFFERINGS.
193.3 HOURS OF ADVISING HOURS PROVIDED TO SMALL BUSINESSES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jack Russi Co-Chair | OfficerTrustee | 2 | $0 |
Jim Harris Co-Chair, Investment Committee Chair | OfficerTrustee | 2 | $0 |
Jim King Development Committee Chair | OfficerTrustee | 2 | $0 |
Dennis Green Audit Committee Chair | OfficerTrustee | 2 | $0 |
Wilbur Hobbs Treasurer, Finance Committee Chair | OfficerTrustee | 2 | $0 |
Justina Lai Board Member | Trustee | 2 | $0 |
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 | $6,386,491 |
Noncash contributions included in lines 1a–1f | $1,104 |
Total Revenue from Contributions, Gifts, Grants & Similar | $6,386,491 |
Total Program Service Revenue | $271,665 |
Investment income | $0 |
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 | $6,663,281 |
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. | $844,222 |
Compensation of current officers, directors, key employees. | $44,060 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,456,428 |
Pension plan accruals and contributions | $115,939 |
Other employee benefits | $235,900 |
Payroll taxes | $151,608 |
Fees for services: Management | $0 |
Fees for services: Legal | $24,313 |
Fees for services: Accounting | $76,435 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $182,043 |
Advertising and promotion | $40,484 |
Office expenses | $238,869 |
Information technology | $29,957 |
Royalties | $0 |
Occupancy | $82,621 |
Travel | $32,141 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $31,073 |
Interest | $758,120 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $16,494 |
All other expenses | $0 |
Total functional expenses | $4,401,992 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,184,070 |
Savings and temporary cash investments | $5,115,683 |
Pledges and grants receivable | $710,373 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $1,080 |
Investments—other securities | $0 |
Investments—program-related | $10,197,738 |
Intangible assets | $53,835 |
Other assets | $108,521 |
Total assets | $19,371,300 |
Accounts payable and accrued expenses | $392,811 |
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 | $6,000,000 |
Other liabilities | $0 |
Total liabilities | $6,392,811 |
Net assets without donor restrictions | $10,349,827 |
Net assets with donor restrictions | $2,628,662 |
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 | $19,371,300 |
Over the last fiscal year, Ica Fund has awarded $126,843 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
WORKING SOLUTIONS CDFI PURPOSE: GENERAL SUPPORT | $75,000 |
MILLS COLLEGE PURPOSE: GENERAL SUPPORT | $51,843 |