Raza Development Fund Inc
- Assets
- $287.3m
- Revenue
- $23.2m
- Investments
- $739.9k
- Employees
- 40
- Location
- Phoenix, AZ
- Founding
- 03/1996
- Data as of
- 09/2021
- EIN
- 52-1954196
Organization Overview
Raza Development Fund Inc is located in Phoenix, AZ. The organization was established in 1996. 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 09/2021, Raza Development Fund Inc employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Raza 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 09/2021, Raza Development Fund Inc generated $23.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $16.7m during the year ending 09/2021. While expenses have increased by 9.5% 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 2015, Raza Development Fund Inc has awarded 164 individual grants totaling $3,169,798. 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
RAZA DEVELOPMENT FUND'S MISSION IS TO CREATE FINANCING SOLUTIONS THAT INCREASE OPPORTUNITIES FOR THE LATINO COMMUNITY AND LOW-INCOME FAMILIES IN THE AREAS OF AFFORDABLE HOUSING, EDUCATION AND HEALTH CARE. RDF TRULY INVESTS IN THE DREAMS AND HOPES OF UNIDOSUS AFFILIATES AND OTHER NOT-FOR-PROFIT SOCIAL SERVICE ORGANIZATIONS BUILDING UP THEIR COMMUNITIES, AND THEREBY TOUCHING THE LIVES OF THOUSANDS OF FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOAN FUND PROGRAMS: LENDING PROGRAMS TO ASSIST HISPANIC AGENCIES AS WELL AS OTHER AGENCIES SERVING LOW INCOME COMMUNITIES BY INCREASING ACCESS TO CAPITAL, STRENGTHENING AFFILIATE RELATIONS AND PROMOTE ECONOMIC AND FINANCIAL LITERACY AT THE AGENCY LEVEL. LOANS APPROVED 520.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Espinoza President/ceo | OfficerTrustee | 40 | $432,730 |
Rodrigo Vela Chief Financial Officer | Officer | 40 | $266,448 |
David Clower Chief Investment Officer | Officer | 40 | $264,546 |
Mark Van Brunt Executive Vice President | Officer | 40 | $241,669 |
Melissa Mcdonald Chief Operating Officer | Officer | 40 | $236,483 |
Scott Richter Chief Credit Officer | Officer | 40 | $167,068 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
United Fund Advisors Nmtc Advisory Services | 9/29/21 | $843,750 |
Novogradac & Company Llp Audit Fees | 9/29/21 | $277,500 |
Veracruz Advisory Llc Community Leadership Services | 9/29/21 | $185,336 |
Rsm Us Llp Audit Fees | 9/29/21 | $123,888 |
Bergman & Allderdice Legal Fees | 9/29/21 | $114,351 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $100,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,148,377 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,248,377 |
| Total Program Service Revenue | $15,288,769 |
| Investment income | $185,848 |
| 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 | $23,229,153 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $643,900 |
| Grants and other assistance to domestic individuals. | $25,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,740,581 |
| Compensation of current officers, directors, key employees. | $556,609 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,654,976 |
| Pension plan accruals and contributions | $195,594 |
| Other employee benefits | $644,179 |
| Payroll taxes | $303,621 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $62,190 |
| Fees for services: Accounting | $115,521 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,200,540 |
| Advertising and promotion | $261,662 |
| Office expenses | $141,746 |
| Information technology | $117,736 |
| Royalties | $0 |
| Occupancy | $135,509 |
| Travel | $335,579 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,876 |
| Interest | $5,870,350 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $77,635 |
| Insurance | $99,826 |
| All other expenses | $0 |
| Total functional expenses | $16,701,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,295,787 |
| Savings and temporary cash investments | $40,062,877 |
| Pledges and grants receivable | $1,096,257 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $226,917,528 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,258 |
| Net Land, buildings, and equipment | $1,894,321 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $739,868 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,317,280 |
| Total assets | $287,338,176 |
| Accounts payable and accrued expenses | $2,881,004 |
| 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 | $75,361,763 |
| Unsecured mortgages and notes payable | $117,198,970 |
| Other liabilities | $13,199,475 |
| Total liabilities | $208,641,212 |
| Net assets without donor restrictions | $51,924,924 |
| Net assets with donor restrictions | $26,772,040 |
| 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 | $287,338,176 |
Grants Awarded
Over the last fiscal year, Raza Development Fund Inc has awarded $583,500 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: COMMUNITY SUPPORT | $60,000 |
Bronx, NY PURPOSE: COMMUNITY SUPPORT | $50,000 |
San Juan, TX PURPOSE: COMMUNITY DEVELOPMENT | $50,000 |
Phoenix, AZ PURPOSE: COMMUNITY DEVELOPMENT | $50,000 |
Phoenix, AZ PURPOSE: COMMUNITY DEVELOPMENT | $45,000 |
Jackson Heights, NY PURPOSE: COMMUNITY SUPPORT | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Raza Development Fund Inc has recieved totaling $904,000.
| Awarding Organization | Amount |
|---|---|
W K Kellogg Foundation Battle Creek, MI PURPOSE: INCREASE IMPACTS IN LATINX-LED ORGANIZATIONS AND COMMUNITIES BY SUPPORTING THE CAPACITY FOR TECHNICAL ASSISTANCE AND WORKING CAPITAL DEPLOYMENT TO AFFILIATE ORGANIZATIONS | $590,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $100,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $100,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $100,000 |
Comerica Charitable Foundation Detroit, MI PURPOSE: COVID-19 HOPE FUND | $14,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California Manufacturing Technology Consulting Torrance, CA | $11,048,363 | $31,611,156 |
Raza Development Fund Inc Phoenix, AZ | $287,338,176 | $23,229,153 |
Business Finance Capital Los Angeles, CA | $7,749,774 | $11,735,552 |
Los Angeles Cleantech Incubator Los Angeles, CA | $4,675,991 | $8,340,208 |
Dreamspring Albuquerque, NM | $203,163,761 | $25,298,598 |
Economic Development Corporation Of Los Angeles Los Angeles, CA | $29,436,314 | $9,374,870 |
Main Street Launch Oakland, CA | $33,776,792 | $12,838,427 |
Inquiring Systems Inc Santa Rosa, CA | $7,524,299 | $8,764,937 |
Mce Social Capital San Francisco, CA | $62,791,597 | $6,149,930 |
Renaissance Entrepreneurship Center San Francisco, CA | $5,879,123 | $7,123,665 |
Pacific Community Ventures Oakland, CA | $20,029,825 | $8,516,576 |
Pacific Coast Regional Urban Small Business Development Corporation Los Angeles, CA | $22,353,411 | $11,894,942 |