City First Enterprises Inc
- Assets
- $68.1m
- Revenue
- $21.5m
- Investments
- $24.1k
- Employees
- 24
- Location
- Washington, DC
- Founding
- 07/1998
- Data as of
- 12/2023
- EIN
- 52-2101165
Organization Overview
City First Enterprises Inc is located in Washington, DC. The organization was established in 1998. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, City First Enterprises Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. City First Enterprises 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, City First Enterprises Inc generated $21.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 33.6% each year . All expenses for the organization totaled $20.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, City First Enterprises Inc has awarded 1,307 individual grants totaling $79,122,295. 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
CITY FIRST ENTERPRISES IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION SPECIALIZING IN FLEXIBLE LENDING FOR AFFORDABLE HOUSING, COMMERCIAL REAL ESTATE, SMALL BUSINESSES, NON-PROFITS, CLEAN ENERGY, AND HOMEOWNERSHIP. WITH A MISSION TO CREATE EQUITABLE FINANCIAL SOLUTIONS TO SUPPORT PEOPLE AND COMMUNITIES IN ACHIEVING THEIR ECONOMIC ASPIRATIONS, WE ENVISION A FUTURE WHERE ALL PEOPLE AND COMMUNITIES TRANSFORM THEIR FUTURES THROUGH EQUITABLE ACCESS TO CAPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGED PORTFOLIO OF DEPLOYED FUNDS IN SUBORDINATED LOANS TO NONPROFITS, SMALL BUSINESSES, GREEN ENERGY, AND AFFORDABLE HOUSING ORGANIZATIONS WITHIN THE GREATER WASHINGTON METROPOLITAN COMMUNITY, AS WELL AS PROVIDE TECHNICAL ASSISTANCE AND CREDIT COUNSELING TO BORROWERS. CONTINUED CREATION OF PERMANENTLY AFFORDABLE HOUSING BY WHOLLY OWNED SUBSIDIARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Annie Donovan Director | Trustee | 1 | $0 |
Priya Jayachandran Director | Trustee | 1 | $0 |
Lori Chatman Director | Trustee | 1 | $0 |
Amber Kuchar-Bell Director | Trustee | 1 | $0 |
Shannon Scott Director | Trustee | 1 | $0 |
Brian Argrett Chairman Of The Board | Officer | 1 | $0 |
Financial Statements
| 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 | $18,832,191 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,832,191 |
| Total Program Service Revenue | $0 |
| Investment income | $2,307,418 |
| 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 | $21,464,449 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,874,962 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,263,470 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $203,990 |
| Payroll taxes | $167,944 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,235 |
| Fees for services: Accounting | $58,496 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $229,288 |
| Advertising and promotion | $0 |
| Office expenses | $284,130 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90,243 |
| Travel | $19,552 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,285 |
| Insurance | $0 |
| All other expenses | $11,498 |
| Total functional expenses | $20,222,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2 |
| Savings and temporary cash investments | $21,466,753 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $123,393 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $38,831,659 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $100,738 |
| Net Land, buildings, and equipment | $79,967 |
| Investments—publicly traded securities | $5,620,619 |
| Investments—other securities | $24,087 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,859,307 |
| Total assets | $68,106,525 |
| Accounts payable and accrued expenses | $309,799 |
| Grants payable | $0 |
| Deferred revenue | $12,868,297 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $17,051 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $27,605,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $217,087 |
| Total liabilities | $41,017,234 |
| Net assets without donor restrictions | $26,850,133 |
| Net assets with donor restrictions | $239,158 |
| 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 | $68,106,525 |
Grants Awarded
Over the last fiscal year, City First Enterprises Inc has awarded $14,780,654 in support to 343 organizations.
| Grant Recipient | Amount |
|---|---|
11ELEVEN GALLERY LLC PURPOSE: COVID-19 SMALL BUSINESS RELIEF | $18,400 |
12TH STREET PIZZA INC PURPOSE: COVID-19 SMALL BUSINESS RELIEF | $18,400 |
14L JJ SANDWICH COMPANY PURPOSE: COVID-19 SMALL BUSINESS RELIEF | $13,130 |
1633 WISC LLC PURPOSE: SUPPORT FOR EQUITY IMPACT ENTERPRISES | $374,875 |
1736 RHODE ISLAND AVE LLC PURPOSE: HOUSING PROVIDER RENTAL ASSISTANCE | $10,864 |
2001 13TH STREET LLC PURPOSE: COVID-19 SMALL BUSINESS RELIEF | $18,400 |