Peoplefund
- Assets
- $66.1m
- Revenue
- $14.5m
- Investments
- $0.0
- Employees
- 64
- Location
- Austin, TX
- Founding
- 09/1997
- Data as of
- 12/2021
- EIN
- 74-2814572
Organization Overview
Peoplefund is located in Austin, TX. The organization was established in 1997. 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, Peoplefund employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peoplefund 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, Peoplefund generated $14.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.9% each year . All expenses for the organization totaled $7.5m during the year ending 12/2021. While expenses have increased by 12.8% 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
CREATING ECONOMIC OPPORTUNITY AND FINANCIAL STABILITY FOR UNDERSERVED PEOPLE AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PEOPLEFUND IS A 501(C)(3) NON-PROFIT CORPORATION WHOSE MISSION IS TO PROMOTE ECONOMIC VITALITY AND OPPORTUNITY IN LOW-INCOME COMMUNITIES BY PROVIDING FINANCIAL SERVICES AND TECHNICAL ASSISTANCE THAT WILL: CREATE JOBS, PROVIDE NEEDED GOODS AND SERVICES, IMPROVE THE PHYSICAL ENVIRONMENT, PROMOTE DIVERSITY, ENTREPRENEURIAL SUCCESS, AND BUILD INDIVIDUAL AND COMMUNITY ASSETS. PEOPLEFUND PROVIDES FINANCING AND COMPREHENSIVE TECHNICAL ASSISTANCE SERVICES TO BUSINESSES, COMMUNITY ORGANIZATIONS, AND MICROENTERPRISES IN LOWER-INCOME COMMUNITIES THROUGHOUT TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gustavo Lasala President And CEO | Officer | 40 | $230,150 |
Jemerell Rogers Director Of Lending | 40 | $124,776 | |
Julia Dunn CFO Through 08/2021 | Officer | 40 | $104,440 |
Brian A Hall Vice Chair | OfficerTrustee | 1 | $0 |
Donna C Normandin Secretary | OfficerTrustee | 1 | $0 |
Nina Nelms Treasurer Starting 7/2021 | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Baker Botts Llp Legal Services | 12/30/21 | $264,205 |
Ab Growth Marketing Marketing Services | 12/30/21 | $117,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,111,686 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,010,672 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,122,358 |
| Total Program Service Revenue | $8,020,721 |
| Investment income | $149,210 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $82,779 |
| Net Gain/Loss on Asset Sales | $160,768 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,535,836 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $316,825 |
| Grants and other assistance to domestic individuals. | $209,367 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $350,800 |
| Compensation of current officers, directors, key employees. | $73,216 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,875,491 |
| Pension plan accruals and contributions | $83,871 |
| Other employee benefits | $310,749 |
| Payroll taxes | $247,921 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $427,160 |
| Fees for services: Accounting | $58,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,333 |
| Fees for services: Other | $262,106 |
| Advertising and promotion | $183,252 |
| Office expenses | $231,235 |
| Information technology | $257,298 |
| Royalties | $0 |
| Occupancy | $89,257 |
| Travel | $26,045 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,026 |
| Interest | $699,076 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $154,889 |
| Insurance | $95,737 |
| All other expenses | $1,063 |
| Total functional expenses | $7,530,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,055,950 |
| Savings and temporary cash investments | $975,575 |
| Pledges and grants receivable | $1,595,360 |
| Accounts receivable, net | $353,641 |
| 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 | $26,796 |
| Net Land, buildings, and equipment | $2,881,731 |
| Investments—publicly traded securities | $5,628,673 |
| Investments—other securities | $0 |
| Investments—program-related | $37,589,264 |
| Intangible assets | $0 |
| Other assets | $1,383 |
| Total assets | $66,108,373 |
| Accounts payable and accrued expenses | $3,676,341 |
| Grants payable | $0 |
| Deferred revenue | $154,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $20,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,379,213 |
| Unsecured mortgages and notes payable | $31,236,289 |
| Other liabilities | $3,305 |
| Total liabilities | $45,469,148 |
| Net assets without donor restrictions | $18,434,717 |
| Net assets with donor restrictions | $2,204,508 |
| 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 | $66,108,373 |
Grants Awarded
Over the last fiscal year, Peoplefund has awarded $278,825 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Orlando, FL PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BSUINESSES | $160,000 |
Albany, NY PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BSUINESSES | $50,000 |
Seattle, WA PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BSUINESSES | $48,825 |
Nashville, TN PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BSUINESSES | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Peoplefund has recieved totaling $278,279.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $100,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $54,000 |
Regions Foundation Birmingham, AL PURPOSE: GENERAL SUPPORT | $50,000 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $44,000 |
Texas Womens Foundation Dallas, TX PURPOSE: PROGRAM: CAPITAL FOR WOMEN FUND | $25,000 |
Frost Bank San Antonio, TX PURPOSE: UNRESTRICTED GRANT FOR | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dreamspring Albuquerque, NM | $203,163,761 | $25,298,598 |
Peoplefund Austin, TX | $66,108,373 | $14,535,836 |
Houston Business Development Inc Houston, TX | $15,684,831 | $3,620,643 |
Dallas-Fort Worth Minority Supplier Development Council Inc Dallas, TX | $2,296,676 | $2,035,236 |
Community Certified Development Corporation Houston, TX | $1,043,060 | $1,562,471 |
Maestro Leadership Foundation San Antonio, TX | $111,028 | $560,727 |
Louisiana Minority Business Council Inc New Orleans, LA | $480,017 | $745,389 |
Feed The Soul Foundation Houston, TX | $1,697,498 | $2,202,752 |
Ventana Fund Albuquerque, NM | $15,372,019 | $578,725 |
South Central Texas Regional Certification Agency San Antonio, TX | $105,207 | $402,040 |
Small Business Capital Corporation Tulsa, OK | $360,944 | $280,630 |
Cohabitat Foundation Shreveport, LA | $338,988 | $238,718 |