Peoplefund
- Assets
- $75.3m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 76
- Location
- Austin, TX
- Founding
- 09/1997
- Data as of
- 12/2023
- 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 12/2023, Peoplefund employed 76 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 12/2023, Peoplefund generated $11.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $11.2m during the year ending 12/2023. While expenses have increased by 14.8% per year over the past 9 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 2021, Peoplefund has awarded 11 individual grants totaling $1,247,500. 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
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) NONPROFIT 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 |
|---|---|---|---|
Luther Branham Chair | OfficerTrustee | 1 | $0 |
Yolanda Davila Chair (thru 4/17/23) | OfficerTrustee | 1 | $0 |
Nina Nelms Vice Chair | OfficerTrustee | 1 | $0 |
Brian Hall Vice Chair (thru 4/17/23) | OfficerTrustee | 1 | $0 |
Anna Sanchez Secretary | OfficerTrustee | 1 | $0 |
Beth Lipson Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bairesdev Llc Software Development | 12/30/23 | $369,536 |
Allandale Business 504 Business Development | 12/30/23 | $118,915 |
Ab Growth Marketing Marketing Services | 12/30/23 | $126,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,111,493 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,712,022 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,823,515 |
| Total Program Service Revenue | $5,902,605 |
| Investment income | $486,374 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $72,789 |
| Net Gain/Loss on Asset Sales | -$108,988 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,176,295 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $479,496 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $508,304 |
| Compensation of current officers, directors, key employees. | $328,025 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,287,155 |
| Pension plan accruals and contributions | $142,548 |
| Other employee benefits | $447,682 |
| Payroll taxes | $349,164 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $92,901 |
| Fees for services: Accounting | $115,988 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,772 |
| Fees for services: Other | $558,850 |
| Advertising and promotion | $133,538 |
| Office expenses | $171,336 |
| Information technology | $363,334 |
| Royalties | $0 |
| Occupancy | $271,145 |
| Travel | $102,941 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,087 |
| Interest | $1,040,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $324,164 |
| Insurance | $87,243 |
| All other expenses | $0 |
| Total functional expenses | $11,205,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,667,774 |
| Savings and temporary cash investments | $1,446,098 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,413,507 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,359,912 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $175,597 |
| Net Land, buildings, and equipment | $3,703,777 |
| Investments—publicly traded securities | $4,498,843 |
| Investments—other securities | $0 |
| Investments—program-related | $39,761,726 |
| Intangible assets | $0 |
| Other assets | $242,009 |
| Total assets | $75,269,243 |
| Accounts payable and accrued expenses | $1,147,890 |
| Grants payable | $0 |
| Deferred revenue | $562,639 |
| 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 | $5,711,288 |
| Unsecured mortgages and notes payable | $46,427,575 |
| Other liabilities | $235,265 |
| Total liabilities | $54,084,657 |
| Net assets without donor restrictions | $19,482,773 |
| Net assets with donor restrictions | $1,701,813 |
| 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 | $75,269,243 |
Grants Awarded
Over the last fiscal year, Peoplefund has awarded $968,675 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS TO CAPITAL FOR ENTREPRENEURS INC PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BUSINESSES | $300,000 |
ECONOMIC AND COMMUNITY DEVELOPMENT INSTITUTE INC PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BUSINESSES | $215,175 |
BLACK BUSINESS INVESTMENTS FUND INC PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BUSINESSES | $140,000 |
SEATTLE ECONOMIC DEVELOPMENT FUND DBA BUSINESS IMPACT NW PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BUSINESSES | $130,000 |
WISCONSIN WOMENS BUSINESS INITIATIVE PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BUSINESSES | $100,000 |
PURSUIT (NYBDC) PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BUSINESSES | $50,000 |