Accompany Capital Inc
- Assets
- $18.1m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 17
- Location
- New York, NY
- Founding
- 08/2009
- Data as of
- 09/2023
- EIN
- 81-0584343
Organization Overview
Accompany Capital Inc is located in New York, NY. The organization was established in 2009. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. As of 09/2023, Accompany Capital Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Accompany Capital 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 09/2023, Accompany Capital Inc generated $3.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $3.6m during the year ending 09/2023. While expenses have increased by 10.1% 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.
Since 2021, Accompany Capital Inc has awarded 18 individual grants totaling $1,749,775. 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
CREATE A PATHWAY TO PROSPERITY FOR NEW YORK AREA IMMIGRANT, REFUGEE, AND UNDERSERVED ENTREPRENEURS, THROUGH ACCESS TO AFFORDABLE CREDIT, FINANCIAL EDUCATION, TRAINING IN TECHNOLOGY, AND BEST BUSINESSES PRACTICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCOMPANY CAPITAL ASSISTED MICRO AND SMALL BUSINESS OWNERS TO ACCESS 211 LOANS FOR A TOTAL OF $9,251,500 IN FY23.
A TOTAL OF 5,527 HOURS OF TRAINING AND COUNSELING WAS PROVIDED TO 629 CLIENTS IN ADDITION TO 44 WORKSHOPS FOR A TOTAL OF 82HRS PRESENTED TO 2,172 ATTENDEES, IN FY 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kwame K Marfo Chair | OfficerTrustee | 2 | $0 |
Tim Zhakselekov Treasurer | OfficerTrustee | 2 | $0 |
Michelle Danso Secretary | OfficerTrustee | 1 | $0 |
Kate Hao Director | Trustee | 1 | $0 |
Peter Brest Director | Trustee | 1 | $0 |
Dave Sidhu Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,505,577 |
| All other contributions, gifts, grants, and similar amounts not included above | $361,575 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,867,152 |
| Total Program Service Revenue | $250,964 |
| Investment income | $555,229 |
| 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 | $3,673,345 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $240,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,932 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $383,098 |
| Compensation of current officers, directors, key employees. | $55,132 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,142,318 |
| Pension plan accruals and contributions | $94,819 |
| Other employee benefits | $146,670 |
| Payroll taxes | $112,669 |
| Fees for services: Management | $146,301 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $505,921 |
| Advertising and promotion | $0 |
| Office expenses | $76,514 |
| Information technology | $16,142 |
| Royalties | $0 |
| Occupancy | $191,097 |
| Travel | $74,428 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $109,181 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,354 |
| Insurance | $18,448 |
| All other expenses | $11,022 |
| Total functional expenses | $3,587,047 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,178,396 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,115,178 |
| Accounts receivable, net | $350,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,050,385 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $65,716 |
| Net Land, buildings, and equipment | $5,134 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $339,095 |
| Total assets | $18,103,904 |
| Accounts payable and accrued expenses | $310,451 |
| Grants payable | $0 |
| Deferred revenue | $306,060 |
| 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 | $2,751,149 |
| Unsecured mortgages and notes payable | $3,760,167 |
| Other liabilities | $548,677 |
| Total liabilities | $7,676,504 |
| Net assets without donor restrictions | $10,054,105 |
| Net assets with donor restrictions | $373,295 |
| 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 | $18,103,904 |
Grants Awarded
Over the last fiscal year, Accompany Capital Inc has awarded $1,749,775 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
ASTORIA BIER AND CHEESE INC PURPOSE: Queens Small Business Cash Grants | $20,000 |
DHAKA INC PURPOSE: Queens Small Business Cash Grants | $20,000 |
CAFE BENCH INC PURPOSE: Queens Small Business Cash Grants | $20,000 |
FRIENDS CORNER CAFE INC PURPOSE: Queens Small Business Cash Grants | $20,000 |
LALIGURAS RESTAURANT INC PURPOSE: Queens Small Business Cash Grants | $20,000 |
MOMO CRAVE LLC PURPOSE: Queens Small Business Cash Grants | $20,000 |