Transform Capital
- Assets
- $1.6m
- Revenue
- $409.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Libertyville, IL
- Founding
- Data as of
- 12/2023
- EIN
- 85-3613051
Organization Overview
Transform Capital is located in Libertyville, IL. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Transform Capital 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, Transform Capital generated $409.1k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $29.5k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TRANSFORM CAPITAL IS A LENDING PLATFORM WHICH RAISES TAX-DEDUCTIBLE FUNDING AND PLACES THAT FUNDING INTO MARKET-RATE OR BELOW MARKET-RATE MORTGAGE AND BUSINESS LOANS FOR DESERVING FAMILIES IN DIS-INVESTED LOCAL COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPITAL / TRANSFORM CAPITAL RAISES A TAX-DEDUCTABLE FUNDING BASE AND DEPLOYS THIS FUNDING INTO MARKET-RATE OR BELOW MARKET-RATE MORTGAGE AND BUSINESS LOANS FOR DESERVING FAMILIES IN DIS-INVESTED LOCAL ILLINOIS COMMUNITIES. 100% OF OUR CLIENTS ARE SOURCED ON REFERRAL FROM EXISTING ORGANIZATIONS ALREADY LONG SERVING THE COMMUNITY. OUR INITIAL COMMUNITY FOCUS IS NORTH CHICAGO, ILLINOIS. WE LIMIT OPERATING COSTS AT EVERY TURN, SO THAT WE CAN RECYCLE CAPITAL FOR ANOTHER CLIENT. AS OUR CLIENTS PAY BACK LOANS, THEY BECOME ON INTEGRAL PART OF "PAYING IT FORWARD" TO MAKE OWNERSHIP POSSIBLE FOR ANOTHER NEIGHBOR. WE ARE ENGAGING IN CONVERSATION WITH OTHER COMMUNITIES ACROSS THE NATION TO EXTEND THE REACH OF OUR MISSION APPROACH.
CATALYST / IN ADDITION TO CAPITAL, WE PROVIDE CATALYST FOR THE ENTIRE JOURNEY OF ASSET OWNERSHIP-SEEKING TO IGNITE GENERATIONAL ADVANTAGE FOR DESERVING FAMILIES. LENDING IS SIMPLY A REASON TO BE IN RELATIONSHIP, AND WE JOURNEY WITH CLIENTS FOR DECADES - WELL BEYOND ANY LOAN "TRANSACTION". WE ACTIVATE THE TALENTS OF OUR GROWING MOVEMENT TO ENCOURAGE THE DREAMS OF OUR CLIENT FAMILIES. THIS ENCOURAGEMENT CAN TAKE MANY FORMS, INCLUDING HELPING TO OPEN (OR EXPAND) A SMALL BUSINESS, OR REFERRING CLIENTS TO OTHER ORGANIZATIONS OR INDIVIDUALS FOR RESOURCE, COUNSELING, OR COACHING. WE DO NOT BUILD NEW PROGRAMS, BUT RATHER LEVERAGE A VAST NETWORK OF INDIVIDUALS AND OTHER ORGANIZATIONS TO WALK ALONGSIDE OUR CLIENTS. WE ALSO FREQUENTLY ENGAGE WITH OTHER PARTNERS IN EVALUATING BROADER ECONOMIC DEVELOPMENT AND OTHER PROJECTS WHICH CAN ENHANCE THE QUALITY OF LIFE IN OUR LOCAL COMMUNITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Chassman Chair | OfficerTrustee | 5 | $0 |
Frederick Tolbert Vice Chair | OfficerTrustee | 5 | $0 |
Stephen Kawasaki Secretary | OfficerTrustee | 5 | $0 |
Andrea Mccrory Director | Trustee | 5 | $4,400 |
Paul Hawkinson Treasurer And Executive Di | Officer | 5 | $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 | $348,309 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $348,309 |
| Total Program Service Revenue | $58,548 |
| Investment income | $1,911 |
| 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 | $409,135 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,413 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,550 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,142 |
| Insurance | $1,400 |
| All other expenses | $1,490 |
| Total functional expenses | $29,541 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,580 |
| Savings and temporary cash investments | $524,223 |
| Pledges and grants receivable | $2,645 |
| Accounts receivable, net | $2,992 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $994,197 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $650 |
| Net Land, buildings, and equipment | $570 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,566,857 |
| Accounts payable and accrued expenses | $0 |
| 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 | $475,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,887 |
| Total liabilities | $495,887 |
| Net assets without donor restrictions | $1,070,970 |
| Net assets with donor restrictions | $0 |
| 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 | $1,566,857 |