Alt Finance Corporation
- Assets
- $8.7m
- Revenue
- $9.0m
- Investments
- $0.0
- Employees
- 1
- Location
- Culver City, CA
- Founding
- Data as of
- 12/2021
- EIN
- 86-3974526
Organization Overview
Alt Finance Corporation is located in Culver City, CA. According to its NTEE Classification (W70) the organization is classified as: Leadership Development, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alt Finance Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INVESTING IN BLACK FUTURES BY PROVIDING A CLEAR PATHWAY TO STUDENTS AT PARTNERING HISTORICALLY BLACK COLLEGES AND UNIVERSITIES ("HBCU'S") INTO CAREERS IN THE ALTERNATIVE INVESTMENT INDUSTRY. PARTICIPATING HBCU STUDENTS WILL RECEIVE ACCESS TO EDUCATION, TRAINING, MENTORSHIP, SCHOLARSHIP FUNDING, INTERNSHIPS, AND FULL-TIME CAREER OPPORTUNITIES IN THE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INVESTING IN BLACK FUTURES PROGRAM HAS THREE PRIMARY COMPONENTS: (I) A TAILORED VIRTUAL INSTITUTE, (II) A MENTORED FELLOWSHIP PROGRAM, AND (III) A SCHOLARSHIP PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcus Shaw Executive Director | OfficerTrustee | 40 | $149,928 |
Jonathan B Simon Vice-President | OfficerTrustee | 1 | $0 |
Heather Berger Treasurer | OfficerTrustee | 1 | $0 |
Trey Pruitt President | OfficerTrustee | 1 | $0 |
Jerilyn Mcaniff Secretary | OfficerTrustee | 1 | $0 |
Michelle Armstrong Director | Trustee | 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 | $9,000,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,000,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $9,000,000 |
| 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. | $149,929 |
| Compensation of current officers, directors, key employees. | $29,986 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $127 |
| Other employee benefits | $0 |
| Payroll taxes | $8,216 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $414 |
| Advertising and promotion | $290,221 |
| Office expenses | $551 |
| Information technology | $3,180 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,340 |
| 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 | $0 |
| Insurance | $863 |
| All other expenses | $955 |
| Total functional expenses | $456,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,160,487 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,500,000 |
| Accounts receivable, net | $0 |
| 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 | $7,243 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,667,730 |
| Accounts payable and accrued expenses | $124,526 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $124,526 |
| Net assets without donor restrictions | $8,543,204 |
| 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 | $8,667,730 |
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