Merritt Community Capital Corp
- Assets
- $31.7m
- Revenue
- $10.6m
- Investments
- $0.0
- Employees
- 17
- Location
- Oakland, CA
- Founding
- 12/1996
- Data as of
- 12/2022
- EIN
- 94-3099401
Organization Overview
Merritt Community Capital Corp is located in Oakland, CA. The organization was established in 1996. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Merritt Community Capital Corp employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Merritt Community Capital Corp 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 12/2022, Merritt Community Capital Corp generated $10.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $5.4m during the year ending 12/2022. While expenses have increased by 5.2% 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 2015, Merritt Community Capital Corp has awarded 51 individual grants totaling $1,104,108. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT AND RAISE CAPITAL FOR THE DEVELOPMENT OF LOW TO MODERATE-INCOME HOUSING IN THE STATE OF CALIFORNIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION WAS FORMED TO ACT AS THE GENERAL PARTNER IN PARTNERSHIPS WHICH HAVE INVESTED IN LOCAL PARTNERSHIPS, WHICH BUILD OR REHABILITATE UNITS OF AFFORDABLE HOUSING UNDER THE PROVISIONS OF IRS SEC. 42. THE CORPORATION PROVIDES SUPPORTING SERVICES TO THESE PARTNERSHIPS ON AN ONGOING BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Williams Vice Chairperson | OfficerTrustee | 0.5 | $0 |
Cecile Chalifour Secretary | OfficerTrustee | 0.5 | $0 |
Ray Mendoza Director | Trustee | 0.5 | $0 |
Welton Jordan Director | Trustee | 0.5 | $0 |
Darnell Williams Director | Trustee | 0.5 | $0 |
Regina Celestin Williams Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bocarsly Emden Cowan Esmail & Arndt Legal Services | 12/30/22 | $237,500 |
Dauby O'connor & Zaleski Llc Audit & Tax Preparation & Consulting | 12/30/22 | $208,050 |
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 | $543,552 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $543,552 |
| Total Program Service Revenue | $9,961,782 |
| Investment income | $47,089 |
| 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 | $10,552,423 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $904,236 |
| 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 | $2,776,043 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $273,133 |
| Payroll taxes | $135,523 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $268,708 |
| Fees for services: Accounting | $280,433 |
| Fees for services: Lobbying | $25,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,387 |
| Advertising and promotion | $66,917 |
| Office expenses | $60,101 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $308,218 |
| Travel | $88,303 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,718 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,104 |
| All other expenses | $0 |
| Total functional expenses | $5,433,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,732,451 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $542,143 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $24,460,540 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,035 |
| Total assets | $31,748,169 |
| Accounts payable and accrued expenses | $1,385 |
| 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 | $3,980,853 |
| Total liabilities | $3,982,238 |
| Net assets without donor restrictions | $27,765,931 |
| 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 | $31,748,169 |
Grants Awarded
Over the last fiscal year, Merritt Community Capital Corp has awarded $575,000 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
CALIFORNIA STATE UNIVERSITY LONG BEACH PURPOSE: SCHOLARSHIPS | $10,000 |
CALIFORNIA STATE UNIVERSITY EAST BAY FOUNDATION INC PURPOSE: SCHOLARSHIPS | $10,000 |
CALIFORNIA STATE UNIVERSITY SACRAMENTO PURPOSE: SCHOLARSHIPS | $20,000 |
CALIFORNIA STATE UNIVERSITY NORHTRIGDE FOUNDATION PURPOSE: SCHOLARSHIPS | $10,000 |
MIDWESTERN STATE UNIVERSITY FOUNDATION INC PURPOSE: SCHOLARSHIPS | $10,000 |
SAN FRANCISCO STATE UNIVERSITY FOUNDATION PURPOSE: SCHOLARSHIPS | $10,000 |