Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for instructions and the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
|
Total |
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Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | 384,993 | 1,945,762 | 6,072,834 | 3,998,735 | 12,402,324 | |
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf .... | ||||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 4 | Total. Add lines 1 through 3 | 384,993 | 1,945,762 | 6,072,834 | 3,998,735 | 12,402,324 | |
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) .. | 10,983,316 | |||||
| 6 | Public support. Subtract line 5 from line 4. | 1,419,008 | |||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | 384,993 | 1,945,762 | 6,072,834 | 3,998,735 | 12,402,324 | |
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | 1,302 | 17,400 | 18,702 | |||
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | ||||||
| 11 | Total support. Add lines 7 through 10 | 12,421,026 | |||||
Calendar year (or fiscal
year beginning in) ![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | ||||||
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | ||||||
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513 ..... | ||||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | ||||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge | ||||||
| 6 | Total. Add lines 1 through 5 | ||||||
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons | ||||||
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | ||||||
| c | Add lines 7a and 7b.. | ||||||
| 8 | Public support. (Subtract line 7c from line 6.) | ||||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | ||||||
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | ||||||
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | ||||||
| c | Add lines 10a and 10b. | ||||||
| 11 | Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on. | ||||||
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | ||||||
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | ||||||
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
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| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by 0.035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | 1 | |
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
2 | |
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | 3 | |
| 4 Amounts paid to acquire exempt-use assets | 4 | |
| 5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) | 5 | |
| 6 Other distributions (describe in Part VI). See instructions | 6 | |
| 7Total annual distributions. Add lines 1 through 6. | 7 | |
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
8 | |
| 9 Distributable amount for 2023 from Section C, line 6 | 9 | |
| 10 Line 8 amount divided by Line 9 amount | 10 | |
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2023 |
(iii) Distributable Amount for 2023 |
|
|---|---|---|---|---|
| 1 Distributable amount for 2023 from Section C, line 6 | ||||
|
2
Underdistributions, if any, for years prior to 2023 (reasonable cause required-- explain in Part VI).
See instructions. |
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| 3 Excess distributions carryover, if any, to 2023: | ||||
| a From 2018....... | ||||
| b From 2019....... | ||||
| c From 2020....... | ||||
| d From 2021....... | ||||
| e From 2022....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2023 distributable amount | ||||
|
i
Carryover from 2018 not applied (see instructions) |
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| j Remainder. Subtract lines 3g, 3h, and 3i from line 3f. | ||||
| 4Distributions for 2023 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2023 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from line 4. | ||||
|
5
Remaining underdistributions for years prior to 2023, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
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|
6
Remaining underdistributions for 2023. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
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7 Excess distributions carryover to 2024. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a Excess from 2019..... | ||||
| b Excess from 2020..... | ||||
| c Excess from 2021..... | ||||
| d Excess from 2022..... | ||||
| e Excess from 2023..... | ||||
| Facts And Circumstances Test |
|---|
| PURSUANT TO TREASURY REGULATION SECTION 1.170A-9(F)(3), THE ORGANIZATION RECEIVES A SUBSTANTIAL PART OF ITS SUPPORT DIRECTLY OR INDIRECTLY FROM THE GENERAL PUBLIC, AS WELL AS FROM ACTIVITIES RELATED TO EXEMPT FUNCTIONS AND IS ACTIVELY ENGAGED IN THE ATTRACTION OF PUBLIC SUPPORT. THE ORGANIZATION IS PUBLICLY SUPPORTED UNDER THE FACTS AND CIRCUMSTANCES TEST AS FOLLOWS:(I) TEN PERCENT-OF-SUPPORT LIMITATION: THE PERCENTAGE OF SUPPORT NORMALLY RECEIVED BY THE ORGANIZATION FROM CONTRIBUTIONS AND ACTIVITIES RELATED TO EXEMPT FUNCTIONS EQUALS AT LEAST 10 PERCENT.(II) ATTRACTION OF PUBLIC SUPPORT: THE ORGANIZATION IS ORGANIZED AND OPERATED TO CONTINUOUSLY ATTRACT NEW AND ADDITIONAL SOURCES OF SUPPORT. THE ORGANIZATION IS IN ITS SIXTH YEAR OF EXISTENCE, AND IS STILL DEVELOPING AND INCREASING ITS DONOR BASE, AND ANTICIPATES ITS DONOR BASE WILL BE MORE DIVERSIFIED IN FUTURE YEARS.(III) PERCENTAGE OF FINANCIAL SUPPORT: FOR THE YEAR ENDING DECEMBER 31, 2023, PUBLIC SUPPORT EQUALED 11.42%, WHICH SATISFIED THE TEN PERCENT REQUIREMENT.(IV) SOURCES OF SUPPORT: THE ORGANIZATION REGULARLY RECEIVES PUBLIC SUPPORT FROM A NUMBER OF SOURCES TO SUPPORT ITS CORE PROGRAM. THE ORGANIZATION HAS BEEN IN EXISTENCE SINCE 2018 AND HAS SERVED INDIVIDUALS AND FAMILIES BY PROVIDING ZERO-INTEREST MICROLOANS TO HELP KEEP RENTERS IN THEIR HOMES DURING TIMES OF FINANCIAL DISTRESS. THE ORGANIZATION HAS RECEIVED SOME LARGE START-UP FUNDING WHILE IT RAMPS-UP OPERATIONS FROM ONE ORGANIZATION WHO WORKS WITHIN THE RENTAL MARKET, WHICH IS LARGELY RESPONSIBLE FOR SKEWING THE PUBLIC SUPPORT PERCENTAGE LOWER. THE ORGANIZATION ANTICIPATES ITS DONOR BASE WILL BE MORE DIVERSIFIED IN FUTURE YEARS, WHICH WILL INCREASE ITS PUBLIC SUPPORT PERCENTAGE IN THE FUTURE.(V) REPRESENTATIVE GOVERNING BODY: THE ORGANIZATION HAS A BOARD OF DIRECTORS THAT IS CLOSELY ALIGNED WITH THE MISSION OF THE ORGANIZATION AND OFTEN SUPPORTS THE ORGANIZATION THROUGH CONTRIBUTIONS AND ENGAGEMENT IN ACTIVITIES RELATED TO EXEMPT FUNCTIONS. THE MEMBERS OF THE BOARD OF DIRECTORS HAVE SIGNIFICANT EXPERIENCE AND EXPERTISE IN THE PROGRAMS AND ACTIVITIES OF THE ORGANIZATION.(VI) AVAILABILITY OF PUBLIC SERVICES: THE ORGANIZATION CONTINUES TO OFFER A WIDE ARRAY OF SERVICES AND PHILANTHROPIC OPPORTUNITIES TO THE PUBLIC IN ALIGNMENT WITH ITS MISSION. THERE ARE NO FORESEEABLE PLANS TO CHANGE THE AVAILABILITY OF THE ORGANIZATION'S OFFERINGS TO THE PUBLIC, AND CONTINUED PUBLIC SUPPORT IS ANTICIPATED. |
| Return Reference | Explanation |
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| Return Reference | Explanation |
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| FORM 990, PART VI, SECTION A, LINE 2 | BOARD MEMBERS WEMIMO ABBEY AND SAMIR GOEL HAVE A BUSINESS RELATIONSHIP. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS TWO MEMBERS: WEMIMO ABBEY AND SAMIR GOEL. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS HAVE THE EXCLUSIVE RIGHT TO APPOINT, ADD, REPLACE, REMOVE, SUSPEND, OR DISCIPLINE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE ORGANIZATION CURRENTLY HAS NO COMMITTEES TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY AN INDEPENDENT TAX ACCOUNTANT IN CONJUNCTION WITH THE ORGANIZATION'S MANAGEMENT. A DRAFT FORM 990 IS THEN REVIEWED BY EXECUTIVE DIRECTOR; ADJUSTMENTS ARE MADE, AS NECESSARY. A COMPLETE COPY OF THE FORM 990 IS THEN MADE AVAILABLE TO ALL MEMBERS OF THE GOVERNING BODY PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH OFFICER, DIRECTOR, AND KEY EMPLOYEE SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT EACH PERSON: (I) HAS RECEIVED A COPY OF THE POLICY ON CONFLICTS OF INTEREST; (II) HAS READ AND UNDERSTANDS THE POLICY; (III) AGREES TO COMPLY WITH THE POLICY; AND (IV) UNDERSTANDS THE CORPORATION IS SUBJECT TO CERTAIN FEDERAL AND STATE LAWS GOVERNING TRANSACTIONS BETWEEN THE CORPORATION AND CERTAIN INDIVIDUALS AND ENTITIES AND THAT THE CORPORATION MUST ENGAGE EXCLUSIVELY IN ACTIVITIES THAT ACCOMPLISH A CHARITABLE PURPOSE. ADDITIONALLY, OFFICERS, DIRECTORS, AND KEY EMPLOYEES HAVE AN ONGOING DUTY TO DISCLOSE POTENTIAL CONFLICTS BY PROVIDING WRITTEN NOTICE WITHIN TWO DAYS IN WHICH SUCH PERSON BECOMES AWARE OF POTENTIAL CONFLICTS OF INTEREST. PRIOR TO THE CORPORATION ENTERING THE TRANSACTION FOR WHICH A WRITTEN NOTICE HAS BEEN DELIVERED, THE CHAIRPERSON OF THE BOARD SHALL CALL A SPECIAL MEETING OF THE BOARD OF DIRECTORS. AT SUCH MEETING, THE CHAIRPERSON OF THE BOARD SHALL PROVIDE EACH DIRECTOR WITH A COPY OF THE WRITTEN NOTICE. THE CONFLICTED INDIVIDUAL MAY MAKE A PRESENTATION AT SUCH SPECIAL MEETING, BUT AFTER SUCH PRESENTATION, THE CONFLICTED PERSON SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION. THE CORPORATION SHALL EXERCISE DUE DILIGENCE IN DETERMINING WHETHER TO PROCEED WITH THE TRANSACTION. IN MAKING SUCH DETERMINATION, THE BOARD OF DIRECTORS SHALL DETERMINE WHETHER THE CORPORATION CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE UNDER CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THE BOARD OF DIRECTORS SHALL DETERMINE, BY A MAJORITY VOTE (NOT INCLUDING THE VOTE OF ANY DIRECTOR WHO MAY BE A RELATED PERSON), WHETHER THE TRANSACTION IS IN THE CORPORATION'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE CORPORATION. THE BOARD OF DIRECTORS SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION. |
| FORM 990, PART VI, SECTION B, LINE 15A | TO DETERMINE COMPENSATION FOR THE EXECUTIVE DIRECTOR, INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS CONDUCTED AN ONLINE REVIEW OF EXECUTIVE DIRECTOR COMPENSATION PACKAGES FOR SIMILARLY SIZED NON-PROFITS IN SIMILARLY SITUATED GEOGRAPHIC REGIONS. THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT WERE CONTEMPORANEOUSLY DOCUMENTED WITHIN THE BOARD MEETING MINUTES AT WHICH THIS WAS DISCUSSED. THIS PROCESS WAS LAST COMPLETED IN 2023. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | MICROLOAN ORIGINATION FEES: PROGRAM SERVICE EXPENSES 968,705. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 968,705. MICROLOAN SERVICING FEES: PROGRAM SERVICE EXPENSES 521,605. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 521,605. MICROLOAN TRANSACTION FEES: PROGRAM SERVICE EXPENSES 14,953. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,953. |
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