Ida And Asset Building Collaborative Of North Carolina
- Assets
- $256.6k
- Revenue
- $181.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Raleigh, NC
- Founding
- 05/2003
- Data as of
- 12/2023
- EIN
- 04-3728351
Organization Overview
Ida And Asset Building Collaborative Of North Carolina is located in Raleigh, NC. The organization was established in 2003. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ida And Asset Building Collaborative Of North Carolina 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, Ida And Asset Building Collaborative Of North Carolina generated $181.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $178.3k during the year ending 12/2023. While expenses have increased by 1.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COLLABORATIVE'S MISSION IS TO CLOSE THE WEALTH GAP IN NORTH CAROLINA. WE ADVOCATE ON BEHALF OF FINANCIALLY VULNERABLE COMMUNITIES BY COLLABORATING WITH FINANCIAL INSTITUTIONS, NONPROFITS, AND LOCAL GOVERNMENT AGENCIES ACROSS THE STATE TO EDUCATE PEOPLE ON BUILDING WEALTH. WE BELIEVE EVERYONE REGARDLESS OF THEIR SKIN COLOR, PHYSICAL ABILITIES, OR FINANCIAL CIRCUMSTANCES DESERVES AN EQUAL OPPORTUNITY TO BUILD WEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PATHWAYS TO PROSPERITY CONFERENCE:EVERY OTHER YEAR, THE PATHWAYS TO PROSPERITY CONFERENCE - IN PARTNERSHIP WITH NORTH CAROLINA A & T STATE UNIVERSITY COOPERATIVE EXTENSION AND THE UNIVERSITY OF NORTH CAROLINA CENTER - BRINGS TOGETHER PROFESSIONALS WORKING TO ENSURE THAT EVERYONE IN OUR STATE HAS A CLEAR PATH TO FINANCIAL STABILITY, WEALTH, AND PROSPERITY. AS THE ONLY EVENT OF ITS KIND IN NORTH CAROLINA TO ADDRESS THE ENTIRE RANGE OF MOMENTS THAT AFFECT AN INDIVIDUAL'S OR FAMILY'S FINANCIAL WELL-BEING, THE CONFERENCE OFFERS SESSIONS ABOUT CONSUMER FINANCE ISSUES, EXPANDING ACCESS TO SAFE AND AFFORDABLE BANKING, HOMEOWNERSHIP, ACCESS TO BROADBAND, STRATEGIES TO CLOSE THE RACIAL WEALTH DIVIDE, THE INTEGRATION OF FINANCIAL CAPABILITY SERVICES AND MORE. THE CONFERENCE REACHED 75 FINANCIAL EMPOWERMENT PROFESSIONALS.
PROSPERITY FOR ALL - AMERICORPS VISTA:EACH YEAR THE COLLABORATIVE PLACES FULL-TIME, PAID, VOLUNTEERS AT NONPROFITS ACROSS NORTH CAROLINA TO BUILD CAPACITY WITHIN THEIR PROGRAMS FOR A YEAR, ALSO KNOWN AS OUR AMERICORPS VISTA, IS IN THE RECRUITING AND PLACEMENT PHASE. VISTAS THAT SERVED IN 2023 VISTAS WERE VERY IMPACTFUL, LAUNCHING SEVERAL STATEWIDE INITIATIVES AND SURPASSING ALL OUTREACH GOALS. OVER THE YEAR, THE COLLABORATIVE PLACED 13 VISTAS IN COMMUNITIES ACROSS THE STATE.
BANK ON NORTH CAROLINA: BANK ON NORTH CAROLINA IS OUR STATEWIDE PROGRAM DESIGNED TO PROVIDE EVERYONE WITH ACCESS TO A SAFE AND AFFORDABLE BANK ACCOUNT. SINCE OUR LAUNCH, THE COLLABORATIVE HAS HOSTED EVENTS AND CONNECTED WITH 546 PEOPLE REGARDING BANK ON NC. BANK ON NC HAS 29 LOCAL PARTNER ORGANIZATIONS. OUR MOST RECENT CONVENINGS WERE IN PARTNERSHIP WITH THE NC COOPERATIVE EXTENSION AND THE NC BANKERS' ASSOCIATION. THROUGH THIS INITIATIVE, THE COLLABORATIVE REACHED 117 INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kati Sessoms Board Chair | OfficerTrustee | 2 | $0 |
Latasha Best-Gaddy Treasurer | OfficerTrustee | 2 | $0 |
Catherine Jarboe Secretary | OfficerTrustee | 2 | $0 |
Tameka Reed Director | Trustee | 2 | $0 |
Bronwyn Lucas Director | Trustee | 2 | $0 |
Tiffany Gladney Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $154,534 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $179,534 |
| Total Program Service Revenue | $1,400 |
| Investment income | $197 |
| 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 | $181,131 |
| 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. | $102,018 |
| Compensation of current officers, directors, key employees. | $18,232 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $996 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,126 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,237 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,364 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,900 |
| 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 | $0 |
| Insurance | $4,731 |
| All other expenses | $0 |
| Total functional expenses | $178,253 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $235,355 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,841 |
| 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 | $865 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,537 |
| Total assets | $256,598 |
| Accounts payable and accrued expenses | $9,677 |
| 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 | $16,854 |
| Total liabilities | $26,531 |
| Net assets without donor restrictions | $200,850 |
| Net assets with donor restrictions | $29,217 |
| 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 | $256,598 |