Inclusiv Inc
- Assets
- $82.0m
- Revenue
- $11.7m
- Investments
- $564.3k
- Employees
- 39
- Location
- New York, NY
- Founding
- 11/1977
- Data as of
- 12/2021
- EIN
- 11-2421972
Organization Overview
Inclusiv Inc, operating under the name Inclusiv, is located in New York, NY. The organization was established in 1977. According to its NTEE Classification (W02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Inclusiv employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inclusiv 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 12/2021, Inclusiv generated $11.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $7.8m during the year ending 12/2021. While expenses have increased by 10.2% per year over the past 7 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 2014, Inclusiv has awarded 150 individual grants totaling $3,265,750. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE NATIONAL FEDERATION OF COMMUNITY DEVELOPMENT CREDIT UNIONS IS TO HELP LOW- AND MODERATE-INCOME PEOPLE AND COMMUNITIES ACHIEVE FINANCIAL INDEPENDENCE THROUGH CREDIT UNIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCLUSIV CAPITAL PROVIDES CAPITAL TO MEMBER CDCUS THROUGH UNINSURED SUBORDINATED DEBT LOANS AND INSURED NON-MEMBER DEPOSITS.
INCLUSIV/BLACK COMMUNITIES, INCLUDING THE RESILIENCE FUND. INCLUSIV/BLACK COMMUNITIES IS A PROGRAM FOR SMALL AND FAITH-BASED CREDIT UNIONS SERVING PREDOMINANTLY AFRICAN AMERICAN COMMUNITIES. THE RESILIENCE FUND IS A GRANT FUND TO SUPPORT CREDIT UNIONS SERVING COMMUNITIES OF COLOR DISPROPORTIONATELY AFFECTED BY THE CORONAVIRUS PANDEMIC. THROUGH THE RESILIENCE FUND, INCLUSIV DISTRIBUTES GRANT SUPPORT TO MINORITY DEPOSITORY INSTITUTIONS (MDIS) UNDER $100 MILLION IN ASSETS.
CDCU MORTGAGE CENTER LLC IS A WHOLLY OWNED SUBSIDIARY ESTABLISHED TO PURCHASE AFFORDABLE MORTGAGES FROM MEMBER CREDIT UNIONS, ENABLING THEM TO RECYCLE THEIR CAPITAL, MANAGE THEIR BALANCE SHEETS, AND MAKE NEW LOANS.
ACTIVITIES RELATED TO FURTHERING THE ORGANIZATION'S MISSION, INCLUDING FINANCIAL COUNSELING AND THE ADVANCEMENT OF FINANCIAL INCLUSION FOR MULTIPLE UNDERSERVED POPULATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathleen Mahon President/ceo | Officer | 40 | $257,030 |
Eben Sheaffer Cfo/cio | Officer | 40 | $212,457 |
Pablo Defilippo SVP Network Development | 40 | $147,108 | |
Pamela Owens Vice President | Officer | 40 | $144,228 |
Ann D Solomon Sr V.P. Strategic Initiatives | 40 | $126,032 | |
Neda Arabshahi Vp, Resiliency & Clean Energy | 40 | $121,882 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tmr & Associates Consulting | 12/30/21 | $169,213 |
Mckinsey & Company Consulting | 12/30/21 | $200,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,742,465 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,504,922 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,247,387 |
| Total Program Service Revenue | $3,427,652 |
| Investment income | $25 |
| 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 | $11,675,064 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $864,700 |
| 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. | $677,455 |
| Compensation of current officers, directors, key employees. | $262,700 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,377,434 |
| Pension plan accruals and contributions | $85,783 |
| Other employee benefits | $350,623 |
| Payroll taxes | $227,812 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,950 |
| Fees for services: Accounting | $51,183 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,298,651 |
| Advertising and promotion | $17,963 |
| Office expenses | $191,469 |
| Information technology | $359,480 |
| Royalties | $0 |
| Occupancy | $256,491 |
| Travel | $6,081 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,656 |
| Interest | $795,248 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $113,144 |
| Insurance | $20,542 |
| All other expenses | $0 |
| Total functional expenses | $7,829,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,681,938 |
| Savings and temporary cash investments | $13,823,998 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $678,035 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $63,831,660 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,329 |
| Net Land, buildings, and equipment | $319,770 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $564,328 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,040,754 |
| Total assets | $81,962,812 |
| Accounts payable and accrued expenses | $511,879 |
| Grants payable | $0 |
| Deferred revenue | $91,175 |
| 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 | $55,304,563 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $291,645 |
| Total liabilities | $56,199,262 |
| Net assets without donor restrictions | $21,444,881 |
| Net assets with donor restrictions | $4,318,669 |
| 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 | $81,962,812 |
Grants Awarded
Over the last fiscal year, Inclusiv Inc has awarded $785,700 in support to 40 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: CREDIT UNION IMPACT CAPACITY BUILDING | $300,000 |
COOPERATIVE CENTER FCU PURPOSE: CREDIT UNION IMPACT CAPACITY BUILDING | $51,900 |
NORTHEAST COMMUNITY FEDERAL CREDIT UNION PURPOSE: CREDIT UNION IMPACT CAPACITY BUILDING | $51,900 |
SELF-HELP FEDERAL CREDIT UNION PURPOSE: CREDIT UNION IMPACT CAPACITY BUILDING | $51,900 |
UNION BAPTIST CHURCH FEDERAL CREDIT UNION PURPOSE: CREDIT UNION IMPACT CAPACITY BUILDING | $22,500 |
FAITH BASED CREDIT UNION ALLIANCE PURPOSE: CREDIT UNION IMPACT CAPACITY BUILDING | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Inclusiv Inc has recieved totaling $1,830,000.
| Awarding Organization | Amount |
|---|---|
William & Flora Hewlett Foundation Menlo Park, CA PURPOSE: FOR THE CENTER FOR RESILIENCY AND CLEAN ENERGY | $465,000 |
William & Flora Hewlett Foundation Menlo Park, CA PURPOSE: FOR THE CENTER FOR RESILIENCY AND CLEAN ENERGY | $465,000 |
Prudential Foundation Inc Newark, NJ PURPOSE: ADVANCING FINANCIAL INCLUSION AND WELL-BEING THROUGH INCLUSIV TECHNOLOGY | $300,000 |
Target Foundation Minneapolis, MN PURPOSE: FINANCIAL SECURITY | $200,000 |
Prudential Foundation Inc Newark, NJ PURPOSE: THE NEXT STAGE OF INCLUSIV TECHNOLOGY INNOVATION | $200,000 |
Tides Foundation San Francisco, CA PURPOSE: EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southwestern Pennsylvania Corporation Pittsburgh, PA | $9,003,421 | $11,756,960 |
Inclusiv Inc New York, NY | $81,962,812 | $11,675,064 |
Manchester-Bidwell Corporation Pittsburgh, PA | $9,875,699 | $3,409,404 |
Massachusetts Higher Education Amherst, MA | $6,866,706 | $3,443,422 |
Participatory Budgeting Project Inc Brooklyn, NY | $951,434 | $1,467,731 |
Washburn Park Inc Worcester, MA | $38,431,924 | $486,220 |
North Hudson Regional Council Of Mayors Union City, NJ | $742,976 | $1,374,598 |
Public Policy Lab Brooklyn, NY | $521,209 | $1,493,150 |
New York Credit & Financial Management Assn Inc Scotch Plains, NJ | $549,776 | $357,349 |
Nopi - Nonprofit Incubator Norwood, MA | $40,106 | $0 |
Merrimack Valley Transportation Management Association Marblehead, MA | $114,028 | $83,250 |
Class Achieving Change Together Class Act Inc Manchester, MA | $173,445 | $0 |