Altcap
- Assets
- $30.3m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 25
- Location
- Kansas City, MO
- Founding
- 01/2014
- Data as of
- 12/2021
- EIN
- 41-2183377
Organization Overview
Altcap is located in Kansas City, MO. The organization was established in 2014. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Altcap employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Altcap is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Altcap generated $6.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $2.7m during the year ending 12/2021. While expenses have increased by 21.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE DESCRIPTION ON PAGE 2, PART III, LINE 1
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, THE ORGANIZATION EXECUTED ON CONTINUING TO DEPLOY NEEDED FINANCING BY UNDERSERVED ENTREPRENEURS. THE ORGANIZATION CONTINUED TO INCREASE THE KC REGIONAL COVID-19 RELIEF LOAN FUND WHICH DEPLOYED NEARLY 4 MILLION IN EMERGENCY LOANS TO OVER 100 SMALL BUSINESSES THAT WERE FORCED TO CLOSE DUE TO NECESSARY PUBLIC HEALTH MEASURES. WITH ZERO INTEREST FOR THE FIRST 6-12 MONTHS AND FLEXIBLE COLLATERAL AND CREDIT REQUIREMENTS, THESE MICROLOANS WERE A CRITICAL LIFELINE FOR MANY STRUGGLING BUSINESSES. IN 2021, THE ORGANIZATION CONTINUED ACTING AS A CERTIFIED PPP LENDER, DEPLOYING MORE THAN 4 MILLION IN FUNDING TO HUNDREDS OF BUSINESSES. WITH AN AVERAGE PPP LOAN SIZE OF LESS THAN 20000, THE ORGANIZATION SERVED SMALL BUSINESSES THAT DIDNT HAVE ACCESS TO PPP FUNDS FROM TRADITIONAL FINANCIAL INSTITUTIONS
SMALL BUSINESS DEVELOPMENT THE ORGANIZATION PROVIDES IN-KIND SERVICE/RESOURCES TO AN AFFILIATE ORGANIZATION THAT INVEST IN INNOVATIVE AND MEASURABLE COMMUNITY DEVELOPMENT THAT ALIGNS WITH AND STRENGTHENS THE FINANCIAL, HUMAN, AND SOCIAL CAPITAL OF UNDER-RESOURCED NEIGHBORHOODS IN THE KANSAS CITY METROPOLITAN REGION. OUR AFFILIATE ORGANIZATION HAS DEPLOYED MORE THAN 1 MILLION TO NEIGHBORHOODS AND GRASSROOT ORGANIZATIONS AND ORGANIZED COMMUNITY DEVELOPMENT WORKSHOPS. WE ALSO OFFER SMALL BUSINESSES TECHNICAL ASSISTANCE AND THE OPPORTUNITY TO PARTICIPATE IN THE INTERISE STREETWISE MBA BUSINESS DEVELOPMENT CURRICULUM.
NEW MARKET TAX CREDIT PROGRAM - SINCE 2008, THE ORGANIZATION HAS PARTICIPATED IN A FEDERAL TAX CREDIT PROGRAM THAT IS USED TO STIMULATE INVESTMENT IN ECONOMICALLY DISTRESSED COMMUNITIES. THE ORGANIZATION CUMULATIVELY HAS DEPLOYED 138 MILLION IN NEW MARKET TAX CREDITS WHICH WERE USED TO FINANCE JOB CREATING BUSINESSES AND AS A CATALYST FOR REAL ESTATE DEVELOPMENT PROJECTS IN KANSAS CITY METRO AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruben Alonso III President | Officer | 40 | $179,559 |
Carmen Lopez Murgia VP Of Lending And Client Services | 40 | $123,009 | |
John Teasdale Senior Business Development Officer | 40 | $101,720 | |
Dawn Kennedy Dir. Of Asset Management And Compliance | 40 | $98,981 | |
David Brain Board Chair | OfficerTrustee | 1.5 | $0 |
Robert Givens Treasurer | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,006,389 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,276,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,282,639 |
| Total Program Service Revenue | $2,774,695 |
| Investment income | $3,295 |
| 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 | $6,210,127 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $115,724 |
| 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. | $191,130 |
| Compensation of current officers, directors, key employees. | $95,565 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,079,084 |
| Pension plan accruals and contributions | $26,073 |
| Other employee benefits | $67,704 |
| Payroll taxes | $113,368 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $175,569 |
| Fees for services: Accounting | $115,491 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $160,491 |
| Advertising and promotion | $107,655 |
| Office expenses | $23,614 |
| Information technology | $38,115 |
| Royalties | $0 |
| Occupancy | $19,816 |
| Travel | $14,948 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,979 |
| Interest | $181,143 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,660 |
| Insurance | $4,943 |
| All other expenses | $53,397 |
| Total functional expenses | $2,701,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,177,048 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $467,527 |
| 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 | $0 |
| Net Land, buildings, and equipment | $860 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,561,649 |
| Intangible assets | $44,975 |
| Other assets | $0 |
| Total assets | $30,252,059 |
| Accounts payable and accrued expenses | $692,569 |
| Grants payable | $0 |
| Deferred revenue | $283,054 |
| 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 | $13,125,773 |
| Other liabilities | $255,234 |
| Total liabilities | $14,356,630 |
| Net assets without donor restrictions | $13,037,929 |
| Net assets with donor restrictions | $2,857,500 |
| 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 | $30,252,059 |
Grants Awarded
Over the last fiscal year, Altcap has awarded $108,224 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Kansas City, MO PURPOSE: Working capital | $78,224 |
CAFE CA PHE LLC PURPOSE: Working capital | $20,000 |
OPHELIA'S BLUE VINE FARM PURPOSE: Working capital | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Altcap has recieved totaling $5,300,000.
| Awarding Organization | Amount |
|---|---|
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT TO CAPITALIZE A $5 MILLION LOAN FUND TO SERVE ENTREPRENEURS IN LOW TO MODERATE INCOME AREAS AND/OR WHO HAVE BEEN DENIED ACCESS TO CAPITAL DUE TO HISTORIC OR SYSTEMIC CONDITIONS BASED ON THEIR RACE; SUPPORT FOR CAPACITY BUILDING TO DEPLOY THE FUND. 202109-11336 | $3,200,000 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR THE CAPITALIZATION OF A $5 MILLION LOAN FUND INTENDED TO SERVE ENTREPRENEURS IN LOW TO MODERATE INCOME AREAS AND ENTREPRENEURS WHO HAVE BEEN REJECTED FOR COMMERCIAL FINANCING, AND SUPPORT FOR CAPACITY BUILDING TO DEPLOY THE FUND. 202109-11336 | $2,100,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Eastern Iowa Davenport, IA | $4,145,446 | $19,807,458 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |
Northern Kentucky Community Action Commisson Inc Covington, KY | $8,823,439 | $18,121,235 |
Embarras River Basin Agency Inc Greenup, IL | $2,961,671 | $18,793,359 |
Jefferson Franklin Community Action Corporation Hillsboro, MO | $6,544,452 | $18,340,130 |
Tri-County Opportunities Council Rock Falls, IL | $4,101,390 | $18,238,868 |
Upper Des Moines Opportunity Inc Graettinger, IA | $5,376,639 | $17,208,548 |
Central Nebraska Community Action Partnership Inc Loup City, NE | $11,182,517 | $15,277,585 |
Community Action Agency Of Siouxland Sioux City, IA | $5,735,581 | $15,017,682 |
Mid-Iowa Community Action -Mica- Incorporated Marshalltown, IA | $3,849,705 | $14,587,976 |
Northwest Arkansas Council Foundation Springdale, AR | $9,473,428 | $13,530,717 |