Icafund
- Assets
- $16.1m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 16
- Location
- Oakland, CA
- Founding
- 04/2003
- Data as of
- 12/2021
- EIN
- 47-0898054
Organization Overview
Icafund is located in Oakland, CA. The organization was established in 2003. 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, Icafund employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Icafund 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, Icafund generated $6.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.5% each year . All expenses for the organization totaled $3.0m during the year ending 12/2021. While expenses have increased by 9.7% 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
PROVIDE COACHING, CONNECTIONS, AND CAPITAL TO GROW SAN FRANCISCO BAY AREA BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
3 NEW EQUITY INVESTMENT, 9 SEED EQUITY INVESTMENTS, 10 PORTFOLIO COMPANIES SUPPORTED, 6 NEW RAPID RESPONSE LIQUIDITY FUND EMERGENCY LOANS DEPLOYED TO SMALL BUSINESS.
102 ENTREPRENEURS SERVED THROUGH EDUCATION OFFERINGS.
219.8 HOURS OF ADVISING HOURS PROVIDED TO SMALL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allison Kelly Chief Executive Officer | Officer | 40 | $237,333 |
John Gough Chief Investment Officer | Officer | 40 | $208,394 |
Diana Tremblay Chief Programs Officer | Officer | 40 | $161,634 |
Daniel Lee VP Of Finance And Operations | 40 | $159,168 | |
Yui Ueno Senior Director Of Investments | 40 | $130,680 | |
Willis Wilson Dir Of Investment & Portfolio Mgmt | 40 | $111,654 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $848,595 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,477,591 |
| Noncash contributions included in lines 1a–1f | $7,990 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,327,186 |
| Total Program Service Revenue | $188,596 |
| Investment income | $0 |
| 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 | $6,518,782 |
| 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. | $656,389 |
| Compensation of current officers, directors, key employees. | $34,574 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $940,687 |
| Pension plan accruals and contributions | $27,458 |
| Other employee benefits | $115,459 |
| Payroll taxes | $120,718 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,993 |
| Fees for services: Accounting | $64,753 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $277,386 |
| Advertising and promotion | $119,522 |
| Office expenses | $179,226 |
| Information technology | $25,980 |
| Royalties | $0 |
| Occupancy | $61,337 |
| Travel | $5,010 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,169 |
| Interest | $343,062 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $17,264 |
| All other expenses | $0 |
| Total functional expenses | $3,034,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,802 |
| Savings and temporary cash investments | $7,417,033 |
| Pledges and grants receivable | $136,166 |
| Accounts receivable, net | $0 |
| 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 | $10,098 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $8,273,064 |
| Intangible assets | $0 |
| Other assets | $114,958 |
| Total assets | $16,139,121 |
| Accounts payable and accrued expenses | $206,406 |
| 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 | $5,300,000 |
| Other liabilities | $0 |
| Total liabilities | $5,506,406 |
| Net assets without donor restrictions | $8,757,715 |
| Net assets with donor restrictions | $1,875,000 |
| 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 | $16,139,121 |
Grants Awarded
Over the last fiscal year, Icafund has awarded $126,843 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
San Francisco, CA PURPOSE: GENERAL SUPPORT | $75,000 |
Oakland, CA PURPOSE: GENERAL SUPPORT | $51,843 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Icafund has recieved totaling $2,965,500.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Community Development | $1,100,000 |
Crankstart Foundation San Francisco, CA PURPOSE: GENERAL SUPPORT | $1,000,000 |
Tarsadia Foundation Newport Beach, CA PURPOSE: PROGRAM SUPPORT | $500,000 |
Opportunity Finance Network Philadelphia, PA PURPOSE: OFNS SMALL BUSINESS GRANT PROGRAM FUNDED BY GOOGLE.ORG | $150,000 |
Tides Foundation San Francisco, CA PURPOSE: EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT | $100,000 |
William Randolph Hearst Foundation New York, NY PURPOSE: SUPPORT FOR ONGOING OPERATIONS | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partners In Development Foundation Honolulu, HI | $6,037,007 | $19,233,237 |
Pasadena Center Operating Company Pasadena, CA | $155,500,535 | $24,244,402 |
Community Action Partnership Of Sonoma County Santa Rosa, CA | $6,669,063 | $15,581,119 |
Ideoorg San Francisco, CA | $12,398,491 | $9,854,732 |
Reinvent Stockton Foundation Stockton, CA | $46,832,546 | $19,773,564 |
Project Access Inc Orange, CA | $2,961,540 | $13,042,187 |
East Los Angeles Community Union Los Angeles, CA | $130,392,954 | $16,987,947 |
Gamaliel Of California Santa Rosa, CA | $3,034,268 | $10,017,971 |
Downtown Santa Monica Inc Santa Monica, CA | $4,897,203 | $9,308,728 |
Resources For Community Development Berkeley, CA | $93,266,557 | $6,994,658 |
Lake Wildwood Association Penn Valley, CA | $30,720,187 | $8,953,678 |
Antelope Valley Partners For Health Lancaster, CA | $4,220,936 | $10,090,239 |