City First Enterprises Inc
- Assets
- $50.6m
- Revenue
- $41.2m
- Investments
- $250.0k
- Employees
- 14
- Location
- Washington, DC
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 52-2101165
Organization Overview
City First Enterprises Inc is located in Washington, DC. The organization was established in 1998. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2021, City First Enterprises Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. City First Enterprises Inc 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, City First Enterprises Inc generated $41.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 44.1% each year . All expenses for the organization totaled $41.0m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, City First Enterprises Inc has awarded 438 individual grants totaling $23,450,382. 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
TO PROMOTE EQUITY AND OPPORTUNITY BY PROVIDING INCREASED ACCESS TO RESPONSIBLE CAPITAL AND COMPLEMENTARY FINANCIAL SERVICES TO UNDERSERVED COMMUNITIES WITH A GOAL OF ENSURING THE LONG-TERM WELL BEING AND RESILIENCE OF INDIVIDUALS, FAMILIES AND INSTITUTIONS. WE OFFER FINANCING AND RELATED SERVICES FOR HOUSING, SMALL BUSINESSES, COMMUNITY FACILITIES, NON-PROFITS AND OTHER MARKET PARTICIPANTS THAT HAVE A POSITIVE IMPACT ON LOW AND MODERATE INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGED PORTFOLIO OF DEPLOYED FUNDS IN SUBORDINATED LOANS TO NONPROFITS, SMALL BUSINESSES, GREEN ENERGY, AND AFFORDABLE HOUSING ORGANIZATIONS WITHIN THE GREATER WASHINGTON METROPOLITAN COMMUNITY, AS WELL AS PROVIDE TECHNICAL ASSISTANCE AND CREDIT COUNSELING TO BORROWERS. CONTINUED CREATION OF PERMANENTLY AFFORDABLE HOUSING BY WHOLLY OWNED SUBSIDIARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Oswaldo Acosta President And CEO | 40 | $210,000 | |
Rodrigo Cordon Portfolio Operations Direc | 40 | $130,000 | |
Sharon Feuer Gruber Director Partnership & Development | 40 | $130,000 | |
Jonathan Reyes Loan Officer | 40 | $115,000 | |
Stephanie Meyer Chief Credit Officer | 40 | $101,188 | |
David Mcgrady Vice-Chairman | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $39,826,094 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,826,094 |
| Total Program Service Revenue | $0 |
| Investment income | $970,713 |
| 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 | $41,161,285 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,823,040 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,093,587 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $125,675 |
| Payroll taxes | $87,693 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,430 |
| Fees for services: Accounting | $56,104 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $42,252 |
| Advertising and promotion | $0 |
| Office expenses | $105,541 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,645 |
| Travel | $253 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,162 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $3,577,909 |
| Total functional expenses | $40,988,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,754,445 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,531 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,263,587 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,661 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,297,365 |
| Investments—other securities | $250,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $50,642,589 |
| Accounts payable and accrued expenses | $35,102 |
| Grants payable | $0 |
| Deferred revenue | $8,142,262 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $13,800 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,252,100 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $110,718 |
| Total liabilities | $20,553,982 |
| Net assets without donor restrictions | $30,059,968 |
| Net assets with donor restrictions | $28,639 |
| 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 | $50,642,589 |
Grants Awarded
Over the last fiscal year, City First Enterprises Inc has awarded $22,860,137 in support to 430 organizations.
| Grant Recipient | Amount |
|---|---|
919 U STREET LLC PURPOSE: COVID-19 ASSISTANCE | $62,000 |
520 FLORIDA AVENUE RESTAURANT LLC PURPOSE: COVID-19 ASSISTANCE | $62,000 |
ANB623 LLC PURPOSE: COVID-19 ASSISTANCE | $62,000 |
APPLE HOSPITALITY LLC PURPOSE: COVID-19 ASSISTANCE | $62,000 |
AREPA ZONE LLC PURPOSE: COVID-19 ASSISTANCE | $62,000 |
14U SANDWICHES LLC PURPOSE: COVID-19 ASSISTANCE | $62,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that City First Enterprises Inc has recieved totaling $1,098,500.
| Awarding Organization | Amount |
|---|---|
Capital Impact Partners Arlington, VA PURPOSE: OPEN FOR BUSINESS FUND AND ENTREPRENEURS OF COLOR | $723,500 |
Prosperity Now Washington, DC PURPOSE: TO PROMOTE THE ORGANIZATION'S MISSION & EXPAND ITS REACH TO THE UNDERSERVED POPULATION | $375,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Associated Catholic Charities Inc Timonium, MD | $200,755,872 | $142,713,595 |
Democracy Fund Inc Washington, DC | $93,636,268 | $59,747,292 |
Interchurch Medical Assistance Inc Washington, DC | $35,417,903 | $56,104,166 |
Mag America Inc Washington, DC | $11,970,594 | $53,429,692 |
Friends Of The World Food Program Inc Washington, DC | $25,343,754 | $59,828,688 |
Catholic Charities Of The Archdiocese Of Washington Inc Washington, DC | $69,271,644 | $52,757,033 |
City First Enterprises Inc Washington, DC | $50,642,589 | $41,161,285 |
United Planning Organization Washington, DC | $21,957,692 | $39,543,643 |
Navy Marine Coast Guard Residence Foundation Mclean, VA | $169,576,374 | $36,329,894 |
Jewish Social Service Agency Rockville, MD | $78,004,250 | $40,027,018 |
American Action Network Inc Washington, DC | $3,726,560 | $29,638,224 |
Medsource Community Services Inc Hagerstown, MD | $13,934,817 | $31,083,317 |