2024-11-15T04:37:27-00:00 2023-12-31 431794646 WELCH & ASSOCIATES LLC 2405 GRAND BOULEVARD SUITE 1040 KANSAS CITY MO 64108 990 2023-01-01 874700265 ALTCAP CALIFORNIA ALTC 3108746233 3415 SOUTH SEPULVEDA BLVD SUITE 110 LOS ANGELES CA 90034 DAVID DESAI-RAMIREZ MARKET PRESIDENT 3108746233 2024-11-15 true true BRIAN D WELCH P00177410 8167562620 2024-11-15 2023 2024-10-15 13:58:12Z DAVID DESAI-RAMIREZ 3415 SOUTH SEPULVEDA BLVD SUITE 110 HAWTHORNE CA 90250 297922 false X ALTCAP.ORG X 2021 CA See description on Page 2, Part III, Line 1 3 3 0 3 0 1369474 0 295331 0 2591 1369474 297922 500 0 0 235189 239274 0 158681 108785 508398 344474 747672 1025000 -449750 1025000 4843341 450000 1025000 4393341 To be a catalyst for investment in Los Angeles metropolitan communities throught innovative financial products, targeted economic and community development programming, and the development of strategic partnerships that promote community collaboration and capacity building. false false 426352 295331 In 2023 the Organization continued to deploy needed financing to underserved and overlooked entrepreneurs. The Organization was able expand its reach to more communities and serve more entrepreneurs, providing access to capital to support new, small business creation as well as support the growth of existing small businesses. In addition to small business and micro loans, the Organization increased the availability, accessibility and flexibility of its capital by offering revenue-based financing loans to entrepreneurs. We deployed over 4million to minority entrepreneurs in Southern California. 426352 false false false false false false false false false false false true false true true true true false false false false false false false false false false false true false false false false false false false false false false false false false true false false true 0 0 0 false false false false false false false false false false false false X 3 3 false false false false false false false true false false false true true true true false true true false false X ALTCAP 8162161851 300 EAST 39TH STREET SUITE 3G KANSAS CITY MO 64111 DAVID DESAI-RAMIREZ PRESIDENT 040.00 005.00 X 0 196049 15000 JACQUELYN JONES CHAIR 001.50 X X 0 0 0 DANIEL FERNANDEZ TREASURER 001.50 X X 0 0 0 RUBEN ALONSO III SECRETARY 001.50 040.00 X X 0 0 0 196049 15000 1 false true false Consumer lending 522291 295331 295331 295331 2591 2591 2591 297922 295331 2591 X 0 0 0 0 239274 47855 119637 71782 0 0 0 0 0 0 81221 81221 2991 2991 0 0 116742 116742 0 18928 3786 9464 5678 0 0 0 19572 19572 0 10614 10614 0 0 0 0 Tansaction fees for loan activities 21599 21599 Bad debt expense 233867 233867 2864 2503 361 747672 426352 162639 158681 1025000 161858 15320 4666163 1025000 4843341 450000 0 450000 X 1025000 4393341 1025000 4393341 1025000 4843341 X -449750 3818091 X true X true X true true true false Financial derivatives and other financial products Closely-held equity interests Loan receivables, net of allowance for doubtful accounts 4666163 C 4666163 Federal income taxes X 297922 297922 297922 747672 747672 747672 X 2 The Corporation accounts for tax positions in accordance with guidance on accounting for uncertaintax positions. Tax positions taken may include positions that the Corporation is exempt from incometaxes or be related to how the Corporation determines its unrelated business income. TheCorporation recognizes the financial statement effects of a tax position only when it believes it canmore likely than not sustain the position upon an examination by the relevant tax authority. false false false false false false false false false DAVID DESAI-RAMIREZ PRESIDENT 205961 5000 6329 8503 225793 Form 990, Part VI, Section A, Line 8b This question is not applicable because committees cannot bind the Organization without board approval. However, the question must be answered to electronically file. Accordingly, we checked no to signify that the question is not applicable. Form 990, Part VI, Section B, Line 11b The tax return is prepared by an external accountant and reviewed by management. After review by management the return is provided to the full board for review prior to being filed with the IRS. Form 990, Part VI, Section B, Line 12c The Organizations management level employees and its Board of Directors annually review the Conflict of Interest policy. Form 990, Part VI, Section B, Line 15 a,b These questions are not applicable because the Organization does not pay compensation to anyone meeting this definition. However, the questions must be answered to electronically file. Accordingly we checked No to signify that the questions are not applicable. Form 990, Part VI, Section C, Line 19 The governing documents, conflict of interest policy, financial statements, and Form 990 tax returns are made available upon request. Form 990, Part IX, Line 11g Contractors for loan processing, underwriting, technical assistance and other ancillary services related to our lending activities discussed at Part III, 4a. Form 990, Part XI, Line 9 We received and equity contribution from AltCap. ALTCAP 300 EAST 39TH STREET SUITE 3G KANSAS CITY MO 64111 412183377 Economic Develpment MO 501c4 N/A false false false false false false false false false false false false false false false false false false false false