2024-10-17T13:03:22-05:00 2023-12-31 751044330 LANE GORMAN TRUBITT LLC 2626 HOWELL ST SUITE 700 DALLAS TX 75204 990 2023-01-01 383910893 ON THE ROAD LENDING ONTH 2142262542 1500 NORTH LOOP 12 IRVING TX 75061 MICHELLE CORSON CEO 2142262542 2024-10-10 1 1 KEVIN WARNEKE P01294950 2148717500 2023 2024-10-15 13:58:12Z MICHELLE CORSON 1500 NORTH LOOP 12 IRVING TX 75061 2891033 0 X WWW.ONTHEROADLENDING.ORG X 2013 TX TO LIFT PEOPLE FROM POVERTY THROUGH TRANSPORTATION INNOVATION. 7 7 12 7 0 0 2205649 2458635 560267 432398 0 0 6 0 2765922 2891033 6800 10000 0 0 1436131 1206817 0 0 43201 1999155 1518126 3442086 2734943 -676164 156090 16935632 11746055 17647246 17759110 -711614 -6013055 X ON THE ROAD LENDING SEEKS TO LIFT PEOPLE FROM POVERTY THROUGH TRANSPORTATION INNOVATION, PROVIDING FINANCIAL WORKFORCE EDUCATION. CONTINUED ON SCHEDULE O.THE MOBILITY PROGRAM HELPS TO MAKE BETTER CONSUMERS BY PROVIDING FINANCIAL COACHING, COURSEWORK, AND VEHICLE SELECTION ASSISTANCE, PREPARING LOW- TO MODERATE-INCOME PEOPLE TO PURCHASE RELIABLE TRANSPORTATION THAT WILL ENABLE THEM TO REACH BETTER-PAYING JOBS. THE GARAGE PROGRAM PROVIDES OPPORTUNITIES FOR UNDER-REPRESENTED POPULATIONS TO RECEIVE ON-THE-JOB TRAINING THROUGH REGISTERED APPRENTICESHIP PROGRAMS IN HIGH-WAGE, HIGH-GROWTH OCCUPATIONS WITHIN THE AUTOMOTIVE COLLISION REPAIR INDUSTRY. 0 0 1482454 10000 426298 FREEDOM OF MOBILITY PROGRAM ENABLES CLIENTS TO PURCHASE A LATE MODEL VEHICLE UNDER WARRANTY. ON THE ROAD LENDING WORKED WITH ABOUT 1,000 PEOPLE IN THE MOBILITY PROGRAM, GETTING 72 INTO VEHICLES DURING 2023. 987465 6100 ON THE ROAD LENDING'S TRANSPORTATION WORKFORCE TRAINING PROGRAM PROVIDES APPRENTICESHIPS IN FIVE PROGRAMS REGISTERED WITH THE DEPARTMENT OF LABOR. THERE WERE A TOTAL OF 6 APPRENTICES IN 2023, WITH TWO GRADUATING AND ONE IS STILL IN THE PROGRAM. 2469919 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9 0 1 12 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 1 1 X MICHELLE CORSON 2142262542 1500 NORTH LOOP 12 IRVING TX 75061 X DAVID CHARD CHAIRMAN 1.00 X X 0 0 0 MICHELLE CORSON CEO & DIRECTOR 15.00 X X 0 0 0 YOLANDA TURNER SECRETARY 1.00 X X 0 0 0 YVETTE RICHARDS DIRECTOR 1.00 X 0 0 0 KEVIN CONLEY DIRECTOR 1.00 X 0 0 0 SHARRON HUNT DIRECTOR 1.00 X 0 0 0 RICH WALDEN DIRECTOR 1.00 X 0 0 0 WILLIAM LONG JR PRESIDENT 40.00 X 202500 0 13110 LONNIE SMITH PRESIDENT 40.00 X 186390 0 34039 388890 0 47149 2 0 1 0 0 74998 1278895 1104742 2458635 DEVELOPMENT SERVICES 561000 426298 426298 GARAGE PROGRAM 532420 6100 6100 432398 2891033 432398 0 0 10000 10000 995736 943388 21508 30840 148127 147456 671 62954 59159 1609 2186 25611 25611 60000 60000 44998 29748 15250 60359 60359 25238 9856 15382 160788 160788 12142 12142 64743 61525 3218 554788 483082 71706 495836 492416 1976 1444 2588 2588 GRANT SUPPORT 7500 7500 GARAGE REPAIRS 576 576 2959 1728 1231 2734943 2469919 221823 43201 X 557435 502030 30502 3776608 10299 8285 7362 11764293 1147322 11106201 10616971 1456601 609393 16935632 11746055 889780 2627551 2033 2033 15255433 15129526 1500000 0 17647246 17759110 X -742116 -6013055 30502 0 -711614 -6013055 16935632 11746055 X 156090 -5457531 X X 0 1 X 1 0 X 4104290 927611 4779694 2205649 2458635 14475879 4104290 927611 4779694 2205649 2458635 14475879 5875183 8600696 8565 270 6 8841 40 40 14484760 2758943 0.59380 0.62380 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 175404 175404 9757077 582437 9174640 257611 31828 225783 1569201 531265 1037936 5000 1792 3208 10616971 INVESTMENT IN OTRF 609393 609393 X 2891033 0 2891033 0 2891033 8192474 5457531 5457531 2734943 0 2734943 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE ACCORDING TO THE UNITED STATES INTERNAL REVENUE SERVICE ("IRS") DETERMINATION LETTER DATED NOVEMBER 6, 2014, EXCEPT TO THE EXTENT IT HAS UNRELATED BUSINESS INCOME. FOR THE YEAR ENDED DECEMBER 31, 2023, UNRELATED BUSINESS INCOME DID NOT RESULT IN ANY MATERIAL NET TAXABLE INCOME, THEREFORE NO PROVISION FOR INCOME TAX HAS BEEN PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GAAP REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE ORGANIZATION'S FINANCIAL STATEMENTS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE LIKELY THAN NOT THRESHOLD WOULD BE RECORDED AS A TAX BENEFIT OR EXPENSE IN THE CURRENT YEAR. A RECONCILIATION IS NOT PROVIDED HEREIN, AS THE BEGINNING AND ENDING AMOUNTS OF UNRECOGNIZED BENEFITS ARE ZERO, WITH NO INTERIM ADDITIONS, REDUCTIONS, OR SETTLEMENTS. THE ORGANIZATION IS RELYING ON ITS TAX-EXEMPT STATUS AND ITS ADHERENCE TO ALL APPLICABLE LAWS AND REGULATIONS TO PRESERVE THAT STATUS. HOWEVER, THE CONCLUSIONS REGARDING THE UNCERTAINTY IN INCOME TAXES WILL BE SUBJECT TO REVIEW AND MAY BE ADJUSTED AT A LATER DATE BASED ON FACTORS INCLUDING, BUT NOT LIMITED TO, ONGOING ANALYSIS OF TAX LAWS, REGULATIONS, AND INTERPRETATIONS THEREOF. THE ORGANIZATION RECOGNIZES INTEREST AND PENALTIES, IF ANY, RELATED TO UNCERTAIN TAX POSITIONS AS INCOME TAX EXPENSE. THE ORGANIZATION'S INFORMATIONAL RETURNS FILED WITH THE IRS ARE GENERALLY SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THE LATER OF THE DUE DATE OR DATE OF FILING. PART XII, LINE 2D - OTHER ADJUSTMENTS: DEBT FORGIVENESS FROM ON THE ROAD GARAGE 5,457,531. 0 GENESIS WOMENS SHELTER & SUPPORT 2023 LUCAS DRIVE DALLAS TX 75219 871061849 10000 0 GRANT FOR PROGRAMS 1 X X 0 0 0 0 0 0 0 0 0 LONNIE SMITH PRESIDENT 186390 0 0 0 0 0 2095 0 31944 0 220429 0 0 0 WILLIAM LONG JR PRESIDENT 202500 0 0 0 0 0 0 0 13110 0 215610 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS EMAILED TO THE BOARD TREASURER BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD OF DIRECTORS IS REQUIRED ANNUALLY TO SIGN A CONFLICT OF INTEREST STATEMENT. MANAGEMENT INSURES THAT STAFF AND THE BOARD MEMBERS ARE EXEMPTED AS CONTRACTORS AND/OR VENDORS OF ON THE ROAD LENDING. THE BOARD MEMBER SHALL DISCLOSE THE CONFLICT AND THE BOARD AS A BODY SHALL OPINE ON A COURSE OF ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S COMPENSATION COMMITTEE REVIEWS COMPENSATION WITH THE ASSISTANCE OF AN INDEPENDENT CONSULTANT AND THIRD-PARTY COMPENSATION STUDIES. THE FINAL APPROVAL OF MANAGEMENT COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS AND DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART X THE ORGANIZATION EXECUTED LOAN AGREEMENTS ON NOVEMBER 23, 2021, THAT PROVIDES FOR BORROWINGS OF $5,696,600 AND $2,303,400 FROM GSNMF SUB-CDE 34 LLC. THE LOANS WERE TO REFINANCE CERTAIN PROPERTY AND PROVIDE FUNDING TO IMPROVEMENTS TO THE PROPERTY AND ARE INTENDED TO BE TREATED AS "QUALIFIED LOW-INCOME COMMUNITY INVESTMENT" FOR PURPOSES OF GENERATING NEW MARKET TAX CREDITS UNDER SECTION 45D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE LOANS ARE SECURED BY A PROPERTY DEED OF TRUST, SECURITY AGREEMENT AND GUARANTEED BY CHAMPION IMPACT CAPITAL, AN AFFILIATE OF THE ORGANIZATION. EACH LOAN ACCRUES INTEREST AT 1%, PAYABLE QUARTERLY BEGINNING ON DECEMBER 2021 UNTIL NOVEMBER 2028. QUARTERLY PRINCIPAL PAYMENTS BEGIN MARCH 2029. AFTER THE FIRST DAY FOLLOWING THE END OF THE TAX CREDIT INVESTMENT PERIOD OR THE OCCURRENCE OF A NMTC RECAPTURE EVENT AND FOR 180 DAYS THEREAFTER, U.S. BANCORP COMMUNITY DEVELOPMENT CORPORATION (USBCDC) CAN EXERCISE ITS "PUT OPTION" TO SELL ITS INTEREST IN TWAIN INVESTMENT FUND 601, LLC (INVESTMENT FUND) TO THE ORGANIZATION FOR $1,000 PLUS TRANSFER TAXES AND OTHER CLOSING COSTS, ANY AMOUNTS DUE AND OWING FROM OTRL OR ANY OF THE ORGANIZATION'S AFFILIATES, ANY UNPAID MANAGEMENT FEES AND EXPENSES OF THE INVESTMENT FUND OTHER THAN COMPANY EXPENSES. IN THE EVENT THAT USBCDC HAS NOT EXERCISED THE PUT OPTION, CHAMPION IMPACT CAPITAL SHALL HAVE THE RIGHT AND OPTION TO PURCHASE ALL, BUT NOT LESS THAN ALL, OF USBCDC'S INTEREST FOR 180 CALENDAR DAYS FOLLOWING THE EXPIRATION OF THE PUT OPTION. AFTER EXERCISING ITS OPTION TO PURCHASE THE INTEREST IN THE FUND, THE ORGANIZATION CAN CANCEL THE NEW MARKETS TAX CREDIT PROGRAM NOTES PAYABLE. FORM 990, PART XI, LINE 9: DEBT FORGIVENESS FROM ON THE ROAD GARAGE -5,457,531. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS.