2024-06-11T18:14:26-05:00 2023-12-31 460988298 Goldstein Franklin 3699 Wilshire Blvd Suite 610 Los Angeles CA 90010 990 2023-01-01 271916296 Poverty Solutions Inc CED Capital % Frank I Igwealor POVE 3108951839 370 Amapola Avenue Ste 200A Torrance CA 90501 FRANK I IGWEALOR President and CEO 3108951839 2024-06-11 false FRANK IGWEALOR 999009999 false FRANK I IGWEALOR P01584956 3108951839 2024-06-11 2 AAL2 IAL1 2023 2023-04-26 12:10:37Z CED Capital FRANK I IGWEALOR 370 Amapola Avenue Ste 200A Torrance CA 90501 3825665 false X Povsol.com X 2008 CA Poverty Solutions designs and deploys programs that empower lowincome to permanently escape poverty through financial capability training 6 4 0 45 0 6050 3524165 1450045 301500 0 0 1456095 3825665 0 0 434316 192260 0 11643 76204 435574 510520 627834 945575 3197831 5234004 10846692 160824 2352178 5073180 8494514 During the year ended 12/31/2023, Poverty Solutions (P-Solutions) successfully served 17,380 low-income persons needing financial education, and entrepreneurship development. false false 273489 221025 52464 Entrepreneurship Development Training Managed 45 (legal and finance experts) volunteers, who spent 6,315 hours in our Civic Entrepreneurship, Small Business Accounting Seminars, and our Financial Literacy Classes. Capacity Building Technical Assistance: (1) Assisted 61 nonprofits needing accounting, audit and other technical assistance, helping 33 with strategic planning, budgeting, and compliance reviews; (2) Conducted 208 financial needs and technical capacity assessments for community-based nonprofits ? helping 29 of the participants to boost revenue; (3) Assisted 58 small businesses with strategic ?planning; and (4) Conducted 228 bookkeeping and budget projections. 241249 219536 21712 Assisted 45 low-income families with down-payment assistance and home improvement/rehabilitation loans; Facilitated 97 small business loans as follows: (a) 21 real-estate facilities loans; (b) 19 equipment-loans, (c) 27 business expansion loans including 17 healthy-food expansion into food deserts. 107930 98216 9741 Financial Literacy Hosted 28 Empowerment & Economic Opportunities Workshops Served 17,380 low-income persons needing financial literacy training Homeownership education, and entrepreneurship development. 622668 true true false false false 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 false false false false false false false false false false false false false false false false false true 0 0 true 0 false false false false false false false false false false X 6 4 false false false false false false false true true false false true true true true true true true true false CA X FRANK I IGWEALOR 3108951839 370 Amapola Avenue Ste 200A Torrance CA 90501 X FRANK I IGWEALOR President and CEO X 0 0 0 MARTIN NWAEGE Director X 0 0 0 AMBROSE O EGBUONU Chairman X 0 0 0 1 false false false 3524165 3524165 Small Business Lending 522200 301500 301500 301500 0 3825665 301500 X 126835 115420 7610 3805 22890 20830 1373 687 1236 1125 74 37 41299 37582 2478 1239 13366 12163 802 401 6900 6279 414 207 5672 5162 340 170 188611 173983 9531 5097 Entrepreneurship Developmnt 221025 221025 627834 593569 22622 11643 353637 3152591 2373953 2945076 2485526 4717988 36976 5939 20888 31037 5234004 10846692 35793 35793 125031 2310000 6385 160824 2352178 X 2377524 2380024 2695656 6114490 5073180 8494514 5234004 10846692 3197831 X X true X true X true true true X 342697 169629 2416265 6050 3524165 221025 35 301500 4046690 0.87080 342697 169639 2416265 6050 3524165 6458816 301500 301500 221025 221025 342697 169639 2416265 6050 4046690 6981341 6981341 25 25 25 25 342697 169639 2416290 6050 4046690 6981366 1.00000 0.99999 0.00000 0.00001 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false 36976 5939 31037 31037 Part VI Line 11b At the year-end, the board members are provided the annual and fin reports Part VI Line 11b covering all activities to be reported in the 990 and a 990 draft report Part VI Line 12c We use the Conflict of Interest Policies and Procedures to monitor for Part VI Line 12c potential and actual conflict and mitigate before transaction has occurred. Part VI Line 15a or b CEO, CFO, Directors Part VI Line 19 They are available for public at our office located at 370 Amapola Ave Part IX Line 11g Automobile Expense Total expenses - $2722.00 Program service expenses - $2477.00 Mgmt and general expenses - $163.00 Fundraising expenses - $82.00 Part IX Line 11g Training/Staff Developmen Total expenses - $43876.00 Program service expenses - $39927.00 Mgmt and general expenses - $2633.00 Fundraising expenses - $1316.00 Part IX Line 11g Payroll Expenses Total expenses - $5007.00 Program service expenses - $4557.00 Mgmt and general expenses - $300.00 Fundraising expenses - $150.00 Part IX Line 11g Community Outreach Initia Total expenses - $11052.00 Program service expenses - $10720.00 Mgmt and general expenses - $0.00 Fundraising expenses - $332.00 Part IX Line 11g Occupancy Total expenses - $42000.00 Program service expenses - $38220.00 Mgmt and general expenses - $2520.00 Fundraising expenses - $1260.00 Part IX Line 11g Parking, Utilities Others Total expenses - $3734.00 Program service expenses - $3398.00 Mgmt and general expenses - $224.00 Fundraising expenses - $112.00 Part IX Line 11g Insurance -Health, Others Total expenses - $50226.00 Program service expenses - $45705.00 Mgmt and general expenses - $3014.00 Fundraising expenses - $1507.00 Part IX Line 11g Real Estate Services Total expenses - $18707.00 Program service expenses - $18707.00 Mgmt and general expenses - $0.00 Fundraising expenses - $0.00 Part IX Line 11g Office Supplies Total expenses - $4747.00 Program service expenses - $4320.00 Mgmt and general expenses - $285.00 Fundraising expenses - $142.00 Part IX Line 11g All others Total expenses - $6540.00 Program service expenses - $5952.00 Mgmt and general expenses - $392.00 Fundraising expenses - $196.00 Part VI Line 1a None Part VI Line 1a The governing board has not delegated broad authority to any executive Part VI Line 1a committee or similar committee Part VI Line 11b The 990 is prepared and sent to each board member prior to meeting date Part VI Line 11b when the governing board meets after the year-end to review and approve. Part VI Line 12c We use the Conflict of Interest Policies and Procedures to monitor for Part VI Line 12c potential and actual conflict and mitigate before transaction has occurred. Part VI Line 15a or b CEO, CFO, Directors Part VI Line 18 Our facilities at 370 Amapola Ave., Suite 200A, Torrance CA 90501 Part VI Line 19 P-Solutions made public and available to the public upon request Part VI Line 19 They are available for public at our office located at 370 Amapola Ave Part XII Line 2c The organization did not change its oversight process or selection Part XII Line 2c process during 2023 Part XII Line 3b Poverty Solutions is currently going through the required annual audit