2024-07-08T10:27:23-05:00 2023-12-31 381357951 PLANTE & MORAN PLLC 8181 E TUFTS AVE SUITE 600 DENVER CO 80237 990 2023-01-01 742814572 PEOPLEFUND PEOP 8882220017 2921 E 17TH STREET BUILDING D 1 AUSTIN TX 78702 GUSTAVO LASALA PRESIDENT AND CEO 8882220017 2024-06-24 1 GUSTAVO LASALA 999009999 1 DORI J EGGETT P00645252 3037409400 2024-06-24 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z GUSTAVO LASALA 2921 E 17TH STREET BUILDING D 1 AUSTIN TX 78702 15793917 0 X WWW.PEOPLEFUND.ORG X 1994 TX CREATING ECONOMIC OPPORTUNITY AND FINANCIAL STABILITY FOR UNDERSERVED PEOPLE AND COMMUNITIES. 13 13 76 15 0 0 7162182 4823515 3612393 5902605 325424 377386 86467 72789 11186466 11176295 1286075 479496 0 0 4675226 5734853 0 0 626779 4399610 4991304 10360911 11205653 825555 -29358 70013078 75269243 49309435 54084657 20703643 21184586 PEOPLEFUND CREATES ECONOMIC OPPORTUNITY AND FINANCIAL STABILITY FOR UNDERSERVED PEOPLE AND COMMUNITIES BY PROVIDING ACCESS TO CAPITAL, EDUCATION, AND RESOURCES TO BUILD HEALTHY SMALL BUSINESSES. 0 0 8893964 479496 5902605 PEOPLEFUND IS A 501(C)(3) NONPROFIT CORPORATION WHOSE MISSION IS TO PROMOTE ECONOMIC VITALITY AND OPPORTUNITY IN LOW INCOME COMMUNITIES BY PROVIDING FINANCIAL SERVICES AND TECHNICAL ASSISTANCE THAT WILL: CREATE JOBS, PROVIDE NEEDED GOODS AND SERVICES, IMPROVE THE PHYSICAL ENVIRONMENT, PROMOTE DIVERSITY, ENTREPRENEURIAL SUCCESS, AND BUILD INDIVIDUAL AND COMMUNITY ASSETS. PEOPLEFUND PROVIDES FINANCING AND COMPREHENSIVE TECHNICAL ASSISTANCE SERVICES TO BUSINESSES, COMMUNITY ORGANIZATIONS, AND MICROENTERPRISES IN LOWER INCOME COMMUNITIES THROUGHOUT TEXAS. 8893964 1 1 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 42 0 1 76 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ANTHONY HEDGER 5122221014 2921 E 17TH STREET BUILDING D SUITE AUSTIN TX 78702 LUTHER BRANHAM CHAIR 1.00 0.00 X X 0 0 0 YOLANDA DAVILA CHAIR (THRU 4/17/23) 1.00 0.00 X X 0 0 0 NINA NELMS VICE CHAIR 1.00 0.00 X X 0 0 0 BRIAN HALL VICE CHAIR (THRU 4/17/23) 1.00 0.00 X X 0 0 0 ANNA SANCHEZ SECRETARY 1.00 0.00 X X 0 0 0 BETH LIPSON TREASURER 1.00 0.00 X X 0 0 0 CECILIA CASTELO DIRECTOR 1.00 0.00 X 0 0 0 LARRY MILLER DIRECTOR 1.00 0.00 X 0 0 0 JACK NELSON DIRECTOR 1.00 0.00 X 0 0 0 JOHN BURER DIRECTOR 1.00 0.00 X 0 0 0 DOROTHY CLEAVES DIRECTOR 1.00 0.00 X 0 0 0 NENA SHAH DIRECTOR 1.00 0.00 X 0 0 0 BRYAN RUBIO DIRECTOR 1.00 0.00 X 0 0 0 EUGENE SEPULVEDA DIRECTOR 1.00 0.00 X 0 0 0 MIKE MOSKOVITZ DIRECTOR 1.00 0.00 X 0 0 0 GUSTAVO LASALA PRESIDENT AND CEO 40.00 0.00 X 262243 0 19328 ANTHONY HEDGER CFO 40.00 0.00 X 208367 0 18336 JENNIFER PALECEK SVP OF PHILANTHROPIC PARTNERSHIPS 40.00 0.00 X 167125 0 13885 WILLIAM ANDERSON DIRECTOR OF LENDING 40.00 0.00 X 141043 0 14144 KRISTI ESPINO CONTROLLER 40.00 0.00 X 118901 0 14493 DAWNETTA SMITH SR DIRECTOR EDUCATION & TRAINING 40.00 0.00 X 118708 0 13249 THERESA WILSON SR DIRECTOR HUMAN RESOURCES 40.00 0.00 X 116445 0 14689 1132832 0 108124 9 0 1 0 BAIRESDEV LLC 1999 SOUTH BASCON AVE CAMPBELL TX 95008 SOFTWARE DEVELOPMENT 369536 AB GROWTH MARKETING 11105 CAP STONE DRIVE AUSTIN TX 78739 MARKETING SERVICES 126000 ALLANDALE BUSINESS 6309 TREADWELL BLVD AUSTIN TX 78757 504 BUSINESS DEVELOPMENT 118915 3 1111493 3712022 4823515 SMALL BUSINESS LENDING PROGRAM 522100 3959107 3959107 NMTC INCOME 522100 1578150 1578150 504 INCOME 522100 352824 352824 PROGRAM ADMIN FEE INCOME 522100 12524 12524 5902605 486374 486374 72789 0 72789 72789 72789 4499427 9207 4617622 0 -118195 9207 -108988 -108988 11176295 5902605 0 450175 479496 479496 508304 95808 328025 84471 4287155 3564506 539754 182895 142548 109466 25245 7837 447682 366014 60781 20887 349164 268129 61839 19196 92901 92901 115988 115988 28772 28772 558850 263905 57981 236964 133538 133538 171336 131572 30345 9419 363334 279013 64346 19975 271145 208218 48020 14907 102941 79051 18231 5659 10087 7746 1786 555 1040431 1040431 324164 248933 57409 17822 87243 66996 15451 4796 PROVISION FOR LOAN LOSS 1533314 1533314 CLOSING COSTS 131862 131862 REPAIRS & MAINTENANCE 21872 16796 3874 1202 STAFF/VOLUNTEER APPRECI 3526 2708 624 194 11205653 8893964 1684910 626779 7476610 6667774 979837 1446098 4591802 2413507 16359912 81037 175597 5563952 1860175 3336351 3703777 4976887 4498843 48317317 39761726 253237 242009 70013078 75269243 937270 1147890 562639 3366744 5711288 44754375 46427575 251046 235265 49309435 54084657 X 18920539 19482773 1783104 1701813 20703643 21184586 70013078 75269243 -29358 510301 0 X X 0 1 X 1 1 1 X 2398120 9675736 6122358 7162182 4823515 30181911 2398120 9675736 6122358 7162182 4823515 30181911 5725697 24456214 383573 315142 231989 259915 559163 1749782 31931693 26919739 0.76590 0.74190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 379880 379880 3297033 1087449 2209584 591666 527167 64499 1295373 245559 1049814 3703777 PROGRAM LOANS 39761726 F 39761726 OTHER LONG-TERM LIABILITIES 3450 LEASE LIABILITY 231815 235265 X 11657824 510301 510301 11147523 28772 28772 11176295 11176881 0 11176881 28772 28772 11205653 PART IV, LINE 2B: FROM TIME TO TIME, PEOPLEFUND WILL HOLD CASH RECEIVED IN AN AGENCY CAPACITY. THESE ASSETS REPRESENT CASH RECEIVED FROM FINANCIAL INSTITUTIONS, GOVERNMENT AGENCIES, OR NOT-FOR-PROFIT ORGANIZATIONS PEOPLEFUND IS ACTING AS AN AGENT FOR. THE CASH RECEIVED IS FOR THE ULTIMATE BENEFIT OF UNRELATED ORGANIZATIONS WHO PARTICIPATE IN PROGRAMS WHICH PEOPLEFUND HELPS ADMINISTER FUNDS FOR. THE CASH RECEIVED IS RECORDED AS AN ASSET ON THE BALANCE SHEET WITH A CORRESPONDING LIABILITY FOR THE SAME AMOUNT ALSO RECORDED. AT THE END OF 2023, THIS AMOUNT WAS $0. PART X, LINE 2: THE ORGANIZATION IS A NOT-FOR-PROFIT CORPORATION AND IS EXEMPT FROM TAX UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. 1 BIPOC GRANTS 121 479496 N/A N/A PART I, LINE 2: GRANTS TO INDIVIDUALS - THE ORGANIZATION PROVIDED SMALL BUSINESS OWNERS GRANTS FOR PEOPLEFUND'S BLACK, INDIGENOUS, PERSON OF COLOR (BIPOC) SMALL BUSINESS ACCELERATOR, A PROGRAM THAT PROVIDES BUSINESS OWNERS THE CAPITAL, RESOURCES AND NETWORK TO START AND GROW THEIR BUSINESSES AND ATTAIN ECONOMIC MOBILITY. X X 0 0 0 0 0 0 0 1 0 GUSTAVO LASALA PRESIDENT AND CEO 232760 0 29483 0 0 0 0 0 19328 0 281571 0 0 0 ANTHONY HEDGER CFO 199500 0 8867 0 0 0 0 0 18336 0 226703 0 0 0 JENNIFER PALECEK SVP OF PHILANTHROPIC PARTNERSHIPS 157500 0 9625 0 0 0 0 0 13885 0 181010 0 0 0 WILLIAM ANDERSON DIRECTOR OF LENDING 104235 0 36808 0 0 0 0 0 14144 0 155187 0 0 0 PART I, LINE 3 COMPENSATION FOR THE PRESIDENT & CEO IS DETERMINED BY THE EXECUTIVE COMMITTEE AND SUBSEQUENTLY RATIFIED BY THE BOARD USING COMPARABILITY DATA FROM SIMILAR SIZED NONPROFITS IN THE REGION. THE DECISION AND APPROVAL OF COMPENSATION IS DOCUMENTED AND MAINTAINED IN THE EMPLOYEE FILE AND IN THE BOARD/COMMITTEE MEETING MINUTES. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT & CEO USING COMPARABILITY DATA FROM SIMILAR SIZED NONPROFITS IN THE REGION. PART I, LINE 7 THE ORGANIZATION PROVIDED NON-FIXED PAYMENTS IN THE FORM OF BONUSES TO CERTAIN INDIVIDUALS REPORTED ON FORM 990, PART VII WHICH ARE DISCRETIONARY (BASED ON COMPANY AND INDIVIDUAL PERFORMANCE) AND APPROVED BY THE BOARD AND/OR CEO (AS APPROPRIATE). FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT TAX ACCOUNTANT IN CONJUNCTION WITH THE ORGANIZATION'S ACCOUNTING AND FINANCE DEPARTMENT. A DRAFT FORM 990 IS PREPARED AND REVIEWED BY THE CFO AND PRESIDENT & CEO, AND ADJUSTMENTS ARE MADE, AS NECESSARY. A COMPLETE COPY OF THE FORM 990 IS THEN REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS AND PROVIDED TO EACH VOTING MEMBER OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON (WHICH INCLUDES DIRECTORS, OFFICERS, AND KEY EMPLOYEES) MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST OR RELATIONSHIP AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST OR RELATIONSHIP, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OF COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. SHOULD AN ACTUAL CONFLICT OF INTEREST EXIST, THE CHAIRPERSON SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT AND, AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE CORPORATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. THE PROCEEDINGS ARE RECORDED IN THE BOARD OR COMMITTEE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT & CEO IS DETERMINED BY THE EXECUTIVE COMMITTEE AND SUBSEQUENTLY RATIFIED BY THE BOARD USING COMPARABILITY DATA FROM SIMILAR SIZED NONPROFITS IN THE REGION. THE DECISION AND APPROVAL OF COMPENSATION IS DOCUMENTED AND MAINTAINED IN THE EMPLOYEE FILE AND IN THE BOARD/COMMITTEE MEETING MINUTES. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT & CEO USING COMPARABILITY DATA FROM SIMILAR SIZED NONPROFITS IN THE REGION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. IN ADDITION, THE FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE ORGANIZATION'S WEBSITE (WWW.PEOPLEFUND.ORG). FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE LAST YEAR. 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