2025-08-13T19:41:33-07:00 2024-12-31 Tracy Paglia 3540 W Sahara Ave E6 Box 339 Las Vegas NV 89102 990 2024-01-01 823512608 ECONOMIC JUSTICE FUND ECON 9167584020 2014 Capitol Ave Ste 100 Sacramento CA 95811 Scott Berman CEO 9167584020 2025-08-13 1 1 Tracy Paglia P00366884 2097124426 2025-08-13 X 2024 2025-03-06 01:10:19Z X Scott Berman Same as above Sacramento CA 95811 1182496 0 X EconomicJusticeFund.org X 2017 CA To provide fair and affordable financing and financial development services for the economic empowerment of underrepresented, low-income borrowers. 5 5 1 5 0 0 500000 1099276 28166 83220 0 0 0 0 528166 1182496 0 0 0 0 29328 179070 0 0 19907 150645 360784 179973 539854 348193 642642 737573 1376524 252708 249017 484865 1127507 The Economic Justice Fund is a mission-driven Community Development Financial Institution dedicated to empowering low-income individuals, families, and entrepreneurs to achieve their dreams. We provide affordable financing solutions through innovative financial products, character-based lending, credit-building services, and an unwavering commitment to our mission. Our vision is a financial system that provides equal access to financing and opportunity for all Americans. 0 0 452546 0 83220 Through innovative financial products, character-based lending, and a deep commitment to its mission, EJF originated nearly 200 loans in 2024, of which more than 70% went directly to low-income borrowers. In 2024, EJF's three main lending initiatives and programs listed below resulted in high-impact loans that enable borrowers who do not have access to affordable financing to pay an emergency expense, pay off a predatory loan, begin entrepreneurship, and build stronger credit histories. Equitable Opportunity Loan - Provides a safe and affordable alternative to payday and predatory small-dollar loans. The Equitable Opportunity Loan offers access to financing for low-income borrowers who urgently need loans but cannot access financing from traditional lenders. Credit-Building Initiative - Empowers borrowers to establish a positive credit history as EJF reports borrower loan data to Experian, TransUnion, and Equifax. The Credit-Building Initiative offers fair and affordable loans with credit education and coaching on financial planning and budgeting. Lifeline Pandemic Recovery Initiative - Provides loans to low-income borrowers struggling to recover from the economic consequences of the pandemic and the lack of access to fair and affordable financing. Lifeline loans empower individuals and entrepreneurs to escape predatory or high-interest-rate loans and regain financial stability. 0 0 0 452546 1 1 0 0 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 CA X Scott Berman 9167584020 2014 Capitol Ave Ste 100 Sacramento CA 95811 Scott Berman CEO 40 X 136395 0 15315 Ruth Jaure President 1 X X 0 0 0 Olivia Rebanal Secretary 1 X X 0 0 0 Scott Sporte Treasurer 1 X X 0 0 0 Donna Gambrell Director 1 X 0 0 0 Abigail Suarez Director 1 X 0 0 0 136395 0 15315 1 0 1 0 0 0 0 0 1099276 0 0 1099276 Loan Interest Income 522110 83220 83220 0 0 0 0 0 0 83220 0 0 0 0 0 0 1182496 83220 0 0 161049 128838 16106 16105 0 18021 14417 1802 1802 26462 26462 3976 1976 2000 103781 103781 10508 3513 6995 20978 20978 7051 3525 3526 1704 1704 5574 5574 4660 2330 2330 Loan loss expense 168798 168798 0 0 Membership and dues 6822 4390 2432 0 Licenses 470 0 470 0 539854 452546 67401 19907 73475 228183 355000 300000 285273 840209 23825 6942 1190 737573 1376524 8994 11907 243714 237110 0 0 252708 249017 X 87111 684590 397754 442917 484865 1127507 737573 1376524 642642 X 0 1 X 1 0 X 1000 157099 109044 500000 1099276 1866419 0 0 1000 157099 109044 500000 1099276 1866419 1866419 0 0 0 1866419 146442 1 0.94308 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X 1182496 0 0 0 0 0 1182496 0 0 0 1182496 539854 0 0 0 0 0 539854 0 0 0 539854 Schedule D, Part X, Line 2 Accounting principles generally accepted in the United States of America require the Organization to evaluate tax positions held by the Organization and recognize a tax liability or asset if the Organization has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Organization management has determined that as of December 31, 2024, there are no uncertain tax positions taken or expected to be taken that would require recognition 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. The Organization is subject to income tax examinations going back to the 2021 tax year. X X 0 0 0 0 0 0 0 0 0 Scott Berman CEO 136395 0 0 0 0 0 8184 0 7131 0 151710 0 0 0 Form 990, Part VI, Section B, Line 11b All voting members on the Board of Directors will be provided with the Form 990 prior to filing and audited financial statements. The President and Treasurer review and approve the Form 990. Form 990, Part VI, Section B, Line 12c All directors, principal officers, or members of a committee with Board delegated powers are classified as interested persons. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of a financial interest and be given the opportunity to disclose all material facts to the directors and members of the committees with Board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the Board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. Procedures for addressing the Conflict of Interest include a. An interested person may make a presentation at the Board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. b. The Chairperson of the Board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. c. After exercising due diligence, the board or committee shall determine whether the Economic Justice Fund 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. d. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the Board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the Economic Justice Fund's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. To ensure the Economic Justice Fund operates in a manner consistent with its purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: a. Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. b. Whether partnerships, joint ventures, and arrangements with other organizations conform to the Economic Justice Fund's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction Form 990, Part VI, Section B, Line 15 The Board of Directors provides an independent review and approves compensation, including benefits, for the CEO. The process for determining reasonable compensation includes reviewing what similarly situated nonprofit organizations are paying for similar executive positions through market analysis of compensation data from Form 990 filings and presenting the findings to the Board of Directors. The Board of Directors is responsible for annually reviewing and approving all compensation adjustments, including benefits. Form 990, Part VI, Section C, Line 19 The audited financial statements, governing documents and conflict of interest policy will be provided upon request.