Nonprofit · EIN 11-3720098
RISING TIDE CAPITAL INC
Tax-exempt · JERSEY CITY, NJ 07310
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $5,538,016 | $7,615,065 | -$2,077,049 | $9,628,408 | $4,292,266 | $5,336,142 |
| December 31, 2023 | 990 | $5,047,525 | $6,920,978 | -$1,873,453 | $12,416,017 | $3,205,632 | $9,210,385 |
| December 31, 2022 | 990 (amended) | $8,164,515 | $6,423,165 | $1,741,350 | $14,713,399 | $3,975,433 | $10,737,966 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $4,426,231
- of which government grants
- $918,731
- Program service revenue
- $666,454
- Investment income
- $445,331
- Net gain from sales of assets
- $245,387
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $894,173
- Other salaries and wages
- $2,996,549
- Salaries, compensation and benefits (total)
- $4,703,469
- Professional fundraising fees
- $0
- Occupancy
- $421,503
- Travel
- $86,012
- Program services (functional)
- $6,328,636
- Management and general (functional)
- $529,531
- Fundraising (functional)
- $756,898
Balance sheet and other
- Total assets, start of year
- $12,416,017
- Total assets, end of year
- $9,628,408
- Total liabilities, end of year
- $4,292,266
- Net assets, end of year
- $5,336,142
- Land, buildings and equipment
- $4,291,332
- Net assets without donor restrictions
- $3,988,642
- Net assets with donor restrictions
- $1,347,500
- Gross receipts
- $5,627,612
- Employees
- 40
- Volunteers
- 89
- Year formed
- 2004
- State of legal domicile
- NJ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ALFA DEMMELLASH | CHIEF EXECUTIVE OFFICER Trustee or director, Officer | 40 | $267,500 | $53,992 |
| ALEX FORRESTER | CHIEF OPERATING OFFICER Officer | 40 | $245,452 | $59,383 |
| JOYNICOLE MARTINEZ | CHIEF ADVANCEMENT OFFICER Officer | 40 | $228,333 | $39,502 |
| LOUISA COUSINS | SENIOR DIRECTOR OF ANALYTICS & INFOR Highest-paid employee | 40 | $147,009 | $48,123 |
| KRIS VAN NEST | EXECUTIVE PRODUCER OF DIGITAL LEARNI Highest-paid employee | 40 | $149,648 | $38,687 |
| SAMIRA COOK | MANAGING DIRECTOR OF STRATEGIC PARTNERSHIPS Highest-paid employee | 40 | $140,347 | $47,233 |
| CHRIS BREITENBERG | DIRECTOR - NPP Highest-paid employee | 40 | $132,426 | $45,900 |
| MAURICE KUYKENDOLL | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| JOE MASTERSON | VICE CHAIR & SECRETARY OF THE BOARD Trustee or director, Officer | 2 | $0 | $0 |
| ANAND DEVENDRAN | FINANCE AND AUDIT COMMITTEE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| ANDRE DUGGIN | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| ANGELO STRACQUATANIO | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| JEFFREY ROBINSON | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| KIRAN HANDA GUADIOSO | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| PRESTON PINKETT | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| AICHA BALLA | CHAIR Trustee or director | 2 | $0 |
| KRISTEN SHARP | BOARD MEMBER Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ALFA DEMMELLASH | CHIEF EXECUTIVE OFFICER Trustee or director, Officer | 40 | $250,833 | $80,529 |
| ALEX FORRESTER | CHIEF OPERATING OFFICER Officer | 40 | $230,833 | $84,992 |
| JOYNICOLE MARTINEZ | CHIEF ADVANCEMENT OFFICER Officer | 40 | $201,062 | $70,007 |
| LOUISA COUSINS | SENIOR DIRECTOR OF ANALYTICS & INFOR Highest-paid employee | 40 | $145,475 | $72,397 |
| CHRIS BREITENBERG | DIRECTOR - NPP Highest-paid employee | 40 | $141,750 | $68,803 |
| JAMIE RUDOLPH | DIRECTOR OF DEVELOPMENT Highest-paid employee | 40 | $135,338 | $69,288 |
| SAMIRA COOK | MANAGING DIRECTOR OF STRATEGIC PARTNERSHIPS Highest-paid employee | 40 | $136,344 | $65,678 |
| KRIS VAN NEST | EXECUTIVE PRODUCER OF DIGITAL LEARNI Highest-paid employee | 40 | $142,643 | $44,732 |
| MAURICE KUYKENDOLL | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| JOE MASTERSON | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| ANAND DEVENDRAN | VICE CHAIR/CHAIR OF AUDIT AND FINANCE COMMITTEE Trustee or director, Officer | 2 | $0 | $0 |
| ANDRE DUGGIN | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| ANGELO STRACQUATANIO | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| JEFFREY ROBINSON | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| KIRAN HANDA GUADIOSO | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| PRESTON PINKETT | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| AICHA BALLA | CHAIR Trustee or director | 2 | $0 | $0 |
| KRISTEN SHARP | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2022: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ALFA DEMMELLASH | CHIEF EXECUTIVE OFFICER Trustee or director, Officer | 40 | $250,000 | $21,400 |
| ALEX FORRESTER | CHIEF OPERATING OFFICER Officer | 40 | $229,352 | $27,716 |
| MOSES ADEGBOYEGA | CHIEF FINANCE AND ADMINISTRATION OFF Trustee or director, Officer | 40 | $149,927 | $24,778 |
| JOYNICOLE MARTINEZ | CHIEF ADVANCEMENT OFFICER Officer | 40 | $160,586 | $6,396 |
| SAMIRA COOK | MANAGING DIRECTOR OF STRATEGIC PARTNERSHIPS Highest-paid employee | 40 | $141,972 | $24,317 |
| LOUISA COUSINS | SENIOR DIRECTOR OF ANALYTICS & INFOR Highest-paid employee | 40 | $134,352 | $23,876 |
| KRIS VAN NEST | EXECUTIVE PRODUCER OF DIGITAL LEARNI Highest-paid employee | 40 | $136,879 | $14,891 |
| JOSEPH SAVULICH | MANAGING DIRECTOR OF MISSION VENTURE Highest-paid employee | 40 | $130,517 | $16,865 |
| JAMIE RUDOLPH | DIRECTOR OF DEVELOPMENT Highest-paid employee | 40 | $114,272 | $21,997 |
| ANDREA GEROLDI | CHIEF OF STAFF Officer | 40 | $72,433 | $4,450 |
| DOUG FORRESTER | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| MAURICE KUYKENDOLL | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| ANAND DEVENDRAN | COMMITTEE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| MATTHEW BARNES | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| ALEJANDRO ROS | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| AICHA BALLA | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| KRISTEN SHARP | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| JOE MASTERSON | SECRETARY Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 111 TOWN SQUARE PL PMB 56701, JERSEY CITY, NJ 07310-1755
- Principal officer (990 for 2024)
- ALEX FORRESTER, 111 TOWN SQUARE PL PMB 56701, JERSEY CITY, NJ 073101810
- Signed the 990
- DR JOYNICOLE MARTINEZ, CHIEF ADVANCEMENT OFFICER
- Phone
- (201) 432-4316
- Website
- WWW.RISINGTIDECAPITAL.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
RISING TIDE CAPITAL INC. IS A NON-PROFIT ORGANIZATION WHOSE MISSION IS TO TRANSFORM LIVES AND COMMUNITIES THROUGH ENTREPRENEURSHIP. RISING TIDE AIMS TO EXPAND ITS PROVEN MODEL AND PROGRAMS TO SERVE MORE ECONOMICALLY CHALLENGED INDIVIDUALS AND FAMILIES FOR WHOM ENTREPRENEURSHIP REPRESENTS AN IMPORTANT OPPORTUNITY FOR RESILIENCE, GROWTH, STABILITY, AND INCOME GENERATION. WE ARE DRIVEN BY A VISION OF STRONG COMMUNITIES OF RESILIENT ENTREPRENEURS CATALYZING A THRIVING AND SUSTAINABLE ECONOMY FOR ALL.
Program accomplishments
- RISING TIDE CAPITAL MARKED A TRANSFORMATIVE YEAR IN 2024, CELEBRATING ITS 20TH ANNIVERSARY WHILE ACHIEVING SIGNIFICANT MILESTONES IN ENTREPRENEURIAL SUPPORT AND COMMUNITY DEVELOPMENT. THROUGH THE RISING TIDE NETWORK, THE ORGANIZATION NOW OPERATES IN 18 LOCATIONS ACROSS 15 STATES, HAVING SUPPORTED OVER 11,000 ENTREPRENEURS SINCE ITS FOUNDING.RISING TIDE CAPITAL AND THE RISING TIDE NETWORK PROVIDED INTENSIVE BUSINESS MANAGEMENT TRAINING & EDUCATION WITH ACCESS TO CAPITAL AND COACHING SERVICES TO OVER 2,100 ENTREPRENEURS DURING 2024. 494 PEOPLE PARTICIPATED IN OUR COMMUNITY BUSINESS ACADEMY, 550 PEOPLE RECEIVED ADVANCED TECHNICAL SUPPORT AND COACHING THROUGH OUR BUSINESS ACCELERATION SERVICES PROGRAM (A 31% INCREASE FROM 2023), AND 230 PEOPLE RECEIVED CREDIT COUNSELING, LOAN PACKAGING, AND ACCESS TO CAPITAL SERVICES THROUGH OUR CREDIT TO CAPITAL PROGRAM, WITH COACHING HOURS INCREASING BY 377% TO 1,831 HOURS.DURING 2024 THESE EFFORTS RESULTED IN 70 NEW BUSINESS STARTS (89% INCREASE FROM 2023), 550 BUSINESSES STRENGTHENED/STABILIZED (26% INCREASE), 331 BUSINESSES EXPANDED (82% INCREASE), AND THE CREATION OF 325 NEW JOBS, REPRESENTING A 55% INCREASE IN JOB CREATION FROM THE PREVIOUS YEAR.WITH PROGRAM GRADUATES ACHIEVING AN 81% BUSINESS SURVIVAL RATE BEYOND FIVE YEARSSIGNIFICANTLY OUTPERFORMING THE 50% NATIONAL AVERAGE ALONGSIDE RISING TIDE CAPITAL'S PROVEN IMPACT IN GENERATING $5.89 IN SOCIAL VALUE FOR EVERY $1 INVESTED RISING TIDE CAPITAL CONTINUES TO DEMONSTRATE THAT ENTREPRENEURSHIP IS A POWERFUL CATALYST FOR ECONOMIC MOBILITY AND COMMUNITY TRANSFORMATION.Expenses $6,328,636 · revenue $666,454
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 11-3720098
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2005
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S41)
- Assets (IRS master file)
- $9,628,408
- Income (IRS master file)
- $5,627,612
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $5,538,016 | $7,615,065 | $9,628,408 | XML |
| 990 | December 2023 | $5,047,525 | $6,920,978 | $12,416,017 | XML |
| 990 | December 2022 | $8,164,515 | $6,423,165 | $14,713,399 | XML |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 11-3720098).
Questions about RISING TIDE CAPITAL INC
- What is the EIN of RISING TIDE CAPITAL INC?
- The employer identification number (EIN) of RISING TIDE CAPITAL INC is 11-3720098.
- Is RISING TIDE CAPITAL INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2005.
- Are donations to RISING TIDE CAPITAL INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does RISING TIDE CAPITAL INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of RISING TIDE CAPITAL INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RISING TIDE CAPITAL INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of RISING TIDE CAPITAL INC?
- The 990 for the year ended December 31, 2024 names ALEX FORRESTER.
- Who are the officers and directors of RISING TIDE CAPITAL INC?
- The 990 for the year ended December 31, 2024 lists 17 people; 7 received compensation from the organization, the highest $267,500 (ALFA DEMMELLASH, CHIEF EXECUTIVE OFFICER).
- How much revenue does RISING TIDE CAPITAL INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $5,538,016, expenses of $7,615,065 and total assets of $9,628,408 at year end.
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