Nonprofit · EIN 46-2986750
ACTS LENDING INC
Tax-exempt · MILWAUKEE, WI 53202
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $9,717,402 | $690,780 | $9,026,622 | $19,546,993 | $6,014,524 | $13,532,469 |
| December 31, 2023 | 990 | $1,531,192 | $505,922 | $1,025,270 | $9,092,830 | $4,586,983 | $4,505,847 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $9,256,082
- of which government grants
- $41,000
- Program service revenue
- $443,284
- Investment income
- $18,004
- Other revenue
- $32
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $16,595
- Other salaries and wages
- $188,878
- Salaries, compensation and benefits (total)
- $250,285
- Professional fundraising fees
- $0
- Accounting fees
- $57,891
- Occupancy
- $1,647
- Travel
- $305
- Program services (functional)
- $526,436
- Management and general (functional)
- $113,549
- Fundraising (functional)
- $50,795
Balance sheet and other
- Total assets, start of year
- $9,092,830
- Total assets, end of year
- $19,546,993
- Total liabilities, end of year
- $6,014,524
- Net assets, end of year
- $13,532,469
- Net assets without donor restrictions
- $5,770,429
- Net assets with donor restrictions
- $7,762,040
- Gross receipts
- $9,717,402
- Employees
- 0
- Volunteers
- 25
- Year formed
- 2013
- State of legal domicile
- WI
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 | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MICHAEL GOSMAN | PRESIDENT & CEO Officer | 3 | $0 | $192,167 | $78,612 |
| DOROTHY YORK | VP REAL ESTATE Highest-paid employee | 0 | $0 | $134,881 | $16,848 |
| DEATRA KEMP | VP PROGRAMS Highest-paid employee | 3 | $0 | $114,999 | $24,416 |
| KELLY ANDREW | VP STRATEGIC PARTNERSHIPS Highest-paid employee | 9 | $0 | $124,411 | $14,163 |
| HEATHER RAMIREZ | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ANTHONY FRANDA | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DOUG LEVY | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RAE JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MARC PERRY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| OSCAR TOVAR | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MICHAEL GOSMAN | PRESIDENT & CEO Officer | 3 | $0 | $196,948 | $39,077 |
| DOROTHY YORK | VP REAL ESTATE Highest-paid employee | 0 | $0 | $129,880 | $15,814 |
| KELLY ANDREW | VP STRATEGIC PARTNERSHIPS Highest-paid employee | 9 | $0 | $118,469 | $17,034 |
| DEATRA KEMP | VP PROGRAMS Highest-paid employee | 3 | $0 | $100,989 | $22,209 |
| HEATHER RAMIREZ | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ANTHONY FRANDA | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DOUG LEVY | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RAE JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ANTHONY MCHENRY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| OSCAR TOVAR | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 270 E KILBOURN AVE STE 5, MILWAUKEE, WI 53202-3889
- Principal officer (990 for 2024)
- MICHAEL GOSMAN, 270 E KILBOURN AVE 5TH FLOOR, MILWAUKEE, WI 53202
- Signed the 990
- MICHAEL GOSMAN, PRESIDENT & CEO
- Phone
- (414) 933-2215
- Website
- ACTSHOUSING.ORG
- Return prepared by
- RITZ HOLMAN LLP
Mission
ACTS LENDING, INC.'S MISSION IS EMPOWERMENT THROUGH HOMEOWNERSHIP.
Program accomplishments
- ACTS LENDING, INC., PROMOTES AFFORDABLE HOMEOWNERSHIP BY UNDERWRITING, ORIGINATING AND SERVICING LOANS FOR FAMILIES THAT CANNOT ACCESS TRADITIONAL LENDING PRODUCTS. LOANS ARE OUTSTANDING TO 172 INDIVIDUALS/FAMILIES AND THE PORTFOLIO HAS 90+ DAY DELINQUENCIES OF LESS THAN 5% OF THE PORTFOLIO AS OF DECEMBER 31, 2024.Expenses $526,436 · revenue $443,316
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
- 46-2986750
- 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
- 2014
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L30)
- Assets (IRS master file)
- $19,546,993
- Income (IRS master file)
- $9,717,402
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $9,717,402 | $690,780 | $19,546,993 | XML |
| 990 | December 2023 | $1,531,192 | $505,922 | $9,092,830 | XML |
| 990 | December 2022 | $584,182 | $325,405 | $7,584,619 | IRS |
| 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 46-2986750).
Questions about ACTS LENDING INC
- What is the EIN of ACTS LENDING INC?
- The employer identification number (EIN) of ACTS LENDING INC is 46-2986750.
- Is ACTS LENDING INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
- Are donations to ACTS LENDING INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ACTS LENDING 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 ACTS LENDING 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 ACTS LENDING 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 ACTS LENDING INC?
- The 990 for the year ended December 31, 2024 names MICHAEL GOSMAN.
- Who are the officers and directors of ACTS LENDING INC?
- The 990 for the year ended December 31, 2024 lists 10 people; 0 received compensation from the organization.
- How much revenue does ACTS LENDING INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $9,717,402, expenses of $690,780 and total assets of $19,546,993 at year end.
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