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Border Financial Resources INC FY2023 filing

Tax-deductible

San Luis, AZ501(c)(3)Community Development EIN 04-3835569Revenue $171K in FY2023

On file with the IRScomiteaz.comPo Box 7170, 85349-6807 · San Luis, AZTax-exempt since Jul 2007Publicly supported charity — 170(b)(1)(A)(vi)

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Provide loans to small businesses and consumer and mortgage loans to low and moderate income families.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $10K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
18 mo
of spending, in cash
Looks good: 18.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$402K
48% of total assets
Looks good: liabilities are 48% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$171K
-33% vs prior year
Spent
$273K
To programs
80%
Net assets
$431K
By yearFY2020–FY2024
Revenue
$171K
FY2023▼ -33%
Tap a bar for its year
Revenue by fiscal year
FY2020$236K
FY2021$355K
FY2022$256K
FY2023$171K
FY2024$230K
Expenses
$273K
FY2023▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$180K
FY2021$193K
FY2022$228K
FY2023$273K
FY2024$324K
Net assets
$431K
FY2023▼ -19%
Tap a bar for its year
Net assets by fiscal year
FY2020$342K
FY2021$505K
FY2022$533K
FY2023$431K
FY2024$337K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $218K Management & general 20% · $55K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Hector Sanchez
Vice-Chairman
$0Pt VII · Sec A
Carmen Ortiz
Treasurer
$0Pt VII · Sec A
Claudia Gomez
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Marco Antonio Reyes
Executive Director
$0Pt VII · Sec A
See Border Financial Resources INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Lends money to small businesses and families for homes and daily needs.

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Provided by the organization

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1 program · $218K · in their own filed words · FY2023
01

Provided consumer loans, home improvement loans and financing for start-ups or small businesses owned by low-to-moderate income families in yuma county, arizona.

$218Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$171K
Ln 12
Gifts and grantsLn 1h$125K
Investment incomeLn 3$38K
Fees for servicesLn 2g$8K
Money outPt IX
$273K
Ln 25
Programscol B$218K
Managementcol C$55K
Owns and owesPt X
$431K
net assets · Ln 32
Cash and savingsLn 1–2$413K
Total assetsLn 16$833K
LiabilitiesLn 26$402K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$125K
Fees for servicesLn 2g$8K
Investment incomeLn 3$38K
Total revenueLn 12$171K
Assets in detailPt X, end of year
CashLn 1$157K
SavingsLn 2$256K
Cash and savings togetherLn 1–2$413K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$833K
LiabilitiesLn 26$402K
Net assetsLn 32$431K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$437K$413K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$844K$833K
LiabilitiesLn 26$312K$402K
Net assetsLn 32$533K$431K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$135K$108K$27K
Pension plan contributionsLn 8$5K$4K$992
Other employee benefitsLn 9$30K$24K$6K
Payroll taxesLn 10$9K$7K$2K
Legal feesLn 11b$1K$940$235
Accounting feesLn 11c$15K$12K$3K
Other fees for servicesLn 11g$32K$25K$6K
Advertising and promotionLn 12$3K$2K$510
Office expensesLn 13$4K$3K$721
Information technologyLn 14$401$321$80
OccupancyLn 16$5K$4K$992
Conferences, conventions and meetingsLn 19$417$334$83
InterestLn 20$4K$3K$778
InsuranceLn 23$5K$4K$1K
Other expenses (24a–d)Ln 24$25K$20K$5K
Total functional expensesLn 25$273K$218K$55K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $230K$324K−$94K$337K 990 PDF
FY2023 Viewing $171K$273K−$101K$431K 990 PDF
FY2022 $256K$228K$28K$533K 990 PDF
FY2021 $355K$193K$163K$505K 990 PDF
FY2020 $236K$180K$57K$342K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $171,471 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $217,129$125,000
I-9 Program service revenuePrior year $8,044$8,313
I-10 Investment incomePrior year $30,842$38,158
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $256,015$171,471
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $156,378$178,762
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $72,001$93,786
I-18 Total expensesPrior year $228,379$272,548
I-19 Revenue less expensesPrior year $27,636−$101,077
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $171,471 across 5 lines filed
VIII-1f All other contributions, gifts and grants$125,000
VIII-1h Total contributions, gifts and grants$125,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $8,313$8,313
VIII-3 Investment incomeRelated to mission $38,158$38,158
VIII-12 Total revenueRelated to mission $46,471 · Unrelated business $0 · Excluded from tax $0$171,471
Part IX · Statement of functional expenses $272,548 across 15 lines filed
IX-7 Other salaries and wagesPrograms $107,663 · Management $26,916$134,579
IX-8 Pension plan contributionsPrograms $3,970 · Management $992$4,962
IX-9 Other employee benefitsPrograms $24,389 · Management $6,097$30,486
IX-10 Payroll taxesPrograms $6,988 · Management $1,747$8,735
IX-11b Legal feesPrograms $940 · Management $235$1,175
IX-11c Accounting feesPrograms $12,320 · Management $3,080$15,400
IX-11g Other fees for servicesPrograms $25,207 · Management $6,302$31,509
IX-12 Advertising and promotionPrograms $2,041 · Management $510$2,551
IX-13 Office expensesPrograms $2,882 · Management $721$3,603
IX-14 Information technologyPrograms $321 · Management $80$401
IX-16 OccupancyPrograms $3,969 · Management $992$4,961
IX-19 Conferences, conventions and meetingsPrograms $334 · Management $83$417
IX-20 InterestPrograms $3,114 · Management $778$3,892
IX-23 InsurancePrograms $4,001 · Management $1,000$5,001
IX-24 Other expenses (24a–d)Programs $19,900 · Management $4,976$24,876
IX-25 Total functional expensesPrograms $218,039 · Management $54,509 · Fundraising $0$272,548
Part X · Balance sheet $833,353 assets, 14 lines filed
Asset lines not itemized here account for $418,157; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $71,921$156,938
X-2 Savings and temporary cash investmentsStart of year $365,186$255,847
X-4 Accounts receivableStart of year $1,760$2,066
X-9 Prepaid expenses and deferred chargesStart of year $345$345
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $844,130$833,353
X-17 Accounts payable and accrued expensesStart of year $857$5,761
X-24 Unsecured notes and loans payableStart of year $80,000$80,000
X-25 Other liabilitiesStart of year $230,764$316,160
X-26 Total liabilitiesStart of year $311,621$401,921
X-27 Net assets without donor restrictionsStart of year $342,994$329,939
X-28 Net assets with donor restrictionsStart of year $189,515$101,493
X-32 Total net assets or fund balancesStart of year $532,509$431,432
X-33 Total liabilities and net assetsStart of year $844,130$833,353
Part XI · Reconciliation of net assets $431,432 net assets at year end
XI-1 Total revenue$171,471
XI-2 Total expenses$272,548
XI-3 Revenue less expenses−$101,077
XI-4 Net assets at start of year$532,509
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$431,432

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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