Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2001.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
82 cents of each dollar spent went to programs.
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
19 people listed on the 990; $349K paid to officers and key staff.
Kim Hawkins’s $225K as President & CEO is at the 73rd percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 3 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Kim Hawkins | $225,069 | $242,493 | $220,524 | $220,317 | $182,532 |
| Fernando Rosa | — | — | — | — | $194,003 |
| Patricia Geronimo | $158,555 | $135,362 | $128,439 | $126,891 | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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
Promotes economic growth through organized initiatives.
Questions for Hedco INC
Your first name shows with your question. Hedco INC answers here, for everyone.
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Loan programs provide small business clientele with access to capital needs that would be otherwise un-met or under-served. These loan programs also provide hope and opportunity for people to realize their dream business, create financial freedom and contribute to their communities through job creations and needed services.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $16.6M | $15.1M |
| InvestmentsLn 11–13 | $1.8M | $1.8M |
| Land, buildings, equipmentLn 10c | $80K | $50K |
| Total assetsLn 16 | $31.6M | $35.6M |
| LiabilitiesLn 26 | $10.9M | $15.2M |
| Net assetsLn 32 | $20.6M | $20.4M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $508K | $508K | ||
| Pay of current officers, directors and key staffLn 5 | $419K | $345K | $74K | |
| Other salaries and wagesLn 7 | $672K | $541K | $117K | $15K |
| Pension plan contributionsLn 8 | $45K | $36K | $8K | $605 |
| Other employee benefitsLn 9 | $118K | $96K | $21K | $2K |
| Payroll taxesLn 10 | $77K | $63K | $14K | $1K |
| Legal feesLn 11b | $31K | $17K | $14K | |
| Accounting feesLn 11c | $49K | $27K | $22K | |
| Other fees for servicesLn 11g | $286K | $155K | $131K | |
| Advertising and promotionLn 12 | $21K | $18K | $3K | |
| Office expensesLn 13 | $107K | $72K | $36K | |
| Information technologyLn 14 | $29K | $16K | $13K | |
| OccupancyLn 16 | $248K | $165K | $83K | |
| InterestLn 20 | $17K | $15K | $2K | |
| Depreciation, depletion and amortizationLn 22 | $32K | $28K | $4K | |
| InsuranceLn 23 | $15K | $13K | $2K | |
| Other expenses (24a–d)Ln 24 | $478K | $466K | $2K | $10K |
| Total functional expensesLn 25 | $3.2M | $2.6M | $546K | $28K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $4.0M | $4.8M | −$811K | $18.9M | 990 PDF |
| FY2024 | $4.9M | $5.7M | −$807K | $19.6M | 990 PDF |
| FY2023 Viewing | $4.5M | $3.2M | $1.3M | $20.4M | 990 PDF |
| FY2022 | $3.2M | $3.6M | −$408K | $20.6M | 990 PDF |
| FY2021 | $7.6M | $6.2M | $1.5M | $21.2M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $4,502,536 revenue, 12 lines filed
Part VI · Governance 18 of 19 board members independent, no flags
Part VIII · Statement of revenue $4,502,536 across 6 lines filed
Part IX · Statement of functional expenses $3,152,945 across 17 lines filed
Part X · Balance sheet $35,604,811 assets, 16 lines filed
Part XI · Reconciliation of net assets $20,418,674 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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