Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1977.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
90 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
24 people listed on the 990; $1.9M paid to officers and key staff.
Cathleen Mahon’s $366K as President/CEO is at the 12th percentile of top reported officer pay among 59 $100M+ public & societal benefit 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 · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Cathleen Mahon | $366,104 | $285,060 | $275,471 | $257,030 | $245,297 |
| Eben Sheaffer Thru 092025 | $271,182 | — | — | — | — |
| Pablo Defilippi | $244,891 | $212,952 | $196,304 | — | — |
| Eben Sheaffer | — | $238,314 | $225,292 | $212,457 | $203,095 |
| Pamela Owens | $208,749 | $171,436 | $153,401 | $144,228 | $136,162 |
| Silvia Rincon | $192,154 | — | — | — | — |
| Neda Arabshahi | $186,066 | $143,837 | $130,020 | $121,882 | — |
| Susanne James | — | $178,502 | — | — | — |
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
Empowers low-income communities by providing funding, training, and resources to credit unions that serve traditionally marginalized and financially underserved populations.
Questions for Inclusiv INC
Your first name shows with your question. Inclusiv INC answers here, for everyone.
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Inclusiv's center for resiliency and clean energy was created in 2019 to teach and support community-based financial institutions (credit unions, financial cooperatives, cdfi loan funds, community banks, and green banks) launching and scaling clean energy finance initiatives that enable communities to access affordable clean energy…
Inclusiv capital provides capital to member cdcus through uninsured subordinated debt loans and insured nonmember deposits.
Inclusiv offers a variety of support services to its small (under $100 million in assets) and mdi designated credit union members, which serve people and communities traditionally marginalized by the financial mainstream. Through our learning centers we provide specialized know-how to support these vital institutions' growth and impact.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $24.1M | $1.91B |
| InvestmentsLn 11–13 | $486K | $396K |
| Land, buildings, equipmentLn 10c | $198K | $139K |
| Total assetsLn 16 | $72.8M | $1.96B |
| LiabilitiesLn 26 | $47.2M | $52.1M |
| Net assetsLn 32 | $25.5M | $1.91B |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $1.5M | $1.5M | ||
| Pay of current officers, directors and key staffLn 5 | $1.9M | $1.2M | $764K | |
| Other salaries and wagesLn 7 | $4.0M | $3.6M | $238K | $123K |
| Pension plan contributionsLn 8 | $153K | $130K | $20K | $3K |
| Other employee benefitsLn 9 | $588K | $556K | $16K | $16K |
| Payroll taxesLn 10 | $412K | $338K | $65K | $9K |
| Legal feesLn 11b | $225K | $225K | ||
| Accounting feesLn 11c | $184K | $178K | $6K | |
| Other fees for servicesLn 11g | $1.9M | $1.8M | $51K | |
| Advertising and promotionLn 12 | $11K | $2K | $9K | |
| Office expensesLn 13 | $221K | $199K | $22K | |
| OccupancyLn 16 | $297K | $234K | $63K | |
| TravelLn 17 | $311K | $296K | $15K | |
| Conferences, conventions and meetingsLn 19 | $1.5M | $1.5M | $24K | |
| InterestLn 20 | $1.5M | $1.5M | ||
| Depreciation, depletion and amortizationLn 22 | $108K | $67K | $40K | |
| InsuranceLn 23 | $67K | $64K | $3K | |
| Other expenses (24a–d)Ln 24 | $119K | $119K | ||
| All other expensesLn 24e | $21K | $9K | $11K | |
| Total functional expensesLn 25 | $15.0M | $13.5M | $1.3M | $151K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $1.9B | $15.0M | $1.9B | $1.9B | 990 PDF |
| FY2023 | $11.9M | $10.1M | $1.8M | $25.5M | 990 PDF |
| FY2022 | $12.8M | $8.6M | $4.2M | $29.9M | 990 PDF |
| FY2021 | $11.7M | $7.8M | $3.8M | $25.8M | 990 PDF |
| FY2020 | $8.2M | $6.5M | $1.7M | $21.9M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $1,897,878,390 revenue, 12 lines filed
Part VI · Governance 15 of 15 board members independent, no flags
Part VIII · Statement of revenue $1,897,878,390 across 6 lines filed
Part IX · Statement of functional expenses $14,997,310 across 19 lines filed
Part X · Balance sheet $1,960,631,669 assets, 17 lines filed
Part XI · Reconciliation of net assets $1,908,536,891 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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