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
87 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; $1.1M 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
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INCLUSIV/BLACK communities, including the resilience fund. INCLUSIV/BLACK communities is a program for small and faith-based credit unions serving predominantly african american communities. The resilience fund is a grant fund to support credit unions serving communities of color disproportionately affected by the coronavirus pandemic.
Inclusiv capital provides capital to member cdcus through uninsured subordinated debt loans and insured non-member deposits.
Cdcu mortgage center LLC is a wholly owned subsidiary established to purchase affordable mortgages from member credit unions, enabling them to recycle their capital, manage their balance sheets, and make new loans.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $9.0M | $12.2M |
| InvestmentsLn 11–13 | $322K | $323K |
| Land, buildings, equipmentLn 10c | $478K | $403K |
| Total assetsLn 16 | $45.2M | $52.0M |
| LiabilitiesLn 26 | $25.8M | $30.1M |
| Net assetsLn 32 | $19.3M | $21.9M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $680K | $680K | ||
| Pay of current officers, directors and key staffLn 5 | $677K | $622K | $39K | $16K |
| Other salaries and wagesLn 7 | $1.8M | $1.4M | $400K | $3K |
| Pension plan contributionsLn 8 | $43K | $33K | $11K | $83 |
| Other employee benefitsLn 9 | $220K | $176K | $43K | $303 |
| Payroll taxesLn 10 | $201K | $165K | $35K | $1K |
| Legal feesLn 11b | $10K | $10K | ||
| Accounting feesLn 11c | $48K | $48K | ||
| Other fees for servicesLn 11g | $836K | $745K | $66K | $24K |
| Office expensesLn 13 | $156K | $101K | $54K | $686 |
| Information technologyLn 14 | $357K | $357K | ||
| OccupancyLn 16 | $321K | $220K | $98K | $2K |
| TravelLn 17 | $48K | $27K | $20K | |
| Conferences, conventions and meetingsLn 19 | $43K | $36K | $3K | $4K |
| InterestLn 20 | $711K | $711K | ||
| Depreciation, depletion and amortizationLn 22 | $100K | $81K | $19K | $373 |
| InsuranceLn 23 | $6K | $6K | $325 | |
| Other expenses (24a–d)Ln 24 | $263K | $256K | $6K | $557 |
| Total functional expensesLn 25 | $6.5M | $5.6M | $794K | $52K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $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 Viewing | $8.2M | $6.5M | $1.7M | $21.9M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $8,231,612 revenue, 12 lines filed
Part VI · Governance 17 of 17 board members independent, no flags
Part VIII · Statement of revenue $8,231,612 across 5 lines filed
Part IX · Statement of functional expenses $6,486,141 across 18 lines filed
Part X · Balance sheet $51,995,198 assets, 17 lines filed
Part XI · Reconciliation of net assets $21,917,945 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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