Amplify Equity INC EIN 16-1568466 Form 990 (PDF) Claim this org

Amplify Equity INC FY2022 filing

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Empowers underserved communities with financial education and access to affordable loans. For fiscal year 2022 it reported $325K in revenue, $920K in expenses, and $95K in net assets.Pt I

Type
Public charity (501(c)(3)) · Community Development
Location
Elmira, NY
Website
www.alternatives.org
Filings
5 on file (2020–2022)
Revenue
$325KFY2022
Expenses
$920K
Net assets
$95K
People
6
Filings
5
Updates
0
More identity details & actions ⌄
EIN  16-1568466 Public charity (501(c)(3)) Elmira, NY
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Empowers underserved communities with financial education and access to affordable loans.
Leadership
Lindsay Wolf · Executive Director · $38K
Money in and out
$325K revenue, $920K expenses
Bottom line
97% program efficiency
Where the money goes · FY2022
Total revenue
$325K
Pt VIII · Ln 12
Total expenses
$920K
Pt IX · Ln 25
Net assets
$95K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$595K
Where spending went · Part IX cols B–D
Program services $0.97 Management & general $0.03
Program efficiency
97%
of spending reaches programs
Operating runway
4.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
-183%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$325K
FY2022▲ +53%
Expenses
$920K
FY2022▲ +193%
Total assets
$397K
FY2022▼ -64%
Total liabilities
$302K
FY2022▼ -19%
Total revenue
$325K
Pt VIII · Ln 12
Total expenses
$920K
Pt IX · Ln 25
Net assets
$95K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$595K
Total assetsPt X · Ln 16$397K
Program-expense ratioPt IX · col B97%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAmplify Equity INC
EINHdr · item D16-1568466
Principal addressHdr · item CElmira, NY
WebsiteHdr · item Jwww.alternatives.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S30)
Ruling yearIRS BMFSep 1999

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$37,604Pt VII · Sec A
Treasurer/Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Member
$0Pt VII · Sec A
$0Pt VII · Sec A

Lindsay Wolf’s $84K as Executive Director is at the 61st percentile of top reported officer pay among 1710 $100K–1M 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022
Lindsay Wolf$84,483$69,264$37,604

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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Mission & Programs · Part III

Where the work happens

3 program services account for $828K of program spending, described in the organization's own filed words · FY2022.
01

Individual Development Accounts

Individual development accounts is an asset-building program whereby the savings of low-income participants are matched to provide assistance in paying for home ownership or small business support.

$597Kprogram expense
02

Re-imagining inclusive solutions for entrepreneurs (rise)this program provides access to affordable financing, combined with training and technical assistance, to low-income small business owners who are traditionally turned away from mainstream financial institutions.

$207Kprogram expense
03

Vita Tax Preparation

Vita-tax program partnership with irs - 1,535 returns processed in 2022.

$24Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$323K · 99%
Investment income$2K · 1%
Contributions & grants99%$323K
Investment income1%$2K
— government grantsLn 1e$215K
Total revenueLn 12$325K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.97 Management & general $0.03
Program services97%$889K
Management & general3%$31K
Total functional expensesLn 25$920K

Balance Sheet

Part X · end of year
CashLn 1$348K
Total assetsLn 16$397K
Total liabilitiesLn 26$302K
Total net assetsLn 32$95K
Months of cash on handcomputed4.5

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $348K · Operating expenses/yr $920K
4.5 months
Where the money goes
Program services
Program services $889K · Total expenses $920K
97%
Management & General
Management & general $31K · Total expenses $920K
3%
Fundraising
Fundraising $0 · Total expenses $920K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $378K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $323K · Total revenue $325K
99%
Government reliance
Government grants $215K · Total revenue $325K
66%
Earned-income share
Program service revenue $0 · Total revenue $325K
0%
Investment reliance
Investment income $2K · Total revenue $325K
+0.7%
Program self-sufficiency
Program service revenue $0 · Total expenses $920K
0%
Growth & trend
Revenue growth (YoY)
This year $325K · Prior year $212K
+53%
Net-asset trend (YoY)
End of year $95K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $325K · Expenses $920K
-183%
Liabilities-to-Assets
Total liabilities — · Total assets $397K
Net-asset ratio
Net assets $95K · Total assets $397K
24%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $397K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Lindsay Wolf · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $38K · Total expenses $920K
4%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $60K · Total expenses $920K
7%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 97%
Overhead ratio 3%
Fundraising cost ratio 0%
Revenue growth 53%
Accounting fee ratio 0.5%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 3 funders →
Grants paid · 14 grants · $749K · 2020–2022
Alternatives Federal Credit UnionFY2022$371,590
Unitemized GrantFY2022$120,400
Unitemized GrantFY2022$39,782
Unitemized GrantFY2022$37,299
Unitemized GrantFY2022$29,599
Unitemized GrantFY2022$11,000
Unitemized GrantFY2022$9,968
Unitemized GrantFY2022$251
Unitemized GrantFY2021$80,000
Unitemized GrantFY2021$21,800
Unitemized GrantFY2021$8,000
Unitemized GrantFY2021$3,310
Unitemized GrantFY2021$2,000
Unitemized GrantFY2020$13,850

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$355K revenue · ⤓ 990 PDF
FY2023$147K revenue · ⤓ 990 PDF
FY2022$325K revenue · viewing · ⤓ 990 PDF
FY2021$212K revenue · ⤓ 990 PDF
FY2020$1.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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