Ica Fund: FY2020 Nonprofit Profile & Form 990 (EIN 47-0898054)

Allison Kelly’s $317K as Chief Executive Officer is at the 88th 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 · 8 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Allison Kelly	$316,945	$297,486	$268,853	$237,333	$144,667
John Gough	$230,778	$226,845	$233,281	$208,394	—
Dennise Estrada	$231,000	$216,690	$82,403	—	—
Dianna Tremblay	$229,883	$218,855	$198,050	—	—
Diana Tremblay	—	—	—	$161,634	$98,486
Daniel Lee	—	—	$161,472	$159,168	—
Yui Ueno	—	$156,782	$141,388	$130,680	$100,888
Caron Gugssa-Howard	$144,452	$127,199	$103,792	$110,252	—

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

Connects entrepreneurs with coaching, capital, and networks to grow Bay Area businesses.

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Provided by the organization

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2 programs · $2.6M · in their own filed words · FY2020

01

ICA.FUND has 89 small businesses served through education offerings and 231 hours of advising hours provided to small BUSINESSES.EFFECTIVE 11/17/2020, inner city advisors and fund good jobs, inc. Merged into one single organization and designated ICA.FUND as the surviving entity.

$2.3Mprogram expense

02

3 new equity investment, 3 portfolio companies supported, 30 rapid response liquidity fund emergency loans deployed to small businesses.

$258Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2024

The New World FoundationFY2024$1.3M

Jpmorgan Chase FoundationFY2024$500K

Crankstart FoundationFY2024$500K

Citi FoundationFY2024$400K

The Aspen Institute INCFY2024$166K

S H Cowell FoundationFY2024$35K

Charities Aid Foundation AmericaFY2024$30K

Amalgamated Charitable Foundation INCFY2024$25K

Total grants receivedfrom 9 funders$3.0M

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By the numbers

The FY2020 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$5.7M

Ln 12

Gifts and grantsLn 1h$5.6M

Fees for servicesLn 2g$120K

Other incomeLn 4–11$8K

Money outPt IX

$3.1M

Ln 25

Programscol B$2.6M

Managementcol C$225K

Fundraisingcol D$339K

Owns and owesPt X

$6.6M

net assets · Ln 32

Cash and savingsLn 1–2$3.6M

Total assetsLn 16$8.6M

LiabilitiesLn 26$2.0M

PeoplePt VI, VII

16

listed · VII A

PaidVII A4

Voting boardVI 1a12

IndependentVI 1b12

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$5.6M

Fees for servicesLn 2g$120K

Other incomeLn 4–11$8K

Total revenueLn 12$5.7M

Assets in detailPt X, end of year

CashLn 1$52K

SavingsLn 2$3.6M

Cash and savings togetherLn 1–2$3.6M

InvestmentsLn 11–13$4.3M

Land, buildings, equipmentLn 10c$0

Other assetsLn 15$55K

Total assetsLn 16$8.6M

LiabilitiesLn 26$2.0M

Net assetsLn 32$6.6M

OperationsPt I, VI

EmployeesI 516

VolunteersI 631

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

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$1.2M	$3.6M
InvestmentsLn 11–13	$9K	$4.3M
Land, buildings, equipmentLn 10c	$2K	$0
Total assetsLn 16	$4.1M	$8.6M
LiabilitiesLn 26	$1.7M	$2.0M
Net assetsLn 32	$2.3M	$6.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$192K	$144K	$10K	$38K
Other salaries and wagesLn 7	$1.1M	$792K	$55K	$209K
Pension plan contributionsLn 8	$31K	$24K	$2K	$5K
Other employee benefitsLn 9	$109K	$83K	$9K	$17K
Payroll taxesLn 10	$103K	$78K	$8K	$16K
Legal feesLn 11b	$26K	$22K	$3K
Accounting feesLn 11c	$67K	$7K	$54K	$7K
Other fees for servicesLn 11g	$425K	$369K	$55K
Advertising and promotionLn 12	$68K	$48K		$20K
Office expensesLn 13	$61K	$37K	$20K	$4K
Information technologyLn 14	$20K	$15K	$3K	$3K
OccupancyLn 16	$55K	$41K	$4K	$9K
TravelLn 17	$1K	$819	$8	$334
Conferences, conventions and meetingsLn 19	$13K	$9K		$4K
InterestLn 20	$834K	$834K
Depreciation, depletion and amortizationLn 22	$2K	$1K	$157	$290
InsuranceLn 23	$11K	$9K	$898	$2K
Other expenses (24a–d)Ln 24	$46K	$41K	$1K	$4K
Total functional expensesLn 25	$3.1M	$2.6M	$225K	$339K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$7.7M	$6.9M	$770K	$11.5M	990 PDF
FY2023	$5.5M	$5.0M	$487K	$13.6M	990 PDF
FY2022	$6.7M	$4.4M	$2.3M	$13.0M	990 PDF
FY2021	$6.5M	$3.0M	$3.5M	$10.6M	990 PDF
FY2020 Viewing	$5.7M	$3.1M	$2.6M	$6.6M	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 FY2020 990 (6 parts)

Part I · Summary $5,739,451 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,723,584$5,611,446

I-9 Program service revenuePrior year $18,426$120,458

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $19,173$7,547

I-12 Total revenuePrior year $1,761,183$5,739,451

I-13 Grants and similar amounts paidPrior year $127,243$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $966,302$1,490,733

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $809,045$1,628,325

I-18 Total expensesPrior year $1,902,590$3,119,058

I-19 Revenue less expensesPrior year −$141,407$2,620,393

Part VI · Governance 12 of 12 board members independent, no flags

VI-1a Voting members of the governing body12

VI-1b Independent voting members12

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 $5,739,451 across 5 lines filed

VIII-1f All other contributions, gifts and grants$5,611,446

VIII-1h Total contributions, gifts and grants$5,611,446

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $120,458$120,458

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,547$7,547

VIII-12 Total revenueRelated to mission $128,005 · Unrelated business $0 · Excluded from tax $0$5,739,451

Part IX · Statement of functional expenses $3,119,058 across 18 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $144,468 · Management $9,866 · Fundraising $38,128$192,462

IX-7 Other salaries and wagesPrograms $792,090 · Management $54,526 · Fundraising $208,841$1,055,457

IX-8 Pension plan contributionsPrograms $23,747 · Management $2,500 · Fundraising $4,998$31,245

IX-9 Other employee benefitsPrograms $82,568 · Management $8,692 · Fundraising $17,383$108,643

IX-10 Payroll taxesPrograms $78,224 · Management $8,234 · Fundraising $16,468$102,926

IX-11b Legal feesPrograms $22,192 · Management $3,316$25,508

IX-11c Accounting feesPrograms $6,715 · Management $53,718 · Fundraising $6,715$67,148

IX-11g Other fees for servicesPrograms $369,296 · Management $55,306$424,602

IX-12 Advertising and promotionPrograms $47,736 · Fundraising $20,407$68,143

IX-13 Office expensesPrograms $37,430 · Management $19,734 · Fundraising $3,713$60,877

IX-14 Information technologyPrograms $14,533 · Management $2,889 · Fundraising $3,060$20,482

IX-16 OccupancyPrograms $41,477 · Management $4,366 · Fundraising $8,732$54,575

IX-17 TravelPrograms $819 · Management $8 · Fundraising $334$1,161

IX-19 Conferences, conventions and meetingsPrograms $8,860 · Fundraising $3,797$12,657

IX-20 InterestPrograms $833,818$833,818

IX-22 Depreciation, depletion and amortizationPrograms $1,378 · Management $157 · Fundraising $290$1,825

IX-23 InsurancePrograms $8,530 · Management $898 · Fundraising $1,796$11,224

IX-24 Other expenses (24a–d)Programs $40,716 · Management $1,118 · Fundraising $4,471$46,305

IX-25 Total functional expensesPrograms $2,554,597 · Management $225,328 · Fundraising $339,133$3,119,058

Part X · Balance sheet $8,588,508 assets, 17 lines filed

X-1 Cash, non-interest-bearingStart of year $60,163$51,544

X-2 Savings and temporary cash investmentsStart of year $1,122,923$3,584,720

X-3 Pledges and grants receivableStart of year $265,500$608,500

X-4 Accounts receivableStart of year $10,000$0

X-9 Prepaid expenses and deferred chargesStart of year $0$9,253

X-10c Land, buildings and equipment, netStart of year $1,814$0

X-13 Program-related investmentsStart of year $9,298$4,279,122

X-15 Other assetsStart of year $2,590,314$55,369

X-16 Total assetsStart of year $4,060,012$8,588,508

X-17 Accounts payable and accrued expensesStart of year $156,748$188,702

X-19 Deferred revenueStart of year $317,466$0

X-24 Unsecured notes and loans payableStart of year $1,250,000$1,847,095

X-26 Total liabilitiesStart of year $1,724,214$2,035,797

X-27 Net assets without donor restrictionsStart of year $1,078,149$5,052,788

X-28 Net assets with donor restrictionsStart of year $1,257,649$1,499,923

X-32 Total net assets or fund balancesStart of year $2,335,798$6,552,711

X-33 Total liabilities and net assetsStart of year $4,060,012$8,588,508

Part XI · Reconciliation of net assets $6,552,711 net assets at year end

XI-1 Total revenue$5,739,451

XI-2 Total expenses$3,119,058

XI-3 Revenue less expenses$2,620,393

XI-4 Net assets at start of year$2,335,798

XI-9 Other changes in net assets$1,596,520

XI-10 Net assets at end of year$6,552,711

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Ica Fund FY2020 filing

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