Capital Link INC FY2023 filing

Tax-deductible

Boston, MA501(c)(3)Since 1987Health CareEIN 52-1593251Revenue $3.1M in FY2023

On file with the IRScaplink.org40 Court St FL 10, 02108-2212 · Boston, MATax-exempt since Mar 1992Publicly supported — 509(a)(2)

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Capital Link is a national nonprofit organization that provides high-quality, affordable, innovative advisory services related to planning and financing Capital projects for nonprofit community health centers to support and expand community-based health care.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
$2.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $828K a year · 21% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.4M
to officers and key staff · 86% of spending
Concern: pay to officers and key staff is 86% of spending; over 30%.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 8.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $659K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$645K
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.1M
-9% vs prior year
Spent
$2.8M
To programs
76%
Net assets
$1.8M
By yearFY2020–FY2025
Revenue
$3.1M
FY2023▼ -9%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.2M
FY2021$3.7M
FY2022$3.4M
FY2023$3.1M
FY2024$6.5M
FY2025$4.1M
Expenses
$2.8M
FY2023▼ -14%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.1M
FY2021$3.2M
FY2022$3.3M
FY2023$2.8M
FY2024$3.2M
FY2025$3.5M
Net assets
$1.8M
FY2023▲ +22%
Tap a bar for its year
Net assets by fiscal year
FY2020$795K
FY2021$1.3M
FY2022$1.4M
FY2023$1.8M
FY2024$5.0M
FY2025$5.6M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1992.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $2.1M Management & general 24% · $665K

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

26 people listed on the 990; $2.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Outgoing Chief Executive Officer
$887,383Pt VII · Sec A
Chief Operating Officer
$295,519Pt VII · Sec A
Chief Project Officer
$202,879Pt VII · Sec A
Director of Loan Programs
$196,281Pt VII · Sec A
Director of Data and Analysis
$166,446Pt VII · Sec A
Chief Executive Officer
$160,066Pt VII · Sec A
Director of Finance
$146,223Pt VII · Sec A
Project Consultant
$125,030Pt VII · Sec A

Rebecca Regan’s $417K as Chief Executive Officer is at the 95th percentile of top reported officer pay among 3128 $1–10M health care 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Allison Coleman——$887,383$427,670$413,075$400,168
Rebecca Regan$416,741$360,994$160,066———
Susan Petrie—$373,051$295,519$277,473$262,907$249,480
Brandon Boyle$244,153$264,485$196,281$184,203$172,168$155,417
Jonathan Chapman——$202,879$187,157$176,953$169,319
Alice Edwards$185,459$155,992————
Jennifer Saber—$181,418$166,446$159,033——
Steven Skapinsky$179,095$167,020$125,030$118,690—$108,312

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

Helps community health centers plan and fund projects to expand healthcare access.

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Provided by the organization

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1 program · $2.1M · in their own filed words · FY2022
01

Capital link is dedicated to strengthening and expanding high-quality, community-based health care in a rapidly changing marketplace. We help health centers grow by providing:-industry vision and leadership in the development of capitalization strategies for facilities and operational expansion;-metrics and analytical services for…

$2.1Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 4 funders$659K
See all 4 funders →
Grants paid · 1 grant · $124K · 2020–2020

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$3.1M
Ln 12
Fees for servicesLn 2g$1.8M
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$31K
Money outPt IX
$2.8M
Ln 25
Programscol B$2.1M
Managementcol C$665K
Owns and owesPt X
$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$2.4M
LiabilitiesLn 26$645K
PeoplePt VI, VII
26
listed · VII A
PaidVII A10
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Government grantsLn 1e$1.2M
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$31K
Other incomeLn 4–11$3K
Gains on assetsLn 7$4K
Total revenueLn 12$3.1M
Assets in detailPt X, end of year
CashLn 1$934K
SavingsLn 2$1.0M
Cash and savings togetherLn 1–2$2.0M
InvestmentsLn 11–13$2K
Land, buildings, equipmentLn 10c$19K
Other assetsLn 15$68K
Total assetsLn 16$2.4M
LiabilitiesLn 26$645K
Net assetsLn 32$1.8M
OperationsPt I, VI
EmployeesI 544
VolunteersI 614
Fiscal year endsHeaderJune
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
LineStart FY23End FY23
Cash and savingsLn 1–2$1.6M$2.0M
InvestmentsLn 11–13$2K$2K
Land, buildings, equipmentLn 10c$17K$19K
Total assetsLn 16$2.7M$2.4M
LiabilitiesLn 26$1.3M$645K
Net assetsLn 32$1.4M$1.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$449K$353K$96K
Other salaries and wagesLn 7$1.3M$1.1M$169K
Pension plan contributionsLn 8$302K$150K$152K
Other employee benefitsLn 9$30K$15K$15K
Payroll taxesLn 10$217K$108K$109K
Legal feesLn 11b$11K$8K$2K
Accounting feesLn 11c$23K$18K$6K
Investment management feesLn 11f$2K$2K
Other fees for servicesLn 11g$133K$88K$45K
Advertising and promotionLn 12$6K$5K$1K
Office expensesLn 13$39K$30K$10K
Information technologyLn 14$45K$34K$11K
OccupancyLn 16$73K$54K$18K
TravelLn 17$69K$65K$4K
Conferences, conventions and meetingsLn 19$57K$53K$4K
Depreciation, depletion and amortizationLn 22$13K$11K$2K
InsuranceLn 23$29K$22K$7K
Other expenses (24a–d)Ln 24$523$393$130
All other expensesLn 24e$45K$33K$12K
Total functional expensesLn 25$2.8M$2.1M$665K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4.1M$3.5M$589K$5.6M 990 PDF
FY2024 $6.5M$3.2M$3.2M$5.0M 990 PDF
FY2023 Viewing $3.1M$2.8M$327K$1.8M 990 PDF
FY2022 $3.4M$3.3M$180K$1.4M 990 PDF
FY2021 $3.7M$3.2M$495K$1.3M 990 PDF
FY2020 $3.2M$3.1M$150K$795K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $3,139,756 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,519,032$1,308,711
I-9 Program service revenuePrior year $1,896,738$1,797,142
I-10 Investment incomePrior year $15,366$31,211
I-11 Other revenuePrior year $619$2,692
I-12 Total revenuePrior year $3,431,755$3,139,756
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,627,960$2,268,000
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $624,245$544,997
I-18 Total expensesPrior year $3,252,205$2,812,997
I-19 Revenue less expensesPrior year $179,550$326,759
Part VI · Governance 14 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
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 $3,139,756 across 7 lines filed
Lines not itemized here account for $2,692 of total revenue; see the IRS return.
VIII-1d Related organizations$94,361
VIII-1e Government grants$1,214,350
VIII-1h Total contributions, gifts and grants$1,308,711
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,797,142$1,797,142
VIII-3 Investment incomeExcluded from tax $27,292$27,292
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,919$3,919
VIII-12 Total revenueRelated to mission $1,799,834 · Unrelated business $0 · Excluded from tax $31,211$3,139,756
Part IX · Statement of functional expenses $2,812,997 across 19 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $352,555 · Management $96,153$448,708
IX-7 Other salaries and wagesPrograms $1,100,977 · Management $168,509$1,269,486
IX-8 Pension plan contributionsPrograms $150,405 · Management $151,918$302,323
IX-9 Other employee benefitsPrograms $15,140 · Management $15,294$30,434
IX-10 Payroll taxesPrograms $107,980 · Management $109,069$217,049
IX-11b Legal feesPrograms $8,437 · Management $2,404$10,841
IX-11c Accounting feesPrograms $17,602 · Management $5,847$23,449
IX-11f Investment management feesManagement $1,546$1,546
IX-11g Other fees for servicesPrograms $87,874 · Management $45,289$133,163
IX-12 Advertising and promotionPrograms $4,705 · Management $1,005$5,710
IX-13 Office expensesPrograms $29,634 · Management $9,688$39,322
IX-14 Information technologyPrograms $33,774 · Management $11,219$44,993
IX-16 OccupancyPrograms $54,471 · Management $18,093$72,564
IX-17 TravelPrograms $64,865 · Management $4,314$69,179
IX-19 Conferences, conventions and meetingsPrograms $53,276 · Management $3,544$56,820
IX-22 Depreciation, depletion and amortizationPrograms $10,818 · Management $1,842$12,660
IX-23 InsurancePrograms $21,992 · Management $7,305$29,297
IX-24 Other expenses (24a–d)Programs $393 · Management $130$523
IX-24e All other expensesPrograms $32,929 · Management $12,001$44,930
IX-25 Total functional expensesPrograms $2,147,827 · Management $665,170 · Fundraising $0$2,812,997
Part X · Balance sheet $2,405,925 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $164,384$933,813
X-2 Savings and temporary cash investmentsStart of year $1,434,350$1,040,360
X-3 Pledges and grants receivableStart of year $235,071$220,494
X-4 Accounts receivableStart of year $369,952$90,878
X-9 Prepaid expenses and deferred chargesStart of year $19,277$32,234
X-10c Land, buildings and equipment, netStart of year $16,771$18,698
X-13 Program-related investmentsStart of year $1,944$1,944
X-15 Other assetsStart of year $52,128$67,504
X-16 Total assetsStart of year $2,725,992$2,405,925
X-17 Accounts payable and accrued expensesStart of year $1,209,812$612,497
X-19 Deferred revenueStart of year $73,350$33,000
X-26 Total liabilitiesStart of year $1,283,162$645,497
X-27 Net assets without donor restrictionsStart of year $1,247,830$1,745,840
X-28 Net assets with donor restrictionsStart of year $195,000$14,588
X-32 Total net assets or fund balancesStart of year $1,442,830$1,760,428
X-33 Total liabilities and net assetsStart of year $2,725,992$2,405,925
Part XI · Reconciliation of net assets $1,760,428 net assets at year end
XI-1 Total revenue$3,139,756
XI-2 Total expenses$2,812,997
XI-3 Revenue less expenses$326,759
XI-4 Net assets at start of year$1,442,830
XI-5 Net unrealized gains (losses) on investments−$9,161
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,760,428

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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