Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2017.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
52 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
9 people listed on the 990; $155K paid to officers and key staff (Part VII, Section A).
Eric K Foster’s $88K as Chair and Director is at the 78th percentile of top reported officer pay among 1265 $100K–1M philanthropy & grantmaking 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 · 2 named individuals · Part VII
| Name | FY2024 | FY2022 | FY2020 |
|---|---|---|---|
| Eric K Foster | $87,683 | $85,000 | $71,125 |
| Cuong Q Huynh | $71,907 | $70,000 | $53,625 |
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.
See Rende Progress Capital executive salaries →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
Empowering excluded entrepreneurs with affordable loans and services for economic equity.
Questions for Rende Progress Capital
Your first name shows with your question. Rende Progress Capital answers here, for everyone.
Business technical assistance activities, development of FY 2022 business technical assistance sessions through direct feedback with Excluded Entrepreneurs of Color contributed to successful technical assistance programming.
Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 82-0689514) · Dispute this lineRPC added new approved customers in FY 2022 for an overall 42 approved loan customer deals in our portfolio, an increase from 29 in FY 2021. Overall deployment was $631,816 [FY 2022 loan deployment of new capital being $103,253.72]. Loan deployment for FY 2022 would have been of $240,272.73 at minimum and an overall $872,088.73 deployed.
Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 82-0689514) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.7M | $2.6M |
| Land, buildings, equipmentLn 10c | $11K | $10K |
| Total assetsLn 16 | $2.1M | $3.0M |
| LiabilitiesLn 26 | $489K | $528K |
| Net assetsLn 32 | $1.6M | $2.5M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $2K | $2K | ||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $323K | $175K | $106K | $42K |
| Other fees for servicesLn 11g | $42K | $3K | $33K | $6K |
| Advertising and promotionLn 12 | $5K | $2K | $3K | |
| Office expensesLn 13 | $5K | $521 | $4K | $540 |
| OccupancyLn 16 | $12K | $9K | $3K | |
| TravelLn 17 | $11K | $5K | $6K | |
| Conferences, conventions and meetingsLn 19 | $12K | $10K | $2K | |
| InterestLn 20 | $6K | $6K | ||
| Depreciation, depletion and amortizationLn 22 | $3K | $3K | ||
| InsuranceLn 23 | $2K | $2K | ||
| Other expenses (24a–d)Ln 24 | $29K | $21K | $8K | |
| All other expensesLn 24e | $166 | $135 | $31 | |
| Total functional expensesLn 25 | $453K | $234K | $171K | $48K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Aug 20, 2026 | $554K | $488K | $66K | $3.3M | 990 PDF |
| FY2024Filed with the IRS Aug 22, 2025 | $638K | $463K | $175K | $3.0M | 990 PDF |
| FY2023Filed with the IRS Sep 3, 2024 | $814K | $467K | $347K | $2.9M | 990 PDF |
| FY2022 ViewingFiled with the IRS Aug 23, 2023 | $1.4M | $453K | $906K | $2.5M | 990 PDF |
| FY2021 | Not on file | ||||
| FY2020Filed with the IRS Jun 10, 2021 | $1.8M | $313K | $1.5M | $1.7M | 990 PDF |
Schedules filed Part IV
See the full FY2022 990
Part I · Summary $1,358,413 revenue, 12 lines filed
Part VI · Governance 7 of 9 board members independent, no flags
Part VIII · Statement of revenue $1,358,413 across 6 lines filed
Part IX · Statement of functional expenses $452,735 across 13 lines filed
Part X · Balance sheet $3,048,192 assets, 13 lines filed
Part XI · Reconciliation of net assets $2,520,566 net assets at year end
Form 990 e-file FY2022 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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