2024-05-14T12:19:59-04:00 2023-06-30 233022325 ZELENKOFSKE AXELROD LLC 210 TOLLGATE HILL ROAD GREENSBURG PA 15601 990 2022-07-01 232920364 PENNSYLVANIA CDFI NETWORK PENN 50 S 16TH STREET 17TH FLOOR PHILADELPHIA PA 19102 VARSOVIA FERNANDEZ CEO 7177256356 2024-05-13 VARSOVIA FERNANDEZ 999009999 false JARED C EWING P00596532 7248342151 2024-05-13 2022 2023-04-26 12:10:37Z X VARSOVIA FERNANDEZ 50 S 16TH STREET 17TH FLOOR PHILADELPHIA PA 19102 17412624 false X WWW.PACDFINETWORK.ORG X 1997 PA THE PA CDFI NETWORK IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES OF PROVIDING INFORMATION, ADVICE AND NECESSARY FINANCIAL ASSISTANCE TO FEDERALLY-CERTIFIED (CONTINUED ON SCHEDULE O) 9 9 3 11 0 13225029 17197243 0 6891 215381 0 13231920 17412624 12381466 14441018 0 177565 273692 0 0 586704 2621422 13145735 17336132 86185 76492 12721223 1280928 11837784 320997 883439 959931 X THE PA CDFI NETWORK IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES OF PROVIDING INFORMATION, ADVICE AND NECESSARY FINANCIAL ASSISTANCE TO FEDERALLY-CERTIFIED (CONTINUED ON SCHEDULE O) false false 16930341 14441018 THE PA CDFI NETWORK COLLABORATES ON REGIONAL AND STATEWIDE INITIATIVES TO SUPPORT SMALL BUSINESSES. IT HAS THE CAPACITY TO ENGAGE WITH LARGE-SCALE FUNDERS, ALLOWING FOR THE DEPLOYMENT OF MORE RESOURCES TO A WIDER RANGE OF BUSINESS OWNERS THAN ANY ONE CDFI CAN SERVE. IN 2020-2021, THE NETWORK OBTAINED 249 MILLION FROM CARES ACT RESOURCES TO MANAGE STATE AND COUNTY-BASED PROGRAMS AND DELIVERED THE KEEP YOUR DOORS OPEN PROGRAM. AS A RESULT, 14,500 SMALL BUSINESSES RECEIVED RECOVERY GRANTS AND 57% OF THE FUNDS WENT TO BUSINESSES OWNED BY PEOPLE OF COLOR. (CONTINUED ON SCHEDULE O) 16930341 true true false false false false false false false false false false false false false true true false false false false false false false false false false true false true false false false false false false false false false false false false false false false false false false 7 0 3 false false false false false false false false false false false false false false false X 9 9 false false false false false false false true true false false true true true false false true true false false X VARSOVIA FERNANDEZ 7177256356 50 S 16TH STREET 17TH FLOOR PHILADELPHIA PA 19102 VARSOVIA FERNANDEZ CEO 40.00 X 197861 0 6308 LESLIE BENOLIEL TREASURER 1.00 X X 0 0 0 DANIEL BETANCOURT CHAIRMAN 1.00 X X 0 0 0 JAMES BURNETT VICE CHAIRMA 1.00 X X 0 0 0 MICHELE CLAPPER DIRECTOR 1.00 X 0 0 0 CHRIS HUDOCK SECRETARY 1.00 X X 0 0 0 DAVID KAHLEY DIRECTOR 1.00 X 0 0 0 MARK MASTERSON SECOND VICE 1.00 X X 0 0 0 RECO OWENS DIRECTOR 1.00 X 0 0 0 EVELYN SMALLS DIRECTOR 1.00 X 0 0 0 197861 6308 1 false true false DAWN JOHNSON 431 GENTRY AVE OAKDALE MN 55128 PROG COORDINAT 202438 1 104000 16925397 167846 17197243 215381 215381 17412624 215381 X 14441018 14441018 181308 181308 57382 47643 9739 4800 984 3816 12784 3914 8870 17418 3571 13847 1775 1775 52817 52817 2528107 2414839 113268 646 194 452 13085 3942 9143 15858 13768 2090 BANK FEES 6616 6616 TRAINING AND DEVELOPMENT 1918 468 1450 MISCELLANEOUS EXPENSES 600 600 17336132 16930341 405791 0 12701802 1241203 400 1502 19021 38223 12721223 1280928 8814 12085 11828970 308912 11837784 320997 X 520927 429573 362512 530358 883439 959931 12721223 1280928 76492 X false true X true true true X 287109761 13225029 17197243 317532033 287109761 13225029 17197243 317532033 317532033 16914 6891 215381 239186 317771219 0.99920 0.99990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 17412624 17412624 17412624 17336132 17336132 17336132 SCHEDULE D, PAGE 3, PART X THE INTERNAL REVENUE SERVICE HAS DETERMINED THE PA CDFI NETWORK TO BE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE AND FURTHER IS CLASSIFIED AS AN ORGANIZATION WHICH IS NOT A PRIVATE FOUNDATION. FURTHER, THE NETWORK ANNUALLY FILES A FORM 990 AS APPLICABLE. THE FORM FILED IS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE GENERALLY FOR THREE YEARS AFTER IT IS FILED. MANAGEMENT ASSERTS THAT THEY HAVE NO UNCERTAIN TAX POSITIONS REQUIRING ESTABLISHMENT OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. true BRIDGEWAY CAPITAL 707 GRANT ST STE 1920 PITTSBURGH PA 15219 251635121 501C3 4025406 TECH ASSIST SSBCI COMMUNITY FIRST FUND 51 SOUTH DUKE STREET SUITE 400 LANCASTER PA 17602 232689714 5013C 5813694 TECH ASSIST SSBCI ENTREPENEUR WORKS 400 MARKET STREET SUITE 210 PHILADELPHIA PA 19106 232996139 501C3 45000 GRIT FUND ENTERPRISE DEVELOPMENT 1314 GRISWOLD PLAZA SUITE 100 ERIE PA 16501 251525572 501C3 300000 SSBCI ALLOCATION IMPACT LOAN FUND 1952 E ALLEGHENY AVENUE PHILADELPHIA PA 19134 233032463 501C3 195500 TECH ASSIST SSBCI INVESTPGH 412 BOULEVARD OF THE ALLIES STE 901 PITTSBURGH PA 15219 850976761 501C3 15000 SSBCI ALLOCATION NEIGHBORHOOD COMMUNITY DEV FUND 3923 PERRYSVILLE AVE PITTSBURGH PA 15214 251855490 501C3 1186300 SSBCI LOANS ALLOCAT NEIGHBORHOOD PROGRESS FUND 1300 W LEHIGH AVENUE SUITE 100 PHILADELPHIA PA 19132 232850840 501C3 95000 TECH ASSIST AND OPER PIDC COMMUNITY CAPITAL 1500 MARKET STREET 3500 CENTRE SQUARE WEST PHILADELPHIA PA 19102 232889102 501C3 1985000 TECH ASSIST SSBCI THE ENTERPRISE CENTER 4548 MARKET STREET PHILADELPHIA PA 19139 270022155 501C3 232941 TECHNICAL ASSISTANCE THE REINVESTMENT FUND 1700 MARKET STREET 19TH FLOOR PHILADELPHIA PA 19103 232331946 501C3 232941 TECH ASSISTANCE VESTEDIN 3676 MARKET ST STE 200 PHILADELPHIA PA 19104 232855262 501C3 232941 TECH ASSISTANCE false false false false false false false false false VARSOVIA FERNANDEZ CEO 190361 7500 6308 204169 FORM 990 PART I AND PART III ORGANIZATION'S MISSION - CONTINUED: COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS), SMALL BUSINESSES, MICROENTERPRISES AND TO EDUCATE THE PUBLIC AS TO THE BENEFITS OF CDFIS AND MICROENTERPRISES. FORM 990, PART III LINE 4A - CONTINUED: IN 2021, THE NETWORK LAUNCHED THE GRIT FUND, A PROGRAM THAT PROVIDES RESOURCES TO SUPPORT EXPANSION OF THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) SERVING THE PHILADELPHIA REGION, TO INCREASE ECONOMIC AND ?NANCIAL OPPORTUNITIES FOR BLACK AND BROWN-OWNED BUSINESSES. SINCE IT HAS RAISED 28.6 MILLION IN DEBT CAPITAL AND 5.6 MILLION IN CHARITABLE FOR TECHNICAL ASSISTANCE; THE ?VE-YEAR PROGRAM HAS APPROVED 578 LOANS AND HAS HELPED 3,515 BLACK AND BROWN SMALL BUSINESSES WITH TECHNICAL ASSISTANCE. IN 2022, THE NETWORK SECURED AN ADDITIONAL 24 MILLION FOR LOW-COST LOANS, GRANTS, AND TECHNICAL ASSISTANCE FOR CDFIS TO SERVE LOW-INCOME NEIGHBORHOODS SMALL BUSINESSES. IT LAUNCHED THE SMALL BUSINESS GROWTH PROGRAM AND THE BARBER AND THE BEAUTY SALON SMALL BUSINESS ASSISTANCE PROGRAMS. 4 MILLION IN TECHNICAL ASSISTANCE GRANTS WENT TO CDFIS AND 8.72 MILLION WAS GRANTED TO BARBERS AND BEAUTY SALONS IN PENNSYLVANIA. IN 2023, THE NETWORK SECURED A 45 MILLION ALLOCATION FROM THE PA SSBCI PROGRAM; A FAVORABLE COST-FREE ALLOCATION THAT ALLOWS CDFIS TO MATCH BANK DOLLARS FROM THE GRIT FUND PROGRAM WITH SSBCI FUNDS. IT PROVIDED 13.1 MILLION IN LOW INTEREST LOANS TO LOW INCOME AND VERY SMALL BUSINESSES ACROSS PENNSYLVANIA, FOR A TOTAL OF 106 LOANS. FORM 990, PAGE 6, PART VI, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 15A CHAIR AND TREASURER PERFORM A REVIEW OF THE CEO AND SHARE IT WITH THE BOARD OF DIRECTORS. BOARD DELIBERATES AND IF FOOD REVIEW, THEN BOARD GRANTS A MERIT INCREASE, A MARKET ADJUSTMENT, AND A BONUS BASED ON ACCOMPLISHMENTS FOR THE PAST YEAR. THE BOARD APPROVES THE TOTAL COMPENSATION CHANGE, AND CHAIRE AND TREASURER MEET WITH CEO TO DISCUSS COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE PROVIDED UPON REQUEST. FORM 990, PART IX, LINE 11G LENDISTRY CALL CENTER FEES 171,560 0 0 CONSULTING 388,582 0 0 TECHNOLOGY 19,166 0 0 OTHER FEES 997 0 0 CDFI ADMIN FEE 1,424,703 113,268 0 NETWORK ADMIN FEE 400,026 0 0 MARKETING AND PR 9,805 0 0 TOTAL 2,414,839 113,268 0