2024-11-13T12:38:44-06:00 2023-12-31 382029668 GJC CPA'S & ADVISORS 1001 WOODWARD AVENUE SUITE 850 DETROIT MI 482261904 990 2023-01-01 863974526 ALT FINANCE CORPORATION ALTF 9196990778 800 CORPORATE POINTE 300 CULVER CITY CA 902307657 MARCUS SHAW EXECUTIVE DIRECTOR 9196990778 2024-11-13 1 1 MICHAEL R NICHOLAS P00966144 3139652655 2023 2024-10-15 13:58:12Z MARCUS SHAW 800 CORPORATE POINTE 300 CULVER CITY CA 902307657 9005000 0 X WWW.ALTFINANCE.COM X 2021 CA INVESTING IN BLACK FUTURES BY PROVIDING A CLEAR PATHWAY TO STUDENTS AT PARTNERING HISTORICALLY BLACK COLLEGES AND UNIVERSITIES ("HBCU'S") INTO CAREERS IN THE ALTERNATIVE INVESTMENT INDUSTRY. PARTICIPATING HBCU STUDENTS WILL RECEIVE ACCESS TO EDUCATION, TRAINING, MENTORSHIP, SCHOLARSHIP FUNDING, INTERNSHIPS, AND FULL-TIME CAREER OPPORTUNITIES IN THE INDUSTRY. 7 6 4 6 0 0 9006017 9005000 0 0 0 0 0 0 9006017 9005000 3593520 829210 0 0 607382 961846 0 0 0 2489626 3679249 6690528 5470305 2315489 3534695 10989237 14973383 130544 1762069 10858693 13211314 X INVESTING IN BLACK FUTURES BY PROVIDING A CLEAR PATHWAY TO STUDENTS AT PARTNERING HBCU'S INTO CAREERS IN THE ALTERNATIVE INVESTMENT INDUSTRY. PARTICIPATING HBCU STUDENTS WILL RECEIVE ACCESS TO EDUCATION, TRAINING, MENTORSHIP, SCHOLARSHIP FUNDING, INTERNSHIPS, AND FULL-TIME CAREER OPPORTUNITIES IN THE INDUSTRY. 0 0 1074802 829210 SCHOLARSHIP PROGRAM - THIS PROGRAM PROVIDES NEED-BASED AND MERIT-BASED SCHOLARSHIPS FOR ALTFINANCE FELLOWS, IN ADDITION TO INSTITUTIONAL GRANTS FOR THE ORGANIZATION'S PARTNER HBCU'S. NEARLY 60 STUDENTS RECEIVED SCHOLARSHIPS, AND 2,800 STUDENTS WERE IMPACTED BY THE INSTITUTIONAL INVESTMENT. 3222023 ALTFINANCE FELLOWSHIP PROGRAM - THIS PROGRAM SERVICES 118 STUDENTS BY PROVIDING THEM WITH TRAINING, MENTORSHIP, CAREER COACHING, AND SCHOLARSHIPS. THE ORGANIZATION HOSTS FIVE IN-PERSON WORKSHOPS A YEAR. 932415 ALTFINANCE INSTITUTE - THE INSTITUTE PROVIDES CO-CURRICULAR LEARNING OPPORTUNITIES TO ALL INTERESTED HBCU STUDENTS TO INCREASE AWARENESS, SUPPORT INTEREST, AND CREATE PATHWAYS TO ALTERNATIVE INVESTMENT CAREERS. MANY OF THE INSTITUTE AMBASSADORS MEET IN PERSON ONCE A YEAR. 5229240 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA NY X MARCUS SHAW 9196990778 800 CORPORATE POINTE SUITE 300 CULVER CITY CA 902307657 MARCUS SHAW EXECUTIVE DIRECTOR 40.00 X X 325000 0 0 TREY PRUITT PRESIDENT 1.00 X X 0 0 0 JONATHAN B SIMON VICE-PRESIDENT 1.00 X X 0 0 0 HEATHER BERGER TREASURER 1.00 X X 0 0 0 JERILYN MCANIFF SECRETARY 1.00 X X 0 0 0 MICHELLE ARMSTRONG DIRECTOR 1.00 X 0 0 0 MILWOOD HOBBS JR DIRECTOR 1.00 X 0 0 0 RACHEL WARD VICE-PRESIDENT OF OPERATION 40.00 X 184000 0 0 LESLIE ESPY VICE-PRES. OF STRATEGY AND OPERATION 40.00 X 179000 0 0 688000 0 0 3 0 1 0 0 9005000 9005000 9005000 0 0 0 829210 829210 688000 550400 137600 135965 108772 27193 26210 20968 5242 77145 61716 15429 34526 27621 6905 63091 50473 12618 217325 217325 24766 19813 4953 18070 14456 3614 4800 3840 960 120360 96288 24072 5191 4153 1038 FELLOWSHIP PROGRAM 2485792 2485792 INSTITUTE PROGRAM 719359 719359 STUDENT ASSISTANCE 13291 13291 MEALS 7204 5763 1441 5470305 5229240 241065 0 7984923 10423565 3000000 4500000 385 4314 49433 10989237 14973383 128762 1762069 1782 0 130544 1762069 X 10858693 13211314 10858693 13211314 10989237 14973383 3534695 -1182074 0 X 0 1 X 0 0 X 9000000 9006017 9005000 27011017 9000000 9006017 9005000 27011017 16919560 10091457 27011017 X PART II, SHORT YEAR EXPLANATION: THE ORGANIZATION WAS INCORPORATED ON APRIL 12, 2021. THEREFORE, THE 2021 COLUMN REPRESENTS A SHORT PERIOD. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 9005000 0 9005000 0 9005000 5470305 0 5470305 0 5470305 PART X, LINE 2: U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE UNCERTAIN TAX POSITIONS TAKEN BY THE ORGANIZATION. THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION ARE RECOGNIZED WHEN THE POSITION IS MORE-LIKELY-THAN-NOT, BASED ON THE TECHNICAL MERITS, TO BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN. THE ORGANIZATION HAS RECOGNIZED NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. 1 UNITED NEGRO COLLEGE FUND INC 1805 7TH STREET NW WASHINGTON DC 20001 131624241 501(C)(3) 829210 0 N/A N/A SCHOLARSHIPS 1 0 PART I, LINE 2: GRANTEES ARE REQUIRED TO PROVIDE AN ANNUAL REPORT DETAILING THE USE OF THE GRANT FUNDS. X X 0 0 X X 0 0 0 0 0 0 0 0 0 MARCUS SHAW EXECUTIVE DIRECTOR 250000 0 75000 0 0 0 0 0 0 0 325000 0 0 0 RACHEL WARD VICE-PRESIDENT OF OPERATION 165000 0 19000 0 0 0 0 0 0 0 184000 0 0 0 LESLIE ESPY VICE-PRES. OF STRATEGY AND OPERATION 165000 0 14000 0 0 0 0 0 0 0 179000 0 0 0 PART I, LINE 1A THE ORGANIZATION'S EXECUTIVE DIRECTOR WILL OCCASIONALLY FLY FIRST CLASS DURING A RED-EYE FLIGHT, OR IF THAT IS THE ONLY FLIGHT AVAILABLE. THE ORGANIZATION ALSO COVERS THE DUES FOR THE GATHERING SPOT, WHICH IS A CO-WORKING SPACE AND SOCIAL CLUB. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY A CPA FIRM. UPON COMPLETION OF THE DRAFT RETURN, IT IS REVIEWED BY THE BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND DIRECTORS ARE REQUIRED TO DISCLOSE ANNUALLY ANY SITUATIONS THAT COULD GIVE RISE TO A POTENTIAL CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD REVIEWS EXECUTIVE COMPENSATION FOR SIMILAR-SIZED ORGANIZATIONS AS A BENCHMARK FOR EXECUTIVE PAY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL INFORMATION IS AVAIABLE UPON REQUEST.