2025-11-14T10:24:01-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 293 EISENHOWER PARKWAY 2ND FLOOR LIVINGSTON NJ 07039 990 2024-01-01 113720098 RISING TIDE CAPITAL INC AND SUBSIDIARIES RISI 2014324316 111 TOWN SQUARE PL PMB 56701 JERSEY CITY NJ 073101810 DR JOYNICOLE MARTINEZ CHIEF ADVANCEMENT OFFICER 2014324316 2025-11-13 1 1 TARA DEL GAVIO P02438051 9739949494 2025-11-13 2024 2025-03-06 01:10:19Z ALEX FORRESTER 111 TOWN SQUARE PL PMB 56701 JERSEY CITY NJ 073101810 5627612 0 X WWW.RISINGTIDECAPITAL.ORG X 2004 NJ OUR MISSION IS TRANSFORMING LIVES AND COMMUNITIES THROUGH ENTREPRENEURSHIP. WE ASSIST ENTREPRENEURS IN ECONOMICALLY MARGINALIZED COMMUNITIES TO BUILD LASTING BUSINESSES. OUR VISION IS TO BUILD INCLUSIVE COMMUNITIES OF RESILIENT ENTREPRENEURS CATALYZING A THRIVING AND SUSTAINABLE ECONOMY FOR ALL. THROUGH OUR SIGNATURE PROGRAMS, THE COMMUNITY BUSINESS ACADEMY (CBA), BUSINESS ACCELERATION SERVICES (BAS), AND CREDIT TO CAPITAL (C2C), WE PROVIDE HOLISTIC TECHNICAL ASSISTANCE, ACCESS TO CAPITAL THROUGH PARTNERS AND BUSINESS MANAGEMENT EDUCATION AND COACHING. CBA IS A COLLEGE-ACCREDITED COURSE PROVIDING BASIC SKILLS NEEDED TO MANAGE AND STRENGTHEN A BUSINESS. CLASSES ARE OFFERED IN ENGLISH AND SPANISH, TAILORED TO MEET VARIED IDENTITIES AND EDUCATIONAL LEVELS. AS PART OF BAS, OUR SUBJECT MATTER EXPERTS PREPARE ENTREPRENEURS FOR GROWTH. OUR C2C PROGRAM PROVIDES ACCESS TO FINANCING FROM VETTED CDFIS. WITH A NETWORK OF PARTNERS, RTC LICENSES ITS PROVEN MODEL TO SCALE IMPACT IN MORE COMMUNITIES 11 8 40 89 0 0 4247802 4426231 566716 666454 95495 445331 137512 0 5047525 5538016 0 0 0 0 4255972 4703469 0 0 756898 2665006 2911596 6920978 7615065 -1873453 -2077049 12416017 9628408 3205632 4292266 9210385 5336142 X RISING TIDE CAPITAL INC. IS A NON-PROFIT ORGANIZATION WHOSE MISSION IS TO TRANSFORM LIVES AND COMMUNITIES THROUGH ENTREPRENEURSHIP. RISING TIDE AIMS TO EXPAND ITS PROVEN MODEL AND PROGRAMS TO SERVE MORE ECONOMICALLY CHALLENGED INDIVIDUALS AND FAMILIES FOR WHOM ENTREPRENEURSHIP REPRESENTS AN IMPORTANT OPPORTUNITY FOR RESILIENCE, GROWTH, STABILITY, AND INCOME GENERATION. WE ARE DRIVEN BY A VISION OF STRONG COMMUNITIES OF RESILIENT ENTREPRENEURS CATALYZING A THRIVING AND SUSTAINABLE ECONOMY FOR ALL. 0 0 6328636 666454 RISING TIDE CAPITAL MARKED A TRANSFORMATIVE YEAR IN 2024, CELEBRATING ITS 20TH ANNIVERSARY WHILE ACHIEVING SIGNIFICANT MILESTONES IN ENTREPRENEURIAL SUPPORT AND COMMUNITY DEVELOPMENT. THROUGH THE RISING TIDE NETWORK, THE ORGANIZATION NOW OPERATES IN 18 LOCATIONS ACROSS 15 STATES, HAVING SUPPORTED OVER 11,000 ENTREPRENEURS SINCE ITS FOUNDING.RISING TIDE CAPITAL AND THE RISING TIDE NETWORK PROVIDED INTENSIVE BUSINESS MANAGEMENT TRAINING & EDUCATION WITH ACCESS TO CAPITAL AND COACHING SERVICES TO OVER 2,100 ENTREPRENEURS DURING 2024. 494 PEOPLE PARTICIPATED IN OUR COMMUNITY BUSINESS ACADEMY, 550 PEOPLE RECEIVED ADVANCED TECHNICAL SUPPORT AND COACHING THROUGH OUR BUSINESS ACCELERATION SERVICES PROGRAM (A 31% INCREASE FROM 2023), AND 230 PEOPLE RECEIVED CREDIT COUNSELING, LOAN PACKAGING, AND ACCESS TO CAPITAL SERVICES THROUGH OUR CREDIT TO CAPITAL PROGRAM, WITH COACHING HOURS INCREASING BY 377% TO 1,831 HOURS.DURING 2024 THESE EFFORTS RESULTED IN 70 NEW BUSINESS STARTS (89% INCREASE FROM 2023), 550 BUSINESSES STRENGTHENED/STABILIZED (26% INCREASE), 331 BUSINESSES EXPANDED (82% INCREASE), AND THE CREATION OF 325 NEW JOBS, REPRESENTING A 55% INCREASE IN JOB CREATION FROM THE PREVIOUS YEAR.WITH PROGRAM GRADUATES ACHIEVING AN 81% BUSINESS SURVIVAL RATE BEYOND FIVE YEARSSIGNIFICANTLY OUTPERFORMING THE 50% NATIONAL AVERAGE ALONGSIDE RISING TIDE CAPITAL'S PROVEN IMPACT IN GENERATING $5.89 IN SOCIAL VALUE FOR EVERY $1 INVESTED RISING TIDE CAPITAL CONTINUES TO DEMONSTRATE THAT ENTREPRENEURSHIP IS A POWERFUL CATALYST FOR ECONOMIC MOBILITY AND COMMUNITY TRANSFORMATION. 6328636 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 134 0 1 40 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 8 1 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NJ NY X X ALEX FORRESTER 2014324316 311 MARTIN LUTHER KING DRIVE JERSEY CITY NJ 07305 MAURICE KUYKENDOLL TREASURER 2.00 X X 0 0 0 JOE MASTERSON VICE CHAIR & SECRETARY OF THE BOARD 2.00 X X 0 0 0 ANAND DEVENDRAN FINANCE AND AUDIT COMMITTEE CHAIRMAN 2.00 X X 0 0 0 ANDRE DUGGIN BOARD MEMBER 2.00 X 0 0 0 ANGELO STRACQUATANIO BOARD MEMBER 2.00 X 0 0 0 JEFFREY ROBINSON BOARD MEMBER 2.00 X 0 0 0 KIRAN HANDA GUADIOSO BOARD MEMBER 2.00 X 0 0 0 PRESTON PINKETT BOARD MEMBER 2.00 X 0 0 0 AICHA BALLA CHAIR 2.00 X 0 0 0 KRISTEN SHARP BOARD MEMBER 2.00 X 0 0 0 ALFA DEMMELLASH CHIEF EXECUTIVE OFFICER 40.00 X X 267500 0 53992 ALEX FORRESTER CHIEF OPERATING OFFICER 40.00 X 245452 0 59383 JOYNICOLE MARTINEZ CHIEF ADVANCEMENT OFFICER 40.00 X 228333 0 39502 LOUISA COUSINS SENIOR DIRECTOR OF ANALYTICS & INFOR 40.00 X 147009 0 48123 KRIS VAN NEST EXECUTIVE PRODUCER OF DIGITAL LEARNI 40.00 X 149648 0 38687 CHRIS BREITENBERG DIRECTOR - NPP 40.00 X 132426 0 45900 SAMIRA COOK MANAGING DIRECTOR OF STRATEGIC PARTNERSHIPS 40.00 X 140347 0 47233 1310715 0 332820 12 0 1 0 YOH 1500 SPRING GARDEN STREET PHILADELPHIA PA 19130 CONSULTING SERVICES FOR SALES FORCE 277560 POC COLLABORATIVE COMMUNITY RESOURCE CEN POBOX 11515 OMAHA NE 68111 STAND TOGETHER PASS THROUGH GRANT TO POC 275000 CONSILIENCE LLC 3347 QUESADA ST NW WASHINGTON DC 20015 FUTURE TIDE PARTNERS ONSULTING 167300 LIRIA PARTNERS LLC 139 HIGH OAKS DRIVE WARREN NJ 07059 TRAINING & CONTENT DEVELOPMENT WITH NATI 164892 PEACOCK PRINTING & GRAPHICS LLC POBOX 339 MONTVILLE NJ 07045 PRINTING & PUBLICATIONS 101672 5 918731 3507500 4426231 NATIONAL PROGRAM PARTN 611710 253911 253911 LICENSING FEES 561499 199500 199500 CONTRACT SERVICES 541610 183800 183800 CBA AND BAS 611710 29243 29243 666454 199944 199944 334983 89596 245387 245387 245387 5538016 666454 0 445331 X 894173 703728 102309 88136 2996549 2521973 201601 272975 98929 83814 6179 8936 444026 374043 29580 40403 269792 224147 20669 24976 1611121 1352621 7618 250882 6606 6237 13 356 421503 390429 26940 4134 86012 78317 3954 3741 165093 140621 8966 15506 EQUIPMENT, SOFTWARE AND 310573 153026 111904 45643 MISCELLANEOUS 150519 139679 9798 1042 PRINTING AND POSTAGE 103794 103751 43 PROGRAM SEMINAR AND EVE 56375 56250 125 7615065 6328636 529531 756898 288364 720343 4097481 3371194 3073852 1164434 444978 14436 55707 48328 4783075 491743 4436472 4291332 19163 18341 12416017 9628408 227322 249352 2978310 4042914 3205632 4292266 X 6194135 3988642 3016250 1347500 9210385 5336142 12416017 9628408 X -2077049 -44153 -1390887 -362154 X X 0 1 X 1 1 1 X 7510076 7322131 7301927 4247802 4426231 30808167 7510076 7322131 7301927 4247802 4426231 30808167 8337132 22471035 6347 3029 19431 95495 111638 235940 51933 51933 31096040 2328238 0.72260 0.73280 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 434300 434300 1099527 128278 971249 2805644 320548 2485096 122066 42917 79149 321538 321538 4291332 X 5611813 -44153 117950 73797 5538016 0 5538016 8095169 117950 362154 480104 7615065 0 7615065 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS ALSO EXEMPT FROM STATE INCOME TAXES. THE ORGANIZATION FOLLOWS STANDARDS THAT PROVIDE CLARIFICATION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN, OR EXPECTED TO BE TAKEN, IN A TAX RETURN, AND ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE, AND TRANSITION. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE. NO INTEREST AND PENALTIES WERE RECORDED DURING THE YEARS ENDED 2024 AND 2023. AT DECEMBER 31, 2024 AND 2023, THERE ARE NO SIGNIFICANT INCOME TAX UNCERTAINTIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 46,000. CREDIT LOSS EXPENSE 316,154. X X 0 0 0 0 0 0 0 0 0 ALFA DEMMELLASH CHIEF EXECUTIVE OFFICER 266900 0 0 0 600 0 13375 0 40617 0 321492 0 0 0 ALEX FORRESTER CHIEF OPERATING OFFICER 244852 0 0 0 600 0 12305 0 47078 0 304835 0 0 0 JOYNICOLE MARTINEZ CHIEF ADVANCEMENT OFFICER 185310 0 43023 0 0 0 11417 0 28085 0 267835 0 0 0 LOUISA COUSINS SENIOR DIRECTOR OF ANALYTICS & INFOR 147009 0 0 0 0 0 7490 0 40633 0 195132 0 0 0 KRIS VAN NEST EXECUTIVE PRODUCER OF DIGITAL LEARNI 149648 0 0 0 0 0 7483 0 31204 0 188335 0 0 0 SAMIRA COOK MANAGING DIRECTOR OF STRATEGIC PARTN 140347 0 0 0 0 0 7241 0 39992 0 187580 0 0 0 CHRIS BREITENBERG DIRECTOR - NPP 132426 0 0 0 0 0 7165 0 38735 0 178326 0 0 0 PART I, LINE 3 RISING TIDE CAPITAL USES ANNUALLY UPDATED MARKET RESEARCH ABOUT NONPROFIT COMPENSATION FOR ORGANIZATIONS OF SIMILAR SIZE, MISSION, AND GEOGRAPHIC LOCATION PUBLISHED BY ORGANIZATIONS SUCH AS CANDID, PROPUBLICA AND THE COUNCIL OF NONPROFITS. THE DATA INFLUENCES DECISION-MAKING REGARDING COMPENSATION LEVELS ASSESSED DURING THE ANNUAL PERFORMANCE PERIOD. THE BOARD EXECUTIVE COMPENSATION TASK FORCE ANNUALLY REVIEWS THE PERFORMANCE OF THE CEO AND COO AND UTILIZES APPROPRIATE MARKET DATA TO DETERMINE EXECUTIVE COMPENSATION. EXECUTIVE PERFORMANCE REVIEW IS DONE ANNUALLY. FORM 990, PART VI, SECTION A, LINE 2 RISING TIDE CAPITAL WAS CO-FOUNDED BY ALFA DEMMELLASH AND ALEX FORRESTER, WHO ARE MARRIED AND WHO SERVE AS CEO AND COO, RESPECTIVELY. THE BOARD CONSISTS ENTIRELY OF INDEPENDENT, NON-RELATED PARTIES. NO OTHER FAMILY RELATIONSHIP EXISTS WITHIN THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B AFTER COMPLETION OF THE ORGANIZATION'S ANNUAL AUDIT, THE CEO, COO, AND CONTROLLER GATHER INFORMATION TO COMPLETE THE FORM 990 WHICH IS APPROVED BY THE BOARD FOR ACCURACY PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C ALL STAFF AND BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY DISCLOSURE FORM AT THE TIME OF BEGINNING SERVICE AT RISING TIDE CAPITAL. DISCLOSURE FORMS ARE REVIEWED BY THE GOVERNANCE COMMITTEE AND REQUIRED TO BE RENEWED ANNUALLY, OR AT ANY POINT THAT A NEW POTENTIAL CONFLICT EMERGES. FORM 990, PART VI, SECTION B, LINE 15 RISING TIDE CAPITAL USES ANNUALLY UPDATED MARKET RESEARCH ABOUT NONPROFIT COMPENSATION FOR ORGANIZATIONS OF SIMILAR SIZE, MISSION, AND GEOGRAPHIC LOCATION PUBLISHED BY ORGANIZATIONS SUCH AS CANDID, PROPUBLICA AND THE COUNCIL OF NONPROFITS. THE DATA INFLUENCES DECISION-MAKING REGARDING COMPENSATION LEVELS ASSESSED DURING THE ANNUAL PERFORMANCE PERIOD. THE BOARD EXECUTIVE COMPENSATION TASK FORCE ANNUALLY REVIEWS THE PERFORMANCE OF THE CEO AND COO AND UTILIZES APPROPRIATE MARKET DATA TO DETERMINE EXECUTIVE COMPENSATION. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 18 GUIDE STAR FORM 990, PART VI, SECTION C, LINE 19 RISING TIDE CAPITAL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 1,352,621. MANAGEMENT AND GENERAL EXPENSES 7,618. FUNDRAISING EXPENSES 250,882. TOTAL EXPENSES 1,611,121. FORM 990, PART XI, LINE 9: CREDIT LOSS EXPENSE -316,154. BAD DEBT EXPENSE -46,000. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS FOR THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.