2025-04-17T18:00:48-05:00 2024-06-30 946214841 ARMANINO ADVISORY LLC 50 W SAN FERNANDO ST STE 500 SAN JOSE CA 95113 990 2023-07-01 454127501 ACCION OPPORTUNITY FUND INC ACCI 4082970204 111 WEST ST JOHN STREET 800 SAN JOSE CA 95113 DAVID COULTAS CHIEF FINANCIAL & OPERATING OFFICER 4082970204 2025-04-17 1 1 MATTHEW PETROSKI P00853132 4082006400 2025-04-17 2023 2025-03-06 01:10:19Z DAVID COULTAS 111 WEST ST JOHN STREET 800 SAN JOSE CA 95113 248043 0 X HTTPS://AOFUND.ORG/ X 2011 DE TO ASSIST IN BUILDING WORLD CLASS MICROFINANCE INSTITUTIONS (SEE SCHEDULE O FOR CONTINUATION)IN THE UNITED STATES TO ENHANCE ECONOMIC DEVELOPMENT AND INDIVIDUALS' SELF SUFFICIENCY THROUGH INCREASING ACCESS TO CREDIT AND OTHERWISE PROMOTING FINANCIAL INCLUSION AND FINANCIAL HEALTH THROUGH TRAINING AND MENTORING FOR MEMBERS OF LOW-TO-MODERATE INCOME COMMUNITIES. 19 18 0 19 0 0 11028 7947 10000 0 175096 240096 0 0 196124 248043 644000 0 0 0 0 0 0 0 0 1337576 677415 1981576 677415 -1785452 -429372 5704404 4468032 807000 0 4897404 4468032 X ACCION OPPORTUNITY FUND. INC. (AOF) WAS INCORPORATED ON DECEMBER 7, 2011. THE MISSION OF AOF IS TO ASSIST IN BUILDING WORLD CLASS MICROFINANCE INSTITUTIONS IN THE UNITED STATES TO ENHANCE ECONOMIC DEVELOPMENT AND INDIVIDUALS' SELF SUFFICIENCY THROUGH (SEE SCH. O) INCREASING ACCESS TO CREDIT AND OTHERWISE PROMOTING FINANCIAL INCLUSION AND FINANCIAL HEALTH THROUGH TRAINING AND MENTORING FOR MEMBERS OF LOW-TO-MODERATE INCOME COMMUNITIES. 0 0 677415 ACCION ENVISIONS A WORLD IN WHICH HARD WORKING ENTREPRENEURS HAVE THE FINANCIAL ACCESS AND TOOLS THEY NEED TO IMPROVE THEIR LIVES AND ENHANCE THE WELL-BEING OF THEIR FAMILIES, COMMUNITIES AND LOCAL ECONOMIES FOR YEARS TO COME. ACCION OPPORTUNITY FUND, INC. WAS FORMED IN 2011 TO ELEVATE AND SUPPORT THE WORK OF ITS MEMBERS AS WELL AS OTHER LEADING MICRO LENDERS ON A NATIONAL SCALE. PRIORITY STRATEGIES FOR REALIZING THIS ARE AS FOLLOWS: PROPELLING THE FLOW OF RESOURCES, SUPPORT, TOOLS AND INFORMATION TO ALL MEMBER AND NON-MEMBER MICROFINANCEORGANIZATIONS - INCLUDING FUNDRAISING, TRAINING AND EDUCATION, MEDIA. PARTNERSHIP AND PROGRAMMATIC OPPORTUNITIES- TO ENCOURAGE THEIR DEVELOPMENT, INCREASING ACCESS TO CREDIT AND OTHERWISE PROMOTING FINANCIAL INCLUSION AND FINANCIAL HEALTH THROUGH TRAINING (SEE SCH. O)AND MENTORING FOR MEMBERS OF LOW-TO-MODERATE INCOME COMMUNITIES. 677415 1 0 0 0 0 0 0 0 0 0 0 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 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 0 0 AR CA FL GA IL MA MD MI NJ NM NY NC PA VA AL HI KS KY MN MS NH ND OR RI SC TN WV WI X X KATE LAWRENCE 6506139311 111 W ST JOHN ST SUITE 800 SAN JOSE CA 95113 LUZ LOPEZ URRUTIA CHIEF EXECUTIVE OFFICER 3.00 37.00 X X 0 408275 20346 GREG AVIS BOARD CHAIR 1.50 1.50 X X 0 0 0 CARETHA COLEMAN VICE CHAIR 1.50 1.50 X X 0 0 0 MICKEY KONSON TO DEC 2023 DIRECTOR & SECRETARY 1.50 1.50 X X 0 0 0 ESTEBAN ALTSCHUL DIRECTOR 1.50 1.50 X 0 0 0 TODD BAKER DIRECTOR 1.50 1.50 X 0 0 0 SWATI BHATIA DIRECTOR 1.50 1.50 X 0 0 0 PHIL BLACK DIRECTOR 1.50 1.50 X 0 0 0 DICKSON CHU DIRECTOR 1.50 1.50 X 0 0 0 SOLANA COZZO DIRECTOR 1.50 1.50 X 0 0 0 JONI CROPPER DIRECTOR 1.50 1.50 X 0 0 0 DEBRA ENGEL DIRECTOR 1.50 1.50 X 0 0 0 MADELEINE FACKLER DIRECTOR 1.50 1.50 X 0 0 0 BRIAN GRAHAM DIRECTOR 1.50 1.50 X 0 0 0 PARKER HUDNUT DIRECTOR 1.50 1.50 X 0 0 0 LATA KRISHNAN DIRECTOR 1.50 1.50 X 0 0 0 JUANITA LOTT DIRECTOR 1.50 1.50 X 0 0 0 SAM RAMOS DIRECTOR 1.50 1.50 X 0 0 0 MICHAEL SCHLEIN DIRECTOR 1.50 1.50 X 0 0 0 DIANA TAYLOR DIRECTOR 1.50 1.50 X 0 0 0 JIM KOSHLAND TO AUG 2023 DIRECTOR 1.50 1.50 X 0 0 0 DAVID COULTAS EVP & CFO 3.00 37.00 X 0 231626 19063 MICHAEL RAPAPORT PRESIDENT, COO 1.50 38.50 X 0 255243 31883 CHRISTOPHER PILKERTON CHIEF LEGAL & REGULATORY STRATEGY OFFICER 0.25 39.75 X 0 335072 33145 0 1230216 104437 0 0 1 0 0 7947 7947 240096 240096 248043 0 0 240096 INTER-CO SERVICE EXPENS 677415 677415 677415 677415 0 0 19847 4468032 292053 3242 11665 5377597 5704404 4468032 807000 807000 0 X 4234094 4468032 663310 0 4897404 4468032 5704404 4468032 -429372 0 X 0 1 X 1 0 X 5437578 6243469 4909087 11028 7947 16609109 5437578 6243469 4909087 11028 7947 16609109 11022130 5586979 95999 1038 995 175096 240096 513224 17122333 449610 0.32630 0.36910 X 0 X PART X, LINE 2: AOF AND AOFCD ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 50L(C) (3) OF THE INTERNAL REVENUE CODE. IN ADDITION, AOF AND AOFCD QUALIFY FOR CHARITABLE CONTRIBUTION DEDUCTIONS AND HAVE BEEN CLASSIFIED AS ORGANIZATIONS THAT ARE NOT PRIVATE FOUNDATIONS. INCOME WHICH IS NOT RELATED TO EXEMPT PURPOSES LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. THE ORGANIZATION HAD NO UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2024. AOF IS EXEMPT FROM NEW YORK STATE INCOME TAXES UNDER SECTION 102 OF THE NOT-FOR-PROFIT CORPORATION LAW. AOF MAY BE LIABLE FOR INCOME TAXES BASED ON INCOME EARNED IN OTHER STATES AND IN WHICH IT HAS NOT YET APPLIED FOR EXEMPTION. AS OF JUNE 30, 2024, AOF ASSESSED THE AMOUNT OF STATE TAXES, IF ANY, TO BE IMMATERIAL TO ITS FINANCIAL STATEMENTS AND DID NOT ACCRUE ANY TAX LIABILITY IN ITS STATEMENT OF FINANCIAL POSITION. THE ORGANIZATION IS SUBJECT TO POTENTIAL EXAMINATION BY TAXING AUTHORITIES FOR INCOME TAX RETURNS FILED IN THE U.S. FEDERAL JURISDICTION, THE STATE OF CALIFORNIA, AND THE STATE OF NEW YORK. THE TAX YEARS THAT REMAIN SUBJECT TO POTENTIAL EXAMINATION FOR THE U.S. FEDERAL JURISDICTION ARE YEARS ENDED JUNE 30, 2021, AND FORWARD. THE STATE OF CALIFORNIA AND NEW YORK TAX JURISDICTIONS ARE SUBJECT RO POTENTIAL EXAMINATION FOR YEARS ENDED JUNE 30, 2020 AND FORWARD. AS OF JUNE 30, 2024, MANAGEMENT DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS. 0 0 0 0 0 0 0 0 0 LUZ LOPEZ URRUTIA CHIEF EXECUTIVE OFFICER 0 355775 0 52500 0 0 0 12200 0 8146 0 428621 0 0 CHRISTOPHER PILKERTON CHIEF LEGAL & REGULATORY STRATEGY OF 0 284087 0 50985 0 0 0 12200 0 20945 0 368217 0 0 MICHAEL RAPAPORT PRESIDENT, COO 0 191125 0 37080 0 27038 0 12200 0 19683 0 287126 0 0 DAVID COULTAS EVP & CFO 0 216626 0 15000 0 0 0 0 0 19063 0 250689 0 0 PART I, LINE 3 A RELATED ORGANIZATION, ACCION OPPORTUNITY FUND COMMUNITY DEVELOPMENT, COMPENSATED OFFICERS. THE METHODS USED BY THE RELATED ORGANIZATION TO ESTABLISH THE COMPENSATION INCLUDE: COMPENSATION SURVEY OR STUDY FORM 990 OF OTHER ORGANIZATIONS APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION ARE THOSE INDIVIDUALS SERVING FROM TIME TO TIME AS MEMBERS OF THE BOARD OF DRECTORS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE NUMBER OF DIRECTORS ON THE BOARD OF DIRECTORS (THE "DIRECTORS, AND EACH A "DIRECTOR") SHALL BE FIXED EXCLUSIVELY BY THE BOARD OF DIRECTORS PURSUANT TO A RESOLUTION ADOPTED BY TWO-THIRDS OF THE BOARD OF DIRECTORS THEN AUTHORIZED. EACH DIRECTOR SHALL BE ELECTED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE VOTES CAST AT A MEMBER MEETING AT WHICH A QUORUM IS PRESENT. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE OF ACCION OPPORTUNITY FUND COMMUNITY DEVELOPMENT, A RELATED CALIFORNIA NONPROFIT ORGANIZATION, SHALL HAVE THE RESPONSIBILITY FOR REVIEWING THE ORGANIZATION'S FORM 990 (INCLUDING ALL PERTINENT SCHEDULES) BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. ONCE THE AUDIT COMMITTEE HAS APPROVED THE DRAFT FORM 990, IT SHALL BE SENT TO ALL MEMBERS OF THE BOARD OF DIRECTORS FOR THEIR REVIEW, PRIOR TO FILING WITH THE IRS. ONCE THE REVIEW PERIOD HAS BEEN DULY EXPIRED, THE FORM 990 IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY WAS APPROVED BY THE BOARD OF DIRECTORS ON DECEMBER 11, 2011 AND AMENDED IN 2012. THE BOARD ADOPTED TWO SUPPLEMENTARY POLICIES POR ITS CONFLICT OF INTEREST POLICY AT ITS AUGUST 9, 2012 BOARD MEETING, WHICH ARE AS FOLLOWS. CONFLICT OF INTEREST FORMS ARE SIGNED ANNUALLY. APPROVAL OF PROCEDURES FOR EVALUATING INTERESTED TRANSACTIONS: IN FURTHERANCE OF THE CONFLICT OF INTEREST POLICY OF THE COMPANY, THE COMPANY PROPOSES THAT WHEN THE BOARD EVALUATES A POTENTIAL INTERESTED TRANSACTION WHERE A MORE ADVANTAGEOUS TRANSACTION FOR THE COMPANY IS NOT REASONABLY POSSIBLE THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THAT THE BOARD DETERMINE BY A MAJORITY VOTE OF DISINTERESTED DIRECTORS WHETHER SUCH TRANSACTION OR ARRANGEMENT IS IN THE COMPANY'S BEST INTEREST, FOR ITS OWN BENEFIT AND WHETHER SUCH TRANSACTION IS FAIR AND REASONABLE. A LIST OF ALL OUR VENDORS IS PROVIDED WITH THE COI FORMS IN ORDER TO HELP THE BOARD MEMBERS MORE EASILY DETERMINE POSSIBLE CONFLICTS OF INTEREST. APPROVAL OF ANNUAL REVIEW OF COMPANY TRANSACTIONS: IN FURTHERANCE OF THE CONFLICT OF INTEREST POLICY OF THE COMPANY, THE COMPANY PROPOSES THAT ANNUALLY, THAT THE AUDIT COMMITTEE REVIEW THE COMPANY'S PARTNERSHIPS AND CONTRACTS WITH ITS MEMBERS, DIRECTORS, OFFICERS AND THEIR AFFILIATES TO DETERMINE THAT SUCH CONTRACTS AND PARTNERSHIPS CONFORM TO THE COMPANY'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENTS OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFITS OR IN AN EXCESS BENEFIT TRANSACTION FOR THE COMPANY. FORM 990, PART VI, SECTION B, LINE 15A THE OFFICERS AND KEY EMPLOYEES OF THIS ORGANIZATION ARE COMPENSATED BY A RELATED ORGANIZATION, ACCION OPPORTUNITY FUND COMMUNITY DEVELOPMENT (AOFCD). AOFCD USES A MARKET BASED SALARY STRUCTURE FROM 4 (FOUR) COMPETITIVE SETS: NON-PROFIT, FINANCIAL SERVICES-BANKS, FINANCIAL SERVICES-CREDIT UNION, AND FINTECH BASED ON SIZE, REVENUE, INDUSTRY, AND GEOGRAPHIC LOCATION TO CREATE MIN/MID/MAX RANGES FOR EACH ROLE. HUMAN RESOURCES REVIEWS EXTERNAL MARKET DATA ANNUALLY. THE BOARD OF DIRECTORS VOTES ON THE CEO'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 AOF MAKES ITS FORM 990 AND 1023 AVAILABLE UPON REQUEST ACCION OPPORTUNITY FUND COMMUNITY DEVELOPMENT 111 WEST ST JOHN STREET STE 800 SAN JOSE CA 95113 311719434 SMALL BUSINESS LENDING AND NEW MARKET TAX CREDIT CA 501(C)(3) LINE 7 ACCION OPPORTUNITY FUND 1 LCD NEW MARKETS FUND XXII 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 471131031 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXIII 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 471146746 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXIV 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 471151234 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXV 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 814931866 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXVI 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 814959450 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXVII 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 814987352 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXVIII 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 815019797 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXIX 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 815030853 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXX 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 815047591 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXXI 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 842183852 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXXII 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 842239967 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXXIII 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 842245040 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXXIV 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 842264312 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXXV 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 842275554 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXXVII 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 842351711 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND LLC 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 161666636 ATTRACT CAPITAL TO REAL ESTATE IN LOW INCOME AREAS DE N/A 0 0 LCD NEW MARKETS FUND XXXVI 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 842313746 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXXVIII 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 873466204 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XL 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 882039128 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XLI 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 882065471 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XLII 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 882115282 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 LCD NEW MARKETS FUND XXXIX 111 WEST ST JOHN STREET SUITE 800 SAN JOSE CA 95113 873474224 PROVIDES LOANS IN LOW INCOME COMMUNITIES DE N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 ACCION OPPORTUNITY FUND COMMUNITY DEVELOPMENT P 677415 FMV