2024-11-15T02:09:50-00:00 2023-12-31 431794646 WELCH & ASSOCIATES LLC 2405 GRAND BOULEVARD SUITE 1040 KANSAS CITY MO 64108 990 2023-01-01 412183377 ALTCAP ALTC 8162161851 300 EAST 39TH STREET SUITE 3G KANSAS CITY MO 64111 RICHARD VOHS VP FINANCE 8162161851 2024-11-15 true true BRIAN D WELCH P00177410 8167562620 2024-11-15 2023 2024-10-15 13:58:12Z X RUBEN ALONSO III 300 East 39th Street Suite 3G Kansas City MO 64111 7554160 false X WWW.ALT-CAP.ORG X 2005 MO See description on Page 2, Part III, Line 1 8 8 23 0 4755795 4907831 1950803 2646329 36813 0 13000 0 6756411 7554160 1576467 42500 0 1676038 1897966 0 305154 1988764 2068028 5241269 4008494 1515142 3545666 30256354 28600219 12845783 10700888 17410571 17899331 To be a catalyst for investment in Kansas City metropolitan communities throught innovative financial products, targeted economic and community development programming, and the development of strategic partnerships that promote community collaboration and capacity building. false false 2062475 1508890 Lending In 2022, the Organization continued to deploy needed financing to underserved and overlooked entrepreneurs. The Organization was able expand its reach to more communities and serve more entrepreneurs, providing access to capital to support new, small business creation as well as support the growth of existing small businesses. In addition to small business and micro loans, the Organization increased the availability, accessibility and flexibility of its capital by offering revenue-based financing loans to entrepreneurs. 463454 52566 Small Business Development The Organization provides in-kind service/resources to an affiliate organization that invest in innovative and measurable community development that aligns with and strengthens the financial, human, and social capital of under-resourced neighborhoods in the Kansas City metropolitan region. In 2022, our affiliate organization deployed more than 3 million to neighborhood small businesses to assist with their recovery efforts after the economic impact of COVID-19. The Organizations continued to offer small businesses technical assistance directly as well as indirectly through partner entrepreneurship support organizations. 132908 1137439 New Market Tax Credits Since 2008, the Organization has participated in a federal tax credit program that is used to stimulate investment in economically distressed communities. The Organization cumulatively has deployed 213 million in New Market Tax Credits allocation which were used to finance job creating businesses and as a catalyst for real estate development projects in Kansas City metro area. 2658837 false true false false false false false false false true false true true true 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 true false false false true X 38 0 23 true false false false false false false false false false false false false X 8 8 false false false false false false false true false false false true true true true false true true true false X RICHARD VOHS 8162161851 3200 WAYNE AVENUE KANSAS CITY MO 64109 DAVID RAMIREZ MARKET PRESIDENT 040.00 X 196049 0 25000 RUBEN ALONSO III PRESIDENT 040.00 005.00 X 190479 0 20000 RICHARD VOHS VP OF FINANCE AND ACCOUNTING 040.00 X 152096 0 15000 CARMEN LOPEZ VP OF LENDING AND CLIENT SERVICES 040.00 X 147979 0 16000 ANTHONY WILLIAMS MARKET PRESIDENT 040.00 X 116154 0 12000 PATRICE BECKER VP OF FINANCE AND ACCOUNTING 040.00 X 109900 0 9000 DAWN KENNEDY DIRECTOR OF LENDING 040.00 X 100137 0 10000 DAVID BRAIN BOARD CHAIR 001.50 X X 0 0 0 ROBERT GIVENS VICE CHAIR/TREASURER 001.50 X X 0 0 0 ED HONESTY JR SECRETARY 001.50 X X 0 0 0 KATIE KWO GERSON DIRECTOR 001.50 X 0 0 0 DONALD HAWKINGS DIRECTOR 001.50 X 0 0 0 MARTHA SALINAS DIRECTOR 001.50 X 0 0 0 CARRECE SCOTT DIRECTOR 001.50 X 0 0 0 BIANCA TILLARD-GATES DIRECTOR 001.50 X 0 0 0 1012794 107000 7 false true false 2585181 2322650 4907831 New Market Tax Credit fees 522299 1137439 1137439 Consumer lending 522291 1508890 1508890 2646329 7554160 2646329 42500 42500 0 0 0 729245 194864 447938 86443 0 983583 639329 295075 49179 28091 18259 8427 1405 31427 20428 9428 1571 125620 81653 37686 6281 0 239499 239499 96515 96515 0 0 352563 210610 13015 128938 0 26636 4327 10161 12148 229544 206544 11500 11500 0 43062 25837 12919 4306 65571 65571 0 0 359855 359855 0 15256 7307 4566 3383 0 Bad debt expense 423443 423443 Lending activities direct costs 134887 134887 Sponsorships 22812 22812 58385 26683 31702 4008494 2658837 1044503 305154 9178660 3592664 4000000 589160 193665 46029 22260 21871 544 389 16412085 17918187 29876 14775 6880539 30256354 28600219 352058 494753 431882 11806771 10151126 255072 55009 12845783 10700888 X 12945655 11044373 4464916 6854958 17410571 17899331 30256354 28600219 3545666 -384939 1146124 -3818091 X false true X true true true RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false 12503 12163 340 9757 9708 49 389 Financial derivatives and other financial products Closely-held equity interests Investment in subsidiaries 1316519 C Loans receivable, less allowance for doubtful accounts 11602903 C Notes receivable 4998765 C 17918187 Restricted Cash for program purposes 6854958 Other assets 51283 Due to others -25702 6880539 Federal income taxes Contingent liability Interest rate subsidy 55009 55009 X 7169221 -384939 -384939 7554160 7554160 4008494 4008494 4008494 X 2 The Corporation accounts for tax positions in accordance with guidance on accounting for uncertaintax positions. Tax positions taken may include positions that the Corporation is exempt from incometaxes or be related to how the Corporation determines its unrelated business income. TheCorporation recognizes the financial statement effects of a tax position only when it believes it canmore likely than not sustain the position upon an examination by the relevant tax authority. true Civic Saint LLC 928 East 77th Terrace Kansas City MO 64131 851638190 2500 working capital Vine Street Brewing LLC 2002 Vine Street Bldg 2A Kansas City MO 64108 863567079 10000 working capital The Next Paige 5930 Troost Avenue Kansas City MO 64110 843386082 25000 working capital H3 Enterprise LLC 9119 East 89th Street Kansas City MO 64138 461858656 2500 working capital CodeAlgo LLC 1000 Progess Drive Suite 952 Liberty MO 64069 882161000 2500 working capital 5 Part II Line 1-5 We do not monitor the use of the award because it was made to provide the donee with working capital and not for a specific use and was awarded as the result of a competive competition. X X false false false false false false false false false RUBEN ALONSO III PRESIDENT 174148 16331 6069 13650 210198 CARMEN LOPEZ VP OF LENDING AND CLIENT SERVICES 147979 4439 11170 163588 RICHARD VOHS VP OF FINANCE AND ACCOUNTING 144596 7500 4639 9896 166631 DAVID RAMIREZ MARKET PRESIDENT 191049 5000 6329 19637 222015 Form 990, Part VI, Section A, Line 8b This question is not applicable because committees cannot bind the Organization without board approval. However, the question must be answered to electronically file. Accordingly, we checked no to signify that the question is not applicable. Form 990, Part VI, Section B, Line 11b The tax return is prepared by an external accountant and reviewed by management. After review by management the return is provided to the full board for review prior to being filed with the IRS. Form 990, Part VI, Section B, Line 12c The Organizations management level employees and its Board of Directors annually review the Standards of Conduct policy. Form 990, Part VI, Section B, Line 15a Compensation was set by the Board of Directors and was based upon a comprehensive review of comparables of peer organizations with similar roles and responsibilities for the President. Form 990, Part V, Section B, Line 15b Compensation was set by the Board of Directors and was based upon a comprehensive review of comparables of peer organizations with similar roles and responsibilities for the VP of Finance.. Form 990, Part VI, Section C, Line 19 The governing documents, conflict of interest policy, financial statements, and Form 990 tax returns are made available upon request. AltCap California 3415 South Sepulveda Blvd Los Angeles CA 90034 874700265 Economic Development CA 501c4 N/A false Equity2 LLC 300 East 39th Street Suite 3G Kansas City MO 64111 842207717 Development MO x Related 6119 1782514 false true 0.99000 false false false false false false false false false false false false false false true false false false false