RISE ECONOMY

Financials

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

Address and contacts

Address (IRS master file)

77 VAN NESS AVE STE 101 PMB 1312, SAN FRANCISCO, CA 94102-6042

Principal officer (990 for 2024)

Paulina Gonzalez-Brito, 77 Van Ness Ave Suite 101-1312, San Francisco, CA 94102

Signed the 990

Paulina Gonzalez-Brito, CEO

Phone

(415) 864-3980

Website

www.rise-economy.org

Return prepared by

Iryna AC

California records

California keeps its own records of charities and corporations. Search them by EIN 94-3153815 or by the name RISE ECONOMY.

Attorney General, Registry of Charities and Fundraisers

Registration status and filed reports (CT-TR-1, RRF-1)

Secretary of State, bizfile Online

Corporation status, entity number, agent for service

Franchise Tax Board

Entity status letter (state tax exemption, good standing)

Mission

The Organization works to build an inclusive and fair economy that meets the needs of low-income communities and communities of color by disrupting systems of oppression. The Organization is the largest statewide community reinvestment coalition in the country, with over 300 member organizations across California that provide services to thousands of Californians. The members include affordable housing developers, community development financial institutions, housing counseling agencies, small business technical assistance providers, legal services agencies, and community-based organizations.

Program accomplishments

• Resilience FundThe Resilience Loan Fund bolsters the lending capacity of emerging and aspiring nonprofit Community Development Financial Institutions (CDFIs). Born out of a community response to the lack of government and inadequate financial institution pandemic support and the financial hardships experienced by communities of color during the COVID pandemic, we launched the Resilience Fund in 2021. To date, the Resilience Fund has provided a cohort of 11 BIPOC-led emerging CDFIs with grant funding, capacity building, technical assistance, and peer learning to help them progress along their journey toward CDFI certification. Our Resilience Fund Cohort Members serve thousands of low-income small business owners and micro-entrepreneurs across a diverse geographical span of 22 counties in the San Francisco Bay Area, Southern California, Inland Empire, and Central Valley. In 2024, Rise Economy started an LLC the Rise Economy Resilience Loan Fund - as the future direction of this initiative and our strategic solution to the capital deficit faced by our Cohort Members. To qualify for CDFI certification, applicants must demonstrate their capacity to manage a loan portfolio of $100,000 to $250,000. Our primary objective, therefore, is to make capital available to our current cohort of 11 emerging or aspiring CDFIs to build consumer, micro and small business loan funds. Should additional lending capital remain, we will extend our support to other fledgling CDFIs in California. The fund pools resources from banks, foundations, and other philanthropic partners in order to provide operating grants and forgivable loans or investments. Rise Economy manages the Resilience Loan Fund, with governance by a seasoned Loan Committee that evaluates and approves all loan applications.
  Expenses $966,287
• Advancing CitiesFrom 2020-2024, Rise Economy leveraged the knowledge and expertise of our Economic Wellness Promotores to spearhead our participation in the Open Air Economy Collaborative, an LA-based partnership between Inclusive Action for the City, East LA Community Corporation, Public Counsel and Rise Economy. Supported by a three-year Advancing Cities grant from JP Morgan Chase, this innovative program provided holistic business support in the form of capital, business coaching, legal assistance and financial education to Black and Latinx street vendors and other micro-entrepreneurs.
  Expenses $445,600
• Housing JusticeRise Economy advances campaigns that will increase BIPOC communities access to low-cost capital for affordable housing, hold corporate landlords accountable for tenant protections, and address the growing insurability crisis that threatens to derail progress on affordable housing throughout the state. Rise Economys current work boldly shifts the narrative - centering corporate accountability in tackling Californias housing and climate crises, and advancing policy strategies to increase banking sector investment in affordable housing and BIPOC homeownership. These strategies, described below, can generate significant resources and data to address the state's affordable housing crisis, stabilize neighborhoods, and build climate resilience. Rise Economys current affordable housing-related campaigns and projects include:- State Community Reinvestment Act (CA CRA): Rise Economy and its members are leading a statewide organizing effort to establish a California Community Reinvestment Act. We estimate that the financial institutions not currently subject to federal CRA obligations have the potential to reinvest upwards of $15.3 billion per year for affordable housing and economic development in California. In 2024 Rise published a policy brief and is currently building support for a policy campaign for the California CRA.- LLC Owner Transparency: Increasing consolidation of rental property ownership in shell companies is creating regional real estate monopolies. Investors with all-cash offers outbid first-time homebuyers and small landlords, robbing families of opportunities to build intergenerational wealth. Large entities are worse landlords and aggressive evictors of tenants, and their business model disincentivizes upkeep of properties - allowing the already limited affordable housing stock to fall into disrepair and code violations. Without requiring disclosure of the name of the company owner, California inadvertently shields powerful bad actors in the rental market. Rise Economy is building a strong coalition of allies to join the push for LLC ownership transparency. - Financing for Community Land Trusts: In recent years we have partnered with the California Community Land Trust Network to negotiate $65M in bank commitments to CLTs. A current priority is partnering with the Community Ownership for Community Power Fund, brokering conversations with banks to invest some of these CLT commitments through COCPs Integrated Capital Fund.
  Expenses $418,309
• Small Business & JobsRise Economy leverages the Community Reinvestment Act (CRA), bank merger processes, and relationships with banks to harness more capital for communities historically excluded from wealth building through Community Benefit Agreements (CBAs). For example, in some CBAs banks have committed resources to Special Purpose Credit Programs that create loan opportunities for BIPOC small business owners. We also work with banks to encourage them to make smaller loans - under $250K in order to serve more people in low-income communities of color seeking loans for businesses; and encourage banks to invest in Community Development Finance Institutions (CDFIs) that can make even smaller loans in low-income communities.
  Expenses $320,327
• Family Economic Security (Economic Wellness Promoters)Recognizing that financial education programs are often inaccessible to low-income groups, Rise Economy developed an innovative trauma-informed approach to financial wellness that is based on the Promotores peer-to-peer community health education model. Rise Economys Promotores are frontline workers who have received specialized training on increasing peoples' financial capability and share the lived experience of people in the communities they serve. Through creating a trusted relationship, Promotores help low-income families and individuals improve their understanding of and access to safe, affordable financial products while sharing strategies that build and sustain household economic security. Instead of presenting cookie-cutter informational events, Promotores function more as small team leaders who can pace workshops to focus on individuals, answer specific questions, and provide information tailored to the participants needs. They are also bilingual, facilitating effective communication with Spanish-speaking participants. This highly empathetic approach to financial counseling is often lacking in "one-size-fits-all" financial literacy programs.This program started in Los Angeles then expanded to the Bay Area, Sacramento and Central Valleys. From 2020-2024, Promotores provided online workshops and training to over 1900 individuals throughout California. Eighty percent of individuals participating in the workshops were women and 83% identify as Hispanic/Latino. Promotores started workshops by addressing the inherent stigma and shame people experience when faced with financial stress through a trauma-informed approach. From there, they helped participants develop household budgets, learn about various safe and affordable financial products, gain a deeper understanding of the impacts of payday lenders, and develop plans to get out of debt cycles. This program was primarily funded by a 3-year grant, and was phased out at the end of 2024.
  Expenses $258,763
• Program GeneralProgram General captures Rise Economys ongoing mission-focused policy advocacy activities, including annual meetings in Sacramento with lawmakers and their staff. Each year we organize a large group of member organizations to participate in these meetings, educate policy makers about the economic needs of communities around the state, and advocate for solutions to the racial wealth gap. Program General also includes expenses for emerging programmatic work of Rise Economy that may or may not grow into a new program with project-restricted funding.
  Expenses $164,289
• Alternative FinanceA vibrant public banking movement has been sweeping across the U.S. Public banks aim to democratize financial systems, ensuring that a community's money serves the public good. Unlike their Wall Street counterparts, public banks enable local governments to divest from institutions that do not align with their values and instead invest in initiatives promoting equity, health, prosperity, and well-being for individuals, families, and communities. These investments will include affordable housing, infrastructure, green energy, and small businesses - all contributing to sustainable local economies. Rise has been a key partner in the development of the Public Bank East Bay (PBEB), a community-governed public bank that will lend, invest, and leverage public funds to meet and address underserved public needs. It will serve Alameda County, the city of Richmond, and other cities in both Alameda and Contra Costa Counties. Rise Economy is also in the early stages of research and organizing for a State Public Bank, with the vision of supporting municipalities by lowering borrowing costs, increasing credit, and helping fund key projects in infrastructure, affordable housing, and renewable energy. This is particularly important for rural and tribal areas that are banking deserts and have historically struggled to access investment dollars for community economic development and infrastructure. A public bank could tackle Californias housing crisis and safeguard local economies during downturns and disaster recovery by keeping resources within our communities instead of with Wall Street banks.
  Expenses $90,336 · revenue $26,550
• Corporate Accountability/Climate ActionIn 2024, Rise Economys Corporate Accountability program became more focused on the climate crisis and the insurance industry. California has been increasingly plagued by extreme weather events, including wildfires, extreme heat, flooding, and drought. Bluelining is an emerging practice in which financial institutions increase prices of or withdraw services (such as insurance, credit, and banking) from regions they perceive to be at high environmental risk. Bluelining is often discussed as the new redlining because neighborhoods with a legacy of redlining face growing exposure to climate-related damage that leaves them vulnerable to other financial risks. Currently, major insurers like State Farm and Allstate have stopped offering new homeowners insurance policies in California, citing the growing risks and financial untenability of providing coverage in the state.Many of Rise Economys members are affordable housing developers facing unprecedented challenges due to the skyrocketing cost of insurance. The staggering rate increases add to the mounting costs faced by affordable housing developers in California, many of whom are Rise Economy members. To address this growing crisis, in 2024 we began a statewide research, advocacy, and media strategy or campaign for Rise Economy and its members to amplify low-income community voices regarding the need for financial institutions and regulators to consider climate risk a systemic risk and take action accordingly so that homeowners, renters, and low-wealth communities in particular aren't left holding the bag.
  Expenses $62,687
• Access to Capital A new program established in late 2024 called Access to Capital will strengthen our statewide network and increase local community engagement with future CBA processes, especially in underinvested areas in Californias Central Valley and tribal areas. By increasing the negotiating skills and power of local groups, there is potential to leverage more sizable community reinvestment commitments in underserved parts of the state for years to come. Working with trusted local partners, Rise Economy will organize and deliver CRA trainings to local member organizations in the Central Valley and other rural and tribal areas of the state. Through this work, Rise Economy will also expand its membership of community-based organizations throughout the state.
  Expenses $7,696

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

IRS record

EIN

94-3153815

Tax-exempt status

501(c)(3): Charitable, religious, educational or scientific organization

Foundation status

Publicly supported organization (170(b)(1)(A)(vi))

Donations deductible (Pub 78)

Public charity, 50% deduction limit

Exempt since

1992

Accounting year ends

December

Files

Form 990 or 990-EZ

Category (NTEE)

Unknown (Z99Z)

Assets (IRS master file)

$3,341,061

Income (IRS master file)

$2,490,563

Filing history

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 94-3153815).

Questions about RISE ECONOMY

What is the EIN of RISE ECONOMY?

The employer identification number (EIN) of RISE ECONOMY is 94-3153815.

Is RISE ECONOMY tax-exempt?

Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1992.

Are donations to RISE ECONOMY tax-deductible?

Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).

Which annual return does RISE ECONOMY file?

Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.

When is the next return of RISE ECONOMY due?

The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.

When did RISE ECONOMY last file with the IRS?

The latest return in the IRS public files is the 990 for the year ended December 2024.

Who is the principal officer of RISE ECONOMY?

The 990 for the year ended December 31, 2024 names Paulina Gonzalez-Brito.

Who are the officers and directors of RISE ECONOMY?

The 990 for the year ended December 31, 2024 lists 16 people; 6 received compensation from the organization, the highest $208,139 (Paulina Gonzalez-Brito, CEO).

How much revenue does RISE ECONOMY have?

On its 990 for the year ended December 31, 2024 it reported revenue of $2,477,025, expenses of $2,996,330 and total assets of $3,341,061 at year end.

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