THE IDA AND ASSET BUILDING COLLABO… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

MARQUITA ROBERTSON

Phone

9192838922

Tax Period

2023-01-01 to 2023-12-31

THE IDA AND ASSET BUILDING COLLABORATIVE OF NORTH CAROLINA, founded in 2002, is a small nonprofit in the Human Services sector that reported $181K in total revenue in fiscal year 2023.

Mission

THE COLLABORATIVE'S MISSION IS TO CLOSE THE WEALTH GAP IN NORTH CAROLINA. WE ADVOCATE ON BEHALF OF FINANCIALLY VULNERABLE COMMUNITIES BY COLLABORATING WITH FINANCIAL INSTITUTIONS, NONPROFITS, AND LOCAL GOVERNMENT AGENCIES ACROSS THE STATE TO EDUCATE PEOPLE ON BUILDING WEALTH. WE BELIEVE EVERYONE REGARDLESS OF THEIR SKIN COLOR, PHYSICAL ABILITIES, OR FINANCIAL CIRCUMSTANCES DESERVES AN EQUAL OPPORTUNITY TO BUILD WEALTH.

Program Service Accomplishments

Program 1

Expenses: $15,071 Revenue: $1,400

PATHWAYS TO PROSPERITY CONFERENCE:EVERY OTHER YEAR, THE PATHWAYS TO PROSPERITY CONFERENCE - IN PARTNERSHIP WITH NORTH CAROLINA A & T STATE UNIVERSITY COOPERATIVE EXTENSION AND THE UNIVERSITY OF NORTH CAROLINA CENTER - BRINGS TOGETHER PROFESSIONALS WORKING TO ENSURE THAT EVERYONE IN OUR STATE HAS A CLEAR PATH TO FINANCIAL STABILITY, WEALTH, AND PROSPERITY. AS THE ONLY EVENT OF ITS KIND IN NORTH CAROLINA TO ADDRESS THE ENTIRE RANGE OF MOMENTS THAT AFFECT AN INDIVIDUAL'S OR FAMILY'S FINANCIAL WELL-BEING, THE CONFERENCE OFFERS SESSIONS ABOUT CONSUMER FINANCE ISSUES, EXPANDING ACCESS TO SAFE AND AFFORDABLE BANKING, HOMEOWNERSHIP, ACCESS TO BROADBAND, STRATEGIES TO CLOSE THE RACIAL WEALTH DIVIDE, THE INTEGRATION OF FINANCIAL CAPABILITY SERVICES AND MORE. THE CONFERENCE REACHED 75 FINANCIAL EMPOWERMENT PROFESSIONALS.

Program 2

Expenses: $70,064 Revenue: $0

PROSPERITY FOR ALL - AMERICORPS VISTA:EACH YEAR THE COLLABORATIVE PLACES FULL-TIME, PAID, VOLUNTEERS AT NONPROFITS ACROSS NORTH CAROLINA TO BUILD CAPACITY WITHIN THEIR PROGRAMS FOR A YEAR, ALSO KNOWN AS OUR AMERICORPS VISTA, IS IN THE RECRUITING AND PLACEMENT PHASE. VISTAS THAT SERVED IN 2023 VISTAS WERE VERY IMPACTFUL, LAUNCHING SEVERAL STATEWIDE INITIATIVES AND SURPASSING ALL OUTREACH GOALS. OVER THE YEAR, THE COLLABORATIVE PLACED 13 VISTAS IN COMMUNITIES ACROSS THE STATE.

Program 3

Expenses: $25,117 Revenue: $0

BANK ON NORTH CAROLINA: BANK ON NORTH CAROLINA IS OUR STATEWIDE PROGRAM DESIGNED TO PROVIDE EVERYONE WITH ACCESS TO A SAFE AND AFFORDABLE BANK ACCOUNT. SINCE OUR LAUNCH, THE COLLABORATIVE HAS HOSTED EVENTS AND CONNECTED WITH 546 PEOPLE REGARDING BANK ON NC. BANK ON NC HAS 29 LOCAL PARTNER ORGANIZATIONS. OUR MOST RECENT CONVENINGS WERE IN PARTNERSHIP WITH THE NC COOPERATIVE EXTENSION AND THE NC BANKERS' ASSOCIATION. THROUGH THIS INITIATIVE, THE COLLABORATIVE REACHED 117 INDIVIDUALS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $179,534

Program Service Revenue $1,400

Investment Income $197

Other Revenue $0

TOTAL REVENUE $181,131

Expense Breakdown

Grants Paid $0

Salaries & Benefits $110,140

Fundraising Expenses $3,352

Program Expenses $121,305

Other Expenses $68,113

TOTAL EXPENSES $178,253

Year-over-Year Comparison

	2023	2022	Change
Revenue	$181,131	$176,505	+0.0%
Expenses	$178,253	$167,556	+0.1%
Net Income	$2,878	$8,949	-0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$102,018

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATI SESSOMS	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
LATASHA BEST-GADDY	TREASURER	2.00	Officer Director	$0	$0	$0
CATHERINE JARBOE	SECRETARY	2.00	Officer Director	$0	$0	$0
TAMEKA REED	DIRECTOR	2.00	Director	$0	$0	$0
BRONWYN LUCAS	DIRECTOR	2.00	Director	$0	$0	$0
TIFFANY GLADNEY	DIRECTOR	2.00	Director	$0	$0	$0
MARQUITA ROBERTSON	EXECUTIVE DIRECTOR	40.00	Officer	$98,094	$3,924	$102,018

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$181,131	$178,253	$256,598	$2,878
2022	$176,505	$167,556	$263,220	$8,949
2021	$191,945	$186,520	$226,517	$5,425
2020	$270,824	$185,162	$245,864	$85,662
2019	$208,468	$158,177	$134,899	$50,291

THE IDA AND ASSET BUILDING COLLABORATIVE OF NORTH CAROLINA