ALTCAP

EIN: 412183377 Community Improvement

KANSAS CITY, MO

Total Revenue
$7,554,160
Total Expenses
$4,008,494
Total Assets
$28,600,219
Net Assets
$17,899,331
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
MO
Principal Officer
RUBEN ALONSO III
Phone
8162161851
Tax Period
2023-01-01 to 2023-12-31

ALTCAP, founded in 2005, is a community nonprofit in the Community Improvement sector that reported $7.6M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.5M, a strong 47% operating margin.

Mission

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.

Program Service Accomplishments

Program 1
Expenses: $2,062,475 Revenue: $1,508,890

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...

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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.

Program 2
Expenses: $463,454

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...

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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.

Program 3
Expenses: $132,908 Revenue: $1,137,439

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...

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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.

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Trantor Score

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

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,907,831
Program Service Revenue $2,646,329
Investment Income $0
Other Revenue $0
TOTAL REVENUE $7,554,160

Expense Breakdown

Grants Paid $42,500
Salaries & Benefits $1,897,966
Fundraising Expenses $305,154
Program Expenses $2,658,837
Other Expenses $2,068,028
TOTAL EXPENSES $4,008,494

Year-over-Year Comparison

2023 2022 Change
Revenue $7,554,160 $6,756,411 +0.1%
Expenses $4,008,494 $5,241,269 -0.2%
Net Income $3,545,666 $1,515,142 +1.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
23
Volunteers
N/A

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
5
$377,575
Total Directors
8
$0
Key Employees
2
$349,203
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID RAMIREZ MARKET PRESIDENT 040.00
Key Emp
$196,049 $25,000 $221,049
RUBEN ALONSO III PRESIDENT 040.00
Officer
$190,479 $20,000 $210,479
RICHARD VOHS VP OF FINANCE AND ACCOUNTING 040.00
Officer
$152,096 $15,000 $167,096
CARMEN LOPEZ VP OF LENDING AND CLIENT SERVICES 040.00
Highest
$147,979 $16,000 $163,979
ANTHONY WILLIAMS MARKET PRESIDENT 040.00
Key Emp
$116,154 $12,000 $128,154
PATRICE BECKER VP OF FINANCE AND ACCOUNTING 040.00
Highest
$109,900 $9,000 $118,900
DAWN KENNEDY DIRECTOR OF LENDING 040.00
Highest
$100,137 $10,000 $110,137
DAVID BRAIN BOARD CHAIR 001.50
Officer Director
$0 $0 $0
ROBERT GIVENS VICE CHAIR/TREASURER 001.50
Officer Director
$0 $0 $0
ED HONESTY JR SECRETARY 001.50
Officer Director
$0 $0 $0
KATIE KWO GERSON DIRECTOR 001.50
Director
$0 $0 $0
DONALD HAWKINGS DIRECTOR 001.50
Director
$0 $0 $0
MARTHA SALINAS DIRECTOR 001.50
Director
$0 $0 $0
CARRECE SCOTT DIRECTOR 001.50
Director
$0 $0 $0
BIANCA TILLARD-GATES DIRECTOR 001.50
Director
$0 $0 $0
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 $7,554,160 $4,008,494 $28,600,219 $3,545,666
2022 $6,756,411 $5,241,269 $30,256,354 $1,515,142
2021 $6,210,127 $2,701,888 $30,252,059 $3,508,239
2020 $4,586,904 $2,551,292 $20,323,056 $2,035,612
2019 $2,873,960 $1,095,071 $9,766,911 $1,778,889
2018 $2,492,335 $764,474 $7,572,841 $1,727,861
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