Grand Rapids, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Rende Progress Capital, founded in 2017, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $638K in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $175K, a strong 27% operating margin.
RPC is committed to economic equity by providing socially responsible and affordable lending and responsible and affordable lending and services to entrepreneurs who have been excluded from traditional lending due to socio-economic reasons & bias.
Loan Portfolio Management: A third activity, which is related to our first core activity of lending, is loan portfolio management. RPC has committed growing time and resources to our staff...
Loan Portfolio Management: A third activity, which is related to our first core activity of lending, is loan portfolio management. RPC has committed growing time and resources to our staff, operations and to loan customers in this area. Such activities focus on daily, weekly, and monthly detailed internal operations and high-touch activities with loan customers in managing problem loans and delinquencies. As a result, in FY 2024, RPC continued its great loan portfolio performance of helping enhance customer credit, reducing late fees and mitigating losses in monthly loan payments and/or principal. With only one charge-off/default for FY 2024, RPC also experienced Q1, Q2 and Q3 loan portfolio performance due to the aforementioned outputs with a notation that denotes problem loan or delinquencies being positively below our own desired thresholds:
Rende Progress Capital RPC has continued in its mission and impact in providing two core services in FY 2024 of 1 small business lending and 2 free business Technical Assistance TA to diverse...
Rende Progress Capital RPC has continued in its mission and impact in providing two core services in FY 2024 of 1 small business lending and 2 free business Technical Assistance TA to diverse entrepreneurs in our primary market of Kent County as well as expansion of services in Kalamazoo, Muskegon, and Holland. In addition, RPC has grown in resources and work focused within portfolio management. The aforementioned core services and activities portfolio management, strategic management, fiscal management, and loan servicing with customers related to core functions contributed to additional microloan deals to eight new loan customers. Those new additional loans led to RPC achieving its $1 million plus historical-to-current deployment of loans to diverse entrepreneurs in businesses such as technology our first double digit revenue earning software company in Ada, MI and first diverse-owned franchise business Kalamazoo.
Technical Assistance: FY 2024 TA, upon the hiring of our Manager for Business Engagement and Cultivation, continued our new TA strategy to focus our TA more on pre-loan readiness to select...
Technical Assistance: FY 2024 TA, upon the hiring of our Manager for Business Engagement and Cultivation, continued our new TA strategy to focus our TA more on pre-loan readiness to select non-customers while providing TA to customers. To that end, in Q2, RPC served our first FY 2024 six-week pre-loan readiness incubator cohort of five selected Excluded Entrepreneur of Color non-customers on July 6. 2024, along with individual TA to our customers. These activites produced the following impact and output to forty-one business owners of color: 41 businesses - 34 businesses of color in group and individual TA including the 5 new selected non-RPC customer business participating in the Q3 Pre-Loan Readiness Program that started on Thursday, October 10, 2024. Gender: 58.3% Female 99% Women of Color Businesses abd 41.6% Male 99% Men of Color Businesses.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $638,113 | $814,275 | -0.2% |
| Expenses | $463,227 | $466,920 | 0.0% |
| Net Income | $174,886 | $347,355 | -0.5% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Eric K Foster | Chair and Director | 40.00 |
Officer
Director
Highest
|
$87,683 | $0 | $87,683 |
| Cuong Q Huynh | Board Treasurer & General Manager | 40.00 |
Officer
Director
|
$71,907 | $0 | $71,907 |
| Dr Lisa Cook | Board Member | 0.00 |
Director
|
$0 | $0 | $0 |
| Beverly Meek | Board Member | 0.00 |
Director
|
$0 | $0 | $0 |
| Timothy Williams | Board Member | 0.00 |
Director
|
$0 | $0 | $0 |
| Robin Selmon | Board Secretary | 0.00 |
Director
|
$0 | $0 | $0 |
| Merideth Freeman | Board Member | 0.00 |
Director
|
$0 | $0 | $0 |
| Bing Goei | Board Member | 0.00 |
Director
|
$0 | $0 | $0 |
| Tasha Blackmon | Board Member | 0.00 |
Director
|
$0 | $0 | $0 |
| Stacie Behler | Board Member | 0.00 |
Director
|
$0 | $0 | $0 |
| Minnie Morey | Board Member | 0.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2024 | $638,113 | $463,227 | $3,589,522 | $174,886 |
| 2023 | $814,275 | $466,921 | $3,381,787 | $347,354 |
| 2022 | $1,358,413 | $452,735 | $3,048,192 | $905,678 |
| 2020 | $1,812,309 | $312,798 | $2,158,777 | $1,499,511 |
| 2019 | $235,253 | $217,814 | $373,156 | $17,439 |
| 2018 | $220,008 | $85,385 | $242,510 | $134,623 |
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