Rising Tide Capital Inc and Subsidiaries

Nonprofit profile at a glance

EIN
113720098
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Jersey City, NJ, USA
Phone
2014324316
Rating
81
Verdict
STRONG
Rating confidence
Standard
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$5,538,016
Expenses
$7,615,065
Assets
$9,628,408
Liabilities
$4,292,266

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • ALFA DEMMELLASH (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • ALFA DEMMELLASH (CHIEF EXECUTIVE OFFICER): $321,492 total reported compensation
  • ALEX FORRESTER (CHIEF OPERATING OFFICER): $304,835 total reported compensation
  • JOYNICOLE MARTINEZ (CHIEF ADVANCEMENT OFFICER): $267,835 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Rising tide capital inc. Is a non-profit organization whose mission is to transform lives and communities through entrepreneurship. Rising tide aims to expand its proven model and programs to serve more economically challenged individuals and families for whom entrepreneurship represents an important opportunity for resilience, growth, stability, and income generation. We are driven by a vision of strong communities of resilient entrepreneurs catalyzing a thriving and sustainable economy for all.

What it reported doing in 2024

Rising tide capital marked a transformative year in 2024, celebrating its 20th anniversary while achieving significant milestones in entrepreneurial support and community development. Through the rising tide network, the organization now operates in 18 locations across 15 states, having supported over 11,000 entrepreneurs since its founding.rising tide capital and the rising tide network provided intensive business management training & education with access to capital and coaching services to over 2,100 entrepreneurs during 2024. 494 people participated in our community business academy, 550 people received advanced technical support and coaching through our business acceleration services program (a 31% increase from 2023), and 230 people received credit counseling, loan packaging, and access to capital services through our credit to capital program, with coaching hours increasing by 377% to 1,831 hours.during 2024 these efforts resulted in 70 new business starts (89% increase from 2023), 550 businesses strengthened/stabilized (26% increase), 331 businesses expanded (82% increase), and the creation of 325 new jobs, representing a 55% increase in job creation from the previous year.with program graduates achieving an 81% business survival rate beyond five yearssignificantly outperforming the 50% national average alongside rising tide capital's proven impact in generating $5.89 in social value for every $1 invested rising tide capital continues to demonstrate that entrepreneurship is a powerful catalyst for economic mobility and community transformation.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 79
  • Accountability: 84
  • Sustainability: 19
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.1%; rating input score 83
  • Fundraising efficiency: $5.85 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 72.7%; rating input score 73; 12th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -37.5%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1.26; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.45; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 21.6%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 12.3% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 10.4% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 16.3% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.1% of spending went to programs
  • Governance: 8 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $6.3M in reported program spending
  • Leadership: top reported pay $321K · 17 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $986K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 21/100.
  • High — Sustainability: Operating margin scored 3/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.