The Capital Good Fund

Nonprofit profile at a glance

EIN
800348382
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2011, Form 990-T 2024
Location
Providence, RI, USA
Phone
8665843651
Rating
78
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$9,591,116
Expenses
$8,254,935
Assets
$32,638,172
Liabilities
$29,136,623

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

Leadership & pay

13 people listed

Executive titles in this filing

  • ANDREW POSNER (FOUNDER & CEO)

Highest reported compensation

  • JAMES MAZJANIS (CHIEF FINANCIAL OFFICER): $156,722 total reported compensation
  • ANDREW POSNER (FOUNDER & CEO): $156,000 total reported compensation
  • AISHA BUSSEY (CHIEF BUSINESS OFFICER): $151,906 total reported compensation

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

Overview

Mission

To create pathways out of poverty and advance a green economy through inclusive financial services.

What it reported doing in 2024

We are a nonprofit, certified community development financial institution that believes in equitable financing for all. We currently offer financing in Rhode Island, Florida, Massachusetts, Illinois, Delaware, Texas, Colorado, New Jersey, Connecticut, Georgia and Pennsylvania.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

SUPPORTED - 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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 76
  • Accountability: 87
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.7%; rating input score 72
  • Program expense ratio: 83.3%; rating input score 83
  • Fundraising efficiency: $14.95 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 77.8%; rating input score 78; 14th 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: 13.9%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 3.95; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 7%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 21.2% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 21.5% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 26% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 71.7% of revenue deployed · 83.3% of spending went to programs
  • Governance: 7 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $6.9M in reported program spending
  • Leadership: top reported pay $157K · 13 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $762K reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • 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.

  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.