EIN 59-3814814

TruFund Financial services

IRS 501(c) type
501(c)(3)
Num. employees
55
Year formed
2005
Most recent tax filings
2022-12-01
Description
TruFund Financial services provides financing and technical assistance to small businesses, primarily minority and women-owned business enterprises, and non-profit organizations. Its mission is to promote and foster economic development in underserved communities and among disadvantaged populations by offering affordable capital and capacity building technical assistance to small businesses and not-for-profit organizations.
Total revenues
$16,024,804
2022
Total expenses
$9,625,966
2022
Total assets
$48,532,112
2022
Num. employees
55
2022

Program areas at TruFund Financial services

Small business lending - a principal component of Trufund's mission is to serve minority and women owned business enterprises and small businesses located within a low-or moderate income community, as they represent historically economically disadvantaged populations and those traditionally disconnected from mainstream Financial institutions. For more information - see schedule o.

Who funds TruFund Financial services

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
JP Morgan Chase FoundationIn Support of Underserved Small Business Expansion$500,000
Vanguard Charitable Endowment ProgramFor Recipient's Exempt Purpose$500,000
Opportunity Finance Network (OFN)Ofn Cdfi Tech Grant Program Supported By Google.org$100,000
...and 4 more grants received

Personnel at TruFund Financial services

NameTitleCompensation
James BasonBoard Member$365,554
Kenneth HarveyChief Financial Officer$197,775
Michael VaughSenior Vice President - Chief of Credit and Compliance$182,712
Ramy HennedyVice President - Financial Reporting and Analysis
Pia LongariniVice President - Compliance | Risk Management
...and 26 more key personnel

Financials for TruFund Financial services

RevenuesFYE 12/2022
Total grants, contributions, etc.$13,863,709
Program services$1,965,354
Investment income and dividends$130,667
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$65,074
Total revenues$16,024,804

Form 990s for TruFund Financial services

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-14990View PDF
2019-122021-02-26990View PDF
2018-122020-01-24990View PDF
2017-122019-02-21990View PDF
2016-122018-03-14990View PDF
...and 7 more Form 990s

Organizations like TruFund Financial services

OrganizationLocationRevenue
Access To Capital for EntrepreneursCleveland, GA$13,820,713
AccessitySan Diego, CA$5,295,637
Entrepreneur FundDuluth, MN$13,045,758
AscendusNew York, NY$13,403,959
Mountain BizworksAsheville, NC$6,124,699
Nebraska Enterprise FundOakland, NE$5,303,898
Bridgeway CapitalPittsburgh, PA$11,446,748
Flagship Enterprise CenterAnderson, IN$8,589,036
Grameen AmericaJackson Heights, NY$46,396,843
Craft3Astoria, OR$19,219,259
Data update history
January 5, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 4, 2024
Updated personnel
Identified 5 new personnel
January 2, 2024
Received grants
Identified 4 new grant, including a grant for $500,000 from JP Morgan Chase Foundation
December 25, 2023
Used new vendors
Identified 2 new vendors, including , and
October 24, 2023
Received grants
Identified 2 new grant, including a grant for $600,000 from The Ford Foundation
Nonprofit Types
Business and community development organizationsCommunity Development Financial InstitutionsCharities
Issues
Economic developmentBusiness and industry
Characteristics
Receives government fundingTax deductible donations
General information
Address
39 W 37th St 7th Floor
New York, NY 10018
Metro area
New York-Newark-Jersey City, NY-NJ-PA
County
New York County, NY
Website URL
trufund.org/ 
Phone
(212) 204-1328
IRS details
EIN
59-3814814
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2005
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S43: Management Services for Small Business, Entrepreneurs
NAICS code, primary
522120: Savings Institutions
Parent/child status
Independent
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