Overview
What is Altcap?
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Official website here: www.alt-cap.org
What do the Facebook reviews say about Altcap?
Currently, there are only two reviews available for Altcap on Facebook, and they reflect a notably negative experience. One reviewer describes the organization as engaging with predatory lending practices and expresses strong dissatisfaction with their interactions, specifically mentioning unpleasant customer service.
With such limited feedback, there is an evident concern regarding the organization’s approach to lending and customer support. The singular focus on negative experiences suggests that potential clients may need to exercise caution when considering Altcap for financial services.
Overall, the sentiment leans heavily towards discontent, and it is clear that some individuals feel misled and frustrated by their interactions with this nonprofit.
This AI summary has been generated from reviews found on Facebook.
Is Altcap legitimate?
Altcap is a legitimate nonprofit organization registered as a 501(c)(4) entity. Altcap submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $358,694
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,087,735
For more financial information, click here
Official website here: www.alt-cap.org
What is the mission statement of Altcap?
Altcap's mission is to stimulate investment in underdeveloped communities within the Kansas City metropolitan area by employing innovative financial products, targeted economic and community development programs, and fostering strategic partnerships that encourage collaboration and capacity building. In 2022, the organization continued its efforts to distribute essential financing to entrepreneurs who are often overlooked or underserved. This enabled Altcap to extend its influence to more communities and assist a larger number of entrepreneurs, facilitating the establishment of new small businesses and the expansion of existing ones. The organization further enhanced its financial offerings by providing revenue-based financing loans, making its capital more accessible and adaptable for entrepreneurs.
Official website here: www.alt-cap.org
Who is the CEO of Altcap?
Ruben Alonso Iii is the Market President of Altcap.
Official website here: www.alt-cap.org
What is the revenue of Altcap?
Altcap's revenue in 2022 was $6,756,411.
Official website here: www.alt-cap.org
Who are the executives of Altcap and what are their salaries?
The average compensation at Altcap during 2022 was $46,659. There are 31 employees and 8 volunteers at Altcap.
Here are 14 key members and their salaries:
- Compensation: $194,587
- Related: $0
- Other: $11,783
- Compensation: $187,928
- Related: $0
- Other: $11,821
- Compensation: $148,103
- Related: $0
- Other: $10,839
- Compensation: $108,609
- Related: $0
- Other: $9,654
- Compensation: $94,101
- Related: $0
- Other: $9,219
- Compensation: $81,725
- Related: $0
- Other: $6,145
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.alt-cap.org
Where can I find the form 990 for Altcap?
Altcap's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.alt-cap.org
Learn more at the official website: www.alt-cap.org
Mission Statement of Altcap
Altcap, as a nonprofit organization, is committed to serving as a catalyst for investment in the Kansas City metropolitan communities. They achieve this mission through innovative financial products, targeted economic and community development programming, and strategic partnerships that foster collaboration and capacity building. In 2022, Altcap continued to deploy financing to underserved and overlooked entrepreneurs, expanding its reach to more communities and serving a larger number of business owners. This support aided in the creation of new small businesses and the growth of existing ones. Furthermore, Altcap increased the accessibility and flexibility of its capital by offering revenue-based financing loans to entrepreneurs. This approach allows businesses to repay their loans based on their income, making it an attractive option for those with less traditional revenue streams.
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Impact
October, 2024
Altcap significantly impacts underserved and overlooked entrepreneurs in the Kansas City metropolitan area by providing essential financing solutions that foster small business creation and growth. In 2022, the organization broadened its reach, making capital more accessible to a diverse range of entrepreneurs. This included not only traditional small business and micro loans but also innovative revenue-based financing options, enhancing the flexibility and accessibility of funding for various business needs.
By facilitating access to capital, Altcap plays a crucial role in community development, empowering local entrepreneurs to establish and expand their businesses, which ultimately contributes to economic vitality in the region. Their efforts promote strategic partnerships and collaboration within the community, enhancing the capacity for economic growth and improving overall community conditions. Through its innovative financial products and targeted programming, Altcap serves as a catalyst for investment, driving positive change in the economic landscape of Kansas City.
This information is meant to be a general summary of Altcap. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $36,813
- Program Service Revenue: $1,950,803
- Gross Receipts: $6,756,411
Assets and Liabilities:
- Total Assets: $30,256,354
- Total Liabilities: $12,845,783
- Net Assets: $17,410,571
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
New Market Tax Credit fees
Revenue
$1,347,893
Consumer lending
Revenue
$602,910
Organization Details
Founding Year
2005
Phone
(816) 216-1851Principal Officer
Ruben Alonso Iii
Main Address
3200 WAYNE AVENUE, KANSAS CITY, MO, 64109
Website
www.alt-cap.orgNTEE Category
Code: S20 - Community improvement
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