Overview
What is First Community Capital Inc?
First Community Capital Inc, based in Temecula, California, is a nonprofit organization dedicated to promoting economic justice and opportunity. They achieve this goal by providing financial assistance and technical support to economically disadvantaged micro and rural businesses, particularly those owned by individuals from marginalized communities such as people of color, women, veterans, refugees, immigrants, and those impacted by the justice system. The organization also assists low and moderate-income entrepreneurs who lack sufficient training and education to gain access to capital. Beyond lending, First Community Capital Inc offers business development services, including counseling, training, and market support for microenterprises and small businesses. They also create infrastructure to facilitate the formation of social capital and offer unmatched business counseling services tailored to the comprehensive needs of their microentrepreneurs and small business owners.
Official website here: www.firstcommunitycapital.org
Is First Community Capital Inc legitimate?
First Community Capital Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Community Capital Inc 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: $119,600
Professional Fundraising Fees: $0
Other Salaries and Wages: $82,920
For more financial information, click here
Official website here: www.firstcommunitycapital.org
What is the mission statement of First Community Capital Inc?
First Community Capital Inc's mission is centered around fostering economic justice and opportunities. The organization achieves this by providing access to capital and technical assistance to economically disadvantaged micro and rural businesses. Their focus is on businesses owned by individuals from underrepresented groups, such as people of color, women, veterans, refugees, immigrants, and those affected by the justice system. Additionally, they assist low-income entrepreneurs who lack the necessary training and education, helping them gain access to capital. This long-term approach to economic recovery and resilience is essential for small businesses.
Official website here: www.firstcommunitycapital.org
Who is the CEO of First Community Capital Inc?
Tchaidor Jay Diallo is the CEO of First Community Capital Inc The CEO's salary of First Community Capital Inc is $114,400 and their total compensation is $114,400.
Official website here: www.firstcommunitycapital.org
What is the revenue of First Community Capital Inc?
First Community Capital Inc's revenue in 2024 was $486,010.
Official website here: www.firstcommunitycapital.org
Who are the executives of First Community Capital Inc and what are their salaries?
The average compensation at First Community Capital Inc during 2024 was $40,504. There are 5 employees and 10 volunteers at First Community Capital Inc.
Here are 8 key members and their salaries (First Community Capital Inc's CEO's salary is $114,400 and their total compensation is $114,400):
- Compensation: $114,400
- 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.firstcommunitycapital.org
Where can I find the form 990 for First Community Capital Inc?
First Community Capital Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.firstcommunitycapital.org
Learn more at the official website: www.firstcommunitycapital.org
Mission Statement of First Community Capital Inc
First Community Capital Inc, a nonprofit organization, is committed to fostering economic justice and opportunity. Their mission is to provide access to capital and technical assistance to economically disadvantaged micro and rural businesses. The organization places a significant emphasis on businesses owned by individuals from marginalized groups, such as people of color, women, veterans, refugees, immigrants, and those impacted by the justice system. Additionally, First Community Capital Inc extends a helping hand to low and moderate income entrepreneurs who lack sufficient training and education, aiding them in gaining access to capital. By doing so, the organization contributes to the long-term economic recovery and resilience of small businesses.
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Impact
October, 2024
First Community Capital Inc. (FCC) plays a vital role in fostering economic justice and expanding opportunities for economically disadvantaged micro and rural businesses. By providing access to capital and technical assistance, FCC specifically targets businesses owned by people of color, including women, veterans, refugees, immigrants, and individuals affected by the justice system.
During the fiscal year ending June 30, 2022, FCC issued microloans to minority-owned home-based businesses as well as to both existing and startup businesses. Remarkably, all loans were current with no late payments, reflecting the effectiveness of their lending model. Beyond financial support, FCC also emphasizes comprehensive business development services. This includes counseling, training, and market support for microenterprises, thereby creating infrastructure that nurtures social capital within the community.
With seasoned small business coaches and consultants, FCC offers unmatched guidance tailored to the unique needs of microentrepreneurs and small business owners. The organization's efforts not only enhance individual business resilience but also contribute to long-term economic recovery and stability in the communities they serve. Through its initiatives, First Community Capital Inc. strengthens local economies and promotes equitable access to entrepreneurial resources.
This information is meant to be a general summary of First Community Capital Inc. 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 2024.
- Investment Income: $1,208
- Program Service Revenue: $65,227
- Gross Receipts: $486,010
Assets and Liabilities:
- Total Assets: $435,550
- Total Liabilities: $226,050
- Net Assets: $209,500
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest Income
Revenue
$41,855
Late Fees
Revenue
$269
Loan Fees
Revenue
$23,103
Organization Details
Founding Year
2019
Principal Officer
Tchaidor Jay Diallo
NTEE Category
Code: J01 - Employment
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