NonprofitsAlt Finance Corporation

Public & Societal Benefit

Alt Finance Corporation

CULVER CITY, CA

Total revenue

$9.5M

Total expenses

$9.2M

Net assets

$13.4M

Grants received

$12M

4 grants

EIN

863974526

Tax year

2024

Mission

Alt finance corporation ("altfinance") is committed to building and expanding pathways for students at historically black colleges and universities ("hbcu's") who enter the alternative investment industry. By providing hbcu communities with access to specialized curriculum, valuable networks, and sustainable financial support, altfinance opens pathways for hbcu talent to pursue careers in investing. Through industry-focused education, exposure, and hands-on experience, altfinance equips students with the tools for success.

Programs

3 programs

Altfinance fellowship program - this program services 118 students by providing them with training, mentorship, career coaching, and scholarships. The organization hosts five in-person workshops a year.

Expenses: $3.8M

Altfinance institute - the institute provides co-curricular learning opportunities to all interested hbcu students to increase awareness, support interest, and create pathways to alternative investment careers. Many of the institute ambassadors meet in person once a year.

Expenses: $2.2M

The lamplighter series is a regional salon initiative designed to connect altfinance's ecosystem of hbcu's, partner firms, and industry leaders while elevating awareness of altfinance's mission. Each event serves as an intimate, high-impact gathering to showcase advisory board members, engage lp's, and strengthen relationships across regions. These smaller, curated events are tailored to each location's community and alumni presence, featuring hbcu presidents, firm leaders, and other influential voices as speakers. The format encourages meaningful networking and thought leadership.

Expenses: $97K

Financials

FY 2024

Revenue

Contributions & grants$9M
Program service revenue
Investment income$458K
Other revenue
Total revenue$9.5M

Expenses

Grants paid$2.2M
Salaries & benefits$1.4M
Fundraising
Other expenses$5.6M
Total expenses$9.2M
Total assets$14.1M
Net assets$13.4M

People

11 listed

NameRoleCompensation

MARCUS SHAW

PRESIDENT AND C.E.O.

Board

$445K

40 hrs/wk

MICHELLE ARMSTRONG

DIRECTOR

Board

1 hrs/wk

TREY PRUITT

CHAIR

Board

1 hrs/wk

EDDIE KEITH III

DIRECTOR

Board

1 hrs/wk

MILWOOD HOBBS JR

DIRECTOR

Board

1 hrs/wk

JONATHAN B SIMON

VICE-CHAIR, CHAIR (AS OF MAY 2024)

Board

1 hrs/wk

HEATHER BERGER

TREASURER

Board

1 hrs/wk

JERILYN MCANIFF

SECRETARY

Board

1 hrs/wk

RACHEL WARD

V-P, PROGRAMS AND PARTNERSHIPS

Staff

$189K

40 hrs/wk

LESLIE ESPY

V-P, STRATEGY AND OPERATION

Staff

$180K

40 hrs/wk

TULANI THOMAS

CHIEF OF STAFF

Staff

$151K

40 hrs/wk

Independent contractors

MANAGEMENT LEADERS FOR TOMORROW

DEVELOP, PLAN, AND LAUNCH EVENTS

$2.3M

WHARTON SCHOOL OF UNIV OF PENNSYLVANIA

EDUCATION SERVICES

$1.6M

WILBRON INDUSTRIES LLC

MARKETING AND COMMUNICATIONS

$111K

Grants received

Showing 4 of 4

FromAmountPurposeYear
$3M
SUPPORT PROGRAMS FOR STUDENTS AND GRADUATES OF HISTORICALLY BLACK COLLEGES AND UNIVERSITIES.
2024
$4.5M
SUPPORT PROGRAMS FOR STUDENTS AND GRADUATES OF HISTORICALLY BLACK COLLEGES AND UNIVERSITIES
2023
$1.5M
SUPPORT PROGRAMS FOR STUDENTS AND GRADUATES OF HISTORICALLY BLACK COLLEGES AND UNIVERSITIES
2022
$3M
SUPPORT PROGRAMS FOR STUDENTS AND GRADUATES OF HISTORICALLY BLACK COLLEGES AND UNIVERSITIES TO LEARN SKILLS NECESSARY TO ENTER INTO AND SUCCEED IN THE ALTERNATIVE ASSET MANAGEMENT INDUSTRY, AND SUPPORT GENERAL OPERATIONS OF THE ALT FINANCE FOUNDATION.
2021

Funded by

$12M from 1 funder · 4 grants · 2021–2024

Ares Charitable Foundation

$12M · 4 grants · 2021–2024

Details

EIN863974526
NTEE codeW70
Subsection03
Ruling date2021-09
Formed2021
Employees8
Volunteers0
ALT FINANCE CORPORATION — Mission, Financials & Grants Received | Grantivo