irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $26KOTHER COMMUNITY PROGRAMS ADDRESSES A CLIENTS PARTICULAR BUSINESS NEEDS. DURING THESE ONE-ON-ONE COUNSELING SESSIONS, RISE NOW HELPS BUSINESS OWNERS AND ENTREPRENEURS WITH FINANCIAL MANAGEMENT AND PLANNING, MARKET RESEARCH, MARKETING PLAN DEVELOPMENT, LEASE AND CONTRACT NEGOTIATIONS, LOAN PACKAGING AND BROKERING SERVICES. RISE NOWS BUSINESS COUNSELORS HELP CLIENTS NAVIGATE THE DIFFERENT DEVELOPMENTAL STAGES OF THEIR BUSINESSES, WHETHER THEY ARE INDIVIDUALS THINKING OF STARTING A BUSINESS, BUSINESS OWNERS HOPING TO EXPAND THEIR BUSINESSES, OR EVEN ENTREPRENEURS WHO ARE EXPERIENCING FINANCIAL DIFFICULTY.
named programs · 5 · from sources
What they call their work
Community Resources Fair
Annual event to engage Flushing residents, assess needs for financial services, and promote support for the formation of RISE FCU.
One-on-One Business Counseling
Offers personalized support to entrepreneurs and small business owners in financial planning, loan packaging, contract negotiation, and market research.
Post-COVID Small Business Recovery Loan Fund (PCSBR)
Provides emergency and micro-loans for working capital to small businesses affected by the pandemic, paired with business planning and financial coaching services.
RISE FCU (Rise Now Federal Credit Union)
Planned credit union to offer fair-rate loans, savings accounts, remittance services, and financial education tailored to low-income and immigrant communities in Flushing.
The People's Money – Participatory Budgeting
Collaborates with NYC Civic Engagement Commission to host idea generation sessions where community members shape local budget priorities.
activities · 6 groups
What they do
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Startup Acceleration & Business Growth Support 1 activity
- Community education on small business financing and public contractingConducts outreach, seminars, and workshops to educate small business owners on applying for small business and micro-loans, and obtaining certification for City, State, and Federal contracting programs.
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MWBE Certification and Contract Access Support 1 activity
- One-on-one business counseling and financial services accessProvides individualized counseling to small business owners and entrepreneurs on financial management, market research, marketing plan development, lease and contract negotiations, loan packaging, and brokering services to access credit, low-interest loans, and financial institutions. Supports clients across all stages of business development, including startup planning, expansion, and financial distress management.
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Neighborhood Civic Engagement 1 activity
- Participatory Budgeting community engagementConducted four "Idea Generation Sessions" with community members in Flushing and College Point neighborhoods of Queens as part of New York City's Participatory Budgeting initiative.
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Community Capacity Building & Leadership Networks 1 activity
- Partnership and referral network developmentBuilds collaborative networks and referral pathways with local organizations such as Veterans Business Outreach Centers, Small Business Development Centers, and Community Development Financial Institutions to enhance support for small businesses and entrepreneurs.
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Small Business and Nonprofit Lending 1 activity
- Post-COVID Small Business Recovery Loan FundLaunched and operates the Post-COVID Small Business Recovery Loan Fund (PCSBR) to provide emergency and micro-loans for working capital to small businesses in New York City affected by the pandemic.
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Urban Policy and Equity Research 1 activity
- Research on community financial needs and public health disparitiesConducts research to assess community financial needs, including surveys on credit union formation in the Greater Flushing area, and analyzes public health and economic disparities such as high infection and death rates during the pandemic in low-income neighborhoods of the Bronx, northern Manhattan, Brooklyn, and Queens. Also reports on local poverty and housing burden, including findings that over 40% of Flushing renters face severe rent burden and 25% of residents live in poverty.
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financials · form 990 · fy2024
revenue
Total revenue$252K
Contributions & grants$248K98%
Program service revenue$2K1%
Investment income$2K1%
Other revenue$0
expenses
Total expenses$128K
Program expenses90%
Admin / overhead10%
Fundraising0%
Salaries & benefits$71K
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$290K
Cash$52K
Investments$0
Liabilities$96K
Net assets$194K
Liquid reserves4.8 mo
2 years on record · 2023–2024 · YoY revenue +39.9%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 1
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| CHRISTOPHER KUI | PRESIDENT | 10 | $22K |
board members · 5
- BRUCE FEFFER — VICE PRESIDENT
- FLORA FERNG — SECRETARY
- JANNIE LAI — TREASURER
- MICHAEL LAM — BOARD MEMBER
- WEI CHAO ZHANG — BOARD MEMBER
relationships · 8
Who they work with
- Community Development Financial Institutions Partner — Collaborates to provide support and resources for small businesses and entrepreneurs.
- NYC Civic Engagement Commission Partner — Partnered with Rise Now Inc. to conduct Idea Generation Sessions for the Participatory Budgeting initiative.
- Small Business Development Centers Partner — Collaborates to provide support and resources for small businesses and entrepreneurs.
- U.S. Small Business Administration Government — References the SBA's Paycheck Protection Program in analysis of small business loan disparities in Flushing.
- Veterans Business Outreach Centers Partner — Collaborates to provide support and resources for small businesses and entrepreneurs.
- corporations Partner — Partners with corporations to support the Small Business Recovery Loan Fund.
- foundations Partner — Works with foundations to fund and implement the Small Business Recovery Loan Fund.
- government agencies Partner — Collaborates with government agencies to launch and support the Small Business Recovery Loan Fund.
strategies · 4
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Culturally Responsive Economic Inclusionmethodology: culturally-responsive economic supportBy delivering culturally and linguistically appropriate financial services and technical assistance, the organization increases access to economic opportunities for low-income immigrant entrepreneurs because trust, comprehension, and cultural relevance are critical to engagement and program effectiveness.
- Equity-Driven Advocacy and Community Diagnosismethodology: equity-focused economic advocacyBy investigating and publicizing disparities in federal relief distribution—such as PPP loan inequities—the organization drives policy change and resource reallocation because data-informed advocacy exposes systemic exclusion and strengthens community claims for equitable support.
- Integrated Financial Support Modelmethodology: integrated-financial-supportBy combining emergency and micro-loans with business development services such as financial coaching and business planning, the organization supports small business recovery because access to capital alone is insufficient without tailored guidance to navigate financial challenges and systemic barriers.
- Participatory Community Decision-Makingmethodology: participatory_budgetingBy using community-led workshops to generate ideas and co-create budget proposals, the organization ensures that local needs—especially those of marginalized entrepreneurs—are reflected in funding decisions because participatory democracy builds ownership, legitimacy, and responsiveness in economic development.