Cooperative Business Assistance Corporation
- Assets
- $25.5m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 11
- Location
- Camden, NJ
- Founding
- 07/1988
- Data as of
- 06/2022
- EIN
- 22-2807816
Organization Overview
Cooperative Business Assistance Corporation is located in Camden, NJ. The organization was established in 1988. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Cooperative Business Assistance Corporation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cooperative Business Assistance Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Cooperative Business Assistance Corporation generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.5% each year . All expenses for the organization totaled $2.2m during the year ending 06/2022. While expenses have increased by 3.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC AND COMMUNITY DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ECONOMIC ASSISTANCE TO APPROXIMATLEY 350 BUSINESS ENTERPRISES IN SOUTHERN NEW JERSEY BY PROVIDING TECHNICAL AND FINANCIAL SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harry Stone President | 40 | $203,823 | |
Steven Winheld CFO | 40 | $143,224 | |
Barbara Anne Gardenhire-Mills Compl/engage Off | 40 | $115,895 | |
Brian Stone Finance/technical | 40 | $107,485 | |
Reynold Cicalese III Member | Trustee | 0 | $0 |
Clarence Fullard CPA Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,798,762 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,798,762 |
| Total Program Service Revenue | $623,694 |
| Investment income | $1,736 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,424,289 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $462,942 |
| Compensation of current officers, directors, key employees. | $462,942 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $579,263 |
| Pension plan accruals and contributions | $131,154 |
| Other employee benefits | $70,711 |
| Payroll taxes | $78,816 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,217 |
| Fees for services: Accounting | $22,920 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $170,500 |
| Advertising and promotion | $3,672 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,416 |
| Travel | $14,435 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $198,466 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,840 |
| Insurance | $17,656 |
| All other expenses | $74,785 |
| Total functional expenses | $2,197,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,734,110 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $724,509 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,945,373 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,370 |
| Net Land, buildings, and equipment | $115,559 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,530,921 |
| Accounts payable and accrued expenses | $165,030 |
| Grants payable | $0 |
| Deferred revenue | $217,272 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,498,043 |
| Total liabilities | $13,880,345 |
| Net assets without donor restrictions | $5,345,112 |
| Net assets with donor restrictions | $6,305,464 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $25,530,921 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Cooperative Business Assistance Corporation has recieved totaling $320,000.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $100,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $100,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $100,000 |
Wells Fargo Regional Community Development Corporation Philadelphia, PA PURPOSE: COVID RESPONSE GRANT | $10,000 |
Wells Fargo Regional Community Development Corporation Philadelphia, PA PURPOSE: COVID RESPONSE GRANT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Center For Civic Innovation Inc New York, NY | $21,208,939 | $12,582,443 |
Ben Franklin Technology Center Of Southeastern Pennsylvania Philadelphia, PA | $114,107,980 | $9,362,495 |
Trenton Business Assistance Corporation Mercerville, NJ | $91,160,866 | $14,574,637 |
Economic Progress Alliance Of Crawford County Meadville, PA | $32,588,545 | $5,037,136 |
Trickle Up Program Inc New York, NY | $7,710,130 | $4,721,602 |
Manufacturers Resource Center Allentown, PA | $3,950,399 | $3,151,417 |
Spedd Inc Vandergrift, PA | $27,841,148 | $4,019,412 |
World Trade Center Small Business Recovery Fund Inc Albany, NY | $0 | $35,625 |
Latin American Venture Capital Association New York, NY | $0 | $1,998,213 |
Cooperative Business Assistance Corporation Camden, NJ | $25,530,921 | $5,424,289 |
Allentown Economic Development Corporation Allentown, PA | $28,611,870 | $1,731,246 |
Launch New York Inc Buffalo, NY | $5,910,787 | $3,470,565 |