California Statewide Communities Development Corporation
- Assets
- $552.6k
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Walnut Creek, CA
- Founding
- 10/2011
- Data as of
- 06/2023
- EIN
- 45-2385626
Organization Overview
California Statewide Communities Development Corporation is located in Walnut Creek, CA. The organization was established in 2011. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. California Statewide Communities Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2023, California Statewide Communities Development Corporation generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 28.9% each year . All expenses for the organization totaled $2.8m during the year ending 06/2023. While expenses have increased by 31.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE OR PROVIDE INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES OR LOW-INCOME PERSONS BY INVESTING IN SUBSIDIARY NEW MARKETS TAX CREDIT ALLOCATEES THAT PROVIDE LOANS OR FINANCIAL SERVICES TO QUALIFIED BUSINESSES IN LOW-INCOME COMMUNITIES IN THE ORGANIZATIONS'S SERVICE AREA OF CALIFORNIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S SOLE ACTIVITY IS TO PROVIDE CAPITAL TO QUALIFIED BUSINESSES IN LOW-INCOME COMMUNITIES UTILIZING THE FEDERAL NEW MARKETS TAX CREDIT PROGRAM AND AS SUCH ALL REVENUES AND EXPENSES ARE DERIVED FROM THE CLOSING AND MANAGING OF THESE PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Moura President | OfficerTrustee | 0.5 | $0 |
Jordan Kaufman Vice President | OfficerTrustee | 0.5 | $0 |
Kevin O'rourke Secretary | OfficerTrustee | 0.5 | $0 |
Dan Mierzwa Treasurer | OfficerTrustee | 0.5 | $0 |
Tim Snellings Trustee | Trustee | 0.5 | $0 |
Brian Stiger Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bridge Strategic Partners Llc Nmtc Consulting | 6/29/23 | $1,059,618 |
Breckenridge Consulting Services Inc Nmtc Consulting | 6/29/23 | $695,637 |
League Of California Cities Nmtc Consulting | 6/29/23 | $369,873 |
New Market Support Company Llc Nmtc Bookkeeping Services | 6/29/23 | $197,778 |
California State Association Of Counties Nmtc Consulting | 6/29/23 | $369,873 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $2,912,117 |
| Investment income | $13,971 |
| 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 | $2,926,088 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $48,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,769,611 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $415,489 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $123,112 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $14,010 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $552,611 |
| Accounts payable and accrued expenses | $108,153 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $60,000 |
| Total liabilities | $168,153 |
| Net assets without donor restrictions | $384,458 |
| Net assets with donor restrictions | $0 |
| 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 | $552,611 |