Success Capital Expansion & Development Corporation
- Assets
- $2.5m
- Revenue
- $974.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Modesto, CA
- Founding
- 03/1986
- Data as of
- 09/2022
- EIN
- 77-0047947
Organization Overview
Success Capital Expansion & Development Corporation is located in Modesto, CA. The organization was established in 1986. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, Success Capital Expansion & Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Success Capital Expansion & Development 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 09/2022, Success Capital Expansion & Development Corporation generated $974.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $756.2k during the year ending 09/2022. While expenses have increased by 6.5% 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
TO CREATE AND RETAIN JOBS IN CALIFORNIA BY PROVIDING LOANS TO SMALL BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMALL BUSINESS LOAN PROGRAMS DESIGNED TO PROVIDE CAPITAL FOR BUSINESS DEVELOPMENT AND EXPANSION RESULTING IN EMPLOYMENT OPPORTUNITIES AND AREA ECONOMIC DEVELOPMENT TO RESIDENTS OF CALIFORNIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marsha Carr President & CEO | OfficerTrustee | 40 | $132,812 |
Paul Caruso Past Chairperso | OfficerTrustee | 1 | $0 |
Kurtis Clark Director | OfficerTrustee | 1 | $0 |
Matt Foraker Director | OfficerTrustee | 1 | $0 |
Daniel Garcia Vice Chairperso | OfficerTrustee | 1 | $0 |
Elizabeth Jones Chairperson | OfficerTrustee | 1 | $0 |
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 | $973,701 |
| Investment income | $285 |
| 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 | $973,986 |
| 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. | $219,488 |
| Compensation of current officers, directors, key employees. | $19,922 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $219,862 |
| Pension plan accruals and contributions | $16,942 |
| Other employee benefits | $0 |
| Payroll taxes | $32,928 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,218 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $349 |
| Advertising and promotion | $7,766 |
| Office expenses | $27,717 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,246 |
| Travel | $7,846 |
| 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 | $5,347 |
| Insurance | $79,382 |
| All other expenses | $4,845 |
| Total functional expenses | $756,161 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $726,261 |
| Savings and temporary cash investments | $753,102 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $129,424 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $854,702 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,889 |
| Net Land, buildings, and equipment | $17,841 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,400 |
| Total assets | $2,493,619 |
| Accounts payable and accrued expenses | $34,289 |
| Grants payable | $0 |
| Deferred revenue | $737,782 |
| 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 | $192,256 |
| Total liabilities | $964,327 |
| Net assets without donor restrictions | $1,529,292 |
| 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 | $2,493,619 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Diego Convention And Tourist Bureau San Diego, CA | $10,248,135 | $28,266,235 |
Cdc Small Business Finance Corp San Diego, CA | $123,395,668 | $31,738,512 |
Mission Economic Development Agency San Francisco, CA | $193,556,070 | $20,206,962 |
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $19,191,750 | $16,242,591 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
Maui Economic Development Board Inc Medb Kihei, HI | $10,649,362 | $7,742,311 |
Greater Phoenix Economic Council Phoenix, AZ | $6,926,984 | $7,545,492 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |