Colorado Enterprise Fund Inc
- Assets
- $70.1m
- Revenue
- $18.3m
- Investments
- $0.0
- Employees
- 39
- Location
- Denver, CO
- Founding
- 08/1982
- Data as of
- 09/2023
- EIN
- 84-0837398
Organization Overview
Colorado Enterprise Fund Inc is located in Denver, CO. The organization was established in 1982. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Colorado Enterprise Fund Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colorado Enterprise Fund Inc 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 09/2023, Colorado Enterprise Fund Inc generated $18.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.1% each year . All expenses for the organization totaled $10.8m during the year ending 09/2023. While expenses have increased by 16.0% 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.
Since 2019, Colorado Enterprise Fund Inc has awarded 781 individual grants totaling $9,059,186. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCELERATE COMMUNITY PROSPERITY BY FINANCING AND SUPPORTING ENTREPRENEURS AND SMALL BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMALL BUSINESS LOAN PROGRAM - CEF AGGREGATES AND LEVERAGES CAPITAL TO SPUR INVESTMENT AND BUILD CAPACITY FOR THOSE WHO ARE EXCLUDED FROM MAINSTREAM BANK FINANCING AND ENTREPRENEURIAL NETWORKS, SPECIFICALLY TARGETING LOW- INCOME AND MINORITY SMALL BUSINESS OWNERS. CEF PROVIDES FINANCING OPTIONS WHEN BANKS CANNOT LEND OR CANNOT LEND ENOUGH, SPECIALIZING IN LOANS UP TO 500,000 FOR NEW AND EXISTING SMALL BUSINESSES AND SOCIAL ENTERPRISES THROUGHOUT COLORADO. CEF CATALYZES BUSINESS OWNERSHIP AND JOB CREATION BY OFFERING FLEXIBLE FINANCING PRODUCTS, PERSONALIZED CLIENT SUPPORT, ONE-ON- ONE BUSINESS COACHING, AND ACCESS TO ADDITIONAL RESOURCES FOR UNDERSERVED ENTREPRENEURS.
DURING 2022, CEF ENTERED INTO AGREEMENTS WITH GOVERNMENTAL ENTITIES TO ADMINISTER GRANT PROGRAMS FOR SMALL BUSINESSES AFFECTED BY ECONOMIC HARDSHIP CAUSED BY THE COVID-19 PANDEMIC, FUNDED BY THE STATE OF COLORADO AND THE AMERICAN RESCUE PLAN ACT (ARPA). BECAUSE OF CEF'S INVOLVEMENT IN GRANTMAKING ACTIVITIES FOR THESE PROGRAMS, GRANT REVENUE AND GRANT EXPENSES ARE REPORTED IN THE STATEMENTS OF ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cecilia Prinster President An | Officer | 40 | $183,019 |
Dave Mesko CFO & Cao Th | Officer | 40 | $109,027 |
Nim Patel Interim CFO | Officer | 40 | $170,744 |
Lewis Hagler Dir Business | 40 | $121,471 | |
Alan Ramirez Dir Of Strat | 40 | $111,656 | |
Tina Robinson Dir Of Fin T | 40 | $123,034 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nimbleiq Llc Strategy, Ops | 9/29/23 | $138,994 |
Platt Caynon Consulting Fin Report Cons | 9/29/23 | $105,990 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,051,909 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,085,042 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,136,951 |
| Total Program Service Revenue | $5,800,275 |
| Investment income | $285,542 |
| 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 | $18,269,112 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $932,145 |
| Grants and other assistance to domestic individuals. | $667,932 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $756,752 |
| Compensation of current officers, directors, key employees. | $395,048 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,697,764 |
| Pension plan accruals and contributions | $31,176 |
| Other employee benefits | $235,148 |
| Payroll taxes | $266,842 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $125,806 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $7,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,443,368 |
| Advertising and promotion | $0 |
| Office expenses | $421,509 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $150,371 |
| Travel | $77,682 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $76,428 |
| Interest | $576,051 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,307 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $10,805,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,250,832 |
| Savings and temporary cash investments | $19,622,934 |
| Pledges and grants receivable | $1,988,400 |
| Accounts receivable, net | $160,023 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $30,393,232 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $55,817 |
| Net Land, buildings, and equipment | $164,997 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $478,662 |
| Total assets | $70,114,897 |
| Accounts payable and accrued expenses | $657,327 |
| 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 | $5,537,665 |
| Unsecured mortgages and notes payable | $18,856,607 |
| Other liabilities | $10,698,079 |
| Total liabilities | $35,749,678 |
| Net assets without donor restrictions | $30,436,814 |
| Net assets with donor restrictions | $3,928,405 |
| 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 | $70,114,897 |
Grants Awarded
Over the last fiscal year, Colorado Enterprise Fund Inc has awarded $641,958 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
ACTIVARMOR PURPOSE: UNDERSERVED BUSINESS | $10,000 |
AMA LASER AND HEALTH SPA LLC PURPOSE: UNDERSERVED BUSINESS | $7,000 |
AMOS 913 LLC PURPOSE: UNDERSERVED BUSINESS | $15,000 |
CHEF HUEY LLC PURPOSE: UNDERSERVED BUSINESS | $8,000 |
KNOCKOUT BUILD LLC PURPOSE: UNDERSERVED BUSINESS | $10,000 |
FROZEN LOTUS RESTAURANT GROUP INC PURPOSE: UNDERSERVED BUSINESS | $15,000 |