Colorado Lending Source Ltd
- Assets
- $12.4m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 46
- Location
- Denver, CO
- Founding
- 09/1996
- Data as of
- 12/2021
- EIN
- 84-1171311
Organization Overview
Colorado Lending Source Ltd, operating under the name Colorado Lending Source, is located in Denver, CO. The organization was established in 1996. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Colorado Lending Source employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colorado Lending Source is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Colorado Lending Source generated $6.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $5.3m during the year ending 12/2021. While expenses have increased by 2.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE B:SIDE CAPITAL MISSION IS TO FOSTER THE ECONOMIC GROWTH OF DIVERSE SMALL BUSINESSES WITHIN OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF B:SIDE CAPITAL IS TO FOSTER THE ECONOMIC GROWTH OF DIVERSE SMALL BUSINESSES WITHIN OUR COMMUNITIES BY ACHIEVING AND MAINTAINING EXCELLENCE IN THE OPERATION AND DELIVERY OF THE US SMALL BUSINESS ADMINISTRATION 504 LOAN PROGRAM TO SMALL BUSINESS OWNERS; IMPROVING THE PUBLIC VISIBILITY OF B:SIDE CAPITAL SO THAT PARTNERS, PEERS, AND CUSTOMERS RECOGNIZE THE ORGANIZATION AS A LEADING ECONOMIC DEVELOPMENT COMPANY; CONTINUING TO POSITION B:SIDE CAPITAL FOR EXPANSION SO THAT THE ORGANIZATION IS READY TO SERVE SMALL BUSINESS IN COMMUNITIES WHERE ACCESS TO CAPITAL IS LIMITED; AND DIVERSIFYING THE MENU OF PRODUCTS AND SERVICES OFFERED BY B:SIDE CAPITAL.
THE MISSION OF B:SIDE CAPITAL IS TO FOSTER THE ECONOMIC GROWTH OF DIVERSE SMALL BUSINESSES WITHIN OUR COMMUNITIES BY PROVIDING SMALL BUSINESSES WITH ACCESS TO CAPITAL. THIS IS ACHIEVED THROUGH THE B:SIDE CAPITAL COMMUNITY ADVANTAGE AND DIRECT LOAN PROGRAMS OFFERING BUSINESSES LOANS UP TO $250,000 AT AFFORDABLE RATES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Myers Chief Executive Officer | Officer | 39 | $240,580 |
Laurel Walk Chief Lending Officer | 40 | $174,432 | |
Karol Jones Chief Financial Officer | Officer | 39 | $169,639 |
Amber Cornwell Closing Director | 40 | $126,525 | |
Beth Hurley Portfolio Management Director | 40 | $124,673 | |
Jessica Stutz Lending Director | 40 | $117,063 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Patrick M Plank Llc Legal Services | 12/30/21 | $149,758 |
Hoffman Nies Dave And Meyer Llp Legal Services | 12/30/21 | $141,307 |
Miller Law Pc Legal Services | 12/30/21 | $110,420 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $151,649 |
| 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 | $151,649 |
| Total Program Service Revenue | $5,411,453 |
| Investment income | $420,900 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$711 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,983,291 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $605 |
| 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. | $442,658 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,022,708 |
| Pension plan accruals and contributions | $125,084 |
| Other employee benefits | $410,628 |
| Payroll taxes | $295,964 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,807 |
| Fees for services: Accounting | $64,883 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $131,819 |
| Advertising and promotion | $55,019 |
| Office expenses | $92,202 |
| Information technology | $229,908 |
| Royalties | $0 |
| Occupancy | $331,910 |
| Travel | $5,720 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,773 |
| Interest | $162,108 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,369 |
| Insurance | $104,901 |
| All other expenses | $149,552 |
| Total functional expenses | $5,344,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,925,623 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $52,368 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,143,503 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $116,664 |
| Net Land, buildings, and equipment | $27,641 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,120,805 |
| Total assets | $12,386,604 |
| Accounts payable and accrued expenses | $3,231,879 |
| Grants payable | $0 |
| Deferred revenue | $1,432,093 |
| 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 | $3,233,877 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $250,875 |
| Total liabilities | $8,148,724 |
| Net assets without donor restrictions | $4,237,880 |
| 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 | $12,386,604 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Oklahoma City Chamber Of Commerce Oklahoma City, OK | $12,639,674 | $12,068,118 |
Chamber Of Commerce Metropolitan Tulsa Tulsa, OK | $9,253,345 | $10,228,951 |
Metropolitan Tucson Convention And Visitors Bureau Tucson, AZ | $11,117,181 | $12,905,654 |
Park City Area Chamber Of Commerce Convention & Visitors Buerau Park City, UT | $9,039,229 | $12,386,201 |
Denver Metro Chamber Of Commerce Denver, CO | $24,074,791 | $9,796,835 |
Arizona Association Of Realtors Phoenix, AZ | $41,549,602 | $11,298,614 |
Commercial Real Estate Women Network Lawrence, KS | $20,981,999 | $6,251,461 |
Colorado Lending Source Ltd Denver, CO | $12,386,604 | $5,983,291 |
Salt Lake Area Chamber Of Commerce Salt Lake City, UT | $6,300,814 | $5,364,414 |
Colorado Springs Convention Visitors Bureau Colorado Springs, CO | $5,599,246 | $5,101,017 |
Arizona Chamber Of Commerce Scottsdale, AZ | $2,431,863 | $4,265,420 |
Visit Mesa Mesa, AZ | $4,162,737 | $5,173,998 |