Cobiz Richmond Inc
- Assets
- $437.8k
- Revenue
- $787.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Richmond, CA
- Founding
- 10/2019
- Data as of
- 12/2021
- EIN
- 84-2956832
Organization Overview
Cobiz Richmond Inc is located in Richmond, CA. The organization was established in 2019. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Cobiz Richmond Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cobiz Richmond 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 12/2021, Cobiz Richmond Inc generated $787.5k in total revenue. All expenses for the organization totaled $755.5k during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
COBIZ PROVIDES LOW TO NO COST BUSINESS INNOVATION AND INCUBATION SERVICES IN DOWNTOWN RICHMOND IN A COLLABORATIVE SHARED WORKING-SPACE SETTING THAT FOSTERS AN ENTREPRENEURIAL SPIRIT AMONG THE BUSINESS COMMUNITY. COBIZ SPACE AND SERVICES ARE AFFORDABLE TO ENTREPRENEURS THROUGH EFFORTS BY COBIZ TO SOLICIT CORPORATE SPONSORS TO SUBSIDIZE MUCH OF THE COST FOR THE ENTREPRENEURS. COLLECTIVELY, THE COBIZ SPACE FOCUSES ON CREATING AN ECOSYSTEM AND CULTURE OF ENTREPRENEURSHIP, INNOVATION, COLLABORATION, AND COMMUNITY. IN PARTICULAR, COBIZ OFFERS SUBJECT MATTER EXPERTS, BENCHMARK PRACTICES TO DRIVE OPERATIONAL AND FISCAL EFFICIENCY FOR BUSINESSES, NONPROFITS AND COMMUNITY ORGANIZATIONS, EMERGING TECHNOLOGY, WOMENS LEADERSHIP AND DIVERSITY PROGRAMMING, PANEL DISCUSSIONS, PITCH COMPETITIONS, HACK-A-THONS, COMMUNITY EVENTS AND WELLNESS ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COBIZ CONTINUED PROVIDING LOW TO NO COST BUSINESS INNOVATION AND INCUBATION SERVICES IN A COLLABORATIVE SHARED WORK-SPACE SETTING, SERVING THE COMMUNITY AND ESSENTIAL PROFESSIONALS THROUGH THE PANDEMIC AND NUMEROUS SHELTER IN PLACE ORDERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bret Sweet Vice President | OfficerTrustee | 1 | $0 |
Lily Rahnema Secretary | OfficerTrustee | 1 | $0 |
Michael Martin Treasurer | OfficerTrustee | 1 | $0 |
Wesley Alexander CEO | Officer | 65 | $0 |
James Lee Director | Trustee | 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 | $514,578 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $514,578 |
| Total Program Service Revenue | $242,923 |
| Investment income | $0 |
| 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 | $787,520 |
| 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 | $291,043 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,364 |
| 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 | $8,687 |
| Advertising and promotion | $30,432 |
| Office expenses | $4,859 |
| Information technology | $41,187 |
| Royalties | $0 |
| Occupancy | $270,598 |
| 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 | $11,237 |
| All other expenses | $5,001 |
| Total functional expenses | $755,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $321,421 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,099 |
| 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 | $0 |
| Intangible assets | $0 |
| Other assets | $73,265 |
| Total assets | $437,785 |
| Accounts payable and accrued expenses | $0 |
| 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 | $2,900 |
| Other liabilities | $136,819 |
| Total liabilities | $139,719 |
| Net assets without donor restrictions | $0 |
| 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 | $298,066 |
| Total liabilities and net assets/fund balances | $437,785 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cobiz Richmond Inc has recieved totaling $144,000.
| Awarding Organization | Amount |
|---|---|
Richmond Community Foundation Richmond, CA PURPOSE: EQUIP RICHMOND | $144,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hawaii Community Lending Honolulu, HI | $8,660,806 | $18,228,333 |
Southern Arizona Land Trust Inc Tucson, AZ | $20,281,486 | $2,439,910 |
Door Of Faith Ministries Inc Salinas, CA | $315,718 | $1,297,630 |
Cobiz Richmond Inc Richmond, CA | $437,785 | $787,520 |
Community Agroecology Network Santa Cruz, CA | $2,331,013 | $676,339 |
Hopexchange Inc Scio, OR | $468,873 | $942,517 |
Northwest California Resource Conservation & Development Council Weaverville, CA | $188,582 | $512,558 |
Camptonville Community Partnership Camptonville, CA | $244,958 | $638,266 |
Food Roots Tillamook, OR | $436,936 | $587,342 |
North Shore Evp Waialua, HI | $31,467 | $0 |
Rebuild Superior Inc Superior, AZ | $211,956 | $326,542 |
Kings County Ecomomic Development Corp Hanford, CA | $7,039,153 | $404,777 |