Evergreen Business Capital
- Assets
- $10.2m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 34
- Location
- Seattle, WA
- Founding
- 05/1982
- Data as of
- 09/2023
- EIN
- 91-1118298
Organization Overview
Evergreen Business Capital is located in Seattle, WA. The organization was established in 1982. 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. As of 09/2023, Evergreen Business Capital employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Evergreen Business Capital 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 09/2023, Evergreen Business Capital generated $5.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $5.5m during the year ending 09/2023. While expenses have increased by 2.3% 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
ACCREDITED AS A CERTIFIED DEVELOPMENT COMPANY BY SBA, WE OFFER BUSINESS CAPITAL SERVICES THAT ENHANCE SMALL BUSINESS GROWTH IN WA, OR, AK, AND ID.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION AUTHORIZED OVER 76 LOANS TOTALING $76.6 MILLION FOR CAPITAL PROJECTS WORTH $221.8 MILLION. THESE PROJECTS ARE PROJECTED TO CREATE MORE THAN 1,300 JOBS IN THE NEXT TWO YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Kibbe President/ceo | OfficerTrustee | 40 | $188,438 |
Rashad Morris Chair | OfficerTrustee | 3 | $6,600 |
Ken Takahashi Vice Chair | OfficerTrustee | 3 | $4,200 |
Thomas Kuljam Secretary | OfficerTrustee | 3 | $7,800 |
Karen Mciver Treasurer | OfficerTrustee | 3 | $6,900 |
Virginia Calvin Member | Trustee | 2 | $4,200 |
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 | $5,794,237 |
| Investment income | $3,369 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,969 |
| 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 | $5,839,619 |
| 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. | $905,370 |
| Compensation of current officers, directors, key employees. | $271,611 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,165,424 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $382,930 |
| Payroll taxes | $268,442 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $262,056 |
| 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 | $96,541 |
| Advertising and promotion | $146,427 |
| Office expenses | $49,972 |
| Information technology | $242,423 |
| Royalties | $0 |
| Occupancy | $426,688 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $124,413 |
| Interest | $55,183 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $120,644 |
| Insurance | $88,932 |
| All other expenses | $0 |
| Total functional expenses | $5,522,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,974,744 |
| Savings and temporary cash investments | $2,533,988 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $684,896 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $800,944 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $84,554 |
| Net Land, buildings, and equipment | $2,613,701 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,503,011 |
| Total assets | $10,195,838 |
| Accounts payable and accrued expenses | $467,134 |
| 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 | $3,541,338 |
| Unsecured mortgages and notes payable | $535,294 |
| Other liabilities | $1,351,553 |
| Total liabilities | $5,895,319 |
| Net assets without donor restrictions | $4,300,519 |
| 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 | $10,195,838 |