Craft3 is located in Astoria, OR. The organization was established in 1995. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Craft3 employed 81 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Craft3 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, Craft3 generated $26.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $14.6m during the year ending 12/2021. While expenses have increased by 4.1% 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
TO STRENGTHEN ECONOMIC, ECOLOGICAL AND FAMILY RESILIENCE IN PACIFIC NORTHWEST COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LENDING ACTIVITIES: PROVIDING BUSINESS SUPPORT, MARKETING ASSISTANCE AND HIGH RISK NON-BANK CREDIT TO BUSINESSES AND INDIVIDUALS IN WASHINGTON AND OREGON. IMPROVING THE PHYSICAL AND ECONOMIC ENVIRONMENTS THROUGH REDUCTION OF WASTE, ENERGY AND CHEMICAL USAGE THROUGH MISSION BASED LENDING.
PROGRAM CONSULTING: PROVIDING EXPERT GUIDANCE IN STRATEGIC PLANNING, ORGANIZATIONAL DEVELOPMENT, ECONOMIC DEVELOPMENT, AND REAL ESTATE DEVELOPMENT. THE SERVICES ARE DESIGNED TO ASSIST BUSINESSES, NON-PROFIT ORGANIZATIONS AND LOCAL GOVERNMENTS IN ACCOMPLISHING THEIR GOALS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Adam Zimmerman Chief Executive Officer | Officer | 40 | $274,765 |
Michael Dickerson Innovation And Evaluation Director | Officer | 40 | $204,473 |
Ronalene Monteith Chief Credit Officer, Evp | Officer | 40 | $185,069 |
Mark Stevenson Chief Financial Officer, Evp | Officer | 40 | $174,375 |
Walter Postlewait II Nmtc Investment Officer | Officer | 40 | $159,385 |
Turner Waskom Commercial Lending Director, SVP | Officer | 40 | $152,582 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Jordan Ramis Pc Attorneys At Law Legal | 12/30/21 | $308,400 |
Frank Recruitment Group Inc Consulting | 12/30/21 | $136,652 |
Moss Adams Llp Accounting | 12/30/21 | $121,194 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $4,347,726 |
All other contributions, gifts, grants, and similar amounts not included above | $9,644,846 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $13,992,572 |
Total Program Service Revenue | $10,600,655 |
Investment income | $297,741 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $2,045,548 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $26,936,516 |
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. | $1,630,553 |
Compensation of current officers, directors, key employees. | $698,663 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $4,884,972 |
Pension plan accruals and contributions | $1,751,660 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $107,335 |
Fees for services: Lobbying | $56,400 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $487,002 |
Office expenses | $37,350 |
Information technology | $530,910 |
Royalties | $0 |
Occupancy | $553,285 |
Travel | $45,902 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $2,200,668 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $83,046 |
Insurance | $120,522 |
All other expenses | $753,094 |
Total functional expenses | $14,583,042 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $14,746,521 |
Savings and temporary cash investments | $10,861,940 |
Pledges and grants receivable | $879,600 |
Accounts receivable, net | $1,154,635 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $118,019,959 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $278,352 |
Net Land, buildings, and equipment | $434,256 |
Investments—publicly traded securities | $26,740,801 |
Investments—other securities | $0 |
Investments—program-related | $1,176,557 |
Intangible assets | $0 |
Other assets | $4,273,304 |
Total assets | $178,565,925 |
Accounts payable and accrued expenses | $1,292,496 |
Grants payable | $0 |
Deferred revenue | $1,267,662 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $146,514 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $107,228,486 |
Other liabilities | $0 |
Total liabilities | $109,935,158 |
Net assets without donor restrictions | $63,945,469 |
Net assets with donor restrictions | $4,685,298 |
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 | $178,565,925 |
Over the last fiscal year, we have identified 9 grants that Craft3 has recieved totaling $2,060,596.
Awarding Organization | Amount |
---|---|
Oregon Community Foundation Portland, OR PURPOSE: Economic Development | $990,000 |
Northwest Area Foundation St Paul, MN PURPOSE: UPLIFT AMERICA FUND | $720,000 |
M J Murdock Charitable Trust Vancouver, WA PURPOSE: NEW LENDING STAFF | $175,500 |
M J Murdock Charitable Trust Vancouver, WA PURPOSE: NEW LENDING STAFF | $58,500 |
Northwest Area Foundation St Paul, MN PURPOSE: UPLIFT AMERICA GENERAL OPERATING SUPPORT | $50,000 |
The Seattle Foundation Seattle, WA PURPOSE: TO PROVIDE GENERAL SUPPORT | $42,500 |
Organization Name | Assets | Revenue |
---|---|---|
California Manufacturing Technology Consulting Torrance, CA | $11,048,363 | $31,611,156 |
Craft3 Astoria, OR | $178,565,925 | $26,936,516 |
Business Finance Capital Los Angeles, CA | $7,749,774 | $11,735,552 |
Los Angeles Cleantech Incubator Los Angeles, CA | $4,675,991 | $8,340,208 |
Economic Development Corporation Of Los Angeles Los Angeles, CA | $29,436,314 | $9,374,870 |
Main Street Launch Oakland, CA | $33,776,792 | $12,838,427 |
Inquiring Systems Inc Santa Rosa, CA | $7,524,299 | $8,764,937 |
Oregon Manufacturing Extension Partnership Inc Portland, OR | $2,663,862 | $6,607,892 |
Mce Social Capital San Francisco, CA | $62,791,597 | $6,149,930 |
Renaissance Entrepreneurship Center San Francisco, CA | $5,879,123 | $7,123,665 |
Pacific Community Ventures Oakland, CA | $20,029,825 | $8,516,576 |
Pacific Coast Regional Urban Small Business Development Corporation Los Angeles, CA | $22,353,411 | $11,894,942 |