Arcata Economic Development Corp

Organization Overview

Arcata Economic Development Corp, operating under the name Aedc Small Business Lending Center, is located in Eureka, CA. The organization was established in 1980. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Aedc Small Business Lending Center employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aedc Small Business Lending Center 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 06/2022, Aedc Small Business Lending Center generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $842.9k during the year ending 06/2022. While expenses have increased by 2.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROMOTE ECONOMIC DEVELOPMENT IN THE NORTH COAST REGION OF CALIFORNIA BY PROVIDING BUSINESS LENDING AND TECHNICAL ASSISTANCE SERVICES, COMMUNITY ECONOMIC DEVELOPMENT ASSISTANCE, AND MICROLOAN BUSINESS ASSISTANCE & TRAINING.

Describe the Organization's Program Activity:

Part 3 - Line 4a

AEDC PROVIDES LOANS FOR SMALL BUSINESSES LOCATED THROUGHOUT NORTHERN CALIFORNIA. AEDC MADE 12 NEW LOANS DURING THE FISCAL YEAR. AT YEAR END, AEDC HAD 52 SMALL BUSINESS LOANS IN ITS PORTFOLIO. ADDITIONALLY, AEDC ADMINISTERED SMALL BUSINESS LOANS FOR LOCAL GOVERNMENTAL AGENCIES AND PROVIDED TECHNICAL ASSISTANCE AND TRAINING TO SMALL BUSINESSES THROUGHOUT NORTHERN CALIFORNIA.


AEDC MANAGES SEVERAL PROGRAMS TO PROMOTE ECONOMIC DEVELOPMENT IN NORTHERN CALIFORNIA. AEDC ORGANIZES AN ECONOMIC DEVELOPMENT SUMMIT TO SUPPORT ENTREPRENEURS AND SMALL BUSINESSES. EMERGING LEADERS ARE BROUGHT TOGETHER FOR ESTABLISHING COLLABORATIVE STRATEGIES. AEDC PROVIDES OPPORTUNITIES FOR LOCAL NATIVE TRIBES TO COLLABORATE IN APPLYING FOR GRANTS.


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Board, Officers & Key Employees

Name (title)Compensation
Ross Welch
Executive Director
$82,355
Mandy Marquez
President
$0
Larry Oetker
Secretary
$0
Janet Depace
Vice President
$0
Michael Proulx
Treasurer
$0
Walt Geist
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,550,605
All other contributions, gifts, grants, and similar amounts not included above$25,109
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,575,714
Total Program Service Revenue$616,015
Investment income $1,715
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 $2,196,456

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Arcata Economic Development Corp has recieved totaling $35,000.

Awarding OrganizationAmount
California Association For Microenterprise Opportunity

San Francisco, CA

PURPOSE: CA SBA Grant

$35,000
View Grant Recipient Profile

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