Pacific Coast Regional Urban Small Business Development Corporation
- Assets
- $19.6m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 42
- Location
- Los Angeles, CA
- Founding
- 10/1981
- Data as of
- 06/2022
- EIN
- 95-3182187
Organization Overview
Pacific Coast Regional Urban Small Business Development Corporation is located in Los Angeles, CA. The organization was established in 1981. 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 06/2022, Pacific Coast Regional Urban Small Business Development Corporation employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pacific Coast Regional Urban Small Business Development Corporation 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, Pacific Coast Regional Urban Small Business Development Corporation generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $3.9m during the year ending 06/2022. While expenses have increased by 13.3% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDA REVOLVING LOAN FUND UNDER AGREEMENTS WITH THE ECONOMIC DEVELOPMENT ADMINISTRATION (EDA), THE ORGANIZATION RECEIVED FEDERAL GRANTS TO CAPITALIZE A REVOLVING LOAN FUND (RLF). THE RLF CAPITAL IS USED BY THE ORGANIZATION TO MAKE LOANS TO SMALL BUSINESSES IN ECONOMICALLY DISADVANTAGED AREAS WITHIN THE COUNTY OF LOS ANGELES.
OTHER PROGRAM SERVICES PRIMARILY CONSIST OF OTHER FINANCIAL (I.E. DIRECT LENDING, LOAN UNDERWRITING, LOAN SERVICING) AND EDUCATIONAL SERVICES TO UNDERSERVED SMALL BUSINESS PERSONS AND COMMUNITIES.
METRO BIFTHE ORGANIZATION IS CONTRACTED TO PROVIDE ADMINISTRATIVE SERVICES ON BEHALF OF THE LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY ("METRO") BUSINESS INTERRUPTION FUND ("BIF"). THE METRO BIF PROGRAM PROVIDES GRANT FUNDS TO OWNERS OF SMALL BUSINESSES THAT ARE DIRECTLY IMPACTED BY METRO CONSTRUCTION ACTIVITIES. AS OF JUNE 30, 2020, THE ORGANIZATION HAD ADMINISTERED THE DISBURSEMENT OF $28,372,051 OF METRO BIF GRANT FUNDS TO QUALIFYING GRANTEES.
SMALL BUSINESS DEVELOPMENT CENTER (SBDC)THE ORGANIZATION HOSTS A SERVICE CENTER WITHIN THE US SMALL BUSINESS ADMINISTRATION'S SMALL BUSINESS DEVELOPMENT CENTER (SBDC) NETWORK. THROUGH THIS PROGRAM, THE ORGANIZATION PROVIDES COUNSELING AND TRAINING SERVICES TO SMALL BUSINESS OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tenzer Cunningham Board Member | Trustee | 2 | $0 |
David Ross Chairman | Trustee | 2 | $0 |
Drucilla Garcia-Richardson Vice Chair | Trustee | 2 | $0 |
Harold Hart-Nibbrig Secretary | Trustee | 2 | $33,861 |
James D Hicken Board Member | Trustee | 2 | $0 |
Karen A Clark Treasurer | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,134,340 |
| All other contributions, gifts, grants, and similar amounts not included above | $610,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,744,340 |
| Total Program Service Revenue | $4,059,326 |
| Investment income | $631 |
| 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 | $5,804,297 |
| 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. | $521,777 |
| Compensation of current officers, directors, key employees. | $69,749 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,146,962 |
| Pension plan accruals and contributions | $44,779 |
| Other employee benefits | $198,921 |
| Payroll taxes | $163,076 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,159 |
| Fees for services: Accounting | $154,221 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $108,993 |
| Advertising and promotion | $7,649 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $165,887 |
| Travel | $6,913 |
| 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 | $88,313 |
| Insurance | $21,882 |
| All other expenses | $7,609 |
| Total functional expenses | $3,947,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,778,443 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $974,017 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,541,070 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $90,271 |
| Net Land, buildings, and equipment | $2,220,808 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,908 |
| Total assets | $19,616,517 |
| Accounts payable and accrued expenses | $388,238 |
| 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 | $2,952,831 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $131,228 |
| Total liabilities | $3,472,297 |
| Net assets without donor restrictions | $10,498,642 |
| Net assets with donor restrictions | $5,645,578 |
| 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 | $19,616,517 |