San Fernando Valley Small Business Development Corporation
- Assets
- $440.0k
- Revenue
- $304.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Van Nuys, CA
- Founding
- 07/1980
- Data as of
- 06/2022
- EIN
- 95-3464246
Organization Overview
San Fernando Valley Small Business Development Corporation, operating under the name Golden State Certified Development Corporation, is located in Van Nuys, CA. The organization was established in 1980. 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, Golden State Certified Development Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Golden State Certified 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, Golden State Certified Development Corporation generated $304.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $292.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.7%) per year over the past 3 years. 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
TO ASSIST SMALL BUSINESSES TO ACCESS CAPITAL FOR GROWTH AND SUSTAINABILITY THROUGH VARIOUS LENDING ACTIVITIES AND TO CREATE AND SUSTAIN JOBS WITHIN DISTRESSED AND DISADVANTAGED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS A CERTIFIED DEVELOPMENT CORPORATON (CDC), AN AGENT OF THE U.S. SMALL BUSINESS ADMINISTRATION, AND AS SUCH ORIGINATES, SERVICES, AND MONITORS SBA 504 LOAN TRANSACTIONS TO QUALIFYING BUSINESSES. THE OBJECTIVE OF THE PROGRAM IS TO PROMOTE BUSINESS GROWTH AND CREATE/SUSTAIN EMPLOYMENT. THE CORPORATION ALSO OPERATES A DIRECT LOAN PROGRAM THAT LENDS FUNDS TO SMALL BUSINESSES. THE MAXIMUM LOAN AMOUNT IS $200,000 AND THE SMALL BUSINESS MAY USE THE LOAN PROCEEDS FOR WORKING CAPITAL, REAL ESTATE (EXCEPT FOR REAL ESTATE ACQUIRED AND HELD PRIMARILY FOR SALE, LEASE OR INVESTMENT), OR THE ACQUISITION OF MATERIALS, SUPPLIES, FURNITURE, FIXTURES OR EQUIPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miguel Juarez President/executive Director | Officer | 40 | $97,492 |
Andrew Barrera Board Secretary | Trustee | 2 | $0 |
David Iwata Board Member | Trustee | 2 | $0 |
Sal Mendoza Board Member | Trustee | 2 | $0 |
Leon Pink Board Member | Trustee | 2 | $0 |
George Stavaris Board Chair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $97,398 |
| 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 | $97,398 |
| Total Program Service Revenue | $206,576 |
| 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 | $303,974 |
| 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. | $97,492 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,674 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,603 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,035 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,506 |
| Interest | $12,991 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,341 |
| All other expenses | $4,038 |
| Total functional expenses | $292,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $285,778 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $43,749 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $92,745 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,945 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,829 |
| Total assets | $440,046 |
| Accounts payable and accrued expenses | $23,423 |
| 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 | $624,627 |
| Unsecured mortgages and notes payable | $3,811 |
| Other liabilities | $0 |
| Total liabilities | $651,861 |
| Net assets without donor restrictions | -$211,815 |
| 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 | $440,046 |