Cdc Small Business Finance Corp
- Assets
- $118.5m
- Revenue
- $27.6m
- Investments
- $2.1m
- Employees
- 192
- Location
- San Diego, CA
- Founding
- 09/1981
- Data as of
- 12/2023
- EIN
- 95-3512045
Organization Overview
Cdc Small Business Finance Corp is located in San Diego, CA. The organization was established in 1981. 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 12/2023, Cdc Small Business Finance Corp employed 192 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cdc Small Business Finance Corp 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 12/2023, Cdc Small Business Finance Corp generated $27.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $26.5m during the year ending 12/2023. While expenses have increased by 8.0% per year over the past 9 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE HELP BUILD INCLUSIVE AND EQUITABLE COMMUNITIES BY PROVIDING PEOPLE ACCESS TO THE CAPITAL AND OPPORTUNITIES THEY DESERVE.
Describe the Organization's Program Activity:
COMMUNITY LOAN PROGRAMS: CDC ORIGINATES, SERVICES, AND SELLS LOANS GUARANTEED BY THE SBA UNDER ITS COMMUNITY ADVANTAGE 7A PROGRAM. THESE LOANS ARE USED BY THE BORROWERS FOR A VARIETY OF PURPOSES AND ARE CAPPED AT $350,000 PER LOAN. CDC ALSO ADMINISTERS SEVERAL LENDING PROGRAMS INCLUDING THE SBA MICROLOAN PROGRAM, A STATE SPONSORED COMMUNITY ADJUSTMENT AND INVESTMENT LOAN PROGRAM, LA DIRECT AND FAST TO FUND, CALIFORNIA REBUILDING FUND, ACTIVATE DETROIT, AND MOTOR CITY CONTRACORS FUND, ALL OF WHICH ARE DESIGNED TO PROVIDE LOANS TO SMALL BUSINESSES.
SBA SECTION 504 LOAN PROGRAM: CDC'S PRIMARY SOURCE OF REVENUE IS THE SERVICING AND PROCESSING OF THE SMALL BUSINESS ADMINISTRATION'S ("SBA") 504 LOAN PROGRAMS. THE 504 LOAN PROGRAM PROVIDES LONG-TERM, FIXED RATE FINANCING FOR MAJOR FIXED ASSETS THAT PROMOTE BUSINESS GROWTH AND JOB CREATION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellis Carr President & CEO | OfficerTrustee | 20 | $0 |
Kurt Chilcott Director/consultant | Trustee | 7 | $0 |
Alaina Beverly Director | Trustee | 1 | $0 |
Gail Markulin Director | Trustee | 1 | $0 |
Pedro Goitia Director | Trustee | 1 | $0 |
L Ray Moncrief Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Todd E Kobernick Legal Services | 12/30/23 | $521,750 |
Kurt Chilcott Retirement Disbursements | 12/30/23 | $310,562 |
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 | $2,654,144 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,654,144 |
| Total Program Service Revenue | $12,517,485 |
| Investment income | $5,869,905 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $169,111 |
| Net Gain/Loss on Asset Sales | $2,712,844 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,607,207 |
| 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. | $921,163 |
| Compensation of current officers, directors, key employees. | $284,719 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,107,347 |
| Pension plan accruals and contributions | $1,422,798 |
| Other employee benefits | $2,109,978 |
| Payroll taxes | $1,262,786 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $623,017 |
| Fees for services: Accounting | $475,741 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $59,306 |
| Fees for services: Other | $0 |
| Advertising and promotion | $385,583 |
| Office expenses | $150,672 |
| Information technology | $1,018,555 |
| Royalties | $0 |
| Occupancy | $207,728 |
| Travel | $154,745 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,091,452 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $683,412 |
| Insurance | $173,219 |
| All other expenses | $0 |
| Total functional expenses | $26,543,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,811,428 |
| Savings and temporary cash investments | $10,775,928 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,210,507 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $69,085,602 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,820,900 |
| Net Land, buildings, and equipment | $6,792,914 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,132,422 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $895,244 |
| Total assets | $118,524,945 |
| Accounts payable and accrued expenses | $4,490,385 |
| Grants payable | $0 |
| Deferred revenue | $929,673 |
| 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 | $45,295,301 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,542,411 |
| Total liabilities | $53,257,770 |
| Net assets without donor restrictions | $59,722,926 |
| Net assets with donor restrictions | $5,544,249 |
| 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 | $118,524,945 |