Springboard Cdfi
- Assets
- $9.3m
- Revenue
- $168.9k
- Investments
- $0.0
- Employees
- 2
- Location
- National City, CA
- Founding
- 04/1982
- Data as of
- 12/2022
- EIN
- 95-3685889
Organization Overview
Springboard Cdfi is located in National City, CA. The organization was established in 1982. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Springboard Cdfi employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Springboard Cdfi 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 12/2022, Springboard Cdfi generated $168.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (34.0%) each year. All expenses for the organization totaled $384.8k during the year ending 12/2022. 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
BRIDGING THE WEALTH GAP IN AMERICA BY PROVIDING SCALED SOLUTIONS AND ACCESS TO CAPITAL; WITH A FOCUS ON FIRST-TIME HOMEBUYERS, PEOPLE OF COLOR, AND RURAL COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Paradzick Director | Trustee | 1 | $0 |
Todd Emerson Board Chair | Officer | 1 | $0 |
Denis Gitschier Treasurer | Officer | 1 | $0 |
Steven Clark Secretary | Officer | 1 | $0 |
Angelique Capalbo President | Officer | 40 | $94,890 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Springboard Social Enterprises Management Service | 12/30/18 | $381,711 |
Speridian Technologies It Service | 12/30/18 | $176,646 |
Creditorg Management Service | 12/30/18 | $151,677 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $169,794 |
| Investment income | $77 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,804 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $168,905 |
| 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. | $116,433 |
| Compensation of current officers, directors, key employees. | $101,216 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $39,957 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,152 |
| Payroll taxes | $9,747 |
| Fees for services: Management | $38,621 |
| Fees for services: Legal | $925 |
| Fees for services: Accounting | $19,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $878 |
| Advertising and promotion | $0 |
| Office expenses | $1,208 |
| Information technology | $10,036 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,798 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,219 |
| Insurance | $55,461 |
| All other expenses | $9,777 |
| Total functional expenses | $384,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,525,650 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,410 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,786,778 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $26,665 |
| Net Land, buildings, and equipment | $236 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,349,739 |
| Accounts payable and accrued expenses | $82,126 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $618,826 |
| Total liabilities | $700,952 |
| Net assets without donor restrictions | -$166,065 |
| Net assets with donor restrictions | $8,814,852 |
| 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 | $9,349,739 |