Springboard Cdfi
- Assets
- $9.6m
- Revenue
- $676.9k
- Investments
- $0.0
- Employees
- 10
- Location
- National City, CA
- Founding
- 04/1982
- Data as of
- 12/2021
- 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 12/2021, Springboard Cdfi employed 10 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 12/2021, Springboard Cdfi generated $676.9k 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 (22.4%) each year. All expenses for the organization totaled $494.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (21.1%) per year over the past 7 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
2021
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 |
|---|---|---|---|
Joanne Cordero Former President | 40 | $194,273 | |
Todd Emerson Chair/president | Officer | 1 | $0 |
Denis Gitschier Treasurer | Officer | 1 | $0 |
Steven Clark Secretary | Officer | 1 | $0 |
Curtis Paradzick Director | Trustee | 1 | $0 |
John Perlstein Director | Trustee | 1 | $0 |
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 | $137,119 |
| 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 | $137,119 |
| Total Program Service Revenue | $463,879 |
| Investment income | $14 |
| 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 | $676,910 |
| 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. | $207,831 |
| Compensation of current officers, directors, key employees. | $192,537 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $51,121 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,199 |
| Payroll taxes | $22,234 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,404 |
| Fees for services: Accounting | $28,311 |
| 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 | $928 |
| Information technology | $5,540 |
| Royalties | $0 |
| Occupancy | $1,150 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,862 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,761 |
| Insurance | $42,225 |
| All other expenses | $17,610 |
| Total functional expenses | $494,843 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,022,293 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,507,095 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $38,372 |
| Net Land, buildings, and equipment | $4,259 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,572,019 |
| Accounts payable and accrued expenses | $83,105 |
| 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 | $624,206 |
| Total liabilities | $707,311 |
| Net assets without donor restrictions | -$472,735 |
| Net assets with donor restrictions | $9,337,443 |
| 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 | $9,572,019 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Springboard Cdfi has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Jewish Community Foundation Of San Diego San Diego, CA PURPOSE: GENERAL | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Viamonte Senior Living San Francisco, CA | $242,110,392 | $7,634,323 |
Charles Apartments Housing Corporation Hayward, CA | $0 | $319,066 |
Satellite Affordable Housing Associates Berkeley, CA | $83,294,736 | $13,591,508 |
Rhf Foundation Long Beach, CA | $215,917,223 | $14,903,975 |
Sheltercare Eugene, OR | $4,357,138 | $9,135,740 |
Midpen Resident Services Corporation Foster City, CA | $3,702,334 | $11,407,168 |
Bridge Property Management Company San Francisco, CA | $1,233,636 | $9,360,308 |
Burbank Housing Corporation Burbank, CA | $47,643,861 | $6,370,585 |
Habitat For Humanity San Fernando/Santa Clarita Valleys Woodland Hills, CA | $1 | $4,168,206 |
Do Good Multnomah Portland, OR | $6,858,210 | $9,987,432 |
Satellite Aha Development Inc Berkeley, CA | $17,466,494 | $5,909,155 |
Housing Trust Silicon Valley San Jose, CA | $250,989,111 | $21,448,557 |