Business Finance Capital
- Assets
- $7.7m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 29
- Location
- Los Angeles, CA
- Founding
- 03/1992
- Data as of
- 06/2022
- EIN
- 95-4313041
Organization Overview
Business Finance Capital is located in Los Angeles, CA. The organization was established in 1992. 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, Business Finance Capital employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business Finance Capital is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2022, Business Finance Capital generated $11.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $9.4m during the year ending 06/2022. While expenses have increased by 17.3% per year over the past 7 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
TO PROMOTE JOB CREATION AND RETENTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED LOANS AND SERVICING OF LOANS TO SMALL BUSINESSES THROUGH THE SMALL BUSINESS ADMINISTRATION LOAN PROGRAM. THE ORGANIZATION IS A CERTFIED DEVELOPMENT COMPANY. THE PROGRAM ACTIVITIES DEVELOP AND SUSTAIN THE ECONOMY AND PROMOTE SMALL BUSINESS GROWTH, WHILE RETAINING AND CREATING JOBS FOR COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherry F Martin Chairman | OfficerTrustee | 2 | $0 |
Larry Scherzer CFO | OfficerTrustee | 2 | $0 |
Jack R Cline Jr Secretary/treasurer | OfficerTrustee | 2 | $0 |
Iris Alvarado Board Member | Trustee | 2 | $0 |
Alan Thian Board Member | Trustee | 2 | $0 |
Thomas Walsmith Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vanguard Realty Advisors Llc Appraisal Services | 6/29/22 | $510,850 |
Odic Environmental Environmental Survey Services | 6/29/22 | $345,350 |
Solm Underwriting Underwriting/closing Services | 6/29/22 | $196,750 |
Law Offices Of Michael Rubenstein Legal/closing Services | 6/29/22 | $338,344 |
Law Offices Of Randolph C Houts Legal/closing Services | 6/29/22 | $170,015 |
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 | $11,624,180 |
| Investment income | $111,372 |
| 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 | $11,735,552 |
| 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. | $1,133,102 |
| Compensation of current officers, directors, key employees. | $190,377 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,815,076 |
| Pension plan accruals and contributions | $449,282 |
| Other employee benefits | $161,806 |
| Payroll taxes | $208,563 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,811 |
| Fees for services: Accounting | $108,046 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,787 |
| Advertising and promotion | $249,017 |
| Office expenses | $533,193 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $506,556 |
| 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 | $20,572 |
| Insurance | $165,553 |
| All other expenses | $0 |
| Total functional expenses | $9,438,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,082,772 |
| Savings and temporary cash investments | $504,362 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $127,546 |
| Net Land, buildings, and equipment | $35,094 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,749,774 |
| Accounts payable and accrued expenses | $328,862 |
| Grants payable | $0 |
| Deferred revenue | $706,514 |
| 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 | $441,692 |
| Total liabilities | $1,477,068 |
| Net assets without donor restrictions | $6,272,706 |
| 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 | $7,749,774 |