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Nonprofiteer
← PACIFIC COMMUNITY VENTURES

Form 990 for tax year 2023

Filed by PACIFIC COMMUNITY VENTURES.

Totals

Total revenue
$7,734,075
Total expenses
$6,411,162
Contributions and grants received
$6,188,276
Grants paid
$0
Program service revenue
$1,346,048
Investment income
$199,751
Other revenue
$0
Total assets, end of year
$32,014,630
Total liabilities, end of year
$19,096,859
Net assets or fund balances, end of year
$12,917,771
Program services expenses (Part IX)
$5,231,781
Management and general expenses
$923,736
Fundraising expenses
$255,645
Program service expenses (Part III)
$5,231,781

Program services were 81.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $6,188,276

  • 2a · Program service revenue: LENDING

    total $1,211,048 · related or exempt $1,211,048

  • 2b · Program service revenue: BUSINESS ADVISING

    total $135,000 · related or exempt $135,000

  • 3 · Investment income

    total $250,256 · excluded $250,256

  • 7a · Gross sales of assets other than inventory

    securities $4,359,086

  • 7b · Less cost or other basis and sales expenses

    securities $4,409,591

  • 7c · Gain or loss

    securities -$50,505

  • 7d · Net gain or loss

    total -$50,505 · excluded -$50,505

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $665,520 · program services $389,575 · management and general $206,948 · fundraising $68,997

  • 7 · Other salaries and wages

    total $1,968,122 · program services $1,523,598 · management and general $382,764 · fundraising $61,760

  • 9 · Other employee benefits

    total $743,189 · program services $474,541 · management and general $262,123 · fundraising $6,525

  • 10 · Payroll taxes

    total $205,723 · program services $150,923 · management and general $44,656 · fundraising $10,144

  • 11f · Fees: investment management

    total $31,973 · program services $25,271 · management and general $4,980 · fundraising $1,722

  • 11g · Fees: other

    total $954,029 · program services $943,724 · management and general $5,603 · fundraising $4,702

  • 12 · Advertising and promotion

    total $30,229 · program services $50,989 · management and general -$20,760

  • 13 · Office expenses

    total $37,213 · program services $29,395 · management and general $5,686 · fundraising $2,132

  • 14 · Information technology

    total $268,727 · program services $266,881 · management and general $1,372 · fundraising $474

  • 16 · Occupancy

    total $206,132 · program services $195,545 · management and general $7,867 · fundraising $2,720

  • 17 · Travel

    total $126,135 · program services $115,414 · management and general $7,967 · fundraising $2,754

  • 19 · Conferences, conventions and meetings

    total $12,304 · program services $11,868 · management and general $324 · fundraising $112

  • 20 · Interest

    total $358,245 · program services $358,245

  • 22 · Depreciation, depletion and amortization

    total $13,422 · program services $10,608 · management and general $2,091 · fundraising $723

  • 23 · Insurance

    total $45,897 · program services $36,277 · management and general $7,149 · fundraising $2,471

  • 24a · Other expenses: LOAN LOSS EXPENSE

    total $289,205 · program services $289,205

  • 24b · Other expenses: GJGB INCENTIVIES

    total $130,650 · program services $130,650

  • 24c · Other expenses: PROJECT EXPENSE

    total $123,750 · program services $123,750

  • 24d · Other expenses: EVENTS

    total $110,183 · program services $24,007 · management and general $668 · fundraising $85,508

  • 24e · All other expenses

    total $90,514 · program services $81,315 · management and general $4,298 · fundraising $4,901

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,092,442 · end of year $1,293,632

  • 2 · Savings and temporary cash investments

    beginning of year $2,675,345 · end of year $8,001,180

  • 3 · Pledges and grants receivable

    beginning of year $36,870 · end of year $1,870

  • 4 · Accounts receivable

    beginning of year $88,230 · end of year $1,110,880

  • 9 · Prepaid expenses and deferred charges

    beginning of year $36,087 · end of year $57,272

  • 10a · Land, buildings and equipment: cost or other basis

    $90,157

  • 10b · Land, buildings and equipment: accumulated depreciation

    $72,819

  • 10c · Land, buildings and equipment, net

    beginning of year $30,760 · end of year $17,338

  • 11 · Investments: publicly traded securities

    beginning of year $3,936,198 · end of year $5,884,093

  • 12 · Investments: other securities

    beginning of year $205,401 · end of year $131,247

  • 15 · Other assets

    beginning of year $14,278,638 · end of year $15,517,118

  • 17 · Accounts payable and accrued expenses

    beginning of year $631,126 · end of year $672,693

  • 19 · Deferred revenue

    beginning of year $175,000 · end of year $95,000

  • 21 · Escrow or custodial account liability

    beginning of year $66,673 · end of year $66,673

  • 24 · Unsecured notes and loans payable

    beginning of year $14,627,161 · end of year $18,003,229

  • 25 · Other liabilities

    beginning of year $439,419 · end of year $259,264

  • 27 · Net assets without donor restrictions

    beginning of year $9,113,969 · end of year $10,020,164

  • 28 · Net assets with donor restrictions

    beginning of year $2,326,623 · end of year $2,897,607

Mission and programs · 2023

Mission

PACIFIC COMMUNITY VENTURES SUPPORTS SMALL BUSINESS OWNERS AND THEIR COMMUNITIES IN THE FIGHT FOR ECONOMIC, RACIAL, AND GENDER JUSTICE. WE WORK SIDE-BY-SIDE WITH GROWING SMALL BUSINESS LEADERS AND SOLOPRENEUERS THROUGH OUR INTEGRATED MODEL: COMBINING IMPACT-FIRST RESTORATIVE CAPITAL AND PRO BONO BUSINESS ADVISING WITH OUR GOOD JOBS INNOVATION LAB THAT PROPELS THRIVING COMMUNITIES WITH EQUITABLE JOBS. PACIFIC COMMUNITY VENTURES IS A 501C3 NONPROFIT IMPACT INVESTOR AND COMMUNITY DEVELOPMENT FINANCIAL INSTITITUION (CDFI).

Activities or mission (Part I)

TO SUPPORT SMALL BUSINESS OWNERS AND THEIR COMMUNITIES IN THE FIGHT FOR ECONOMIC, RACIAL AND GENDER JUSTICE.

  • INNOVATION LAB - THIS PROGRAM DESIGNS PRODUCTS, SERVICES, AND COMMUNICATIONS TO HELP OUR SMALL BUSINESS CLIENTS MAXIMIZE THEIR LOCAL ECONOMIC IMPACT THROUGH THE POWER OF PROVIDING GOOD JOBS WITH DIGINITY. THE GOOD JOBS INNOVATION LAB USES BEHAVIORAL ECONOMICS, APPLIED RESEARCH, AND DATA ANALYTICS TO PROMOTE EVIDENCE-BASED, HIGH IMPACT INTERVENTIONS THAT LEAD TO A MORE INCLUSIVEECONOMY.

    Expenses $1,823,880

  • SMALL BUSINESS ADVISING INTEGRATED LENDING LOAN FUND PROVIDES DEBT CAPITAL AND RESOURCES TO HIGH GROWTH CALIFORNIA BUSINESSES THAT CREATE JOBS AND OPPORTUNITIES IN LOWER INCOME COMMUNITIES.

    Expenses $850,328 · Revenue $1,211,048

  • PROVIDES SMALL, UNDERCAPITALIZED BUSINESSES IN LOW/MODERATE INCOME COMMUNITIES WITH KEY RESOURCES AND INSIGHTS. THIS BUSINESS ADVISORY SERVICE ALLOWS THESE BUSINESSES TO GROW AND WEATHER CHALLENGES, WHICH CONTRIBUTES TO EMPLOYMENT IN LOW/MODERATE INCOME COMMUNITIES, AND GREATER ECONOMIC VITALITY IN THOSE COMMUNITIES.

    Expenses $2,557,573 · Revenue $135,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • AMIR KIRKWOOD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • TERESA PAHL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • SANJAY DATTA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • JASMINE THOMAS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • CECIL PLUMMER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • CINDY KACZMAREK

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1.5

  • KATIE KALVODA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • CAROLINA MARTINEZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • LILI GANGAS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • OLIVIA REBANAL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • BULBUL GUPTA

    PRESIDENT & CEO

    Total calculated
    $302,241
    From this org
    $275,986
    From related orgs
    $0
    Other
    $26,255
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,986
    Bonus
    $53,000
    Other
    $0
    Deferred
    $2,000
    Nontaxable benefits
    $24,255
    Filer's total
    $302,241

  • KETAV PATEL

    CFO

    Total calculated
    $180,230
    From this org
    $165,550
    From related orgs
    $0
    Other
    $14,680
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,550
    Bonus
    $5,000
    Other
    $0
    Deferred
    $1,600
    Nontaxable benefits
    $13,080
    Filer's total
    $180,230

  • ROBERT PORTER

    MANAGING DIRECTOR, BA & LE

    Total calculated
    $254,832
    From this org
    $223,983
    From related orgs
    $0
    Other
    $30,849
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,893
    Bonus
    $23,090
    Other
    $0
    Deferred
    $2,000
    Nontaxable benefits
    $28,849
    Filer's total
    $254,832

  • ROBYN MILLER

    DIRECTOR, FINANCE & OPERAT

    Total calculated
    $230,591
    From this org
    $205,262
    From related orgs
    $0
    Other
    $25,329
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,484
    Bonus
    $47,778
    Other
    $0
    Deferred
    $2,000
    Nontaxable benefits
    $23,329
    Filer's total
    $230,591

  • ROBYN ROGIN

    DIRECTOR, LENDING

    Total calculated
    $180,755
    From this org
    $155,720
    From related orgs
    $0
    Other
    $25,035
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,133
    Bonus
    $20,587
    Other
    $0
    Deferred
    $2,000
    Nontaxable benefits
    $23,035
    Filer's total
    $180,755

  • DEEDRE' SCOTT

    DIRECTOR, HUMAN RESOURCES

    Total calculated
    $144,546
    From this org
    $127,412
    From related orgs
    $0
    Other
    $17,134
    Hours/week
    40

  • CATHERINE BELL

    CHIEF IMPACT OFFICER, LAB

    Total calculated
    $185,402
    From this org
    $165,019
    From related orgs
    $0
    Other
    $20,383
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,113
    Bonus
    $23,906
    Other
    $0
    Deferred
    $2,000
    Nontaxable benefits
    $18,383
    Filer's total
    $185,402

  • CHARLES FISHER-POST

    ASSOCIATE DIRECTOR, GOOD JOBS INNOVATION LABS

    Total calculated
    $116,107
    From this org
    $105,669
    From related orgs
    $0
    Other
    $10,438
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202443199349309709

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