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Nonprofiteer
← ARIZONA CAPITAL SOURCE

Form 990 for tax year 2024

Filed by ARIZONA CAPITAL SOURCE.

Totals

Total revenue
$5,194,192
Total expenses
$4,421,412
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,702,366
Investment income
$491,826
Other revenue
$0
Total assets, end of year
$21,946,788
Total liabilities, end of year
$6,368,698
Net assets or fund balances, end of year
$15,578,090
Program services expenses (Part IX)
$3,534,474
Management and general expenses
$886,938
Fundraising expenses
$0
Program service expenses (Part III)
$3,534,474

Program services were 79.9% 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.

  • 2a · Program service revenue: SERVICING FEES

    total $2,075,625 · related or exempt $2,075,625

  • 2b · Program service revenue: LOAN INTEREST INCOME

    total $1,280,370 · related or exempt $1,280,370

  • 2c · Program service revenue: CLOSING FEES

    total $642,748 · related or exempt $642,748

  • 2d · Program service revenue: CONSULTING FEES

    total $467,634 · related or exempt $467,634

  • 2e · Program service revenue: RECOVERY OF LENDERS RESERVES

    total $199,769 · related or exempt $199,769

  • 2f · All other program service revenue

    total $36,220 · related or exempt $36,220

  • 3 · Investment income

    total $295,691 · excluded $295,691

  • 7a · Gross sales of assets other than inventory

    other assets $2,328,776

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

    other assets $2,132,641

  • 7c · Gain or loss

    other assets $196,135

  • 7d · Net gain or loss

    total $196,135 · excluded $196,135

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $661,724 · program services $509,527 · management and general $152,197

  • 7 · Other salaries and wages

    total $1,713,278 · program services $1,331,707 · management and general $381,571

  • 8 · Pension plan contributions

    total $54,831 · program services $41,132 · management and general $13,699

  • 10 · Payroll taxes

    total $179,221 · program services $136,583 · management and general $42,638

  • 11b · Fees: legal

    total $136,290 · management and general $136,290

  • 11c · Fees: accounting

    total $35,940 · management and general $35,940

  • 11g · Fees: other

    total $461,515 · program services $402,672 · management and general $58,843

  • 12 · Advertising and promotion

    total $83,058 · program services $83,058

  • 13 · Office expenses

    total $257,610 · program services $237,650 · management and general $19,960

  • 16 · Occupancy

    total $89,427 · program services $89,427

  • 17 · Travel

    total $22,979 · program services $22,979

  • 20 · Interest

    total $440,016 · program services $440,016

  • 22 · Depreciation, depletion and amortization

    total $6,864 · program services $6,864

  • 23 · Insurance

    total $56,590 · program services $10,790 · management and general $45,800

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $186,395 · program services $186,395

  • 24b · Other expenses: OTHER EXPENSES

    total $18,969 · program services $18,969

  • 24c · Other expenses: SUPPLIES

    total $8,904 · program services $8,904

  • 24d · Other expenses: LOAN RELATED EXPENSES

    total $7,801 · program services $7,801

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,678,312 · end of year $5,933,490

  • 2 · Savings and temporary cash investments

    beginning of year $2,555,433 · end of year $206,551

  • 4 · Accounts receivable

    beginning of year $604,604 · end of year $653,763

  • 7 · Other notes and loans receivable

    beginning of year $16,873,423 · end of year $14,422,715

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

    $170,004

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

    $154,697

  • 10c · Land, buildings and equipment, net

    beginning of year $12,308 · end of year $15,307

  • 13 · Investments: program-related

    beginning of year $314,121 · end of year $319,405

  • 15 · Other assets

    beginning of year $338,605 · end of year $395,557

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,072,986 · end of year $1,081,316

  • 23 · Secured mortgages and notes payable

    beginning of year $7,249,042 · end of year $5,103,666

  • 25 · Other liabilities

    beginning of year $249,468 · end of year $183,716

  • 27 · Net assets without donor restrictions

    beginning of year $9,576,115 · end of year $10,141,097

  • 28 · Net assets with donor restrictions

    beginning of year $5,229,195 · end of year $5,436,993

Mission and programs · 2024

Mission

PROMOTING AND ASSISTING THE GROWTH AND DEVELOPMENT OF THE ARIZONA ECONOMY.

  • A. SBA 504 LENDING-PROVIDE AFFORDABLE LONG TERM FIXED ASSET FINANCING TO SMALL BUSINESSES TO PURCHASE OWNER OCCUPIED COMMERCIAL REAL ESTATE, OR MACHINERY AND EQUIPMENT.B. SBA COMMUNITY ADVANTAGE 7(A) LENDING- PROVIDE AFFORDABLE FINANCING TO SMALL BUSINESSES.C. ECONOMIC DEVELOPMENT CONSULTING-ASSIST OTHER NON PROFITS OR GOVERNMENTAL ENTITIES WITH PROJECTS THAT PROMOTE ECONOMIC DEVELOPMENT AND GROWTH.D. COMMUNITY LENDING

    Expenses $3,534,474 · Revenue $4,702,366

As filed on the 2024 return.

Listed in Part VII

  • Benjamin Danner

    CHAIR

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sean Murray

    VICE CHAIR

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mark Jebelian

    TREASURER

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jennifer Alai

    SECRETARY

    Total calculated
    $350
    From this org
    $350
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Michael Hammond

    DIRECOR

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Moothart

    DIRECTOR

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kendall Bert

    DIRECTOR

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Evelyn Casuga

    DIRECTOR

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Gilbert Davidson

    DIRECTOR

    Total calculated
    $350
    From this org
    $350
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Judie Scalise

    DIRECTOR

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Welsh

    DIRECTOR

    Total calculated
    $350
    From this org
    $350
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Laurie Sandau

    DIRECTOR

    Total calculated
    $300
    From this org
    $300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeffrey Hays

    DIRECTOR (THRU JAN 2025)

    Total calculated
    $150
    From this org
    $150
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Michael Wetnight

    DIRECTOR (THRU JAN 2025)

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Gary Molenda

    PRESIDENT

    Total calculated
    $382,310
    From this org
    $323,033
    From related orgs
    $0
    Other
    $59,277
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $305,433
    Bonus
    $17,600
    Other
    $0
    Deferred
    $13,353
    Nontaxable benefits
    $45,924
    Filer's total
    $382,310

  • Gabriel Gomez

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $235,935
    From this org
    $193,085
    From related orgs
    $0
    Other
    $42,850
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $179,085
    Bonus
    $14,000
    Other
    $0
    Deferred
    $7,987
    Nontaxable benefits
    $34,863
    Filer's total
    $235,935

  • Jessica Gauff

    CLOSING OFFICER

    Total calculated
    $149,820
    From this org
    $108,368
    From related orgs
    $0
    Other
    $41,452
    Hours/week
    40

  • Ross Kohl

    VP RELATIONSHIP MGR

    Total calculated
    $214,399
    From this org
    $147,309
    From related orgs
    $0
    Other
    $67,090
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,109
    Bonus
    $7,200
    Other
    $0
    Deferred
    $4,734
    Nontaxable benefits
    $62,356
    Filer's total
    $214,399

  • Anthony Martinez

    VP BUSINESS RELATIONSHIP MGR

    Total calculated
    $118,924
    From this org
    $115,872
    From related orgs
    $0
    Other
    $3,052
    Hours/week
    40

  • Lori Simmons

    SR BUSINESS RELATIONSHIP MGR

    Total calculated
    $183,995
    From this org
    $158,262
    From related orgs
    $0
    Other
    $25,733
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,518
    Bonus
    $7,744
    Other
    $0
    Deferred
    $6,380
    Nontaxable benefits
    $19,353
    Filer's total
    $183,995

  • Brent Smith

    VP CREDIT MANAGER

    Total calculated
    $155,300
    From this org
    $148,865
    From related orgs
    $0
    Other
    $6,435
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,305
    Bonus
    $10,560
    Other
    $0
    Deferred
    $5,954
    Nontaxable benefits
    $481
    Filer's total
    $155,300

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 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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • GROWTH PARTNERS ARIZONA

    501(C)(3) · LOANS AND TECHNICAL ASSISTANCE TO NONPROFITS AND SMALL BUSINESSES · AZ

    Directly controlled by ARIZONA CAPITAL SOURCE

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • ADVANTAGE HOUSING SERVICES LLC

    CONSULTING FOR NONPROFIT HOUSING PROGRAMS · AZ · income $0 · assets $0

    Directly controlled by ARIZONA CAPITAL SOURCE

  • BDFC ADVISOR SERVICES LLC

    CONSULTING THAT IS NOT FOR HOUSING PROGRAMS OR SBA 504 RELATED · AZ · income $498,726 · assets $121,523

    Directly controlled by ARIZONA CAPITAL SOURCE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • TUCSON INNOVATION CENTER INC

    C · CONSULTING FOR FOR-PROFIT REAL ESTATE DEVELOPMENT · AZ · 100% owned · share of income $2,057 · controlled entity

    Directly controlled by ARIZONA CAPITAL SOURCE

Provenance

Return type
form_990
Tax year
2024
Filed
14 August 2026
IRS schema version
2024v5.5
Source object
202632269349303568

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