Totals
- Total revenue
- $18,269,112
- Total expenses
- $10,805,892
- Contributions and grants received
- $12,136,951
- Grants paid
- $1,600,077
- Program service revenue
- $5,800,275
- Investment income
- $285,542
- Other revenue
- $46,344
- Total assets, end of year
- $70,114,897
- Total liabilities, end of year
- $35,749,678
- Net assets or fund balances, end of year
- $34,365,219
- Program services expenses (Part IX)
- $8,584,606
- Management and general expenses
- $1,889,490
- Fundraising expenses
- $331,796
- Program service expenses (Part III)
- $8,584,606
Program services were 79.4% 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.
-
1e · Government grants (contributions)
$11,051,909
-
1f · All other contributions, gifts and grants
$1,085,042
-
2a · Program service revenue: NEW MARKET TAX CREDIT PROGRAM
total $3,106,418 · related or exempt $3,106,418
-
2b · Program service revenue: LOAN INTEREST
total $2,060,579 · related or exempt $2,060,579
-
2c · Program service revenue: GRANT ADMIN. FEES
total $326,635 · related or exempt $326,635
-
2d · Program service revenue: LOAN ORIG/SVC FEES
total $306,643 · related or exempt $306,643
-
3 · Investment income
total $285,542 · excluded $285,542
-
11a · Other revenue: MISCELLANEOUS INCOME
total $46,344 · related or exempt $46,344
-
11e · Other revenue, total
$46,344
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $932,145 · program services $932,145
-
2 · Grants to domestic individuals
total $667,932 · program services $667,932
-
5 · Compensation of officers, directors and key employees
total $756,752 · program services $242,097 · management and general $395,048 · fundraising $119,607
-
7 · Other salaries and wages
total $2,697,764 · program services $2,030,715 · management and general $604,876 · fundraising $62,173
-
8 · Pension plan contributions
total $31,176 · program services $28,217 · management and general $2,222 · fundraising $737
-
9 · Other employee benefits
total $235,148 · program services $158,074 · management and general $64,991 · fundraising $12,083
-
10 · Payroll taxes
total $266,842 · program services $176,356 · management and general $76,530 · fundraising $13,956
-
11b · Fees: legal
total $125,806 · program services $74,343 · management and general $43,526 · fundraising $7,937
-
11d · Fees: lobbying
total $7,000 · management and general $7,000
-
11g · Fees: other
total $1,443,368 · program services $907,658 · management and general $463,883 · fundraising $71,827
-
13 · Office expenses
total $421,509 · program services $283,204 · management and general $115,894 · fundraising $22,411
-
16 · Occupancy
total $150,371 · program services $99,380 · management and general $43,127 · fundraising $7,864
-
17 · Travel
total $77,682 · program services $51,340 · management and general $22,279 · fundraising $4,063
-
19 · Conferences, conventions and meetings
total $76,428 · program services $50,511 · management and general $21,920 · fundraising $3,997
-
20 · Interest
total $576,051 · program services $576,051
-
22 · Depreciation, depletion and amortization
total $51,307 · program services $33,909 · management and general $14,715 · fundraising $2,683
-
24a · Other expenses: NEW MARKET TAX CREDIT
total $1,710,000 · program services $1,710,000
-
24b · Other expenses: REDUCTION IN LOAN LOSS
total $531,610 · program services $531,610
-
24c · Other expenses: BANK CHARGES
total $47,001 · program services $31,064 · management and general $13,479 · fundraising $2,458
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $15,052,524 · end of year $17,250,832
-
2 · Savings and temporary cash investments
beginning of year $21,705,481 · end of year $19,622,934
-
3 · Pledges and grants receivable
beginning of year $645,319 · end of year $1,988,400
-
4 · Accounts receivable
beginning of year $167,107 · end of year $160,023
-
7 · Other notes and loans receivable
beginning of year $29,098,052 · end of year $30,393,232
-
9 · Prepaid expenses and deferred charges
beginning of year $47,118 · end of year $55,817
-
10a · Land, buildings and equipment: cost or other basis
$378,553
-
10b · Land, buildings and equipment: accumulated depreciation
$213,556
-
10c · Land, buildings and equipment, net
beginning of year $41,685 · end of year $164,997
-
15 · Other assets
beginning of year $612,242 · end of year $478,662
-
17 · Accounts payable and accrued expenses
beginning of year $365,622 · end of year $657,327
-
23 · Secured mortgages and notes payable
beginning of year $6,871,552 · end of year $5,537,665
-
24 · Unsecured notes and loans payable
beginning of year $22,021,617 · end of year $18,856,607
-
25 · Other liabilities
beginning of year $11,208,738 · end of year $10,698,079
-
27 · Net assets without donor restrictions
beginning of year $23,414,166 · end of year $30,436,814
-
28 · Net assets with donor restrictions
beginning of year $3,487,833 · end of year $3,928,405
Mission and programs · 2022
Mission
TO ACCELERATE COMMUNITY PROSPERITY BY FINANCING AND SUPPORTING ENTREPRENEURS AND SMALL BUSINESSES.
-
SMALL BUSINESS LOAN PROGRAM - CEF AGGREGATES AND LEVERAGES CAPITAL TO SPUR INVESTMENT AND BUILD CAPACITY FOR THOSE WHO ARE EXCLUDED FROM MAINSTREAM BANK FINANCING AND ENTREPRENEURIAL NETWORKS, SPECIFICALLY TARGETING LOW- INCOME AND MINORITY SMALL BUSINESS OWNERS. CEF PROVIDES FINANCING OPTIONS WHEN BANKS CANNOT LEND OR CANNOT LEND ENOUGH, SPECIALIZING IN LOANS UP TO 500,000 FOR NEW AND EXISTING SMALL BUSINESSES AND SOCIAL ENTERPRISES THROUGHOUT COLORADO. CEF CATALYZES BUSINESS OWNERSHIP AND JOB CREATION BY OFFERING FLEXIBLE FINANCING PRODUCTS, PERSONALIZED CLIENT SUPPORT, ONE-ON- ONE BUSINESS COACHING, AND ACCESS TO ADDITIONAL RESOURCES FOR UNDERSERVED ENTREPRENEURS.
Expenses $6,984,529 · Revenue $5,800,275
-
DURING 2022, CEF ENTERED INTO AGREEMENTS WITH GOVERNMENTAL ENTITIES TO ADMINISTER GRANT PROGRAMS FOR SMALL BUSINESSES AFFECTED BY ECONOMIC HARDSHIP CAUSED BY THE COVID-19 PANDEMIC, FUNDED BY THE STATE OF COLORADO AND THE AMERICAN RESCUE PLAN ACT (ARPA). BECAUSE OF CEF'S INVOLVEMENT IN GRANTMAKING ACTIVITIES FOR THESE PROGRAMS, GRANT REVENUE AND GRANT EXPENSES ARE REPORTED IN THE STATEMENTS OF ACTIVITIES.
Expenses $1,600,077 · Grants $1,600,077
As filed on the 2022 return.
Listed in Part VII
-
Cecilia PrinsterCECILIA PRINSTER
PRESIDENT AN
- Total calculated
- $191,036
- From this org
- $183,019
- From related orgs
- $0
- Other
- $8,017
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $162,519
- Bonus
- $20,500
- Other
- not reported
- Deferred
- $6,692
- Nontaxable benefits
- $1,325
- Filer's total
- $191,036
-
Dave MeskoDAVE MESKO
CFO & CAO TH
- Total calculated
- $113,931
- From this org
- $109,027
- From related orgs
- $0
- Other
- $4,904
- Hours/week
- 40
-
Nim PatelNIM PATEL
INTERIM CFO
- Total calculated
- $170,744
- From this org
- $170,744
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $170,244
- Bonus
- $500
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $170,744
-
Lewis HaglerLEWIS HAGLER
DIR BUSINESS
- Total calculated
- $125,608
- From this org
- $121,471
- From related orgs
- $0
- Other
- $4,137
- Hours/week
- 40
-
Alan RamirezALAN RAMIREZ
DIR OF STRAT
- Total calculated
- $130,648
- From this org
- $111,656
- From related orgs
- $0
- Other
- $18,992
- Hours/week
- 40
-
Tina RobinsonTINA ROBINSON
DIR OF FIN T
- Total calculated
- $138,058
- From this org
- $123,034
- From related orgs
- $0
- Other
- $15,024
- Hours/week
- 40
-
Carrie HansonCARRIE HANSON
DIR OF DEVEL
- Total calculated
- $124,357
- From this org
- $108,701
- From related orgs
- $0
- Other
- $15,656
- Hours/week
- 40
-
Brian PeaglerBRIAN PEAGLER
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Andrew RubinANDREW RUBIN
V CHAIR, SEC
- Total calculated
- $0
- Hours/week
- 2
-
Paul BunyardPAUL BUNYARD
TREASURER, A
- Total calculated
- $0
- Hours/week
- 2
-
Izzy AbbassIZZY ABBASS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ed BriscoeED BRISCOE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mizraim CorderoMIZRAIM CORDERO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Susan GrafSUSAN GRAF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Simone RossSIMONE ROSS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kyle FrazerKYLE FRAZER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Sean KoutsakisSEAN KOUTSAKIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Liddy RomeroLIDDY ROMERO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
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 · Form 990 of other organizations
- 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
The filer's explanations (Part III)
- SCHEDULE J, PART III
- PART I, LINE 3 - THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS ANNUALLY PERFORMS A COMPENSATION REVIEW FOR THE CEO AND APPROVES SALARY INCREASES AND BONUSES. THIS INCLUDES THE USE OF SALARY DATA ON SIMILAR POSITIONS FROM EMPLOYER'S COUNCIL.
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
-
100 PERCENT CHIROPRACTIC SUPR LLC
$20,000
DISASTER RECOVERY
-
ARG LIMITED
$20,000
DISASTER RECOVERY
-
EAST WEST WELLNESS LLC
$20,000
DISASTER RECOVERY
-
ELEVATE COLORADO
$20,000
DISASTER RECOVERY
-
FEARLESS MOTION DANCE CENTER
$20,000
DISASTER RECOVERY
-
FITNESS CYCLING SUPERIOR LLC
$20,000
DISASTER RECOVERY
-
FRINGE INNOVATIONS
$20,000
DISASTER RECOVERY
-
JUNIPER PAINTS
$20,000
DISASTER RECOVERY
-
KIDSPOT PHYSICAL THERAPY LLC
$20,000
DISASTER RECOVERY
-
MCSTERLINGLTD
$20,000
DISASTER RECOVERY
The 10 largest by cash amount. The API serves every itemized grant.
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.
-
CEF SUB-CDE 1 LLC
RELATED · NMTC · CO · 0.01% owned · share of income $62,225 · share of assets $1,371 · general or managing partner
Directly controlled by CEF
-
CEF SUB-CDE 2 LLC
RELATED · INVESTMENT · CO · 0.01% owned · share of income $41,786 · share of assets $1,285 · general or managing partner
Directly controlled by CEF
-
CEF SUB-CDE 3 LLC
RELATED · INVESTMENT · CO · 0.01% owned · share of income $34,393 · share of assets $894 · general or managing partner
Directly controlled by CEF
-
CEF SUB-CDE 4 LLC
RELATED · INVESTMENT · CO · 0.01% owned · share of income $35,143 · share of assets $894 · general or managing partner
Directly controlled by CEF
-
CEF SUB-CDE 5 LLC
RELATED · NMTC · CO · 0.01% owned · share of income $52,857 · share of assets $2,991 · general or managing partner
Directly controlled by CEF
-
CEF SUB-CDE 6 LLC
RELATED · NMTC · CO · 0.01% owned · share of income $16,393 · share of assets $899 · general or managing partner
Directly controlled by CEF
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 3 June 2024
- IRS schema version
- 2022v5.0
- Source object
- 202441559349301459
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.