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← EVERGREEN BUSINESS CAPITAL

Form 990 for tax year 2022

Filed by EVERGREEN BUSINESS CAPITAL.

Totals

Total revenue
$5,839,619
Total expenses
$5,522,336
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,794,237
Investment income
$3,369
Other revenue
$42,013
Total assets, end of year
$10,195,838
Total liabilities, end of year
$5,895,319
Net assets or fund balances, end of year
$4,300,519
Program services expenses (Part IX)
$3,602,758
Management and general expenses
$1,846,321
Fundraising expenses
$73,257
Program service expenses (Part III)
$3,602,758

Program services were 65.2% 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 $3,203,964 · related or exempt $3,203,964

  • 2b · Program service revenue: DEBENTURE FEES

    total $1,194,927 · related or exempt $1,194,927

  • 2c · Program service revenue: FLOAT INTEREST

    total $971,738 · related or exempt $971,738

  • 2d · Program service revenue: RENTAL REVENUE

    total $358,544 · related or exempt $358,544

  • 2e · Program service revenue: INTEREST & FEES - COMM

    total $33,373 · related or exempt $33,373

  • 2f · All other program service revenue

    total $31,691 · related or exempt $31,691

  • 3 · Investment income

    total $3,369 · excluded $3,369

  • 6a · Gross rents

    real property $47,827

  • 6b · Less rental expenses

    real property $22,858

  • 6c · Rental income or loss

    real property $24,969

  • 6d · Net rental income or loss

    total $24,969 · excluded $24,969

  • 11a · Other revenue: OTHER INCOME

    total $17,044 · excluded $17,044

  • 11e · Other revenue, total

    $17,044

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $905,370 · program services $633,759 · management and general $271,611

  • 7 · Other salaries and wages

    total $2,165,424 · program services $1,628,797 · management and general $478,016 · fundraising $58,611

  • 9 · Other employee benefits

    total $382,930 · program services $286,104 · management and general $87,463 · fundraising $9,363

  • 10 · Payroll taxes

    total $268,442 · program services $198,096 · management and general $65,063 · fundraising $5,283

  • 11b · Fees: legal

    total $262,056 · program services $92,716 · management and general $169,340

  • 11g · Fees: other

    total $96,541 · program services $36,564 · management and general $59,977

  • 12 · Advertising and promotion

    total $146,427 · program services $84,206 · management and general $62,221

  • 13 · Office expenses

    total $49,972 · program services $19,917 · management and general $30,055

  • 14 · Information technology

    total $242,423 · program services $114,420 · management and general $128,003

  • 16 · Occupancy

    total $426,688 · program services $288,462 · management and general $138,226

  • 19 · Conferences, conventions and meetings

    total $124,413 · program services $23,000 · management and general $101,413

  • 20 · Interest

    total $55,183 · program services $55,183

  • 22 · Depreciation, depletion and amortization

    total $120,644 · program services $16,014 · management and general $104,630

  • 23 · Insurance

    total $88,932 · program services $71,091 · management and general $17,841

  • 24a · Other expenses: BUSINESS TAXES

    total $78,440 · program services $6,572 · management and general $71,868

  • 24b · Other expenses: EQUIPMENT RENTAL

    total $45,018 · program services $21,641 · management and general $23,377

  • 24c · Other expenses: DUES AND MEMBERSHIPS

    total $41,796 · program services $10,095 · management and general $31,701

  • 24d · Other expenses: OTHER EXPENSES

    total $21,637 · program services $16,121 · management and general $5,516

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,199,910 · end of year $1,974,744

  • 2 · Savings and temporary cash investments

    beginning of year $2,465,073 · end of year $2,533,988

  • 4 · Accounts receivable

    beginning of year $269,051 · end of year $684,896

  • 7 · Other notes and loans receivable

    beginning of year $921,635 · end of year $800,944

  • 9 · Prepaid expenses and deferred charges

    beginning of year $94,318 · end of year $84,554

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

    $5,988,943

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

    $3,375,242

  • 10c · Land, buildings and equipment, net

    beginning of year $2,686,968 · end of year $2,613,701

  • 15 · Other assets

    beginning of year $1,002,571 · end of year $1,503,011

  • 17 · Accounts payable and accrued expenses

    beginning of year $503,002 · end of year $467,134

  • 23 · Secured mortgages and notes payable

    beginning of year $3,720,555 · end of year $3,541,338

  • 24 · Unsecured notes and loans payable

    beginning of year $591,901 · end of year $535,294

  • 25 · Other liabilities

    beginning of year $830,451 · end of year $1,351,553

  • 27 · Net assets without donor restrictions

    beginning of year $3,993,617 · end of year $4,300,519

Mission and programs · 2022

Mission

OUR MISSION IS TO PROVIDE SUPERIOR ECONOMIC DEVELOPMENT SOLUTIONS THAT SUPPORT SMALL BUSINESS STABILITY, GROWTH AND JOB CREATION. EVERGREEN BUSINESS CAPITAL IS A SMALL BUSINESS ADMINISTRATION (SBA) CERTIFIED FINANCIAL DEVELOPMENT COMPANY.

Activities or mission (Part I)

ACCREDITED AS A CERTIFIED DEVELOPMENT COMPANY BY SBA, WE OFFER BUSINESS CAPITAL SERVICES THAT ENHANCE SMALL BUSINESS GROWTH IN WA, OR, AK, AND ID.

  • THE ORGANIZATION AUTHORIZED OVER 76 LOANS TOTALING $76.6 MILLION FOR CAPITAL PROJECTS WORTH $221.8 MILLION. THESE PROJECTS ARE PROJECTED TO CREATE MORE THAN 1,300 JOBS IN THE NEXT TWO YEARS.

    Expenses $3,602,758 · Revenue $5,794,237

As filed on the 2022 return.

Listed in Part VII

  • Patricia Kibbe

    PRESIDENT/CEO

    Total calculated
    $216,375
    From this org
    $188,438
    From related orgs
    $0
    Other
    $27,937
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,438
    Bonus
    $0
    Other
    $0
    Deferred
    $16,317
    Nontaxable benefits
    $11,620
    Filer's total
    $216,375

  • Rashad Morris

    CHAIR

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Ken Takahashi

    VICE CHAIR

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Thomas Kuljam

    SECRETARY

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Karen McIver

    TREASURER

    Total calculated
    $6,900
    From this org
    $6,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Virginia Calvin

    MEMBER

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Tina Houston

    MEMBER

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Beto Yarce

    MEMBER

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Stacy Tomuro

    MEMBER

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dana Armine

    MEMBER

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Annie Lant-Smith

    EVP/COO

    Total calculated
    $216,783
    From this org
    $175,175
    From related orgs
    $0
    Other
    $41,608
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,175
    Bonus
    $0
    Other
    $0
    Deferred
    $24,778
    Nontaxable benefits
    $16,830
    Filer's total
    $216,783

  • Gregg Swanson

    SVP/CCO

    Total calculated
    $160,760
    From this org
    $131,875
    From related orgs
    $0
    Other
    $28,885
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,875
    Bonus
    $0
    Other
    $0
    Deferred
    $12,021
    Nontaxable benefits
    $16,864
    Filer's total
    $160,760

  • Lori Milton

    SVP/SALES MANAGER

    Total calculated
    $225,573
    From this org
    $187,068
    From related orgs
    $0
    Other
    $38,505
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,068
    Bonus
    $0
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $11,505
    Filer's total
    $225,573

  • Barbara Jones-Broudy

    LOAN OFFICER

    Total calculated
    $186,539
    From this org
    $160,935
    From related orgs
    $0
    Other
    $25,604
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,935
    Bonus
    $0
    Other
    $0
    Deferred
    $9,348
    Nontaxable benefits
    $16,256
    Filer's total
    $186,539

  • Tyler Kretchmer

    LOAN OFFICER

    Total calculated
    $148,878
    From this org
    $133,948
    From related orgs
    $0
    Other
    $14,930
    Hours/week
    30

  • Theresa Smith

    DEVELOPMENT OFFICER

    Total calculated
    $140,056
    From this org
    $122,292
    From related orgs
    $0
    Other
    $17,764
    Hours/week
    40

  • Sean Devlin

    LOAN OFFICER

    Total calculated
    $123,897
    From this org
    $107,159
    From related orgs
    $0
    Other
    $16,738
    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 · 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)

PART I, LINE 3
SBA SURVEY DATA IS USED EVERY 3-5 YEARS, AND SALARY BUDGET IS REVIEWED AND APPROVED AT BOARD MEETING EXECUTIVE SESSIONS.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
27 March 2024
IRS schema version
2022v5.0
Source object
202420879349301007

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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