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← EVERGREEN BUSINESS CAPITAL

Form 990 for tax year 2023

Filed by EVERGREEN BUSINESS CAPITAL.

Totals

Total revenue
$5,856,012
Total expenses
$5,722,471
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,742,101
Investment income
$57,725
Other revenue
$56,186
Total assets, end of year
$9,907,305
Total liabilities, end of year
$5,510,816
Net assets or fund balances, end of year
$4,396,489
Program services expenses (Part IX)
$3,719,129
Management and general expenses
$1,933,209
Fundraising expenses
$70,133
Program service expenses (Part III)
$3,719,129

Program services were 65.0% 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 $3,308,072 · related or exempt $3,308,072

  • 2b · Program service revenue: FLOAT INTEREST

    total $1,014,086 · related or exempt $1,014,086

  • 2c · Program service revenue: DEBENTURE FEES

    total $996,807 · related or exempt $996,807

  • 2d · Program service revenue: RENTAL REVENUE

    total $378,617 · related or exempt $378,617

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

    total $33,702 · related or exempt $33,702

  • 2f · All other program service revenue

    total $10,817 · related or exempt $10,817

  • 3 · Investment income

    total $57,725 · excluded $57,725

  • 6a · Gross rents

    real property $58,542

  • 6b · Less rental expenses

    real property $16,709

  • 6c · Rental income or loss

    real property $41,833

  • 6d · Net rental income or loss

    total $41,833 · excluded $41,833

  • 11a · Other revenue: OTHER INCOME

    total $14,353 · excluded $14,353

  • 11e · Other revenue, total

    $14,353

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $805,746 · program services $564,022 · management and general $241,724

  • 7 · Other salaries and wages

    total $2,349,679 · program services $1,733,144 · management and general $561,792 · fundraising $54,743

  • 9 · Other employee benefits

    total $475,260 · program services $349,327 · management and general $115,622 · fundraising $10,311

  • 10 · Payroll taxes

    total $283,436 · program services $206,603 · management and general $71,754 · fundraising $5,079

  • 11b · Fees: legal

    total $197,409 · program services $74,280 · management and general $123,129

  • 11g · Fees: other

    total $104,794 · program services $51,913 · management and general $52,881

  • 12 · Advertising and promotion

    total $118,284 · program services $60,933 · management and general $57,351

  • 13 · Office expenses

    total $40,508 · program services $17,184 · management and general $23,324

  • 14 · Information technology

    total $47,153 · program services $22,434 · management and general $24,719

  • 16 · Occupancy

    total $474,627 · program services $306,181 · management and general $168,446

  • 19 · Conferences, conventions and meetings

    total $172,037 · program services $23,821 · management and general $148,216

  • 20 · Interest

    total $75,952 · program services $75,952

  • 22 · Depreciation, depletion and amortization

    total $122,944 · program services $13,982 · management and general $108,962

  • 23 · Insurance

    total $99,437 · program services $79,787 · management and general $19,650

  • 24a · Other expenses: COMPUTER MAINTENANCE

    total $179,557 · program services $108,823 · management and general $70,734

  • 24b · Other expenses: BUSINESS TAXES

    total $70,387 · program services $4,501 · management and general $65,886

  • 24c · Other expenses: OTHER EXPENSES

    total $58,146 · program services $16,561 · management and general $41,585

  • 24d · Other expenses: DUES AND MEMBERSHIPS

    total $47,115 · program services $9,681 · management and general $37,434

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,974,744 · end of year $2,538,600

  • 2 · Savings and temporary cash investments

    beginning of year $2,533,988 · end of year $1,904,169

  • 4 · Accounts receivable

    beginning of year $684,896 · end of year $105,484

  • 7 · Other notes and loans receivable

    beginning of year $800,944 · end of year $1,253,700

  • 9 · Prepaid expenses and deferred charges

    beginning of year $84,554 · end of year $157,136

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

    $6,000,100

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

    $3,498,185

  • 10c · Land, buildings and equipment, net

    beginning of year $2,613,701 · end of year $2,501,915

  • 15 · Other assets

    beginning of year $1,503,011 · end of year $1,446,301

  • 17 · Accounts payable and accrued expenses

    beginning of year $467,134 · end of year $441,808

  • 23 · Secured mortgages and notes payable

    beginning of year $3,541,338 · end of year $3,402,199

  • 24 · Unsecured notes and loans payable

    beginning of year $535,294 · end of year $478,146

  • 25 · Other liabilities

    beginning of year $1,351,553 · end of year $1,188,663

  • 27 · Net assets without donor restrictions

    beginning of year $4,300,519 · end of year $4,396,489

Mission and programs · 2023

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 68 LOANS TOTALING $75.6 MILLION FOR CAPITAL PROJECTS WORTH $209.7 MILLION. THESE PROJECTS ARE PROJECTED TO CREATE MORE THAN 1,307 JOBS IN THE NEXT TWO YEARS.

    Expenses $3,719,129 · Revenue $5,742,101

As filed on the 2023 return.

Listed in Part VII

  • Patricia Kibbe

    PRESIDENT/CEO

    Total calculated
    $284,155
    From this org
    $243,937
    From related orgs
    $0
    Other
    $40,218
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,937
    Bonus
    $48,000
    Other
    $0
    Deferred
    $18,001
    Nontaxable benefits
    $22,217
    Filer's total
    $284,155

  • 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
    $7,800
    From this org
    $7,800
    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

  • Stacy Tomuro

    MEMBER

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

  • Tara Vagen

    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

  • Amit Ranade

    MEMBER

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

  • Sarah Howard

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Annie Lant-Smith

    EVP/COO

    Total calculated
    $206,500
    From this org
    $163,726
    From related orgs
    $0
    Other
    $42,774
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,942
    Bonus
    $26,784
    Other
    $0
    Deferred
    $25,377
    Nontaxable benefits
    $17,397
    Filer's total
    $206,500

  • Gregg Swanson

    SVP/CCO

    Total calculated
    $154,362
    From this org
    $114,481
    From related orgs
    $0
    Other
    $39,881
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,816
    Bonus
    $10,665
    Other
    $0
    Deferred
    $16,599
    Nontaxable benefits
    $23,282
    Filer's total
    $154,362

  • Lori Milton

    SVP/SALES MANAGER

    Total calculated
    $211,773
    From this org
    $162,772
    From related orgs
    $0
    Other
    $49,001
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,772
    Bonus
    $12,000
    Other
    $0
    Deferred
    $30,000
    Nontaxable benefits
    $19,001
    Filer's total
    $211,773

  • Sean Devlin

    LOAN OFFICER

    Total calculated
    $179,383
    From this org
    $149,709
    From related orgs
    $0
    Other
    $29,674
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,162
    Bonus
    $42,547
    Other
    $0
    Deferred
    $8,508
    Nontaxable benefits
    $21,166
    Filer's total
    $179,383

  • Barbara Jones-Broudy

    LOAN OFFICER

    Total calculated
    $172,345
    From this org
    $137,880
    From related orgs
    $0
    Other
    $34,465
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,020
    Bonus
    $25,860
    Other
    $0
    Deferred
    $8,273
    Nontaxable benefits
    $26,192
    Filer's total
    $172,345

  • Theresa Smith

    DEVELOPMENT OFFICER

    Total calculated
    $147,329
    From this org
    $120,530
    From related orgs
    $0
    Other
    $26,799
    Hours/week
    40

  • Kathy Austin

    OPERATIONS MANAGER

    Total calculated
    $142,198
    From this org
    $112,503
    From related orgs
    $0
    Other
    $29,695
    Hours/week
    40

  • Ryane Brougham

    LOAN OFFICER

    Total calculated
    $139,676
    From this org
    $110,016
    From related orgs
    $0
    Other
    $29,660
    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
2023
Filed
5 March 2025
IRS schema version
2023v6.0
Source object
202500659349301625

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

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