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Nonprofiteer
← CALIFORNIA FINANCE CONSORTIUM

Form 990 for tax year 2023

Filed by CALIFORNIA FINANCE CONSORTIUM.

Totals

Total revenue
$6,246
Total expenses
$724,706
Contributions and grants received
$0
Grants paid
$700,000
Program service revenue
$6,246
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,741,979
Total liabilities, end of year
$301,000
Net assets or fund balances, end of year
$1,440,979
Program services expenses (Part IX)
$719,680
Management and general expenses
$5,026
Fundraising expenses
$0
Program service expenses (Part III)
$719,680

Program services were 99.3% 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: Loan interest and fees

    total $6,246 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $700,000 · program services $700,000

  • 11a · Fees: management

    total $19,500 · program services $19,500 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $5,000 · program services $0 · management and general $5,000 · fundraising $0

  • 11g · Fees: other

    total $180 · program services $180 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $26 · program services $0 · management and general $26 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,019,501 · end of year $1,606,369

  • 7 · Other notes and loans receivable

    beginning of year $140,738 · end of year $135,610

  • 17 · Accounts payable and accrued expenses

    beginning of year $800 · end of year $1,000

  • 19 · Deferred revenue

    beginning of year $0 · end of year $300,000

  • 27 · Net assets without donor restrictions

    beginning of year $1,479,739 · end of year $755,214

  • 28 · Net assets with donor restrictions

    beginning of year $679,700 · end of year $685,765

Mission and programs · 2023

Mission

The California Finance Consortium provides loss protection and capital support to its member lenders in the form of loan guarantees and loan participations.

  • The California Finance Consortium (CFC) is made up of its member lenders: 3CORE, Arcata Economic Development Corporation, Superior California Economic Development, and Yuba-Sutter Economic Development Corporation. Consistent with their economic development mission, CFC helps member lenders deliver well- structured and reasonably priced capital to healthy, growing, small businesses in underserved areas. This is accomplished by purchasing a participation share in and assuming equal risk for loans underwritten and approved by member lenders. The CFC also offers loan guarantees as an additional credit enhancement for member lenders.

    Expenses $719,680 · Grants $700,000 · Revenue $6,246

As filed on the 2023 return.

Listed in Part VII

  • Brynda Stranix

    President

    Total calculated
    $0
    Hours/week
    1

  • Ross Welch

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Patty Hess

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Ryan Richardson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joanna Williams

    Finance Officer

    Total calculated
    $0
    Hours/week
    10

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
28 October 2024
IRS schema version
2023v5.1
Source object
202423099349302272

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