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Nonprofiteer
← BIN SBA LOAN INC

Form 990 for tax year 2023

Filed by BIN SBA LOAN INC.

Totals

Total revenue
$31,428
Total expenses
$643
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$18,740
Investment income
$0
Other revenue
$12,688
Total assets, end of year
$413,537
Total liabilities, end of year
$456,467
Net assets or fund balances, end of year
-$42,930
Program services expenses (Part IX)
$643
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$643

Program services were 100.0% 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: SBA LOAN INTEREST

    total $18,740 · related or exempt $18,740

  • 11a · Other revenue: LOAN LOSS RECOVERY

    total $12,688 · related or exempt $12,688

  • 11e · Other revenue, total

    $12,688

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $643 · program services $643

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $237,537 · end of year $256,264

  • 4 · Accounts receivable

    beginning of year $343,645 · end of year $157,273

  • 23 · Secured mortgages and notes payable

    beginning of year $512,352 · end of year $456,467

  • 27 · Net assets without donor restrictions

    beginning of year $68,830 · end of year -$42,930

Mission and programs · 2023

Mission

TO PROVIDE LOAN FINANCING AND SUPPORT TO SERVE THE NEEDS OF AND BENEFIT SMALL BUSINESS AND RESIDENTS IN THE STATE OF WASHINGTON.

Activities or mission (Part I)

BUSINESS IMPACT NW GROWS BUSINESSES THAT CREATE JOBS IN UNDERSERVED COMMUNITIES.

  • TO PROVIDE LOAN FINANCING AND SUPPORT TO SERVE THE NEEDS OF AND BENEFIT SMALL BUSINESS AND RESIDENTS IN THE STATE OF WASHINGTON.

    Expenses $643 · Revenue $31,428

As filed on the 2023 return.

Listed in Part VII

  • Joseph Sky-Tucker

    PRESIDENT/CEO

    Total calculated
    $174,630
    From this org
    $0
    From related orgs
    $165,333
    Other
    $9,297
    Hours/week
    0.25 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $149,333 related
    Bonus
    $0 + $16,000 related
    Other
    $0
    Deferred
    $0 + $1,437 related
    Nontaxable benefits
    $0 + $7,860 related
    Filer's total
    $0 + $174,630 related

  • John Zmolek

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    0.25 + 1 related

  • Kellen Ball

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25 + 1 related

  • Paul Kirkbride

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    0.25 + 1 related

  • Lorri Wallace

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Jessica Enzi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 1 related

  • Peter Ha

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Robert Luettjohann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Sean O'Mealia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Megan Snyder

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Kurt Heath

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Munzer Sukhun

    DIRECTOR (THRU 3/23)

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Kd Hall

    DIRECTOR (THRU 9/23)

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Tom Berquist

    DIRECTOR (THRU 11/23)

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

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

None.

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
SALARY DECISIONS FOR THE CEO ARE MADE BY THE FULL BOARD EXCLUDING ANYONE WITH A CONFLICT OF INTEREST. COMPARABLE DATA USED IS A SALARY SURVEY AND COMPARED TO TRADE ORGANIZATIONS AND SIMILAR ORGANIZATIONS FROM GUIDESTAR. THE COMPENSATION IS REVIEWED ANNUALLY, THE LAST REVIEW WAS MARCH 2023. THE MEETINGS ARE DOCUMENTED AND KEPT FOR RECORDKEEPING.

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
3 September 2024
IRS schema version
2023v5.1
Source object
202402609349302510

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