Form 990 for tax year 2022
Filed by ECONOMIC DEVELOPMENT COLLABORATIVE VENTURA COUNTY.
Totals
- Total revenue
- $3,851,536
- Total expenses
- $3,999,745
- Contributions and grants received
- $1,284,002
- Grants paid
- $0
- Program service revenue
- $2,342,350
- Investment income
- $5,596
- Other revenue
- $219,588
- Total assets, end of year
- $13,661,843
- Total liabilities, end of year
- $9,808,780
- Net assets or fund balances, end of year
- $3,853,063
- Program services expenses (Part IX)
- $3,716,677
- Management and general expenses
- $283,068
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,716,677
Program services were 92.9% 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)
$1,151,502
-
1f · All other contributions, gifts and grants
$132,500
-
2a · Program service revenue: Other Program Revenue
total $179,273 · excluded $179,273
-
2b · Program service revenue: Program Revenue
total $2,163,077 · excluded $2,163,077
-
3 · Investment income
total $5,596 · related or exempt $5,596
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $22,718
-
6c · Rental income or loss
real property $22,718
-
6d · Net rental income or loss
total $22,718 · related or exempt $22,718
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Loan Recoveries
total $3,670 · related or exempt $3,670
-
11b · Other revenue: Local Gov't Board Dues
total $79,200 · related or exempt $79,200
-
11c · Other revenue: Local Private Board Dues
total $114,000 · related or exempt $114,000
-
11e · Other revenue, total
$196,870
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $642,739 · program services $599,330 · management and general $43,409
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $888,675 · program services $828,657 · management and general $60,018
-
8 · Pension plan contributions
total $36,591 · program services $33,286 · management and general $3,305
-
9 · Other employee benefits
total $136,404 · program services $124,085 · management and general $12,319
-
10 · Payroll taxes
total $118,851 · program services $108,117 · management and general $10,734
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $21,521 · management and general $21,521
-
11c · Fees: accounting
total $39,501 · program services $37,528 · management and general $1,973
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $1,552,117 · program services $1,537,243 · management and general $14,874
-
12 · Advertising and promotion
total $18,504 · program services $15,979 · management and general $2,525
-
13 · Office expenses
total $80,000 · program services $70,371 · management and general $9,629
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $133,819 · program services $123,387 · management and general $10,432
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $33,002 · program services $33,002
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $4,380 · management and general $4,380
-
23 · Insurance
total $20,516 · program services $16,672 · management and general $3,844
-
24a · Other expenses: COMMUNITY OUTREACH
total $72,051 · program services $42,080 · management and general $29,971
-
24b · Other expenses: TRAVEL, MEALS & TRAINING
total $60,734 · program services $47,175 · management and general $13,559
-
24c · Other expenses: TELEPHONE & FAX
total $46,292 · program services $40,999 · management and general $5,293
-
24d · Other expenses: PROFESSIONAL DEVELOPMENT
total $28,018 · program services $27,893 · management and general $125
-
24e · All other expenses
total $66,030 · program services $30,873 · management and general $35,157
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,603,939 · end of year $7,903,840
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
beginning of year $685,372 · end of year $1,425,091
-
4 · Accounts receivable
beginning of year $291,982 · end of year $69,817
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $2,292,561 · end of year $3,688,319
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $25,470 · end of year $58,273
-
10a · Land, buildings and equipment: cost or other basis
$24,101
-
10b · Land, buildings and equipment: accumulated depreciation
$11,200
-
10c · Land, buildings and equipment, net
beginning of year $6,389 · end of year $12,901
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $50,472 · end of year $503,602
-
17 · Accounts payable and accrued expenses
beginning of year $219,473 · end of year $241,424
-
19 · Deferred revenue
beginning of year $128,038 · end of year $201,738
-
23 · Secured mortgages and notes payable
beginning of year $2,652,403 · end of year $4,726,666
-
25 · Other liabilities
beginning of year $49,299 · end of year $4,638,952
-
27 · Net assets without donor restrictions
beginning of year $3,407,612 · end of year $3,353,703
-
28 · Net assets with donor restrictions
beginning of year $499,360 · end of year $499,360
Mission and programs · 2022
Mission
The EDC creates empowered business owners, connected community partners and informed civic leaders in the greater Ventura and Santa Barbara County region. Established in 1996, we are a 501(c)3 non-profit public/private partnership corporation, dedicated to growing the regions economy. Our vision is for stewarding a strong and healthy Ventura and Santa Barbara regional economy with a high quality of life and broadly shared opportunities.
Activities or mission (Part I)
To promote local economic development, administer financial and loan programs, provide assistance in the retention and development of local business, facilitate cluster development, provide technical assistance and training, operate a variety of programs to assist defense dependent industries, and serve as an administartive body for the dissemination of information pertaining to community economic development.
-
The Economic Development Collaborative-Ventura County (EDC-VC) is a public/private partnership that provides businesses with professional consulting, training and lending services to help business thrive and add jobs.WE are service drive, with activities organized around business retention and expansion, business attraction and the acceleration of entreprenuership. In 2020 our serives were shaped dramatically starting in March with the onset of the Pandemic. With the tremendous outpouring of federal assistance for economic stabilization, businesses needed an unprecedented level of guidance on navigating these new programs and access to capital. Beginning in March of 2020, EDC made a radical and timely pivot to address this extraordinary need, building upon our existing base of services by offering bilingual remote one-on-one consulting, implementing informational webinars and establishing a rapid response call team.During 2022 we continued to build on the program innovations we developed in 2020 and 2021, both to address the direct impacts of pandemic and to facilitate a broadly shared, equitable and sustainable economic recovery. For notable concentrations of activity:Our Small Business Development Center continued its statewide leadership, not only in volume of activity first among all 49 of Californias Small Business Centers for hours of direct business advising but especially in outcomes: first for facilitating capital access for Hispanic owned firms, second in capital accessed and third in start-ups and total positive economic impacts for women-owned firms.Our lending programs continued to excel in volume of loans and loan capital, with 58% of loans and 63% of loan capital distributed to minority and women-owned businesses since 2013.We secured designation from the California Office of Small Business Advocate as one of ten Inclusive Innovation Hubs, our purpose being to help women and minority technology entrepreneurs to overcome long-persistent barriers to access capital and technical assistance.We secured funding from the County of Ventura to participate with the Ventura County Office of Education, First 5 Ventura County and Child Development Resources, for improving resource deployment for child care providers, restoring and enhancing our regions capacity for caring for children and supporting women to return to work.We secured designation by the State of California as fiscal agent and co-convener for Uplift Central Coast, a $5 million, two-year six-county initiative to plan and implement an equitable and sustainable regional economic strategy.We launched the pilot training programs for our three-year, $5 million Digital Literacy program, reaching collaborative agreements for training design and delivery with the Ventura County Office of Education and Ventura County Adults Schools Consortium, with Womens Economic Ventures and with GBL Systems Corporation and CompTIA: Information Technology Certifications and Training.
Expenses $3,716,677
As filed on the 2022 return.
Listed in Part VII
-
Bruce StenslieBRUCE STENSLIE
President & CEO
- Total calculated
- $272,095
- From this org
- $230,510
- From related orgs
- $0
- Other
- $41,585
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $214,510
- Bonus
- $16,000
- Other
- not reported
- Deferred
- $5,400
- Nontaxable benefits
- $36,185
- Filer's total
- $272,095
-
Ray BowmanRAY BOWMAN
Director of Small Business Dev Cent
- Total calculated
- $180,449
- From this org
- $159,087
- From related orgs
- $0
- Other
- $21,362
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $156,587
- Bonus
- $2,500
- Other
- not reported
- Deferred
- $4,773
- Nontaxable benefits
- $16,589
- Filer's total
- $180,449
-
Marvin BoatengMARVIN BOATENG
Dir of Lending
- Total calculated
- $139,764
- From this org
- $132,793
- From related orgs
- $0
- Other
- $6,971
- Hours/week
- 40
-
Kelly NobleKELLY NOBLE
Office Manager
- Total calculated
- $133,283
- From this org
- $114,949
- From related orgs
- $0
- Other
- $18,334
- Hours/week
- 40
-
Carole DruliasCAROLE DRULIAS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kristin DecasKRISTIN DECAS
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Amy FonzoAMY FONZO
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Nan DrakeNAN DRAKE
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jeremy GoldbergJEREMY GOLDBERG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Harold S EdwardsHAROLD S EDWARDS
Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Henry DubroffHENRY DUBROFF
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
GERHARD APFELTHALER PhD
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Sarah McLellandSARAH MCLELLAND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Skyler DitchfieldSKYLER DITCHFIELD
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Chris MeissnerCHRIS MEISSNER
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Cynthia HerreraCYNTHIA HERRERA
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Kelly LongKELLY LONG
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Celina ZacariasCELINA ZACARIAS
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Mary JarvisMARY JARVIS
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Peter ZierhutPETER ZIERHUT
Secretary/Treas
- Total calculated
- $0
- Hours/week
- 2
-
Bob EnglerBOB ENGLER
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Sim Tang-ParadisSIM TANG-PARADIS
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Dan RevettoDAN REVETTO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Bob HuberBOB HUBER
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Barry WolfmanBARRY WOLFMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jey LaceyJEY LACEY
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Daniel GroffDANIEL GROFF
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Simone AlexSIMONE ALEX
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Suza FrancinaSUZA FRANCINA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Mike JohnsonMIKE JOHNSON
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Misty PerezMISTY PEREZ
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jim ScanlonJIM SCANLON
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Alex SchneiderALEX SCHNEIDER
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Trace StevensonTRACE STEVENSON
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Shawn MulchaySHAWN MULCHAY
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Dee Dee CavanaughDEE DEE CAVANAUGH
Vice Chair
- Total calculated
- $0
- Hours/week
- 2
-
Randall HernandezRANDALL HERNANDEZ
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Andy SobelANDY SOBEL
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Stephanie CaldwellSTEPHANIE CALDWELL
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Tracy PerezTRACY PEREZ
Board Member
- Total calculated
- $0
- Hours/week
- 1
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 · Written employment contract
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
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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 21 July 2023
- IRS schema version
- 2022v5.0
- Source object
- 202312029349300526
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