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Nonprofiteer
← EDC LOAN CORPORATION

Form 990 for tax year 2024

Filed by EDC LOAN CORPORATION.

Totals

Total revenue
$304,837
Total expenses
$786,117
Contributions and grants received
$165,216
Grants paid
$200,000
Program service revenue
$138,745
Investment income
$876
Other revenue
$0
Total assets, end of year
$4,285,277
Total liabilities, end of year
$1,310
Net assets or fund balances, end of year
$4,283,967
Program services expenses (Part IX)
$682,788
Management and general expenses
$103,329
Fundraising expenses
$0
Program service expenses (Part III)
$682,788

Program services were 86.9% 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.

  • 1f · All other contributions, gifts and grants

    $165,216

  • 2a · Program service revenue: LOAN INTEREST

    total $96,325 · related or exempt $96,325

  • 2b · Program service revenue: LOAN SERVICING FEE

    total $42,420 · related or exempt $42,420

  • 3 · Investment income

    total $876 · excluded $876

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $200,000 · program services $200,000

  • 11b · Fees: legal

    total $13,090 · management and general $13,090

  • 11c · Fees: accounting

    total $35,509 · management and general $35,509

  • 14 · Information technology

    total $2,308 · management and general $2,308

  • 23 · Insurance

    total $7,626 · management and general $7,626

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $372,519 · program services $372,519

  • 24b · Other expenses: GRANT EXPENSE

    total $110,269 · program services $110,269

  • 24c · Other expenses: SERVICE FEE - EDC

    total $42,420 · management and general $42,420

  • 24d · Other expenses: MISCELLANEOUS

    total $2,376 · management and general $2,376

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,229,950 · end of year $1,322,522

  • 9 · Prepaid expenses and deferred charges

    end of year $13,522

  • 13 · Investments: program-related

    beginning of year $3,637,321 · end of year $2,848,786

  • 15 · Other assets

    beginning of year $33,858 · end of year $100,447

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $1,310

  • 25 · Other liabilities

    beginning of year $135,882 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $4,765,247 · end of year $4,283,967

Mission and programs · 2024

Mission

PROVIDE LOANS TO QUALIFIED BUSINESSES IN THE CORPORATION'S TARGETED AREA.

Activities or mission (Part I)

PROVIDE LOANS TO QUALIFIED BUSINESSES IN THE CORPORATION'S TARGETED AREA AND THE URBAN CORE.

  • PARTICIPATION WITH LOCAL LENDING INSTITUTIONS TO PROVIDE LOANS TO QUALIFIED BUSINESSES IN THE CORPORATION'S TARGETED AREA. PARTICIPATION IN THE SMALL BUSINESS ADMINISTRATION'S SECTION 504 LOAN PROGRAM AS A CERTIFIED DEVELOPMENT CORPORATION.

    Expenses $682,788 · Grants $200,000 · Revenue $138,745

As filed on the 2024 return.

Listed in Part VII

  • Mario Vasquez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Nia Webster

    INTERIM BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Heather Watts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Choi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Hogg

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Madison Kunkel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jack Steadman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Victor Hammonds

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tracey Lewis

    CDC MANAGER

    Total calculated
    $299,775
    From this org
    $0
    From related orgs
    $247,500
    Other
    $52,275
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $225,000 related
    Bonus
    $0 + $22,500 related
    Other
    $0
    Deferred
    $0 + $22,977 related
    Nontaxable benefits
    $0 + $29,298 related
    Filer's total
    $0 + $299,775 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)

SCH J, PART II & FORM 990, PART VII
THE COMPENSATION REPORTED ON SCHEDULE J, PART II IS COMPENSATION PAID BY A RELATED ORGANIZATION, ECONOMIC DEVELOPMENT CORPORATION OF KANSAS CITY, MISSOURI.

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

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
2024
Filed
12 March 2026
IRS schema version
2024v5.5
Source object
202630759349300948

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