Small Business Assistance Corp
- Assets
- $18.0m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 19
- Location
- Savannah, GA
- Founding
- 06/2012
- Data as of
- 09/2022
- EIN
- 58-1526202
Organization Overview
Small Business Assistance Corp is located in Savannah, GA. The organization was established in 2012. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, Small Business Assistance Corp employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Small Business Assistance Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Small Business Assistance Corp generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $1.5m during the year ending 09/2022. While expenses have increased by 7.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EXEMPT PURPOSE IS TO FOSTER ECONOMIC DEVELOPMENT IN SAVANNAH, GEORGIA AND THE SURROUNDING REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SMALL BUSINESS ASSISTANCE CORPORATION IS A SPECIALIZED, NONPROFIT BUSINESS DEVELOPMENT ORGANIZATION LICENSED BY THE U.S. SMALL BUSINESS ADMINISTRATION AND CONTRACTED BY THE CITY OF SAVANNAH TO PROMOTE SMALL BUSINESS DEVELOPMENT. OUR PROGRAM ADDRESSES: ACCESS TO CAPITAL, ACCESS TO MANAGEMENT ASSISTANCE, AND BUSINESS OPPORTUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hugh Anthony O'reilly Executive Di | OfficerTrustee | 5 | $117,871 |
Carol Brooks Vice Chair | OfficerTrustee | 5 | $0 |
Lynn Vos Loan Committ | OfficerTrustee | 5 | $0 |
Kate Rott Assistant Se | OfficerTrustee | 5 | $0 |
T Brett Goodwin Secretary | OfficerTrustee | 5 | $0 |
Brendan Ferrara Chairman | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $692,886 |
| All other contributions, gifts, grants, and similar amounts not included above | $179,350 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $872,236 |
| Total Program Service Revenue | $404,573 |
| Investment income | $247,402 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,095 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,539,306 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $111,910 |
| Compensation of current officers, directors, key employees. | $26,858 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $704,403 |
| Pension plan accruals and contributions | $55,792 |
| Other employee benefits | $100,739 |
| Payroll taxes | $65,344 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,147 |
| Fees for services: Accounting | $28,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,879 |
| Advertising and promotion | $35,833 |
| Office expenses | $45,800 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,129 |
| Travel | $5,026 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $51,215 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,928 |
| Insurance | $2,973 |
| All other expenses | $50,867 |
| Total functional expenses | $1,547,288 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,841,996 |
| Savings and temporary cash investments | $7,851,131 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $175,677 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,258,974 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $255,357 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,587,296 |
| Total assets | $17,970,431 |
| Accounts payable and accrued expenses | $31,500 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,780,542 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,474,727 |
| Total liabilities | $6,286,769 |
| Net assets without donor restrictions | $10,302,370 |
| Net assets with donor restrictions | $1,381,292 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,970,431 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Small Business Assistance Corp has recieved totaling $22.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $22 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Bay Park Conservancy Inc Sarasota, FL | $16,645,209 | $18,178,827 |
Florida Opportunity Fund Inc Orlando, FL | $119,810,322 | $8,334,220 |
Carter Street Corporation Chattanooga, TN | $16,714,346 | $6,596,539 |
Charlotte Center City Partners Charlotte, NC | $3,090,178 | $6,164,890 |
Catawba Regional Council Of Governments Rock Hill, SC | $18,118,741 | $10,188,786 |
Florida Community Loan Fund Orlando, FL | $108,210,727 | $7,672,092 |
Bac Funding Corporation Miami, FL | $17,927,247 | $4,831,785 |
Community And Economic Development Quincy, FL | $11,268,446 | $5,882,256 |
Enterprise Center Inc Chattanooga, TN | $3,677,488 | $5,998,300 |
Broward County Community Development Corporation Inc Fort Lauderdale, FL | $8,205,586 | $4,659,433 |
Miami Beach Community Development Corporation Inc Miami Beach, FL | $28,003,490 | $2,129,125 |
Neighbors And Neighbors Association Inc Miami, FL | $2,936,211 | $3,300,045 |