Preferred Lending Partners
- Assets
- $1.4m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 7
- Location
- Denver, CO
- Founding
- 10/1985
- Data as of
- 09/2022
- EIN
- 74-2363487
Organization Overview
Preferred Lending Partners is located in Denver, CO. The organization was established in 1985. 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, Preferred Lending Partners employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preferred Lending Partners 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, Preferred Lending Partners generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $1.5m during the year ending 09/2022. While expenses have increased by 8.8% 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
PREFERRED LENDING PARTNERS WAS ORGANIZED FOR THE PURPOSE OF FURTHERING ECONOMIC DEVELOPMENT FOR THE STATE OF COLORADO BY PROMOTING AND ASSISTING THE GROWTH AND DEVELOPMENT OF NEW AND EXISTING BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PREFERRED LENDING PARTNER'S LENDING PROGRAM HAS ASSISTED QUALIFIED BUSINESSES THROUGHOUT COLORADO WITH OBTAINING SMALL BUSINESS ADMINISTRATION LOANS BY WORKING WITH FINANCIAL INSTITUTIONS AND OTHER THIRD PARTY LENDERS TO SECURE LONG-TERM CAPITAL FOR BUSINESS EXPANSION AND ACQUISITION OF CAPITAL ASSETS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian P Devlin Executive Di | OfficerTrustee | 40 | $360,761 |
Megan Jewell Dir Oper/mar | 40 | $134,240 | |
Juliene Wynn Dir Of Lendi | 40 | $127,583 | |
Laura L Farley Chief Of Cre | 40 | $103,446 | |
Steve Fajardo Secretary/tr | OfficerTrustee | 2 | $0 |
Sam Stookey President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,341,473 |
| Investment income | $735 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,342,208 |
| 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. | $338,040 |
| Compensation of current officers, directors, key employees. | $31,235 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $812,991 |
| Pension plan accruals and contributions | $20,922 |
| Other employee benefits | $35,768 |
| Payroll taxes | $59,961 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,208 |
| Fees for services: Accounting | $19,349 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,363 |
| Office expenses | $24,611 |
| Information technology | $32,066 |
| Royalties | $0 |
| Occupancy | $97,236 |
| Travel | $13,612 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,165 |
| Insurance | $29,015 |
| All other expenses | $0 |
| Total functional expenses | $1,532,927 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $153,209 |
| Savings and temporary cash investments | $1,100,311 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $86,077 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,035 |
| Net Land, buildings, and equipment | $2,316 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,354,948 |
| Accounts payable and accrued expenses | $275,095 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $60,659 |
| Total liabilities | $335,754 |
| Net assets without donor restrictions | $1,019,194 |
| Net assets with donor restrictions | $0 |
| 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 | $1,354,948 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Colorado Enterprise Fund Inc Denver, CO | $82,518,626 | $21,255,608 |
Rocky Mountain Community Reinvestment Corporation Salt Lake City, UT | $241,166,960 | $12,007,635 |
Local First Arizona Foundation Phoenix, AZ | $3,232,104 | $5,988,087 |
Business Development Finance Corporation Tucson, AZ | $22,193,625 | $4,107,444 |
Phoenix Community Development And Investment Corporation Phoenix, AZ | $40,907,790 | $6,695,939 |
Metafund Corporation Edmond, OK | $30,699,805 | $2,775,325 |
Sfs Development Inc Oklahoma City, OK | $22,888,253 | $6,807,080 |
Enterprise Center Of Johnson County Overland Park, KS | $1,026,412 | $1,656,304 |
Preferred Lending Partners Denver, CO | $1,354,948 | $1,342,208 |
Belay Enterprises Inc Aurora, CO | $3,858,910 | $1,974,052 |
West Community Economic Development Corporation Denver, CO | $2,372,449 | $847,271 |
Duncan Area Economic Development Foundation Duncan, OK | $17,794,309 | $1,169,335 |