California Coastal Rural Development Corporation
- Assets
- $15.9m
- Revenue
- $5.5m
- Investments
- $40.6k
- Employees
- 16
- Location
- Salinas, CA
- Founding
- 11/1982
- Data as of
- 06/2022
- EIN
- 94-0276025
Organization Overview
California Coastal Rural Development Corporation is located in Salinas, CA. The organization was established in 1982. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, California Coastal Rural Development Corporation employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. California Coastal Rural Development Corporation 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 06/2022, California Coastal Rural Development Corporation generated $5.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $3.2m during the year ending 06/2022. 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
CALIFORNIA COASTAL RURAL DEVELOPMENT CORPORATION IS DEDICATED TO PROVIDING FINANCING TO SMALL FARMERS AND BUSINESSES THROUGHOUT CALIFORNIA. OUR MISSION IS TO ASSIST THESE ENTERPRISES TO GROW, THRIVE AND PROSPER ENABLING THE OVERALL ECONOMIC DEVELOPMENT OF OUR UNDERSERVED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOAN GUARANTEE PROGRAM-PROVIDES LOAN GUARANTEES TO ENCOURAGE LENDERS TO MAKE LOANS TO MARGINAL CREDIT BUSINESSES AND FARMERS
DIRECT LOAN PROGRAM-MAKE DIRECT LOANS TO SMALL FARM OPERATORS UTILIZING USDA FARM SERVICES AGENCY LOAN GUARANTEES.
INTERMEDIATE RELENDING PROGRAM-PROVIDES RELENDING TO SMALL BUSINESSES THAT MANUFACTURE OR PROVIDE SERVICES IN SMALL CITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Takikawa President | OfficerTrustee | 40 | $185,021 |
David Dickinson Chief Lender Officer | 40 | $108,776 | |
Fred Madison Controller | 40 | $105,692 | |
Cindy Merzon Sbdc Director | 40 | $104,888 | |
Roy Robbins Chairman & CFO | OfficerTrustee | 10 | $2,500 |
Louie Valenzuela Member | Trustee | 2.5 | $1,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $255,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,594,575 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,849,825 |
| Total Program Service Revenue | $2,684,226 |
| Investment income | $0 |
| 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 | $5,534,051 |
| 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. | $215,288 |
| Compensation of current officers, directors, key employees. | $215,288 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,124,222 |
| Pension plan accruals and contributions | $77,989 |
| Other employee benefits | $280,193 |
| Payroll taxes | $101,869 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,392 |
| Fees for services: Accounting | $44,118 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $197,157 |
| Advertising and promotion | $2,916 |
| Office expenses | $39,096 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $228,355 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,892 |
| Interest | $580,064 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,889 |
| Insurance | $0 |
| All other expenses | $19 |
| Total functional expenses | $3,186,047 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,643,858 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $107,504 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,937,607 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $40,595 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $151,205 |
| Total assets | $15,880,769 |
| Accounts payable and accrued expenses | $338,837 |
| Grants payable | $0 |
| Deferred revenue | $27,265 |
| 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 | $7,789,069 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $241,575 |
| Total liabilities | $8,396,746 |
| Net assets without donor restrictions | $6,948,023 |
| Net assets with donor restrictions | $536,000 |
| 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 | $15,880,769 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $19,191,750 | $16,242,591 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
Maui Economic Development Board Inc Medb Kihei, HI | $10,649,362 | $7,742,311 |
Greater Phoenix Economic Council Phoenix, AZ | $6,926,984 | $7,545,492 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |
Providence Foundation Of San Francisco San Francisco, CA | $2,572,916 | $7,012,697 |
La Cocina Inc San Francisco, CA | $10,601,250 | $8,307,558 |
Cplc Nevada Inc Phoenix, AZ | $8,204,824 | $6,300,794 |