Sonoma County Economic Development Board Foundation
- Assets
- $2.0m
- Revenue
- $593.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Santa Rosa, CA
- Founding
- 01/2002
- Data as of
- 06/2021
- EIN
- 94-3397043
Organization Overview
Sonoma County Economic Development Board Foundation is located in Santa Rosa, CA. The organization was established in 2002. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sonoma County Economic Development Board Foundation 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 06/2021, Sonoma County Economic Development Board Foundation generated $593.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $553.3k during the year ending 06/2021. While expenses have increased by 10.8% 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.
Since 2018, Sonoma County Economic Development Board Foundation has awarded 13 individual grants totaling $389,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT SONOMA COUNTY'S ECONOMIC DEVELOPMENT BOARD PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREATIVE SONOMA - THE CREATIVE SONOMA PROGRAM PROVIDED $70,500 IN GRANTS TO THE CREATIVE COMMUNITY WHO SUFFERED PHYSICAL LOSSES DUE TO THE GLASS FIRE AND LNU COMPLEX FIRES, AS WELL AS FUNDING TO PROVIDE RELIEF TO ARTS ORGANIZATIONS AFFECTED BY THE PANDEMIC AND ITS ACCOMPANYING STATE AND LOCAL SAFETY PROTOCOLS. IN ADDITION, CREATIVE SONOMA IS WORKING WITH SEVERAL ENTITIES TO DRAFT A NEW CREATIVE SONOMA BUSINESS PLAN, ACTION PLAN AND COVID-19 IMPACT REPORT BASED ON FEEDBACK FROM THE CREATIVE COMMUNITY. THESE ACTIVITIES WERE FULLY OR PARTIALLY COVERED THROUGH GRANTS RECEIVED BY THE FOUNDATION, WHICH FUNDED PROGRAM EXPENSES AS WELL AS STAFF COSTS
EMERGENCY RELIEF FUNDS - IN COLLABORATION WITH TIPPING POINT COMMUNITY, $200,000 WAS PROVIDED AS MATCHING FUNDS TO A FEDERAL GRANT, AIMED AT PROVIDING LOANS TO SMALL BUSINESS OWNERS IN UNDERSERVED COMMUNITIES IN SONOMA COUNTY IMPACTED BY THE FIRES WHO DO NOT QUALIFY FOR TRADITIONAL FINANCING. THE OVERALL GOAL WAS TO RETAIN AND CREATE JOBS. THE LOAN PROGRAM WAS ADMINISTERED BY ECONOMIC DEVELOPMENT AND FINANCING CORPORATION, A NOT FOR PROFIT FINANCIAL AGENCY.
RESEARCH INITIATIVES - THIS PROGRAM FUNDED BUSINESS DEVELOPMENT TOOLS TO HELP LOCAL BUSINESSES RECOGNIZE CURRENT INDUSTRY TRENDS, FIND NEW TARGET MARKETS AND CUSTOMER BASES, AND RESEARCH SITE SELECTION DATA. SPONSOR-SUPPORTED FUNDING ALLOWS THESE REPORTS TO BE OFFERED FREE OF CHARGE TO LOCAL BUSINESSES. IN ADDITION, THE PROGRAM FUNDED STAFF COSTS TO RESEARCH AND IDENTIFY STRATEGIC OPPORTUNITIES AND BARRIERS THAT INDUSTRIES ARE FACING IN SONOMA COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
K Hecht Chair | OfficerTrustee | 1 | $0 |
L Kachiu Treasurer | OfficerTrustee | 1 | $0 |
W Leach Vice Chair | OfficerTrustee | 1 | $0 |
S Person-Whitley Ed/secretary | OfficerTrustee | 1 | $0 |
W Brand Member | Trustee | 1 | $0 |
J Kivelstadt Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $559,933 |
| Investment income | $2,395 |
| 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 | $593,403 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,081 |
| Fees for services: Accounting | $13,070 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $147,486 |
| Advertising and promotion | $3,682 |
| Office expenses | $24,075 |
| Information technology | $7,448 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $350 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $553,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $450,341 |
| Savings and temporary cash investments | $1,508,262 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,800 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,962,403 |
| Accounts payable and accrued expenses | $5,677 |
| Grants payable | $0 |
| Deferred revenue | $24,100 |
| 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 | $0 |
| Total liabilities | $29,777 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,932,626 |
Grants Awarded
Over the last fiscal year, Sonoma County Economic Development Board Foundation has awarded $269,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Ukiah, CA PURPOSE: loans to small business owners | $200,000 |
Santa Rosa, CA PURPOSE: support creative agencies | $39,000 |
COUNTY OF SONOMA - PURPOSE: support creative agencies | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Sonoma County Economic Development Board Foundation has recieved totaling $355,000.
| Awarding Organization | Amount |
|---|---|
William & Flora Hewlett Foundation Menlo Park, CA PURPOSE: FOR CREATIVE SONOMA'S ORGANIZATIONAL ADAPTATION | $345,000 |
Luther Burbank Corporation Foundation Santa Rosa, CA PURPOSE: Expansion of business/jobs | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Diego Convention And Tourist Bureau San Diego, CA | $10,248,135 | $28,266,235 |
Cdc Small Business Finance Corp San Diego, CA | $123,395,668 | $31,738,512 |
Mission Economic Development Agency San Francisco, CA | $193,556,070 | $20,206,962 |
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 |