Coastal Business Finance
- Assets
- $452.2k
- Revenue
- $390.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Santa Maria, CA
- Founding
- 03/1981
- Data as of
- 09/2022
- EIN
- 95-3558666
Organization Overview
Coastal Business Finance is located in Santa Maria, CA. The organization was established in 1981. According to its NTEE Classification (C99) the organization is classified as: Environment N.E.C., under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coastal Business Finance is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 09/2022, Coastal Business Finance generated $390.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $423.6k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 7 years. 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
FOUNDED IN 1982, COASTAL BUSINESS FINANCE IS A CALIFORNIA NONPROFIT CORPORATION, LICENSED AND CERTIFIED BY THE U.S. SMALL BUSINESS ADMINISTRATION (SBA) TO PROVIDE CALIFORNIA BUSINESSES WITH LOW-COST, LONG-TERM FINANCING. COASTAL BUSINESS FINANCE IS CHARTERED BY THE FEDERAL GOVERNMENT AS A CERTIFIED DEVELOPMENT CORPORATION (CDC), AND BY THE SBA AS AN ACCREDITED LENDING PROVIDER (ALP).
Describe the Organization's Program Activity:
Part 3 - Line 4a
504 LOAN PROGRAM-ASSISTS SMALL BUSINESSES IN OBTAINING SBA 504 LOANS. SBA 504 LOANS ARE A PARTNERSHIP BETWEEN A CDC AND A BANK, OR NON-BANK LENDER, TO PROVIDE UP TO 90% FINANCING FOR THE PURCHASE OF COMMERCIAL PROPERTY, NEW CONSTRUCTION, BUILDING EXPANSION AND REMODELING, MACHINERY AND EQUIPMENT WITH LONG USEFUL LIVES, AND THE ASSOCIATED SOFT COSTS OF CONSTRUCTION AND RENOVATION, AT FIXED, BELOW-MARKET INTEREST RATES, WITH TEN OR TWENTY YEAR REPAYMENT TERMS, TO MAXIMIZE WORKING CAPITAL.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Kearns Executive Direc | Officer | 40 | $112,500 |
Gary Williams Treasurer | OfficerTrustee | 3 | $0 |
Mike Sell President | OfficerTrustee | 3 | $0 |
Karen Nuno Secretary | OfficerTrustee | 3 | $0 |
Peter Sterling Vice President | OfficerTrustee | 3 | $0 |
Ed Andrisek Director | Trustee | 1 | $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 | $359,383 |
| Investment income | $30,158 |
| 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 | $390,043 |
| 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. | $112,500 |
| Compensation of current officers, directors, key employees. | $22,500 |
| 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 | $27,725 |
| Fees for services: Accounting | $7,520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,713 |
| Advertising and promotion | $1,174 |
| Office expenses | $2,066 |
| Information technology | $4,860 |
| Royalties | $0 |
| Occupancy | $26,851 |
| Travel | $2,396 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $612 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,222 |
| All other expenses | $7,947 |
| Total functional expenses | $423,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $423,670 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,496 |
| 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 | $8,080 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $452,246 |
| Accounts payable and accrued expenses | $19,054 |
| 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 | $0 |
| Total liabilities | $19,054 |
| Net assets without donor restrictions | $433,192 |
| 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 | $452,246 |
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