2023-11-03T10:22:32-05:00 2022-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2022-01-01 911764008 SEATTLE ECONOMIC DEVELOPMENT FUND BUSINESS IMPACT NW SEAT 2063244330 12720 GATEWAY DR S 207 TUKWILA WA 98144 JOE SKY-TUCKER PRESIDENT/CEO 2063244330 2023-11-03 1 JOE SKY-TUCKER 999009999 0 EMINA O CRESSWELL CPA P01217304 5097472600 2023-11-03 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOE SKY-TUCKER 12720 GATEWAY DR S 207 TUKWILA WA 98144 9870568 0 X WWW.BUSINESSIMPACTNW.ORG X 1997 WA BUSINESS IMPACT NW GROWS BUSINESS THAT CREATE JOBS IN UNDERSERVED COMMUNITIES. 9 9 71 70 0 0 4893545 5295239 2574525 1745672 400000 2541222 116873 37353 7984943 9619486 0 0 0 0 2682159 3906722 0 0 215847 1092680 2796275 3774839 6702997 4210104 2916489 28288075 28030464 20348320 17139372 7939755 10891092 TO PROVIDE ECONOMIC DEVELOPMENT FINANCING TO SERVE THE NEEDS OF SMALL BUSINESSES IN THE STATE OF WASHINGTON THAT WOULD NOT QUALIFY FOR PRIVATE FINANCING UNDER CONVENTIONAL FINANCING CRITERIA. 0 0 4867240 1751584 LOAN FUND ADMINISTRATION AS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) TO PROVIDE FINANCING AND MANAGEMENT ASSISTANCE PRIMARILY TO TARGETED BUSINESSES THAT WOULD OTHERWISE NOT BE ABLE TO RECEIVE FINANCING UNDER CONVENTIONAL METHODS. 4867240 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 697 0 1 71 1 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X JOE SKY-TUCKER 2063244330 1270 GATEWAY DR S TUKWILA WA 98168 SKY-TUCKER JOE PRESIDENT/CEO 40.00 1.00 X 119773 0 17471 ZMOLEK JOHN BOARD CHAIR 1.00 1.00 X X 0 0 0 ENZI JESSICA BOARD VICE CHAIR 1.00 1.00 X X 0 0 0 BALL KELLEN SECRETARY/TREASURER 1.00 1.00 X X 0 0 0 BERQUIST TOM DIRECTOR 0.50 0.50 X 0 0 0 HA PETER DIRECTOR 0.50 0.50 X 0 0 0 HALL KD DIRECTOR 0.50 0.50 X 0 0 0 KIRKBRIDE PAUL DIRECTOR 0.50 0.50 X 0 0 0 SUKHUN MUNZER DIRECTOR 0.50 0.50 X 0 0 0 WALLACE LORRI DIRECTOR 0.50 0.50 X 0 0 0 WATSON HEYWARD DIRECTOR (THRU 2/22) 0.50 0.50 X 0 0 0 HARJANI MARCUS DIRECTOR (THRU 9/22) 0.50 0.50 X 0 0 0 119773 0 17471 1 0 0 0 0 2892696 2402543 10818 5295239 LOAN INTEREST 525990 1153582 1153582 LOAN FEES AND CHARGES 525990 551152 551152 TRAINING FEES 611420 40938 40938 1745672 29977 29977 31441 0 31441 31441 31441 2762327 251082 2511245 2511245 2511245 MISCELLANEOUS 523000 5912 5912 5912 9619486 1751584 0 2572663 137244 95934 34970 6340 3087011 2157830 786573 142608 351663 243088 95444 13131 330804 231385 84160 15259 37104 37104 78961 78961 590900 382000 201258 7642 114076 89816 291 23969 43788 42848 740 200 440889 293415 143080 4394 99510 69556 29954 119669 113513 4790 1366 271742 271742 32008 32008 13612 13612 PROVISION FOR LOAN LOSS 739634 739634 B&O TAXES 46423 46423 DUES AND MEMBERSHIPS 45620 30360 14805 455 LENDING COSTS 44030 44030 78309 62089 15737 483 6702997 4867240 1619910 215847 6848100 2681978 3093980 4640108 0 865555 631667 14612 16256984 18486080 12799 18524 99531 85000 979432 14531 465113 1309076 28288075 28030464 320581 108399 19251521 16903623 776218 127350 20348320 17139372 X 5193218 10241925 2746537 649167 7939755 10891092 28288075 28030464 X 2916489 34848 X 0 1 X 1 1 1 X 1127656 1454304 3972596 4893545 5295239 16743340 1127656 1454304 3972596 4893545 5295239 16743340 893745 15849595 78600 80070 79970 63953 61418 364011 28916 26552 41719 52920 5912 156019 17263370 6956719 0.91810 0.95840 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2018 AMOUNT: $ 28,916. 2019 AMOUNT: $ 26,552. 2020 AMOUNT: $ 41,719. 2021 AMOUNT: $ 52,920. 2022 AMOUNT: $ 5,912. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 99531 85000 14531 14531 INTEREST PAYABLE 66419 UNEARNED REVENUE 16926 PASS-THROUGH LOAN FEES 44005 127350 X PART X, LINE 2: BIN IS A NONPROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). HOWEVER, BIN REMAINS SUBJECT TO INCOME TAXES ON ANY NET INCOME THAT IS DERIVED FROM A TRADE OR BUSINESS, REGULARLY CARRIED ON AND NOT IN FURTHERANCE OF THE PURPOSE FOR WHICH IT WAS GRANTED EXEMPTION. NO INCOME TAX PROVISION HAS BEEN RECORDED AS THE NET INCOME, IF ANY, FROM ANY UNRELATED TRADE OR BUSINESS, IN THE OPINION OF MANAGEMENT, IS NOT MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS TAKEN AS A WHOLE. FORM 990, PART I, LINE 6 THE WOMEN'S BUSINESS CENTER HAS AN ADVISORY COMMITTEE THAT HELPS WITH FUNDRAISING AND SETTING THE STRATEGIC DIRECTION OF THE CENTER. THE ORGANIZATION HAS A VOLUNTEER BOARD OF DIRECTORS THAT PROVIDE STRATEGIC OVERSIGHT OF THE ORGANIZATION. WE ALSO HAVE VOLUNTEERS HELP US WITH OUR EVENTS, TRAININGS, AND OPERATIONS. FORM 990, PART VI, SECTION A, LINE 7B GOVERNANCE IS HANDLED BY THE BOARD OF DIRECTORS AS THEIR PURVIEW IS TO ENSURE THE ORGANIZATION IS FINANCIALLY SOLVENT. MANAGEMENT MAKES ALL OPERATIONAL DECISIONS IN ORDER TO ENSURE THE ORGANIZATION RUNS EFFICIENTLY AND TO THE STRATEGIC GOALS SET FORTH BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CEO BEFORE IT IS FILED WITH THE IRS; ALL BOARD MEMEBERS ARE GIVEN A COPY BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CEO AND EXECUTIVE COMMITTEE OF THE BOARD MONITOR CONFLICTS OF INTEREST FOR BOARD MEMBERS ON AN AT LEAST ANNUAL BASIS AND MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES SOLUTIONS TO PROPOSED TRANSACTIONS OR ARRANGEMENTS. BOARD MEMBERS HAVE A DUTY TO DISCLOSE A CONFLICT OF INTEREST TO BOARD OF DIRECTORS AND MEMBERS OF COMMITTEES. THE DISCLOSURE OF CONFLICT IS THEN REVIEWED BY THE FULL BOARD AND VOTED UPON TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETINGS BUT WILL BE EXCUSED FROM THE MEETING AFTERWARDS AND ABSTAIN FROM VOTING. THE BOARD MINUTES DOCUMENT WHETHER A CONFLICT OF INTEREST EXISTS ALONG WITH ACTIONS STEPS. THE ORGANIZATION ALSO MONITORS VIOLATIONS OF THE CONFLICT OF INTEREST POLICY AND HAS PROCEDURES IN PLACE IF SUCH AN EVENT HAPPENS. FORM 990, PART VI, SECTION B, LINE 15A SALARY DECISIONS FOR THE CEO ARE MADE BY THE FULL BOARD EXCLUDING ANYONE WITH A CONFLICT OF INTEREST. COMPARABLE DATA USED IS A SALARY SURVEY AND COMPARED TO TRADE ORGANIZATIONS AND SIMILAR ORGANIZATIONS FROM GUIDESTAR. THESE MEETINGS ARE DOCUMENTED AND KEPT FOR RECORDKEEPING. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN NET ASSETS 34,848. BIN SBA LOAN 12720 GATEWAY DR S SUITE 270 TUKWILA WA 98166 814001005 LOAN SERVICES WA 501(C)(3) LINE 10 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0