2024-09-26T15:16:29-05:00 2023-12-31 521711839 COUNCILOR BUCHANAN & MITCHELL PC 7910 WOODMONT AVE STE 500 BETHESDA MD 20814 990 2023-01-01 953512045 CDC SMALL BUSINESS FINANCE CORPORATION CDCS 7036472360 2448 HISTORIC DECATUR ROAD 200 SAN DIEGO CA 92106 NATALIE GUNN CHIEF FINANCIAL OFFICER 7036472360 2024-09-26 1 0 RICHARD E MORRIS P00190795 3019860600 2024-09-26 2023 2024-08-08 14:25:15Z NATALIE GUNN 2448 HISTORIC DECATUR ROAD 200 SAN DIEGO CA 92106 55178666 0 X WWW.CDCLOANS.COM X 1978 CA WE HELP BUILD INCLUSIVE AND EQUITABLE COMMUNITIES BY PROVIDING PEOPLE ACCESS TO THE CAPITAL AND OPPORTUNITIES THEY DESERVE. 18 16 192 0 109139 0 2034162 2654144 17942183 12517485 5541221 8582749 1348060 3852829 26865626 27607207 0 0 0 0 19887718 17824072 0 0 0 8321462 8719631 28209180 26543703 -1343554 1063504 92661741 118524945 28350474 53257770 64311267 65267175 X SEE SCHEDULE O 0 0 8663694 0 4439952 COMMUNITY LOAN PROGRAMS: CDC ORIGINATES, SERVICES, AND SELLS LOANS GUARANTEED BY THE SBA UNDER ITS COMMUNITY ADVANTAGE 7A PROGRAM. THESE LOANS ARE USED BY THE BORROWERS FOR A VARIETY OF PURPOSES AND ARE CAPPED AT $350,000 PER LOAN. CDC ALSO ADMINISTERS SEVERAL LENDING PROGRAMS INCLUDING THE SBA MICROLOAN PROGRAM, A STATE SPONSORED COMMUNITY ADJUSTMENT AND INVESTMENT LOAN PROGRAM, LA DIRECT AND FAST TO FUND, CALIFORNIA REBUILDING FUND, ACTIVATE DETROIT, AND MOTOR CITY CONTRACORS FUND, ALL OF WHICH ARE DESIGNED TO PROVIDE LOANS TO SMALL BUSINESSES. 8088524 0 8077533 SBA SECTION 504 LOAN PROGRAM: CDC'S PRIMARY SOURCE OF REVENUE IS THE SERVICING AND PROCESSING OF THE SMALL BUSINESS ADMINISTRATION'S ("SBA") 504 LOAN PROGRAMS. THE 504 LOAN PROGRAM PROVIDES LONG-TERM, FIXED RATE FINANCING FOR MAJOR FIXED ASSETS THAT PROMOTE BUSINESS GROWTH AND JOB CREATION. 16752218 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 63 0 1 192 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X NATALIE GUNN CO CDC SMALL BUSINESS FINANCE CORPORATION 7036472360 1400 CRYSTAL DRIVE SUITE 500 ARLINGTON VA 22202 X ELLIS CARR PRESIDENT & CEO 20.00 20.00 X X 0 862564 39208 KURT CHILCOTT DIRECTOR/CONSULTANT 7.00 7.00 X 0 163250 0 ALAINA BEVERLY DIRECTOR 1.00 1.00 X 0 5000 0 GAIL MARKULIN DIRECTOR 1.00 1.00 X 0 5000 0 PEDRO GOITIA DIRECTOR 1.00 1.00 X 0 5000 0 L RAY MONCRIEF DIRECTOR 1.00 1.00 X 0 2500 0 DAN VARNER DIRECTOR 1.00 1.00 X 0 5000 0 ERIK CALDWELL DIRECTOR 1.00 1.00 X 0 5000 0 FRANK ROBINSON DIRECTOR 1.00 1.00 X 0 5000 0 TOM TOPUZES DIRECTOR 1.00 1.00 X 0 5000 0 LAUREN TYLOR ORION DIRECTOR 1.00 1.00 X 0 5000 0 GARY CUNNINGHAM DIRECTOR 1.00 1.00 X 0 6250 0 OSWALDO ACOSTA DIRECTOR 1.00 1.00 X 0 5000 0 GRACE CHIONUMA DIRECTOR 1.00 1.00 X 0 0 0 RICK BENITO DIRECTOR 1.00 1.00 X 0 5000 0 SHERYL CAMERON DIRECTOR 1.00 1.00 X 0 0 0 JENNIFER SMITH DOLIN DIRECTOR 1.00 1.00 X 0 6250 0 CASEY FANNON DIRECTOR 1.00 1.00 X 0 5000 0 ROBERT VILLARREAL CHIEF EXTERNAL AFFAIRS OFFICER 40.00 X 256125 0 28594 RAYMOND GUTHRIE CHIEF INVESTMENT OFFICER 20.00 20.00 X 0 429245 69917 NATALIE GUNN CHIEF FINANCIAL OFFICER 20.00 20.00 X 0 440449 43398 JARET DINARD INGS SENIOR DIRECTOR OF FINANCE 20.00 20.00 X 0 319757 73173 KIM DORSETT CHIEF HUMAN RESOURCE OFFICER 20.00 20.00 X 0 308457 56354 BRIAN MCEVOY GENERAL COUNSEL 20.00 20.00 X 0 360194 82038 MATTHEW WEHLAND CHIEF OPERATING OFFICER 20.00 20.00 X 0 349095 45520 KARLA GILL CHIEF TECHNOLOGY OFFICER 20.00 20.00 X 0 334830 37949 THOMAS BRUNE PRESIDENT VENTURES LENDING TECH 40.00 X 302684 0 46339 ANTHONY BARENGO SVP OF CREDIT 40.00 X 253607 0 33814 ANDREW ERICKSON VICE PRESIDENT, SENIOR COM 40.00 X 392024 0 60128 RANDY SHOOPMAN VP OF SOFTWARE DEVELOPMENT VENTURES 40.00 X 250319 0 31661 MARK HOGAN VICE PRESIDENT, SENIOR COM 40.00 X 312697 0 29850 JULIE MIDDLETON VICE PRESIDENT SALES AND SUPPORT 40.00 X 230597 0 36675 ERIN HEBERT HEAD OF OPERATIONS 40.00 X 251832 0 43459 2249885 3637841 758077 8 0 1 0 TODD E KOBERNICK 2448 HISTORIC DECATUR RD SUITE 220 SAN DIEGO CA 92106 LEGAL SERVICES 521750 KURT CHILCOTT 5066 CLIFF PLACE SAN DIEGO CA 92116 RETIREMENT DISBURSEMENTS 310562 2 2654144 2654144 SERVICING FEES 522220 10821819 10821819 PACKAGING FEES 522220 735413 735413 CLOSING FEES 522220 601270 601270 PROCESSING FEES 522220 357733 357733 ORIGINATION FEES 522220 1250 1250 12517485 5869905 5723258 146647 633565 464454 169111 169111 109139 59972 29819849 27107005 2712844 2712844 2712844 SBA FLOAT 522220 3136498 3136498 REVENUE REIMBURSEMENT 522220 338868 338868 BAD DEBT RECOVERY 900099 146641 146641 61711 61711 3683718 27607207 24637305 109139 206619 921163 636444 284719 12107347 7938983 4168364 1422798 931506 491292 2109978 1382792 727186 1262786 830334 432452 623017 198407 424610 475741 151505 324236 59306 59306 385583 323232 62351 150672 71703 78969 1018555 147545 871010 207728 207728 154745 73639 81106 1091452 993662 97790 683412 683412 173219 55164 118055 PROVISION FOR LOAN LOSS 1764751 1764751 0 LENDING COST 1581876 785101 796775 PROPERTY TAXES 178142 178142 0 DUES & MEMBERSHIPS 171432 81580 89852 26543703 16752218 9791485 0 8447817 10811428 10781802 10775928 5768767 15210507 54525556 69085602 2233186 2820900 13905926 7113012 6922981 6792914 2435389 2132422 1546243 895244 92661741 118524945 4815471 4490385 429894 929673 20867225 45295301 2237884 2542411 28350474 53257770 X 58781909 59722926 5529358 5544249 64311267 65267175 92661741 118524945 X 1063504 -107596 X 0 1 X 1 1 1 X 738955 2034162 2654144 5427261 22503672 6932403 24127172 24957983 24637305 103158535 22503672 6932403 24866127 26992145 27291449 108585796 0 0 0 108585796 548986 53588 5444626 4597 206619 6258416 548986 53588 5444626 4597 206619 6258416 -131116 109139 -21977 23052658 6985991 30310753 26865626 27607207 114822235 0.94570 0.94060 0.05450 0.06060 X SCHEDULE A, PART III, COLUMN (B) 2020 THE AMOUNTS IN THIS COLUMN REPRESENT A SHORT YEAR FROM 10/1/2020 THROUGH 12/31/2020. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2300000 2300000 7018651 3670433 3348218 79438 79438 0 4496337 3355812 1140525 11500 7329 4171 6792914 DEFERRED DEPOSITS 1492123 DUE TO CIP 479493 TENANTS RESERVE REFUNDABLE DEPOSITS 12620 LEASE LIABILITY 558175 2542411 X PART X, LINE 2: THE ORGANIZATION ELECTED TO CHANGE ITS EXEMPT STATUS FROM SECTION 501(C)(4) TO 501(C)(3) NOVEMBER 24, 2020. THE ORGANIZATION IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(F) OF THE CALIFORNIA REVENUE AND TAXATION CODE. CDC HAS A WHOLLY OWNED INTEREST IN SAN DIEGO REGION SMALL BUSINESS DEVELOPMENT ORGANIZATION, AN ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(F) OF THE CALIFORNIA REVENUE AND TAXATION CODE. CDC ALSO HAS A CONTROLLING INTEREST IN BANKERS, CDC VENTURES, AND CDC DIRECT CAPITAL, WHICH ARE WHOLLY OWNED FOR-PROFIT CORPORATIONS. THE ORGANIZATION HAS NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2023. BANKERS, CDC DIRECT CAPITAL, AND CDC VENTURES DID NOT HAVE ANY TAXABLE INCOME DURING THE YEAR, AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE. FEDERAL AND STATE INCOME TAX RETURNS FOR FISCAL YEARS 2022, 2021, AND 2020 REMAIN OPEN FOR EXAMINATION. MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENT. X X X X X X 0 0 0 0 0 0 0 1 0 ELLIS CARR PRESIDENT & CEO 0 862564 0 0 0 0 0 39208 0 0 0 901772 0 0 RAYMOND GUTHRIE CHIEF INVESTMENT OFFICER 0 429245 0 0 0 0 0 26734 0 43183 0 499162 0 0 NATALIE GUNN CHIEF FINANCIAL OFFICER 0 440449 0 0 0 0 0 39114 0 4284 0 483847 0 0 ANDREW ERICKSON VICE PRESIDENT, SENIOR COM 108210 0 282014 0 1800 0 39600 0 20528 0 452152 0 0 0 BRIAN MCEVOY GENERAL COUNSEL 0 360194 0 0 0 0 0 29590 0 52448 0 442232 0 0 MATTHEW WEHLAND CHIEF OPERATING OFFICER 0 349095 0 0 0 0 0 28218 0 17302 0 394615 0 0 JARET DINARD INGS SENIOR DIRECTOR OF FINANCE 0 319757 0 0 0 0 0 30541 0 42632 0 392930 0 0 KARLA GILL CHIEF TECHNOLOGY OFFICER 0 334830 0 0 0 0 0 20716 0 17233 0 372779 0 0 KIM DORSETT CHIEF HUMAN RESOURCE OFFICER 0 308457 0 0 0 0 0 26323 0 30031 0 364811 0 0 THOMAS BRUNE PRESIDENT VENTURES LENDING TECH 275135 0 25749 0 1800 0 30297 0 16042 0 349023 0 0 0 MARK HOGAN VICE PRESIDENT, SENIOR COM 147490 0 163407 0 1800 0 22364 0 7486 0 342547 0 0 0 ERIN HEBERT HEAD OF OPERATIONS 228739 0 21293 0 1800 0 23873 0 19586 0 295291 0 0 0 ANTHONY BARENGO SVP OF CREDIT 222557 0 29250 0 1800 0 24488 0 9326 0 287421 0 0 0 ROBERT VILLARREAL CHIEF EXTERNAL AFFAIRS OFFICER 192126 0 62199 0 1800 0 22385 0 6209 0 284719 0 0 0 RANDY SHOOPMAN VP OF SOFTWARE DEVELOPMENT VENTURES 226355 0 22164 0 1800 0 24175 0 7486 0 281980 0 0 0 JULIE MIDDLETON VICE PRESIDENT SALES AND SUPPORT 210720 0 18077 0 1800 0 20633 0 16042 0 267272 0 0 0 KURT CHILCOTT DIRECTOR/CONSULTANT 0 0 0 0 0 163250 0 0 0 0 0 163250 0 0 PART I, LINE 7 THE ORGANIZATION SETS OVERARCHING CORPORATE STRATEGIC PERFORMANCE GOALS AND KEY METRICS FOR THE YEAR THAT ARE APPROVED BY THE BOARD OF DIRECTORS. INDIVIDUALS THEN DEVELOP INDIVIDUAL PERFORMANCE GOALS AS APPLICABLE, LEVERAGING AND TYING INTO THE CORPORATE GOALS. THE BOARD OF DIRECTORS APPROVES A TOTAL BONUS POOL TO BE ALLOCATED AMONGST EMPLOYEES AT THE DISCRETION OF MANAGEMENT IN CONCERT WITH EVALUATIONS OF PERFORMANCE PER EMPLOYEE PERFORMANCE GOALS. FORM 990, PART III, LINE 1 WE HELP BUILD INCLUSIVE AND EQUITABLE COMMUNITIES BY PROVIDING PEOPLE ACCESS TO THE CAPITAL AND OPPORTUNITIES THEY DESERVE. FORM 990, PART VI, SECTION A, LINE 1A THE ORGANIZATION HAS AN EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE CHAIR OF THE AUDIT COMMITTEE REVIEWS THE FORM 990 WITH CDC SMALL BUSINESS FINANCE'S CHIEF FINANCIAL OFFICER, CONTROLLER AND TAX PREPARER BEFORE IT IS SUBMITTED TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE THEN INDEPENDENTLY REVIEWS THE FORM 990 PRIOR TO FILING. THE CHAIR OF THE AUDIT COMMITTEE REPORTS ON THE PROCESS AND FINDINGS OF THE AUDIT COMMITTEE AT THE NEXT REGULARLY SCHEDULED MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE GENERAL COUNSEL AND THE ETHICS OFFICIAL DESIGNATED IN THE CODE OF CONDUCT AND ETHICS POLICY JOINTLY EVALUATE ALL CONFLICTS OF WHICH THEY BECOME AWARE AND SUBMIT SUCH CONFLICTS FOR RESOLUTION TO THE BOARD'S AUDIT COMMITTEE, IF NECESSARY. MINUTES REFLECTING ALL MEETINGS HELD AND ACTIONS TAKEN BY THE AUDIT COMMITTEE, INCLUDING WITH RESPECT TO CONFLICTS MATTERS, ARE INCLUDED IN THE CORPORATE RECORD BOOK. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HAS DELEGATED THE RESPONSIBILITY FOR REVIEWING AND MAKING RECOMMENDATIONS WITH RESPECT TO EXECUTIVE COMPENSATION TO ITS EXECUTIVE COMMITTEE (THE "EXECUTIVE COMMITTEE"), PURSUANT TO THE BOARD AND COMMITTEE RETAINED AUTHORITY AND DELEGATION OF AUTHORITY TO MANAGEMENT AND THE EXECUTIVE COMMITTEE CHARTER. THE EXECUTIVE COMMITTEE REVIEWS THE COMPENSATION OF THE EXECUTIVE OFFICERS OF CDC SMALL BUSINESS FINANCE; THE EXECUTIVE COMMITTEE THEN REPORTS ITS PROCESS, FINDINGS, AND RECOMMENDATIONS TO THE BOARD OF DIRECTORS FOR INDEPENDENT REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS. THE PROCESS INCLUDES MAKING THE PROCESS OF COLLECTING AND REVIEWING MARKET DATA FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER AND THE REST OF THE EXECUTIVE MANAGEMENT TEAM; PERIODICALLY ENGAGING INDEPENDENT CONSULTANTS TO PERFORM INDEPENDENT MARKET ANALYSIS; EVALUATING THE PERFORMANCE OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER; AND RECOMMENDING ANNUAL EXECUTIVE-LEVEL COMPENSATION AND INCENTIVES (IF ANY) TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST AT THE CORPORATE OFFICE. FORM 990, PART VII, SECTION A KURT CHILCOTT IS PROVIDED COMPENSATION FOR CONSULTING SERVICES PROVIDED TO CDC AND CIP FORM 990, PART XI, LINE 9: ADOPTION OF THE CECL ACCOUNTING STANDARD FOR CREDIT LOSSES -107,596. SAN DIEGO REGION SMALL BUSINESS DEVELOPMENT 2448 HISTORIC DECATUR RD 200 SAN DIEGO CA 92106 330845173 PROVIDE ECONOMIC DEVELOPMENT TO SMALL BUSINESS IN SAN DIEGO CA 501(C)(3) LINE 7 CDC SMALL BUSINESS FINANCE CORP 1 CAPITAL IMPACT PARTNERS 1400 CRYSTAL DRIVE 500 ARLINGTON VA 22202 521290127 COMMUNITY LENDING AND DEVELOPMENT DC 501(C)(3) LINE 7 N/A 0 CDC VENTURES 2448 HISTORIC DECATUR RD 200 SAN DIEGO CA 92106 330918531 SOFTWARE CA CDC SMALL BUSINESS FINANCE CORP C 5020693 1248896 1.00000 1 CDC DIRECT CAPITAL 2448 HISTORIC DECATUR RD 200 SAN DIEGO CA 92106 201904046 COMMERCIAL FINANCE CA CDC SMALL BUSINESS FINANCE CORP C 4179986 12393037 1.00000 1 BANKERS SMALL BUSINESS COMMUNITY DEVELOPMENT CORPORATION OF CALIFORNIA 2448 HISTORIC DECATUR RD 200 SAN DIEGO CA 92106 330517722 FINANCE CA CDC SMALL BUSINESS FINANCE CORP C 1237520 11345272 1.00000 1 SMALL BUSINESS FINANCE NMTC LLC 2448 HISTORIC DECATUR RD 200 SAN DIEGO CA 92106 264096692 NEW MARKET TAX CREDITS CA CDC SMALL BUSINESS FINANCE CORP C 278758 554761 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 CDC VENTURES P 3748224 CASH CDC DIRECT CAPITAL P 1727812 CASH CDC VENTURES D 224303 CASH CDC DIRECT CAPITAL D 1163063 CASH SMALL BUSINESS FINANCE NMTC D 167907 CASH BANKERS SMALL BUSINESS CDC OF CALIFORNIA D 7190201 CASH BANKERS SMALL BUSINESS CDC OF CALIFORNIA P 3600000 CASH SAN DIEGO REGION SMALL BUSINESS DEVELOPMENT CORPORATION D 386 CASH