2024-05-15T21:57:05-07:00 2023-06-30 273006038 Jaribu W Nelson CPA INC 250 West Spruce Avenue Ste 105 Clovis CA 93611 990 2022-07-01 942656048 EL PAJARO COMMUNITY DEVELOPMENT CORP ELPA 8317221224 23 EAST BEACH STREET 209 WATSONVILLE CA 95076 JUNE PADILLA PONCE Treasurer 2024-05-15 true JUNE PADILLA PONCE 999009999 true JARIBU NELSON P00642873 5592867546 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z 23 EAST BEACH STREET 209 WATSONVILLE CA 95076 2392811 false X WWW.ELPAJAROCDC.ORG X 1979 CA EL PAJARO CDCS MISSION IS TO PROMOTE EQUAL ACCESS TO ECONOMIC OPPORTUNITYTHE PURPOSE OF THIS CORPORATION IS TO CREATE AND IMPLEMENT COMMUNITY ECONOMIC DEVELOPMENT PROGRAMS IN SANTA CRUZ, MONTEREY, AND SAN BENITO COUNTIES. THE CORPORATION PROVIDES ENTREPRENEURIAL OPPORTUNITIES, FINANCIAL PRODUCTS AND DEVELOPMENT SERVICES TO SUPPORT THE CREATION OF SMALL BUSINESSES, SELF-EMPLOYMENT AND JOBS FOR LOW INCOME AND LATINO RESIDENTS. THE CORPORATION SHALL ALSO PROMOTE DEVELOPMENT AND FINANCING OF HOUSING FOR LOW-INCOME RESIDENTS. THE POPULATION SERVED IS UNDERREPRESENTED AND UNDER SERVED MINORITY SMALL BUSINESS OWNERS AND ENTREPRENEURS SEEKING TECHNICAL AND BUSINESS ASSISTANCE. THE FOCUS OF THE ORGANIZATION IS THE EXPANSION OF ECONOMIC OPPORTUNITIES AND JOBS TO BENEFIT THE TARGET POPULATION. 9 9 11 0 2444826 1742770 498353 548758 101 6381 27907 94902 2971187 2392811 0 0 486811 773712 0 0 962095 1592163 1448906 2365875 1522281 26936 6574492 7229577 3171129 3799278 3403363 3430299 EL PAJARO CDCS MISSION IS TO PROMOTE EQUAL ACCESS TO ECONOMIC OPPORTUNITYTHE PURPOSE OF THIS CORPORATION IS TO CREATE AND IMPLEMENT COMMUNITY ECONOMIC DEVELOPMENT PROGRAMS IN SANTA CRUZ, MONTEREY, AND SAN BENITO COUNTIES. THE CORPORATION PROVIDES ENTREPRENEURIAL OPPORTUNITIES, FINANCIAL PRODUCTS AND DEVELOPMENT SERVICES TO SUPPORT THE CREATION OF SMALL BUSINESSES, SELF-EMPLOYMENT AND JOBS FOR LOW INCOME AND LATINO RESIDENTS. THE CORPORATION SHALL ALSO PROMOTE DEVELOPMENT AND FINANCING OF HOUSING FOR LOW-INCOME RESIDENTS. THE POPULATION SERVED IS UNDERREPRESENTED AND UNDER SERVED MINORITY SMALL BUSINESS OWNERS AND ENTREPRENEURS SEEKING TECHNICAL AND BUSINESS ASSISTANCE. THE FOCUS OF THE ORGANIZATION IS THE EXPANSION OF ECONOMIC OPPORTUNITIES AND JOBS TO BENEFIT THE TARGET POPULATION. false false 1546862 Fiscal years 2021-2023 were unprecedented for our organization. Over the past four years, our community has weathered several disasters, from earthquakes to floods, but nothing has compared to the challenges of the past three years. With COVID-19, the 2020 fire season, and the 2023 flooding and Pajaro levee break, our businesses have been hit hard but remain resilient. In the aftermath of COVID-19, our team has focused on supporting local small businesses in long-term recovery. Simultaneously, we have worked on emergency response efforts for those affected by recent flooding and weather-related events in the Pajaro and Salinas Valleys. These events have also presented opportunities, as many individuals have been inspired to start new businesses. During the past year, the demand for our EMPRESARI@ core business class continued to increase, and there was also a rise in demand for other business development services and training.Our El Pajaro Regional Womens Business Center, sponsored in part by the U.S. Small Business Administration (SBA), is part of a national network of entrepreneurship centers throughout the United States and its territories. These centers are designed to assist women and other underserved business owners in starting and growing small businesses. Women's Business Centers seek to "level the playing field" for women entrepreneurs, who still face unique obstacles in the business world. This designation has allowed El Pajaro CDC to increase its services to women, entrepreneurs of color, and rural-based businesses. Since receiving this designation, our workload has continued to increase. During fiscal year 2022-2023, we provided business development services to 871 current and prospective entrepreneurs. Among them, 429 participated in training, and 788 received individual business advice. Seventy-two percent of our clients were women, 95% were people of color, 90% were Latino/Hispanic, and 14% were located in rural areas.As previously reported, in January 2021, El Pajaro CDC launched its in-house lending program. This program provides micro-loans to our small business clients with limited access to traditional lending opportunities. These loans come with access to our technical assistance, follow-up counseling, credit training, and other business support services. Our team has continue working on preparing a second application for certification as a Community Development Financial Institution (CDFI). This certification will enhance our ability to attract loan funds and increase the availability of loans to the community. The El Pajaro CDC loan program aims to fill a persistent gap in mainstream capital access for underserved businesses. The new loan program complements existing programs at Pjaro for a more holistic approach to supporting businesses, with a significant focus on loan readiness support to enable capital access. Our focus is on supporting prospective business borrowers who may face challenges such as being perceived as too risky by many lenders, having loan requests that are too small for many lenders, or facing strict underwriting criteria that result in denials for underserved businesses.As of June 30, 2023, 18 loans totaling $537,930.00 have been made using funds from HHS-OCS Community Economic Development, Community Foundation for Monterey County Foundation, NALCAB, and El Pajaros internal loan fund. Loan terms range from 12 months to five years, with interest rates ranging from 5% to 9%. Flexible underwriting criteria and the use of alternative collateral allow economically disadvantaged businesses to qualify for financing. Extended terms and low-interest rates contribute to the affordability of payments. El Pajaro CDC also offers a Rural Business Loan at 0% interest through a collaboration with NALCAB and HUD. Additionally, El Pajaro CDC partnered with the County of Santa Cruz to deploy forgivable loans for Family Childcare Providers. As of June 2023, our team has approved 21 childcare loans for a total of $210,000. As a result, our lending team closed the year with 28 approved loans totaling $747,930. We are proud of this progress and look forward to increasing our lending during 2024.During the past year, the EPCDC team also developed a new Childcare Business Creation and Expansion Program. This program includes the new Childcare Industry Training and Grants Program. Once participants complete the program, they will be eligible to receive a grant that supports the creation or expansion of their business. The grants will be awarded during the fiscal year ending June 2024. This program has been made possible thanks to a $1 million grant from the State of California Employment Training Panel (ETP).El Pajaro CDC's commercial kitchen incubator (CKI) has been serving tri-county entrepreneurs for more than nine years and currently has 35 small food businesses operating in the facility, with five new entrepreneurs in the licensing process. Over the past years, this program has supported not only food entrepreneurs operating at the facility but also other food-based businesses. This included the expansion of a How to Start a Food Business training program. 1546862 true false false false false false false false false false true false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 6 0 true 11 true false false false false false false false 0 false false false false false false false X 9 9 false false false false false false false true true false false true true true true true true true true false CA X THE ORGANIZATION 8317221224 23 EAST BEACH STREET WATSONVILLE CA 95076 X CARMEN HERRERA-MANSIR Executive Direc 40.00 0.00 X 0 0 0 ANA LUISA CORTEZ VICE CHAIR 2.00 0.00 X X 0 0 0 GUADALUPE ZEPEDA Director 2.00 0.00 X 0 0 0 EDUARDO CERVANTES Director 2.00 0.00 X 0 0 0 JORGE REGUERIN Chairman 6.00 0.00 X X 0 0 0 HEIDI PICKMAN Director 2.00 0.00 X 0 0 0 BRAD BARBEU Director 2.00 0.00 X 0 0 0 ROSA SANCHEZ DURAN Director 2.00 0.00 X 0 0 0 JUNE PADILLA PONCE Treasurer 2.00 0.00 X X 0 0 0 0 false false false 0 765725 977045 1742770 BUSINESS SERVICES 611430 444074 444074 PROGRAM SERVICE 531310 44684 44684 PROPERTY MANAGEMENT 531310 60000 60000 548758 6381 6381 0 0 0 0 0 0 0 MISCELLANEOUS 531390 94902 94902 94902 2392811 650041 X 0 0 0 0 0 0 637661 553656 84005 0 87642 10930 76712 48409 44414 3995 0 0 0 0 0 0 508889 290840 218049 2835 1021 1814 17070 13251 3819 74405 5021 69384 0 3000 3000 34654 19647 15007 0 0 131211 17543 113668 0 173177 173177 14715 10111 4604 LOAN PROGRAM 160000 160000 UTILITIES 130909 130890 19 COVID BUSINESS SUPPORT 97559 97559 MAINTENANCE/REPAIR 81068 74623 6445 162671 117356 45315 2365875 1546862 819013 0 1868327 2160148 0 367020 457516 62769 160620 0 0 552882 772165 0 3382 13968 6285728 2620657 3719113 3665071 0 0 0 912 0 87 89 6574492 7229577 284051 313727 623960 2818613 2800191 68465 61400 3171129 3799278 X 2314353 2458228 1089010 972071 3403363 3430299 6574492 7229577 26936 X false true X true false X 773377 640761 1259230 2444826 1742770 6860964 0 0 773377 640761 1259230 2444826 1742770 6860964 0 6860964 14 14 44 101 6381 6554 0 9 253 73962 27907 94902 197033 7064551 0.97120 0.98180 X 453087 453087 4388156 1928674 2459482 608808 378538 230270 327600 223966 103634 508077 89479 418598 3665071 CURRENT MATURITIES OF LONG-TERM DEBT 61400 61400 X 2392811 2392811 2392811 2365875 2365875 2365875 Part X : FIN48 Footnote El Pajaro Community Development Corporation is exempt from taxation under Internal Revenue Code Section 501c3 and California Revenue and Taxation Code Section 23701d.Generally accepted accounting principles provide accounting and disclosure guidance about positions taken by an organization on its tax returns that might be uncertain. Management has considered its tax positions and believes that all of the positions taken by the Organization in its federal and state exempt organization tax returns are more likely than not to be sustained upon examination. The Organizations returns are subject to examination by federal and state taxing authorities, generally for three and four years respectively, after they are filed. Form 990, Part VI, Section B, Line 11b THE 990 IS REVIEWED BY THE FINANCE COMMITTEE AND THE MANAGEMENT STAFF INCLUDING THE EXECUTIVE DIRECTOR AND OUR CONSULTING CPA. THE SECOND LEVEL OF REVIEW IS CONDUCTED BY THE BOARD OF DIRECTORS WHICH INCLUDES THE TREASURER. THIS REVIEW IS CONDUCTED IN ADVANCE OF SUBMISSION OF THE 990 TO THE IRS. ONCE THE STAFF AND THE FINANCE COMMITTEE HAVE APPROVED THE 990, Form 990, Part VI, Section B, Line 12c THE ORGANIZATION REVIEWS AND APPROVES ALL SIGNIFICANT TRANSACTIONS AND INCLUDES A REVIEW OF CONFLICTS OF INTEREST. ANY LINKS OF BOARD MEMBERS OR KEY EMPLOYEES TO FINANCIAL TRANSACTIONS ARE DISCUSSED AT THE BOARD LEVEL. IF A REAL CONFLICT OF INTEREST IS IDENTIFIED, THAT BOARD OR STAFF MEMBER WOULD IDENTIFY THEIR INTEREST AND RECUSE THEMSELVES FROM ANY DECISION-MAKING PROCESS. AS NOTED, OFFICERS AND BOARD MEMBERS ARE REQUIRED ANNUALLY, TO DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. Form 990, Part VI, Section B, Line 15b COMPENSATION FOR THE EXECUTIVE DIRECTOR IS SET BY THE BOARD OF DIRECTORS. THE PROCESS BEGINS WITH AN ANNUAL EVALUATION OF THE E.D. BY THE BOARD OF DIRECTORS. THE BOARD SECURES AND REVIEWS CURRENT SALARY AND COMPENSATION DATA FOR THE NON-PROFIT SECTOR FROM AT LEAST TWO SOURCES. Form 990, Part VI, Section C, Line 19 THE ORGANIZATION MAKES ALL GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC COPIES OF ARTICLES OF INCORPORATION, BY-LAWS, IRS CONFIRMATION OF 501C3 STATUS, EMPLOYEE MANUALS, BOARD AGENDAS AND MINUTES, BOARD RESOLUTIONS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR REVIEW AND INSPECTION AT THE ORGANIZATION'S OFFICES.