2025-09-26T11:54:51-05:00 2024-12-31 521711839 COUNCILOR BUCHANAN & MITCHELL PC 7910 WOODMONT AVE STE 500 BETHESDA MD 20814 990 2024-01-01 953512045 CDC SMALL BUSINESS FINANCE CORPORATION CDCS 7036472360 2448 HISTORIC DECATUR ROAD 200 SAN DIEGO CA 92106 NATALIE GUNN CFO 7036472360 2025-05-09 1 1 JOSEPH J BARRECA P00310073 3019860600 2025-09-18 2024 2025-03-06 01:10:19Z NATALIE GUNN 2448 HISTORIC DECATUR ROAD 200 SAN DIEGO CA 92106 75035202 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. 17 15 169 0 106964 19214 2654144 1557562 12517485 13218727 8582749 11356170 3852829 4834008 27607207 30966467 0 0 0 0 17824072 18377087 0 0 0 8719631 10888493 26543703 29265580 1063504 1700887 118524945 133382730 53257770 66414668 65267175 66968062 X SEE SCHEDULE O 0 0 11290863 0 1330593 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. 8465098 0 11888134 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. 19755961 1 1 0 1 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 1 166 0 1 169 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 17 15 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 1029249 35104 KURT CHILCOTT DIRECTOR/CONSULTANT 7.00 7.00 X 0 211250 0 OSWALDO ACOSTA DIRECTOR 1.00 1.00 X 0 5000 0 RICK BENIITO DIRECTOR 1.00 1.00 X 0 3750 0 ALAINA BEVERLY DIRECTOR 1.00 1.00 X 0 5000 0 ERIK CALDWELL DIRECTOR 1.00 1.00 X 0 3750 0 SHERYL CAMERON DIRECTOR 1.00 1.00 X 0 0 0 GRACE CHIONUMA DIRECTOR 1.00 1.00 X 0 0 0 GARY CUNNINGHAM DIRECTOR 1.00 1.00 X 0 5625 0 JENNIFER SMITH DOLIN DIRECTOR 1.00 1.00 X 0 5000 0 CASEY FANNON DIRECTOR 1.00 1.00 X 0 5000 0 PEDRO GOITIA DIRECTOR 1.00 1.00 X 0 5000 0 GAIL MURKLIN DIRECTOR 1.00 1.00 X 0 3750 0 TYLOR ORION 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 DAN VARNER DIRECTOR 1.00 1.00 X 0 5000 0 NATALIE GUNN CHIEF FINANCIAL OFFICER 20.00 20.00 X 0 451758 67112 JARET DINARD INGS SENIOR DIRECTOR OF FINANCE 20.00 20.00 X 0 321499 56010 KIM DORSETT CHIEF HUMAN RESOURCE OFFIC 20.00 20.00 X 0 310043 42798 BRIAN MCEVOY GENERAL COUNSEL 20.00 20.00 X 0 379015 58530 MATTHEW WEHLAND CHIEF OPERATING OFFICER 20.00 20.00 X 0 352981 38662 KARLA GILL CHIEF TECHNOLOGY OFFICER 20.00 20.00 X 0 406811 39033 THOMAS BRUNE PRESIDENT VENTURES LENDING 40.00 X 290494 0 49025 ANTHONY BARENGO HEAD OF COMMERCIAL REAL ESTATE 40.00 X 252485 0 37779 ANDREW ERICKSON VICE PRESIDENT, SENIOR COM 40.00 X 279875 0 57934 RANDY SHOOPMAN VP OF SOFTWARE DEVELOPMENT 40.00 X 247176 0 33612 KENNETH ROSENTHAL SR ADVISOR FOR LENDING-ED & TRAINING 40.00 X 395100 0 42333 ANDREW MORT CRE SALES MANAGER 40.00 X 227578 0 20245 ERIN HEBERT HEAD OF OPERATIONS 40.00 X 237738 0 48857 1930446 3524481 627034 60 0 1 0 KURT CHILCOTT 5066 CLIFF PLACE SAN DIEGO CA 92116 RETIREMENT DISBURSEMENTS 337465 RSI ROOFING 8285 BUCKHORN STREET SAN DIEGO CA 92111 ROOFING 282402 TODD E KOBERNICK 2448 HISTORIC DECATUR RD SUITE 220 SAN DIEGO CA 92106 LEGAL SERVICES 232922 LIEN SOLUTIONS PO BOX 301133 DALLAS TX 75303 LIEN SEARCHES 113649 4 1557562 1557562 SERVICING FEES 522220 10802812 10802812 PROCESSING FEES 522220 1221210 1221210 PACKAGING FEES 522220 793341 793341 CLOSING FEES 522220 396152 396152 ORIGINATION FEES 522220 5212 5212 13218727 6842584 6544079 298505 729738 516450 213288 213288 106964 106324 48065871 43552285 4513586 4513586 4513586 SBA FLOAT 522220 3889324 3889324 REVENUE REIMBURSEMENT 522220 343918 343918 OTHER INCOME 900099 199892 199892 187586 187586 4620720 30966467 24383526 106964 4918415 579433 579433 13811486 8278607 5532879 1338116 1166316 171800 1482354 1264259 218095 1165698 1011902 153796 797526 369397 428129 399503 185041 214462 106980 106980 364158 364158 355113 146718 208395 827602 99058 728544 108621 108621 179939 74344 105595 2207701 2123853 83848 883273 883273 162629 75326 87303 PROVISION FOR LOAN LOSS 3118581 3118581 LENDING COST 1030131 638075 392056 PROPERTY TAXES 180211 83470 96741 DUES & MEMBERSHIPS 166525 68802 97723 29265580 19755961 9509619 0 10811428 17178817 10775928 3012496 15210507 15441974 69085602 82630596 2820900 4530456 15367112 7997043 6792914 7370069 2132422 2030566 895244 1187756 118524945 133382730 4490385 6064581 929673 994661 45295301 57225908 2542411 2129518 53257770 66414668 X 59722926 61649438 5544249 5318624 65267175 66968062 118524945 133382730 1700887 0 X X 0 1 X 1 1 1 X 738955 2034162 2654144 1557562 6984823 6932403 24127172 24957983 24637305 24620311 105275174 6932403 24866127 26992145 27291449 26177873 112259997 0 0 0 112259997 53588 5444626 4597 206619 404829 6114259 53588 5444626 4597 206619 404829 6114259 -131116 109139 106964 84987 6985991 30310753 26865626 27607207 26689666 118459243 0.94770 0.94570 0.05160 0.05450 X SCHEDULE A, PART III, COLUMN (A) 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 0 0 0 0 0 0 0 0 1 5000 5000 0 PART II-B, LINE 1: CONSULTANT SERVICES INCLUDED CONGRESSIONAL OUTREACH IN REGARDS TO THE SBA MICROLOAN PROGRAM. 2300000 2300000 8067170 3927226 4139944 79438 79438 0 4909004 3982292 926712 11500 8087 3413 7370069 DEFERRED DEPOSITS 1697859 TENANTS RESERVE REFUNDABLE DEPOSITS 12620 LEASE LIABILITY 419039 2129518 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, 2024. 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. MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. MANAGEMENT AS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31,2024, 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 STATEMENTS. X X X X X X 0 0 0 0 0 0 0 1 0 ELLIS CARR PRESIDENT & CEO 0 1029249 0 0 0 0 0 35104 0 0 0 1064353 0 0 NATALIE GUNN CHIEF FINANCIAL OFFICER 0 451758 0 0 0 0 0 40501 0 26611 0 518870 0 0 KARLA GILL CHIEF TECHNOLOGY OFFICER 0 406811 0 0 0 0 0 36954 0 2079 0 445844 0 0 BRIAN MCEVOY GENERAL COUNSEL 0 379015 0 0 0 0 0 31485 0 27045 0 437545 0 0 KENNETH ROSENTHAL SR ADVISOR FOR LENDING-ED & TRAINING 131209 0 262091 0 1800 0 28253 0 14080 0 437433 0 0 0 MATTHEW WEHLAND CHIEF OPERATING OFFICER 0 352981 0 0 0 0 0 29919 0 8743 0 391643 0 0 JARET DINARD INGS SENIOR DIRECTOR OF FINANCE 0 321499 0 0 0 0 0 33922 0 22088 0 377509 0 0 KIM DORSETT CHIEF HUMAN RESOURCE OFFIC 0 310043 0 0 0 0 0 27257 0 15541 0 352841 0 0 THOMAS BRUNE PRESIDENT VENTURES LENDING 262944 0 25750 0 1800 0 31362 0 17663 0 339519 0 0 0 ANDREW ERICKSON VICE PRESIDENT, SENIOR COM 111821 0 166254 0 1800 0 33736 0 24198 0 337809 0 0 0 ANTHONY BARENGO HEAD OF COMMERCIAL REAL ESTATE 229685 0 21000 0 1800 0 27509 0 10270 0 290264 0 0 0 ERIN HEBERT HEAD OF OPERATIONS 214645 0 21293 0 1800 0 25470 0 23387 0 286595 0 0 0 RANDY SHOOPMAN VP OF SOFTWARE DEVELOPMENT 222545 0 22831 0 1800 0 25253 0 8359 0 280788 0 0 0 ANDREW MORT CRE SALES MANAGER 201591 0 24187 0 1800 0 20245 0 0 0 247823 0 0 0 KURT CHILCOTT DIRECTOR/CONSULTANT 0 5000 0 0 0 206250 0 0 0 0 0 211250 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 XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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 4896155 1198955 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 4274967 29081531 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 905459 9389911 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 349346 791744 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 BANKERS SMALL BUSINESS CDC OF CALIFORNIA D 697006 CASH CDC VENTURES P 234203 CASH SAN DIEGO REGION SMALL BUSINESS DEVELOPMENT CORPORATION D 386 CASH MOMENTUS DIRECT CAPITAL P 3742264 CASH SMALL BUSINESS FINANCE NMTC P 91644 CASH BANKERS SMALL BUSINESS CDC OF CALIFORNIA D 1500000 CASH MOMENTUS DIRECT CAPITAL D 14950000 CASH