2022-06-08T12:02:35-05:00 2021-09-30 390758449 WIPFLI LLP 7887 E BELLEVIEW AVE SUITE 700 DENVER CO 80111 990 2020-10-01 453064996 COMMUNITY ENTERPRISE DEVELOPMENT SERVICES COMM 3035698165 10660 EAST COLFAX AVENUE SUITE B AURORA CO 80010 ALEXANDRIA WISE EXECUTIVE DIRECTOR 3035698165 2022-05-25 1 ALEXANDRIA WISE 999009999 ROBERT E FABRY CPA P00757821 3037590089 2022-05-25 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z X ALEXANDRIA WISE 10660 EAST COLFAX AVENUE SUITE B AURORA CO 80010 2438749 0 X WWW.CEDSFINANCE.ORG X 2011 CO TO PROVIDE ASSISTANCE TO REFUGEES, IMMIGRANTS, AND THOSE FROM UNDERSERVED COMMUNITIES IN THE DENVER METRO AREA WHO DESIRE TO OWN OR STRENGTHEN BUSINESSES, DEVELOP WEALTH, AND EMPOWER THEMSELVES FINANCIALLY. 9 9 10 10 0 0 1107535 2269188 198865 169179 305 382 309 0 1307014 2438749 25000 6000 0 0 511088 583372 0 0 40154 484742 209699 1020830 799071 286184 1639678 5357649 7776464 3698382 4477519 1659267 3298945 X THE MISSION OF COMMUNITY ENTERPRISE DEVELOPMENT SERVICES IS TO SUPPORT THE AMERICAN DREAM OF FINANCIAL SELF-SUFFICIENCY, BY ASSISTING REFUGEES, IMMIGRANTS, AND THOSE FROM UNDERSERVED COMMUNITIES IN METRO DENVER WHO DESIRE TO OWN OR STRENGTHEN BUSINESSES, DEVELOP ASSETS, AND EMPOWER THEMSELVES FINANCIALLY. 0 0 601468 6000 169179 AS PART OF THE MICRO-ENTERPRISE (MED) PROGRAM, THE ORGANIZATION IS ENGAGED TO PROMOTE BUSINESS AND SELF-EMPLOYMENT AMONG UNDERSERVED DENVER METRO RESIDENTS WITH A PARTICULAR CONCENTRATION ON REFUGEES AND IMMIGRANTS AND THOSE FROM UNDERSERVED COMMUNITIES. MED LOAN AMOUNTS RANGE FROM $100 TO $50,000, WITH TERMS OF UP TO FIVE YEARS. MED LOANS CAN BE COLLATERALIZED BY ANY ASSETS OF THE BORROWER. ALL LOANS ARE SECURED BY SOME FORM OF COLLATERAL. INTEREST RATES ON THE LOANS ARE BASED ON A VARIETY OF RISK FACTORS AND THE PRIME RATE AND RANGE FROM 7.75% TO 10.25%. MED LOAN PAYMENTS ARE DUE TO THE ORGANIZATION ON THE 15TH DAY OF EACH MONTH. A LATE FEE OF 5% IS ASSESSED IF LOAN PAYMENTS ARE ELEVEN OR MORE DAYS LATE. IF A MICRO-ENTERPRISE LOAN IS DEEMED TO BE IN DEFAULT, A BORROWER MAY BE ASKED TO VOLUNTARILY SURRENDER THE PLEDGED COLLATERAL. 601468 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 19 0 1 10 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 CO X X X THE ORGANIZATION 3035698165 10660 EAST COLFAX AVENUE SUITE B AURORA CO 80010 JEREMY HARKEY CHAIR 1.00 X X 0 0 0 JOSH PEEBLES TREASURER 1.00 X X 0 0 0 PATRICK HORVATH DIRECTOR 1.00 X 0 0 0 PAUL STEIN DIRECTOR 1.00 X 0 0 0 JONALYN DENLINGER DIRECTOR 1.00 X 0 0 0 ABRAM SLOSS DIRECTOR 1.00 X 0 0 0 BRIAN BURKE DIRECTOR 1.00 X 0 0 0 KAROL JONES DIRECTOR 1.00 X 0 0 0 MARIA GONZALEZ DIRECTOR 1.00 X 0 0 0 ALEXANDRIA WISE EXECUTIVE DIRECTOR 40.00 X 104332 0 8800 104332 0 8800 1 0 0 0 0 851744 1417444 2269188 MICRO LOAN INTEREST 525990 108301 108301 PROGRAM FEES 525990 60878 60878 169179 382 382 2438749 169179 0 382 X 6000 6000 114474 74408 22895 17171 377765 301663 70138 5964 15564 11890 2942 732 42354 32360 8004 1990 33215 25376 6278 1561 1306 1175 131 13000 13000 113630 92373 12201 9056 30404 20879 8841 684 14992 13102 1670 220 30447 25880 3045 1522 128 120 8 25959 25959 289 217 72 22172 16385 5787 MEMBERSHIPS AND DUES 17654 15122 1286 1246 DEBT RELIEF 14605 14605 TELEPHONE 5793 4634 1159 LOAN LOSS RECOVERY -80680 -80680 799071 601468 157449 40154 1663982 2590676 1832318 3619282 421705 210064 1327779 1258546 3997 12042 6817 6238 868 579 107000 85275 5357649 7776464 117802 57300 500000 2973580 4334944 107000 85275 3698382 4477519 X 1623967 2245596 35300 1053349 1659267 3298945 5357649 7776464 1639678 0 X 0 1 X 1 1 1 X 316093 796268 890455 1107535 2269188 5379539 316093 796268 890455 1107535 2269188 5379539 5379539 210 254 433 305 382 1584 1054 8520 4544 309 14427 5395550 690939 0.99700 0.99570 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2016 AMOUNT: $ 1,054. 2017 AMOUNT: $ 8,520. 2018 AMOUNT: $ 4,544. 2019 AMOUNT: $ 309. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6817 6238 579 579 AMOUNTS PAYABLE AS FISCAL AGENT 85275 85275 X 2438749 0 2438749 0 2438749 799071 0 799071 0 799071 PART X, LINE 2: THE ORGANIZATION APPLIES A MORE-LIKELY-THAN-NOT MEASUREMENT METHODOLOGY TO REFLECT THE FINANCIAL STATEMENT IMPACT OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. AFTER EVALUATING THE TAX POSITIONS TAKEN, NONE ARE CONSIDERED TO BE UNCERTAIN; THEREFORE, NO AMOUNTS HAVE BEEN RECOGNIZED AS OF SEPTEMBER 30, 2021. 1 FOUNDATION FOR BLACK ENTREPRENEURSHIP 20340 E 40TH AVE DENVER CO 80249 525188795 501C3 6000 ENTERPRENEURS SUPPORT 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND THEN PRESENTED AT THE MEETING OF THE BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND BOARD MEMBERS ARE EXPECTED TO TAKE INITIATIVES TO SHOW POTENTIAL OR ACTUAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DETERMINES THE EXECUTIVE DIRECTOR'S SALARY. COMPENSATION IS INITIATED BY THE EXECUTIVE DIRECTOR AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 WE MAKE SURE OUR GOVERNING DOCUMENTS ARE AVAILABLE FOR ANYONE INTERESTED TO VIEW AT OUR OFFICE AND OTHER APPROPRIATE PUBLIC AGENCIES. FORM 990, PART IX, LINE 11G OTHER FEES: PROGRAM SERVICE EXPENSES 92,373. MANAGEMENT AND GENERAL EXPENSES 12,201. FUNDRAISING EXPENSES 9,056. TOTAL EXPENSES 113,630.