2024-08-14T16:36:47-05:00 2023-09-30 946214841 ARMANINO LLP 2700 CAMINO RAMON STE 350 SAN RAMON CA 945835004 990 2022-10-01 453064996 COMMUNITY ENTERPRISE DEVELOPMENT SERVICES COMM 3035698165 10660 E COLFAX AVE B AURORA CO 80010 ALEXANDRIA WISE EXECUTIVE DIRECTOR 3035698165 2024-08-13 1 1 KATY BROWN P00650274 9257902600 2024-08-13 2022 2024-08-08 14:25:15Z ALEXANDRIA WISE 10660 E COLFAX AVE B AURORA CO 80010 2657876 0 X WWW.CEDSFINANCE.ORG X 2011 CO SEE SCHEDULE OCOMMUNITY ENTERPRISE DEVELOPMENT SERVICES' MISSION 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. 6 6 17 12 0 0 1815871 2310984 154240 263233 857 83533 0 -16600 1970968 2641150 500 58732 0 0 833594 1344504 3000 0 81317 402107 974097 1239201 2377333 731767 263817 7813338 11399395 3782626 7104866 4030712 4294529 X 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 2053289 58732 263233 SINCE OUR FOUNDING, CEDS FINANCE HAS INVESTED OVER $12.6M INTO THE LOCAL COMMUNITY, HELPING NEARLY 600 UNDERSERVED ENTREPRENEURS START OR GROW THEIR BUSINESSES, GENERATING 1,000+ LOCAL JOBS. IN FISCAL YEAR 2023, CEDS FINANCE INVESTED $3M INTO 103 SMALL BUSINESS OWNERS, PROVIDING WORKING CAPITAL AND BUSINESS TECHNICAL ASSISTANCE TO HELP IMMIGRANTS, REFUGEES, PEOPLE OF COLOR, AND OTHER UNDERSERVED POPULATIONS LIVE THE AMERICAN DREAM OF FINANCIAL SELF-SUFFICIENCY. ADDITIONALLY, CEDS FINANCE STAFF PROVIDES 1-1 BUSINESS CONSULTING, DIRECT OPERATIONAL SUPPORT, AND INDIVIDUALIZED REFERRALS TO RESOURCES TO APPLICANTS AND CLIENTS. THE ORGANIZATION ALSO REGULARLY CONDUCTS WORKSHOPS ON LOAN READINESS AND OTHER RELEVANT FINANCIAL TOPICS. IN FY23 THE CEDS FINANCE BUSINESS SUPPORT TEAM ASSISTED (CONT. ON SCH. O) 167 BUSINESSES WITH TAILORED SUPPORT AND PROVIDED 102 TECHNICAL ASSISTANCE GRANTS TO CLIENTS. 2053289 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 19 0 1 17 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 1 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 E COLFAX AVE B AURORA CO 80010 KAROL JONES BOARD CHAIR 1.00 X X 0 0 0 JONALYN DENLINGER VICE CHAIR 1.00 X X 0 0 0 JOSH PEEBLES TREASURER 1.00 X X 0 0 0 PATRICK HORVATH SECRETARY 1.00 X X 0 0 0 NICOLE CARNER DIRECTOR 1.00 X 0 0 0 JEREMY HARKEY DIRECTOR 1.00 X 0 0 0 ALEXANDRIA WISE EXECUTIVE DIRECTOR 40.00 X 100209 0 9216 100209 0 9216 1 0 0 0 0 39756 759394 1511834 2310984 PROGRAM FEES 525990 133726 133726 MICRO LOAN INTEREST 525990 129507 129507 263233 83533 83533 0 39756 16726 -16726 -16726 MERCHANDISE SALES 459900 126 126 126 2641150 263233 0 66933 58732 58732 176936 150395 17694 8847 982157 834834 98216 49107 29650 25202 2965 1483 68391 58134 6838 3419 87370 74266 8736 4368 20490 18441 2049 45000 45000 196243 186388 9202 653 14974 13477 1497 153489 124787 26806 1896 17888 16917 783 188 132306 112461 13230 6615 1006 875 131 30854 29311 1543 19175 19175 14479 10859 3620 28379 20799 7580 BAD DEBT 205310 205310 PROGRAM EXPENSES 80181 80181 MEMBERSHIP DUES 14167 12745 8 1414 OTHER MISC EXPENSE 156 156 2377333 2053289 242727 81317 1876360 2433399 4095588 4694068 309584 672409 1464177 2466858 35577 32241 106061 23597 32052 82464 0 1017956 7813338 11399395 101734 173669 3389226 4434105 291666 2497092 3782626 7104866 X 2513717 2464858 1516995 1829671 4030712 4294529 7813338 11399395 263817 0 X 0 1 X 1 1 1 X 890455 1107535 2269188 1815871 2310984 8394033 890455 1107535 2269188 1815871 2310984 8394033 1260936 7133097 433 305 382 857 83533 85510 4544 309 4853 8484396 917294 0.84070 0.90500 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22021 3611 18410 84040 19986 64054 82464 RIGHT OF USE ASSETS 1017956 1017956 REFUNDABLE ADVANCES 1463000 LEASE LIABILITY 1034092 2497092 X 2669555 28561 28561 2640994 156 156 2641150 2405738 28561 28561 2377177 156 156 2377333 PART X, LINE 2: THE ORGANIZATION IS A NONPROFIT CORPORATION AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. CONTRIBUTIONS TO THE ORGANIZATION QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A), AND COMMUNITY ENTERPRISE DEVELOPMENT SERVICES HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A). 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, 2023 AND 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: OTHER ADMIN EXPENSES 156. PART XII, LINE 4B - OTHER ADJUSTMENTS: OTHER ADMIN EXPENSES 156. LAUNCH PARTY 39756 39756 16726 39756 39756 16726 16726 -16726 1 GRANTS TO INDIVIDUALS 74 58732 PART I, LINE 2: THE ORGANIZATION GRANTS TO SMALL BUSINESS OWNERS ACCORDING TO ELIGIBILITY REQUIREMENTS, AND IT DOES NOT MONITOR THE USE OF THE GRANT FUNDS AFTERWARDS. FORM 990, PART VI, SECTION A, LINE 4 IN SEPTEMBER 2023, THE ORGANIZATION'S BYLAWS WAS RESTATED TO UPDATE ITS PURPOSE TO TIE TO THE MISSION. OTHER CHANGES INCLUDE: * GOVERNANCE WAS ADDED CLARIFYING RESPONSIBILITIES OF THE BOARD AND CLARIFYING WHAT IS LEFT TO THE ED. CLARIFIES THE POLICIES THE ED USES TO GOVERN. STATES REVIEW OF POLICIES ON A RECURRING CYCLE AND VOTES TO APPROVE * INCREASES TERMS A BOARD MEMBER MAY SERVE FROM TWO TO THREE * STATES THAT BOARD MEMBERS MUST ADHERE TO BYLAWS, ALL SIGN & ABIDE BY JOB DESCRIPTION WHICH DEFINES RESPONSIBILITIES BY ROLE. EXPLICITLY STATES ED IS HIRED BY BOARD AND THEIR COMPENSATION DETERMINED BY BOARD * CLARIFIES TERM A NEW BOARD MEMBER FILLING A VACANCY WILL SERVE * STATES NO COMPENSATION FOR BOARD MEMBERS * SUCCESSION PLAN ADDED * RESTATED TO ADHERE TO ACTUAL FISCAL YEAR IN USE * INCREASES THRESHOLD OF EXPENDITURES TO BE APPROVED BY BOARD * REMOVES THE NEED FOR A SECOND SIGNATURE ON CHECKS OVER $5,000 * ADDS JOB DESCRIPTIONS FOR MEMBERS OF THE BOARD 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 THE CONFLICT OF INTEREST REVIEW FORM IS INCLUDED IN BOARD MEMBER APPLICATIONS AND EMPLOYEE ONBOARDING AND THE FORM WILL BE RE-FILLED OUT ANNUALLY. 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.