Civic Intelligence

Bin SBA Loan Inc.

990 • Fiscal year 2020 • EIN 81-4001005

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 02, 2022

Organization ProfileN/A
1437 S Jackson St No 201Seattle, WA 98144

(206) 324-4330

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.80x

Higher debt load relative to assets than 91% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

16.13x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

16th percentile

-22%

Higher net margin than 16% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

56th percentile

9.5%

Faster asset growth than 56% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

23rd percentile

-24%

Faster revenue growth than 23% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$780,928

Up $67,900 (+9.5%) from 2019

Net Assets

Up

$154,430

Up $122,167 (+379%) from 2019

Liabilities

Down

$626,498

Down $54,267 (-8.0%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin16th percentile

Revenue

Down

$38,836

Down $12,437 (-24%) from 2019

Expenses

Down

$47,253

Down $79,254 (-63%) from 2019

Net Income

Up

-$8,417

Up $66,817 (+89%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0-$500KAssets 2016: $869,798Liabilities 2016: $843,559Net Assets 2016: $26,2392016Assets 2017: $757,741Liabilities 2017: $790,126Net Assets 2017: -$32,3852017Assets 2018: $713,536Liabilities 2018: $735,713Net Assets 2018: -$22,1772018Assets 2019: $713,028Liabilities 2019: $680,765Net Assets 2019: $32,2632019Assets 2020: $780,928Liabilities 2020: $626,498Net Assets 2020: $154,4302020Assets 2021: $719,447Liabilities 2021: $570,260Net Assets 2021: $149,1872021Assets 2022: $581,182Liabilities 2022: $512,352Net Assets 2022: $68,8302022Assets 2023: $413,537Liabilities 2023: $456,467Net Assets 2023: -$42,9302023Assets 2024: $455,397Liabilities 2024: $400,581Net Assets 2024: $54,8162024

Highlighted filing

2020

Assets$780,928
Liabilities$626,498
Net Assets$154,430
Open 2020 Filing

Operations Trend

Revenue Growth23rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200K$100K$0-$100KRevenue 2016: $13,185Expenses 2016: $47,166Net Income 2016: -$33,9812016Revenue 2017: $47,095Expenses 2017: $105,719Net Income 2017: -$58,6242017Revenue 2018: $56,880Expenses 2018: $152,421Net Income 2018: -$95,5412018Revenue 2019: $51,273Expenses 2019: $126,507Net Income 2019: -$75,2342019Revenue 2020: $38,836Expenses 2020: $47,253Net Income 2020: -$8,4172020Revenue 2021: $34,533Expenses 2021: $82,042Net Income 2021: -$47,5092021Revenue 2022: $19,801Expenses 2022: $65,312Net Income 2022: -$45,5112022Revenue 2023: $31,428Expenses 2023: $643Net Income 2023: $30,7852023Revenue 2024: $98,556Expenses 2024: $810Net Income 2024: $97,7462024

Highlighted filing

2020

Revenue$38,836
Expenses$47,253
Net Income-$8,417
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 2, 2022
Return Version
2020v4.2
Gross Receipts
$38,836
Mission and Program Overview

Mission

Business impact nw grows businesses that create jobs in underserved communities.

Business impact nw grows business that create jobs in underserved communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$444,646$524,809▲ $80,163
Accounts Receivable$266,041$252,202▼ $13,839
Total Assets$713,028$780,928▲ $67,900
Other Assets Total$2,341$3,917▲ $1,576
Liabilities
Mortgage Notes Payable Secured by Investment Property$678,523$623,631▼ $54,892
Accounts Payable and Accrued Expenses$2,242$2,867▲ $625
Total Liabilities$680,765$626,498▼ $54,267
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$32,263$154,430▲ $122,167
Total Net Assets Fund Balance$32,263$154,430▲ $122,167
Total Liabilities and Net Assets / Fund Balance$713,028$780,928▲ $67,900
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Phil JonesPresident/CEO
Heyward WatsonDirector
Jessica EnziDirector
John ZmolekDirector
Kellen BallDirector
Krisina MaritczakDirector
Lorri WallaceDirector
Marcus HarjaniDirector
Munzer SukhunDirector
Peter HaDirector
Tom BerquistDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$38,557
Investment Income
$0
Other Revenue
$279
Change in Net Assets
$-8,417
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$26,018
Other Expenses$21,235
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$21,856--$21,856
Interest$6,509--$6,509
Information Technology-$5,436-$5,436
Fees for Services Accounting-$4,276-$4,276
Office Expenses-$3,041-$3,041
Payroll Taxes$2,322--$2,322
Other Employee Benefits$1,840--$1,840
Insurance$409--$409
Fees for Services Other-$325-$325
Advertising$209--$209
Other Expenses$130--$130
Travel$31--$31
All Other Expenses$-3,626--$-3,626
Total Functional Expenses$34,175$13,078$0$47,253
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the ceo before it is filed with the irs; all board members are given a copy of the 990 before filing.”

Form 990, Part VI, Section B, Line 12

“The corporation does not have conflict of interest policy that is in effect.”

Form 990, Part VI, Section B, Line 15

“Salary decisions for the ceo are made by the full board and salary decisions for 100% of the management team and officers are made by the ceo.”

Form 990, Part VI, Section C, Line 19

“The organization makes its form 1023 and 990 available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Bin Sba Loan
EIN
81-4001005
Phone
2063244330
Address
1437 S JACKSON ST NO 201, SEATTLE, WA 98144

Signing Officer

Name
Joe Sky-tucker
Title
President/CEO
Phone
2063244330
Signed
2022-06-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joe Sky-tucker
Formed
2016
Legal Domicile
Wa
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
Hauser Jones & Sas Pllc
Address
10940 NE 33RD PLACE SUITE 100, BELLEVUE, WA 98004
Preparer
Roger a Jones CPA
Phone
4258891778
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in unrestricted net assets 130,584.”

Raw XML Appendix382 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISC INCOME - 2016 AMOUNT: $ 11. 2017 AMOUNT: $ 278. 2018 AMOUNT: $ 387. 2019 AMOUNT: $ 311. 2020 AMOUNT: $ 279.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE CEO BEFORE IT IS FILED WITH THE IRS; ALL BOARD MEMBERS ARE GIVEN A COPY OF THE 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION DOES NOT HAVE CONFLICT OF INTEREST POLICY THAT IS IN EFFECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARY DECISIONS FOR THE CEO ARE MADE BY THE FULL BOARD AND SALARY DECISIONS FOR 100% OF THE MANAGEMENT TEAM AND OFFICERS ARE MADE BY THE CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS FORM 1023 AND 990 AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CHANGE IN UNRESTRICTED NET ASSETS 130,584.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
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IRS990/SignificantChangeInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt038836
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReasonableCauseExplanation/ExplanationTxt0BIN SBA LOAN IS REQUESTING ABATEMENT OF PENALTIES ASSOCIATED WITH LATE ELECTRONIC FILING OF THEIR 2020 FORM 990. BIN SBA LOAN RECENTLY RECEIVED A NOTICE FROM THE IRS (ENCLOSED) STATING THAT THE PAPER FILED FORM 990 COULD NOT BE PROCESSED AND MUST BE ELECTRONICALLY FILED. ABATEMENT OF PENALTIES FOR LATE FILING ARE BEING REQUESTED UNDER REASONABLE CAUSE FOR LATE FILING, DUE TO THE FOLLOWING CIRCUMSTANCES:BIN SBA LOAN RECEIVED A NOTICE OF AUTOMATIC REVOCATION OF THEIR TAX-EXEMPT STATUS FROM THE IRS IN NOTICE CP120A DATED AUGUST 19,2019 (ENCLOSED). THE TAXPAYER DID NOT UNDERSTAND THEIR FILING REQUIREMENTS FOR THE ANNUAL INFORMATION RETURNS, AND THEREFORE DID NOT FILE FOR THREE CONSECUTIVE YEARS, CAUSING THE REVOCATION.IN ORDER TO REINSTATE BIN SBA LOAN'S TAX-EXEMPT STATUS, A FORM 1023 WAS FILED TO REQUEST RETROACTIVE REINSTATEMENT, AND TAX RETURNS FOR THE YEARS 2016, 2017, 2018 AND 2019 WERE PROPERLY FILED. THE IRS SUBSEQUENTLY APPROVED BIN SBA LOAN'S REQUEST FOR RETROACTIVE REINSTATEMENT DATED 8/11/21 (ENCLOSED).HOWEVER, EVEN THOUGH THE RETROACTIVE REINSTATEMENT HAD BEEN APPROVED, IN BIN SBA LOAN'S ATTEMPT TO ELECTRONICALLY FILE THEIR 2020 FORM 990 THE FILING WAS REJECTED BY THE IRS E-FILE SYSTEM. SEE ENCLOSED REJECTION NOTIFICATION. THE REASONING LISTED FOR THE REJECTION WAS THAT THE EIN WAS NO LONGER ESTABLISHED AS AN EXEMPT ORGANIZATION. IN RESPONSE TO THE REJECTION BY THE IRS SYSTEM, THE 2020 FORM 990 FOR BIN SBA LOAN WAS SENT VIA CERTIFIED MAIL ON NOVEMBER 12, 2021 TO THE IRS TO ENSURE THAT IT WAS TIMELY FILED. SEE ENCLOSED CERTIFIED MAILING RECEIPT FOR THE PAPER FILED RETURN.IN CONCLUSION, BIN SBA LOAN RESPECTFULLY REQUESTS PENALTY ABATEMENT DUE TO REASONABLE CAUSE FOR THE LATE ELECTRONIC FILING OF THEIR 2020 FORM 990.
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-06-02
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ReturnHeader/Filer/BusinessNameControlTxt0BINS
ReturnHeader/Filer/EIN0814001005
ReturnHeader/Filer/PhoneNum02063244330
ReturnHeader/Filer/USAddress/AddressLine1Txt01437 S JACKSON ST NO 201
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010940 NE 33RD PLACE SUITE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BELLEVUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd098004
ReturnHeader/PreparerPersonGrp/PhoneNum04258891778
ReturnHeader/PreparerPersonGrp/PreparationDt02022-06-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROGER A JONES CPA
ReturnHeader/ReturnTs02022-06-02T16:08:15-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SKY-TUCKER
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$780,928
Liabilities
$626,498
Net assets
$154,430
Revenue
$38,836
Expenses
$47,253
Net income
-$8,417
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.55$4.01$0.55$0.99$0.01$0.98
2023Detailed filing. Detailed filing data is available for this year.$4.14$4.56$0.43$0.31$0.01$0.31
2022Detailed filing. Detailed filing data is available for this year.$5.81$5.12$0.69$0.20$0.65$0.46
2021Detailed filing. Detailed filing data is available for this year.$7.19$5.70$1.49$0.35$0.82$0.48
2020Detailed filing. Detailed filing data is available for this year.$7.81$6.26$1.54$0.39$0.47$0.08
2019Summary only. Only limited summary data is available for this year.$7.13$6.81$0.32$0.51$1.27$0.75
2018Summary only. Only limited summary data is available for this year.$7.14$7.36$0.22$0.57$1.52$0.96
2017Summary only. Only limited summary data is available for this year.$7.58$7.90$0.32$0.47$1.06$0.59
2016Summary only. Only limited summary data is available for this year.$8.70$8.44$0.26$0.13$0.47$0.34