Civic Intelligence

Boulder SBDC Foundation

990 • Fiscal year 2020 • EIN 83-2726814

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

1001 Arapahoe AveBoulder, CO 80302

(720) 207-4303

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

Higher debt load relative to assets than 33% of similar nonprofits.

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

Liabilities / Revenue

29th percentile

0.00x

Higher debt load relative to revenue than 29% of similar nonprofits.

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

Net Margin

28th percentile

-5.9%

Higher net margin than 28% of similar nonprofits.

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

Top Officer Pay

92nd percentile

$125,473

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 16.4% of source-year revenue.

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

Asset Growth

9th percentile

-14%

Faster asset growth than 9% of similar nonprofits.

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

Revenue Growth

33rd percentile

-14%

Faster revenue growth than 33% of similar nonprofits.

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

Assets

Down

$288,816

Down $45,260 (-14%) from 2019

Net Assets

Down

$287,915

Down $45,042 (-14%) from 2019

Liabilities

Down

$901

Down $218 (-19%) from 2019

Revenue

Down

$766,026

Down $120,828 (-14%) from 2019

Expenses

Up

$811,068

Up $21,933 (+2.8%) from 2019

Net Income

Down

-$45,042

Down $142,761 (-146%) from 2019

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2019: $334,076Liabilities 2019: $1,119Net Assets 2019: $332,9572019Assets 2020: $288,816Liabilities 2020: $901Net Assets 2020: $287,9152020Assets 2021: $416,697Liabilities 2021: $527Net Assets 2021: $416,1702021Assets 2022: $445,193Liabilities 2022: $838Net Assets 2022: $444,3552022Assets 2023: $289,783Liabilities 2023: $3,952Net Assets 2023: $285,8312023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2020

Assets$288,816
Liabilities$901
Net Assets$287,915

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2019: $886,854Expenses 2019: $789,135Net Income 2019: $97,7192019Revenue 2020: $766,026Expenses 2020: $811,068Net Income 2020: -$45,0422020Revenue 2021: $1,070,102Expenses 2021: $941,847Net Income 2021: $128,2552021Revenue 2022: $1,132,021Expenses 2022: $1,103,836Net Income 2022: $28,1852022Revenue 2023: $1,164,546Expenses 2023: $1,323,070Net Income 2023: -$158,5242023Revenue 2024: $835,928Expenses 2024: $542,975Net Income 2024: $292,9532024

Highlighted filing

2020

Revenue$766,026
Expenses$811,068
Net Income-$45,042
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$766,026
Mission and Program Overview

Mission

Boulder Small Business Development Center (SBDC) is a hands-on, economic development and business assistance nonprofit whose mission is to support the growth and resiliency of small businesses in Boulder County by providing free business consulting, practical workshops & events and connection to resources, including financing. The SBDC helps all types of small businesses - from startups through 2nd stage, from Main Street through highly scalable technology ventures.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$309,123$285,735▼ $23,388
Cash and Non-Interest-Bearing Accounts$24,953$3,081▼ $21,872
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$334,076$288,816▼ $45,260
Other Assets Total-$0-
Liabilities
Other Liabilities$1,119$901▼ $218
Total Liabilities$1,119$901▼ $218
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$328,257$287,915▼ $40,342
Net Assets With Donor Restrictions$4,700--
Total Net Assets Fund Balance$332,957$287,915▼ $45,042
Total Liabilities and Net Assets / Fund Balance$334,076$288,816▼ $45,260
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sharon KingExec. DirectorFT$120,951$4,522$125,473
Suzann BahnsenAssistant DirectorFT$85,840$10,482$96,322
Jamie BrandessProgram DirectorFT$61,560$8,790$70,350
Rachel GarciaProgram DirectorFT$54,000$8,327$62,327

Board Members and Trustees

NameTitle
Carrie SchiffDirector
Joey JenkinsDirector
William F Jones JrDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$760,498
Program Service Revenue
$5,490
Investment Income
$38
Other Revenue
$0
All Other Contributions
$263,887
Change in Net Assets
$-45,042
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$423,096
Salaries, Compensation, and Employee Benefits$387,972
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$335,692$18,780-$354,472
Fees for Services Other$328,176$7,632-$335,808
Advertising$37,631--$37,631
Payroll Taxes$24,084$2,896-$26,980
Fees for Services Accounting-$22,210-$22,210
Information Technology$3,932$6,488-$10,420
Other Salaries and Wages$6,520--$6,520
Insurance$4,965--$4,965
Office Expenses$923$3,344-$4,267
All Other Expenses$524$364-$888
Other Expenses$1,126$865-$865
Travel$762--$762
Total Functional Expenses$748,481$62,587$0$811,068
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-DirectorCFO & Tax ServicesNo$22,210

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit card payable$901
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Executive Director is responsible for staff compensaiton decissions. Board of directors reviews and approves compansation of Executive Director.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Executive Director is responsible for staff compensaiton decissions.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Boulder SBDC Foundation
EIN
83-2726814
Phone
7202074303
Address
1001 Arapahoe Ave, Boulder, CO 80302

Signing Officer

Name
Sharon King
Title
Executive Director
Phone
7202074303
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sharon King
Formed
2019
Legal Domicile
Co
Voting Board Members
4
Independent Board Members
0
Employees
5

Preparer

Firm
Jones & Associates CPAs PC
Address
947 Pope Drive, Erie, CO 80516
Preparer
W F Jones Jr CPA
Phone
3032546613
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2: New Services

COVID-19 Assistance for Boulder County Small Businesses

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: COVID-19 Assistance for Boulder County Small BusinessesProvides assistance to small businesses in Boulder County to overcome the negative impacts of the pandemic on their businesses. Starting on March 13, 2020, the Center pulled together its staff, its contract consultants and presenters and its Board Members to plan immediate and longer-term, response to the needs of the small businesses in our communities. The Center team worked with its strategic partners on the local, state and national levels (county and municipalities, Chambers, economic development and industry organizations, all funding resources) to collaborate and minimize duplicate efforts, all in support of our small businesses. COVID Relief Consulting Assistance - The Center built a team of 12 consultants (4 Spanish-speaking) plus our Center staff (4) to assist with 1)navigating the CARES Act and other state and local Grant/Loan Relief programs, 2) to understand Colorado unemployment options for their employees (as they made decisions about layoffs) and 3)to find ways to keep their business solvent during the pandemic (reducing financial costs and increasing revenue sources), in addition to just being a sounding board to relieve the stress of the impact of the pandemic. Programs - The Center produced many virtual workshops and business trainings. Weekly online webinars were produced in order to communicate the latest information and resources. Over 3,000 people signed up for the 27 sessions of the "Keeping Your Business Together in a Crisis" Series. In addition, the SBDC adapted into bilingual (Spanish/English) programs to match the immediate needs of our underserved businesses and entrepreneurs.

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IRS990/MissionDesc0Boulder Small Business Development Center (SBDC) is a hands-on, economic development and business assistance nonprofit whose mission is to support the growth and resiliency of small businesses in Boulder County by providing free business consulting, practical workshops & events and connection to resources, including financing. The SBDC helps all types of small businesses - from startups through 2nd stage, from Main Street through highly scalable technology ventures.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Colorado Emerging VenturesColorado Emerging Ventures (CEV) is a targeted consulting and education program developed to assist scalable pre- and post-revenue businesses that are poised for high growth - including biotech, IT, aerospace, cleantech, outdoor and natural products and other key industries. CEVs signature program is the Tech Venture Accelerator (TVX), a cohort program to help accelerate the growth and development of Boulders science & technology businesses.Different from other accelerators and incubators, the focus is on non-dilutive capital sources for small innovative businesses (where the company does not give up ownership), including SBIR/STTR grants, federal R&D tax credits and support for technology commercialization to get to market faster. After piloting CEV/TVX locally for several years, the program expanded statewide as the Colorado SBDC TechSource. It supports the launch and growth of Colorado science and technology ventures-startup through second stage-with specialized consulting, accelerator programs, workshops and events - with special focus on underserved communities.
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IRS990/ProgSrvcAccomActy3Grp/Desc0COVID-19 Assistance for Boulder County Small BusinessesProvides assistance to small businesses in Boulder County to overcome the negative impacts of the pandemic on their businesses. Starting on March 13, 2020, the Center pulled together its staff, its contract consultants and presenters and its Board Members to plan immediate and longer-term, response to the needs of the small businesses in our communities. The Center team worked with its strategic partners on the local, state and national levels (county and municipalities, Chambers, economic development and industry organizations, all funding resources) to collaborate and minimize duplicate efforts, all in support of our small businesses. COVID Relief Consulting Assistance - The Center built a team of 12 consultants (4 Spanish-speaking) plus our Center staff (4) to assist with 1)navigating the CARES Act and other state and local Grant/Loan Relief programs, 2) to understand Colorado unemployment options for their employees (as they made decisions about layoffs) and 3)to find ways to keep their business solvent during the pandemic (reducing financial costs and increasing revenue sources), in addition to just being a sounding board to relieve the stress of the impact of the pandemic. Programs - The Center produced many virtual workshops and business trainings. Weekly online webinars were produced in order to communicate the latest information and resources. Over 3,000 people signed up for the 27 sessions of the "Keeping Your Business Together in a Crisis" Series. In addition, the SBDC adapted into bilingual (Spanish/English) programs to match the immediate needs of our underserved businesses and entrepreneurs.
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0William F. Jones, Jr., CPA, CGMA is a Board Member/Director for the Boulder SBDC Foundation and is also Principal of Jones & Associates, P.C. Boulder SBDC had conversations with three potential vendors to provide accounting services. All were reviewed and compared. One company was higher priced than the other two and was rejected. The Jones & Associates proposal came in at the same cost as the incumbent vendors pricing. Because there had been service issues with the incumbent vendor, their ranking was lowered. These factors, and because of his knowledge of the SBDC network and its government contract requirements, and because of Jones & Associates experience with non-profits, they were selected. To ensure that the relationship continues at arms length and that the Foundation pays no more than fair market value, an RFP will be issued every three years to at least three vendors, staff will review the responses and the Board will vote on approval or continued search.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COVID-19 Assistance for Boulder County Small Businesses
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OTHER PROGRAM SERVICES 4: COVID-19 Assistance for Boulder County Small BusinessesProvides assistance to small businesses in Boulder County to overcome the negative impacts of the pandemic on their businesses. Starting on March 13, 2020, the Center pulled together its staff, its contract consultants and presenters and its Board Members to plan immediate and longer-term, response to the needs of the small businesses in our communities. The Center team worked with its strategic partners on the local, state and national levels (county and municipalities, Chambers, economic development and industry organizations, all funding resources) to collaborate and minimize duplicate efforts, all in support of our small businesses. COVID Relief Consulting Assistance - The Center built a team of 12 consultants (4 Spanish-speaking) plus our Center staff (4) to assist with 1)navigating the CARES Act and other state and local Grant/Loan Relief programs, 2) to understand Colorado unemployment options for their employees (as they made decisions about layoffs) and 3)to find ways to keep their business solvent during the pandemic (reducing financial costs and increasing revenue sources), in addition to just being a sounding board to relieve the stress of the impact of the pandemic. Programs - The Center produced many virtual workshops and business trainings. Weekly online webinars were produced in order to communicate the latest information and resources. Over 3,000 people signed up for the 27 sessions of the "Keeping Your Business Together in a Crisis" Series. In addition, the SBDC adapted into bilingual (Spanish/English) programs to match the immediate needs of our underserved businesses and entrepreneurs.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Executive Director is responsible for staff compensaiton decissions. Board of directors reviews and approves compansation of Executive Director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Executive Director is responsible for staff compensaiton decissions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 2: New Services
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part III, Line 4d: Other Program Services Description
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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