Civic Intelligence

Boulder SBDC Foundation

990 • Fiscal year 2021 • EIN 83-2726814

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

1500 Pearl Street Suite 302Boulder, CO 80302

(303) 442-1475

Siviq Scores

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

Liabilities / Assets

21st percentile

0.00x

Higher debt load relative to assets than 21% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

18th percentile

0.00x

Higher debt load relative to revenue than 18% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

49th percentile

12%

Higher net margin than 49% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

76th percentile

$115,921

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 10.8% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

84th percentile

44%

Faster asset growth than 84% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

72nd percentile

40%

Faster revenue growth than 72% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$416,697

Up $127,881 (+44%) from 2020

Net Assets

Up

$416,170

Up $128,255 (+45%) from 2020

Liabilities

Down

$527

Down $374 (-42%) from 2020

Revenue

Up

$1,070,102

Up $304,076 (+40%) from 2020

Expenses

Up

$941,847

Up $130,779 (+16%) from 2020

Net Income

Up

$128,255

Up $173,297 (+385%) from 2020

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

2021

Assets$416,697
Liabilities$527
Net Assets$416,170

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

2021

Revenue$1,070,102
Expenses$941,847
Net Income$128,255
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.0
Gross Receipts
$1,070,102
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$285,735$414,338▲ $128,603
Cash and Non-Interest-Bearing Accounts$3,081$2,359▼ $722
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$288,816$416,697▲ $127,881
Other Assets Total-$0-
Liabilities
Other Liabilities$901$527▼ $374
Total Liabilities$901$527▼ $374
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$287,915$416,170▲ $128,255
Total Net Assets Fund Balance$287,915$416,170▲ $128,255
Total Liabilities and Net Assets / Fund Balance$288,816$416,697▲ $127,881
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sharon KingExec. DirectorFT$110,023$5,898$115,921
Jamie BrandessProgram DirectorFT$66,608$3,718$70,326
Rachel GarciaProgram DirectorFT$70,079-$70,079
Suzann BahnsenAssistant DirectorFT$8,597$462$9,059

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,069,435
Program Service Revenue
$620
Investment Income
$47
Other Revenue
$0
All Other Contributions
$365,183
Change in Net Assets
$128,255
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$540,348
Salaries, Compensation, and Employee Benefits$401,499
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$438,355$4,730-$443,085
Current Officers, Directors, Trustees, and Key Employees$221,177$44,208-$265,385
Other Salaries and Wages$69,539--$69,539
Advertising$39,751--$39,751
Other Employee Benefits$36,250$3,403-$39,653
Payroll Taxes$23,267$3,655-$26,922
Fees for Services Accounting-$19,530-$19,530
Information Technology$13,567$4,434-$18,001
Insurance$5,825--$5,825
Office Expenses$1,133$1,806-$2,939
All Other Expenses$855$308-$1,163
Other Expenses$750$2,596-$750
Total Functional Expenses$856,637$85,210$0$941,847
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

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$527
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
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
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
3034421475
Address
1500 Pearl Street Suite 302, Boulder, CO 80302

Signing Officer

Name
Sharon King
Title
Executive Director
Phone
7202074303
Signed
2022-11-15
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
6

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 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. Boulder County Small Business Funding Opportunities - The Center developed and maintains a webpage of current funding sources for small businesses. The sources include Federal, State, County, Municipal, Alternative Sources, and In-Kind Assistance programs. The information for the funding sources is made available in both English and Spanish to meet the needs of our underrepresented business and entrepreneur communities.

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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. Boulder County Small Business Funding Opportunities - The Center developed and maintains a webpage of current funding sources for small businesses. The sources include Federal, State, County, Municipal, Alternative Sources, and In-Kind Assistance programs. The information for the funding sources is made available in both English and Spanish to meet the needs of our underrepresented business and entrepreneur communities.
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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/ExplanationTxt0OTHER 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. Boulder County Small Business Funding Opportunities - The Center developed and maintains a webpage of current funding sources for small businesses. The sources include Federal, State, County, Municipal, Alternative Sources, and In-Kind Assistance programs. The information for the funding sources is made available in both English and Spanish to meet the needs of our underrepresented business and entrepreneur communities.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Executive Director is responsible for staff compensaiton decissions. Board of directors reviews and approves compansation of Executive Director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Executive Director is responsible for staff compensaiton decissions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d: Other Program Services Description
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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