Civic Intelligence

Cobiz Richmond Inc.

990 • Fiscal year 2020 • EIN 84-2956832

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 16, 2023

Organization ProfileWWW.COBIZRICHMOND.COM
1503 Macdonald Ave Ste Ste ARichmond, CA 94801

(510) 309-7107

Siviq Scores

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

Liabilities / Assets

88th percentile

0.66x

Higher debt load relative to assets than 88% of similar nonprofits.

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

Liabilities / Revenue

87th percentile

0.73x

Higher debt load relative to revenue than 87% of similar nonprofits.

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

Net Margin

79th percentile

29%

Higher net margin than 79% 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

99th percentile

1303%

Faster asset growth than 99% of similar nonprofits.

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

Revenue Growth

99th percentile

539%

Faster revenue growth than 99% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$689,118

Up $633,908 (+1148%) from 2019

Net Assets

Up

$165,255

Up $110,045 (+199%) from 2019

Liabilities

$523,863

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin79th percentile

Revenue

Up

$596,528

Up $487,467 (+447%) from 2019

Expenses

Up

$494,180

Up $440,329 (+818%) from 2019

Net Income

Up

$102,348

Up $47,138 (+85%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$1.0M$500K$0-$500KAssets 2019: $55,210Net Assets 2019: $55,2102019Assets 2020: $774,544Liabilities 2020: $508,268Net Assets 2020: $266,2762020Assets 2020: $689,118Liabilities 2020: $523,863Net Assets 2020: $165,2552020Assets 2021: $437,785Liabilities 2021: $139,719Net Assets 2021: $298,0662021Assets 2022: $136,740Liabilities 2022: $151,339Net Assets 2022: -$14,5992022Assets 2023: $143,496Liabilities 2023: $170,053Net Assets 2023: -$26,5572023Assets 2024: $180,718Liabilities 2024: $169,693Net Assets 2024: $11,0252024

Highlighted filing

2020

Assets$689,118
Liabilities$523,863
Net Assets$165,255
Open 2020 Filing

Operations Trend

Revenue Growth99th percentile

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

$1.0M$500K$0-$500KRevenue 2019: $109,061Expenses 2019: $53,851Net Income 2019: $55,2102019Revenue 2020: $696,966Expenses 2020: $494,167Net Income 2020: $202,7992020Revenue 2020: $596,528Expenses 2020: $494,180Net Income 2020: $102,3482020Revenue 2021: $787,520Expenses 2021: $755,525Net Income 2021: $31,9952021Revenue 2022: $563,616Expenses 2022: $622,803Net Income 2022: -$59,1872022Revenue 2023: $610,382Expenses 2023: $622,340Net Income 2023: -$11,9582023Revenue 2024: $928,989Expenses 2024: $891,407Net Income 2024: $37,5822024

Highlighted filing

2020

Revenue$596,528
Expenses$494,180
Net Income$102,348
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 16, 2023
Return Version
2020v4.1
Gross Receipts
$596,528
Mission and Program Overview

Mission

To create an entrepreneurial hub to foster a culture of innovation, collaboration, and entrepreneurship between individuals and tri-sector stakeholders with the intent to drive sustainable economic development and revitalization of downtown and greater richmond, california

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$55,210$664,385▲ $609,175
Rtn Earn Endowment Incm Other Fnds$55,210$165,255▲ $110,045
Accounts Receivable-$24,733-
Total Assets$55,210$689,118▲ $633,908
Liabilities
Other Liabilities-$389,763-
Unsecured Notes Loans Payable-$134,100-
Total Liabilities$0$523,863▲ $523,863
Net Assets / Fund Balance
Total Net Assets Fund Balance$55,210$165,255▲ $110,045
Total Liabilities and Net Assets / Fund Balance$55,210$689,118▲ $633,908
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Bret SweetVice President
James LeeDirector
Wesley AlexanderCEO
Lily RahnemaSecretary
Michael MartinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$494,167
Program Service Revenue
$81,291
Investment Income
$270
Other Revenue
$20,800
All Other Contributions
$494,167
Change in Net Assets
$102,348
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$264,108
Salaries, Compensation, and Employee Benefits$230,072
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$96,000$24,000-$120,000
Occupancy$75,695$18,924-$94,619
Other Salaries and Wages$73,814$18,453-$92,267
Information Technology$34,822$8,705-$43,527
Fees for Services Other$39,344$2,889-$42,233
Advertising-$18,882-$18,882
Payroll Taxes$14,244$3,561-$17,805
Other Expenses$5,061$1,265-$6,326
All Other Expenses$5,096$1,040-$6,136
Insurance$4,586$1,147-$5,733
Office Expenses$1,466$366-$1,832
Total Functional Expenses$373,054$121,126$0$494,180
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
Yes
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
No
Other officer compensation reviewed
No
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 governing body review Part VI line 11

“A copy of the form 990 was provided to the officers and directors for review and comment prior to filing.”

Conflict of interest policy compliance Part VI line 12C

“Upon engagement, election, or hiring, directors, officers, and key employees agree to comply with the conflict of interest policy and to disclose any conflicts of interest, which are then handled in accordance with the conflict of interest policy.”

Governing documents etc available to public Part VI line 19

“Other organizational documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Cobiz Richmond Inc
EIN
84-2956832
Address
1503 MACDONALD AVE STE STE A, RICHMOND, CA 94801

Signing Officer

Name
Wesley Alexander
Title
Officer
Phone
5103097107
Signed
2023-06-16
Discuss with paid preparer
No

Organization Details

Formed
2019
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
2
Employees
2

Preparer

Firm
Terence J Romney CPA PLLC
Address
6464 Savoy Dr Suite 740, Houston, TX 77036
Preparer
Terence Romney
Phone
7132780023
Supplemental Narrative

Additional Explanations

Amended return information

“Original return income was overstated”

Other or change in accounting method Part XII line 1

“2019 form 990ez indicated cash accounting method by mistake and should have indicated accrual. No material impact to revenue and expenses.”

Raw XML Appendix365 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORIGINAL RETURN INCOME WAS OVERSTATED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 WAS PROVIDED TO THE OFFICERS AND DIRECTORS FOR REVIEW AND COMMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON ENGAGEMENT, ELECTION, OR HIRING, DIRECTORS, OFFICERS, AND KEY EMPLOYEES AGREE TO COMPLY WITH THE CONFLICT OF INTEREST POLICY AND TO DISCLOSE ANY CONFLICTS OF INTEREST, WHICH ARE THEN HANDLED IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER ORGANIZATIONAL DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt42019 FORM 990EZ INDICATED CASH ACCOUNTING METHOD BY MISTAKE AND SHOULD HAVE INDICATED ACCRUAL. NO MATERIAL IMPACT TO REVENUE AND EXPENSES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Amended return information
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other or change in accounting method Part XII line 1
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$689,118
Liabilities
$523,863
Net assets
$165,255
Revenue
$596,528
Expenses
$494,180
Net income
$102,348
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.81$1.70$0.11$9.29$8.91$0.38
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.43$1.70$0.27$6.10$6.22$0.12
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$1.51$0.15$5.64$6.23$0.59
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.38$1.40$2.98$7.88$7.56$0.32
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.75$5.08$2.66$6.97$4.94$2.03
2020Detailed filing. Detailed filing data is available for this year.$6.89$5.24$1.65$5.97$4.94$1.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.55$0.55$1.09$0.54$0.55