Civic Intelligence

Bside Fund

990 • Fiscal year 2023 • EIN 84-3382379

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 12, 2024

Organization ProfileWWW.BSIDEFUND.ORG
3350 Brighton Blvd Suite 235Denver, CO 80216

(303) 657-0010

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.85x

Higher debt load relative to assets than 92% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

90th percentile

1.30x

Higher debt load relative to revenue than 90% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

80th percentile

27%

Higher net margin than 80% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

96th percentile

$358,049

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 27.6% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

96th percentile

157%

Faster asset growth than 96% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

97th percentile

381%

Faster revenue growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$1,999,261

Up $1,220,361 (+157%) from 2022

Net Assets

Up

$306,749

Up $349,012 (+826%) from 2022

Liabilities

Up

$1,692,512

Up $871,349 (+106%) from 2022

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin80th percentile

Revenue

Up

$1,297,055

Up $1,027,451 (+381%) from 2022

Expenses

Up

$948,043

Up $561,254 (+145%) from 2022

Net Income

Up

$349,012

Up $466,197 (+398%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2020: $5,320,099Liabilities 2020: $5,294,299Net Assets 2020: $25,8002020Assets 2021: $919,428Liabilities 2021: $844,506Net Assets 2021: $74,9222021Assets 2022: $778,900Liabilities 2022: $821,163Net Assets 2022: -$42,2632022Assets 2023: $1,999,261Liabilities 2023: $1,692,512Net Assets 2023: $306,7492023Assets 2024: $3,120,143Liabilities 2024: $2,692,120Net Assets 2024: $428,0232024

Highlighted filing

2023

Assets$1,999,261
Liabilities$1,692,512
Net Assets$306,749
Open 2023 Filing

Operations Trend

Revenue Growth97th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2020: $118,664Expenses 2020: $92,864Net Income 2020: $25,8002020Revenue 2021: $47,560Expenses 2021: -$1,562Net Income 2021: $49,1222021Revenue 2022: $269,604Expenses 2022: $386,789Net Income 2022: -$117,1852022Revenue 2023: $1,297,055Expenses 2023: $948,043Net Income 2023: $349,0122023Revenue 2024: $421,663Expenses 2024: $534,346Net Income 2024: -$112,6832024

Highlighted filing

2023

Revenue$1,297,055
Expenses$948,043
Net Income$349,012
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 12, 2024
Return Version
2023v5.1
Gross Receipts
$1,297,055
Mission and Program Overview

Mission

To stimulate and promote community prosperity and economic welfare through lending, business support services, advice, education, technical assistance, and any other appropriate means, to promote, encourage and enhance the creation, improvement and expansion of small businesses creating sustainable, living-wage jobs and located in distressed urban and rural areas, and/or operated by underserved, unemployed and underemployed populations including but not limited to startup, woman-owned, minority-owned, rural-based and veteran-owned businesses.

To promote economic development in and foster economic growth of diverse small businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$266,431$1,127,094▲ $860,663
Other Notes and Loans Receivable, Net$470,857$865,410▲ $394,553
Prepaid Expenses and Deferred Charges$15,509--
Accounts Receivable$26,103$6,757▼ $19,346
Total Assets$778,900$1,999,261▲ $1,220,361
Liabilities
Other Liabilities$502,769$1,375,968▲ $873,199
Unsecured Notes Loans Payable$312,689$303,505▼ $9,184
Deferred Revenue$0$13,039▲ $13,039
Accounts Payable and Accrued Expenses$5,705--
Total Liabilities$821,163$1,692,512▲ $871,349
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-109,184$193,591▲ $302,775
Net Assets With Donor Restrictions$66,921$113,158▲ $46,237
Total Net Assets Fund Balance$-42,263$306,749▲ $349,012
Total Liabilities and Net Assets / Fund Balance$778,900$1,999,261▲ $1,220,361
Compensation and Service Providers
Top Officer Pay96th percentile

Board Members and Trustees

NameTitle
Tom FrancisPast President
Daniel RyleyPresident
Luke DavidsonVice President
Adam KinneyBoard Member
Dre ThompsonBoard Member
Jill MendozaBoard Member
Joel KromingaBoard Member
Kathe MehlbachBoard Member
Kyle SickmanBoard Member
Matthew BrunkowBoard Member
Ryan FlandersBoard Member
Sam BaileyBoard Member
Todd GuymonBoard Member
Jessen PerkoBoard Member (thru 01/23)
Christopher MyersChief Executive Officer
Karol JonesChief Financial Officer
Laurel WalkChief Operating Officer
Amy HillmanSecretary
Susana SalamunTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,204,431
Program Service Revenue
$0
Investment Income
$91,473
Other Revenue
$1,151
All Other Contributions
$2,500
Change in Net Assets
$349,012
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$613,350
Grants and Similar Amounts Paid$334,693
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$409,973--$409,973
Grants to Domestic Individuals$334,693--$334,693
Other Expenses$133,253--$133,253
Advertising$42,601--$42,601
Fees for Services Other$20,000--$20,000
Insurance$6,654--$6,654
Office Expenses-$869-$869
Total Functional Expenses$947,174$869$0$948,043
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Cslf Loan Capital$1,000,000
Due to Bside Capital$360,915
Cslf Grant Capital$11,532
Cdfi Ta$3,521
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

“The organization made the following changes to their bylaws: - the ceo, cfo, and coo are now recognized as officers of the organization. - the maximum board term is extended if required with a member of the board serves in an officer role. -officer descriptions for president and treasurer to reflect current responsibilities and interaction with ceo and cfo”

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

“The form 990 is reviewed by the cfo and then board members are provided a copy of the 990 before it is filed.”

Form 990, Part VI, Section B, Line 12C

“Board members sign a confidentiality/conflict of interest agreement at the start of each new year acknowledging, inter alia, that any real or apparent conflicts of interest be immediately disclosed in writing to the president of the board of directors.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy, and financial statements are available from the chief executive officer upon request”

Filing and Contact Details

Filer

Filer Name
Bside Fund
EIN
84-3382379
Phone
3036570010
Address
3350 BRIGHTON BLVD SUITE 235, DENVER, CO 80216

Signing Officer

Name
Karol Jones
Title
CFO
Phone
3036570010
Signed
2024-09-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher Myers
Formed
2020
Legal Domicile
Co
Voting Board Members
16
Independent Board Members
15
Employees
0
Volunteers
43

Preparer

Firm
Armanino Llp
Address
2700 CAMINO RAMON STE 350, SAN RAMON, CA 94583-5004
Preparer
Katy Brown
Phone
9257902600
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“B:side fund is a tax-exempt organization under section 501(c)(3) of the internal revenue code. The organization follows the provisions of the fasb asc topic, income taxes. The topic prescribes a more-likely-than-not threshold for financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. The topic also provides guidance on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods and income tax disclosures.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt1PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER (THRU 01/23)
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt18CHIEF OPERATING OFFICER
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IRS990/GrantsToDomesticIndividualsGrp/TotalAmt0334693
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01297055
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
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IRS990/LobbyingActivitiesInd00
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROMOTE ECONOMIC DEVELOPMENT IN AND FOSTER ECONOMIC GROWTH OF DIVERSE SMALL BUSINESSES.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990/OfficeExpensesGrp/TotalAmt0869
IRS990/OfficerMailingAddressInd00
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IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherExpensesGrp/TotalAmt0133253
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IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO BSIDE CAPITAL
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CSLF GRANT CAPITAL
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CSLF LOAN CAPITAL
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3CDFI TA
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0B:SIDE FUND IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION FOLLOWS THE PROVISIONS OF THE FASB ASC TOPIC, INCOME TAXES. THE TOPIC PRESCRIBES A MORE-LIKELY-THAN-NOT THRESHOLD FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN (OR EXPECTED TO BE TAKEN) IN A TAX RETURN. THE TOPIC ALSO PROVIDES GUIDANCE ON DERECOGNITION OF INCOME TAX ASSETS AND LIABILITIES, CLASSIFICATION OF CURRENT AND DEFERRED INCOME TAX ASSETS AND LIABILITIES, ACCOUNTING FOR INTEREST AND PENALTIES ASSOCIATED WITH TAX POSITIONS, ACCOUNTING FOR INCOME TAXES IN INTERIM PERIODS AND INCOME TAX DISCLOSURES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0COLORADO STARTUP LOAN FUND GRANT TO SMALL BUSINESS OWNERS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt051
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS A GRANT PROCESS THAT WAS DESIGNED AT THE START OF THE PROGRAM AND REVIEWED/APPROVED BY OUR FUNDING PARTNER (STATE OF COLORADO). THE GRANT PROCESS / GUIDELINES SPECIFY WHICH BUSINESSES ARE ELIGIBLE TO APPLY, WHAT DOCUMENTATION THAT NEEDS TO BE COLLECTED AND RETAINED IN THE FILE. IF A GRANT APPLICANT IS UNABLE TO PROVIDE THE REQUIRED DOCUMENTATION, THEIR GRANT REQUEST IS DECLINED. ONCE DOCUMENTATION IS COLLECTED BY THE TEAM, IT IS REVIEWED BY THE DIRECTOR BEFORE A GRANT APPROVAL IS SENT TO THE APPLICANT. ONCE THE FINAL DOCUMENTS ARE COLLECTED, OUR TEAM LETS THE FINANCE TEAM KNOW THE GRANT IS READY FOR FUNDING.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt148000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt238000

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,999,261
Liabilities
$1,692,512
Net assets
$306,749
Revenue
$1,297,055
Expenses
$948,043
Net income
$349,012
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.12$2.69$0.43$0.42$0.53$0.11
2023Detailed filing. Detailed filing data is available for this year.$2.00$1.69$0.31$1.30$0.95$0.35
2022Detailed filing. Detailed filing data is available for this year.$0.78$0.82$0.04$0.27$0.39$0.12
2021Detailed filing. Detailed filing data is available for this year.$0.92$0.84$0.07$0.05$0.00$0.05
2020Detailed filing. Detailed filing data is available for this year.$5.32$5.29$0.03$0.12$0.09$0.03