Overview
What is California Southern Small Business Development Corporation?
California Southern Small Business Development Corporation is a nonprofit organization situated in San Diego, California. Their primary role involves administering loan guarantees to support the growth and development of small businesses within Southern California. In the 2021-2022 period, they aided 566 businesses in securing these loans. The organization's mission is to provide underwriting services and guarantee loans, thereby fostering the expansion of small businesses in the region. With a modest staff of five individuals, they contribute significantly to the local entrepreneurial landscape.
Official website here: www.casouth.com
What are the reviews and ratings of this charity?
Charity Navigator rating: 96% (Four-Star out of Four Stars)
The California Southern Small Business Development Corporation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 96%, indicating a high level of transparency and financial health. This score is bolstered by an independent board consisting of all members with no conflicts of interest, showcasing a commitment to governance and accountability.
Strengths of the organization include a robust financial oversight structure, evidenced by perfect scores in various categories such as audit and oversight, as well as a low liabilities-to-assets ratio. Furthermore, the organization allocates a significant portion of its resources—over 76%—towards program expenses, indicating a strong focus on fulfilling its mission rather than administrative costs.
While the rating is predominantly based on financial metrics, which can provide a limited view of overall effectiveness, the California Southern Small Business Development Corporation demonstrates strong financial management practices. However, prospective donors or supporters may want to consider the impact of its programs beyond financial metrics to ensure alignment with their philanthropic goals.
This AI summary has been generated from information found on Charity Navigator.
Is California Southern Small Business Development Corporation legitimate?
California Southern Small Business Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. California Southern Small Business Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $291,160
Professional Fundraising Fees: $0
Other Salaries and Wages: $660,625
For more financial information, click here
Official website here: www.casouth.com
What is the mission statement of California Southern Small Business Development Corporation?
The California Southern Small Business Development Corporation's mission is centered around supporting the growth and development of small businesses. Specifically, they undertake the task of underwriting and guaranteeing loans for small businesses situated in Southern California. This initiative aims to provide financial assistance, thereby facilitating the expansion and success of these businesses. In the 2021-2022 period, California Southern assisted a total of 566 businesses in securing guaranteed loans.
Official website here: www.casouth.com
What is the revenue of California Southern Small Business Development Corporation?
California Southern Small Business Development Corporation's revenue in 2024 was $2,834,644.
Official website here: www.casouth.com
Who are the executives of California Southern Small Business Development Corporation and what are their salaries?
The average compensation at California Southern Small Business Development Corporation during 2024 was $158,631. There are 6 employees and 9 volunteers at California Southern Small Business Development Corporation.
Here are 13 key members and their salaries:
- Compensation: $296,257
- Related: $0
- Other: $0
- Compensation: $211,220
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- Other: $0
- Compensation: $196,273
- Related: $0
- Other: $0
- Compensation: $141,116
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.casouth.com
Where can I find the form 990 for California Southern Small Business Development Corporation?
California Southern Small Business Development Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.casouth.com
Learn more at the official website: www.casouth.com
Mission Statement of California Southern Small Business Development Corporation
California Southern Small Business Development Corporation, in its mission, plays a crucial role in underwriting and guaranteeing small business loans in Southern California. This nonprofit organization is dedicated to aiding the growth and development of these businesses, providing them with the financial assistance they need to thrive. In the fiscal year 2021-2022, California Southern assisted a significant number of 566 businesses in obtaining these guaranteed loans, demonstrating its commitment to supporting small businesses in the region.
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Impact
October, 2024
California Southern Small Business Development Corporation significantly impacts the small business landscape in Southern California by facilitating access to financing. By underwriting and guaranteeing small business loans, it plays a crucial role in supporting the growth and development of local enterprises. In the fiscal year 2021-2022, California Southern successfully assisted 566 businesses in securing guaranteed loans, thereby enabling these businesses to expand, enhance operations, and create jobs. This direct intervention promotes economic stability and fosters entrepreneurship in the region, positioning small businesses as vital contributors to the local economy.
This information is meant to be a general summary of California Southern Small Business Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $129,077
- Program Service Revenue: $2,456,161
- Gross Receipts: $2,834,644
Assets and Liabilities:
- Total Assets: $3,729,099
- Total Liabilities: $252,082
- Net Assets: $3,477,017
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COVID Loan Fees
Revenue
$16,665
Loan Guarantee Fees
Revenue
$2,439,496
Organization Details
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