Overview
What is California Coastal Rural Development Corp?
California Coastal Rural Development Corp is a nonprofit organization situated in Salinas, California. Their primary mission is to support small farmers and businesses in the state by offering financing options. They aim to help these enterprises grow, thrive, and prosper, thereby contributing to the economic development of underserved communities. The corporation provides loan guarantees, encouraging lenders to extend loans to marginal credit businesses and farmers who may struggle to secure funds from commercial credit institutions at reasonable rates. With a team of 16 employees, they are committed to creating employment opportunities and boosting the local economy.
Official website here: www.calcoastal.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Stars)
California Coastal Rural Development Corp has earned a Four-Star rating from Charity Navigator, reflecting strong accountability and financial management. The organization scored 95% for Accountability & Finance, indicating a high level of transparency and responsible stewardship of resources. Notably, all board members are independent, which enhances governance and reduces potential conflicts of interest.
The organization demonstrates impressive financial practices, including a solid program expense ratio of over 70%, which suggests that a significant portion of its funds is directed toward its programs rather than administrative costs. Additionally, the presence of various policies, such as conflict of interest and whistleblower protections, underscores its commitment to ethical operations.
While the financial health is commendable, the liabilities to assets ratio of 51.60% indicates that the organization does carry some level of debt. However, this is not uncommon for nonprofits and does not significantly detract from its overall financial stability and effectiveness. Overall, California Coastal Rural Development Corp shows a strong commitment to its mission and responsible management of its resources.
This AI summary has been generated from information found on Charity Navigator.
Is California Coastal Rural Development Corp legitimate?
California Coastal Rural Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. California Coastal Rural Development Corp 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: $215,288
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,124,222
For more financial information, click here
Official website here: www.calcoastal.org
What is the mission statement of California Coastal Rural Development Corp?
The California Coastal Rural Development Corporation is committed to aiding small farmers and businesses in their growth and prosperity. This organization's primary mission is to assist these enterprises, largely located in underserved communities, to thrive and contribute to overall economic development. To achieve this goal, the corporation provides financial assistance in the form of loans and loan guarantees to eligible businesses that have the capacity to repay but struggle to secure funds at reasonable rates from commercial credit institutions. This financial aid is intended to foster employment creation and stimulate economic growth.
Official website here: www.calcoastal.org
Who is the CEO of California Coastal Rural Development Corp?
Lee Takikawa is the President of California Coastal Rural Development Corp.
Official website here: www.calcoastal.org
What is the revenue of California Coastal Rural Development Corp?
California Coastal Rural Development Corp's revenue in 2022 was $5,534,051.
Official website here: www.calcoastal.org
Who are the executives of California Coastal Rural Development Corp and what are their salaries?
The average compensation at California Coastal Rural Development Corp during 2022 was $83,719. There are 16 employees and 23 volunteers at California Coastal Rural Development Corp.
Here are 13 key members and their salaries:
- Compensation: $185,021
- Related: $0
- Other: $22,418
- Compensation: $950
- Related: $0
- Other: $0
- Compensation: $2,500
- Related: $0
- Other: $0
- Compensation: $1,100
- Related: $0
- Other: $0
- Compensation: $1,050
- Related: $0
- Other: $0
- Compensation: $1,400
- Related: $0
- Other: $0
- Compensation: $850
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $108,776
- Related: $0
- Other: $33,709
- Compensation: $105,692
- Related: $0
- Other: $34,079
- Compensation: $104,888
- Related: $0
- Other: $21,444
Official website here: www.calcoastal.org
Where can I find the form 990 for California Coastal Rural Development Corp?
California Coastal Rural Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.calcoastal.org
Learn more at the official website: www.calcoastal.org
Mission Statement of California Coastal Rural Development Corp
California Coastal Rural Development Corporation is committed to aiding small farmers and businesses in California. Their primary mission is to assist these enterprises in their growth, prosperity, and overall economic development. By providing financing, the corporation enables these underserved communities to thrive. Moreover, California Coastal Rural Development Corporation offers farm loans and loan guarantees to businesses that have the capacity to repay, yet struggle to secure funds at reasonable rates from commercial credit institutions. This financial assistance is essential for creating employment opportunities and fostering economic development in these communities.
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Impact
July, 2024
California Coastal Rural Development Corp's impact includes providing crucial financing to small farmers and businesses in underserved communities throughout California. Through their loan guarantee program, they encourage lenders to provide loans to marginal credit businesses and farmers, enabling them to grow, thrive, and prosper. By offering financial assistance and support, California Coastal Rural Development Corp plays a vital role in promoting economic development, creating employment opportunities, and fostering community improvement in the region.
This information is meant to be a general summary of California Coastal Rural Development Corp. 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 2022.
- Program Service Revenue: $2,684,226
- Gross Receipts: $5,534,051
Assets and Liabilities:
- Total Assets: $15,880,769
- Total Liabilities: $8,396,746
- Net Assets: $7,484,023
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
JURISDICTIONAL INCOME
Revenue
$2,181,753
LOAN INCOME
Revenue
$502,473
Organization Details
Founding Year
1982
Phone
(831) 424-1099Principal Officer
Lee Takikawa
Main Address
221 MAIN STREET 301, SALINAS, CA, 93901
Website
www.calcoastal.orgNTEE Category
Code: S30 - Community improvement
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