Overview
What is Bay Area Employment Development Company?
Bay Area Employment Development Company, abbreviated as BDC, is a licensed nonprofit organization based in Walnut Creek, California. It operates under the supervision of the U.S. Small Business Administration, a federal agency. With a mission to aid small businesses, BDC is certified as a development company and offers 504 loans. These loans provide low-cost financing for fixed asset expansions, which ultimately helps these businesses retain and create jobs. This commercial revitalization effort benefits the local communities. Since its inception, BDC has assisted over 2,500 small businesses with over $1.8 billion in 504 financing, contributing to the creation and retention of approximately 28,000 jobs. The organization has a particular focus on supporting small businesses in low and moderate income areas and women and minority-owned businesses.
Official website here: www.baydevco.com
Is Bay Area Employment Development Company legitimate?
Bay Area Employment Development Company is a legitimate nonprofit organization registered as a 501(c)(4) entity. Bay Area Employment Development Company 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: $645,720
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,989,763
For more financial information, click here
Official website here: www.baydevco.com
What is the mission statement of Bay Area Employment Development Company?
The Bay Area Employment Development Company, a certified development company licensed by the U.S. Small Business Administration, has a mission to assist growing small businesses. By providing them with low-cost, optimally structured financing for fixed asset expansions, the company helps these businesses retain existing jobs and create new ones. Moreover, this financing aids in revitalizing commercial neighborhoods, thereby benefiting the communities at large. Since its inception, the company has supported over 2,500 small businesses with over $1.8 billion in 504 financing, contributing to the creation and retention of approximately 28,000 jobs. A significant portion of the businesses funded are located in low and moderate income areas, and women and minority-owned businesses also form a substantial part of their clientele.
Official website here: www.baydevco.com
Who is the CEO of Bay Area Employment Development Company?
Greg Young is the Ceo of Bay Area Employment Development Company. The CEO's salary of Bay Area Employment Development Company is $590,610 and their total compensation is $615,110.
Official website here: www.baydevco.com
What is the revenue of Bay Area Employment Development Company?
Bay Area Employment Development Company's revenue in 2022 was $5,006,883.
Official website here: www.baydevco.com
Who are the executives of Bay Area Employment Development Company and what are their salaries?
The average compensation at Bay Area Employment Development Company during 2022 was $175,699. There are 15 employees at Bay Area Employment Development Company.
Here are 15 key members and their salaries (Bay Area Employment Development Company's CEO's salary is $590,610 and their total compensation is $615,110):
- Compensation: $590,610
- Related: $0
- Other: $24,500
- Compensation: $362,020
- Related: $0
- Other: $61,002
- Compensation: $385,425
- Related: $0
- Other: $0
- Compensation: $336,067
- Related: $0
- Other: $45,367
- Compensation: $183,000
- Related: $0
- Other: $35,675
- Compensation: $162,358
- Related: $0
- Other: $41,421
- Compensation: $163,000
- Related: $0
- Other: $23,391
- Compensation: $4,000
- Related: $0
- Other: $0
- Compensation: $4,000
- Related: $0
- Other: $0
- Compensation: $4,000
- Related: $0
- Other: $0
- Compensation: $4,000
- Related: $0
- Other: $0
- Compensation: $4,000
- Related: $0
- Other: $0
- Compensation: $4,000
- Related: $0
- Other: $0
- Compensation: $4,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.baydevco.com
Where can I find the form 990 for Bay Area Employment Development Company?
Bay Area Employment Development Company's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.baydevco.com
Learn more at the official website: www.baydevco.com
Mission Statement of Bay Area Employment Development Company
Bay Area Employment Development Company, a licensed entity by the U.S. Small Business Administration, is committed to aiding the growth of small businesses. Their mission lies in securing affordable and optimally structured financing for these enterprises, particularly for expanding their fixed assets. This financial assistance is crucial in retaining existing jobs and generating new ones within these businesses. Moreover, the company plays a significant role in aiding these businesses in revitalizing their communities through commercial renovation efforts. Since its inception, Bay Area Employment Development Company has supported over 2,554 small businesses, providing them with over $1.8 billion in 504 financing. This has resulted in the creation and retention of approximately 28,000 jobs. Over a third of the businesses they've assisted are located in low and moderate income areas, and an equivalent proportion are owned by women and minority groups.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Bay Area Employment Development Company (BDC) plays a crucial role in fostering economic growth and job creation in the Bay Area. By facilitating low-cost, optimally structured financing for small businesses, BDC enables these enterprises to expand their fixed assets, which ultimately leads to the retention and creation of jobs. The company's impact is profound; it has provided over $1.8 billion in 504 financing to more than 2,500 small businesses, resulting in the creation and retention of approximately 28,000 jobs.
A significant portion of BDC's financing targets businesses in low and moderate-income areas, ensuring that economic development reaches underserved communities. Additionally, BDC is committed to supporting diversity in entrepreneurship, with over one-third of its clients being women and minority-owned businesses. This commitment not only helps individual businesses thrive but also contributes to the revitalization of neighborhoods, fostering overall community improvement.
Overall, BDC's work strengthens local economies, supports job growth, and enhances community development through strategic financing solutions.
This information is meant to be a general summary of Bay Area Employment Development Company. 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.
- Investment Income: $302,528
- Program Service Revenue: $4,699,866
- Gross Receipts: $5,006,883
Assets and Liabilities:
- Total Assets: $1,691,619
- Total Liabilities: $380,576
- Net Assets: $1,311,043
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Packaging and Closing
Revenue
$2,139,925
Servicing Fees
Revenue
$2,559,941
Organization Details
Founding Year
1978
Phone
(925) 926-1020Principal Officer
Greg Young
Main Address
1801 Oakland Blvd, Walnut Creek, CA, 94596
Website
www.baydevco.comNTEE Category
Code: S43 - Community improvement
If you are a representative of Bay Area Employment Development Company and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.