Boulder SBDC Foundation

EIN: 832726814 501(c)(3)

Boulder, CO

Total Revenue
$1,164,546
Total Expenses
$1,323,070
Total Assets
$289,783
Net Assets
$285,831
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Organization Details

Formation Year
2019
Legal Domicile
CO
Principal Officer
Sharon King
Phone
7202074303
Tax Period
2023-01-01 to 2023-12-31

Boulder SBDC Foundation, founded in 2019, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2023. Expenses of $1.3M exceeded revenue, resulting in a 14% operating deficit.

Mission

Boulder Small Business Development Center (SBDC) is a hands-on, economic development and business assistance nonprofit whose mission is to support the growth and resiliency of small businesses in Boulder County by providing free business consulting, practical workshops & events and connection to resources, including financing. The SBDC helps all types of small businesses - from startups through 2nd stage, from Main Street through highly scalable technology ventures.

Program Service Accomplishments

Program 1
Expenses: $637,171 Revenue: $379,871

Core Main Street BusinessesThe Core SBDC program focuses on small businesses in the county - retail, restaurants and service businesses - what economic development defines as secondary employers...

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Core Main Street BusinessesThe Core SBDC program focuses on small businesses in the county - retail, restaurants and service businesses - what economic development defines as secondary employers (greater than 50% of their revenue come from outside the area). We support the growth and resiliency of these small businesses providing free business consulting, practical, low-cost or free workshops, and connection to resources, including financing. Entrepreneurship series are produced to help startups. Special programming (i.e. Contract Opportunities Fair) is produce annually to provide new revenue opportunities. Consulting is provided by the Center staff as well as by a large pool of contract specialist consultants.

Program 2
Expenses: $213,308 Revenue: $392,161

Special Impact ProgramsPDisaster- Marshall Fire Response & RecoveryThe Marshall Fire disaster occurred on December 30, 2021 in Boulder County, Colorado (the area served by the Boulder SBDC). The...

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Special Impact ProgramsPDisaster- Marshall Fire Response & RecoveryThe Marshall Fire disaster occurred on December 30, 2021 in Boulder County, Colorado (the area served by the Boulder SBDC). The Presidential Disaster Declaration was DR4634 Marshall Fire and Straight Line Winds. Boulder SBDC immediately stood up a disaster response team to assist businesses impacted by the fires. The support continued throughout 2023 including collaborations with state, county and city initiatives (i.e. grants) to aid with business recovery. COVID Pandemic Recovery - ARPA/SLFRFBusiness educational programs and technical support for the recovery of small businesses due to the COVID pandemic continued throughout 2023. This included basic business workshops and one-on-one confidential consulting, as well as specialized topics to help businesses to rebuild their customer bases. Accelerated Growth Program - EMRAC/Insight - Market Research Statewide ProgramThe State of Colorado legislators funded this specially-designed program to support the recovery and growth of small businesses throughout the state. Built on the foundation of accessing market research data to inform strategic business decisions, we developed and produced five online learning modules that small business owners would work through (including tests and "homework"). In parallel with the online training, the team held one-on-one consulting meetings with the business owners to provide insights and additional research as they made their growth decisions. As part of this program, 18 consultants were trained to use the market research tools and to assist the businesses. Those consultants will continue to work with SBDC small businesses, statewide.

Program 3
Expenses: $179,929 Revenue: $359,884

Colorado Emerging VenturesColorado Emerging Ventures (CEV) is a targeted consulting and education program developed to assist scalable pre- and post-revenue businesses that are poised for high growth...

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Colorado Emerging VenturesColorado Emerging Ventures (CEV) is a targeted consulting and education program developed to assist scalable pre- and post-revenue businesses that are poised for high growth - including biotech, IT, aerospace, cleantech, outdoor and natural products and other key industries. CEVs signature program is the Tech Venture Accelerator (TVX), a cohort program to help accelerate the growth and development of Boulders science & technology businesses.Different from other accelerators and incubators, the focus is on non-dilutive capital sources for small innovative businesses (where the company does not give up ownership), including SBIR/STTR grants, federal R&D tax credits and support for technology commercialization to get to market faster. After piloting CEV/TVX locally for several years, the program expanded statewide as the Colorado SBDC TechSource. It supports the launch and growth of Colorado science and technology ventures-startup through second stage-with specialized consulting, accelerator programs, workshops and events - with special focus on underserved communities.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,163,916
Program Service Revenue $0
Investment Income $630
Other Revenue $0
TOTAL REVENUE $1,164,546

Expense Breakdown

Grants Paid $0
Salaries & Benefits $524,143
Fundraising Expenses $0
Program Expenses $1,116,153
Other Expenses $798,927
TOTAL EXPENSES $1,323,070

Year-over-Year Comparison

2023 2022 Change
Revenue $1,164,546 $1,132,021 +0.0%
Expenses $1,323,070 $1,103,836 +0.2%
Net Income $-158,524 $28,185 -6.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
3
Independent Members
N/A
Employees
5
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$137,518
Total Directors
2
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Sharon King Exec. Director 45.00
Officer
$129,780 $7,738 $137,518
Rachel Garcia Program Director 40.00
$84,000 $9,518 $93,518
Jamie Brandess Program Director 40.00
$84,000 $9,314 $93,314
William F Jones Jr Director 2.00
Director
$0 $0 $0
Carrie Schiff Director 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,164,546 $1,323,070 $289,783 $-158,524
2022 $1,132,021 $1,103,836 $445,193 $28,185
2021 $1,070,102 $941,847 $416,697 $128,255
2020 $766,026 $811,068 $288,816 $-45,042
2019 $886,854 $789,135 $334,076 $97,719
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