Main Street Launch

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Principal Officer

Rohan Kalbag

Phone

5107634297

Tax Period

2024-07-01 to 2025-06-30

Main Street Launch, founded in 1979, is a community nonprofit in the Community Improvement sector that reported $6.7M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $5.8M left a modest 14% surplus.

Mission

Our mission is to create economic opportunity by empowering entrepreneurs.Through innovative partnerships we provide business owners with capital, education, and relationships that allow them to flourish. Our collaborative approach helps our clients create jobs and stimulates economic development in low-to-moderate income communities.

Program Service Accomplishments

Program 1

Expenses: $4,867,049

PROGRAM ACCOMPLISHMENTIn the last 10 years, Main Street Launch has made loans totaling $95 million tomore than 1,200 businesses, creating and sustaining over 5,800 jobs. These loanssupported 47%...

PROGRAM ACCOMPLISHMENTIn the last 10 years, Main Street Launch has made loans totaling $95 million tomore than 1,200 businesses, creating and sustaining over 5,800 jobs. These loanssupported 47% women-owned businesses, 28% new businesses, 40% businesses in low to moderate income (LMI) areas, and 68% of borrowers were LMI entrepreneurs. Main Street Launch provides lending services across the entire state of California, with a particular focus on Oakland and San Francisco.During FY25, Main Street Launch provided technical assistance to 600 entrepreneursand loaned $9 million to 57 California small businesses, including 18 businessesin San Francisco and 12 in Oakland. These businesses created and sustained over 300jobs. Main Street Launchs technical assistance and lending activity has resulted injob creation and income for residents in LMI communities, increased wealth forunderserved entrepreneurs, and increased economic activity in LMI communities. Thisleads to improved community vitality as a result of decreasing retail leakage,blight, and the number of empty storefronts, increasing tax revenue of city servicesand residents access to goods and services.In 2025 Main Street Launch started a new program in San Francisco to support businesses filling vacant storefronts in Downtown San Francisco. The program is a public-private partnership funded by the City of San Francisco and several private bank and foundation funders. The program provides grant and low cost/flexible debt capital to small businesses filling vacant storefronts.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,656,429

Program Service Revenue $1,916,081

Investment Income $126,969

Other Revenue $30,913

TOTAL REVENUE $6,730,392

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,255,033

Fundraising Expenses $0

Program Expenses $4,867,049

Other Expenses $2,543,047

TOTAL EXPENSES $5,798,080

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,730,392	$5,291,164	+0.3%
Expenses	$5,798,080	$8,388,879	-0.3%
Net Income	$932,312	$-3,097,715	-1.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

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

$277,102

Total Directors

$6,828

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Joyce Windross	EVP Operations	40.00		$291,099	$15,438	$306,537
Rohan Kalbag	CEO	40.00	Officer	$269,538	$6,564	$276,102
Jen Verne	CDO	40.00		$256,204	$15,639	$271,843
Karla DeLeon	CCO	40.00		$218,526	$12,253	$230,779
Darius Mahajer	SVP Marketing Mgr	40.00		$173,270	$16,032	$189,302
Arthur Washington	Director	0.50	Director	$3,500	$0	$3,500
Wendell Jones II	Chairperson	1.25	Director	$500	$0	$500
MARK LINDQUIST	Secretary	1.25	Officer Director	$500	$0	$500
Stephanie Jones	Treasurer	0.50	Officer Director	$500	$0	$500
Jim Wong	Director	0.50	Director	$500	$0	$500
Eric Nelson	Director	0.50	Director	$500	$0	$500
Matt Ching	Director	0.50	Director	$500	$0	$500
Elizabeth Fuchs	Director	0.50	Director	$328	$0	$328
Vernon Goins	Director	0.50	Director	$0	$0	$0
Erik Daniels	Director	0.50	Director	$0	$0	$0
Gregory Hunter	Director	0.50	Director	$0	$0	$0
LaSandra Hunt	Director	0.50	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
2025	$6,730,392	$5,798,080	$26,128,268	$932,312
2024	$5,291,164	$8,388,879	$24,362,000	$-3,097,715
2024	$5,291,164	$8,388,879	$24,362,000	$-3,097,715
2023	$7,518,901	$7,255,615	$28,397,163	$263,286
2022	$10,030,416	$10,076,153	$30,976,803	$-45,737
2021	$12,838,427	$8,376,838	$33,776,792	$4,461,589
2020	$8,266,331	$7,440,148	$31,951,091	$826,183
2019	$7,447,994	$6,675,363	$23,893,477	$772,631
2018	$6,842,784	$5,580,553	$20,063,149	$1,262,231