2024-06-03T15:31:30-04:00 2023-09-30 KUNDINGER CORDER & MONTOYA PC 475 LINCOLN STREET SUITE 200 DENVER CO 80203 990 2022-10-01 840837398 COLORADO ENTERPRISE FUND COLO 3038600242 1888 SHERMAN STREET SUITE 530 DENVER CO 80203 CECILIA PRINSTER PRESIDENT AND CEO 3038600242 2024-06-03 true CECILIA PRINSTER 999009999 true TIFFANY KNIGHT P01725779 3035345953 2024-06-03 2022 2023-04-26 12:10:37Z CECILIA PRINSTER 1888 SHERMAN STREET SUITE 530 DENVER CO 80203 18269112 false X WWW.COLORADOENTERPRISEFUND.ORG X 1976 CO TO ACCELERATE COMMUNITY PROSPERITY BY FINANCING AND SUPPORTING ENTREPRENEURS AND SMALL BUSINESSES. 11 11 39 13 0 12449511 12136951 4419094 5800275 10549 285542 46344 16879154 18269112 6110786 1600077 0 2517557 3987682 0 331796 1578391 5218133 10206734 10805892 6672420 7463220 67369528 70114897 40467529 35749678 26901999 34365219 TO ACCELERATE COMMUNITY PROSPERITY BY FINANCING AND SUPPORTING ENTREPRENEURS AND SMALL BUSINESSES. false false 6984529 5800275 SMALL BUSINESS LOAN PROGRAM - CEF AGGREGATES AND LEVERAGES CAPITAL TO SPUR INVESTMENT AND BUILD CAPACITY FOR THOSE WHO ARE EXCLUDED FROM MAINSTREAM BANK FINANCING AND ENTREPRENEURIAL NETWORKS, SPECIFICALLY TARGETING LOW- INCOME AND MINORITY SMALL BUSINESS OWNERS. CEF PROVIDES FINANCING OPTIONS WHEN BANKS CANNOT LEND OR CANNOT LEND ENOUGH, SPECIALIZING IN LOANS UP TO 500,000 FOR NEW AND EXISTING SMALL BUSINESSES AND SOCIAL ENTERPRISES THROUGHOUT COLORADO. CEF CATALYZES BUSINESS OWNERSHIP AND JOB CREATION BY OFFERING FLEXIBLE FINANCING PRODUCTS, PERSONALIZED CLIENT SUPPORT, ONE-ON- ONE BUSINESS COACHING, AND ACCESS TO ADDITIONAL RESOURCES FOR UNDERSERVED ENTREPRENEURS. 1600077 1600077 DURING 2022, CEF ENTERED INTO AGREEMENTS WITH GOVERNMENTAL ENTITIES TO ADMINISTER GRANT PROGRAMS FOR SMALL BUSINESSES AFFECTED BY ECONOMIC HARDSHIP CAUSED BY THE COVID-19 PANDEMIC, FUNDED BY THE STATE OF COLORADO AND THE AMERICAN RESCUE PLAN ACT (ARPA). 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X X X X false false false false false false false false false CECILIA PRINSTER PRESIDENT AND CEO 162519 20500 6692 1325 191036 NIM PATEL INTERIM CFO & CSO 170244 500 170744 SCHEDULE J, PART III PART I, LINE 3 - THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS ANNUALLY PERFORMS A COMPENSATION REVIEW FOR THE CEO AND APPROVES SALARY INCREASES AND BONUSES. THIS INCLUDES THE USE OF SALARY DATA ON SIMILAR POSITIONS FROM EMPLOYER'S COUNCIL. FORM 990, PAGE 6, PART VI, LINE 4 EFFECTIVE JULY 20, 2023, THE BOARD APPROVED A CHANGES IN THEIR BYLAWS. CEF'S BYLAWS PREVIOUSLY DID NOT A HAVE SET LIMIT FOR THE MAXIMUM OF DIRECTORS, THIS WAS UPDATED TO NO MORE THAN FIFTEEN (15) DIRECTORS. IN ADDITION, THE PREVIOUS QUORUM AT ALL MEETINGS OF THE BOARD OF DIRECTOR WAS ONE-THIRD (1/3), THIS WAS UPDATED TO ALL MEETINGS OF THE BOARD OF DIRECTORS SHALL CONSIST OF ONE-HALF (1/2) OF THE DIRECTORS THEN SERVING. FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF THE FORM 990 WAS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY FOR REVIEW AND APPROVAL PRIOR TO BEING FILED. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD OF DIRECTORS ARE REGULARLY REMINDED OF THEIR RESPONSIBLITY TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST AND ARE EXPECTED TO RECUSE THEMSELVES OF ANY DECISION MAKING IF THERE IS AN ACTUAL CONFLICT OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD ANNUALLY PERFORMS A COMPENSATION REVIEW FOR THE CEO. THIS INCLUDES THE USE OF SALARY DATA ON SIMILAR POSITIONS FROM EMPLOYER'S COUNCIL. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G BUSINESS NAVIGATION SERVICES 268,148 116,364 21,220 MANAGEMENT 173,455 75,271 13,726 MARKETING 70,481 30,585 5,577 FACILITIES & ADMIN 97,792 112,437 7,739 LOAN PROCESSING 79,352 34,435 6,280 OTHER 218,430 94,791 17,285 TOTAL 907,658 463,883 71,827 FORM 990, PART XII LINE 2C - THE FINANCE AND AUDIT COMMITTEE IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND HAS FINAL APPROVAL ON THE SELECTION OF AN INDEPENDENT AUDITOR. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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