2019-05-16T08:15:46-07:00 2018-12-31 953606498 CWDL CPAs 5151 Murphy Canyon Rd Ste 135 San Diego CA 92123 990 2018-01-01 953685889 SPRINGBOARD CDFI SPRI 8889832344 4351 LATHAM STREET RIVERSIDE CA 92501 JOANNE CORDERO President 2019-05-16 true MARK WILSON CPA P00390906 8585652700 2018 2019-02-21 02:37:17Z JOANNE CORDERO 4351 LATHAM STREET 100 RIVERSIDE CA 92501 743000 false false X SPRINGBOARD.ORG X 1982 CA BRIDGING THE WEALTH GAP IN AMERICA BY PROVIDING SCALED SOLUTIONS AND ACCESS TO CAPITAL; WITH A FOCUS ON FIRST-TIME HOMEBUYERS, PEOPLE OF COLOR, AND RURAL COMMUNITIES. 5 5 33 0 1779036 239606 917116 503390 27 4 0 2696179 743000 0 0 1720121 1450462 0 0 1919186 1479409 3639307 2929871 -943128 -2186871 9191951 9338614 333333 2666476 8858618 6672138 SPRINGBOARD CDFI IS A 501(C)3 NONPROFIT CORPORATION INCORPORATED ON FEBRUARY 25, 1982 WITH A MISSION TO BRIDGE THE WEALTH GAP IN AMERICA BY BRINGING SCALED SOLUTIONS AND ACCESS TO CAPITAL TO UNDERSERVED MARKETS. HAVING BEEN IN THE BUSINESS FOR OVER 30 YEARS, SPRINGBOARD CDFI WALKS FIRST-TIME HOMEBUYERS THROUGH THE PROCESS, MAKING SURE THEY UNDERSTAND EVERY STEP, AND DELIVERING LOANS AT THE BEST RATES AND TERMS AVAILABLE. SPRINGBOARD CDFI ALSO OPERATES AS SPRINGBOARD HOME LOANS AND LEADS THE EFFORTS OF THE SPRINGBOARD MORTGAGE COLLABORATIVE AS THE HOST COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION ("CDFI") AND PROVIDER OF TECHNOLOGY, ACCESS TO CAPITAL MARKETS, AND FULFILLMENT SOLUTIONS. false false 1810404 240000 424704 THROUGH ITS COMBINED PRODUCTS AND SERVICES, SPRINGBOARD CDFI ASSISTED 150 CONSUMERS IN THE HOMEOWNERSHIP PROCESS IN 2018, DEPLOYING OVER $10M IN SPECIALTY MORTGAGE FINANCING.SPRINGBOARD CDFI IS A US TREASURY CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, PROVIDING DOWN-PAYMENT, FIRST MORTGAGE, AND CLOSING COST LOANS FOR THE PRIMARY BENEFIT OF LOW TO MODERATE INCOME (LMI) FIRST-TIME HOMEBUYERS IN COMMUNITIES GENERALLY UNDERSERVED BY TRADITIONAL LENDERS. SPRINGBOARD CDFI OFFERS A VARIETY OF LOAN PROGRAMS IN PARTNERSHIP WITH FINANCIAL INSTITUTIONS AND OTHER PARTNERS AND ALSO ORIGINATES OR SERVICES A VARIETY OF DOWN-PAYMENT AND SPECIAL PROGRAMS, EITHER FROM ITS OWN FUNDS, BROKERED THROUGH BANK LENDING PARTNERS, OR AS THE ADMINISTRATOR ON BEHALF OF GOVERNMENT OR NONPROFIT ENTITIES.THE LOAN ASSETS OF SPRINGBOARD CDFI WERE ORIGINATED UNDER THE FOLLOWING PROGRAMS:COST ASSISTANCE SUPPORT FOR HOMEBUYERS (CASH):THIS LOAN PROGRAM PROVIDES DOWN-PAYMENT AND CLOSING COST ASSISTANCE FOR QUALIFYING FIRST-TIME HOMEBUYERS WHO HAVE SOME LIQUID ASSETS, BUT STILL NEED ADDITIONAL FUNDS. SPRINGBOARD CDFI CHARGES A LOW FIXED INTEREST RATE UNDER THIS PROGRAM WHEREBY THESE LOANS ARE FULLY AMORTIZED WITH TEN-YEAR TERMS AND CAN BE DEFERRED FOR UP TO FIVE YEARS BASED UPON THE BORROWER'S ABILITY TO PAY.CALHOME:CALHOME LOAN FUNDS ALLOW FIRST-TIME HOMEBUYERS EARNING LESS THAN 80% OF AREA MEDIAN INCOME TO OBTAIN FULLY DEFERRED DOWN-PAYMENT LOANS AT 3% INTEREST. REPAYMENT OF THESE LOANS IS DEFERRED UNTIL THE SALE OR REFINANCING OF THE PROPERTY. 1810404 true true false false false false false false false false true false false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false true 35 0 true 33 true false false false false false false false false 0 false false false false false false false false false false false false X 5 5 false false false false false false false true true false false true true true true true true true true false AK AL AR AZ CA CO FL GA IA IL KS KY MD ND NJ OK OR RI TN TX X X TED QUITASOL 9517797703 4351 LATHAM STREET RIVERSIDE CA 92501 TODD EMERSON Chairman 1.00 0.00 X 0 0 0 JOHN PERLSTEIN Director 1.00 0.00 X 0 0 0 DENIS GITSCHIER Director 1.00 0.00 X 0 0 0 STEVEN CLARK Director 1.00 0.00 X 0 0 0 CURTIS PARADZICK Director 1.00 0.00 X 0 0 0 JAMIL ATCHA EX VICE PRESIDE 40.00 0.00 X 0 0 0 ANGELIQUE CAPALBO VP LENDING 40.00 0.00 X 168010 0 0 LUPE HERNANDEZ Vice President 40.00 0.00 X 131412 0 0 GABE DEL RIO PAST PRESIDENT 40.00 0.00 X 186942 0 0 LORENZO DOMINGUEZ MANAGER 40.00 0.00 X 107997 0 0 JOANNE CORDERO President 40.00 0.00 X 0 0 0 594361 4 false true false SPRINGBOARD SOCIAL ENTERPRISES 555 CORPORATE DRIVE SUITE 110 LADERA RANCH CA 92501 MANAGEMENT SERVICE 381711 SPERIDIAN TECHNOLOGIES 2400 LOUISIANA NE BLDG 3 ALBUQUERQUE NM 87110 IT SERVICE 176646 CREDITORG 4351 LATHAM ST RIVERSIDE CA 92501 MANAGEMENT SERVICE 151677 3 239606 239606 LOAN AND BROKER FEES 522292 396500 396500 LOAN INTEREST 522292 28207 28207 PROCESSING FEES AND OTHER 522292 78683 78683 503390 4 4 0 0 0 0 0 0 0 0 743000 503394 0 0 0 0 587212 587212 0 666983 447361 219622 0 72633 55623 17010 123634 103199 20435 419374 419374 23039 2806 20233 0 0 0 0 129838 83898 45940 35440 35290 150 5899 3733 2166 27742 1886 25856 0 82290 189 82101 38436 28327 10109 0 0 39795 29212 10583 0 162613 162613 65445 25463 39982 LOAN PROCESSING COSTS 190298 190208 90 BUSINESS DEVELOPMENT 91000 84559 6441 TAXES AND LICENSES 60473 54612 5861 TRANSACTOIN RELATED 36601 36601 71126 40225 30901 2929871 1810404 1119467 0 326978 698124 0 3322 0 1934 4964 0 0 7209037 8395623 0 773 9070 637040 406210 326832 230830 0 0 0 0 1323075 3 9191951 9338614 213725 191926 3129 116479 2474550 333333 2666476 X 1593683 -1779333 7264935 8451471 8858618 6672138 9191951 9338614 X -2186871 391 X false true X true false X 1803112 3210262 2539123 1779036 240000 9571533 0 0 1803112 3210262 2539123 1779036 240000 9571533 0 9571533 28 28 26 27 4 113 0 0 9571646 1.00000 1.00000 X 637040 406210 230830 230830 ACCRUED EXPENSES 122738 DUE TO CALHOME 660145 LINE OF CREDIT 1600000 LONG-TERM DEBT 66667 RELATED ORGANIZTION PAYABLE 25000 2474550 X 743000 743000 743000 2929871 2929871 2929871 Part X : FIN48 Footnote SPRINGBOARD CDFI IS A PUBLIC CHARITY AND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)3 OF THE INTERNAL REVENUE CODE AND SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE. SPRINGBOARD CDFI BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. SPRINGBOARD CDFI IS NOT A PRIVATE FOUNDATION. SPRINGBOARD CDFI'S RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX FOR THE YEARS ENDED DECEMBER 31, 2018, 2017, 2016 AND 2015 IS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES, GENERALLY THREE TO FOUR YEARS AFTER THE RETURNS WERE FILED. false false false false false false false false false false ANGELIQUE CAPALBO VP LENDING 156550 11460 168010 GABE DEL RIO PAST PRESIDENT 179793 7149 186942 Form 990, Part VI, Line 11b: Form 990 Review Process THE 990 IS REVIEWED INTERNALLY AND THEN PRESENTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL PRIOR TO FILING. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts IN CASE OF A CONFLICT OF INTEREST ISSUE, THE BOARD WOULD REVIEW THE SITUATION. THERE ARE NO KNOWN CONFLICTS OF INTEREST FOR THE CURRENT TAX YEAR. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management THE ORGANIZATION USES INDEPENDENT PERSONS AND CONTEMPORANEOUS SUBSTANTIATION TO DETERMINE SALARIES. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees THE ORGANIZATION USES INDEPENDENT PERSONS AND CONTEMPORANEOUS SUBSTANTIATION TO DETERMINE SALARIES. Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection THE ORGANIZATION WILL PROVIDE A COPY TO PERSONS MAKING A WRITTEN REQUEST. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available THE ORGANIZATION WILL PROVIDE ITS EXEMPTION APPLICATION INCLUDING SUPPORTING DOCUMENTATION AND ITS ANNUAL RETURN TO ANY PERSON WHO REQUESTS THIS INFORMATION IN WRITING. THIS INFORMATION CAN BE OBTAINED IN THE FORM OF PDF DOCUMENTS. Other Changes In Net Assets Or Fund Balances - Other Increases TRANSFER OF NET ASSETS = $391