Overview
What is Cen-Tex Certified Development Corp?
Cen-Tex Certified Development Corp is a nonprofit organization located in Austin, Texas, with a specific mission to aid and encourage the growth and development of small businesses within the state. They accomplish this by processing and servicing Small Business Administration (SBA) loans for companies that cannot secure conventional financing. These loans are primarily funded through grants, contributions from various businesses and local governments, as well as interest earnings and principal repaid to the loan fund pool. During Fiscal Year 2022, they disbursed over $5 million in loans, contributing to the financial well-being of small businesses in Texas. Moreover, Cen-Tex also supports housing initiatives, working towards the development of affordable housing for low and moderate-income families, thereby contributing to Texas's economic development. The organization employs a team of 24 individuals dedicated to fulfilling its mission.
Official website here: www.bcloftexas.org
Is Cen-Tex Certified Development Corp legitimate?
Cen-Tex Certified Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cen-Tex Certified Development Corp 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.
Here are some key statistics you may want to consider:
Executive Compensation: $160,642
Professional Fundraising Fees: $0
Other Salaries and Wages: $817,645
For more financial information, click here
Official website here: www.bcloftexas.org
What is the mission statement of Cen-Tex Certified Development Corp?
Cen-Tex Certified Development Corp's mission is centered around promoting economic development in Texas. This is achieved by assisting and fostering the growth and development of small businesses within the state. Additionally, the organization plays a role in facilitating housing initiatives, specifically for low and moderate income families. The corporation's activities involve processing and servicing SBA loans for small businesses that may not qualify for conventional financing. These loans are funded through grant funds, contributions from various businesses and local governments, as well as interest earnings and principal returned to the loan fund pool. During fiscal year 2022, the organization disbursed over $5 million in loans to small businesses.
Official website here: www.bcloftexas.org
Who is the CEO of Cen-Tex Certified Development Corp?
Rosa Rios Valdez is the Chair of Cen-Tex Certified Development Corp. The CEO's salary of Cen-Tex Certified Development Corp is $150,000 and their total compensation is $160,642.
Official website here: www.bcloftexas.org
What is the revenue of Cen-Tex Certified Development Corp?
Cen-Tex Certified Development Corp's revenue in 2023 was $3,744,979.
Official website here: www.bcloftexas.org
Who are the executives of Cen-Tex Certified Development Corp and what are their salaries?
The average compensation at Cen-Tex Certified Development Corp during 2023 was $40,762. There are 24 employees at Cen-Tex Certified Development Corp.
Here are 10 key members and their salaries (Cen-Tex Certified Development Corp's CEO's salary is $150,000 and their total compensation is $160,642):
- Rosa Rios Valdez (Chief Executive Officer)
- David Salinas (Chair) [Trustee/Director]
- William Sutherland (Vice Chair) [Trustee/Director]
- Stacy Bowers (Treasurer) [Trustee/Director]
- Judy Canales (Secretary) [Trustee/Director]
- David Brennan (Director)
- Dora Zapata (Director)
- Andres Garza (Director)
- Melissa Chamrad (Director)
- Marina Garcia (Director)
Official website here: www.bcloftexas.org
Where can I find the form 990 for Cen-Tex Certified Development Corp?
The Cen-Tex Certified Development Corp’s most recent form 990 was submitted in 2023 and can be accessed here
Official website here: www.bcloftexas.org
Learn more at the official website: www.bcloftexas.org
Mission Statement of Cen-Tex Certified Development Corp
Cen-Tex Certified Development Corp is dedicated to promoting and facilitating the growth and development of small businesses in Texas. With a focus on economic development, the organization aims to assist these businesses that may not qualify for conventional financing. To achieve this mission, Cen-Tex processes and services Small Business Administration (SBA) loans, utilizing grant funds, contributions from various businesses and local governments, as well as earnings and principal returned to the loan fund pool. During the fiscal year 2022, the organization disbursed over $5 million in loans, demonstrating its commitment to supporting small businesses in Texas. Furthermore, Cen-Tex also contributes to the development of affordable housing for low and moderate-income families, showcasing its dedication to fostering sustainable community growth.
Impact
This information is meant to be a general summary of Cen-Tex Certified Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
Cen-Tex Certified Development Corp's impact can be seen through its significant role in promoting and assisting the growth and development of small businesses in Texas. By facilitating business lending and processing SBA loans for small businesses that may not qualify for conventional financing, Cen-Tex has provided crucial financial support to entrepreneurs and business owners. This assistance has enabled small businesses to access capital that they need to thrive and expand, ultimately contributing to the economic development of Texas.
Additionally, Cen-Tex's efforts in facilitating housing initiatives have played a vital role in the development of affordable housing for low and moderate-income families. By focusing on supporting these communities with housing opportunities, Cen-Tex has made a tangible impact on improving the quality of life for many individuals and families in Texas.
Overall, Cen-Tex Certified Development Corp's commitment to furthering economic development, promoting small businesses, and supporting affordable housing initiatives highlights its valuable contribution to the community improvement and overall prosperity of Texas.
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 2023.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$615,184
LOAN SERVICING FEES
Revenue
$191,030
LOAN PROCESSING FEES
Revenue
$33,948
CONTRACT INCOME
Revenue
$447,177
HOMEBUYER COUNSELING
Revenue
$50,348
Organization Details
Founding Year
1990
Phone
(512) 912-9884
Principal Officer
Rosa Rios Valdez
Main Address
1011 JAN JACINTO BLVD, AUSTIN, TX, 78701
Website
www.bcloftexas.org
NTEE Category
Code: S30Z - Community improvement
If you are a representative of Cen-Tex Certified Development Corp 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.