Preferred Lending Partners FY2023 filing

Tax-deductible

Lakewood, CO501(c)(3)EIN 74-2363487Revenue $1.2M in FY2023

On file with the IRSpreferredlendingpartners.com575 Union Blvd Ste 202, 80228-1242 · Lakewood, COTax-exempt since Oct 1985Publicly supported charity — 170(b)(1)(A)(vi)

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Preferred Lending Partners was organized for the purpose of furthering economic development for the state of colorado by promoting and assisting the growth and development of new and existing businesses.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$532K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $126K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$532K
to officers and key staff · 49% of spending
Concern: pay to officers and key staff is 49% of spending; over 30%.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 11.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$165K
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 10 voting members
Looks good: 9 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
-14% vs prior year
Spent
$1.1M
To programs
82%
Net assets
$1.1M
By yearFY2021–FY2025
Revenue
$1.2M
FY2023▼ -14%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.5M
FY2022$1.3M
FY2023$1.2M
FY2024$1.3M
FY2025$1.3M
Expenses
$1.1M
FY2023▼ -29%
Tap a bar for its year
Expenses by fiscal year
FY2021$994K
FY2022$1.5M
FY2023$1.1M
FY2024$1.2M
FY2025$1.2M
Net assets
$1.1M
FY2023▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.2M
FY2022$1.0M
FY2023$1.1M
FY2024$1.2M
FY2025$1.3M

From the FY2023 Form 990 (year ending September 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1985.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $883K Management & general 18% · $199K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $532K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Di
$307,479Pt VII · Sec A
Dir of Lendi
$119,526Pt VII · Sec A
$105,088Pt VII · Sec A
President
$0Pt VII · Sec A
Secretary/Tr
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Brian P Devlin$257,487$181,921$307,479$360,761$197,239
Destin Simmons—$141,983$105,088——
Juliene Wynn$136,196$109,419$119,526$127,583$116,179
Megan Jewell———$134,240$113,467
Laura Farley$106,177————
Laura L Farley———$103,446—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes and assists Colorado businesses to foster economic development.

Questions for Preferred Lending Partners

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Provided by the organization

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1 program · $883K · in their own filed words · FY2022
01

Preferred lending partner's lending program has assisted qualified businesses throughout colorado and arizona with obtaining small business administration loans by working with financial institutions and other third party lenders to secure long-term capital for business expansion and acquisition of capital assets.

$883Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$1.0M
Investment incomeLn 3$106K
Money outPt IX
$1.1M
Ln 25
Programscol B$883K
Managementcol C$199K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$1.3M
LiabilitiesLn 26$165K
PeoplePt VI, VII
12
listed · VII A
PaidVII A3
Voting boardVI 1a10
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.0M
Investment incomeLn 3$106K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
SavingsLn 2$1.1M
Cash and savings togetherLn 1–2$1.1M
Other assetsLn 15$59K
Total assetsLn 16$1.3M
LiabilitiesLn 26$165K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 55
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.1M$1.1M
Total assetsLn 16$1.4M$1.3M
LiabilitiesLn 26$336K$165K
Net assetsLn 32$1.0M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$328K$277K$51K
Other salaries and wagesLn 7$353K$298K$55K
Pension plan contributionsLn 8$16K$14K$3K
Other employee benefitsLn 9$45K$38K$7K
Payroll taxesLn 10$54K$45K$8K
Legal feesLn 11b$19K$19K
Accounting feesLn 11c$17K$17K
Other fees for servicesLn 11g$8K$7K$1K
Advertising and promotionLn 12$21K$18K$3K
Office expensesLn 13$15K$13K$2K
Information technologyLn 14$39K$33K$6K
OccupancyLn 16$104K$87K$16K
TravelLn 17$9K$8K$1K
Depreciation, depletion and amortizationLn 22$7K$6K$1K
InsuranceLn 23$10K$8K$2K
Other expenses (24a–d)Ln 24$37K$32K$5K
Total functional expensesLn 25$1.1M$883K$199K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.3M$1.2M$110K$1.3M 990 PDF
FY2024 $1.3M$1.2M$108K$1.2M 990 PDF
FY2023 Viewing $1.2M$1.1M$70K$1.1M 990 PDF
FY2022 $1.3M$1.5M−$191K$1.0M 990 PDF
FY2021 $1.5M$994K$532K$1.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $1,151,595 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,341,473$1,045,211
I-10 Investment incomePrior year $735$106,384
I-11 Other revenue$0
I-12 Total revenuePrior year $1,342,208$1,151,595
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,267,682$796,256
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $265,245$285,662
I-18 Total expensesPrior year $1,532,927$1,081,918
I-19 Revenue less expensesPrior year −$190,719$69,677
Part VI · Governance 9 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,151,595 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,045,211$1,045,211
VIII-3 Investment incomeExcluded from tax $106,384$106,384
VIII-12 Total revenueRelated to mission $1,045,211 · Excluded from tax $106,384$1,151,595
Part IX · Statement of functional expenses $1,081,918 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $277,097 · Management $51,373$328,470
IX-7 Other salaries and wagesPrograms $298,117 · Management $55,270$353,387
IX-8 Pension plan contributionsPrograms $13,626 · Management $2,526$16,152
IX-9 Other employee benefitsPrograms $37,545 · Management $6,960$44,505
IX-10 Payroll taxesPrograms $45,336 · Management $8,406$53,742
IX-11b Legal feesManagement $19,481$19,481
IX-11c Accounting feesManagement $16,897$16,897
IX-11g Other fees for servicesPrograms $6,729 · Management $1,247$7,976
IX-12 Advertising and promotionPrograms $17,754 · Management $3,291$21,045
IX-13 Office expensesPrograms $12,533 · Management $2,323$14,856
IX-14 Information technologyPrograms $32,916 · Management $6,103$39,019
IX-16 OccupancyPrograms $87,364 · Management $16,196$103,560
IX-17 TravelPrograms $7,727 · Management $1,433$9,160
IX-22 Depreciation, depletion and amortizationPrograms $5,952 · Management $1,103$7,055
IX-23 InsurancePrograms $8,147 · Management $1,510$9,657
IX-24 Other expenses (24a–d)Programs $31,837 · Management $5,119$36,956
IX-25 Total functional expensesPrograms $882,680 · Management $199,238 · Fundraising $0$1,081,918
Part X · Balance sheet $1,254,237 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,100,311$1,050,939
X-3 Pledges and grants receivable$14,714
X-4 Accounts receivableStart of year $86,077$105,745
X-9 Prepaid expenses and deferred chargesStart of year $13,035$24,007
X-15 Other assets$58,832
X-16 Total assetsStart of year $1,354,948$1,254,237
X-17 Accounts payable and accrued expensesStart of year $275,095$52,778
X-25 Other liabilitiesStart of year $60,659$112,588
X-26 Total liabilitiesStart of year $335,754$165,366
X-27 Net assets without donor restrictionsStart of year $1,019,194$1,088,871
X-32 Total net assets or fund balancesStart of year $1,019,194$1,088,871
X-33 Total liabilities and net assetsStart of year $1,354,948$1,254,237
Part XI · Reconciliation of net assets $1,088,871 net assets at year end
XI-1 Total revenue$1,151,595
XI-2 Total expenses$1,081,918
XI-3 Revenue less expenses$69,677
XI-4 Net assets at start of year$1,019,194
XI-10 Net assets at end of year$1,088,871

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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