B Side Capital FY2021 filing

Not tax-deductible

Denver, CO501(c)(6)Since 1990Mutual / membership EIN 84-1171311Revenue $6.0M in FY2021

On file with the IRSbsidecapital.org3350 Brighton Blvd Suite 235, 80216-5072 · Denver, COTax-exempt since Sep 1996

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The B:Side Capital mission is to foster the economic growth of diverse small businesses within our communities.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$1.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
3 of 6
filings with a surplus
Average deficit $39K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$1.1M
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
11 mo
of spending, in cash
Looks good: 11.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$8.1M
66% of total assets
Worth a look: liabilities are 66% of assets; over 65%.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.0M
-14% vs prior year
Spent
$5.3M
Net assets
$4.2M
By yearFY2020–FY2025
Revenue
$6.0M
FY2021▼ -14%
Tap a bar for its year
Revenue by fiscal year
FY2020$6.9M
FY2021$6.0M
FY2022$6.5M
FY2023$7.2M
FY2024$7.9M
FY2025$7.5M
Expenses
$5.3M
FY2021▼ -19%
Tap a bar for its year
Expenses by fiscal year
FY2020$6.6M
FY2021$5.3M
FY2022$6.6M
FY2023$8.0M
FY2024$7.7M
FY2025$8.2M
Net assets
$4.2M
FY2021▲ +18%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.6M
FY2021$4.2M
FY2022$6.6M
FY2023$5.8M
FY2024$5.9M
FY2025$5.1M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1996.

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

Who runs it and what they're paid

22 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Executive Officer
$240,580Pt VII · Sec A
Chief Lending Officer
$174,432Pt VII · Sec A
Chief Financial Officer
$169,639Pt VII · Sec A
Closing Director
$126,525Pt VII · Sec A
Portfolio Management Director
$124,673Pt VII · Sec A
Lending Director
$117,063Pt VII · Sec A
B:side Fund Director
$113,139Pt VII · Sec A
Past President
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Christopher Myers$429,500$398,750$357,019$341,962$240,580—
Karol Jones$266,718$249,668$237,808$217,108$169,639$149,744
Mike O'Donnell - Through 920—————$260,213
Laurel Walk$257,191$246,801$227,808$214,228$174,432$156,637
Jessica Stutz$166,146$155,028$164,165$149,993$117,063—
Laura Keasling$163,588$146,856$130,627———
Rachel Russell$158,695$133,497————
Marie Peters$154,805$158,009$146,769$135,722$113,139—

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps diverse small businesses grow economically in their communities.

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Provided by the organization

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2 programs · in their own filed words · FY2021
01

The Mission of B

Side capital is to foster the economic growth of diverse small businesses within our communities by achieving and maintaining excellence in the operation and delivery of the us small business administration 504 loan program to small business owners; improving the public visibility of b:side capital so that partners, peers, and customers…

Pt IX · col B
02

The Mission of B

Side capital is to foster the economic growth of diverse small businesses within our communities by providing small businesses with access to capital. This is achieved through the b:side capital community advantage and direct loan programs offering businesses loans up to $250,000 at affordable rates.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 4 grants · $1.1M · 2020–2025
Bside FundCO · FY2025$66,567
Bside FundCO · FY2024$142,651
Bside FundCO · FY2023$795,759
Bside FundCO · FY2020$58,500

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$6.0M
Ln 12
Fees for servicesLn 2g$5.4M
Investment incomeLn 3$420K
Gifts and grantsLn 1h$152K
Money outPt IX
$5.3M
Ln 25
Owns and owesPt X
$4.2M
net assets · Ln 32
Cash and savingsLn 1–2$4.9M
Total assetsLn 16$12.4M
LiabilitiesLn 26$8.1M
PeoplePt VI, VII
22
listed · VII A
PaidVII A7
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$152K
Government grantsLn 1e$152K
Fees for servicesLn 2g$5.4M
Investment incomeLn 3$420K
Gains on assetsLn 7−$711
Total revenueLn 12$6.0M
Assets in detailPt X, end of year
CashLn 1$4.9M
SavingsLn 2$0
Cash and savings togetherLn 1–2$4.9M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$28K
Other assetsLn 15$1.1M
Total assetsLn 16$12.4M
LiabilitiesLn 26$8.1M
Net assetsLn 32$4.2M
OperationsPt I, VI
EmployeesI 549
VolunteersI 697
Fiscal year endsHeaderDecember
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 FY21End FY21
Cash and savingsLn 1–2$3.8M$4.9M
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$1K$28K
Total assetsLn 16$28.8M$12.4M
LiabilitiesLn 26$25.2M$8.1M
Net assetsLn 32$3.6M$4.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$605
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$443K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$3.0M
Pension plan contributionsLn 8$125K
Other employee benefitsLn 9$411K
Payroll taxesLn 10$296K
Management feesLn 11a$0
Legal feesLn 11b$47K
Accounting feesLn 11c$65K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$132K
Advertising and promotionLn 12$55K
Office expensesLn 13$92K
Information technologyLn 14$230K
RoyaltiesLn 15$0
OccupancyLn 16$332K
TravelLn 17$6K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$30K
InterestLn 20$162K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$24K
InsuranceLn 23$105K
Other expenses (24a–d)Ln 24−$382K
All other expensesLn 24e$150K
Total functional expensesLn 25$5.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $7.5M$8.2M−$630K$5.1M 990 PDF
FY2024 $7.9M$7.7M$270K$5.9M 990 PDF
FY2023 $7.2M$8.0M−$732K$5.8M 990 PDF
FY2022 $6.5M$6.6M−$150K$6.6M 990 PDF
FY2021 Viewing $6.0M$5.3M$639K$4.2M 990 PDF
FY2020 $6.9M$6.6M$370K$3.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $5,983,291 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $273,568$151,649
I-9 Program service revenuePrior year $6,049,051$5,411,453
I-10 Investment incomePrior year $611,430$420,189
I-11 Other revenuePrior year $4,750$0
I-12 Total revenuePrior year $6,938,799$5,983,291
I-13 Grants and similar amounts paidPrior year $61,200$605
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,978,852$4,297,042
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,529,048$1,046,754
I-18 Total expensesPrior year $6,569,100$5,344,401
I-19 Revenue less expensesPrior year $369,699$638,890
Part VI · Governance 15 of 15 board members independent, no flags
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-2 Family or business relationship among officers or directorsNo
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 $5,983,291 across 9 lines filed
Lines not itemized here account for $16,169 of total revenue; see the IRS return.
VIII-1e Government grants$151,649
VIII-1h Total contributions, gifts and grants$151,649
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,395,284$5,395,284
VIII-3 Investment incomeExcluded from tax $420,900$420,900
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$711−$711
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $5,411,453 · Unrelated business $0 · Excluded from tax $420,189$5,983,291
Part IX · Statement of functional expenses $5,344,401 across 31 lines filed
IX-1 Grants to domestic organizations$605
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$442,658
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$3,022,708
IX-8 Pension plan contributions$125,084
IX-9 Other employee benefits$410,628
IX-10 Payroll taxes$295,964
IX-11a Management fees$0
IX-11b Legal fees$46,807
IX-11c Accounting fees$64,883
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$131,819
IX-12 Advertising and promotion$55,019
IX-13 Office expenses$92,202
IX-14 Information technology$229,908
IX-15 Royalties$0
IX-16 Occupancy$331,910
IX-17 Travel$5,720
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$29,773
IX-20 Interest$162,108
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$24,369
IX-23 Insurance$104,901
IX-24 Other expenses (24a–d)−$382,217
IX-24e All other expenses$149,552
IX-25 Total functional expenses$5,344,401
Part X · Balance sheet $12,386,604 assets, 24 lines filed
Asset lines not itemized here account for $6,143,503; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,790,438$4,925,623
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $288,236$52,368
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $64,756$116,664
X-10c Land, buildings and equipment, netStart of year $1,313$27,641
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $1,088,841$1,120,805
X-16 Total assetsStart of year $28,804,495$12,386,604
X-17 Accounts payable and accrued expensesStart of year $3,051,237$3,231,879
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $757,948$1,432,093
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $250,758$250,875
X-26 Total liabilitiesStart of year $25,205,505$8,148,724
X-27 Net assets without donor restrictionsStart of year $3,598,990$4,237,880
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $3,598,990$4,237,880
X-33 Total liabilities and net assetsStart of year $28,804,495$12,386,604
Part XI · Reconciliation of net assets $4,237,880 net assets at year end
XI-1 Total revenue$5,983,291
XI-2 Total expenses$5,344,401
XI-3 Revenue less expenses$638,890
XI-4 Net assets at start of year$3,598,990
XI-10 Net assets at end of year$4,237,880

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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