Greater Sacramento Certified Development Corporation

The Greater Sacramento Certified Development Corporation is a nonprofit organization registered as a 501(c)(4) entity, specializing in promoting economic growth and employment opportunities across California. It serves as a certified development organization authorized by the U.S. Small Business Administration (SBA).

Mission and Activities

The mission of the Greater Sacramento Certified Development Corporation is to foster employment, stimulate economic development, and assist in the growth and development of businesses throughout California. The corporation primarily administers the SBA-504 loan program, which provides financing to businesses, with a focus on those located in underprivileged or rural communities and/or owned by underrepresented groups such as women, minorities, veterans, and individuals with disabilities.

Financial Operations

As of recent records, the corporation's revenue is primarily derived from program services. In 2021, program services accounted for approximately 98.2% of its total revenue. The organization does not receive contributions and does not engage in professional fundraising activities. It maintains a strong financial foundation, with a substantial amount of total assets.

Governance and Leadership

The Executive Director of the corporation is Raymond Sebastian, who leads the organization in fulfilling its mission objectives. The corporation also has a board of directors that includes several members, though specific roles and compensation for most directors are not publicly detailed.

501(c)(4) Status and Tax Implications

As a 501(c)(4) organization, the Greater Sacramento Certified Development Corporation is classified as a civic league or social welfare organization. Unlike some other nonprofit designations, donations to this organization are not tax-deductible.

SBA-504 Loan Program

The SBA-504 loan program, administered by the corporation, offers financing options for businesses looking to acquire real estate or equipment. This program allows businesses to secure a significant portion of their project costs through fixed-rate, long-term loans, which can be particularly beneficial for small businesses and those in underserved communities.

Impact on Economic Development

Through its activities, the Greater Sacramento Certified Development Corporation plays a crucial role in supporting small businesses and contributing to California's overall economic development. By providing access to financing, the organization helps businesses grow and create jobs, especially in communities that may face barriers to traditional financing options.

NTEE Classification

The corporation is categorized under NTEE code S20Z, which pertains to community improvement efforts. Its focus on promoting community welfare and economic development aligns with this classification.

Overall, the Greater Sacramento Certified Development Corporation is a vital resource for businesses in California, working to enhance economic opportunities through accessible financing and community development initiatives.