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CDC Small Business Finance Corporation
CDC Small Business Finance Corporation reported $41.5 million in revenue and $37.5 million in expenses for calendar year 2025. Of every $100 it spent, $58.31 went to program services, $41.69 to management and general costs and $0.00 to fundraising. Its largest source of revenue was investment income: 55.3% of the total. The highest compensation it reported for one person was $1,227,484 (PRESIDENT & CEO). 70 people received more than $100,000 in reportable compensation. Revenue rose 27% between FY2020 and 2025. Source: Form 990, 2025.
Where $100 of spending went
Calendar year 2025 · Form 990, Part IX, line 25 · total expenses $38MFor context, the median across 479 covered community improvement & capacity building charities: $90.45 programs, $9.31 management, $0.24 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2025 · Form 990, Part VIII · total revenue $41MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 58.3% | 89.1% |
| Management & general Part IX 25(C) ÷ 25(A) | 41.7% | 9.2% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 2.9% | 80.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 14.9% |
| Program service revenue share Part VIII 2g ÷ 12 | 30.7% | 11.9% |
| Highest reported compensation Part VII-A, columns D–F | $1,227,484 | $291,103 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.27% | 1.49% |
| People paid over $100,000 Part VII, line 2 | 70 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 22.7 | 9.2 |
| Independent voting board members Part VI 1a–1b | 15 of 16 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2025 · Form 990, Part III · the three largest programs by expenseCommunity loan programs: cdc originates, services, and sells loans guaranteed by the sba under its community advantage 7a program. These loans are used by the borrowers for a variety of purposes and are capped at $350,000 per loan. Cdc also administers several lending programs including the sba microloan program, a state sponsored community adjustment and investment loan program, la direct and fast to fund, california rebuilding fund, activate detroit, and motor city contractors fund, all of which are designed to provide loans to small businesses
Sba section 504 loan program: cdc's primary source of revenue is the servicing and processing of the Small Business administration's ("sba") 504 loan programs. The 504 loan program provides long-term, fixed rate financing for major fixed assets that promote business growth and job creation
Highest reported compensation
2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Director/trustee, officer, 20.00 hrs/week | $0 | $1,192,484 | $35,000 | $1,227,484 |
| CHIEF FINANCIAL OFFICER Officer, 20.00 hrs/week | $0 | $481,202 | $71,793 | $552,995 |
| SR. ADV FOR LENDING EDU & TRAINING Highest compensated employee, 40.00 hrs/week | $479,059 | $0 | $43,816 | $522,875 |
| GENERAL COUNSEL Officer, 20.00 hrs/week | $0 | $422,879 | $62,500 | $485,379 |
| CHIEF OPERATING OFFICER Officer, 20.00 hrs/week | $0 | $393,320 | $41,160 | $434,480 |
| SENIOR DIRECTOR OF FINANCE Officer, 20.00 hrs/week | $0 | $350,910 | $61,475 | $412,385 |
| CHIEF HUMAN RESOURCE OFFICER Officer, 20.00 hrs/week | $0 | $351,090 | $46,740 | $397,830 |
| HEAD OF COMMERCIAL REAL ES Key employee, 40.00 hrs/week | $296,740 | $0 | $41,100 | $337,840 |
70 people received more than $100,000 in reportable compensation from CDC Small Business Finance Corporation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $338K (Part IX, line 5).
7 filings since FY2020
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b16 · 15 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5172
Largest outside contractors
2025 · Form 990, Part VII, Section B · businesses only| WHITE CONSTRUCTION Construction | $705,726 |
| LENDERS COOPERATIVE Development services | $588,574 |
| TODD E KOBERNICK Legal services | $324,868 |
| ALDRIDGE PITE LLP Foreclosure expenses | $163,309 |
| LIEN SOLUTIONS Lien searches | $133,574 |
Individuals listed as contractors are left out. 7 contractors were paid more than $100,000 in all.
Private foundation grants it received
1 private foundation reported grants to CDC Small Business Finance Corporation totaling $10,000 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from CDC Small Business Finance Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for CDC Small Business Finance Corporation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 CDC Small Business Finance Corporation spent in 2025, $58.31 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Imagine WorldwideMill Valley, CA · revenue $41M · programs 95.1% · 2024
- The Center for Strategic Economic Studies and Institutional DevelopmentLos Angeles, CA · revenue $43M · programs 98.2% · 2025
- Connecticut Institute for CommunitiesDanbury, CT · revenue $41M · programs 90.8% · 2024
- Phoebe ServicesAllentown, PA · revenue $43M · programs 93.2% · FY2025
- Citizens for CitizensFall River, MA · revenue $41M · programs 94.8% · FY2025
All community improvement & capacity building charities · Largest charities in California
Questions people ask
How much of CDC Small Business Finance Corporation's spending goes to programs?
In calendar year 2025, CDC Small Business Finance Corporation reported that 58.3% of its $37.5 million in expenses went to program services, 41.7% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does CDC Small Business Finance Corporation pay its top executive?
The largest total compensation CDC Small Business Finance Corporation reported for one person in calendar year 2025 was $1,227,484, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does CDC Small Business Finance Corporation get its money?
Of $41.5 million in revenue in calendar year 2025, 2.9% came from contributions and grants and 30.7% from program service revenue (Form 990, Part VIII).
Is CDC Small Business Finance Corporation a registered charity?
The IRS lists EIN 95-3512045 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024, 2025. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2025: Form 990 for calendar year 2025, object 202602679349301900 · read the filing
- 2024: Form 990 for calendar year 2024, object 202512699349301326 · read the filing
- 2023: Form 990 for calendar year 2023, object 202412709349301421 · read the filing
- 2022: Form 990 for calendar year 2022, object 202342839349301764 · read the filing
- 2021: Form 990 for calendar year 2021, object 202242699349300029 · read the filing
- FY2020 (3 mo.): Form 990 for the 3-month short period ending December 31, 2020, object 202113349349300426 · read the filing
- FY2020: Form 990 for the fiscal year ending September 30, 2020, object 202201809349300030 · read the filing
All filings for EIN 95-3512045: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.