Jedco Development Corporation

Nonprofit profile at a glance

EIN
462750063
IRS 990 coverage
2024–2025
Forms available
Form 990 2025, Form 990-EZ 2023
Location
Avondale, LA, USA
Phone
5048753908
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$350,448
Expenses
$343,268
Assets
$154,349
Liabilities
$136,075

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

People named in this filing

  • ROXANNE AROCHA (MEMBER)
  • JAMES BAUM JR (CHAIRMAN)
  • DARREN CHIFICI (MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide us small business administration (sba) loans to small businesses located within the geographic area of the state of Louisiana by working with the sba and participating private lenders.

What it reported doing in 2025

Certified development companies (cdcs) are non-profit corporations certified and regulated by the small business administration to package, process, close, and service 504 loans. These 504 loans are issued through a partnership with certified development companies (cdc) and private sector, third party lenders. There are a small number of for-profit cdcs that have been grandfathered into the current 504 program. The provisions of this sop apply to the non-profit and the for-profit cdcs in accordance with the terms of the regulations. Jedco development corporation is a cdc in the sba 504 loan program.between 1990 and 2025, jedco development corporation has approved over 208 sba 504 loans and funded 110 sba 504 loans.the finance department is currently staffed by 4 employees of the related governmental entity, jefferson parish economic development & port district. The business development officer meets with applicants, gathers information necessary to complete applications and submits applications to the board of directors of jedco development corporation for approval. The financing operations manager is responsible for coordinating loan closings with borrowers and closing attorneys and submitting closing documents to sba. The loan specialist inputs the loan information into a software program used to monitor loan requirements for the life of the loan, which is typically 20 years.over the life of jedco's sba loan program, 905 job opportunities have been created and 489 job opportunities have been retained. Sba requires that a cdc must have a job opportunity average of 1 job for every $90,000 of debenture funding or $100,000 for projects located in special geographic areas (enterprise communities, empowerment zones, labor surplus areas, and opportunity zones). Jedco has created/retained 1 job for every $47,987.84 of sba funding.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.9%; rating input score 96
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 40.7% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 13.4% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 20% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 95.9% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 11 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $343K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.