Community Investment Collaborative

“The board finance committee meets to review and approve the return before it is submitted.”

“Board members are reminded annually about the conflict of interest policy. The policy is disclosed to all new board members during their orientation period.”

“The board of directors authorizes executive's pay and the overall wages for the organization.”

“The board of directors authorizes executive's pay and the overall wages for the organization.”

“Cic maintains a comprehensive website that describes the organization's mission, governing body, staff, team sponsors, resources, programs, news, calendar of events, and contact information. Additional information is released upon request.”

“Cic provides business education, mentoring and networking opportunities to under-resourced entrepreneurs. The signature education program is a 16 wee entrepreneur workshop that combines case studies, discussion and applied learning. A financial management program helps entrepreneurs develop the bookkeeping, record keeping, and financial analysis skills and habits to better manage their business. Additional programs include mentoring, business office hours, small business circles and our collaborative co-working space. In 2024, 241 clients participated in cic programs. To date: there are 631 graduates of our 16 week workshop, 156 mentor matches, and 103 financial management program participants. To date: those clients have started 185 new businesses, sustained 315 existing businesses and created 416 new full time equivalent jobs.”

“Cic has two core financing programs including a microloan program that provides loans up to 50,000, a micro grants program that helps under- resourced entrepreneurs test their product or services. In 2024, 29 businesses received 1,050,855 in loans and 26 businesses received 35,996 in microgrants. Cic's lifetime total lending to date includes 5.075 million in loans. Additionally, cic partners with local governments and other entities to manage grant programs that provide access to capital to businesses in the region. In 2024, we partnered with entities to provide capital to businesses through grants including 12 businesses received 179,248 in grants through these partnerships. Cic provides loan servicing to loans not on our balance sheet. At the end of 2024, cic managed 48 loans totalling 1,4052,526 for other organizations. This includes 568,704 in loans for partners who participated on cic client loans. Cic also provides loan servicing to another mission driven lender, bridging virginia based out of richmond, va. Cic leverages its capacity as lender to support bridging virginia by managing its loan payments, helping bridging virginia manage 286,413 in new loans in 2024 and supports 483,795 in outstanding balances to to under-resourced entrepreneurs in the richmond area.”

“Networking and ecosystem building: building strong entrepreneurial networks is an underpinning of cic culture. Cic partners with local organizations to offering networking events ranging from market access opportunities at block parties and community fairs to education opportunities through business expos and pitch nights. Partnering organizations include: tom tom founders festival, whole foods market, charlottesville business innovation council, venture central, and the fountain fund. Cic secured funding in 2023 to develop the regional entrepreneurship investment strategy and will lead that work with a partner organization venture central.”

“Book / tax depreciation difference -6”