Civic Intelligence

Redc Community Capital Group Inc

EIN 54-1757884 • 501(c)3

View Organization Page

Profile

To promote economic and community development by providing financing and services to small businesses in order to create jobs and increase the flow of credit and capital into targeted low income communities.

413 Stuart Circle Suite 32023220

www.redccommunitycapital.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

98th percentile

2.36x

Higher debt load relative to assets than 98% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

96th percentile

2.69x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

6th percentile

-65%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

97th percentile

$67,559

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 13.0% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

4th percentile

-62%

Faster asset growth than 4% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

29th percentile

-5.9%

Faster revenue growth than 29% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$590,090

Down $965,338 (-62%) from 2013

Liabilities

Up

$1,391,718

Up $80,565 (+6.1%) from 2013

Net Assets

Down

-$801,628

Down $1,045,903 (-428%) from 2013

Operations
Liabilities / Revenue96th percentileNet Margin6th percentile

Revenue

Down

$518,224

Down $32,210 (-5.9%) from 2013

Expenses

Down

$856,578

Down $278,875 (-25%) from 2013

Net Income

Up

-$338,354

Up $246,665 (+42%) from 2013

Trend Graphs

Balance Sheet Trend

Asset Growth4th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $5,913,479Liabilities 2011: $4,095,844Net Assets 2011: $1,817,6352011Assets 2012: $4,428,963Liabilities 2012: $3,599,669Net Assets 2012: $829,2942012Assets 2013: $1,555,428Liabilities 2013: $1,311,153Net Assets 2013: $244,2752013Assets 2014: $590,090Liabilities 2014: $1,391,718Net Assets 2014: -$801,6282014

Highlighted filing

2014

Assets$590,090
Liabilities$1,391,718
Net Assets-$801,628
Open 2014 Filing

Operations Trend

Revenue Growth29th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0MExpenses 2011: $1,855,4392011Expenses 2012: $1,925,2672012Revenue 2013: $550,434Expenses 2013: $1,135,453Net Income 2013: -$585,0192013Revenue 2014: $518,224Expenses 2014: $856,578Net Income 2014: -$338,3542014

Highlighted filing

2014

Revenue$518,224
Expenses$856,578
Net Income-$338,354
Open 2014 Filing

Filings

Most recent year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$590,090
Liabilities
$1,391,718
Net assets
-$801,628
Revenue
$518,224
Expenses
$856,578
Net income
-$338,354
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$0.59$1.39$0.80$0.52$0.86$0.34
2013Summary only. Only limited summary data is available for this year.$1.56$1.31$0.24$0.55$1.14$0.59
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.43$3.60$0.83$1.93
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.91$4.10$1.82$1.86
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 14, 2015
Return Version
2013v4.0
Gross Receipts
$518,224
Mission and Program Overview

Mission

To promote economic and community development by providing financing and services to small businesses in order to create jobs and increase the flow of credit and capital into targeted low income communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$756,550$523,019▼ $233,531
Investments in Publicly Traded Securities-$28,652-
Savings and Temporary Cash Investments$98,093$15,544▼ $82,549
Land, Buildings, and Equipment, Net$22,350$2,794▼ $19,556
Prepaid Expenses and Deferred Charges$970--
Accounts Receivable$55,299$125▼ $55,174
Cash and Non-Interest-Bearing Accounts$79,349$54▼ $79,295
Total Assets$1,032,513$590,090▼ $442,423
Other Assets Total$19,902$19,902→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,353,347$1,067,898▼ $285,449
Accounts Payable and Accrued Expenses$128,192$322,080▲ $193,888
Unsecured Notes Loans Payable$14,248$1,740▼ $12,508
Total Liabilities$1,495,787$1,391,718▼ $104,069
Net Assets / Fund Balance
Unrestricted Net Assets$-463,274$-801,628▼ $338,354
Total Net Assets Fund Balance$-463,274$-801,628▼ $338,354
Total Liabilities and Net Assets / Fund Balance$1,032,513$590,090▼ $442,423

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,590$117,047$120,637
Leasehold Improvements$-796$102,228$101,432
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Randolph R SheltonPresident &FT$67,559$67,559

Board Members and Trustees

NameTitle
Richard T RileyChairman
Garland W CurtisVice Chairma
Ayanna N JamesDirector
Barry MooreDirector
Gopinath JadhavDirector
Karen AlywardDirector
Matthew SteilbergDirector
Mirta M MartinDirector
Philip Thompson SrDirector
C Renee Wyatt-chaplineSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$407,809
Program Service Revenue
$110,213
Investment Income
$2
Other Revenue
$200
All Other Contributions
$213,651
Change in Net Assets
$-338,354

Audited Revenue Reconciliation

Revenue per Audited Statements
$518,224
Total Revenue per Audited Statements
$518,224
Total Revenue per Form 990
$518,224
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$542,008
Salaries, Compensation, and Employee Benefits$314,570
Total Fundraising Expense$6,599
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$199,918$19,858$3,309$223,085
Interest$163,281--$163,281
Occupancy$101,115$5,378$1,076$107,569
Other Employee Benefits$70,523$2,558$427$73,508
Fees for Services Other$40,726--$40,726
Office Expenses$37,215$2,257$452$39,924
Depreciation Depletion$18,381$978$195$19,554
Advertising$17,409$939$188$18,536
Fees for Services Legal$18,484--$18,484
Fees for Services Accounting$14,890$2,529$506$17,925
Payroll Taxes$15,486$999$167$16,652
Insurance$5,936$316$63$6,315
Conferences and Meetings$3,287$174$36$3,497
Pension Plan Contributions$1,325--$1,325
All Other Expenses$1,218--$1,218
Other Expenses$518$901$180$518
Total Functional Expenses$813,092$36,887$6,599$856,578

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$856,578
Total Expenses per Audited Statements$856,578
Total Expenses per Form 990$856,578
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by the president and chief financial officer prior to filing.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors approves compensation and incentive payments for the ceo and other senior officers annually in may of each year when it approves and adopts the annual operating and capital budgets. The annual performance review of senior officers is done in executive session of the board and the level of compensation is based upon the organization's operating performance, the quality and performance of our loan portfolio, as well as external comparisons of compensation being made by other certified community development financial institutions (cdfis).”

Form 990, Page 6, Part VI, Line 19

“Financial statements are available to the public on the organization's website.”

Filing and Contact Details

Filer

EIN
54-1757884
Phone
8047803013

Signing Officer

Name
Randolph R Shelton
Title
President & CEO
Phone
8047803013
Signed
2015-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randolph R Shelton
Formed
1995
Legal Domicile
Va
Voting Board Members
11
Independent Board Members
11
Employees
6

Preparer

Preparer
Tim R Harris
Phone
8045600560
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The corporation applies financial accounting standards board (fasb) guidance related to accounting for uncertainty in income taxes, which clarifies the accounting for income taxes by prescribing the minimum recognition threshold that a tax position is required to meet before being recognized in the financial statements. The standard also provides guidance on penalties and interest, classification, and disclosure. The corporation has not identified any uncertain tax positions. The corporation's income tax returns for years 2011, 2012, and 2013 remain open for examination by tax authorities.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION APPLIES FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) GUIDANCE RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR INCOME TAXES BY PRESCRIBING THE MINIMUM RECOGNITION THRESHOLD THAT A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. THE STANDARD ALSO PROVIDES GUIDANCE ON PENALTIES AND INTEREST, CLASSIFICATION, AND DISCLOSURE. THE CORPORATION HAS NOT IDENTIFIED ANY UNCERTAIN TAX POSITIONS. THE CORPORATION'S INCOME TAX RETURNS FOR YEARS 2011, 2012, AND 2013 REMAIN OPEN FOR EXAMINATION BY TAX AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE PRESIDENT AND CHIEF FINANCIAL OFFICER PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS APPROVES COMPENSATION AND INCENTIVE PAYMENTS FOR THE CEO AND OTHER SENIOR OFFICERS ANNUALLY IN MAY OF EACH YEAR WHEN IT APPROVES AND ADOPTS THE ANNUAL OPERATING AND CAPITAL BUDGETS. THE ANNUAL PERFORMANCE REVIEW OF SENIOR OFFICERS IS DONE IN EXECUTIVE SESSION OF THE BOARD AND THE LEVEL OF COMPENSATION IS BASED UPON THE ORGANIZATION'S OPERATING PERFORMANCE, THE QUALITY AND PERFORMANCE OF OUR LOAN PORTFOLIO, AS WELL AS EXTERNAL COMPARISONS OF COMPENSATION BEING MADE BY OTHER CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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