Civic Intelligence

Wilmington Business Development

990 • Fiscal year 2016 • EIN 56-0636999

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 14, 2016

Organization ProfileWWW.WILMINGTONBUSINESSDEVELOPMENT.COM

View Organization Page

PO Box 1698Wilmington, NC 28402

(910) 763-8414

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

79th percentile

0.46x

Higher debt load relative to assets than 79% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

75th percentile

0.41x

Higher debt load relative to revenue than 75% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Net Margin

79th percentile

13%

Higher net margin than 79% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

95th percentile

$378,439

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 36.1% of source-year revenue.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Asset Growth

81st percentile

16%

Faster asset growth than 81% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

57th percentile

4.6%

Faster revenue growth than 57% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$922,521

Up $129,802 (+16%) from 2015

Net Assets

Up

$494,592

Up $137,709 (+39%) from 2015

Liabilities

Down

$427,929

Down $7,907 (-1.8%) from 2015

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin79th percentile

Revenue

Up

$1,047,095

Up $46,154 (+4.6%) from 2015

Expenses

Up

$909,386

Up $36,800 (+4.2%) from 2015

Net Income

Up

$137,709

Up $9,354 (+7.3%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $455,483Liabilities 2011: $232,639Net Assets 2011: $222,8442011Assets 2012: $503,438Liabilities 2012: $297,241Net Assets 2012: $206,1972012Assets 2013: $560,660Liabilities 2013: $382,124Net Assets 2013: $178,5362013Assets 2014: $658,236Liabilities 2014: $429,708Net Assets 2014: $228,5282014Assets 2015: $792,719Liabilities 2015: $435,836Net Assets 2015: $356,8832015Assets 2016: $922,521Liabilities 2016: $427,929Net Assets 2016: $494,5922016Assets 2017: $916,658Liabilities 2017: $447,918Net Assets 2017: $468,7402017Assets 2018: $993,957Liabilities 2018: $417,716Net Assets 2018: $576,2412018Assets 2019: $1,037,684Liabilities 2019: $454,580Net Assets 2019: $583,1042019Assets 2020: $1,125,393Liabilities 2020: $533,564Net Assets 2020: $591,8292020Assets 2021: $1,358,209Liabilities 2021: $671,564Net Assets 2021: $686,6452021Assets 2022: $1,640,676Liabilities 2022: $708,617Net Assets 2022: $932,0592022Assets 2023: $1,928,213Liabilities 2023: $0Net Assets 2023: $1,928,2132023Assets 2024: $2,193,055Liabilities 2024: $0Net Assets 2024: $2,193,0552024

Highlighted filing

2016

Assets$922,521
Liabilities$427,929
Net Assets$494,592
Open 2016 Filing

Operations Trend

Revenue Growth57th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $754,930Expenses 2011: $866,168Net Income 2011: -$111,2382011Revenue 2012: $810,118Expenses 2012: $826,765Net Income 2012: -$16,6472012Revenue 2013: $876,096Expenses 2013: $903,757Net Income 2013: -$27,6612013Revenue 2014: $987,455Expenses 2014: $937,463Net Income 2014: $49,9922014Revenue 2015: $1,000,941Expenses 2015: $872,586Net Income 2015: $128,3552015Revenue 2016: $1,047,095Expenses 2016: $909,386Net Income 2016: $137,7092016Revenue 2017: $993,102Expenses 2017: $1,018,954Net Income 2017: -$25,8522017Revenue 2018: $1,082,182Expenses 2018: $974,681Net Income 2018: $107,5012018Revenue 2019: $1,109,713Expenses 2019: $1,102,852Net Income 2019: $6,8612019Revenue 2020: $1,079,262Expenses 2020: $1,070,537Net Income 2020: $8,7252020Revenue 2021: $1,081,122Expenses 2021: $986,306Net Income 2021: $94,8162021Revenue 2022: $1,342,071Expenses 2022: $1,096,657Net Income 2022: $245,4142022Revenue 2023: $1,504,050Expenses 2023: $1,309,977Net Income 2023: $194,0732023Revenue 2024: $1,599,774Expenses 2024: $1,334,932Net Income 2024: $264,8422024

Highlighted filing

2016

Revenue$1,047,095
Expenses$909,386
Net Income$137,709
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 14, 2016
Return Version
2015v2.1
Gross Receipts
$1,093,084
Mission and Program Overview

Mission

The organization's mission is to encourage, solicit, advertise and promote the location and operation of industrial and manufacturing establishments within the trade areas of the city of wilmington, and new hanover and pender counties, n. C.

To attract industry to area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$415,202$538,633▲ $123,431
Accounts Receivable$36,652$50,424▲ $13,772
Land, Buildings, and Equipment, Net$36,826$29,204▼ $7,622
Prepaid Expenses and Deferred Charges$4,039$4,260▲ $221
Total Assets$792,719$922,521▲ $129,802
Other Assets Total$300,000$300,000→ $0
Liabilities
Deferred Revenue$331,207$326,457▼ $4,750
Accounts Payable and Accrued Expenses$104,629$101,472▼ $3,157
Total Liabilities$435,836$427,929▼ $7,907
Net Assets / Fund Balance
Unrestricted Net Assets$356,883$494,592▲ $137,709
Total Net Assets Fund Balance$356,883$494,592▲ $137,709
Total Liabilities and Net Assets / Fund Balance$792,719$922,521▲ $129,802

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$29,204$37,662$66,866
Equipment$0$62,381$62,381
Other Assets Org$300,000--
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
R Scott SatterfieldChief Executive Officer/secretaryFT$260,250$118,189$378,439
Billy KingDirector of Business DevelopmentFT$124,506$15,345$139,851

Board Members and Trustees

NameTitle
Dickson McleanChairman
Mike WilkinsonVice Chairman
Bill SaffoDirector
Charles RooksDirector
David WilliamsDirector
Fred SamzDirector
Jack BartoDirector
Jonathan Barfield JrDirector
Ken DullDirector
Mitch KeelDirector
Mitch Lamm JrDirector
Sabrina StephensDirector
Bill CherryTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,014,139
Investment Income
$1,445
Other Revenue
$31,511
Change in Net Assets
$137,709

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,047,095
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,047,095
Total Revenue per Form 990
$1,047,095
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$665,930
Other Expenses$243,456
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$386,736
Other Salaries and Wages---$211,880
Fees for Services Other---$52,895
Occupancy---$38,099
Payroll Taxes---$28,603
Pension Plan Contributions---$20,503
Other Employee Benefits---$18,208
Travel---$18,080
Conferences and Meetings---$16,781
Fees for Services Accounting---$14,000
Depreciation Depletion---$7,622
Insurance---$7,446
Other Expenses---$6,390
All Other Expenses---$6,284
Fees for Services Legal---$1,902
Total Functional Expenses$0$0$0$909,386

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$909,386
Expenses per Audited Statements$909,385
Total Expenses per Audited Statements$909,385
Expenses Not Reported on Financial Statements$1
Other Expense Adjustments$1
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$77,500
Fundraising Direct Expenses$45,989
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$77,500$77,500$21,448$56,052
Total Events$77,500$77,500$45,989$31,511
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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, Part VI, Section B, Line 11

“The form 990 is reviewed by the ceo before it is filed.”

Form 990, Part VI, Section B, Line 12C

“Executive committee of the board of directors annually reviews, monitors and enforces compliance with the conflict of interest policy.”

Form 990, Part VI, Section B, Line 15A

“The ceo's accomplishments and performance is evaluated by the executive committee of the board of directors. A memorandum was prepared by the chairman of the board regarding the ceo's performance review and compensation.”

Form 990, Part VI, Section C, Line 19

“No documents are available to the public.”

Filing and Contact Details

Filer

Filer Name
Wilmington Business Development
EIN
56-0636999
Phone
9107638414
Address
PO BOX 1698, WILMINGTON, NC 28402

Signing Officer

Name
R Scott Satterfield
Title
CEO
Phone
9107638414
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
R Scott Satterfield
Formed
1960
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
13
Employees
4
Volunteers
0

Preparer

Firm
Rsm US Llp
Address
300 NORTH 3RD STREET FIFTH FLOOR, WILMINGTON, NC 28401
Preparer
Hc Craft Iii CPA
Phone
9107629671
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“The organization was a certified development company under section 503 of section 113(a) title v of the small business investment act of 1958. The organization sold debentures guaranteed by the sba and loaned funds derived from the bond sales to qualified small business concerns. As of june 27, 2014, the organization withdrew from the 504 loan program and surrendered its cdc license and authority and 504 loan servicing to the sba. On october 1, 2014, the loan inventory portfolio that the organization serviced was transferred to a successor cdc.”

FORM 990, PART XII, LINE 2C:

“This process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The organization believes that it has appropriate support for any tax postions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“ROUNDING ADJUSTMENT 1.”

Raw XML AppendixShowing 400 of 440 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE ORGANIZATION'S MISSION IS TO ENCOURAGE, SOLICIT, ADVERTISE AND PROMOTE THE LOCATION AND OPERATION OF INDUSTRIAL AND MANUFACTURING ESTABLISHMENTS WITHIN THE TRADE AREAS OF THE CITY OF WILMINGTON, AND NEW HANOVER AND PENDER COUNTIES, N. C.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0356883
IRS990/NetAssetsOrFundBalancesEOYAmt0494592
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt031511
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt031511
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt038099
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0300000
IRS990/OtherAssetsTotalGrp/EOYAmt0300000
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt018208
IRS990/OtherExpensesGrp/Desc0CLIENT & PROGRAM DEVEL.
IRS990/OtherExpensesGrp/Desc1REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc2ADVERTISING
IRS990/OtherExpensesGrp/Desc3TELEPHONE
IRS990/OtherExpensesGrp/TotalAmt052525
IRS990/OtherExpensesGrp/TotalAmt114720
IRS990/OtherExpensesGrp/TotalAmt26712
IRS990/OtherExpensesGrp/TotalAmt36390
IRS990/OtherSalariesAndWagesGrp/TotalAmt0211880
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt028603
IRS990/PensionPlanContributionsGrp/TotalAmt020503
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04039
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04260
IRS990/PrincipalOfficerNm0R SCOTT SATTERFIELD
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/Desc1CONTRACT SERVICES INCO
IRS990/ProgramServiceRevenueGrp/Desc2OTHER MEMBER SUPPORT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0603349
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1388947
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt221843
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0603349
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1388947
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt221843
IRS990/ProgSrvcAccomActy2Grp/Desc0WBD ENDEAVORS TO SUPPORT EXISTING CORPORATE RESIDENTS OF GREATER WILMINGTON AND THE JOBS THEY REPRESENT. KEY INITIATIVES ARE FEEDBACK & INTELLIGENCE GATHERING, LOCATION SERVICE DELIVERY, AND CLUSTER DEVELOPMENT.
IRS990/ProgSrvcAccomActy3Grp/Desc0WBD AGGRESSIVELY DEPLOYS OUTREACH TOOLS IN GLOBALLY SHOWCASING GREATER WILMINGTON AS A DESTINATION FOR HIGH-QUALITY ECONOMIC INVESTORS. KEY INITIATIVES ARE MARKET INTELLIGENCE, LEAD GENERATION & CLIENT DEVELOPMENT, PROJECT MANAGEMENT & TECHNICAL ASSISTANCE, AND PROGRAM PARTICIPATION.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01250
IRS990/PYOtherExpensesAmt0210709
IRS990/PYOtherRevenueAmt028154
IRS990/PYProgramServiceRevenueAmt0971537
IRS990/PYRevenuesLessExpensesAmt0128355
IRS990/PYSalariesCompEmpBnftPaidAmt0661877
IRS990/PYTotalExpensesAmt0872586
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01000941
IRS990/ReconcilationRevenueExpnssAmt0137709
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt062381
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt062381
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt01
IRS990ScheduleD/ExpensesSubtotalAmt0909385
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt029204
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt037662
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt066866
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0300000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CASH DESIGNATED FOR OPERATIONAL RESERVE
IRS990ScheduleD/OtherExpensesNotIncludedAmt01
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01047095
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSTIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ROUNDING ADJUSTMENT 1.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt029204
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0300000
IRS990ScheduleD/TotalExpensesPerForm990Amt0909386
IRS990ScheduleD/TotalRevenuePerForm990Amt01047095
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01047095
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0909385
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesEvent1Amt01950
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesTotalEventsAmt01950
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt045989
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF TOURNAMENT
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt077500
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt077500
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt077500
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt077500
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt031511
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent1Amt022591
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesTotalEventsAmt022591
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt021448
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt021448
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0260250
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount038697
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt027363
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt028129
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt024000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0R SCOTT SATTERFIELD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF EXECUTIVE OFFICER/SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0378439
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION WAS A CERTIFIED DEVELOPMENT COMPANY UNDER SECTION 503 OF SECTION 113(A) TITLE V OF THE SMALL BUSINESS INVESTMENT ACT OF 1958. THE ORGANIZATION SOLD DEBENTURES GUARANTEED BY THE SBA AND LOANED FUNDS DERIVED FROM THE BOND SALES TO QUALIFIED SMALL BUSINESS CONCERNS. AS OF JUNE 27, 2014, THE ORGANIZATION WITHDREW FROM THE 504 LOAN PROGRAM AND SURRENDERED ITS CDC LICENSE AND AUTHORITY AND 504 LOAN SERVICING TO THE SBA. ON OCTOBER 1, 2014, THE LOAN INVENTORY PORTFOLIO THAT THE ORGANIZATION SERVICED WAS TRANSFERRED TO A SUCCESSOR CDC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE CEO BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS ANNUALLY REVIEWS, MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CEO'S ACCOMPLISHMENTS AND PERFORMANCE IS EVALUATED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. A MEMORANDUM WAS PREPARED BY THE CHAIRMAN OF THE BOARD REGARDING THE CEO'S PERFORMANCE REVIEW AND COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS ARE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd01
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0792719
IRS990/TotalAssetsEOYAmt0922521
IRS990/TotalAssetsGrp/BOYAmt0792719
IRS990/TotalAssetsGrp/EOYAmt0922521
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/TotalAmt0909386
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0435836
IRS990/TotalLiabilitiesEOYAmt0427929
IRS990/TotalLiabilitiesGrp/BOYAmt0435836
IRS990/TotalLiabilitiesGrp/EOYAmt0427929
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0356883
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0494592
IRS990/TotalOtherCompensationAmt070837
IRS990/TotalProgramServiceRevenueAmt01014139
IRS990/TotalReportableCompFromOrgAmt0447453
IRS990/TotalRevenueGrp/ExclusionAmt032956
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01014139
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01047095
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0792719
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0922521
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt018080

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$922,521
Liabilities
$427,929
Net assets
$494,592
Revenue
$1,047,095
Expenses
$909,386
Net income
$137,709
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.19$0.00$2.19$1.60$1.33$0.26
2023Detailed filing. Detailed filing data is available for this year.$1.93$0.00$1.93$1.50$1.31$0.19
2022Detailed filing. Detailed filing data is available for this year.$1.64$0.71$0.93$1.34$1.10$0.25
2021Detailed filing. Detailed filing data is available for this year.$1.36$0.67$0.69$1.08$0.99$0.09
2020Detailed filing. Detailed filing data is available for this year.$1.13$0.53$0.59$1.08$1.07$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.04$0.45$0.58$1.11$1.10$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.99$0.42$0.58$1.08$0.97$0.11
2017Detailed filing. Detailed filing data is available for this year.$0.92$0.45$0.47$0.99$1.02$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.92$0.43$0.49$1.05$0.91$0.14
2015Detailed filing. Detailed filing data is available for this year.$0.79$0.44$0.36$1.00$0.87$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.66$0.43$0.23$0.99$0.94$0.05
2013Summary only. Only limited summary data is available for this year.$0.56$0.38$0.18$0.88$0.90$0.03
2012Summary only. Only limited summary data is available for this year.$0.50$0.30$0.21$0.81$0.83$0.02
2011Summary only. Only limited summary data is available for this year.$0.46$0.23$0.22$0.75$0.87$0.11