Civic Intelligence

Avista Business Development Corp

EIN 56-1326727 • 501(c)6 • Weaverville, NC

Profile

To promote economic development and revitalization by providing small business administration loans and other programs and services to businesses in western north carolina.

PO Box 2677Weaverville, NC 28787

www.avistabdc.com

Siviq Scores

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

Liabilities / Assets

68th percentile

0.05x

Higher debt load relative to assets than 68% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

74th percentile

0.07x

Higher debt load relative to revenue than 74% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2016

Net Margin

34th percentile

-7.8%

Higher net margin than 34% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2016

Top Officer Pay

99th percentile

$80,478

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 31.5% of source-year revenue.

501(c)6 • <$500k nonprofits • Source year 2016

Asset Growth

40th percentile

-6.2%

Faster asset growth than 40% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

61st percentile

7.2%

Faster revenue growth than 61% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Down

$0

Down $376,273 (-100%) from 2016

Liabilities

Down

$0

Down $17,380 (-100%) from 2016

Net Assets

Down

$0

Down $358,893 (-100%) from 2016

Revenue

Down

$71,339

Down $184,375 (-72%) from 2016

Expenses

Up

$430,232

Up $154,565 (+56%) from 2016

Net Income

Down

-$358,893

Down $338,940 (-1699%) from 2016

Trend Graphs

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2010: $315,815Liabilities 2010: $20,000Net Assets 2010: $295,8152010Assets 2011: $432,267Liabilities 2011: $98,902Net Assets 2011: $333,3652011Assets 2012: $504,668Liabilities 2012: $185,694Net Assets 2012: $318,9742012Assets 2013: $348,336Liabilities 2013: $9,920Net Assets 2013: $338,4162013Assets 2014: $386,918Liabilities 2014: $10,750Net Assets 2014: $376,1682014Assets 2015: $401,216Liabilities 2015: $22,370Net Assets 2015: $378,8462015Assets 2016: $376,273Liabilities 2016: $17,380Net Assets 2016: $358,8932016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2017

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$600K$400K$200K$0-$200K-$400KRevenue 2010: $337,493Expenses 2010: $304,406Net Income 2010: $33,0872010Expenses 2011: $247,3262011Expenses 2012: $341,9122012Revenue 2013: $338,311Expenses 2013: $318,869Net Income 2013: $19,4422013Revenue 2014: $334,389Expenses 2014: $296,637Net Income 2014: $37,7522014Revenue 2015: $238,541Expenses 2015: $235,863Net Income 2015: $2,6782015Revenue 2016: $255,714Expenses 2016: $275,667Net Income 2016: -$19,9532016Revenue 2017: $71,339Expenses 2017: $430,232Net Income 2017: -$358,8932017

Highlighted filing

2017

Revenue$71,339
Expenses$430,232
Net Income-$358,893

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2016 to May 31, 2017
Signed
Aug 3, 2017
Return Version
2016v3.0
Gross Receipts
$73,515
Mission and Program Overview

Mission

To promote economic development and revitalization by providing small business administration loans and other programs and services to businesses in western north carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$367,657--
Rtn Earn Endowment Incm Other Fnds$358,893--
Prepaid Expenses and Deferred Charges$6,135--
Land, Buildings, and Equipment, Net$2,481--
Total Assets$376,273$0▼ $376,273
Liabilities
Escrow Account Liability$17,380--
Total Liabilities$17,380$0▼ $17,380
Net Assets / Fund Balance
Total Net Assets Fund Balance$358,893$0▼ $358,893
Total Liabilities and Net Assets / Fund Balance$376,273$0▼ $376,273
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert KendrickChief ExecutFT$193,012$8,192$201,204
Robert KendrickChief Executive-$70,000$131,204$201,204
Laura GourlayDirector-$705-$705
Ac Honeycutt JrDirector-$405-$405
Wes MorganDirector-$405-$405
Carol HensleyDirector-$390-$390
David KozakChairman-$390-$390
T Jeff CovingtonImmediate Pa-$390-$390
Harry GrymesDirector-$375-$375
Bob TuckVice Chairma-$360-$360
Jim EdwardsDirector-$330-$330
Rollin GrosecloseSecretary/ T-$315-$315
Kevin WatsonDirector-$255-$255
William GoacherDirector-$255-$255
John MenkesDirector-$240-$240
Daniel HitchcockLegal Counse-$225-$225
Brad RogersDirector-$180-$180
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$73,309
Investment Income
$-1,970
Other Revenue
$0
Change in Net Assets
$-358,893
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$201,516
Grants and Similar Amounts Paid$200,234
Other Expenses$28,482
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$200,234--$200,234
Current Officers, Directors, Trustees, and Key Employees$107,857$37,683-$145,540
Other Salaries and Wages$27,965$11,985-$39,950
Payroll Taxes$6,568$2,815-$9,383
Fees for Services Accounting-$7,344-$7,344
Pension Plan Contributions$4,650$1,993-$6,643
Insurance-$6,488-$6,488
Occupancy-$5,500-$5,500
Advertising$3,378--$3,378
Travel$956--$956
Office Expenses$287$55-$342
Fees for Services Other-$323-$323
Other Expenses$307--$307
Depreciation Depletion$305--$305
Fees for Services Legal$274--$274
All Other Expenses$208--$208
Total Functional Expenses$356,046$74,186$0$430,232
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mountain Bizcapital IncAsheville, NC501c3Economic Development$74,547
Hatch Avl FoundationAsheville, NC501c3Economic Development$50,000
Natural Capital Investment FundShepherdstown, WV501c3Economic Development$30,000
Wnc Housing PartnershipRutherfordton, NC501c3Economic Development$20,000
The Score FoundationWashington, DC501c3Economic Development$10,000
Asheville Community TheaterAsheville, NC501c3Economic Development-
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
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Cheryl KendrickWife of Pr/ceoSalary and BenefitsNo$41,685
Cheryl KendrickWife of Pr/ceoOccupancyNo$5,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
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 7A

The board of directors are elected from the membership, by the membership.

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

The 990 is reviewed and approved by management, treasurer, and the board efore issuance.

Form 990, Page 6, Part VI, Line 12C

Certain constraints apply to avista decisions on lending and all members must disclose all business relationships.

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

Compensation for the ceo is set by the board of directors and is included in the annual budget approval process. An employment contract is obtained each year between avista and robert kendrick as chief executive officer to determine base salary and commission, which is based on processing fees earned from funded loans. The national association of development corporations periodically prepares a wage and benefit survey that the officers of the corporation review in support of the terms in the employment contract as being reasonable and customary.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Avista Business Development Corp
EIN
56-1326727
Phone
8286452906
Address
PO BOX 2677, WEAVERVILLE, NC 28787

Signing Officer

Name
Robert Kendrick
Title
Chief Executive
Phone
8286452906
Signed
2017-08-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Kendrick
Formed
1982
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
3

Preparer

Firm
Gould Killian CPA Group Pa
Address
100 COXE AVE, ASHEVILLE, NC 28801-2354
Preparer
Shon P Norris CPA
Phone
8282580363
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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/PensionPlanContributionsGrp/ProgramServicesAmt04650
IRS990/PensionPlanContributionsGrp/TotalAmt06643
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt06135
IRS990/PrincipalOfficerNm0ROBERT KENDRICK
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522299
IRS990/ProgramServiceRevenueGrp/BusinessCd1522299
IRS990/ProgramServiceRevenueGrp/Desc0LOAN SERVICE FEES
IRS990/ProgramServiceRevenueGrp/Desc1LOAN PROCESSING FEES
IRS990/ProgramServiceRevenueGrp/Desc2ENVIRONMENTAL REPORT REIMBURS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt048600
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt123519
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21190
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt048600
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt123519
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21190
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt024923
IRS990/PYOtherExpensesAmt056971
IRS990/PYProgramServiceRevenueAmt0230791
IRS990/PYRevenuesLessExpensesAmt0-19953
IRS990/PYSalariesCompEmpBnftPaidAmt0218696
IRS990/PYTotalExpensesAmt0275667
IRS990/PYTotalRevenueAmt0255714
IRS990/ReconcilationRevenueExpnssAmt0-358893
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt073309
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0358893
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0367657
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/CashGrantAmt150000
IRS990ScheduleI/RecipientTable/CashGrantAmt220000
IRS990ScheduleI/RecipientTable/CashGrantAmt330000
IRS990ScheduleI/RecipientTable/CashGrantAmt474547
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc5501C3
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt010687
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0PRINTER/COPIER
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0THE SCORE FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1HATCH AVL FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2WNC HOUSING PARTNERSHIP
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3NATURAL CAPITAL INVESTMENT FUND
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4MOUNTAIN BIZCAPITAL INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5ASHEVILLE COMMUNITY THEATER
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01825 CONNECTICUT AVE NW SUITE 503
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1PO BOX 5199
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2PO BOX 841
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt31098 TURNER RD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4153 S LEXINGTON AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt535 E WALNUT ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WASHINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1ASHEVILLE
IRS990ScheduleI/RecipientTable/USAddress/CityNm2RUTHERFORDTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm3SHEPHERDSTOWN
IRS990ScheduleI/RecipientTable/USAddress/CityNm4ASHEVILLE
IRS990ScheduleI/RecipientTable/USAddress/CityNm5ASHEVILLE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0DC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3WV
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd020009
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd428801
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd528801
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0SALES/COMP
IRS990ScheduleI/Total501c3OrgCnt0200234
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt070000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount032402
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt08192
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt090610
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ROBERT KENDRICK
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF EXECUTIVE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0201204
IRS990ScheduleJ/SeverancePaymentInd0true
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0ROBERT KENDRICK 90,610 0 0
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PAGE 1, PART I, LINE 4
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0CHERYL KENDRICK
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1CHERYL KENDRICK
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0WIFE OF PR/CEO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1WIFE OF PR/CEO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt05500
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt141685
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0OCCUPANCY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1SALARY AND BENEFITS
IRS990ScheduleN/AssetsDistributedInd0true
IRS990ScheduleN/BondsOutstandingInd0false
IRS990ScheduleN/DirectorOfSuccessorInd0false
IRS990ScheduleN/EmployeeOfSuccessorInd0false
IRS990ScheduleN/LiabilitiesPaidInd0true
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc5COPIER
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc6CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0THE SCORE FOUNDATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1HATCH AVL FOUNDATION

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