Civic Intelligence

Belmont Community Development Corp

990 • Fiscal year 2017 • EIN 56-1708764

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

Organization Profilebelmontcdc.org
PO Box 33051Charlotte, NC 28233

(704) 335-0450

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.21x

Higher debt load relative to assets than 62% of similar nonprofits.

2017 filings • NTEE S • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

84th percentile

0.57x

Higher debt load relative to revenue than 84% of similar nonprofits.

2017 filings • NTEE S • $500k-$1M nonprofits • Source year 2017

Net Margin

70th percentile

12%

Higher net margin than 70% of similar nonprofits.

2017 filings • NTEE S • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

62nd percentile

$71,407

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 34.8% of source-year revenue.

2017 filings • NTEE S • $500k-$1M nonprofits • Source year 2017

Asset Growth

18th percentile

-11%

Faster asset growth than 18% of similar nonprofits.

2017 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

94th percentile

140%

Faster revenue growth than 94% of similar nonprofits.

2017 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Down

$569,254

Down $68,507 (-11%) from 2016

Net Assets

Up

$451,208

Up $23,788 (+5.6%) from 2016

Liabilities

Down

$118,046

Down $92,295 (-44%) from 2016

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin70th percentile

Revenue

Up

$205,332

Up $119,772 (+140%) from 2016

Expenses

Down

$181,544

Down $18,859 (-9.4%) from 2016

Net Income

Up

$23,788

Up $138,631 (+121%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$800K$600K$400K$200K$0Assets 2010: $233,605Liabilities 2010: $62,102Net Assets 2010: $171,5032010Assets 2011: $329,968Liabilities 2011: $144,223Net Assets 2011: $185,7452011Assets 2012: $547,782Liabilities 2012: $46,632Net Assets 2012: $501,1502012Assets 2013: $447,813Liabilities 2013: $44,973Net Assets 2013: $402,8402013Assets 2014: $645,245Liabilities 2014: $12,853Net Assets 2014: $632,3922014Assets 2015: $584,549Liabilities 2015: $42,286Net Assets 2015: $542,2632015Assets 2016: $637,761Liabilities 2016: $210,341Net Assets 2016: $427,4202016Assets 2017: $569,254Liabilities 2017: $118,046Net Assets 2017: $451,2082017Assets 2018: $546,715Liabilities 2018: $63,151Net Assets 2018: $483,5642018Assets 2019: $621,016Liabilities 2019: $163,236Net Assets 2019: $457,7802019Assets 2020: $657,337Liabilities 2020: $249,345Net Assets 2020: $407,9922020Assets 2021: $298,080Liabilities 2021: $71,471Net Assets 2021: $226,6092021Assets 2022: $151,522Liabilities 2022: $69,176Net Assets 2022: $82,3462022

Highlighted filing

2017

Assets$569,254
Liabilities$118,046
Net Assets$451,208
Open 2017 Filing

Operations Trend

Revenue Growth94th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $197,5722010Expenses 2011: $176,2042011Expenses 2012: $217,8292012Revenue 2013: $148,986Expenses 2013: $243,220Net Income 2013: -$94,2342013Revenue 2014: $422,219Expenses 2014: $192,667Net Income 2014: $229,5522014Revenue 2015: $107,319Expenses 2015: $197,448Net Income 2015: -$90,1292015Revenue 2016: $85,560Expenses 2016: $200,403Net Income 2016: -$114,8432016Revenue 2017: $205,332Expenses 2017: $181,544Net Income 2017: $23,7882017Revenue 2018: $252,387Expenses 2018: $220,031Net Income 2018: $32,3562018Revenue 2019: $165,221Expenses 2019: $191,005Net Income 2019: -$25,7842019Revenue 2020: $127,190Expenses 2020: $176,978Net Income 2020: -$49,7882020Revenue 2021: $39,782Expenses 2021: $221,165Net Income 2021: -$181,3832021Revenue 2022: $38,294Expenses 2022: $182,557Net Income 2022: -$144,2632022

Highlighted filing

2017

Revenue$205,332
Expenses$181,544
Net Income$23,788
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.2
Gross Receipts
$784,827
Mission and Program Overview

Mission

The mission of Belmont CDC is to preserve the historic integrity of the Belmont neighborhood of Charlotte, North Carolina and surrounding areas, utilizing traditional and non-traditional methods of community economic development. The goal of Belmont CDC is to provide affordable housing, educational, and living wage employment opportunities; business and entrepreneurship development, elderly housing, services for low-to-moderate-income residents, and ensure full access to and participation in the economic revitalization of the community.

To preserve the historic integrity of Belmont neighborhood and surrounding areas, utilizing traditional and non-traditional methods of community economic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$149,650$311,469▲ $161,819
Cash and Non-Interest-Bearing Accounts$212,138$137,659▼ $74,479
Investments Program Related$29,387$29,387→ $0
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$637,761$569,254▼ $68,507
Other Assets Total$246,586$90,739▼ $155,847
Liabilities
Mortgage Notes Payable Secured by Investment Property$183,030$106,798▼ $76,232
Accounts Payable and Accrued Expenses$27,311$11,248▼ $16,063
Total Liabilities$210,341$118,046▼ $92,295
Net Assets / Fund Balance
Unrestricted Net Assets$427,420$451,208▲ $23,788
Total Net Assets Fund Balance$427,420$451,208▲ $23,788
Total Liabilities and Net Assets / Fund Balance$637,761$569,254▼ $68,507

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$27,462$27,462
Other Land Buildings-$2,800$2,800
Other Assets Org$90,739--
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Reginald JonesExecutive DirectorFT$71,407$71,407

Board Members and Trustees

NameTitle
Rodrick BanksChairman
Sedrick McCallumVice Chair
Reginald McKnightDirector
Demetria Faulkner-WelchSecretary
Michael HallTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$273,633
Program Service Revenue
$0
Investment Income
$-69,713
Other Revenue
$1,412
All Other Contributions
$273,633
Change in Net Assets
$23,788

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Real Estate Residential4$164,317
Total Noncash Contributions4$164,317

Audited Revenue Reconciliation

Revenue per Audited Statements
$205,332
Total Revenue per Audited Statements
$205,332
Total Revenue per Form 990
$205,332
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$134,173
Other Expenses$47,371
Total Fundraising Expense$16,747
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$35,704$28,562$7,141$71,407
Other Salaries and Wages$23,359$17,968$4,491$45,818
Office Expenses$14,844$8,477$1,128$24,449
Payroll Taxes$4,450$3,560$890$8,900
Other Employee Benefits$4,024$3,219$805$8,048
Insurance$3,394$2,715$679$6,788
Fees for Services Other$1,267$5,168$136$6,571
Occupancy$643$514$129$1,286
Interest$1,158--$1,158
Other Expenses$3,206$2,565$707$707
Total Functional Expenses$92,049$72,748$16,747$181,544

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$181,544
Total Expenses per Audited Statements$181,544
Total Expenses per Form 990$181,544
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
No
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, Line 11B: Form 990 Review Process

“The 990 will be reviewed by the Executive Director before filing.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Made available upon request.”

Filing and Contact Details

Filer

Filer Name
Belmont Community
EIN
56-1708764
Phone
7043350450
Address
PO Box 33051, Charlotte, NC 28233

Signing Officer

Name
Rodrick Banks
Title
Chairman
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Reginald Jones
Formed
1990
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
2
Volunteers
5

Preparer

Firm
C DeWitt Foard & Co PA CPAs
Address
817 E Morehead Street Ste 100, Charlotte, NC 28202-2767
Preparer
Terry W Lancaster
Phone
7043721515
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Reginald Jones
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0170151
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-90170
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt061440
IRS990/PYOtherRevenueAmt05579
IRS990/PYRevenuesLessExpensesAmt0-114843
IRS990/PYSalariesCompEmpBnftPaidAmt0138963
IRS990/PYTotalExpensesAmt0200403
IRS990/PYTotalRevenueAmt085560
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt023788
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0273633
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0170151
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt062994
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0372145
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0175977
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01054900
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt01412
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt05579
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt014686
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt06905
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt02019
IRS990ScheduleA/OtherIncome170Grp/TotalAmt030601
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.90430
IRS990ScheduleA/PublicSupportPY170Pct00.92810
IRS990ScheduleA/PublicSupportTotal170Amt0981610
IRS990ScheduleA/SubstantialContributorsTotAmt073290
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0273633
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0170151
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt062994
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0372145
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0175977
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01054900
IRS990ScheduleA/TotalSupportAmt01085501
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt027462
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt027462
IRS990ScheduleD/ExpensesSubtotalAmt0181544
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt090739
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Construction in Process
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Employee Receivable
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02800
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02800
IRS990ScheduleD/RevenueSubtotalAmt0205332
IRS990ScheduleD/TotalBookValueOtherAssetsAmt090739
IRS990ScheduleD/TotalBookValueProgramRltdAmt029387
IRS990ScheduleD/TotalExpensesPerForm990Amt0181544
IRS990ScheduleD/TotalRevenuePerForm990Amt0205332
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0205332
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0181544
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/RealEstateResidentialGrp/ContributionCnt04
IRS990ScheduleM/RealEstateResidentialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateResidentialGrp/NoncashContributionsRptF990Amt0164317
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 will be reviewed by the Executive Director before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0637761
IRS990/TotalAssetsEOYAmt0569254
IRS990/TotalAssetsGrp/BOYAmt0637761
IRS990/TotalAssetsGrp/EOYAmt0569254
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0273633
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt016747
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt072748
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt092049
IRS990/TotalFunctionalExpensesGrp/TotalAmt0181544
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0210341
IRS990/TotalLiabilitiesEOYAmt0118046
IRS990/TotalLiabilitiesGrp/BOYAmt0210341
IRS990/TotalLiabilitiesGrp/EOYAmt0118046
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0427420
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0451208
IRS990/TotalProgramServiceExpensesAmt092049
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt071407
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-68301
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0205332
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0637761
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0569254
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0427420
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0451208
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0belmontcdc.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Rodrick Banks

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$569,254
Liabilities
$118,046
Net assets
$451,208
Revenue
$205,332
Expenses
$181,544
Net income
$23,788
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$1.52$0.69$0.82$0.38$1.83$1.44
2021Detailed filing. Detailed filing data is available for this year.$2.98$0.71$2.27$0.40$2.21$1.81
2020Detailed filing. Detailed filing data is available for this year.$6.57$2.49$4.08$1.27$1.77$0.50
2019Detailed filing. Detailed filing data is available for this year.$6.21$1.63$4.58$1.65$1.91$0.26
2018Detailed filing. Detailed filing data is available for this year.$5.47$0.63$4.84$2.52$2.20$0.32
2017Detailed filing. Detailed filing data is available for this year.$5.69$1.18$4.51$2.05$1.82$0.24
2016Detailed filing. Detailed filing data is available for this year.$6.38$2.10$4.27$0.86$2.00$1.15
2015Detailed filing. Detailed filing data is available for this year.$5.85$0.42$5.42$1.07$1.97$0.90
2014Detailed filing. Detailed filing data is available for this year.$6.45$0.13$6.32$4.22$1.93$2.30
2013Detailed filing. Detailed filing data is available for this year.$4.48$0.45$4.03$1.49$2.43$0.94
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.48$0.47$5.01$2.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.30$1.44$1.86$1.76
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.34$0.62$1.72$1.98