Civic Intelligence

Belmont Community Development Corp

990 • Fiscal year 2018 • EIN 56-1708764

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

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

53rd percentile

0.12x

Higher debt load relative to assets than 53% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

75th percentile

0.25x

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

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Net Margin

72nd percentile

13%

Higher net margin than 72% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

73rd percentile

$86,024

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 34.1% of source-year revenue.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Asset Growth

29th percentile

-4.0%

Faster asset growth than 29% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

78th percentile

23%

Faster revenue growth than 78% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Down

$546,715

Down $22,539 (-4.0%) from 2017

Net Assets

Up

$483,564

Up $32,356 (+7.2%) from 2017

Liabilities

Down

$63,151

Down $54,895 (-47%) from 2017

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin72nd percentile

Revenue

Up

$252,387

Up $47,055 (+23%) from 2017

Expenses

Up

$220,031

Up $38,487 (+21%) from 2017

Net Income

Up

$32,356

Up $8,568 (+36%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth29th 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

2018

Assets$546,715
Liabilities$63,151
Net Assets$483,564
Open 2018 Filing

Operations Trend

Revenue Growth78th 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

2018

Revenue$252,387
Expenses$220,031
Net Income$32,356
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$651,949
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$137,659$270,829▲ $133,170
Inventories for Sale or Use$311,469$229,681▼ $81,788
Investments Program Related$29,387$0▼ $29,387
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$569,254$546,715▼ $22,539
Other Assets Total$90,739$46,205▼ $44,534
Liabilities
Mortgage Notes Payable Secured by Investment Property$106,798$48,225▼ $58,573
Accounts Payable and Accrued Expenses$11,248$14,926▲ $3,678
Total Liabilities$118,046$63,151▼ $54,895
Net Assets / Fund Balance
Unrestricted Net Assets$451,208$483,564▲ $32,356
Total Net Assets Fund Balance$451,208$483,564▲ $32,356
Total Liabilities and Net Assets / Fund Balance$569,254$546,715▼ $22,539

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$27,462$27,462
Other Land Buildings-$2,800$2,800
Other Assets Org$46,205--
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Reginald JonesExecutive DirectorFT$86,024$86,024

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
$28,244
Program Service Revenue
$0
Investment Income
$223,643
Other Revenue
$500
All Other Contributions
$28,244
Change in Net Assets
$32,356

Audited Revenue Reconciliation

Revenue per Audited Statements
$252,387
Total Revenue per Audited Statements
$252,387
Total Revenue per Form 990
$252,387
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$161,245
Other Expenses$58,786
Total Fundraising Expense$19,027
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$43,012$34,410$8,602$86,024
Other Salaries and Wages$28,142$22,513$5,629$56,284
Office Expenses$14,063$11,154$1,260$26,477
Fees for Services Other$6,305$8,935$146$15,386
Payroll Taxes$5,443$4,355$1,089$10,887
Other Employee Benefits$4,025$3,220$805$8,050
Insurance$2,806$2,245$561$5,612
Occupancy$1,196$957$239$2,392
Interest$1,662--$1,662
Other Expenses$3,478$300$696$300
Total Functional Expenses$110,132$90,872$19,027$220,031

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$220,031
Total Expenses per Audited Statements$220,031
Total Expenses per Form 990$220,031
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
2019-11-14
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/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Reginald Jones
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0273633
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-69713
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt047371
IRS990/PYOtherRevenueAmt01412
IRS990/PYRevenuesLessExpensesAmt023788
IRS990/PYSalariesCompEmpBnftPaidAmt0134173
IRS990/PYTotalExpensesAmt0181544
IRS990/PYTotalRevenueAmt0205332
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt032356
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt028244
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0273633
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0170151
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt062994
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0372145
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0907167
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0500
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt01412
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt05579
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt014686
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt06905
IRS990ScheduleA/OtherIncome170Grp/TotalAmt029082
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.90880
IRS990ScheduleA/PublicSupportPY170Pct00.90430
IRS990ScheduleA/PublicSupportTotal170Amt0850892
IRS990ScheduleA/SubstantialContributorsTotAmt056275
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt028244
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0273633
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0170151
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt062994
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0372145
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0907167
IRS990ScheduleA/TotalSupportAmt0936249
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt027462
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt027462
IRS990ScheduleD/ExpensesSubtotalAmt0220031
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt046205
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Construction in Process
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02800
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02800
IRS990ScheduleD/RevenueSubtotalAmt0252387
IRS990ScheduleD/TotalBookValueOtherAssetsAmt046205
IRS990ScheduleD/TotalExpensesPerForm990Amt0220031
IRS990ScheduleD/TotalRevenuePerForm990Amt0252387
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0252387
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0220031
IRS990/ScheduleJRequiredInd0false
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0569254
IRS990/TotalAssetsEOYAmt0546715
IRS990/TotalAssetsGrp/BOYAmt0569254
IRS990/TotalAssetsGrp/EOYAmt0546715
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt028244
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt019027
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt090872
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0110132
IRS990/TotalFunctionalExpensesGrp/TotalAmt0220031
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0118046
IRS990/TotalLiabilitiesEOYAmt063151
IRS990/TotalLiabilitiesGrp/BOYAmt0118046
IRS990/TotalLiabilitiesGrp/EOYAmt063151
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0451208
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0483564
IRS990/TotalProgramServiceExpensesAmt0110132
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt086024
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0224143
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0252387
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0569254
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0546715
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0451208
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0483564
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 33051
IRS990/USAddress/CityNm0Charlotte
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd0282333051
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0belmontcdc.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Rodrick Banks
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-14

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$546,715
Liabilities
$63,151
Net assets
$483,564
Revenue
$252,387
Expenses
$220,031
Net income
$32,356
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