Civic Intelligence

Belmont Community Development Corp

990 • Fiscal year 2020 • EIN 56-1708764

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 02, 2021

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

76th percentile

0.38x

Higher debt load relative to assets than 76% of similar nonprofits.

2020 filings • NTEE S • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

91st percentile

1.96x

Higher debt load relative to revenue than 91% of similar nonprofits.

2020 filings • NTEE S • $500k-$1M nonprofits • Source year 2020

Net Margin

10th percentile

-39%

Higher net margin than 10% of similar nonprofits.

2020 filings • NTEE S • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

44th percentile

$2,500

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2020 filings • NTEE S • $500k-$1M nonprofits • Source year 2020

Asset Growth

51st percentile

5.8%

Faster asset growth than 51% of similar nonprofits.

2020 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

23rd percentile

-23%

Faster revenue growth than 23% of similar nonprofits.

2020 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$657,337

Up $36,321 (+5.8%) from 2019

Net Assets

Down

$407,992

Down $49,788 (-11%) from 2019

Liabilities

Up

$249,345

Up $86,109 (+53%) from 2019

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin10th percentile

Revenue

Down

$127,190

Down $38,031 (-23%) from 2019

Expenses

Down

$176,978

Down $14,027 (-7.3%) from 2019

Net Income

Down

-$49,788

Down $24,004 (-93%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth51st 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

2020

Assets$657,337
Liabilities$249,345
Net Assets$407,992
Open 2020 Filing

Operations Trend

Revenue Growth23rd 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

2020

Revenue$127,190
Expenses$176,978
Net Income-$49,788
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 2, 2021
Return Version
2020v4.0
Gross Receipts
$460,341
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
Inventories for Sale or Use$351,306$390,799▲ $39,493
Cash and Non-Interest-Bearing Accounts$117,751$58,808▼ $58,943
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 Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$621,016$657,337▲ $36,321
Other Assets Total$151,959$207,730▲ $55,771
Liabilities
Mortgage Notes Payable Secured by Investment Property$148,436$234,824▲ $86,388
Accounts Payable and Accrued Expenses$14,800$14,521▼ $279
Total Liabilities$163,236$249,345▲ $86,109
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$457,780$407,992▼ $49,788
Total Net Assets Fund Balance$457,780$407,992▼ $49,788
Total Liabilities and Net Assets / Fund Balance$621,016$657,337▲ $36,321

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$27,462$27,462
Other Land Buildings-$2,800$2,800
Other Assets Org$207,730--
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Reginald JonesExecutive DirectorFT$2,500$2,500

Board Members and Trustees

NameTitle
Rodrick BanksChairman
Sedrick McCallumVice Chair
Mark LynchDirector
Wally BurgessDirector
Michael HallTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$60,441
Program Service Revenue
$0
Investment Income
$66,749
Other Revenue
$0
All Other Contributions
$60,441
Change in Net Assets
$-49,788

Audited Revenue Reconciliation

Revenue per Audited Statements
$127,190
Revenue Not Reported on Form 990
$333,151
Total Revenue per Audited Statements
$460,341
Total Revenue per Form 990
$127,190
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$131,222
Other Expenses$45,756
Total Fundraising Expense$15,932
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$55,815$44,652$11,163$111,630
Office Expenses$11,601$7,911$985$20,497
Fees for Services Other$3,515$6,868$135$10,518
Payroll Taxes$4,385$3,508$877$8,770
Other Employee Benefits$4,161$3,329$832$8,322
Insurance$2,049$1,639$410$4,098
Interest$3,250--$3,250
Current Officers, Directors, Trustees, and Key Employees$1,250$1,000$250$2,500
Occupancy$382$306$76$764
Advertising--$625$625
Other Expenses$2,897$210$579$210
Total Functional Expenses$89,305$71,741$15,932$176,978

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$510,129
Expenses Not Reported on Form 990$333,151
Expenses per Audited Statements$176,978
Total Expenses per Form 990$176,978
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 35% controlled entity
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
Michael Hall
Title
Treasurer
Signed
2021-11-02
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

Preparer

Firm
C DeWitt Foard & Co PA CPAs
Address
817 E Morehead Street Ste 100, Charlotte, NC 28202
Preparer
Garrett Summers
Phone
7043721515
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Cost of Real Estate Sold $333151”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Cost of Real Estate Sold $333151”

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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Reginald Jones
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0119476
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt041905
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt053047
IRS990/PYOtherRevenueAmt03840
IRS990/PYRevenuesLessExpensesAmt0-25784
IRS990/PYSalariesCompEmpBnftPaidAmt0137958
IRS990/PYTotalExpensesAmt0191005
IRS990/PYTotalRevenueAmt0165221
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-49788
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/CurrentTaxYearAmt060441
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0119476
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt028244
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0273633
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0170151
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0651945
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt03840
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0500
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt01412
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt05579
IRS990ScheduleA/OtherIncome170Grp/TotalAmt011331
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.84460
IRS990ScheduleA/PublicSupportPY170Pct00.83480
IRS990ScheduleA/PublicSupportTotal170Amt0560211
IRS990ScheduleA/SubstantialContributorsTotAmt091734
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt060441
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0119476
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt028244
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0273633
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0170151
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0651945
IRS990ScheduleA/TotalSupportAmt0663276
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt027462
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt027462
IRS990ScheduleD/ExpensesNotReportedAmt0333151
IRS990ScheduleD/ExpensesSubtotalAmt0176978
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0207730
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Construction in Process
IRS990ScheduleD/OtherExpensesIncludedAmt0333151
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02800
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02800
IRS990ScheduleD/OtherRevenueAmt0333151
IRS990ScheduleD/RevenueNotReportedAmt0333151
IRS990ScheduleD/RevenueSubtotalAmt0127190
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Cost of Real Estate Sold $333151
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Cost of Real Estate Sold $333151
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0207730
IRS990ScheduleD/TotalExpensesPerForm990Amt0176978
IRS990ScheduleD/TotalRevenuePerForm990Amt0127190
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0460341
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0510129
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/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0621016
IRS990/TotalAssetsEOYAmt0657337
IRS990/TotalAssetsGrp/BOYAmt0621016
IRS990/TotalAssetsGrp/EOYAmt0657337
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt060441
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt015932
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt071741
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt089305
IRS990/TotalFunctionalExpensesGrp/TotalAmt0176978
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0163236
IRS990/TotalLiabilitiesEOYAmt0249345
IRS990/TotalLiabilitiesGrp/BOYAmt0163236
IRS990/TotalLiabilitiesGrp/EOYAmt0249345
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0457780
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0407992
IRS990/TotalProgramServiceExpensesAmt089305
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt02500
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt066749
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0127190
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0621016
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0657337
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$657,337
Liabilities
$249,345
Net assets
$407,992
Revenue
$127,190
Expenses
$176,978
Net income
-$49,788
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