Civic Intelligence

Belmont Community Development Corp

990 • Fiscal year 2021 • EIN 56-1708764

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 07, 2022

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

71st percentile

0.24x

Higher debt load relative to assets than 71% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

93rd percentile

1.80x

Higher debt load relative to revenue than 93% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Net Margin

1st percentile

-456%

Higher net margin than 1% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

70th percentile

$87,675

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 220.4% of source-year revenue.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Asset Growth

1st percentile

-55%

Faster asset growth than 1% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

3rd percentile

-69%

Faster revenue growth than 3% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$298,080

Down $359,257 (-55%) from 2020

Net Assets

Down

$226,609

Down $181,383 (-44%) from 2020

Liabilities

Down

$71,471

Down $177,874 (-71%) from 2020

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin1st percentile

Revenue

Down

$39,782

Down $87,408 (-69%) from 2020

Expenses

Up

$221,165

Up $44,187 (+25%) from 2020

Net Income

Down

-$181,383

Down $131,595 (-264%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2021

Assets$298,080
Liabilities$71,471
Net Assets$226,609
Open 2021 Filing

Operations Trend

Revenue Growth3rd 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

2021

Revenue$39,782
Expenses$221,165
Net Income-$181,383
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 7, 2022
Return Version
2021v4.0
Gross Receipts
$878,719
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$58,808$171,696▲ $112,888
Inventories for Sale or Use$390,799$126,384▼ $264,415
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$657,337$298,080▼ $359,257
Other Assets Total$207,730$0▼ $207,730
Liabilities
Mortgage Notes Payable Secured by Investment Property$234,824$49,840▼ $184,984
Accounts Payable and Accrued Expenses$14,521$21,631▲ $7,110
Total Liabilities$249,345$71,471▼ $177,874
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$407,992$221,709▼ $186,283
Net Assets With Donor Restrictions-$4,900-
Total Net Assets Fund Balance$407,992$226,609▼ $181,383
Total Liabilities and Net Assets / Fund Balance$657,337$298,080▼ $359,257

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$27,462$27,462
Other Land Buildings-$2,800$2,800
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Reginald JonesExecutive DirectorFT$87,675$87,675

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$63,187
Program Service Revenue
$0
Investment Income
$-27,737
Other Revenue
$4,332
All Other Contributions
$63,187
Change in Net Assets
$-181,383

Audited Revenue Reconciliation

Revenue per Audited Statements
$39,782
Revenue Not Reported on Form 990
$838,937
Total Revenue per Audited Statements
$878,719
Total Revenue per Form 990
$39,782
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$156,116
Other Expenses$65,049
Total Fundraising Expense$18,083
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$43,838$35,070$8,767$87,675
Other Salaries and Wages$24,293$19,435$4,859$48,587
Office Expenses$17,188$4,101$1,018$22,307
Fees for Services Other$5,970$9,302$154$15,426
Payroll Taxes$5,212$4,170$1,042$10,424
Other Employee Benefits$4,715$3,772$943$9,430
Interest$7,105--$7,105
Other Expenses$3,122$2,498$624$6,244
Insurance$1,909$1,527$382$3,818
Occupancy$1,472$1,178$294$2,944
Advertising-$383-$383
Total Functional Expenses$115,291$87,791$18,083$221,165

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,060,102
Expenses Not Reported on Form 990$838,937
Expenses per Audited Statements$221,165
Total Expenses per Form 990$221,165
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
2022-11-07
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
Address
817 E Morehead St 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 $838937”

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

“Cost of Real Estate Sold $838937”

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IRS990/PayrollTaxesGrp/FundraisingAmt01042
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04170
IRS990/PayrollTaxesGrp/ProgramServicesAmt05212
IRS990/PayrollTaxesGrp/TotalAmt010424
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Reginald Jones
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt060441
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt066749
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt045756
IRS990/PYRevenuesLessExpensesAmt0-49788
IRS990/PYSalariesCompEmpBnftPaidAmt0131222
IRS990/PYTotalExpensesAmt0176978
IRS990/PYTotalRevenueAmt0127190
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-181383
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt063187
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt060441
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0119476
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt028244
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0273633
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0544981
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt04332
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt03840
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0500
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt01412
IRS990ScheduleA/OtherIncome170Grp/TotalAmt010084
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.80370
IRS990ScheduleA/PublicSupportPY170Pct00.84460
IRS990ScheduleA/PublicSupportTotal170Amt0446082
IRS990ScheduleA/SubstantialContributorsTotAmt098899
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt063187
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt060441
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0119476
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt028244
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0273633
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0544981
IRS990ScheduleA/TotalSupportAmt0555065
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/ExpensesNotReportedAmt0838937
IRS990ScheduleD/ExpensesSubtotalAmt0221165
IRS990ScheduleD/OtherExpensesIncludedAmt0838937
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02800
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02800
IRS990ScheduleD/OtherRevenueAmt0838937
IRS990ScheduleD/RevenueNotReportedAmt0838937
IRS990ScheduleD/RevenueSubtotalAmt039782
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Cost of Real Estate Sold $838937
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Cost of Real Estate Sold $838937
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/TotalExpensesPerForm990Amt0221165
IRS990ScheduleD/TotalRevenuePerForm990Amt039782
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0878719
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01060102
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/TotalAssetsBOYAmt0657337
IRS990/TotalAssetsEOYAmt0298080
IRS990/TotalAssetsGrp/BOYAmt0657337
IRS990/TotalAssetsGrp/EOYAmt0298080
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt063187
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt018083
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt087791
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0115291
IRS990/TotalFunctionalExpensesGrp/TotalAmt0221165
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0249345
IRS990/TotalLiabilitiesEOYAmt071471
IRS990/TotalLiabilitiesGrp/BOYAmt0249345
IRS990/TotalLiabilitiesGrp/EOYAmt071471
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0407992
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0226609
IRS990/TotalProgramServiceExpensesAmt0115291
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt087675
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-23405
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt039782
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0657337
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0298080
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/TrustedCustomerCd03

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$298,080
Liabilities
$71,471
Net assets
$226,609
Revenue
$39,782
Expenses
$221,165
Net income
-$181,383
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