Civic Intelligence

Greensboro Community Development Fund

990 • Fiscal year 2023 • EIN 56-1872877

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 04, 2024

1451 S Elm Eugene St STE 2121Greensboro, NC 27406

(336) 256-9350

Siviq Scores

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

Liabilities / Assets

35th percentile

0.06x

Higher debt load relative to assets than 35% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

38th percentile

0.11x

Higher debt load relative to revenue than 38% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Net Margin

93rd percentile

67%

Higher net margin than 93% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$72,000

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Asset Growth

6th percentile

-23%

Faster asset growth than 6% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

17th percentile

-24%

Faster revenue growth than 17% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Flat

$4,469,257

Flat from 2023

Net Assets

Flat

$4,205,429

Flat from 2023

Liabilities

Flat

$263,828

Flat from 2023

Revenue

Flat

$2,396,117

Flat from 2023

Expenses

Flat

$784,881

Flat from 2023

Net Income

Flat

$1,611,236

Flat from 2023

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2012: $292,577Liabilities 2012: $65,838Net Assets 2012: $226,7392012Assets 2013: $247,959Liabilities 2013: $67,048Net Assets 2013: $180,9112013Assets 2014: $369,728Liabilities 2014: $68,594Net Assets 2014: $301,1342014Assets 2015: $486,609Liabilities 2015: $67,796Net Assets 2015: $418,8132015Assets 2016: $573,966Liabilities 2016: $45,770Net Assets 2016: $528,1962016Assets 2017: $639,529Liabilities 2017: $48,725Net Assets 2017: $590,8042017Assets 2018: $780,056Liabilities 2018: $1,201Net Assets 2018: $778,8552018Assets 2019: $1,096,941Liabilities 2019: $26,181Net Assets 2019: $1,070,7602019Assets 2020: $2,859,898Liabilities 2020: $1,115,397Net Assets 2020: $1,744,5012020Assets 2021: $3,626,382Liabilities 2021: $860,732Net Assets 2021: $2,765,6502021Assets 2022: $5,820,535Liabilities 2022: $710,417Net Assets 2022: $5,110,1182022Assets 2023: $4,469,257Liabilities 2023: $263,828Net Assets 2023: $4,205,4292023Assets 2023: $4,469,257Liabilities 2023: $263,828Net Assets 2023: $4,205,4292023Assets 2024: $2,776,686Liabilities 2024: $450,557Net Assets 2024: $2,326,1292024

Highlighted filing

2023

Assets$4,469,257
Liabilities$263,828
Net Assets$4,205,429

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $230,919Expenses 2012: $32,872Net Income 2012: $198,0472012Revenue 2013: $78,157Expenses 2013: $123,985Net Income 2013: -$45,8282013Revenue 2014: $224,696Expenses 2014: $104,473Net Income 2014: $120,2232014Revenue 2015: $212,373Expenses 2015: $94,694Net Income 2015: $117,6792015Revenue 2016: $219,544Expenses 2016: $110,161Net Income 2016: $109,3832016Revenue 2017: $287,482Expenses 2017: $224,874Net Income 2017: $62,6082017Revenue 2018: $474,671Expenses 2018: $286,620Net Income 2018: $188,0512018Revenue 2019: $736,835Expenses 2019: $474,930Net Income 2019: $261,9052019Revenue 2020: $1,376,415Expenses 2020: $700,275Net Income 2020: $676,1402020Revenue 2021: $1,839,047Expenses 2021: $757,997Net Income 2021: $1,081,0502021Revenue 2022: $3,154,236Expenses 2022: $759,769Net Income 2022: $2,394,4672022Revenue 2023: $2,396,117Expenses 2023: $784,881Net Income 2023: $1,611,2362023Revenue 2023: $2,396,117Expenses 2023: $784,881Net Income 2023: $1,611,2362023Revenue 2024: $446,116Expenses 2024: $1,042,664Net Income 2024: -$596,5482024

Highlighted filing

2023

Revenue$2,396,117
Expenses$784,881
Net Income$1,611,236
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 4, 2024
Return Version
2023v5.1
Gross Receipts
$2,396,117
Mission and Program Overview

Mission

To generate economic growth, encourage small business development, create jobs, and revitalize neighborhoods by providing loans and financial services to underserved businesses

To generate economic growth, encourage small business development, create jobs, and revitalize neighborhoods by providing loans and financial services to underserved business

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,561,851$2,186,022▲ $624,171
Pledges and Grants Receivable$740,000$1,535,000▲ $795,000
Other Notes and Loans Receivable, Net$965,016$711,945▼ $253,071
Accounts Receivable$26,901$26,901→ $0
Land, Buildings, and Equipment, Net$6,416$5,844▼ $572
Prepaid Expenses and Deferred Charges$1,399$1,399→ $0
Total Assets$3,301,979$4,469,257▲ $1,167,278
Other Assets Total$396$2,146▲ $1,750
Liabilities
Accounts Payable and Accrued Expenses$710,417$263,828▼ $446,589
Total Liabilities$710,417$263,828▼ $446,589
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,118,325$2,439,667▲ $321,342
Net Assets Without Donor Restrictions$473,237$1,765,762▲ $1,292,525
Total Net Assets Fund Balance$2,591,562$4,205,429▲ $1,613,867
Total Liabilities and Net Assets / Fund Balance$3,301,979$4,469,257▲ $1,167,278

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,844$13,050-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Clark RudolphInterim Executive DirectorFT$72,000$72,000
Michael McKinneyExecutive Director CEOFT$54,260$54,260

Board Members and Trustees

NameTitle
Karl RobinsonChairman
Scott BakerVice Chairman
Carlvena FosterBoard Member
Kim CameronBoard Member
Reginald McCaskillBoard Member
Taiwo JaiyeobaBoard Member
Cathy KnowlesSecretary
Erestine GuidryTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,372,138
Program Service Revenue
$0
Investment Income
$23,979
Other Revenue
$0
Change in Net Assets
$1,611,236

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,556,479
Total Revenue per Audited Statements
$2,556,479
Total Revenue per Form 990
$2,556,479
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$401,769
Other Expenses$383,112
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$270,783$74,225-$345,008
All Other Expenses$91,486$73,601-$165,087
Payroll Taxes$28,667$7,858-$36,525
Other Employee Benefits$15,882$4,354-$20,236
Occupancy$17,137$1,791-$18,928
Insurance$9,157$957-$10,114
Information Technology-$8,355-$8,355
Advertising-$7,369-$7,369
Other Expenses$32,500$6,009-$6,009
Travel-$3,837-$3,837
Depreciation Depletion$1,970$206-$2,176
Interest-$1,750-$1,750
Conferences and Meetings-$440-$440
Total Functional Expenses$470,171$314,710$0$784,881

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$784,881
Total Expenses per Audited Statements$784,881
Total Expenses per Form 990$784,881
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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 governing body review Part VI line 11

Executive Director and Exec Commitee reviews Form 990

Conflict of interest policy compliance Part VI line 12C

Ad-hoc basis, if information becomes available

Governing documents etc available to public Part VI line 19

Documents are available on request

Filing and Contact Details

Filer

Filer Name
Piedmont Business Capital
EIN
56-1872877
Address
1451 S Elm Eugene St STE 2121, Greensboro, NC 27406

Signing Officer

Name
Michael McKinney
Title
Executive Direc
Phone
3362569350
Signed
2024-09-04
Discuss with paid preparer
Yes

Organization Details

Formed
1993
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
10
Volunteers
7

Preparer

Firm
Progresa Inc
Address
5709 W Gate City Blvd Ste 206, Greensboro, NC 27407
Preparer
Enrique Rumbos
Phone
3369870515
Supplemental Narrative

Additional Explanations

List of other expenses Part IX line 24E

Program Services:Bad Debt $91228Small Equipment $68Rentals $190Management & General:Registration $7531Bank Charges $3557Meals $5371Shipping $206Small Equipment $7Rentals $20Professional fees $52819Miscellaneous $4090

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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01399
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01399
IRS990/PriorPeriodAdjustmentsAmt02631
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0637500
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt016536
IRS990/PYOtherExpensesAmt0422107
IRS990/PYOtherRevenueAmt0200
IRS990/PYRevenuesLessExpensesAmt0-124088
IRS990/PYSalariesCompEmpBnftPaidAmt0356217
IRS990/PYTotalExpensesAmt0778324
IRS990/PYTotalRevenueAmt0654236
IRS990/QuidProQuoContributionsInd0false
IRS990/ReconcilationRevenueExpnssAmt01611236
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt02372138
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01758247
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01338433
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0712260
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt06818578
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02372138
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0637500
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01758247
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01338433
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0712260
IRS990ScheduleA/Total509Grp/TotalAmt06818578
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02372138
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0637500
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01758247
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01338433
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0712260
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt06818578
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/BookValueAmt05844
IRS990ScheduleD/EquipmentGrp/DepreciationAmt013050
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt018894
IRS990ScheduleD/ExpensesSubtotalAmt0784881
IRS990ScheduleD/RevenueSubtotalAmt02556479
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05844
IRS990ScheduleD/TotalExpensesPerForm990Amt0784881
IRS990ScheduleD/TotalRevenuePerForm990Amt02556479
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02556479
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0784881
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Executive Director and Exec Commitee reviews Form 990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Ad-hoc basis, if information becomes available
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Documents are available on request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Program Services:Bad Debt $91228Small Equipment $68Rentals $190Management & General:Registration $7531Bank Charges $3557Meals $5371Shipping $206Small Equipment $7Rentals $20Professional fees $52819Miscellaneous $4090
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other expenses Part IX line 24e
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Greensboro Area Chamber of Commerce
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0342 North Elm St
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Greensboro
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027401
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt04469257
IRS990/TotalAssetsGrp/BOYAmt03301979
IRS990/TotalAssetsGrp/EOYAmt04469257
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02372138
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0314710
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0470171
IRS990/TotalFunctionalExpensesGrp/TotalAmt0784881
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0710417
IRS990/TotalLiabilitiesEOYAmt0263828
IRS990/TotalLiabilitiesGrp/BOYAmt0710417
IRS990/TotalLiabilitiesGrp/EOYAmt0263828
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02591562
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04205429
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0470171
IRS990/TotalReportableCompFromOrgAmt0126260
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt023979
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02396117
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03301979
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04469257
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt03837
IRS990/TravelGrp/TotalAmt03837
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0https://www.piedmontbusinesscapital.org

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.78$0.45$2.33$0.45$1.04$0.60
2023Detailed filing. Detailed filing data is available for this year.$4.47$0.26$4.21$2.40$0.78$1.61
2023Summary only. Only limited summary data is available for this year.$4.47$0.26$4.21$2.40$0.78$1.61
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.82$0.71$5.11$3.15$0.76$2.39
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.63$0.86$2.77$1.84$0.76$1.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.86$1.12$1.74$1.38$0.70$0.68
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.03$1.07$0.74$0.47$0.26
2018Summary only. Only limited summary data is available for this year.$0.78$0.00$0.78$0.47$0.29$0.19
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$0.05$0.59$0.29$0.22$0.06
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.05$0.53$0.22$0.11$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.49$0.07$0.42$0.21$0.09$0.12
2014Detailed filing. Detailed filing data is available for this year.$0.37$0.07$0.30$0.22$0.10$0.12
2013Detailed filing. Detailed filing data is available for this year.$0.25$0.07$0.18$0.08$0.12$0.05
2012Summary only. Only limited summary data is available for this year.$0.29$0.07$0.23$0.23$0.03$0.20
Peer Organizations

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