Civic Intelligence

Charleston Citywide Local Development Corporation

990 • Fiscal year 2019 • EIN 57-0707663

Oct 01, 2018 to Sep 30, 2019 • Filed on Mar 18, 2020

Organization Profile[email protected]

View Organization Page

2 Race StreetCharleston, SC 29403

(843) 973-7298

Siviq Scores

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

Liabilities / Assets

55th percentile

0.23x

Higher debt load relative to assets than 55% of similar nonprofits.

2019 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

80th percentile

3.07x

Higher debt load relative to revenue than 80% of similar nonprofits.

2019 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2019

Net Margin

1st percentile

-511%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

49th percentile

$125,472

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

2019 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2019

Asset Growth

4th percentile

-29%

Faster asset growth than 4% of similar nonprofits.

2019 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

82nd percentile

33%

Faster revenue growth than 82% of similar nonprofits.

2019 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets55th percentile

Assets

Down

$23,942,089

Down $9,826,861 (-29%) from 2018

Net Assets

Down

$18,360,467

Down $9,858,106 (-35%) from 2018

Liabilities

Up

$5,581,622

Up $31,245 (+0.6%) from 2018

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin1st percentile

Revenue

Up

$1,817,594

Up $448,760 (+33%) from 2018

Expenses

Up

$11,101,558

Up $10,297,180 (+1280%) from 2018

Net Income

Down

-$9,283,964

Down $9,848,420 (-1745%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

$40M$30M$20M$10M$0Assets 2010: $31,425,645Liabilities 2010: $2,031,533Net Assets 2010: $29,394,1122010Assets 2011: $33,559,793Liabilities 2011: $4,242,617Net Assets 2011: $29,317,1762011Assets 2012: $34,713,149Liabilities 2012: $4,711,169Net Assets 2012: $30,001,9802012Assets 2013: $35,121,621Liabilities 2013: $4,510,602Net Assets 2013: $30,611,0192013Assets 2014: $34,873,890Liabilities 2014: $3,787,985Net Assets 2014: $31,085,9052014Assets 2015: $35,206,201Liabilities 2015: $3,554,518Net Assets 2015: $31,651,6832015Assets 2016: $32,808,879Liabilities 2016: $4,724,324Net Assets 2016: $28,084,5552016Assets 2017: $32,865,019Liabilities 2017: $4,939,563Net Assets 2017: $27,925,4562017Assets 2018: $33,768,950Liabilities 2018: $5,550,377Net Assets 2018: $28,218,5732018Assets 2019: $23,942,089Liabilities 2019: $5,581,622Net Assets 2019: $18,360,4672019Assets 2020: $25,015,035Liabilities 2020: $7,213,818Net Assets 2020: $17,801,2172020Assets 2021: $28,483,157Liabilities 2021: $7,420,289Net Assets 2021: $21,062,8682021Assets 2022: $29,703,235Liabilities 2022: $7,705,651Net Assets 2022: $21,997,5842022Assets 2023: $35,516,078Liabilities 2023: $10,957,699Net Assets 2023: $24,558,3792023Assets 2024: $38,484,414Liabilities 2024: $12,206,705Net Assets 2024: $26,277,7092024

Highlighted filing

2019

Assets$23,942,089
Liabilities$5,581,622
Net Assets$18,360,467
Open 2019 Filing

Operations Trend

Revenue Growth82nd percentile

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

$20M$10M$0-$10MExpenses 2010: $300,7662010Revenue 2011: $1,031,066Expenses 2011: $408,622Net Income 2011: $622,4442011Expenses 2012: $471,5142012Expenses 2013: $722,4452013Revenue 2014: $1,356,570Expenses 2014: $698,180Net Income 2014: $658,3902014Revenue 2015: $1,403,287Expenses 2015: $641,180Net Income 2015: $762,1072015Revenue 2016: $1,150,012Expenses 2016: $597,262Net Income 2016: $552,7502016Revenue 2017: $944,632Expenses 2017: $906,353Net Income 2017: $38,2792017Revenue 2018: $1,368,834Expenses 2018: $804,378Net Income 2018: $564,4562018Revenue 2019: $1,817,594Expenses 2019: $11,101,558Net Income 2019: -$9,283,9642019Revenue 2020: $1,962,961Expenses 2020: $1,176,022Net Income 2020: $786,9392020Revenue 2021: $3,819,413Expenses 2021: $1,117,680Net Income 2021: $2,701,7332021Revenue 2022: $3,082,260Expenses 2022: $1,767,939Net Income 2022: $1,314,3212022Revenue 2023: $5,137,686Expenses 2023: $2,062,871Net Income 2023: $3,074,8152023Revenue 2024: $3,390,070Expenses 2024: $2,558,387Net Income 2024: $831,6832024

Highlighted filing

2019

Revenue$1,817,594
Expenses$11,101,558
Net Income-$9,283,964
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Mar 18, 2020
Return Version
2018v3.1
Gross Receipts
$1,817,594
Mission and Program Overview

Mission

The purpose of the corporation is to further economic development to promote and assist in the growth and development of business concerns and to engage in those activities which are in furtherance of or related to those purposes

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,432,720$11,157,233▲ $7,724,513
Other Notes and Loans Receivable, Net$4,276,814$5,971,696▲ $1,694,882
Investments Other Securities$25,074,171$5,411,293▼ $19,662,878
Land, Buildings, and Equipment, Net$893,453$858,588▼ $34,865
Pledges and Grants Receivable$91,792$249,607▲ $157,815
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$33,768,950$23,942,089▼ $9,826,861
Other Assets Total-$293,672-
Liabilities
Unsecured Notes Loans Payable$4,693,932$4,681,498▼ $12,434
Other Liabilities$831,420$860,566▲ $29,146
Accounts Payable and Accrued Expenses$25,025$39,558▲ $14,533
Total Liabilities$5,550,377$5,581,622▲ $31,245
Net Assets / Fund Balance
Unrestricted Net Assets$27,567,810$9,323,745▼ $18,244,065
Temporarily Rstr Net Assets$650,763$9,036,722▲ $8,385,959
Total Net Assets Fund Balance$28,218,573$18,360,467▼ $9,858,106
Total Liabilities and Net Assets / Fund Balance$33,768,950$23,942,089▼ $9,826,861

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$502,382$236,230$738,612
Leasehold Improvements$194,174$31,884$226,058
Other Land Buildings$75,995$24,769$100,764
Land$80,000-$80,000
Equipment$6,037$16,601$22,638
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sharon BrennanExecutive DirectorFT$122,144$3,328$125,472
Dwayne JubarFinancial DirectorFT$72,245$15,850$88,095
Cynthia W RourkInterim ExecDirFT$69,747$13,874$83,621

Board Members and Trustees

NameTitle
Richard K YoncePresident
John BennettVice President
Casdell E SingletonDirector
Clay MiddletonDirector
Craig AllenDirector
David H HaperDirector
Eduardo Curry EsqDirector
John Holdsclaw IVDirector
Otha MeadowsDirector
Perry K WaringDirector
William F Thompson JrDirector
Yvonne D EvansAsst. Secretary
Grant A McAnultySecretary
Bryan McNeal JrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$305,913
Program Service Revenue
$701,742
Investment Income
$809,939
Other Revenue
$0
Change in Net Assets
$-9,283,964

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,817,594
Revenue Not Reported on Form 990
$-40,328
Total Revenue per Audited Statements
$1,777,266
Total Revenue per Form 990
$1,817,594
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,449,708
Salaries, Compensation, and Employee Benefits$651,850
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$273,186$30,354-$303,540
Current Officers, Directors, Trustees, and Key Employees$215,101$23,900-$239,001
Fees for Services Legal$132,203$14,689-$146,892
Fees for Services Other$61,315$13,917-$75,232
Interest$59,559--$59,559
All Other Expenses$33,285$10,661-$43,946
Payroll Taxes$37,716$4,190-$41,906
Other Employee Benefits$37,689$4,188-$41,877
Depreciation Depletion-$34,865-$34,865
Pension Plan Contributions$22,973$2,553-$25,526
Travel$14,739$1,638-$16,377
Fees for Services Accounting$12,000$3,000-$15,000
Insurance-$12,934-$12,934
Advertising$7,010$779-$7,789
Other Expenses$6,010$6,669-$6,669
Information Technology$5,495$611-$6,106
Office Expenses$4,069$452-$4,521
Conferences and Meetings$3,148$350-$3,498
Total Functional Expenses$933,276$10,168,282$0$11,101,558

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$11,635,372
Expenses per Audited Statements$11,101,558
Total Expenses per Form 990$11,101,558
Expenses Not Reported on Form 990$533,814
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to City of Charleston$860,566
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The corporation has general members that elect board members in the organization's annual meeting each April. The nominating committee accepts applications from interested individuals and works to solicit and review the experience of potential candidates and presents a proposed slate to the general membership at the annual meeting. In May 2018, the organization filed 501(c)(3) application with the IRS and the required filings with the State of South Carolina to amend the Articles and Bylaws omitting membership.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Only electing members of the board”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“The corporation has general members that elect board members in the organization's annual meeting each April.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Draft of 990 is emailed to the audit committee for their review and then presented and discussed at the board meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization discusses any conflicts of interests in the monthly board meetings.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Comparative analysis is completed utilizing assessment tools through Economic Research Institute.”

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

“Yes through a freedom of information request”

Filing and Contact Details

Filer

Filer Name
Charleston LDC
EIN
57-0707663
Phone
8439737298
Address
2 Race Street, Charleston, SC 29403

Signing Officer

Name
Bryan McNeal Jr
Title
Treasurer
Signed
2020-03-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cynthia W Rourk
Formed
1979
Legal Domicile
Sc
Voting Board Members
13
Independent Board Members
13
Employees
7

Preparer

Firm
The Hobbs Group PA
Address
1704 Laurel Street, Columbia, SC 29201
Preparer
Allyson T DeHart CPA
Phone
8037990555
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Bad debt expense net of interest income = -$533814”

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

“The process has not changed from the prior year”

Form 990 Part V Line 1C

“The organization had no reportable payments to a vendor requiring compliance with backup withholding rules, nor did they provide any reportable gaming, gambling, or winnings to a prize winner during the calendar year.”

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization has received a determination letter from the Internal Revenue Service indicating it is a tax exempt Organization under section 501(c)(3) of the Internal Revenue Code and is exempt from federal and state income taxes, unless income is generated from unrelated business activities. There is no unrelated business income for 2018. Management is not aware of any transactions which would jeopardize their tax exempt status. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Organization and recognize a tax liability (or asset) if the Organization has taken an uncertain position that more likely than not would not be substantiated upon examination by the IRS. Management has analyzed the tax positions taken by the Organization and has concluded that as of September 30th,2019 and 2018, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods prior to 2016. U.S. state jurisdictions have statutes of limitations that generally range from three to five years. Currently, no audits for any tax periods are in progress.”

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

“Bad Debt Expenses reported on Audited FS $533814”

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1615850
IRS990/Form990PartVIISectionAGrp/PersonNm0Craig Allen
IRS990/Form990PartVIISectionAGrp/PersonNm1Clay Middleton
IRS990/Form990PartVIISectionAGrp/PersonNm2Otha Meadows
IRS990/Form990PartVIISectionAGrp/PersonNm3Casdell E Singleton
IRS990/Form990PartVIISectionAGrp/PersonNm4David H Haper
IRS990/Form990PartVIISectionAGrp/PersonNm5John Holdsclaw IV
IRS990/Form990PartVIISectionAGrp/PersonNm6William F Thompson Jr
IRS990/Form990PartVIISectionAGrp/PersonNm7Perry K Waring
IRS990/Form990PartVIISectionAGrp/PersonNm8Eduardo Curry Esq
IRS990/Form990PartVIISectionAGrp/PersonNm9Richard K Yonce
IRS990/Form990PartVIISectionAGrp/PersonNm10Sharon Brennan
IRS990/Form990PartVIISectionAGrp/PersonNm11Grant A McAnulty
IRS990/Form990PartVIISectionAGrp/PersonNm12Cynthia W Rourk
IRS990/Form990PartVIISectionAGrp/PersonNm13Bryan McNeal Jr
IRS990/Form990PartVIISectionAGrp/PersonNm14Yvonne D Evans
IRS990/Form990PartVIISectionAGrp/PersonNm15John Bennett
IRS990/Form990PartVIISectionAGrp/PersonNm16Dwayne Jubar
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9President
IRS990/Form990PartVIISectionAGrp/TitleTxt10Executive Dir.
IRS990/Form990PartVIISectionAGrp/TitleTxt11Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt12Interim ExecDir
IRS990/Form990PartVIISectionAGrp/TitleTxt13Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt14Asst. Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt15Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt16Financial Dir.
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IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/SecuritiesAmt0265401
IRS990/GamingActivitiesInd0false
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IRS990/GovernmentGrantsAmt0305913
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IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
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IRS990/GrantsToOrganizationsInd0false
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IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt0611
IRS990/InformationTechnologyGrp/ProgramServicesAmt05495
IRS990/InformationTechnologyGrp/TotalAmt06106
IRS990/InsuranceGrp/ManagementAndGeneralAmt012934
IRS990/InsuranceGrp/TotalAmt012934
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/ProgramServicesAmt059559
IRS990/InterestGrp/TotalAmt059559
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentExpenseAmt0-79890
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0544538
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0544538
IRS990/InvestmentInJointVentureInd0false
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt05411293
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IRS990/IRPDocumentCnt010
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IRS990/LandBldgEquipAccumDeprecAmt0309484
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0893453
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0858588
IRS990/LandBldgEquipCostOrOtherBssAmt01168072
IRS990/LegalDomicileStateCd0SC
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0The purpose of the corporation is to further economic development to promote and assist in the growth and development of business concerns and to engage in those activities which are in furtherance of or related to those purposes
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt028218573
IRS990/NetAssetsOrFundBalancesEOYAmt018360467
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0265401
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0265401
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt039562
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0452
IRS990/OfficeExpensesGrp/ProgramServicesAmt04069
IRS990/OfficeExpensesGrp/TotalAmt04521
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/EOYAmt0293672
IRS990/OtherChangesInNetAssetsAmt0-533814
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt04188
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt037689
IRS990/OtherEmployeeBenefitsGrp/TotalAmt041877
IRS990/OtherExpensesGrp/Desc0Funds released to Local Gov
IRS990/OtherExpensesGrp/Desc1Other Expenses
IRS990/OtherExpensesGrp/Desc2Tech Support
IRS990/OtherExpensesGrp/Desc3Property Insurance
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt010001000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1864
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2668
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt36669
IRS990/OtherExpensesGrp/ProgramServicesAmt07778
IRS990/OtherExpensesGrp/ProgramServicesAmt16010
IRS990/OtherExpensesGrp/TotalAmt010001000
IRS990/OtherExpensesGrp/TotalAmt18642
IRS990/OtherExpensesGrp/TotalAmt26678
IRS990/OtherExpensesGrp/TotalAmt36669
IRS990/OtherLiabilitiesGrp/BOYAmt0831420
IRS990/OtherLiabilitiesGrp/EOYAmt0860566
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt030354
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0273186
IRS990/OtherSalariesAndWagesGrp/TotalAmt0303540
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt04276814
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt05971696
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04190
IRS990/PayrollTaxesGrp/ProgramServicesAmt037716
IRS990/PayrollTaxesGrp/TotalAmt041906
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02553
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt022973
IRS990/PensionPlanContributionsGrp/TotalAmt025526
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt091792
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0249607
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Cynthia W Rourk
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/BusinessCd2525990
IRS990/ProgramServiceRevenueGrp/BusinessCd3531390
IRS990/ProgramServiceRevenueGrp/BusinessCd4525990
IRS990/ProgramServiceRevenueGrp/Desc0Interest Income-Loan
IRS990/ProgramServiceRevenueGrp/Desc1Loan Applications & SE
IRS990/ProgramServiceRevenueGrp/Desc2Other Income
IRS990/ProgramServiceRevenueGrp/Desc3Rental Income
IRS990/ProgramServiceRevenueGrp/Desc4SBA & USDA Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0439366
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1159680
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt274106
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt325200
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt43390
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0439366
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1159680
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt274106
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt325200
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt43390
IRS990/ProgSrvcAccomActy2Grp/Desc0Technical Assistance ProgramCoupled with its loan products, the organization provides both pre-loan counseling to prospective applicants and intensive post-loan developmental services to its borrowers. Such assistance occurs in various forums: one-on-one counseling, group sessions, workshops, seminars, classes, exhibitions, and site visits. Many of the group sessions are conducted in collaboration with local community resources such as SBDC, SCORE, or the SBA, just to name a few. Throughout the year, the Organization provided over 1,500 entrepreneurs some level of technical assistance. Of the total assisted, 140 individuals received information by attending one or more of the 24 seminars, workshops, or networking sessions offeredThe organization views its one-on-one technical assistance as critical to providing a foundation for success and offers such assistance through several vehicles of delivery to include consultant team, staff, and its community resources. The consultant team allows the Organization to provide specialized training by offering bookkeeping and QuickBooks training and business counseling through its site visit program. During the year, 72 businesses received almost 725.5 hours of specialized training.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0305913
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0244044
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0598597
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0306431
IRS990/PYProgramServiceRevenueAmt0526193
IRS990/PYRevenuesLessExpensesAmt0564456
IRS990/PYSalariesCompEmpBnftPaidAmt0497947
IRS990/PYTotalExpensesAmt0804378
IRS990/PYTotalRevenueAmt01368834
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,942,089
Liabilities
$5,581,622
Net assets
$18,360,467
Revenue
$1,817,594
Expenses
$11,101,558
Net income
-$9,283,964
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$38.5$12.2$26.3$3.39$2.56$0.83
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.5$11.0$24.6$5.14$2.06$3.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.7$7.71$22.0$3.08$1.77$1.31
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.5$7.42$21.1$3.82$1.12$2.70
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.0$7.21$17.8$1.96$1.18$0.79
2019Detailed filing. Detailed filing data is available for this year.$23.9$5.58$18.4$1.82$11.1$9.28
2018Summary only. Only limited summary data is available for this year.$33.8$5.55$28.2$1.37$0.80$0.56
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.9$4.94$27.9$0.94$0.91$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.8$4.72$28.1$1.15$0.60$0.55
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.2$3.55$31.7$1.40$0.64$0.76
2014Detailed filing. Detailed filing data is available for this year.$34.9$3.79$31.1$1.36$0.70$0.66
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.1$4.51$30.6$0.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.7$4.71$30.0$0.47
2011Summary only. Only limited summary data is available for this year.$33.6$4.24$29.3$1.03$0.41$0.62
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.4$2.03$29.4$0.30