Civic Intelligence

Charleston Citywide Local Development

990 • Fiscal year 2020 • EIN 57-0707663

Oct 01, 2019 to Sep 30, 2020 • Filed on May 10, 2021

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

70th percentile

0.29x

Higher debt load relative to assets than 70% of similar nonprofits.

2020 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

88th percentile

3.67x

Higher debt load relative to revenue than 88% of similar nonprofits.

2020 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2020

Net Margin

84th percentile

40%

Higher net margin than 84% of similar nonprofits.

2020 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

36th percentile

$115,745

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

2020 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2020

Asset Growth

50th percentile

4.5%

Faster asset growth than 50% of similar nonprofits.

2020 filings • 501(c)4 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

63rd percentile

8.0%

Faster revenue growth than 63% of similar nonprofits.

2020 filings • 501(c)4 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$25,015,035

Up $1,072,946 (+4.5%) from 2019

Net Assets

Down

$17,801,217

Down $559,250 (-3.0%) from 2019

Liabilities

Up

$7,213,818

Up $1,632,196 (+29%) from 2019

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin84th percentile

Revenue

Up

$1,962,961

Up $145,367 (+8.0%) from 2019

Expenses

Down

$1,176,022

Down $9,925,536 (-89%) from 2019

Net Income

Up

$786,939

Up $10,070,903 (+108%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth50th 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

2020

Assets$25,015,035
Liabilities$7,213,818
Net Assets$17,801,217
Open 2020 Filing

Operations Trend

Revenue Growth63rd 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

2020

Revenue$1,962,961
Expenses$1,176,022
Net Income$786,939
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
May 10, 2021
Return Version
2019v5.0
Gross Receipts
$1,962,961
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$11,157,233$11,449,590▲ $292,357
Other Notes and Loans Receivable, Net$5,971,696$8,046,456▲ $2,074,760
Investments Other Securities$5,411,293$4,061,152▼ $1,350,141
Land, Buildings, and Equipment, Net$858,588$823,745▼ $34,843
Pledges and Grants Receivable$249,607$115,232▼ $134,375
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$23,942,089$25,015,035▲ $1,072,946
Other Assets Total$293,672$518,860▲ $225,188
Liabilities
Unsecured Notes Loans Payable$4,681,498$6,046,175▲ $1,364,677
Other Liabilities$860,566$1,103,364▲ $242,798
Accounts Payable and Accrued Expenses$39,558$64,279▲ $24,721
Total Liabilities$5,581,622$7,213,818▲ $1,632,196
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,323,745$8,942,302▼ $381,443
Net Assets With Donor Restrictions$9,036,722$8,858,915▼ $177,807
Total Net Assets Fund Balance$18,360,467$17,801,217▼ $559,250
Total Liabilities and Net Assets / Fund Balance$23,942,089$25,015,035▲ $1,072,946

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$483,683$254,929$738,612
Leasehold Improvements$188,721$37,337$226,058
Other Land Buildings$67,028$33,736$100,764
Land$80,000-$80,000
Equipment$4,313$18,325$22,638
Compensation and Service Providers
Top Officer Pay36th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dwayne JubarFinancial DirectorFT$97,038$18,707$115,745
Steve SaltzmanExecutive DirectorFT$104,327$10,267$114,594

Board Members and Trustees

NameTitle
Richard K YoncePast-President
Grant A McAnultyPresident
Casdell E SingletonVice President
David H HaperDirector
Donna D'AmatoDirector
Eduardo Curry EsqDirector
John B BennettDirector
John Holdsclaw IVDirector
Kerri ChisolmDirector
Perry K WaringDirector
William F Thompson JrDirector
Bryan McNeal JrAsst Secretary
Yvonne D EvansSecretary
Clay MiddletonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$858,854
Program Service Revenue
$842,320
Investment Income
$261,787
Other Revenue
$0
Change in Net Assets
$786,939

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,962,961
Revenue Not Reported on Form 990
$29,044
Total Revenue per Audited Statements
$1,992,005
Total Revenue per Form 990
$1,962,961
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$840,531
Other Expenses$335,491
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$445,541$48,967-$494,508
Current Officers, Directors, Trustees, and Key Employees$157,500$17,500-$175,000
Interest$87,751--$87,751
Other Employee Benefits$63,214$6,713-$69,927
Fees for Services Other$50,755$5,640-$56,395
Payroll Taxes$46,601$5,178-$51,779
Pension Plan Contributions$44,385$4,932-$49,317
Depreciation Depletion$34,843--$34,843
All Other Expenses$24,962$2,099-$27,061
Fees for Services Legal$23,217$2,369-$25,586
Insurance-$21,774-$21,774
Fees for Services Accounting$14,662$3,663-$18,325
Travel$6,996$777-$7,773
Other Expenses$1,747$7,029-$7,029
Information Technology$4,817$535-$5,352
Office Expenses$4,774$527-$5,301
Conferences and Meetings$3,650$406-$4,056
Advertising$833$93-$926
Total Functional Expenses$1,028,634$147,388$0$1,176,022

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,499,231
Expenses Not Reported on Form 990$1,323,209
Expenses per Audited Statements$1,176,022
Total Expenses per Form 990$1,176,022
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$897,235
PPP Loan$136,370
Contingent Liability$69,759
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
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.”

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
Clay Middleton
Title
Treasurer
Signed
2021-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Saltzman
Formed
1979
Legal Domicile
Sc
Voting Board Members
13
Independent Board Members
13
Employees
50
Volunteers
10

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 = -$1323209”

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 2019. 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,2020 and 2019, 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 XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Investment Expenses $26012”

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

“Bad Debt Expenses reported on Audited FS $1323209”

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IRS990/Form990PartVIISectionAGrp/PersonNm1Steve Saltzman
IRS990/Form990PartVIISectionAGrp/PersonNm2Kerri Chisolm
IRS990/Form990PartVIISectionAGrp/PersonNm3Clay Middleton
IRS990/Form990PartVIISectionAGrp/PersonNm4Donna D'Amato
IRS990/Form990PartVIISectionAGrp/PersonNm5David H Haper
IRS990/Form990PartVIISectionAGrp/PersonNm6John Holdsclaw IV
IRS990/Form990PartVIISectionAGrp/PersonNm7William F Thompson Jr
IRS990/Form990PartVIISectionAGrp/PersonNm8Perry K Waring
IRS990/Form990PartVIISectionAGrp/PersonNm9Eduardo Curry Esq
IRS990/Form990PartVIISectionAGrp/PersonNm10Richard K Yonce
IRS990/Form990PartVIISectionAGrp/PersonNm11Casdell E Singleton
IRS990/Form990PartVIISectionAGrp/PersonNm12Grant A McAnulty
IRS990/Form990PartVIISectionAGrp/PersonNm13Bryan McNeal Jr
IRS990/Form990PartVIISectionAGrp/PersonNm14Yvonne D Evans
IRS990/Form990PartVIISectionAGrp/PersonNm15John B Bennett
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt1104327
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/TitleTxt0Financial Dir.
IRS990/Form990PartVIISectionAGrp/TitleTxt1Executive Dir.
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Past-President
IRS990/Form990PartVIISectionAGrp/TitleTxt11Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt12President
IRS990/Form990PartVIISectionAGrp/TitleTxt13Asst Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt14Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
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IRS990/InformationTechnologyGrp/ProgramServicesAmt04817
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IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/ProgramServicesAmt087751
IRS990/InterestGrp/TotalAmt087751
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentExpenseAmt0-26012
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0196056
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0196056
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt04061152
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
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IRS990/MembersOrStockholdersInd0true
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IRS990/MinutesOfCommitteesInd0true
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IRS990/NetAssetsOrFundBalancesEOYAmt017801217
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt065731
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt065731
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt03032
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt08942302
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IRS990/OccupancyGrp/TotalAmt00
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IRS990/OfficeExpensesGrp/ProgramServicesAmt04774
IRS990/OfficeExpensesGrp/TotalAmt05301
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0293672
IRS990/OtherAssetsTotalGrp/EOYAmt0518860
IRS990/OtherChangesInNetAssetsAmt0-1323209
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt06713
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt063214
IRS990/OtherEmployeeBenefitsGrp/TotalAmt069927
IRS990/OtherExpensesGrp/Desc0Dues and Subscriptions
IRS990/OtherExpensesGrp/Desc1Separation expense
IRS990/OtherExpensesGrp/Desc2Other Expenses
IRS990/OtherExpensesGrp/Desc3Property Insurance
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01376
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt110423
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt27387
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt37029
IRS990/OtherExpensesGrp/ProgramServicesAmt012386
IRS990/OtherExpensesGrp/ProgramServicesAmt11747
IRS990/OtherExpensesGrp/TotalAmt013762
IRS990/OtherExpensesGrp/TotalAmt110423
IRS990/OtherExpensesGrp/TotalAmt29134
IRS990/OtherExpensesGrp/TotalAmt37029
IRS990/OtherLiabilitiesGrp/BOYAmt0860566
IRS990/OtherLiabilitiesGrp/EOYAmt01103364
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt048967
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0445541
IRS990/OtherSalariesAndWagesGrp/TotalAmt0494508
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt05971696
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt08046456
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05178
IRS990/PayrollTaxesGrp/ProgramServicesAmt046601
IRS990/PayrollTaxesGrp/TotalAmt051779
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt04932
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt044385
IRS990/PensionPlanContributionsGrp/TotalAmt049317
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0249607
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0115232
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Steve Saltzman
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/RelatedOrExemptFuncIncomeAmt0624276
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1126161
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt263991
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt323600
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt44292
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0624276
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1126161
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt263991
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt323600
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt44292
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, 114 businesses received almost 629.25 hours of specialized training.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0401167
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0305913
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0809939
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt010449708
IRS990/PYProgramServiceRevenueAmt0701742
IRS990/PYRevenuesLessExpensesAmt0-9283964
IRS990/PYSalariesCompEmpBnftPaidAmt0651850
IRS990/PYTotalExpensesAmt011101558
IRS990/PYTotalRevenueAmt01817594
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0786939
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0842320

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$25,015,035
Liabilities
$7,213,818
Net assets
$17,801,217
Revenue
$1,962,961
Expenses
$1,176,022
Net income
$786,939
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
2020Detailed filing. Detailed filing data is available for this year.$25.0$7.21$17.8$1.96$1.18$0.79
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$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