Civic Intelligence

Carolina Small Business Development Fund

990 • Fiscal year 2017 • EIN 58-1903219

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 08, 2018

Organization ProfileWWW.CAROLINASMALLBUSINESS.ORG

View Organization Page

3128 Highwoods Blvd Suite 170Raleigh, NC 27604

(919) 803-1437

Siviq Scores

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

Liabilities / Assets

75th percentile

0.57x

Higher debt load relative to assets than 75% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

89th percentile

2.62x

Higher debt load relative to revenue than 89% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

69th percentile

11%

Higher net margin than 69% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

26th percentile

$163,500

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

85th percentile

40%

Faster revenue growth than 85% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$32,985,626

Up $3,194,868 (+11%) from 2016

Net Assets

Up

$14,165,153

Up $800,792 (+6.0%) from 2016

Liabilities

Up

$18,820,473

Up $2,394,076 (+15%) from 2016

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin69th percentile

Revenue

Up

$7,173,700

Up $2,063,865 (+40%) from 2016

Expenses

Up

$6,372,908

Up $1,936,289 (+44%) from 2016

Net Income

Up

$800,792

Up $127,576 (+19%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$60M$40M$20M$0Assets 2011: $10,023,542Liabilities 2011: $1,523,235Net Assets 2011: $8,500,3072011Assets 2012: $12,411,755Liabilities 2012: $3,386,918Net Assets 2012: $9,024,8372012Assets 2013: $14,198,461Liabilities 2013: $4,355,747Net Assets 2013: $9,842,7142013Assets 2014: $16,935,894Liabilities 2014: $4,581,395Net Assets 2014: $12,354,4992014Assets 2015: $20,879,394Liabilities 2015: $8,188,249Net Assets 2015: $12,691,1452015Assets 2016: $29,790,758Liabilities 2016: $16,426,397Net Assets 2016: $13,364,3612016Assets 2017: $32,985,626Liabilities 2017: $18,820,473Net Assets 2017: $14,165,1532017Assets 2018: $38,007,117Liabilities 2018: $24,054,747Net Assets 2018: $13,952,3702018Assets 2019: $40,644,527Liabilities 2019: $25,876,194Net Assets 2019: $14,768,3332019Assets 2020: $42,296,968Liabilities 2020: $28,793,978Net Assets 2020: $13,502,9902020Assets 2021: $38,671,185Liabilities 2021: $24,354,817Net Assets 2021: $14,316,3682021Assets 2022: $42,816,299Liabilities 2022: $28,354,532Net Assets 2022: $14,461,7672022Assets 2023: $34,372,780Liabilities 2023: $18,763,064Net Assets 2023: $15,609,7162023Assets 2024: $36,552,890Liabilities 2024: $19,888,458Net Assets 2024: $16,664,4322024Assets 2025: $39,156,291Liabilities 2025: $22,126,442Net Assets 2025: $17,029,8492025

Highlighted filing

2017

Assets$32,985,626
Liabilities$18,820,473
Net Assets$14,165,153
Open 2017 Filing

Operations Trend

Revenue Growth85th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $4,207,672Expenses 2011: $3,341,394Net Income 2011: $866,2782011Revenue 2012: $3,384,033Expenses 2012: $2,859,503Net Income 2012: $524,5302012Expenses 2013: $3,532,5362013Revenue 2014: $5,052,206Expenses 2014: $2,540,421Net Income 2014: $2,511,7852014Revenue 2015: $2,591,674Expenses 2015: $2,255,028Net Income 2015: $336,6462015Revenue 2016: $5,109,835Expenses 2016: $4,436,619Net Income 2016: $673,2162016Revenue 2017: $7,173,700Expenses 2017: $6,372,908Net Income 2017: $800,7922017Revenue 2018: $6,835,372Expenses 2018: $7,048,155Net Income 2018: -$212,7832018Revenue 2019: $8,969,393Expenses 2019: $8,153,430Net Income 2019: $815,9632019Revenue 2020: $5,600,963Expenses 2020: $6,866,306Net Income 2020: -$1,265,3432020Revenue 2021: $7,982,393Expenses 2021: $7,169,015Net Income 2021: $813,3782021Revenue 2022: $6,416,650Expenses 2022: $6,271,251Net Income 2022: $145,3992022Revenue 2023: $10,484,327Expenses 2023: $9,336,378Net Income 2023: $1,147,9492023Revenue 2024: $7,993,989Expenses 2024: $6,939,273Net Income 2024: $1,054,7162024Revenue 2025: $7,889,556Expenses 2025: $7,524,139Net Income 2025: $365,4172025

Highlighted filing

2017

Revenue$7,173,700
Expenses$6,372,908
Net Income$800,792
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 8, 2018
Return Version
2016v3.1
Gross Receipts
$7,235,810
Mission and Program Overview

Mission

Our mission is to foster economic development in underserved communities by providing capital, business services, and policy research to support small businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$25,200,111$28,368,110▲ $3,167,999
Savings and Temporary Cash Investments$4,098,002$3,106,164▼ $991,838
Pledges and Grants Receivable$56,043$1,158,565▲ $1,102,522
Other Notes and Loans Receivable, Net$299,571$161,041▼ $138,530
Land, Buildings, and Equipment, Net$82,019$112,467▲ $30,448
Prepaid Expenses and Deferred Charges-$49,291-
Cash and Non-Interest-Bearing Accounts$55,012$29,988▼ $25,024
Total Assets$29,790,758$32,985,626▲ $3,194,868
Liabilities
Mortgage Notes Payable Secured by Investment Property$16,339,235$18,711,909▲ $2,372,674
Accounts Payable and Accrued Expenses$74,699$100,675▲ $25,976
Other Liabilities$12,463$7,889▼ $4,574
Total Liabilities$16,426,397$18,820,473▲ $2,394,076
Net Assets / Fund Balance
Unrestricted Net Assets$10,131,373$11,566,779▲ $1,435,406
Temporarily Rstr Net Assets$3,232,988$2,598,374▼ $634,614
Total Net Assets Fund Balance$13,364,361$14,165,153▲ $800,792
Total Liabilities and Net Assets / Fund Balance$29,790,758$32,985,626▲ $3,194,868

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$112,467$175,852$288,319
Investment Program Related Org$-2,289,736--
Compensation and Service Providers
Top Officer Pay26th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lenwood LongPresident/ceFT$163,500-$163,500
Lenwood LongPresident/CEO-$137,500$26,000$163,500
Awamary Lowe-khanCFOFT$126,662$15,160$141,822
Walter D HarringtonChief CreditFT$110,381$14,387$124,768

Board Members and Trustees

NameTitle
Marshall CherryChair
Nancy Patrick StroudVice Chair
Barbara LeeDirector
Cammie HuntDirector
Cheryl DiuguidDirector
Dr Tashni-ann DubroyDirector
Jada Grandy-mockDirector
James H Sills IiiDirector
John Holdsclaw IvDirector
Ken ReeceDirector
William HayesDirector
Willy StewartDirector
Stephanie Swepson-twittySecretary
Dr Lucy ReubenTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
New KindBranding Cons105 BROOKS AVENUE, Raleigh, NC 27607$121,058
Revenue and Support

Revenue Composition

Contributions and Grants
$5,442,183
Program Service Revenue
$1,651,265
Investment Income
$54,163
Other Revenue
$26,089
All Other Contributions
$2,595,254
Change in Net Assets
$800,792

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,173,700
Revenue Not Reported on Form 990
$62,110
Total Revenue per Audited Statements
$7,235,810
Total Revenue per Form 990
$7,173,700
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,648,865
Salaries, Compensation, and Employee Benefits$2,724,043
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,501,218$423,421-$1,924,639
Fees for Services Other$508,786$192,455-$701,241
Interest$465,124--$465,124
Current Officers, Directors, Trustees, and Key Employees$236,669$66,754-$303,423
Other Employee Benefits$192,287$54,236-$246,523
Travel$165,551$46,693-$212,244
Payroll Taxes$139,801$39,430-$179,231
Occupancy$135,458$38,509-$173,967
Fees for Services Lobbying$173,544--$173,544
Fees for Services Legal$111,646$31,492-$143,138
Office Expenses$65,050$17,884-$82,934
Pension Plan Contributions$54,777$15,450-$70,227
Conferences and Meetings$52,364$13,261-$65,625
Advertising$46,329$13,068-$59,397
Other Expenses$35,557$10,029-$45,586
Fees for Services Accounting$31,489$8,881-$40,370
Depreciation Depletion$30,759$8,677-$39,436
Insurance$16,858$4,756-$21,614
All Other Expenses$20,334--$20,334
Information Technology$12,270$3,456-$15,726
Total Functional Expenses$5,351,983$1,020,925$0$6,372,908

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,435,018
Expenses per Audited Statements$6,372,908
Total Expenses per Form 990$6,372,908
Expenses Not Reported on Form 990$62,110
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$62,110
Fundraising Gross Income$30,815
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Sba Luncheon$92,565$30,815$62,110$-31,295
Total Events$92,565$30,815$62,110$-31,295
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Accrued Expenses$7,889
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
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization's ceo is employed via a management company, bv & l associates.”

Form 990, Page 6, Part VI, Line 11B

“The finance committee of the board of directors reviews the form 990 prior to its filing and reports the results to the full board.”

Form 990, Page 6, Part VI, Line 12C

“Board members are required to disclose conflicts of interest. This policy is monitored on an annual basis and documented in the minutes.”

Form 990, Page 6, Part VI, Line 15A

“Compensation is reviewed by the executive committee and comparables are considered among like agencies and other nonprofit entities. Each year a performance appraisal is done and any increase in salary is recommended by the executive committee and approved by the board.”

Form 990, Page 6, Part VI, Line 15B

“Each year, a performance appraisal is done and any increase in salary is recommended by the president/ceo and finance committee, and approved by the board.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents available upon request to the organization's office.”

Filing and Contact Details

Filer

Filer Name
Carolina Small Business Development
EIN
58-1903219
Phone
9198031437
Address
3128 HIGHWOODS BLVD SUITE 170, RALEIGH, NC 27604

Signing Officer

Name
Lenwood Long
Title
President/CEO
Phone
9195301683
Signed
2018-02-08

Organization Details

Principal Officer
Lenwood Long
Formed
1990
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
37
Volunteers
1

Preparer

Firm
Romeo Wiggins & Company Llp
Address
8210 CREEDMOOR RD 202, RALEIGH, NC 27613
Preparer
J Kelly Lanier
Phone
9198705151
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Loan servicing fees 16,726 4,717 0 contract services 492,060 187,738 0 total 508,786 192,455 0”

Form 990, Part XI, Line 9

“Special event expenses 62,110 special event expenses -62,110”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Special event expenses 62,110”

Schedule D, Page 4, Part XII, Line 2D

“Special event expenses 62,110”

Raw XML AppendixShowing 400 of 600 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14PRESIDENT/CE
IRS990/Form990PartVIISectionAGrp/TitleTxt15CFO
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IRS990/InformationTechnologyGrp/TotalAmt015726
IRS990/InsuranceGrp/ManagementAndGeneralAmt04756
IRS990/InsuranceGrp/ProgramServicesAmt016858
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IRS990/LandBldgEquipCostOrOtherBssAmt0288319
IRS990/LegalDomicileStateCd0NC
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IRS990/LobbyingActivitiesInd0true
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0OUR MISSION IS TO FOSTER ECONOMIC DEVELOPMENT IN UNDERSERVED COMMUNITIES BY PROVIDING CAPITAL, BUSINESS SERVICES, AND POLICY RESEARCH TO SUPPORT SMALL BUSINESSES.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt018711909
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IRS990/OccupancyGrp/ProgramServicesAmt0135458
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt017884
IRS990/OfficeExpensesGrp/ProgramServicesAmt065050
IRS990/OfficeExpensesGrp/TotalAmt082934
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0192287
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0246523
IRS990/OtherExpensesGrp/Desc0LOSSES ON LOANS
IRS990/OtherExpensesGrp/Desc1SUBSCRIPTION AND DUES
IRS990/OtherExpensesGrp/Desc2TELEPHONE
IRS990/OtherExpensesGrp/Desc3STAFF DEVELOPMENT
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt113506
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt210029
IRS990/OtherExpensesGrp/ProgramServicesAmt01240997
IRS990/OtherExpensesGrp/ProgramServicesAmt167225
IRS990/OtherExpensesGrp/ProgramServicesAmt247890
IRS990/OtherExpensesGrp/ProgramServicesAmt335557
IRS990/OtherExpensesGrp/TotalAmt01240997
IRS990/OtherExpensesGrp/TotalAmt186192
IRS990/OtherExpensesGrp/TotalAmt261396
IRS990/OtherExpensesGrp/TotalAmt345586
IRS990/OtherLiabilitiesGrp/BOYAmt012463
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
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IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt12721
IRS990/OtherRevenueTotalAmt057384
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0161041
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0139801
IRS990/PayrollTaxesGrp/TotalAmt0179231
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt015450
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt054777
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IRS990/PrincipalOfficerNm0LENWOOD LONG
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IRS990/ProgramServiceRevenueGrp/Desc0BUISINESS LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1LOAN ORIGINATION/CLOSING FEES
IRS990/ProgramServiceRevenueGrp/Desc2MEMBERSHIP FEES
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1141112
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt03106164
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME 98,516
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$32,985,626
Liabilities
$18,820,473
Net assets
$14,165,153
Revenue
$7,173,700
Expenses
$6,372,908
Net income
$800,792
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.2$22.1$17.0$7.89$7.52$0.37
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.6$19.9$16.7$7.99$6.94$1.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$34.4$18.8$15.6$10.5$9.34$1.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.8$28.4$14.5$6.42$6.27$0.15
2021Detailed filing. Detailed filing data is available for this year.$38.7$24.4$14.3$7.98$7.17$0.81
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.3$28.8$13.5$5.60$6.87$1.27
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$40.6$25.9$14.8$8.97$8.15$0.82
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.0$24.1$14.0$6.84$7.05$0.21
2017Detailed filing. Detailed filing data is available for this year.$33.0$18.8$14.2$7.17$6.37$0.80
2016Summary only. Only limited summary data is available for this year.$29.8$16.4$13.4$5.11$4.44$0.67
2015Detailed filing. Detailed filing data is available for this year.$20.9$8.19$12.7$2.59$2.26$0.34
2014Detailed filing. Detailed filing data is available for this year.$16.9$4.58$12.4$5.05$2.54$2.51
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.2$4.36$9.84$3.53
2012Summary only. Only limited summary data is available for this year.$12.4$3.39$9.02$3.38$2.86$0.52
2011Summary only. Only limited summary data is available for this year.$10.0$1.52$8.50$4.21$3.34$0.87