Civic Intelligence

Carolina Small Business Development Fund

990 • Fiscal year 2021 • EIN 58-1903219

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

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

82nd percentile

0.63x

Higher debt load relative to assets than 82% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

91st percentile

3.05x

Higher debt load relative to revenue than 91% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

46th percentile

10%

Higher net margin than 46% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

23rd percentile

$151,944

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

6th percentile

-8.6%

Faster asset growth than 6% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

77th percentile

43%

Faster revenue growth than 77% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$38,671,185

Down $3,625,783 (-8.6%) from 2020

Net Assets

Up

$14,316,368

Up $813,378 (+6.0%) from 2020

Liabilities

Down

$24,354,817

Down $4,439,161 (-15%) from 2020

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin46th percentile

Revenue

Up

$7,982,393

Up $2,381,430 (+43%) from 2020

Expenses

Up

$7,169,015

Up $302,709 (+4.4%) from 2020

Net Income

Up

$813,378

Up $2,078,721 (+164%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth6th 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

2021

Assets$38,671,185
Liabilities$24,354,817
Net Assets$14,316,368
Open 2021 Filing

Operations Trend

Revenue Growth77th 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

2021

Revenue$7,982,393
Expenses$7,169,015
Net Income$813,378
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$7,992,280
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$34,501,501$31,809,330▼ $2,692,171
Cash and Non-Interest-Bearing Accounts$3,018,458$3,132,880▲ $114,422
Other Notes and Loans Receivable, Net$2,244,393$2,329,110▲ $84,717
Savings and Temporary Cash Investments$991,482$1,009,398▲ $17,916
Pledges and Grants Receivable$923,178$335,487▼ $587,691
Prepaid Expenses and Deferred Charges$31,834$47,108▲ $15,274
Land, Buildings, and Equipment, Net$15,856$5,651▼ $10,205
Accounts Receivable$570,266$2,221▼ $568,045
Total Assets$42,296,968$38,671,185▼ $3,625,783
Liabilities
Mortgage Notes Payable Secured by Investment Property$24,105,399$21,741,218▼ $2,364,181
Other Liabilities$3,671,923$2,460,440▼ $1,211,483
Deferred Revenue$633,333--
Accounts Payable and Accrued Expenses$383,323$153,159▼ $230,164
Total Liabilities$28,793,978$24,354,817▼ $4,439,161
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,817,606$8,396,608▼ $420,998
Net Assets With Donor Restrictions$4,685,384$5,919,760▲ $1,234,376
Total Net Assets Fund Balance$13,502,990$14,316,368▲ $813,378
Total Liabilities and Net Assets / Fund Balance$42,296,968$38,671,185▼ $3,625,783

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,651$290,892$296,543
Investment Program Related Org$-2,115,715--
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kevin DickPresident &FT$130,299$21,645$151,944
Kevin DickPresident & CEO-$130,299$21,645$151,944
Mark RoysterChief CreditFT$119,220$18,942$138,162
Krystin JorgensonCFOFT$119,283$16,926$136,209
William HayesVice Chair (-$25,497-$25,497
Amber BondFormer COOFT$7,788-$7,788
Jeff RoeggeDirector/ Fo-$3,624$1,897$5,521

Board Members and Trustees

NameTitle
Dr Paulette DillardBoard Chair
Stephanie S TwittyBoard Chair
Nancy Patrick StroudBoard Secret
Ted ArcherBoard Vice C
Arnold AlstonDirector
Bobby RobinsonDirector
Dr Joseph FoxDirector
Frank PollockDirector
Grace NystrumDirector
Huntley GarriottDirector
Jada Grandy-mockDirector
James SillsDirector
Jeffrey HastingsDirector
Larry GarciaDirector
Madison PotterDirector
Natalie Haskins-englishDirector
Rodrick BanksDirector
Tiffany McneillDirector
Dr Pamela SenegalTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Vann AttorneysLegal Services1720 HILLSBOROUGH ST, Raleigh, NC 27605$145,785
Revenue and Support

Revenue Composition

Contributions and Grants
$5,043,896
Program Service Revenue
$2,862,999
Investment Income
$11,979
Other Revenue
$63,519
All Other Contributions
$2,522,879
Change in Net Assets
$813,378

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,982,393
Revenue Not Reported on Form 990
$9,887
Total Revenue per Audited Statements
$7,992,280
Total Revenue per Form 990
$7,982,393
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,841,444
Salaries, Compensation, and Employee Benefits$2,271,977
Grants and Similar Amounts Paid$1,055,594
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$960,542$496,875-$1,457,417
Grants to Domestic Orgs$1,055,594--$1,055,594
Fees for Services Other$460,890$178,301-$639,191
Interest$603,484--$603,484
Current Officers, Directors, Trustees, and Key Employees$268,902$139,098-$408,000
Other Employee Benefits$154,873$46,261-$201,134
Fees for Services Lobbying$171,268--$171,268
Fees for Services Accounting$130,164$36,713-$166,877
Fees for Services Legal$116,620$32,893-$149,513
Payroll Taxes$112,132$33,494-$145,626
Information Technology$113,127$23,171-$136,298
Occupancy$100,764$28,421-$129,185
Pension Plan Contributions$46,046$13,754-$59,800
All Other Expenses$44,786$5,221-$50,007
Office Expenses$36,139$9,689-$45,828
Conferences and Meetings$37,481$6,614-$44,095
Insurance$32,795$9,250-$42,045
Advertising$33,170$8,293-$41,463
Other Expenses$30,738$8,670-$39,408
Depreciation Depletion$7,959$2,245-$10,204
Travel$4,382$1,236-$5,618
Total Functional Expenses$6,078,876$1,090,139$0$7,169,015

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,178,902
Expenses per Audited Statements$7,169,015
Total Expenses per Form 990$7,169,015
Expenses Not Reported on Form 990$9,887
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Oriental Pintles & Gudgeons LLCOriental, NC-Csbdf Borrower Grant$11,900
Reel Wireless IncWindsor, NC-Csbdf Borrower Grant$10,700
Trenton Auto PartsTrenton, NC-Csbdf Borrower Grant$10,700
Coles Chiropractic Center PllcNew Bern, NC-Csbdf Borrower Grant$10,685
Clarence LynchLouisburg, NC-Csbdf Borrower Grant$10,591
Crumb Construction LLCGreenville, NC-Csbdf Borrower Grant$10,403
Global Hauling LLCFayetteville, NC-Csbdf Borrower Grant$10,401
Yotaron Enrichment Resource CenterGreenville, NC-Csbdf Borrower Grant$10,380
Upkeeper Services IncGreenville, NC-Csbdf Borrower Grant$10,358
Optimumview Enterprises LLCSouthern Shores, NC-Csbdf Borrower Grant$10,326
Sa Core LLCDurham, NC-Csbdf Borrower Grant$10,000
Cable Paradise Park LLCGreenville, NC-Csbdf Borrower Grant$9,907
Plane Connection LLCNew Bern, NC-Csbdf Borrower Grant$9,845
Falcon Dyeing & Finishing LLCWindsor, NC-Csbdf Borrower Grant$9,772
DAWNSHA'S LOVING CHILDCARE CENTERGreenville, NC-Csbdf Borrower Grant$9,565
MITCHELL'S MEMORIAL FUNERAL HOME LLGreenville, NC-Csbdf Borrower Grant$9,348
VAL'S PUB & GRILL LLCNew Bern, NC-Csbdf Borrower Grant$9,200
Hawk Sauce Co LLCKinston, NC-Csbdf Borrower Grant$8,792
Ee & E PropertiesGreenville, NC-Csbdf Borrower Grant$8,781
Xpcs LLCGreenville, NC-Csbdf Borrower Grant$8,582
36 Chambers Martial Arts & FitnessHolly Springs, NC-Csbdf Borrower Grant$8,000
919 Island Cuisine IncRolesville, NC-Csbdf Borrower Grant$8,000
A Step Above Cleaning Service LLCWinstonsalem, NC-Csbdf Borrower Grant$8,000
A1 Sharper Image Truckin LLCRaleigh, NC-Csbdf Borrower Grant$8,000
Amelioron CorporationDurham, NC-Csbdf Borrower Grant$8,000
Andre Devonn MartinMount Olive, NC-Csbdf Borrower Grant$8,000
Arrowhead Industries IncHickory, NC-Csbdf Borrower Grant$8,000
Asheville Rooftop Bar Tours LLCAsheville, NC-Csbdf Borrower Grant$8,000
Ballantyne School of Music LLCCharlotte, NC-Csbdf Borrower Grant$8,000
Beard International LLCFayetteville, NC-Csbdf Borrower Grant$8,000
Bgc Ventures LLCAsheville, NC-Csbdf Borrower Grant$8,000
Big Dog TowingThomasville, NC-Csbdf Borrower Grant$8,000
Breakaway Cafe LLCChapel Hill, NC-Csbdf Borrower Grant$8,000
Cafe Frutta Fresca Gelato LLCSneads Ferry, NC-Csbdf Borrower Grant$8,000
Care 2 U Medical Services PllcNew Bern, NC-Csbdf Borrower Grant$8,000
Cbk of Nc IncBoone, NC-Csbdf Borrower Grant$8,000
Chios RotisserieincGarner, NC-Csbdf Borrower Grant$8,000
Citrus Cans LLCWilmington, NC-Csbdf Borrower Grant$8,000
Copper Door Cafes LLCHayesville, NC-Csbdf Borrower Grant$8,000
Crazy House Brewing LLCFuquay Varina, NC-Csbdf Borrower Grant$8,000
Cs Plumbing IncLancaster, SC-Csbdf Borrower Grant$8,000
Currie Chain Saw IncLumberton, NC-Csbdf Borrower Grant$8,000
Diamond N-d RoughWake Forest, NC-Csbdf Borrower Grant$8,000
Docterra Mobile Veterinary ServicesVale, NC-Csbdf Borrower Grant$8,000
Douglas R Harris IncGastonia, NC-Csbdf Borrower Grant$8,000
Ed Electronics Service LLCRaleigh, NC-Csbdf Borrower Grant$8,000
Edmund L Washington Enterprises DbaCharlotte, NC-Csbdf Borrower Grant$8,000
Elevate Mma Academy LLCDurham, NC-Csbdf Borrower Grant$8,000
Elias Logistics LLCGarner, NC-Csbdf Borrower Grant$8,000
En Route Carting LLCRaleigh, NC-Csbdf Borrower Grant$8,000
Energy Dance ComplexAlbermarle, NC-Csbdf Borrower Grant$8,000
Equiinternational IncSouthern Pines, NC-Csbdf Borrower Grant$8,000
Esteban Buch SirSwannanoa, NC-Csbdf Borrower Grant$8,000
F-t TruckingllcKernersville, NC-Csbdf Borrower Grant$8,000
Family Funeral Home and Cremation SDunn, NC-Csbdf Borrower Grant$8,000
Fight Sports Charlotte LLCCharlotte, NC-Csbdf Borrower Grant$8,000
Finishes Solutions LLCRaleigh, NC-Csbdf Borrower Grant$8,000
First Class Preparatory School LLCGastonia, NC-Csbdf Borrower Grant$8,000
Fondu Fundraising LLCCandler, NC-Csbdf Borrower Grant$8,000
Forever Green of the Carolinas IncGrover, NC-Csbdf Borrower Grant$8,000
Freeway LogisticsllcGreensboro, NC-Csbdf Borrower Grant$8,000
Front Line Fitness LLCRaleigh, NC-Csbdf Borrower Grant$8,000
GERT'S BAKERY LLCConcord, NC-Csbdf Borrower Grant$8,000
Gbh Flowers Events IncRaleigh, NC-Csbdf Borrower Grant$8,000
Genesis Concrete LLCWake Forest, NC-Csbdf Borrower Grant$8,000
Get Craftea LLCJacksonville, NC-Csbdf Borrower Grant$8,000
Grace Federal Solutions LLCRaleigh, NC-Csbdf Borrower Grant$8,000
Gracie Sturdivant Care HomesKnightdale, NC-Csbdf Borrower Grant$8,000
Green River Forest Products and SerRutherfordton, NC-Csbdf Borrower Grant$8,000
Hampstead Donuts IncHampstead, NC-Csbdf Borrower Grant$8,000
Himalayan Hideaway Salt CaveWinstonsalem, NC-Csbdf Borrower Grant$8,000
Hosco LLCAsheville, NC-Csbdf Borrower Grant$8,000
Incubus CorpLumberton, NC-Csbdf Borrower Grant$8,000
Infinity Care LLCWinston Salem, NC-Csbdf Borrower Grant$8,000
Iris Coffee Lab and CafeRaleigh, NC-Csbdf Borrower Grant$8,000
J&r Hauling Trucking LLCChapel Hill, NC-Csbdf Borrower Grant$8,000
Keep Spinning Studios LLCRaeford, NC-Csbdf Borrower Grant$8,000
Kimbees IncGreensboro, NC-Csbdf Borrower Grant$8,000
King of Kings Painting IncAsheville, NC-Csbdf Borrower Grant$8,000
LISANDRA'S CREATIVE HANDSGreenville, SC-Csbdf Borrower Grant$8,000
Latin American Food Products IncCharlotte, NC-Csbdf Borrower Grant$8,000
Latino Rental Party LLCRaleigh, NC-Csbdf Borrower Grant$8,000
Locus Family Centered Therapies PlRaleigh, NC-Csbdf Borrower Grant$8,000
Logistics Healthcare ManagementRaleigh, NC-Csbdf Borrower Grant$8,000
Long Strokes for Different FolksWinnabow, NC-Csbdf Borrower Grant$8,000
Luis Moreno SilvaAsheville, NC-Csbdf Borrower Grant$8,000
M2m Salon DurhamDurham, NC-Csbdf Borrower Grant$8,000
Market Solutions GroupRaleigh, NC-Csbdf Borrower Grant$8,000
Mary HymanLucama, NC-Csbdf Borrower Grant$8,000
Mold Free Nc LLCGreensboro, NC-Csbdf Borrower Grant$8,000
Mountain Food TruckAsheville, NC-Csbdf Borrower Grant$8,000
Multi Servicios IncRaleigh, NC-Csbdf Borrower Grant$8,000
Murrayville Donuts IncWilmington, NC-Csbdf Borrower Grant$8,000
New Dawn Enteprrises LLCRaleigh, NC-Csbdf Borrower Grant$8,000
Nick & Mike Bar and GrillCharlotte, NC-Csbdf Borrower Grant$8,000
Owens Transmission Clinic IncFayetteville, NC-Csbdf Borrower Grant$8,000
Phenom Trucking LLCCharlotte, NC-Csbdf Borrower Grant$8,000
Qualia Data Solutions LLCMagnolia, NC-Csbdf Borrower Grant$8,000
Queen City EndeavorsCharlotte, NC-Csbdf Borrower Grant$8,000
SOULJAH'S SPA & NAILS LLCSpring Lake, NC-Csbdf Borrower Grant$8,000
Sativarg IncCharlotte, NC-Csbdf Borrower Grant$8,000
Smallcakes Hickory CorporationConover, NC-Csbdf Borrower Grant$8,000
Sneads Ferry Foods IncSneads Ferry, NC-Csbdf Borrower Grant$8,000
Stavis Sandwiches LLCWake Forest, NC-Csbdf Borrower Grant$8,000
Stealthenomics LLCCharlotte, NC-Csbdf Borrower Grant$8,000
Stratcon Contracting CorpRaleigh, NC-Csbdf Borrower Grant$8,000
Street SpiceCharlotte, NC-Csbdf Borrower Grant$8,000
Sunbird Window Cleaning LLCRaleigh, NC-Csbdf Borrower Grant$8,000
Surf City Beach Donuts IncSurf City, NC-Csbdf Borrower Grant$8,000
Swannanoa FlooringSwannanoa, NC-Csbdf Borrower Grant$8,000
Tbm Smallcakes IncAsheville, NC-Csbdf Borrower Grant$8,000
The Carthens Law Firm PllcFayetteville, NC-Csbdf Borrower Grant$8,000
The Morning Jump LLCSpring Lake, NC-Csbdf Borrower Grant$8,000
The Pines Country InnPisgah Forest, NC-Csbdf Borrower Grant$8,000
The Staffing Alliance LLCLumberton, NC-Csbdf Borrower Grant$8,000
The Yoga Bridge LLCAsheville, NC-Csbdf Borrower Grant$8,000
To the Top TruckingRocky Mount, NC-Csbdf Borrower Grant$8,000
Tracy SmithLouisburg, NC-Csbdf Borrower Grant$8,000
Triangle Driving SchoolRaleigh, NC-Csbdf Borrower Grant$8,000
Twitch Bar & Grill LLCRocky Mount, NC-Csbdf Borrower Grant$8,000
Waycaster Tire Service IncMills River, NC-Csbdf Borrower Grant$8,000
West Counseling PllcConcord, NC-Csbdf Borrower Grant$8,000
MAMA'S MINIMARTSanford, NC-Csbdf Borrower Grant$6,819
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$70,868
Fundraising Direct Expenses$9,887
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Bew$44,920$44,920$6,664$38,256
Sba Luncheon$17,008$17,008$1,723$15,285
Total Events$70,868$70,868$9,887$60,981
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Stephanie Swepson-twittyBoard RelationsO/s Loan to OrgNo$1,700,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held in Agency$1,803,540
Ppp Loan$656,900
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
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
No

Governance Explanations

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

“The form 990 is reviewed by the ceo, cfo and the finance committee chair and is provided to finance committee members for review prior to its filing.”

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
Kevin Dick
Title
President & CEO
Phone
9195301683
Signed
2022-05-16

Organization Details

Principal Officer
Kevin Dick
Formed
1990
Legal Domicile
Nc
Voting Board Members
17
Independent Board Members
17
Employees
39
Volunteers
6

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 XI, Line 9

“Special event expenses 9,887 special event expenses -9,887”

Financial Statement Notes

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

“Special event expenses 9,887”

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

“Special event expenses 9,887”

Raw XML AppendixShowing 400 of 1,694 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/ActivityOrMissionDesc0OUR 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/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT &
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IRS990/Form990PartVIISectionAGrp/TitleTxt2CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR (
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR/ FO
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23BOARD SECRET
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IRS990/InformationTechnologyGrp/ProgramServicesAmt0113127
IRS990/InformationTechnologyGrp/TotalAmt0136298
IRS990/InsuranceGrp/ManagementAndGeneralAmt09250
IRS990/InsuranceGrp/ProgramServicesAmt032795
IRS990/InsuranceGrp/TotalAmt042045
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IRS990/OtherExpensesGrp/Desc1GRANT REPAYMENT
IRS990/OtherExpensesGrp/Desc2TELEPHONE
IRS990/OtherExpensesGrp/Desc3SUBSCRIPTION AND DUES
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IRS990/OtherExpensesGrp/ProgramServicesAmt01434971
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IRS990/OtherExpensesGrp/ProgramServicesAmt330738
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IRS990/OtherExpensesGrp/TotalAmt186813
IRS990/OtherExpensesGrp/TotalAmt245176
IRS990/OtherExpensesGrp/TotalAmt339408
IRS990/OtherLiabilitiesGrp/BOYAmt03671923
IRS990/OtherLiabilitiesGrp/EOYAmt02460440
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0960542
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt046046
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0923178
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0335487

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$38,671,185
Liabilities
$24,354,817
Net assets
$14,316,368
Revenue
$7,982,393
Expenses
$7,169,015
Net income
$813,378
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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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