Advancement Regional Business Lenders Inc
- Assets
- $4.1m
- Revenue
- $229.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Lumberton, NC
- Founding
- 06/1969
- Data as of
- 09/2022
- EIN
- 56-0906497
Organization Overview
Advancement Regional Business Lenders Inc is located in Lumberton, NC. The organization was established in 1969. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 09/2022, Advancement Regional Business Lenders Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advancement Regional Business Lenders Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 09/2022, Advancement Regional Business Lenders Inc generated $229.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $217.5k during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LOAN PROCESSING FOR SMALL BUSINESSES AND LOANS TO SMALL BUSINESSES WHICH CANNOT OBTAIN LOANS FROM FINANCIAL INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLEASE SEE PART 1, LINE 1, PAGE 1, FORM 990
SEE ORGANIZATION'S MISSION STATEMENT, ABOVE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Horne Vice Preside | OfficerTrustee | $0 | |
Leon Martin President | OfficerTrustee | $0 | |
Mack S Skipper Sec/treasure | OfficerTrustee | $0 | |
Greg Taylor Executive Di | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $229,565 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $229,565 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $125,996 |
| Pension plan accruals and contributions | $1,964 |
| Other employee benefits | $3,968 |
| Payroll taxes | $19,391 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $837 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $698 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $733 |
| Interest | $30,759 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,686 |
| Insurance | $4,713 |
| All other expenses | $7,675 |
| Total functional expenses | $217,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $933,950 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,073,885 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $60,622 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,256 |
| Total assets | $4,080,713 |
| Accounts payable and accrued expenses | $90,289 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,827,192 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $36,430 |
| Total liabilities | $2,953,911 |
| Net assets without donor restrictions | $1,126,802 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,080,713 |
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