Carolina Business Capital
- Assets
- $4.9m
- Revenue
- $599.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Charlotte, NC
- Founding
- 09/1983
- Data as of
- 09/2021
- EIN
- 58-1480391
Organization Overview
Carolina Business Capital is located in Charlotte, NC. The organization was established in 1983. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Carolina Business Capital employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Business Capital is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Carolina Business Capital generated $599.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $506.8k during the year ending 09/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CBC IS A NONPROFIT, NON-STOCK CORPORATION WHOSE PURPOSE IS TO PROMOTE ECONOMIC GROWTH AND DEVELOPMENT OF SMALL BUSINESSES IN NORTH CAROLINA THROUGH THE ORIGINATION AND SERVICING OF SBA LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CBC IS A CERTIFIED DEVELOPMENT COMPANY AS DESIGNATED BY THE U.S. SMALL BUSINESS ADMINISTRATION. CBC HAS PARTICIPATED EXCLUSIVELY IN THE SBA 504 AND 503 PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric L Dixon President | Officer | 40 | $84,000 |
Joe Jackson Chairman | OfficerTrustee | 0 | $0 |
Tim Carswell Secretary | OfficerTrustee | 0 | $0 |
Rusty Price Director | Trustee | 0 | $0 |
Doug Sutherland Director | Trustee | 0 | $0 |
Richard Robertson Director | Trustee | 0 | $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 | $428,869 |
| Investment income | $37,563 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $133,057 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $599,489 |
| 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. | $118,092 |
| Compensation of current officers, directors, key employees. | $18,895 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $84,119 |
| Pension plan accruals and contributions | $12,243 |
| Other employee benefits | $38,925 |
| Payroll taxes | $15,341 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,857 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,741 |
| Fees for services: Other | $132,028 |
| Advertising and promotion | $0 |
| Office expenses | $5,591 |
| Information technology | $13,014 |
| Royalties | $0 |
| Occupancy | $15,225 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,646 |
| Interest | $620 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,629 |
| Insurance | $10,976 |
| All other expenses | $3,998 |
| Total functional expenses | $506,833 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,861 |
| Savings and temporary cash investments | $246,826 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $247,882 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $506,233 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,545 |
| Net Land, buildings, and equipment | $320,270 |
| Investments—publicly traded securities | $3,482,461 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,850,078 |
| Accounts payable and accrued expenses | $23,437 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $175,167 |
| Total liabilities | $198,604 |
| Net assets without donor restrictions | $4,651,474 |
| 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 | $4,850,078 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Carolina Manufacturing Extension Partnership Greenville, SC | $4,506,207 | $8,798,009 |
Norfolk State University Research And Innovation Foundation Norfolk, VA | $25,278,732 | $5,808,933 |
Black Girl Ventures Foundation Fort Belvoir, VA | $2,941,094 | $3,288,394 |
Brightbridge Inc Chattanooga, TN | $120,622,501 | $3,473,186 |
National Institute Of Minority Economic Development Durham, NC | $8,985,701 | $1,722,745 |
Winston Starts Winstonsalem, NC | $2,039,563 | $1,547,404 |
Wilmington Business Development Wilmington, NC | $1,640,676 | $1,342,071 |
Carolinas-Virginia Minority Supplier Developoment Councils Inc Charlotte, NC | $1,397,364 | $1,303,584 |
Provident Business Financial Services Inc West Columbia, SC | $539,066 | $980,704 |
Nussbaum Center For Entrepreneurship Inc Greensboro, NC | $5,252,016 | $1,124,383 |
Startup Virginia Richmond, VA | $1,761,356 | $941,595 |
Piedmont Business Capital Greensboro, NC | $3,626,382 | $1,839,047 |