River City Capital Investment Corp

Organization Overview

River City Capital Investment Corp is located in Memphis, TN. The organization was established in 2013. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. River City Capital Investment Corp 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 06/2023, River City Capital Investment Corp generated $1.7m in total revenue. All expenses for the organization totaled $578.5k during the year ending 06/2023. While expenses have increased by 48.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

RIVER CITY CAPITAL LLC IS A CDFI(COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION) WITH A DEDICATED MISSION TO ACCELERATE SHARED PROSPERITY & REVITALIZATION IN UNDERSERVED COMMUNITIES THROUGH THE PROVISIONS OF CAPITAL IN MEMPHIS & SHELBY COUNTY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LOAN FUNDING AND FINANCIAL SERVICES IN DISTRESSED, LOWER-INCOME COMMUNITIES.


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Board, Officers & Key Employees

Name (title)Compensation
Luther Mercer
President
$51,923
Gwyn Fisher
Chairperson
$0
Michelle Couch
Secretary
$0
Mr Mark Yates
Board Member
$0
Mr Phillip May
Treasurer
$0
Mr Sean Norris
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,000,000
All other contributions, gifts, grants, and similar amounts not included above$690,280
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,690,280
Total Program Service Revenue$0
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 $1,690,280

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