Gloucester Revolving Loan Fund Inc
- Assets
- $869.3k
- Revenue
- $202.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Foster, VA
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-1214812
Organization Overview
Gloucester Revolving Loan Fund Inc, operating under the name None, is located in Foster, VA. The organization was established in 2014. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., 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. None 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 12/2021, None generated $202.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 44.7% each year . All expenses for the organization totaled $249.8k during the year ending 12/2021. 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
THE GLOUCESTER REVOLVING LOAN FUND HAS BEEN ESTABLISHED TO PROVIDE PARTIAL FUNDING FOR BUSINESSES AND NON-PROFIT ORGANIZATIONS UNDERTAKING ACTIVITIES BROADLY DEFINED AS ECONOMIC DEVELOPMENT WITHIN THE GLOUCESTER VILLAGE AREA OF GLOUCESTER COUNTY, VIRGINIA, AS DEFINED BY THE ARTICLES OF INCORPORATION OF THE CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED INTEREST FREE LOANS TO PROMOTE ECONOMIC STABILITY DURING THE PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James A Robinson Jr Chairman | Officer | 1 | $5,023 |
Steven D Calls Secretary | Officer | 0.25 | $0 |
Nam Vu Board Member | Officer | 0.25 | $0 |
Cordon Davis Board Member | Officer | 0.25 | $0 |
Pat Houtz Board Member | Officer | 0.25 | $0 |
Joe Heyman Board Member | Officer | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $176,813 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $202,113 |
| Total Program Service Revenue | $204 |
| 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 | $202,317 |
| 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. | $5,023 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,031 |
| Fees for services: Accounting | $1,225 |
| 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 | $5,137 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,555 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $19,632 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,473 |
| All other expenses | $50 |
| Total functional expenses | $249,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $209,027 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $623,451 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,846 |
| Total assets | $869,324 |
| Accounts payable and accrued expenses | $0 |
| 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 | $825,000 |
| Total liabilities | $825,000 |
| Net assets without donor restrictions | $0 |
| 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 | $44,324 |
| Total liabilities and net assets/fund balances | $869,324 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Gloucester Revolving Loan Fund Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Main Street Gloucester Preservation Trust Gloucester, VA PURPOSE: TO SUPPORT ORGANIZATION'S TAX-EXEMPT PURPOSE FOR ECONOMIC DEVELOPMENT OF THE GLOUCESTER COUNTY AREA. | $25,000 |
Main Street Gloucester Preservation Trust Gloucester, VA PURPOSE: TO SUPPORT ORGANIZATION'S TAX-EXEMPT PURPOSE FOR ECONOMIC DEVELOPMENT OF THE GLOUCESTER COUNTY AREA. | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Self-Help Services Corp Durham, NC | $8,574,851 | $67,460,504 |
International Training Fund Annapolis, MD | $65,607,769 | $32,226,310 |
Center For Community Change Washington, DC | $47,020,939 | $18,160,209 |
People Incorporated Of Virginia Abingdon, VA | $22,478,644 | $16,537,740 |
Community Ventures Corporation Inc Lexington, KY | $84,057,573 | $14,249,179 |
Heart Of America Foundation Washington, DC | $21,952,714 | $13,311,439 |
Waterfront Partnership Of Baltimore Inc Baltimore, MD | $10,304,693 | $15,904,703 |
N Street Village Inc Washington, DC | $31,040,838 | $11,867,277 |
Lake Monticello Owners Association Lake Monticello, VA | $27,325,227 | $9,680,580 |
Competitive Enterprise Institute Washington, DC | $5,463,449 | $7,758,776 |
Building Bridges Across The River Washington, DC | $56,784,233 | $13,914,024 |
Echelon Community Services Washington, DC | $2,480,354 | $6,411,075 |