Partner Community Capital Inc
- Assets
- $98.1m
- Revenue
- $17.6m
- Investments
- $0.0
- Employees
- 33
- Location
- Charles Town, WV
- Founding
- 10/2002
- Data as of
- 12/2023
- EIN
- 54-2058754
Organization Overview
Partner Community Capital Inc is located in Charles Town, WV. The organization was established in 2002. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, Partner Community Capital Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Partner Community Capital Inc 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 12/2023, Partner Community Capital Inc generated $17.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $7.2m during the year ending 12/2023. While expenses have increased by 14.0% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL & TECHNICAL ASSISTANCE FOR SMALL BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LENDING PROGRAM: PCAP IS A SPECIALIZED, NICHE LENDER FOR START-UP AND EARLY STAGE SMALL BUSINESSES IN UNDERSERVED MARKETS. THE PRIMARY GOAL OF ITS LOAN PROGRAMS IS TO CREATE OR RETAIN FULL-TIME PRIVATE SECTOR JOBS. PCAP PROVIDES MICROLOANS IN AMOUNTS FROM $1,000 TO $50,000 AND BUSINESS LOANS SIZED FROM $50,000 TO $1,500,000. PCAP IS APPROVED AS A UNITED STATES DEPARTMENT OF AGRICULTURE (USDA) BUSINESS & INDUSTRY (B & I) GUARANTEED LENDER, GIVING IT THE ABILITY TO PARTICIPATE IN TRANSACTIONS UP TO $2.5 MILLION.PCAP'S BUSINESS CLIENTS ARE PREDMOMINATELY LOCATED IN ECONOMICALLY DISTRESSED RURAL COMMUNITIES AND ARE UNABLE TO ACCESS CAPITAL FROM TRADITIONAL SOURCES. TARGET SECTORS INCLUDE, BUT ARE NOT LIMITED TO: ENVIRONMENTAL SERVICES, LOCAL FOOD SYSTEM INFRASTRUCTURE, HERITAGE AND RECREATION-BASED TOURISM, VALUE-ADDED AGRICULTURE, RENEWABLE ENERGY, ENERGY EFFICIENCY, RECYCLING, WATER CONSERVATION AND TREATMENT, SECONDARY FOREST PRODUCTS, NATURAL MEDICINES, GREEN BUILDING, CRITICAL COMMUNITY SERVICES, AND TECHNOLOGIES THAT SUPPORT THE SUSTAINABLE USE OF NATURAL RESOURCES. PCAP PURSUES TRIPLE BOTTOM LINE (TBL) SMALL BUSINESS DEVELOPMENT AS A MEANS TO RESPONSIBLY CREATE WEALTH IN DISTRESSED COMMUNITIES. SMALL AND MID-SIZED BUSINESSES CAN DEMONSTRATE THE VIABILITY OF UTILIZING NATURAL ASSETS RESPONSIBLY, WHILE OFFERING OPPORTUNITIES IN LOW INCOME COMMUNITIES TO BUILD WEALTH THROUGH THE CREATION OF LIVING WAGE JOBS WITH BENEFITS AND SKILL BUILDING OPPORTUNITIES.
STRATEGIC INITIATIVES PROGRAM: PCAP'S STRATEGIC INITIATIVES USE TARGETED FUNDING AND PARTNERSHIPS WITH SMALL BUSINESS-RELATED OR SECTOR-SPECIFIC COMMUNITY PARTNERS TO DEVOTE ADDED RESOURCES TO PARTICULAR SECTORS OR CONSTITUENCIES WITHIN PCAP'S STATED MISSION. THESE INITIATIVES FREQUENTLY COMBINE PCAP'S LOAN CAPITAL WITH TARGETED BUSINESS ADVISORY SERVICES IN ORDER TO ENSURE BORROWER SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Lusk Chairman | OfficerTrustee | 3 | $0 |
Karen Jacobson Vice Chair | OfficerTrustee | 3 | $0 |
Roberta Mccullough Treasurer | OfficerTrustee | 3 | $0 |
Vicki Lee Parker-High Secretary | OfficerTrustee | 1 | $0 |
Jeffrey A Austin Director, Start 7/1/2023 | Trustee | 1 | $0 |
Amy King Condaras Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,531,168 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,602,108 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,133,276 |
| Total Program Service Revenue | $4,821,816 |
| Investment income | $676,791 |
| 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 | $17,631,883 |
| 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. | $711,298 |
| Compensation of current officers, directors, key employees. | $192,973 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,858,715 |
| Pension plan accruals and contributions | $135,352 |
| Other employee benefits | $271,964 |
| Payroll taxes | $218,116 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $96,926 |
| Fees for services: Accounting | $51,589 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,146 |
| Fees for services: Other | $868,914 |
| Advertising and promotion | $63,834 |
| Office expenses | $100,549 |
| Information technology | $173,231 |
| Royalties | $0 |
| Occupancy | $135,035 |
| Travel | $78,945 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,530 |
| Interest | $1,733,786 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $34,560 |
| All other expenses | $18,328 |
| Total functional expenses | $7,176,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,670,471 |
| Savings and temporary cash investments | $22,228,947 |
| Pledges and grants receivable | $2,325,462 |
| Accounts receivable, net | $523,010 |
| 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 | $57,716 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $68,222,154 |
| Intangible assets | $27,791 |
| Other assets | $47,634 |
| Total assets | $98,103,185 |
| Accounts payable and accrued expenses | $848,391 |
| 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 | $3,479,727 |
| Unsecured mortgages and notes payable | $55,442,640 |
| Other liabilities | $1,760,604 |
| Total liabilities | $61,531,362 |
| Net assets without donor restrictions | $22,027,859 |
| Net assets with donor restrictions | $14,543,964 |
| 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 | $98,103,185 |