Advancement Regional Business Lenders Inc
- Assets
- $4.5m
- Revenue
- $187.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Lumberton, NC
- Founding
- 06/1969
- Data as of
- 09/2023
- 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 09/2023, 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 09/2023, Advancement Regional Business Lenders Inc generated $187.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $224.5k during the year ending 09/2023. 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
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Alsup Board Member | Trustee | $0 | |
Michael Davis Board Member | Trustee | $0 | |
Marie Gibson Executive Co | Trustee | $0 | |
Chuck Heustess Board Member | Trustee | $0 | |
Butch Hooks Board Member | Trustee | $0 | |
Wayne Horne Vice Preside | OfficerTrustee | $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 | $187,249 |
| 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 | $187,249 |
| 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 | $133,280 |
| Pension plan accruals and contributions | $2,054 |
| Other employee benefits | $3,190 |
| Payroll taxes | $20,370 |
| 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 | $832 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,501 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,258 |
| Interest | $28,444 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,687 |
| Insurance | $5,247 |
| All other expenses | $7,577 |
| Total functional expenses | $224,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,674,919 |
| 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 | $2,721,747 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $57,936 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,256 |
| Total assets | $4,466,858 |
| Accounts payable and accrued expenses | $100,523 |
| 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 | $3,240,367 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $36,430 |
| Total liabilities | $3,377,320 |
| Net assets without donor restrictions | $1,089,538 |
| 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 | $4,466,858 |