Institute Capital Inc

Organization Overview

Institute Capital Inc is located in Durham, NC. The organization was established in 2000. According to its NTEE Classification (S30) the organization is classified as: Economic 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. Institute 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 12/2022, Institute Capital Inc generated $2.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $2.6m during the year ending 12/2022. While expenses have increased by 14.3% 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.

Since 2020, Institute Capital Inc has awarded 22 individual grants totaling $1,008,335. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

INSTITUTE CAPITAL, INC. IS A NOT-FOR-PROFIT ORGANIZATION WHOSE PURPOSE IS TO DEVELOP AND/OR PRESERVE AFFORDABLE HOUSING, ENCOURAGE AND STIMULATE COMMUNITY AND ECONOMIC DEVELOPMENT, AND EXPAND ECONOMIC OPPORTUNITIES AND PROVIDE FINANCING FOR COMMUNITY DEVELOPMENT ACTIVITIES. INSTITUTE CAPITAL INC. IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY AND IS SUPPORTED PRIMARILY BY GOVERNMENT GRANTS AND INCOME FROM LOANS. THE ORGANIZATION'S INVESTMENT AREA INCLUDES NORTH CAROLINA, SOUTH CAROLINA, VIRGINIA, WEST VIRGINIA, KENTUCKY, AND THE DC METRO AREA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY. THIS STATE WIDE PUBLIC-PRIVATE PARTNERSHIP PROVIDES LEADERSHIP AND CAPITAL INVESTMENTS TO ENCOURAGE AND STIMULATE COMMUNITY DEVELOPMENT, EXPAND ECONOMIC OPPORTUNITIES, AND PROVIDE FINANCING FOR COMMUNITY AND ECONOMIC DEVELOPMENT ACTIVITIES.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $941,667
All other contributions, gifts, grants, and similar amounts not included above$428,721
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,370,388
Total Program Service Revenue$1,492,888
Investment income $835
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$5,674
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,867,118

Grants Awarded

Over the last fiscal year, Institute Capital Inc has awarded $408,334 in support to 5 organizations.

Grant RecipientAmount

CUNNINGHAM & SONS MORTUARY INC

PURPOSE: DISASTER RECOVERY

$100,000

C&M UNISEX HAIR SALON AND BARBERSHO

PURPOSE: DISASTER RECOVERY

$33,334

HEART TO HEART SITTER SERVICES LLC

PURPOSE: DISASTER RECOVERY

$25,000

SIMMONS EARLY INTERVENTION THERAPY

PURPOSE: DISASTER RECOVERY

$100,000

GRANIT TRAINING GROUP LLC

PURPOSE: DISASTER RECOVERY

$150,000
View Grant Profile

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$12,349,629
Wayne County Development Allianceinc
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$10,587,622
Knoxville Convention & Visitors Bureau Inc
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$10,096,746
Center For Regional Economic Competitiveness
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$5,182,427
Mdc Inc
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$15,380,803
Columbia Metropolitan Convention And Visitors Bureau
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$5,816,998
South Carolina I-77 Alliance
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$6,505,378
Blount Partnership
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$4,967,390
Fairfax County Convention And Visitors Corporation
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$4,753,430
Alexandria Convention And Visitors Association Inc
Alexandria, VA
$4,587,998
Srs Community Reuse Organization
Aiken, SC
$4,532,694
Roanoke Valley Convention And Vis- Itors Bureau
Roanoke, VA
$4,018,675
Well Coffeehouse
Nashville, TN
$3,847,156
Cartersville-Bartow County Tourism Council
Cartersville, GA
$4,081,931
Vibrant Memphis Inc
Memphis, TN
$2,621,131
Hampton Roads Economic Development Alliance
Norfolk, VA
$3,867,938
Tellico Reservoir Development Agency
Vonore, TN
$4,266,722
Mdcdc Inc
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$2,975,790
Palmetto Economic Development Corp
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$3,424,081

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