Carolina Business Capital
- Assets
- $4.5m
- Revenue
- $647.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Charlotte, NC
- Founding
- 09/1983
- Data as of
- 09/2023
- EIN
- 58-1480391
Organization Overview
Carolina Business Capital is located in Charlotte, NC. The organization was established in 1983. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Carolina Business Capital employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Business Capital 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 09/2023, Carolina Business Capital generated $647.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $754.8k during the year ending 09/2023. While expenses have increased by 4.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CBC IS A NONPROFIT, NON-STOCK CORPORATION WHOSE PURPOSE IS TO PROMOTE ECONOMIC GROWTH AND DEVELOPMENT OF SMALL BUSINESSES IN NORTH CAROLINA THROUGH THE ORIGINATION AND SERVICING OF SBA LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CBC IS A CERTIFIED DEVELOPMENT COMPANY AS DESIGNATED BY THE U.S. SMALL BUSINESS ADMINISTRATION. CBC HAS PARTICIPATED EXCLUSIVELY IN THE SBA 504 AND 503 PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric L Dixon President | Officer | 40 | $153,231 |
Richard Robertson Director | Trustee | 0 | $0 |
Doug Sutherland Director | Trustee | 0 | $0 |
Eric Sowers Director | Trustee | 0 | $0 |
Brad Mcmillan Director | Trustee | 0 | $0 |
Adam Stewart Director | Trustee | 0 | $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 | $753,849 |
| Investment income | $56,100 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$162,725 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $647,224 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,501 |
| 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. | $153,231 |
| Compensation of current officers, directors, key employees. | $22,985 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $188,361 |
| Pension plan accruals and contributions | $18,737 |
| Other employee benefits | $38,274 |
| Payroll taxes | $26,657 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,709 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,270 |
| Fees for services: Other | $101,477 |
| Advertising and promotion | $2,535 |
| Office expenses | $8,108 |
| Information technology | $22,385 |
| Royalties | $0 |
| Occupancy | $28,908 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $79,977 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,059 |
| Insurance | $10,769 |
| All other expenses | $3,645 |
| Total functional expenses | $754,757 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,955 |
| Savings and temporary cash investments | $410,858 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $186,178 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $349,132 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,217 |
| Net Land, buildings, and equipment | $310,263 |
| Investments—publicly traded securities | $3,119,075 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,500,678 |
| Accounts payable and accrued expenses | $35,445 |
| 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 | $66,710 |
| Total liabilities | $102,155 |
| Net assets without donor restrictions | $4,398,523 |
| 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 | $4,500,678 |