Small Business Capital Fund Of Misissippi Inc
- Assets
- $2.7m
- Revenue
- $254.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Jackson, MS
- Founding
- 03/1994
- Data as of
- 12/2019
- EIN
- 64-0835598
Organization Overview
Small Business Capital Fund Of Misissippi Inc, operating under the name Sbcf, is located in Jackson, MS. The organization was established in 1994. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2019, Sbcf employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sbcf 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 12/2019, Sbcf generated $254.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 34.4% each year . All expenses for the organization totaled $243.8k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO STIMULATE AND FOSTER ECONOMIC DEV. BY PROVIDING EDUATION, MENTORING AND ASSISTING THE MINORIY BUSINESS COMMUNITY IN OBTAINING LOANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO STIMULATE ECONOMIC DEV. BY PROVIDING EDUCATION MENTORING AND ASSISTING THE MINORITY BUSINESS IN OBTAINING NON-TRADITIONAL LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Hendricks Executive Director | Officer | 40 | $72,000 |
J R Jones Chairman | Officer | 4 | $0 |
Luigi Dominighini Director | Officer | 1 | $0 |
Clarence Maholmes Secretary/treasurer\ | Officer | 1 | $0 |
Glendscene Williams Director | Trustee | 1 | $0 |
Sasha Castro Director | Trustee | 1 | $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 | $136,145 |
| Investment income | $47,890 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $70,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $254,035 |
| 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 | $139,634 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $250 |
| Office expenses | $5,957 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $14,351 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,392 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,228 |
| Insurance | $10,963 |
| All other expenses | $2,533 |
| Total functional expenses | $243,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,246 |
| Savings and temporary cash investments | $1,007,308 |
| 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 | $1,042,506 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,500 |
| Net Land, buildings, and equipment | $82,613 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $525,344 |
| Total assets | $2,709,517 |
| 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 | $1,180,876 |
| Total liabilities | $1,180,876 |
| 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 | $1,528,641 |
| Total liabilities and net assets/fund balances | $2,709,517 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Small Business Capital Fund Of Misissippi Inc has recieved totaling $200,000.
| Awarding Organization | Amount |
|---|---|
Appalachian Community Capital Development Foundation Christiansburg, VA PURPOSE: EMERGENCY BUSINESS RELIEF | $200,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consumer Credit Union Greeneville, TN | $557,161,210 | $15,832,085 |
Freedom Rain Inc Birmingham, AL | $1,488,299 | $8,388,398 |
Credit Counseling Of Arkansas Inc Fayetteville, AR | $985,008 | $1,311,283 |
Freedom 5 One Ministries Inc Fayetteville, AR | $49,283 | $395,535 |
Consumer Financial Education Foundation Of America Birmingham, AL | $77,557 | $391,699 |
Small Business Capital Fund Of Misissippi Inc Jackson, MS | $2,709,517 | $254,035 |
Spottswood Community Development Corporation New Orleans, LA | $257,528 | $286,037 |
Betterfi Coalmont, TN | $545,974 | $369,157 |
Compass Finances Gods Way Arkansas Inc North Little Rock, AR | $58,295 | $0 |
Dominion Financial Management Inc Smyrna, TN | $33,496 | $0 |
Faith Fund Baton Rouge, LA | $128,401 | $177,906 |
Ivy Center Of Huntsville Madison County Foundation Inc Huntsville, AL | $421,017 | $57,418 |