Arkansas Capital Corporation
- Assets
- $24.0m
- Revenue
- $6.2m
- Investments
- $7.2m
- Employees
- 24
- Location
- Little Rock, AR
- Founding
- 01/1965
- Data as of
- 12/2022
- EIN
- 71-0312420
Organization Overview
Arkansas Capital Corporation is located in Little Rock, AR. The organization was established in 1965. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Arkansas Capital Corporation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkansas Capital Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Arkansas Capital Corporation generated $6.2m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $5.1m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 5 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, STIMULATE, DEVELOP AND ADVANCE THE BUSINESS PROSPERITY AND ECONOMIC WELFARE OF THE STATE OF ARKANSAS AND THE BORDERING STATES AND TO PROVIDE FINANCING FOR THE PROMOTION, DEVELOPMENT AND CONDUCT OF ALL KINDS OF BUSINESS ACTIVITIES IN THIS STATE; TO ASSIST IN THE ECONOMIC DEVELOPMENT OF ARKANSAS PRIMARILY THROUGH INTERMEDIATE AND LONG-TERM LOANS FOR EXPANSION OF ARKANSAS ENTERPRISES; TO ENGAGE IN ACTIVITIES, THROUGH VARIOUS AFFILIATES, WHICH PROVIDE ECONOMIC DEVELOPMENT BENEFITS TO THE STATE OF ARKANSAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARKANSAS CAPITAL CORPORATION IS A PRIVATE, TAX-EXEMPT NON-PROFIT ORGANIZATION WHICH PRIMARILY PROVIDES LOANS AND GOVERNMENT PROGRAM RESOURCES FOR THE EXPANSION OF ARKANSAS ENTERPRISES. THE CORPORATION IS ORGANIZED TO PROMOTE ECONOMIC GROWTH THROUGH ENTREPRENEURISM WITHIN THE STATE OF ARKANSAS AND THE BORDERING STATES AND TO PERFORM ANY OTHER ACT PERMISSIBLE FOR AN ORGANIZATION DESCRIBED IN SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE, OR THE CORRESPONDING PROVISION OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAW.
PROVIDE SBA LENDING TO LOAN CUSTOMERS IN THE STATE OF ARKANSAS AND THE BORDERING STATES AND PROVIDE MANAGEMENT AND PERSONNEL SERVICES FOR VARIOUS NOT-FOR-PROFIT RELATED ENTITIES.
ARKANSAS CAPITAL CORPORATION FORMED PINE STATE REGIONAL CENTER AS AN ARKANSAS LIMITED LIABILITY COMPANY TO SPONSOR QUALIFIED EB-5 PROJECTS THAT PROMOTE THE EXPANSION OF THE REGIONAL ECONOMY BY INCREASING EXPORTS, HOUSEHOLD EARNING, PRODUCTIVITY, AND DOMESTIC CAPITAL - ALL WITH A PARTICULAR EMPHASIS ON PERMANENT JOB CREATION WITHIN PINE STATE REGIONAL CENTER'S GEOGRAPHIC FOOTPRINT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Burns Chairman | OfficerTrustee | 0 | $0 |
Carroll Penick Vice Chairman | OfficerTrustee | 0 | $0 |
William Staed Director | Trustee | 0 | $0 |
Jeff Amerine Director | Trustee | 0 | $0 |
David Shindler Director | Trustee | 0 | $0 |
Virgil L Miller Jr 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 | $2,851,603 |
| Investment income | $27,889 |
| 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 | $6,212,873 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $62,900 |
| 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. | $2,112,965 |
| Compensation of current officers, directors, key employees. | $109,732 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $675,233 |
| Pension plan accruals and contributions | $67,772 |
| Other employee benefits | $110,221 |
| Payroll taxes | $169,123 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,348 |
| Fees for services: Accounting | $120,466 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $107,762 |
| Advertising and promotion | $125,151 |
| Office expenses | $145,871 |
| Information technology | $148,758 |
| Royalties | $0 |
| Occupancy | $298,075 |
| Travel | $109,656 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,107 |
| Interest | $225,815 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $86,568 |
| Insurance | $121,019 |
| All other expenses | $93,662 |
| Total functional expenses | $5,125,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $603,191 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $220,123 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,062,803 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $217,210 |
| Net Land, buildings, and equipment | $549,234 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,163,659 |
| Investments—program-related | $0 |
| Intangible assets | $106,934 |
| Other assets | $4,111,993 |
| Total assets | $24,035,147 |
| Accounts payable and accrued expenses | $493,776 |
| Grants payable | $0 |
| Deferred revenue | $96,828 |
| 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 | $3,297,663 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,318,096 |
| Total liabilities | $6,206,363 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $97,700 |
| Paid-in or capital surplus, or land, building, or equipment fund | $301,000 |
| Retained earnings, endowment, accumulated income, or other funds | $17,430,084 |
| Total liabilities and net assets/fund balances | $24,035,147 |