Flagship Enterprise Capital
- Assets
- $1.6m
- Revenue
- $440.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Anderson, IN
- Founding
- 12/2016
- Data as of
- 05/2023
- EIN
- 81-3693405
Organization Overview
Flagship Enterprise Capital is located in Anderson, IN. The organization was established in 2016. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Flagship Enterprise 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 05/2023, Flagship Enterprise Capital generated $440.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $360.4k during the year ending 05/2023. 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
A MISSION DRIVEN FINANCIAL INSTITUTION THAT HELPS PROVIDE FINANCIAL SERVICES TO MEET THE NEEDS OF ECONOMICALLY DISADVANTAGED BUSINESSES AND INDIVIDUALS IN UNDERSERVED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN THE FISCAL YEAR ENDING MAY 31, 2023, FLAGSHIP ENTERPRISE CAPITAL CLOSED 35 LOANS. OF THESE LOANS, 29 WERE DISBURSED TO MINORITIES, 19 TO WOMEN-OWNED BUSINESSES, 2 TO VETERANS, 21 TO START-UP ENTERPRISES, AND 14 TO LOW-INCOME BUSINESSES. ADDITIONALLY, FLAGSHIP ENTERPRISE CAPITAL PROVIDED 1,414 HOURS OF TECHNICAL ASSISTANCE TO ITS CLIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Alder Chairman | OfficerTrustee | 1.5 | $0 |
Jan Mansfield Director | Trustee | 0.5 | $0 |
William Birdsong Director | Trustee | 0.5 | $0 |
Annette Phillips Director | Trustee | 0.5 | $0 |
Jason King Director | Trustee | 0.5 | $0 |
Mathew Foley Director | Trustee | 0.5 | $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 | $353,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $353,000 |
| Total Program Service Revenue | $6,532 |
| Investment income | $81,084 |
| 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 | $440,616 |
| 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 | $73,713 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,875 |
| Fees for services: Accounting | $6,396 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,169 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,286 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,713 |
| All other expenses | $12 |
| Total functional expenses | $360,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $404,767 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,810 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,223,228 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,140 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,640,945 |
| 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 | $379,339 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $109,633 |
| Total liabilities | $488,972 |
| Net assets without donor restrictions | $1,051,973 |
| Net assets with donor restrictions | $100,000 |
| 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 | $1,640,945 |