Locus
- Assets
- $102.3m
- Revenue
- $44.5k
- Investments
- $2.4m
- Employees
- 0
- Location
- Richmond, VA
- Founding
- Data as of
- 12/2022
- EIN
- 86-3988949
Organization Overview
Locus is located in Richmond, VA. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, 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. Locus 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, Locus generated $44.5k in total revenue. All expenses for the organization totaled $4.6k during the year ending 12/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO OFFER INNOVATIVE, FLEXIBLE FINANCIAL PRODUCTS DESIGNED TO SUPPORT HOUSING AND COMMUNITY DEVELOPMENT VENTURES, INCREASE JOBS AND BUILD SUSTAINABLE COMMUNITIES. VCC OFFERS LOAN CAPITAL THAT IS BROADER THAN BANK LENDING TO PROJECTS THAT HAVE A POSITIVE IMPACT IN LOW TO MODERATE INCOME COMMUNITIES IN UNDERSERVED GEOGRAPHIES AND MARKETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO AIDE COMMUNITY AND ECONOMIC DEVELOPMENT INITIATIVES, EITHER DIRECTLY OR THROUGH INVESTMENTS IN SOCIAL ENTERPRISES THAT PROVIDE LOANS, LOAN GUARANTEES, OTHER FORMS OF DEBT OR EQUITY FINANCING FOR EARLY STAGE FOR-PROFIT AND NON-PROFIT BUSINESS ORGANIZATIONS, IMPACT ASSET SERVICING SERVICES AND GRANTS. ADDITIONALLY, THIS ORGANIZATION AND ITS SOCIAL ENTERPRISE SUBSIDIARIES MAY PROVIDE TECHNICAL ASSISTANCE TO BUSINESS OWNERS, COMMUNITY ORGANIZATIONS, CLIENTS AND MANAGERS IN THE EFFECTIVE OPERATION OF THEIR ENTERPRISE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane Henderson President & CEO | OfficerTrustee | 24 | $0 |
Kimberly Armstrong Director | Trustee | 1 | $0 |
Cathy Dolan Director | Trustee | 1 | $0 |
Robert Gilliam Jr Director | Trustee | 1 | $0 |
Dixon Hanna Director | Trustee | 1 | $0 |
James Harkness Jr 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 | $0 |
| Investment income | $44,482 |
| 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 | $44,482 |
| 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 | $0 |
| 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 | $4,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,600 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,956,253 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $355 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,386,797 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $89,971,057 |
| Total assets | $102,314,462 |
| Accounts payable and accrued expenses | $1,750 |
| 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 | $1,579,235 |
| Total liabilities | $1,580,985 |
| Net assets without donor restrictions | $90,751,169 |
| Net assets with donor restrictions | $9,982,308 |
| 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 | $102,314,462 |