Skip to content
Nonprofiteer
← COMMUNITY INVESTMENT COLLABORATIVE

Form 990 for tax year 2023

Filed by COMMUNITY INVESTMENT COLLABORATIVE.

Totals

Total revenue
$2,055,191
Total expenses
$1,997,284
Contributions and grants received
$1,705,589
Grants paid
$170,000
Program service revenue
$324,713
Investment income
$24,889
Other revenue
$0
Total assets, end of year
$2,802,558
Total liabilities, end of year
$526,768
Net assets or fund balances, end of year
$2,275,790
Program services expenses (Part IX)
$1,774,461
Management and general expenses
$116,072
Fundraising expenses
$106,751
Program service expenses (Part III)
$1,774,461

Program services were 88.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $394,108

  • 1f · All other contributions, gifts and grants

    $1,311,481

  • 2a · Program service revenue: LOAN INTEREST AND FEES

    total $303,386 · related or exempt $303,386

  • 2b · Program service revenue: TUITION REVENUE

    total $16,290 · related or exempt $16,290

  • 2c · Program service revenue: ENTREPRENEUR

    total $5,037 · related or exempt $5,037

  • 3 · Investment income

    total $24,889 · excluded $24,889

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $170,000 · program services $170,000

  • 5 · Compensation of officers, directors and key employees

    total $127,300 · program services $114,421 · management and general $4,280 · fundraising $8,599

  • 7 · Other salaries and wages

    total $810,728 · program services $728,709 · management and general $27,258 · fundraising $54,761

  • 9 · Other employee benefits

    total $114,607 · program services $108,531 · management and general $3,705 · fundraising $2,371

  • 10 · Payroll taxes

    total $66,804 · program services $59,831 · management and general $2,421 · fundraising $4,552

  • 11b · Fees: legal

    total $8,367 · program services $8,367

  • 11c · Fees: accounting

    total $48,595 · program services $7,575 · management and general $41,020

  • 11g · Fees: other

    total $161,454 · program services $136,976 · management and general $575 · fundraising $23,903

  • 12 · Advertising and promotion

    total $8,159 · program services $7,141 · management and general $25 · fundraising $993

  • 13 · Office expenses

    total $48,162 · program services $34,444 · management and general $8,953 · fundraising $4,765

  • 14 · Information technology

    total $58,708 · program services $51,679 · management and general $6,900 · fundraising $129

  • 16 · Occupancy

    total $18,575 · program services $18,060 · management and general $15 · fundraising $500

  • 19 · Conferences, conventions and meetings

    total $54,407 · program services $54,045 · management and general $337 · fundraising $25

  • 22 · Depreciation, depletion and amortization

    total $103,787 · program services $91,632 · management and general $12,155

  • 23 · Insurance

    total $5,871 · management and general $5,871

  • 24a · Other expenses: LOAN LOSS PROVISION

    total $116,869 · program services $116,869

  • 24b · Other expenses: ENTREPRENEUR GRANTS

    total $48,051 · program services $48,051

  • 24c · Other expenses: SMALL EQUIPMENT

    total $12,563 · program services $10,233 · management and general $2,330

  • 24d · Other expenses: CATERING EVENTS

    total $8,335 · program services $4,465 · fundraising $3,870

  • 24e · All other expenses

    total $5,942 · program services $3,432 · management and general $227 · fundraising $2,283

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $796,139 · end of year $825,367

  • 2 · Savings and temporary cash investments

    beginning of year $490,529 · end of year $348,200

  • 4 · Accounts receivable

    beginning of year $244,822 · end of year $338,138

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,260

  • 10a · Land, buildings and equipment: cost or other basis

    $328,990

  • 10b · Land, buildings and equipment: accumulated depreciation

    $89,403

  • 10c · Land, buildings and equipment, net

    beginning of year $98,766 · end of year $239,587

  • 15 · Other assets

    beginning of year $925,878 · end of year $1,051,266

  • 17 · Accounts payable and accrued expenses

    beginning of year $48,511 · end of year $76,553

  • 23 · Secured mortgages and notes payable

    beginning of year $300,000 · end of year $300,000

  • 25 · Other liabilities

    end of year $150,215

  • 27 · Net assets without donor restrictions

    beginning of year $871,330 · end of year $593,941

  • 28 · Net assets with donor restrictions

    beginning of year $1,346,553 · end of year $1,681,849

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

COMMUNITY INVESTMENT COLLABORATIVE'S MISSION IS TO STRENGTHEN OUR COMMUNITY AND CONTRIBUTE TO ECONOMIC DEVELOPMENT BY FUELING THE SUCCESS OF UNDER- RESOURCED ENTREPRENEURS THROUGH EDUCATION, MENTORING, MICRO-LENDING AND NETWORKING.

  • CIC PROVIDES BUSINESS EDUCATION, MENTORING AND NETWORKING OPPORTUNITIES TO UNDER-RESOURCED ENTREPRENEURS. THE SIGNATURE EDUCATION PROGRAM IS A 16 WEE ENTREPRENEUR WORKSHOP THAT COMBINES CASE STUDIES, DISCUSSION AND APPLIED LEARNING. A FINANCIAL MANAGEMENT PROGRAM HELPS ENTREPRENEURS DEVELOP THE BOOKKEEPING, RECORD KEEPING, AND FINANCIAL ANALYSIS SKILLS AND HABITS TO BETTER MANAGE THEIR BUSINESS. ADDITIONAL PROGRAMS INCLUDE MENTORING, BUSINESS OFFICE HOURS, SMALL BUSINESS CIRCLES AND OUR COLLABORATIVE CO-WORKING SPACE. IN 2023, 208 CLIENTS PARTICIPATED IN CIC PROGRAMS. TO DATE: THERE ARE 563 GRADUATES OF OUR 16 WEEK WORKSHOP, 145 MENTOR MATCHES, AND 71 FINANCIAL MANAGEMENT PROGRAM PARTICIPANTS. TO DATE: THOSE CLIENTS HAVE STARTED 173 NEW BUSINESSES, SUSTAINED 294 EXISTING BUSINESSES AND CREATED 370 NEW FULL TIME EQUIVALENT JOBS.

    Expenses $863,350 · Grants $29,257

  • CIC HAS TWO CORE FINANCING PROGRAMS INCLUDING A MICROLOAN PROGRAM THAT PROVIDES LOANS UP TO 50,000, A MICRO GRANTS PROGRAM THAT HELPS UNDER- RESOURCED ENTREPRENEURS TEST THEIR PRODUCT OR SERVICES. IN 2023, 62 BUSINESSES RECEIVED 1,506,223 IN LOANS AND 45,916.24 IN MICROGRANTS. CIC'S LIFETIME TOTAL LENDING TO DATE INCLUDES 4.05 MILLION IN LOANS. ADDITIONALLY, CIC PARTNERS WITH LOCAL GOVERNMENTS AND OTHER ENTITIES TO MANAGE GRANT PROGRAMS THAT PROVIDE ACCESS TO CAPITAL TO BUSINESSES IN THE REGION. IN 2023, WE PARTNERED WITH ENTITIES TO PROVIDE CAPITAL TO BUSINESSES THROUGH GRANTS INCLUDING 14 BUSINESSES RECEIVED 172,135 IN GRANTS THROUGH THESE PARTNERSHIPS. CIC PROVIDES LOAN SERVICING TO LOANS NOT ON OUR BALANCE SHEET. AT THE END OF 2023, CIC MANAGED 37 LOANS TOTALLING 946,017 FOR OTHER ORGANIZATIONS. THIS INCLUDES 697,013 IN LOANS FOR PARTNERS WHO PARTICIPATED ON CIC CLIENT LOANS. CIC ALSO PROVIDES LOAN SERVICING TO ANOTHER MISSION DRIVEN LENDER, BRIDGING VIRGINIA BASED OUT OF RICHMOND, VA. CIC LEVERAGES ITS CAPACITY AS LENDER TO SUPPORT BRIDGING VIRGINIA BY MANAGING ITS LOAN PAYMENTS, HELPING BRIDGING VIRGINIA MANAGE 281,825 IN NEW LOANS IN 2023 AND SUPPORTS 249,003 IN OUTSTANDING BALANCES TO TO UNDERO-RESOURCED ENTREPRENEURS IN THE RICHMOND AREA.

    Expenses $383,578 · Grants $173,794

  • THE CVSBDC IS HOUSED AT CIC WITH SUPPORT FROM THE SMALL BUSINESS ADMINISTRATION, STATE AND LOCAL GOVERNMENTS ALONG WITH PRIVATE SUPPORT. IT PROVIDES FREE ONE ON ONE BUSINESS ADVISING AND TRAINING WORKSHOPS. IN 2023, CVSBDC PROVIDED 915 CLIENTS WITH 3151 HOURS OF BUSINESS ADVISING. ADDITIONALLY, 961 INDIVIDUALS PARTICIPATED IN 57 TRAINING EVENTS. CVSBDC CLIENTS CREATED 24 NEW BUSINESSES, ACCESSING 51.37 MILLION IN NEW CAPITAL FORMATION AND CREATED 178 NEW JOBS.

    Expenses $527,533 · Grants $15,000

  • NETWORKING AND ECOSYSTEM BUILDING: BUILDING STRONG ENTREPRENEURIAL NETWORKS IS AN UNDERPINNING OF CIC CULTURE. CIC PARTNERS WITH LOCAL ORGANIZATIONS TO OFFERING NETWORKING EVENTS RANGING FROM MARKET ACCESS OPPORTUNITIES AT BLOCK PARTIES AND COMMUNITY FAIRS TO EDUCATION OPPORTUNITIES THROUGH BUSINESS EXPOS AND PITCH NIGHTS. PARTNERING ORGANIZATIONS INCLUDE: TOM TOM FOUNDERS FESTIVAL, WHOLE FOODS MARKET, CHARLOTTESVILLE BUSINESS INNOVATION COUNCIL, VENTURE CENTRAL, AND THE FOUNTAIN FUND. CIC SECURED FUNDING IN 2023 TO DEVELOP THE REGIONAL ENTREPRENEURSHIP INVESTMENT STRATEGY AND WILL LEAD THAT WORK WITH A PARTNER ORGANIZATION VENTURE CENTRAL.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alex Urpi

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Delores Roberts

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Danielle Hopkins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jason Becton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Natasha Gray

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Shea Graham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jacob D'Aniello

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Molly Fulton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • S Lisa Herndon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kevin Schuyler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Hope Lawrence

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth Willingham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sara Clayborne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Stephen Davis

    PRESIDENT

    Total calculated
    $127,300
    From this org
    $127,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • SEE ATTACHED

    $150,000

  • SEE ATTACHED

    $15,000

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2024
IRS schema version
2023v5.0
Source object
202401369349305725

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.