Totals
- Total revenue
- $3,154,236
- Total expenses
- $759,769
- Contributions and grants received
- $3,137,500
- Grants paid
- $10,328
- Program service revenue
- $16,736
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $5,820,535
- Total liabilities, end of year
- $710,417
- Net assets or fund balances, end of year
- $5,110,118
- Program services expenses (Part IX)
- $426,020
- Management and general expenses
- $333,749
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $426,020
Program services were 56.1% 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.
-
1f · All other contributions, gifts and grants
$3,137,500
-
2a · Program service revenue: Loan Interest
total $16,536 · related or exempt $16,536
-
2b · Program service revenue: Other Income
total $200 · related or exempt $200
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $10,328 · program services $10,328
-
5 · Compensation of officers, directors and key employees
total $146,982 · program services $103,883 · management and general $43,099
-
7 · Other salaries and wages
total $187,963 · program services $169,492 · management and general $18,471
-
9 · Other employee benefits
total $21,272 · program services $17,362 · management and general $3,910
-
10 · Payroll taxes
total $25,308 · program services $20,656 · management and general $4,652
-
11c · Fees: accounting
total $16,950 · management and general $16,950
-
11g · Fees: other
total $157,548 · program services $29,482 · management and general $128,066
-
12 · Advertising and promotion
total $15,307 · management and general $15,307
-
13 · Office expenses
total $55,547 · program services $142 · management and general $55,405
-
14 · Information technology
total $4,094 · program services $3,752 · management and general $342
-
16 · Occupancy
total $23,340 · program services $19,086 · management and general $4,254
-
17 · Travel
total $9,607 · program services $9,607
-
19 · Conferences, conventions and meetings
total $5,836 · management and general $5,836
-
20 · Interest
total $4,876 · management and general $4,876
-
22 · Depreciation, depletion and amortization
total $2,648 · program services $2,165 · management and general $483
-
23 · Insurance
total $79 · program services $65 · management and general $14
-
24a · Other expenses: Loan Loss Adjustment
total $40,000 · program services $40,000
-
24b · Other expenses: Miscellaneous
total $8,009 · management and general $8,009
-
24c · Other expenses: Registration
total $7,346 · management and general $7,346
-
24d · Other expenses: Rental & Maintenance
total $5,749 · management and general $5,749
-
24e · All other expenses
total $10,980 · management and general $10,980
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,161,083 · end of year $1,457,605
-
2 · Savings and temporary cash investments
beginning of year $104,236 · end of year $104,247
-
3 · Pledges and grants receivable
beginning of year $1,185,000 · end of year $3,240,000
-
4 · Accounts receivable
beginning of year $26,901 · end of year $26,901
-
7 · Other notes and loans receivable
beginning of year $1,144,528 · end of year $985,016
-
9 · Prepaid expenses and deferred charges
beginning of year $1,399 · end of year $1,399
-
10a · Land, buildings and equipment: cost or other basis
$17,290
-
10b · Land, buildings and equipment: accumulated depreciation
$12,319
-
10c · Land, buildings and equipment, net
beginning of year $2,839 · end of year $4,971
-
15 · Other assets
beginning of year $396 · end of year $396
-
17 · Accounts payable and accrued expenses
beginning of year $860,732 · end of year $710,417
-
27 · Net assets without donor restrictions
beginning of year $1,074,928 · end of year $3,802,858
-
28 · Net assets with donor restrictions
beginning of year $1,690,722 · end of year $1,307,260
Mission and programs · 2022
Mission
TO GENERATE ECONOMIC GROWTH, ENCOURAGE SMALL BUSINESS DEVELOPMENT, CREATE JOBS, AND REVITALIZE NEIGHBORHOODS BY PROVIDING LOANS AND FINANCIAL SERVICES TO UNDERSERVED BUSINESSES
-
Piedmont Business Capital ("PBC") has many services under its main lending program. PBC provided loans to Minority and Women owned businesses throughout the Piedmont region with the majority of loans received by borrowers living in Guilford and Forsythe counties of North Carolina. PBC issued 5 loans to businesses in 2022. In addition to business lending, PBC proviced technical assistance to members of the community, who may or may not be borrowers. Our assistance programs provide guidance to business owners to improve operation of their business. 5 businesses received technical assistance during 2022.
Expenses $426,020 · Grants $10,328 · Revenue $16,736
As filed on the 2022 return.
Listed in Part VII
-
Karl Robinson
Chairman
- Total calculated
- $0
- Hours/week
- 4
-
Scott Baker
Vice Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Eresterine Guidry
Secretary
- Total calculated
- $0
- Hours/week
- 3
-
Melanie Tuttle
Director
- Total calculated
- $0
- Hours/week
- 2
-
Michael Schiftan
Director
- Total calculated
- $0
- Hours/week
- 2
-
Kim Cameron
Director
- Total calculated
- $0
- Hours/week
- 4
-
Lora Cubbage
Director
- Total calculated
- $0
- Hours/week
- 2
-
Rudolph H Clark
Treasurer
- Total calculated
- $0
- Hours/week
- 4
-
George Jones Jr
Executive Director
- Total calculated
- $108,925
- From this org
- $97,580
- From related orgs
- $0
- Other
- $11,345
- 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
-
Guilford Merchants Association
$7,357
local area loans
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
Greensboro Area Chanber of Commerce
501(c)(6) · BUSINESS DEVELOPMENT · NC
Directly controlled by No
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349307330
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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