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Nonprofiteer
← CAPITAL PARTNERS CERTIFIED DEVELOPMENT COMPANY

Form 990 for tax year 2023

Filed by CAPITAL PARTNERS CERTIFIED DEVELOPMENT COMPANY.

Totals

Total revenue
$2,755,181
Total expenses
$2,172,129
Contributions and grants received
$0
Grants paid
$25,900
Program service revenue
$2,700,077
Investment income
$55,104
Other revenue
$0
Total assets, end of year
$2,896,700
Total liabilities, end of year
$1,135,717
Net assets or fund balances, end of year
$1,760,983
Program services expenses (Part IX)
$1,802,107
Management and general expenses
$370,022
Fundraising expenses
$0
Program service expenses (Part III)
$1,802,107

Program services were 83.0% 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.

  • 2a · Program service revenue: Servicing Fee Income

    total $1,544,680 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Processing and Origination Fee Income

    total $758,863 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $396,534 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $55,104 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $25,900 · program services $25,900

  • 5 · Compensation of officers, directors and key employees

    total $1,090,362 · program services $815,664 · management and general $274,698 · fundraising $0

  • 7 · Other salaries and wages

    total $303,381 · program services $303,381 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $75,017 · program services $62,223 · management and general $12,794 · fundraising $0

  • 9 · Other employee benefits

    total $178,446 · program services $158,811 · management and general $19,635 · fundraising $0

  • 10 · Payroll taxes

    total $86,335 · program services $72,309 · management and general $14,026 · fundraising $0

  • 11a · Fees: management

    total $87,542 · program services $84,243 · management and general $3,299 · fundraising $0

  • 11c · Fees: accounting

    total $44,522 · program services $0 · management and general $44,522 · fundraising $0

  • 11g · Fees: other

    total $11,267 · program services $10,219 · management and general $1,048 · fundraising $0

  • 12 · Advertising and promotion

    total $36,076 · program services $36,076 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $25,948 · program services $25,948 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $30,738 · program services $30,738 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $52,256 · program services $52,256 · management and general $0 · fundraising $0

  • 17 · Travel

    total $13,467 · program services $13,467 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $28,567 · program services $28,567 · management and general $0 · fundraising $0

  • 20 · Interest

    total $5 · program services $5 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $6,271 · program services $6,271 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $20,608 · program services $20,608 · management and general $0 · fundraising $0

  • 24a · Other expenses: Software maintenance

    total $20,953 · program services $20,953 · management and general $0 · fundraising $0

  • 24b · Other expenses: Credit Investigation

    total $17,083 · program services $17,083 · management and general $0 · fundraising $0

  • 24c · Other expenses: Recording fees

    total $3,748 · program services $3,748 · management and general $0 · fundraising $0

  • 24d · Other expenses: Dues & Subscriptions

    total $13,637 · program services $13,637 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $197,881 · end of year $296,536

  • 2 · Savings and temporary cash investments

    beginning of year $1,888,625 · end of year $2,231,634

  • 4 · Accounts receivable

    beginning of year $30,000 · end of year $72,101

  • 9 · Prepaid expenses and deferred charges

    beginning of year $46,684 · end of year $32,842

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

    $69,798

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

    $66,409

  • 10c · Land, buildings and equipment, net

    beginning of year $8,127 · end of year $3,389

  • 15 · Other assets

    beginning of year $296,735 · end of year $260,198

  • 17 · Accounts payable and accrued expenses

    beginning of year $254,745 · end of year $272,572

  • 19 · Deferred revenue

    beginning of year $191,568 · end of year $94,629

  • 25 · Other liabilities

    beginning of year $843,809 · end of year $768,516

  • 27 · Net assets without donor restrictions

    beginning of year $1,177,930 · end of year $1,760,983

Mission and programs · 2023

Mission

To further economic development in Georgia

  • Provided US Small Business 504 Debentures to qualifying small businesses in the state of Georgia.

    Expenses $1,802,107 · Grants $25,900 · Revenue $2,700,077

As filed on the 2023 return.

Listed in Part VII

  • Nancy Gault

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Sandy Headley

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Jim Brown

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Shawnte Johnson

    VP,Underwriting

    Total calculated
    $157,726
    From this org
    $121,485
    From related orgs
    $0
    Other
    $36,241
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,160
    Bonus
    $6,325
    Other
    $0
    Deferred
    $8,910
    Nontaxable benefits
    $27,331
    Filer's total
    $157,726

  • Thomas Kimsey

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Patrick Walsh

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Joy Manbeck

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Barbara Wasson

    President

    Total calculated
    $285,634
    From this org
    $252,347
    From related orgs
    $0
    Other
    $33,287
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,640
    Bonus
    $93,707
    Other
    $0
    Deferred
    $13,545
    Nontaxable benefits
    $19,742
    Filer's total
    $285,634

  • Tracy Adams

    Senior VP

    Total calculated
    $190,725
    From this org
    $169,424
    From related orgs
    $0
    Other
    $21,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,442
    Bonus
    $36,982
    Other
    $0
    Deferred
    $10,071
    Nontaxable benefits
    $11,230
    Filer's total
    $190,725

  • Tim Souther

    EVP, SBA Lending

    Total calculated
    $415,024
    From this org
    $374,043
    From related orgs
    $0
    Other
    $40,981
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,039
    Bonus
    $208,004
    Other
    $0
    Deferred
    $13,263
    Nontaxable benefits
    $27,718
    Filer's total
    $415,024

  • Shelia Greene

    VP, Loan Processing

    Total calculated
    $145,127
    From this org
    $110,696
    From related orgs
    $0
    Other
    $34,431
    Hours/week
    40

  • Robert Wood

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Michele Cracraft

    VP, Underwriting

    Total calculated
    $173,451
    From this org
    $135,952
    From related orgs
    $0
    Other
    $37,499
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,977
    Bonus
    $5,975
    Other
    $0
    Deferred
    $10,071
    Nontaxable benefits
    $27,428
    Filer's total
    $173,451

  • LeAnn Massey

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Ben Murray

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Brad Simpson

    Director

    Total calculated
    $0
    Hours/week
    0.5

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
14 June 2024
IRS schema version
2023v5.0
Source object
202441669349300319

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