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Nonprofiteer
← CAPITAL PARTNERS CERTIFIED DEVELOPMENT COMPANY

Form 990 for tax year 2022

Filed by CAPITAL PARTNERS CERTIFIED DEVELOPMENT COMPANY.

Totals

Total revenue
$2,426,858
Total expenses
$2,053,950
Contributions and grants received
$0
Grants paid
$20,600
Program service revenue
$2,421,348
Investment income
$5,510
Other revenue
$0
Total assets, end of year
$2,468,052
Total liabilities, end of year
$1,290,122
Net assets or fund balances, end of year
$1,177,930
Program services expenses (Part IX)
$1,674,110
Management and general expenses
$379,840
Fundraising expenses
$0
Program service expenses (Part III)
$1,674,110

Program services were 81.5% 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 $1,388,176 · unrelated business $0 · excluded $0

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

    total $880,293 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $152,879 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $5,510 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,600 · program services $20,600

  • 5 · Compensation of officers, directors and key employees

    total $1,097,370 · program services $813,726 · management and general $283,644 · fundraising $0

  • 7 · Other salaries and wages

    total $204,400 · program services $204,400 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $47,206 · program services $38,131 · management and general $9,075 · fundraising $0

  • 9 · Other employee benefits

    total $188,547 · program services $160,908 · management and general $27,639 · fundraising $0

  • 10 · Payroll taxes

    total $82,316 · program services $67,434 · management and general $14,882 · fundraising $0

  • 11a · Fees: management

    total $109,290 · program services $105,972 · management and general $3,318 · fundraising $0

  • 11b · Fees: legal

    total $3,994 · program services $3,994 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $41,282 · program services $0 · management and general $41,282 · fundraising $0

  • 11g · Fees: other

    total $8,720 · program services $8,720 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $20,423 · program services $20,423 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $46,804 · program services $46,804 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $48,306 · program services $48,306 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $30,914 · program services $30,914 · management and general $0 · fundraising $0

  • 17 · Travel

    total $15,983 · program services $15,983 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $13,017 · program services $13,017 · management and general $0 · fundraising $0

  • 20 · Interest

    total $471 · program services $471 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $7,317 · program services $7,317 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $17,606 · program services $17,606 · management and general $0 · fundraising $0

  • 24a · Other expenses: Software maintenance

    total $18,687 · program services $18,687 · management and general $0 · fundraising $0

  • 24b · Other expenses: Credit Investigation

    total $8,657 · program services $8,657 · management and general $0 · fundraising $0

  • 24c · Other expenses: Recording fees

    total $9,039 · program services $9,039 · management and general $0 · fundraising $0

  • 24d · Other expenses: Dues & Subscriptions

    total $13,001 · program services $13,001 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $274,462 · end of year $197,881

  • 2 · Savings and temporary cash investments

    beginning of year $1,400,115 · end of year $1,888,625

  • 4 · Accounts receivable

    end of year $30,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,630 · end of year $46,684

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

    $73,566

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

    $65,439

  • 10c · Land, buildings and equipment, net

    beginning of year $3,448 · end of year $8,127

  • 15 · Other assets

    beginning of year $5,910 · end of year $296,735

  • 17 · Accounts payable and accrued expenses

    beginning of year $225,390 · end of year $254,745

  • 19 · Deferred revenue

    beginning of year $194,795 · end of year $191,568

  • 25 · Other liabilities

    beginning of year $480,358 · end of year $843,809

  • 27 · Net assets without donor restrictions

    beginning of year $805,022 · end of year $1,177,930

Mission and programs · 2022

Mission

To further economic development in Georgia

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

    Expenses $1,674,110 · Grants $20,600 · Revenue $2,421,348

As filed on the 2022 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
    $141,980
    From this org
    $110,406
    From related orgs
    $0
    Other
    $31,574
    Hours/week
    40

  • 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
    $292,778
    From this org
    $256,944
    From related orgs
    $0
    Other
    $35,834
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,023
    Bonus
    $93,921
    Other
    $0
    Deferred
    $8,600
    Nontaxable benefits
    $27,234
    Filer's total
    $292,778

  • Tracy Adams

    Senior VP

    Total calculated
    $168,963
    From this org
    $151,951
    From related orgs
    $0
    Other
    $17,012
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,201
    Bonus
    $31,750
    Other
    $0
    Deferred
    $6,275
    Nontaxable benefits
    $10,737
    Filer's total
    $168,963

  • Tim Souther

    EVP, SBA Lending

    Total calculated
    $354,368
    From this org
    $318,504
    From related orgs
    $0
    Other
    $35,864
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,584
    Bonus
    $170,920
    Other
    $0
    Deferred
    $9,000
    Nontaxable benefits
    $26,864
    Filer's total
    $354,368

  • Shelia Greene

    VP, Loan Processing

    Total calculated
    $136,403
    From this org
    $105,784
    From related orgs
    $0
    Other
    $30,619
    Hours/week
    40

  • Robert Wood

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Michele Cracraft

    VP, Underwriting

    Total calculated
    $165,344
    From this org
    $132,657
    From related orgs
    $0
    Other
    $32,687
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,257
    Bonus
    $7,400
    Other
    $0
    Deferred
    $6,275
    Nontaxable benefits
    $26,412
    Filer's total
    $165,344

  • 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
2 May 2023
IRS schema version
2022v5.0
Source object
202311789349301441

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