Totals
- Total revenue
- $446,116
- Total expenses
- $1,042,664
- Contributions and grants received
- $316,750
- Grants paid
- $0
- Program service revenue
- $563
- Investment income
- $128,803
- Other revenue
- $0
- Total assets, end of year
- $2,776,686
- Total liabilities, end of year
- $450,557
- Net assets or fund balances, end of year
- $2,326,129
- Program services expenses (Part IX)
- $30,353
- Management and general expenses
- $1,012,311
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $30,353
Program services were 2.9% 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)
$316,750
-
2a · Program service revenue: Other Income
total $563 · related or exempt $563
-
3 · Investment income
total $128,803 · related or exempt $128,803
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $321,152 · management and general $321,152
-
8 · Pension plan contributions
total $60,606 · management and general $60,606
-
9 · Other employee benefits
total $29,490 · management and general $29,490
-
10 · Payroll taxes
total $28,215 · management and general $28,215
-
16 · Occupancy
total $20,330 · program services $18,297 · management and general $2,033
-
17 · Travel
total $13,342 · management and general $13,342
-
20 · Interest
total $3,000 · management and general $3,000
-
22 · Depreciation, depletion and amortization
total $1,663 · program services $1,496 · management and general $167
-
23 · Insurance
total $688 · management and general $688
-
24a · Other expenses: Telephone
total $4,457 · program services $4,011 · management and general $446
-
24b · Other expenses: Supplies
total $95,304 · management and general $95,304
-
24c · Other expenses: Contract Services
total $20,973 · management and general $20,973
-
24d · Other expenses: Dues & Subscriptions
total $6,417 · management and general $6,417
-
24e · All other expenses
total $437,027 · program services $6,549 · management and general $430,478
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,186,022 · end of year $2,006,943
-
3 · Pledges and grants receivable
beginning of year $1,535,000
-
4 · Accounts receivable
beginning of year $26,901
-
7 · Other notes and loans receivable
beginning of year $711,945 · end of year $763,416
-
9 · Prepaid expenses and deferred charges
beginning of year $1,399
-
10a · Land, buildings and equipment: cost or other basis
$18,894
-
10b · Land, buildings and equipment: accumulated depreciation
$14,713
-
10c · Land, buildings and equipment, net
beginning of year $5,844 · end of year $4,181
-
15 · Other assets
beginning of year $2,146 · end of year $2,146
-
17 · Accounts payable and accrued expenses
beginning of year $263,828 · end of year $3,976
-
18 · Grants payable
end of year $446,581
-
27 · Net assets without donor restrictions
beginning of year $1,765,762 · end of year $2,326,129
-
28 · Net assets with donor restrictions
beginning of year $2,439,667
Mission and programs · 2024
Mission
To generate economic growth, encourage small business development, create jobs, and revitalize neighborhoods by providing loans and financial services to underserved business
-
Piedmont Business Capital PBC has many services under its main lending program. PBC provided loans to minority and women owned business throughout the Piedmont region with the mayority of loans received by borrowers living in Guilford and Forsyth counties in North Carolina. PBC issued several loans to business in 2024. In addition to business lending, PBC provided technical assistance to members of the community, who may or may not be borrowers. PBC assistance programs provide guidance to business owners to improve operations of theirs business.
Expenses $30,353
As filed on the 2024 return.
Listed in Part VII
-
Michael McKinney
Executive Director CEO
- Total calculated
- $132,440
- From this org
- $132,440
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Karl Robinson
Chairman
- Total calculated
- $0
- Hours/week
- 0
-
Erestine Guidry
Vice Chairman
- Total calculated
- $0
- Hours/week
- 0
-
Reginald McCaskill
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Taiwo Jaiyeoba
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Cathy Knowles
Secretary
- Total calculated
- $0
- Hours/week
- 0
-
Carlvena Foster
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Jose Sandoval
Treasurer
- Total calculated
- $0
- Hours/week
- 0
-
Mitch Gibson
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
David Lane
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Larry Davis
Board Member
- Total calculated
- $0
- Hours/week
- 0
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
No itemized grants to organizations on this return.
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 Chamber of Commerce
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 12 May 2025
- IRS schema version
- 2024v5.2
- Source object
- 202523519349301612
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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