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Nonprofiteer
← CAPITAL PARTNERS CERTIFIED DEVELOPMENT COMPANY

Form 990 for tax year 2024

Filed by CAPITAL PARTNERS CERTIFIED DEVELOPMENT COMPANY.

Totals

Total revenue
$3,000,422
Total expenses
$2,430,736
Contributions and grants received
$0
Grants paid
$30,750
Program service revenue
$2,905,335
Investment income
$95,087
Other revenue
$0
Total assets, end of year
$3,567,316
Total liabilities, end of year
$1,236,647
Net assets or fund balances, end of year
$2,330,669
Program services expenses (Part IX)
$2,021,430
Management and general expenses
$409,306
Fundraising expenses
$0
Program service expenses (Part III)
$2,021,430

Program services were 83.2% 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 $1,720,216 · unrelated business $0 · excluded $0

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

    total $765,780 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $419,339 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $95,087 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,750 · program services $30,750

  • 5 · Compensation of officers, directors and key employees

    total $1,126,448 · program services $822,118 · management and general $304,330 · fundraising $0

  • 7 · Other salaries and wages

    total $353,785 · program services $353,785 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $53,036 · program services $43,381 · management and general $9,655 · fundraising $0

  • 9 · Other employee benefits

    total $257,076 · program services $226,217 · management and general $30,859 · fundraising $0

  • 10 · Payroll taxes

    total $92,164 · program services $76,288 · management and general $15,876 · fundraising $0

  • 11a · Fees: management

    total $134,956 · program services $132,507 · management and general $2,449 · fundraising $0

  • 11c · Fees: accounting

    total $44,642 · program services $0 · management and general $44,642 · fundraising $0

  • 11g · Fees: other

    total $14,669 · program services $13,174 · management and general $1,495 · fundraising $0

  • 12 · Advertising and promotion

    total $43,696 · program services $43,696 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $31,758 · program services $31,758 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $31,204 · program services $31,204 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $51,855 · program services $51,855 · management and general $0 · fundraising $0

  • 17 · Travel

    total $13,365 · program services $13,365 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $40,560 · program services $40,560 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $4,522 · program services $4,522 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $21,987 · program services $21,987 · management and general $0 · fundraising $0

  • 24a · Other expenses: Software maintenance

    total $45,289 · program services $45,289 · management and general $0 · fundraising $0

  • 24b · Other expenses: Credit Investigation

    total $20,638 · program services $20,638 · management and general $0 · fundraising $0

  • 24c · Other expenses: Recording fees

    total $3,529 · program services $3,529 · management and general $0 · fundraising $0

  • 24d · Other expenses: Dues & Subscriptions

    total $14,807 · program services $14,807 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $296,536 · end of year $193,852

  • 2 · Savings and temporary cash investments

    beginning of year $2,231,634 · end of year $3,049,805

  • 4 · Accounts receivable

    beginning of year $72,101 · end of year $74,013

  • 9 · Prepaid expenses and deferred charges

    beginning of year $32,842 · end of year $22,390

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

    $70,775

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

    $65,833

  • 10c · Land, buildings and equipment, net

    beginning of year $3,389 · end of year $4,942

  • 15 · Other assets

    beginning of year $260,198 · end of year $222,314

  • 17 · Accounts payable and accrued expenses

    beginning of year $272,572 · end of year $340,499

  • 19 · Deferred revenue

    beginning of year $94,629 · end of year $53,043

  • 25 · Other liabilities

    beginning of year $768,516 · end of year $843,105

  • 27 · Net assets without donor restrictions

    beginning of year $1,760,983 · end of year $2,330,669

Mission and programs · 2024

Mission

To further economic development in Georgia

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

    Expenses $2,021,430 · Grants $30,750 · Revenue $2,905,335

As filed on the 2024 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
    $170,086
    From this org
    $127,145
    From related orgs
    $0
    Other
    $42,941
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,995
    Bonus
    $6,150
    Other
    $0
    Deferred
    $9,356
    Nontaxable benefits
    $33,585
    Filer's total
    $170,086

  • Thomas Kimsey

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Patrick Walsh

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Barbara Wasson

    President

    Total calculated
    $297,433
    From this org
    $259,919
    From related orgs
    $0
    Other
    $37,514
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,040
    Bonus
    $76,879
    Other
    $0
    Deferred
    $13,875
    Nontaxable benefits
    $23,639
    Filer's total
    $297,433

  • Tracy Adams

    Senior VP

    Total calculated
    $196,445
    From this org
    $172,783
    From related orgs
    $0
    Other
    $23,662
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,352
    Bonus
    $34,321
    Other
    $0
    Deferred
    $10,350
    Nontaxable benefits
    $13,312
    Filer's total
    $227,335

  • Tim Souther

    EVP, SBA Lending

    Total calculated
    $440,602
    From this org
    $392,996
    From related orgs
    $0
    Other
    $47,606
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,757
    Bonus
    $216,239
    Other
    $0
    Deferred
    $13,375
    Nontaxable benefits
    $34,232
    Filer's total
    $440,603

  • Shelia Greene

    VP, Loan Processing

    Total calculated
    $152,476
    From this org
    $111,604
    From related orgs
    $0
    Other
    $40,872
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $102,404
    Bonus
    $9,200
    Other
    $0
    Deferred
    $7,676
    Nontaxable benefits
    $33,196
    Filer's total
    $152,476

  • Michele Cracraft

    VP, Underwriting

    Total calculated
    $185,883
    From this org
    $141,863
    From related orgs
    $0
    Other
    $44,020
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,663
    Bonus
    $6,200
    Other
    $0
    Deferred
    $10,374
    Nontaxable benefits
    $33,647
    Filer's total
    $185,884

  • 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
2024
Filed
14 April 2025
IRS schema version
2024v5.2
Source object
202511789349301401

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