2023-11-15T16:38:53-06:00 2022-12-31 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2022-01-01 541754009 LOCUS IMPACT FUND LOCU 5402603126 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 CLYDE A CORNETT JR CFO 5402603126 2023-11-15 1 CLYDE CORNETT JR 999009999 0 PATRICK PITTMAN P00587461 5403450936 2023-11-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X CLYDE A CORNETT JR 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 9558219 0 X WWW.VACOMMUNITYCAPITAL.ORG X 1995 VA OUR MISSION IS TO OFFER INNOVATIVE, FLEXIBLE FINANCIAL PRODUCTS DESIGNED TO SUPPORT HOUSING AND COMMUNITY DEVELOPMENT VENTURES, INCREASE JOBS AND BUILD SUSTAINABLE COMMUNITIES. VCC OFFERS LOAN CAPITAL THAT IS BROADER THAN BANK LENDING TO PROJECTS THAT HAVE A POSITIVE IMPACT IN LOW TO MODERATE INCOME COMMUNITIES IN UNDERSERVED GEOGRAPHIES AND MARKETS. 13 11 115 0 0 0 6151687 6626276 1960228 2297394 -20588 2008 1411456 630973 9502783 9556651 1581408 635000 0 0 2896720 2699637 0 0 0 1460944 1763302 5939072 5097939 3563711 4458712 56421694 68117321 41306863 49170441 15114831 18946880 X OUR MISSION IS TO OFFER INNOVATIVE, FLEXIBLE FINANCIAL PRODUCTS DESIGNED TO SUPPORT HOUSING AND COMMUNITY DEVELOPMENT VENTURES, INCREASE JOBS AND BUILD SUSTAINABLE COMMUNITIES. VCC OFFERS LOAN CAPITAL THAT IS BROADER THAN BANK LENDING TO PROJECTS THAT HAVE A POSITIVE IMPACT IN LOW TO MODERATE INCOME COMMUNITIES IN UNDERSERVED GEOGRAPHIES AND MARKETS. 0 0 4100555 635000 2930375 AID COMMUNITY DEVELOPMENT PY PROVIDING LOANS, LOAN GUARANTEES AND OTHER FORMS OF DEBT OR EQUITY FINANCING FOR COMMUNITY AND BUSINESS ORGANIZATIONS, AS WELL AS TO PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO BUSINESS OWNERS AND MANAGERS. 4100555 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 58 0 1 115 1 0 0 0 0 0 0 0 0 0 0 X 13 11 0 0 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X CLYDE A CORNETT JR 5402603126 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 SHERRY MAGILL DIRECTOR 1.00 1.00 X 0 0 0 DIXON HANNA DIRECTOR 1.00 1.00 X 0 0 0 JAMES W HARKNESS JR DIRECTOR 1.00 1.00 X 0 0 0 CHARLIE H MILLS III DIRECTOR 1.00 1.00 X 0 0 0 CATHY DOLAN DIRECTOR 1.00 1.00 X 0 0 0 AMIR KIRKWOOD PRESIDENT & CEO 20.00 20.00 X X 143185 143185 0 SARAH STREMLAU LOCUS PRESIDENT 1.00 39.00 X X 0 237515 0 MARY DWYER PEMBROKE DIRECTOR 1.00 1.00 X 8250 0 0 KIM ARMSTRONG DIRECTOR 1.00 1.00 X 0 0 0 JACKIE PUENTE DIRECTOR 1.00 1.00 X 14700 0 0 FLORENCE KINGSTON DIRECTOR 1.00 1.00 X 0 0 0 ROBERT GILLIAM DIRECTOR 1.00 1.00 X 0 0 0 WILLIAM SHELTON DIRECTOR 1.00 2.00 X 0 0 0 CLYDE CORNETT CFO & TREASURER 24.00 16.00 X 66766 171682 0 DEBORAH MARKLEY SENIOR VICE PRESIDENT 1.00 39.00 X 0 181132 0 TAMMY JACKSON CHIEF HUMAN CAPITAL OFFICE 24.00 16.00 X 60524 128613 0 ADAM NORTHOP SENIOR VICE PRESIDENT 1.00 39.00 X 0 91494 0 PETER TAYLOR CHIEF INFORMATION OFFICER 20.00 20.00 X 64319 136678 0 WILL GROVES II CRO & CIO 24.00 16.00 X 48343 193373 0 ERNEST MADDY SENIOR VICE PRESIDENT 20.00 20.00 X 25974 103900 0 BILL GREENLEAF SENIOR VICE PRESIDENT 20.00 20.00 X 44518 103875 0 CHRIS HAIRSTON-WHITE SENIOR VICE PRESIDENT 20.00 20.00 X 28419 113675 0 JOSEPH BARNES SENIOR VICE PRESIDENT 20.00 20.00 X 26022 104087 0 TRAVIS M GREEN VICE PRESIDENT 0.00 40.00 X 0 110820 0 LINDA BRYDIE VICE PRESIDENT 0.00 40.00 X 0 119883 0 ASHLEY N COLEMAN VICE PRESIDENT 20.00 18.00 X 64128 64128 0 JOSEPH BEEKMAN VICE PRESIDENT 0.00 40.00 X 0 141014 0 CORBIN ANDERSON VICE PRESIDENT 20.00 20.00 X 57390 57390 0 JAMES BAEK EXECUTIVE DIRECTOR 0.00 40.00 X 0 234719 0 MEREDITH SMITH SENIOR VICE PRESIDENT 20.00 18.00 X 26195 104781 0 LISA O'MARA VICE PRESIDENT 0.00 40.00 X 0 107293 0 CAROLINE NOWERY SENIOR VICE PRESIDENT 20.00 18.00 X 79243 79243 0 DAVID NEWSOME VICE PRESIDENT 12.00 28.00 X 19104 93272 0 ALLIE FRIDLEY DIRECTOR OF INTERNAL AUDIT 20.00 18.00 X 33887 72010 0 ELIZABETH BETTLEY SMALL BUSINESS LOAN OFFICER 20.00 20.00 X 21196 84783 0 JESSICA ALLEY DIRECTOR OF INFORMATION TECHNOLOGY 20.00 18.00 X 36862 78332 0 CHRIS SPANOULIS REAL ESTATE LOAN OFFICER 20.00 20.00 X 21578 86312 0 890603 3143189 0 1 0 1 0 0 6626276 6626276 LOAN INTEREST 525990 2294680 2294680 PROGRAM RELATED INVEST 525990 2714 2714 2297394 3576 1568 2008 2008 2008 MISCELLANEOUS REVENUE 525990 627898 627898 PARTICIPATION SERVICIN 525990 3075 3075 630973 9556651 2930375 0 0 X 635000 635000 2271069 1703302 567767 59369 44527 14842 188006 141005 47001 181193 135895 45298 25615 19211 6404 50847 38135 12712 543919 407939 135980 114610 89230 25380 201109 156575 44534 181293 141147 40146 103166 80321 22845 847038 847038 120632 90474 30158 BOARD COSTS 29676 25359 4317 RECOVERY FOR LOAN LOSS -454603 -454603 5097939 4100555 997384 0 -1 5868801 3936443 563334 1576838 45903643 61815544 1186263 664072 539867 522191 2557500 988549 266306 56421694 68117321 629136 514379 7844375 4892530 1847134 0 30566032 43515962 420186 247570 41306863 49170441 X 6482764 8964572 8632067 9982308 15114831 18946880 56421694 68117321 X 4458712 -626663 X X 0 1 X 1 0 X 5719633 4276317 5479880 6151687 6626276 28253793 5719633 4276317 5479880 6151687 6626276 28253793 816924 27436869 28253793 0.97110 0.98240 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 548573 157956 390617 637690 506116 131574 522191 ACCRUED INTEREST PAYABLE 247570 247570 X PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER IRC SECTION 501(C)(3). TAX YEARS 2018 THROUGH 2022 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE ORGANIZATION HAS ANALYZED THE TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN ITS TAX RETURNS AND HAS CONCLUDED IT HAS NO LIABILITY RELATED TO UNCERTAIN TAX POSITIONS. 0 FC PHASE 1 LLC 682 BERKMAR CIRCLE CHARLOTTESVILLE VA 22901 843556413 100000 0 CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING MHV PRESERVATION PARTNERS LP 1101 30TH STEET NW SUITE 100A WASHINGTON DC 20007 842279960 100000 0 CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING POPLAR CREEK 1425 SEYMOUR STREET SOUTH BOSTON VA 24592 833821077 100000 0 CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING COOL LANE APARTMENTS 8002 DISCOVERY DRIVE RICHMOND VA 23229 833720958 100000 0 CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING WINCHESTER FORREST II 23 W BROAD STREET SUITE 100 RICHMOND VA 23220 852992168 100000 0 CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING GRANDE OAK VA LLC 6300 OLD MOORETOWN RD WILLIAMSBURG VA 23188 853196367 50000 0 CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING THE PAKALACHIAN 631 REPASS ST ABINDGON VA 24210 821004584 10000 0 SWVA REGIONAL BRISTOL CASINO PITCH CONTEST VIRGINIA MOUNTAIN VINEYARDS 4204 OLD FINCASTLE RD FINCASTLE VA 25099 831405878 10000 0 SWVA REGIONAL BRISTOL CASINO PITCH CONTEST ANNE VAUG DESIGN 158 PIONEER WAY SUITE 4 FLOYD VA 24091 263168528 10000 0 SWVA REGIONAL BRISTOL CASINO PITCH CONTEST ORANGE BANDANA 446 PEPPERS FERRY RD NW CHRISTIANBURG VA 24073 820913068 10000 0 SWVA REGIONAL BRISTOL CASINO PITCH CONTEST BEAGLE RIDGE HERB FARM 1934 MATNEY FLATS RD WYTHEVILLE VA 24382 454287298 10000 0 SWVA REGIONAL BRISTOL CASINO PITCH CONTEST X X 0 0 0 0 0 0 0 0 0 AMIR KIRKWOOD PRESIDENT & CEO 143185 143185 0 0 0 0 0 0 0 0 143185 143185 0 0 WILL GROVES II CRO & CIO 48343 193373 0 0 0 0 0 0 0 0 48343 193373 0 0 CLYDE CORNETT CFO & TREASURER 66766 171682 0 0 0 0 0 0 0 0 66766 171682 0 0 SARAH STREMLAU LOCUS PRESIDENT 0 237515 0 0 0 0 0 0 0 0 0 237515 0 0 JAMES BAEK EXECUTIVE DIRECTOR 0 234719 0 0 0 0 0 0 0 0 0 234719 0 0 PETER TAYLOR CHIEF INFORMATION OFFICER 64319 136678 0 0 0 0 0 0 0 0 64319 136678 0 0 TAMMY JACKSON CHIEF HUMAN CAPITAL OFFICE 60524 128613 0 0 0 0 0 0 0 0 60524 128613 0 0 DEBORAH MARKLEY SENIOR VICE PRESIDENT 0 181132 0 0 0 0 0 0 0 0 0 181132 0 0 CAROLINE NOWERY SENIOR VICE PRESIDENT 79243 79243 0 0 0 0 0 0 0 0 79243 79243 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE COMPLETED 990 WILL BE PROVIDED TO THE ORGANIZATION PRIOR TO THE FILING DEADLINE. THE RETURN WILL NOT BE PROVIDED TO THE BOARD PRIOR TO SIGNING BUT IT WILL BE REVIEWED BY THE PRESIDENT AND CFO, WHO ARE ENTRUSTED BY THE BOARD FOR THEIR REVIEW, PRIOR TO THE RETURN BEING SIGNED BY THE CFO. FORM 990, PART VI, SECTION B, LINE 12C AT LEAST ANNUALLY, OFFICERS, AND DIRECTORS ARE REQUIRED TO REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY, WHICH CONTAINS A DUTY TO DISCLOSE CLAUSE. THESE ARE REVIEWED BY THE PRESIDENT. ANY ISSUES IDENTIFIED ARE INVESTIGATED AND DISCUSSED WITH THE CFO FOR FINANCIAL REPORTING OR REGULATORY/COMPLIANCE IMPACT. IN THE EVENT OF A POTENTIAL CONFLICT, THAT PERSON WILL RECUSE THEMSELVES FROM ALL DISCUSSION AND/OR VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 MANAGEMENT UTILIZES THE VBA ANNUAL SALARY SURVEY AS A GUIDELINE FOR DETERMINING MARKET FOR BANK EXECUTIVES AND STAFF. MANAGEMENT THEN PASSES THIS INFO UP TO THE HUMAN RESOURCES/COMPENSATION COMMITTEE FOR FURTHER REVIEW AND APPROVAL. ALL DISCUSSIONS ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED ON THE WEBSITE. GOVERNING DOCUMENTS AND CONFLICTS OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 407,939. MANAGEMENT AND GENERAL EXPENSES 135,980. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 543,919. FORM 990, PART XI, LINE 9: CHANGE IN EQUITY FROM UNDISTRIBUTED LOSS OF NON-BANK SUBSIDIARIES -1,263. LOSS ON DISSOLUTION OF SUBSIDIARY -625,400. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR. RIVER CITY REAL ESTATE 1001 LLC 110 PEPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 352448562 FORECLOSED REAL ESTATE HOLDING VA LOCUS IMPACT FUND INC MOUNTAIN REAL ESTATE 2001 LLC 110 PEPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 320380629 FORECLOSED REAL ESTATE HOLDING VA LOCUS BANK INC COMMUNITY INVESTMENT GUARANTEE POOL LLC 7814 CAROUSEL LANE RICHMOND VA 23294 844213292 SUPPORT FOR COMMUNITY INVESTMENTS VA LOCUS IMPACT INVESTING LOCUS IMPACT INVESTING 7814 CAROUSEL LANE RICHMOND VA 23294 263114011 TO EMPOWER PLACE-FOCUSED INVESTMENT VA 501(C)(3) LINE 10 LOCUS 0 LOCUS FOUNDATION 100 WEST FRANKLIN STREET STE 200 RICHMOND VA 23220 814808731 TO SUPPORT AND AID COMMUNITY AND ECONOMIC DEVELOPMENT VA 501(C)(3) LINE 7 LOCUS 0 LOCUS 7814 CAROUSEL LANE RICHMOND VA 23294 863988949 TO SUPPORT AND AID COMMUNITY AND ECONOMIC DEVELOPMENT VA 501(C)(3) LINE 7 N/A 0 LOCUS BANK INC 7814 CAROUSEL LANE RICHMOND VA 23294 260719551 COMMUNITY DEVELOPMENT BANK VA VCC SOCIAL ENTERPRISES C 0 LOCUS CAPITAL INC 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 20473 814812627 INVESTMENT ADVICE VA VCC SOCIAL ENTERPRISES C 0 CCB REAL ESTATE HOLDINGS INC 7814 CAROUSEL LANE RICHMOND VA 23294 383943768 REAL ESTATE HOLDINGS VA VCC BANK C 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 LOCUS BANK INC O 612158 SALARIES EXPENSE LOCUS CAPITAL O 222764 SALARIES EXPENSE LOCUS IMPACT INVESTING O 342180 SALARIES EXPENSE LOCUS IMPACT INVESTING A 16274 SAVINGS INTEREST