2024-05-15T17:28:50-04:00 2023-06-30 561627242 ROMEO WIGGINS & COMPANY LLP 8210 CREEDMOOR RD 202 RALEIGH NC 27613 990 2022-07-01 581903219 CAROLINA SMALL BUSINESS DEVELOPMENT FUND CARO 9198031437 3128 HIGHWOODS BLVD SUITE 170 RALEIGH NC 27604 KEVIN DICK PRESIDENT & CEO 9195301683 2024-05-13 KEVIN DICK 999009999 false J KELLY LANIER P01240701 9198705151 2024-05-13 X 2022 2023-04-26 12:10:37Z KEVIN DICK 3128 HIGHWOODS BLVD SUITE 170 RALEIGH NC 27604 10578366 false X WWW.CAROLINASMALLBUSINESS.ORG X 1990 NC OUR MISSION IS TO FOSTER ECONOMIC DEVELOPMENT IN UNDERSERVED COMMUNITIES BY PROVIDING CAPITAL, BUSINESS SERVICES, AND POLICY RESEARCH TO SUPPORT SMALL BUSINESSES. 16 16 42 0 4106772 7833944 2243745 2667924 10887 72374 55246 -89915 6416650 10484327 29000 2254645 0 2623737 3518210 0 0 3618514 3563523 6271251 9336378 145399 1147949 42816299 34372780 28354532 18763064 14461767 15609716 OUR MISSION IS TO FOSTER ECONOMIC DEVELOPMENT IN UNDERSERVED COMMUNITIES BY PROVIDING CAPITAL, BUSINESS SERVICES, AND POLICY RESEARCH TO SUPPORT SMALL BUSINESSES. false false 7818608 2254645 2667924 CAROLINA SMALL BUSINESS DEVELOPMENT FUND IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). IN 2010, THE ORGANIZATION LAUNCHED ITS SMALL BUSINESS REVOLVING LOAN FUND PROGRAM (SBRLF), TARGETING UNDERSERVED COMMUNITIES AND POPULATIONS THAT FIND IT DIFFICULT TO ACCESS CAPITAL. THE ORGANIZATION ALSO PROVIDES FINANCIAL TRAINING AND TECHNICAL ASSISTANCE TO START-UPS AND EXISTING BUSINESSES AND LENDING SERVICES TO COMMUNITY-BASED ORGANIZATIONS. 7818608 true true false true false false false false true false true false true false true true true false false false false false false false true false false true false true false false false false false false false false false false false false false true false false false true 640 0 true 42 true false false false false false false false false false false false false false false X 16 16 false false false false false false false true true false false true true true true true true true true false X X KEVIN DICK 9198031437 3128 HIGHWOODS BLVD SUITE 170 RALEIGH NC 27604 KEVIN DICK PRESIDENT & 40.00 X 205081 0 22079 MARK ROYSTER CHIEF CREDIT 40.00 X 133812 0 20015 JOHN SABISTON CFO 40.00 X 121526 0 22149 JAMIE MCCALL VP POLICY & 40.00 X 118445 0 16801 LORI DIAZ VP BUSINESS 40.00 X 113358 0 16419 ELLYSA SMITH HUMAN RESOUR 40.00 X 100938 0 15772 REGINOLD JONES BUSINESS SOL 40.00 X 101516 0 6179 TED ARCHER BOARD VICE C 1.00 X X 0 0 0 RODRICK BANKS DIRECTOR 1.00 X 0 0 0 DR PAULETTE DILLARD BOARD CHAIR 1.00 X X 0 0 0 STEPHEN DILLE DIRECTOR 1.00 X 0 0 0 DR JOSEPH FOX DIRECTOR 1.00 X 0 0 0 MERRILL FLOOD DIRECTOR 1.00 X 0 0 0 LARRY GARCIA DIRECTOR 1.00 X 0 0 0 HUNTLEY GARRIOTT BOARD TREASU 1.00 X X 0 0 0 JEFFREY HASTINGS DIRECTOR 1.00 X 0 0 0 TIFFANY HALL MCNEILL BOARD SECRET 1.00 X X 0 0 0 JEFF MARSHALL DIRECTOR 1.00 X 0 0 0 GRACE NYSTRUM DIRECTOR 1.00 X 0 0 0 FRANK POLLOCK DIRECTOR 1.00 X 0 0 0 LESLIE PERSON DIRECTOR 1.00 X 0 0 0 BOBBY ROBINSON DIRECTOR 1.00 X 0 0 0 PILAR ROCHA-GOLDBERG DIRECTOR 1.00 X 0 0 0 NANCY PATRICK STROUD FORMER BOARD 1.00 X 0 0 0 AARON THOMAS DIRECTOR 1.00 X 0 0 0 894676 119414 7 false true false VANN ATTORNEYS 1720 HILLSBOROUGH ST RALEIGH NC 27605 LEGAL SERVICES 102576 1 107980 7365782 360182 3980 7833944 BUSINESS LOAN INTEREST 900099 1210929 1210929 ADMINISTRATIVE FEES 900099 1003189 1003189 LOAN ORIGINATION/CLOSING FEES 900099 226286 226286 REPAYMENT OF BAD DEBT 900099 216804 216804 MORTGAGE INTEREST 900099 10716 10716 2667924 72374 72374 3872 107980 94039 -90167 MISCELLANEOUS 900099 252 252 252 10484327 2667924 72626 2254645 2254645 707267 485834 221433 2169420 1490210 679210 121365 83368 37997 285748 196285 89463 234410 161020 73390 131238 102366 28872 112832 88009 24823 164540 164540 664595 482185 182410 62583 50066 12517 100099 78937 21162 155034 128678 26356 201587 157238 44349 148967 116194 32773 14335 11163 3172 462876 462876 2303 1796 507 56292 43908 12384 PROVISION FOR LOAN LOSS 727722 727722 LOANS DEEMED UNCOLLECTIBL 300000 300000 FORGIVENESS OF LOAN REC 100000 100000 SUBSCRIPTION AND DUES 55368 43187 12181 103152 88381 14771 9336378 7818608 1517770 0 9641465 4215345 1033300 1044908 2091149 550829 2257397 1965940 87330 72518 1177289 437402 2302 739887 27703356 25783353 42816299 34372780 185926 267783 377046 226317 9259045 782137 18532515 16735476 751351 28354532 18763064 X 12120465 14252088 2341302 1357628 14461767 15609716 42816299 34372780 X 1147949 X false true X true true true X 6535770 3005063 5043896 4106772 7833944 26525445 6535770 3005063 5043896 4106772 7833944 26525445 2915777 23609668 116292 40509 11979 10887 72374 252041 36200 94188 2538 70 252 133248 26910734 12430847 0.87730 0.81760 X PART II, LINE 10 MISCELLANEOUS INCOME 133,248 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 164540 false false 164540 false SCHEDULE C, PART II-B, LINE 1 PAID CONSULTANTS FOR LOBBYING ACTIVITIES. false true X 296543 296543 880746 140859 739887 739887 LOANS RECEIVABLE 17974188 C COMMITTED LOAN SUPPORT FUNDS 9190529 C OTHER COMMITTED SUPPORT FUNDS 118636 C LOAN LOSS RESERVE -1500000 C 25783353 OPERATING LEASE LIABILITY 751351 751351 X 10591816 13450 94039 107489 10484327 10484327 9443867 13450 94039 107489 9336378 9336378 SCHEDULE D, PAGE 2, PART IV, LINE 2B FUNDS HELD IN AGENCY: THE ORGANIZATION ADMINISTERS CERTAIN LOAN AND GRANT PROGRAMS ON BEHALF OF CERTAIN MUNICIPALITIES AND A NONPROFIT ORGANIZATION. ADVANCES OF LOAN OR GRANT FUNDS ARE RECORDED AS A LIABILITY UNTIL DISBURSED. SCHEDULE D, PAGE 3, PART X ASC 740: THE ORGANIZATION HAD NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, AND MANAGEMENT IS AWARE OF NO UNCERTAIN TAX POSITIONS. 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25200 8862 13217 227160 MARK ROYSTER CHIEF CREDIT OFFICER 133812 6691 13324 153827 FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS REVIEWED BY THE CEO, CFO AND THE FINANCE COMMITTEE CHAIR AND IS PROVIDED TO FINANCE COMMITTEE MEMBERS FOR REVIEW PRIOR TO ITS FILING. FORM 990, PAGE 6, PART VI, LINE 12C BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST. THIS POLICY IS MONITORED ON AN ANNUAL BASIS AND DOCUMENTED IN THE MINUTES. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION IS REVIEWED BY THE EXECUTIVE COMMITTEE AND COMPARABLES ARE CONSIDERED AMONG LIKE AGENCIES AND OTHER NONPROFIT ENTITIES. EACH YEAR A PERFORMANCE APPRAISAL IS DONE AND ANY INCREASE IN SALARY IS RECOMMENDED BY THE EXECUTIVE COMMITTEE AND APPROVED BY THE BOARD. FORM 990, PAGE 6, PART VI, LINE 15B EACH YEAR, A PERFORMANCE APPRAISAL IS DONE AND ANY INCREASE IN SALARY IS RECOMMENDED BY THE PRESIDENT/CEO AND FINANCE COMMITTEE, AND APPROVED BY THE BOARD. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST TO THE ORGANIZATION'S OFFICE. 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