2025-11-12T13:15:50-06:00 2024-12-31 760488832 McConnell & Jones LLP 6114 Fayetteville Road Suite 101 Durham NC 27713 990 2024-01-01 562142717 INSTITUTE CAPITAL INC INST 9199568889 PO Box 1331 Durham NC 27702 KEVIN J PRICE PRESIDENT/CEO 9199568889 2025-11-12 1 1 Kenneth Gibbs P00238164 9195440555 2025-11-12 2024 2025-03-06 01:10:19Z KEVIN J PRICE PO BOX 1331 DURHAM NC 27702 3302522 0 X THEINSTITUTENC.ORG/ICAP X 1999 NC INSTITUTE CAPITAL, INC. IS A NOT-FOR-PROFIT ORGANIZATION WHOSE PURPOSE IS TO DEVELOP AND/OR PRESERVE AFFORDABLE HOUSING, ENCOURAGE AND STIMULATE COMMUNITY AND ECONOMIC DEVELOPMENT, AND EXPAND ECONOMIC OPPORTUNITIES AND PROVIDE FINANCING FOR COMMUNITY DEVELOPMENT ACTIVITIES. INSTITUTE CAPITAL INC. IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY AND IS SUPPORTED PRIMARILY BY GOVERNMENT GRANTS AND INCOME FROM LOANS. THE ORGANIZATION'S INVESTMENT AREA INCLUDES NORTH CAROLINA, SOUTH CAROLINA, VIRGINIA, WEST VIRGINIA, KENTUCKY, AND THE DC METRO AREA. 8 8 0 0 0 0 4845430 924300 1345007 2375137 2197 3085 1200 0 6193834 3302522 36000 56250 0 0 792010 971723 0 0 19467 2757424 1461101 3585434 2489074 2608400 813448 31611129 41335812 23680893 32592128 7930236 8743684 X INSTITUTE CAPITAL, INC. IS A NOT-FOR-PROFIT ORGANIZATION WHOSE PURPOSE IS TO DEVELOP AND/OR PRESERVE AFFORDABLE HOUSING, ENCOURAGE AND STIMULATE COMMUNITY AND ECONOMIC DEVELOPMENT, AND EXPAND ECONOMIC OPPORTUNITIES AND PROVIDE FINANCING FOR COMMUNITY DEVELOPMENT. INSTITUTE CAPITAL INC. IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY AND IS SUPPORTED PRIMARILY BY GOVERNMENT GRANTS AND INCOME FROM LOANS. THE ORGANIZATION'S INVESTMENT AREA INCLUDES NORTH CAROLINA, SOUTH CAROLINA, VIRGINIA, WEST VIRGINIA, KENTUCKY, AND THE DC METRO AREA. 0 0 2026764 56250 2375137 A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY. THIS STATE WIDE PUBLIC-PRIVATE PARTNERSHIP PROVIDES LEADERSHIP AND CAPITAL INVESTMENTS TO ENCOURAGE AND STIMULATE COMMUNITY DEVELOPMENT, EXPAND ECONOMIC OPPORTUNITIES, AND PROVIDE FINANCING FOR COMMUNITY AND ECONOMIC DEVELOPMENT ACTIVITIES. 2026764 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 7 0 1 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X ANGELA POOLE 9199568889 PO BOX 1331 DURHAM NC 27702 KEVIN J PRICE PRESIDENT/CEO 20.00 20.00 X X 92295 92295 15390 LISA JACKSON BOARD MEMBER 1.00 X 0 0 0 LEWIS H MYERS CHAIRMAN 1.00 X X 0 0 0 SUZANNE MALONE TREASURER 1.00 X X 0 0 0 EVAN SITTON BOARD MEMBER 1.00 X 0 0 0 TYRONE BAINES PHD SECRETARY 1.00 X X 0 0 0 MICHAEL SUGGS VICE CHAIR 1.00 X X 0 0 0 THURMAN SMITH BOARD MEMBER 1.00 X 0 0 0 ROBERTA MCCULLOUGH SENIOR VP OPERATIONS 40.00 X 0 109564 21795 ANGELA POOLE V.P. OF FINANCE 20.00 20.00 X 0 121431 22978 92295 323290 60163 0 0 1 0 0 924300 924300 Income from loans 2375137 2375137 2375137 3085 3085 3302522 2375137 0 3085 56250 56250 92294 83065 9229 726994 437558 286755 2681 14265 9065 4993 207 77663 49351 27182 1130 60507 38450 21178 879 41844 40887 957 2800 2736 64 162343 122310 35233 4800 4211 2676 1535 18126 11518 6608 43772 27815 15416 541 836780 836780 Subscription and dues 214648 213648 1000 Other expenses 93015 59009 34006 Bank fees 24190 23336 854 Property tax 19372 12310 7062 2489074 2026764 442843 19467 10214508 15784861 625290 627225 1045010 1801719 18467102 21662491 681444 681444 681444 577775 778072 31611129 41335812 478858 614919 5352427 5039511 15095000 24746550 2754608 2191148 23680893 32592128 X 4766186 7250657 3164050 1493027 7930236 8743684 31611129 41335812 813448 0 X X 0 1 X 1 1 1 X 583333 1305420 1370388 4845430 924300 9028871 583333 1305420 1370388 4845430 924300 9028871 975680 8053191 667 227 835 2197 3085 7011 1200 9227 8681 1200 20308 9056190 0.88920 0.95820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2489074 2489074 274454 68614 0 0 204157 279333 329272 274454 1087216 1630824 51039 69833 82318 68614 271804 407706 681444 681444 681444 Neighborhood Stabilization Program 2191148 2191148 X 2582018 0 2582018 720504 720504 3302522 1768570 -720504 -720504 2489074 0 2489074 Part X, Line 2: ASC 740: INSTITUTE CAPITAL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE AND THE APPLICABLE STATE LAW, EXCEPT ON INCOME, IF ANY, DERIVED FROM UNRELATED BUSINESS ACTIVITIES. THE ORGANIZATION HAD NO UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2024, AND MANAGEMENT IS AWARE OF NO UNCERTAIN TAX POSITIONS. Part XI, Line 4b - Other Adjustments: Provisions for Gain on Loans Part XII, Line 2d - Other Adjustments: Provision for Gain on Loans 0 Part I, Line 2: THE ORGANIZATION APPROVES THE GRANT AMOUNTS PROVIDED TO THOSE PROGRAM SERVICE BENEFICIARIES WHO MEET ESTABLISHED CRITERIA. THE ORGANIZATION HAS CONTROLS IN PLACE TO VERIFY AND MONITOR EACH RECIPENTS'S QUALIFICATIONS. PART IV - ADDITIONAL INFORMATION GRANT EXPENSES RELATE TO AMOUNTS PROVIDED TO PROGRAM SERVICE BENEFICIARIES IN CONJUNCTION WITH THE ASSISTANCE THE ORGANIZATION PROVIDES FOR DISASTER RECOVERY AND SMALL BUSINESS ASSISTANCE X X X X 0 0 0 0 0 0 0 0 0 KEVIN J PRICE PRESIDENT/CEO 92295 92295 0 0 0 0 5764 0 9626 0 107685 92295 0 0 SELF-HELP VENTURES FUND INSTITUTE BOD 2000000 LOAN RECEIVABLE 0 SCHEDULE L, PART V - ADDITIONAL INFORMATION THE ORGANIZATION DURING ITS NORMAL COURSE OF OPERATION ENTERS INTO NOTEAGREEMENTS WITH ORGANIZATIONS ASSOCIATED WITH CERTAIN BOARD MEMBERS. Form 990, Part VI, Section B, line 11b ORGANIZATION'S PROCESS TO REVIEW FORM 990 THE AUDIT COMMITTEE AND EXECUTIVE COMMITTEE MEET JOINTLY TO REVIEW THE FORM 990 PRIOR TO FILING. Form 990, Part VI, Section B, line 12c ENFORCEMENT OF CONFLICTS POLICY THE BOARD REVIEWS THE POLICY AND ADHERENCE ON A REGULAR BASIS AND HAS A REMINDER ON EACH BOARD AGENDA. Form 990, Part VI, Section B, line 15 LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL THE PERSONNEL COMMITTEE EVALUATED THE PRESIDENT/CEO'S COMPENSATION AND MAKES SALARY RECCOMENDATIONS BASED ON SALARY COMPARABILITY STUDY WITH THE STATE AND OTHER NONPROFITS ACROSS THE STATE. LINE 15B -COMPENSATION PROCESS FOR OFFICERS THE PERSONNEL COMMITTEE REVIEWS THE SALARIES OF PERSONNEL ON A REGULAR BASIS. Form 990, Part VI, Section C, line 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST TO THE ORGANIZATION'S OFFICE. Form 990, Part XII, Line 2c: No changes from the prior year. NATIONAL INSTITUTE OF MINORITY PO BOX 1331 DURHAM NC 27702 561579041 CHARITY NC 501(c)(3) Line 7 INSTITUTE 0 Institute Community Development PO BOX 1331 DURHAM NC 27702 923869485 CHARITY NC 501(c)(3) Line 7 INSTITUTE 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 NATIONAL INSTITUTE OF MINORITY O 1297126 SHARED SERVICES NATIONAL INSTITUTE OF MINORITY E 9539511 LOAN GUARANTEES NATIONAL INSTITUTE OF MINORITY K 31770 RENT RECEIVED