2025-11-13T16:12:01+00:00 2025-06-30 580692043 Mauldin & Jenkins LLC 508 Hampton Street 1st Floor Columbia SC 29201 990 2024-07-01 581903219 Carolina Small Business Development Fund CARO 9198031437 3128 HIGHWOODS BLVD 170 RALEIGH NC 27604 Kevin Dick President & CEO 9198031437 2025-11-13 true true Michelle Chapman P01263095 8037995810 2025-11-13 2024 2025-03-06 01:10:19Z Kevin Dick 3128 HIGHWOODS BLVD 170 RALEIGH NC 27604 7963302 false X 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. 19 19 43 19 0 5822109 5042240 2059446 2531130 151673 314092 -39239 2094 7993989 7889556 24908 35000 0 3648429 4244156 0 0 3265936 3244983 6939273 7524139 1054716 365417 36552890 39156291 19888458 22126442 16664432 17029849 OUR MISSION IS TO FOSTER ECONOMIC DEVELOPMENT IN UNDERSERVED COMMUNITIES BY PROVIDING CAPITAL, BUSINESS SERVICES, AND POLICY RESEARCH TO SUPPORT SMALL BUSINESSES. false false 6136448 35000 2531130 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. 6136448 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 false false true false false false false false false false false false false false false false false false true false false false false true 46 0 true 43 true false false false false false false false false false false false false false false X 19 19 false false false false false false false true true false false false true true true true true true true false false false X X Meryl Olson 9198031437 3128 Highwoods Blvd Suite 170 Raleigh NC 27604 Bobby Robinson Vice Chair 1.0 X X 0 0 0 Huntley Garriot Chair 1.0 X X 0 0 0 Jeff Marshall Treasurer 1.0 X X 0 0 0 Rodrick Banks Asst Secretary/Treasurer 1.0 X X 0 0 0 Tiffany McNeill Secretary 1.0 X X 0 0 0 Brian Hedges Board Member 1.0 X 0 0 0 Dr Joseph Fox Board Member 1.0 X 0 0 0 Kim Cameron Board Member 1.0 X 0 0 0 Larry Garcia Board Member 1.0 X 0 0 0 Leslie Person Board Member 1.0 X 0 0 0 Lori O'Keeke Board Member 1.0 X 0 0 0 Merrill Flood Board Member 1.0 X 0 0 0 Pilar Rocha-Goldberg Board Member 1.0 X 0 0 0 Randall Channing Jones Board Member 1.0 X 0 0 0 Raymond Chinn Board Member 1.0 X 0 0 0 Robyn Lake Hamilton Board Member 1.0 X 0 0 0 Sedrick McCallum Board Member 1.0 X 0 0 0 Stephen Dille Board Member 1.0 X 0 0 0 Tonya Portis Board Member 1.0 X 0 0 0 Kevin Dick President & CEO 40.0 X 212094 0 21571 Lori Diaz VP, Business Solutions 40.0 X 114154 0 16597 Mark Royster Jr Senior VP, Chief Credit Officer 40.0 X 146911 0 17854 Meryl Olson VP, Chief Financial Officer 40.0 X 113153 0 13604 Lindsey Brent Allison Loan Portfolio Director 40.0 X 106018 0 6313 Reginold Jones Business Solutions Director 40.0 X 108018 0 6263 Surilma Anuel Western Women's Director 40.0 X 101943 0 15319 902291 0 97521 7 false true false Vann's Attorney 3110 Edwards Mill Road Suite 210 Raleigh NC 27612 Attorney, collection services 185536 McGuire & Woods 800 E Canel Street Richmond VA 23219 Lobbyist 108218 2 18960 5013547 9733 5042240 Business Loan Interest 900099 1733599 1733599 Loan Origination and Closing Fees 900099 245989 245989 Program Sponsorship 900099 5000 5000 Repayment of Bad Debt 900099 379272 379272 Contract Administrative Fees 900099 167270 167270 0 0 0 0 2531130 314092 314092 0 0 0 0 75840 18960 73746 2094 2094 0 0 0 0 0 7889556 2531130 0 316186 35000 35000 636189 473577 162612 2818729 2098252 720477 143226 106617 36609 364419 271272 93147 281593 209617 71976 274090 271349 2741 148376 115733 32643 140218 140218 331400 227644 103756 0 46924 37540 9384 170710 150929 19781 159665 148490 11175 208230 154090 54140 74388 48758 25630 66394 47409 18985 483526 483526 1760 1671 89 49707 36783 12924 Provision for Loan Loss 993101 993101 Dues and Subsrciptions 68362 56740 11622 Grant Repayment 28132 28132 0 0 0 0 7524139 6136448 1387691 0 5870293 6412576 2679474 7899651 149718 2153209 0 0 1877898 0 65533 101948 8797 1760 603988 7037 0 25305986 22135652 0 446218 36552890 39156291 324838 466752 393812 12205 1270935 928073 0 17285333 20252484 613540 466928 19888458 22126442 X 15289601 15582165 1374831 1447684 16664432 17029849 36552890 39156291 365417 0 X false true true true true X 5043896 4106772 7833944 5822109 5042240 27848961 0 0 5043896 4106772 7833944 5822109 5042240 27848961 1733480 26115481 11979 10887 72374 151673 314092 561005 0 2538 70 252 176 0 3036 28413002 12581558 0.91914 0.9049 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - OTHER INCOME, COLUMN A - 2538.0, COLUMN B - 70.0, COLUMN C - 252.0, COLUMN D - 176.0, COLUMN E - , COLUMN F - 3036.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 140218 false false 140218 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY PAID CONSULTANTS FOR LOBBYING ACTIVITIES. false true X 8797 1760 7037 7037 Loans Receivable 24121207 C Loan Loss Reserve -2033884 C Committed Support Funds 0 C Other Committed Support Funds 48329 C 22135652 Federal Income Taxes Lease Liability 466928 466928 X 7963302 73746 73746 7889556 0 0 7889556 7597885 73746 73746 7524139 0 0 7524139 Schedule D, Part IV, Line 2b Explanation of escrow agreement 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, Part X, Line 2 FIN 48 (ASC 740) footnote Carolina Small Business Development Fund is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code (IRC) and applicable state law, except on net income, if any, derived from unrelated business activities. The Organization had no unrelated business income for the years ended June 30, 2025 and 2024, and management is aware of no uncertain tax positions. The Organization qualifies for the charitable contributions deduction under Section 170(b)(l)(A)(vi) and, therefore, has been qualified as an organization that is not a private foundation under Section 509(a)(2). Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Fundraising Expense Reallocated - 73746 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Fundraising Expense Reallocated - 73746 Small Business Awards 76650 15330 61320 20230 4968 24638 Hispanic Heritage Celebration 12550 2510 10040 3287 2904 1050 9627 1 5600 1120 4480 6736 306 94800 18960 75840 30253 7872 1050 34571 73746 2094 false false false false false false false true false Kevin Dick President & CEO 183744 0 28350 0 0 0 10867 0 10704 0 233665 0 0 0 Mark Royster Jr Senior VP, Chief Credit Officer 145911 0 1000 0 0 0 7359 0 10495 0 164765 0 0 0 Schedule J, Part I, Line 7 Non-fixed payments Based on meeting a specific formula or pre-agreed criteria. Form 990, Part VI, Line 11b Review of form 990 by governing body 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, Part VI, Line 12c Conflict of interest policy BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST. THIS POLICY IS MONITORED ON AN ANNUAL BASIS AND DOCUMENTED IN THE MINUTES. Form 990, Part VI, Line 15a Process to establish compensation of top management official COMPENSATION PROCESS FOR TOP OFFICIAL 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, Part VI, Line 19 Required documents available to the public THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST TO THE ORGANIZATION'S OFFICE. Form 990, Part VII, Line 2C. The process has not changed since the prior year. Carolina Capital Impact Inc 3128 Highoods Blvd Suite 17 Raleigh NC 29064 823079867 Inactive NC 501(c)(7) NA false false false false false false false false false false false false false false false false false false false false