2025-11-14T10:12:28-06:00 2024-12-31 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2024-01-01 863988949 LOCUS LOCU 5402603126 7814 CAROUSEL LANE SUITE 100 RICHMOND VA 23294 CLYDE A CORNETT JR CFO 5402603126 2025-11-12 1 1 PATRICK PITTMAN P00587461 5403450936 2025-11-12 2024 2025-03-06 01:10:19Z CLYDE A CORNETT JR 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 138182 0 X WWW.LOCUSIMPACT.ORG X 2021 VA OUR MISSION IS TO OFFER INNOVATIVE, FLEXIBLE FINANCIAL PRODUCTS DESIGNED TO SUPPORT HOUSING AND COMMUNITY DEVELOPMENT VENTURES, INCREASE JOBS AND BUILD SUSTAINABLE COMMUNITIES. LOCUS 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. 11 11 99 0 0 0 12000000 0 0 0 113077 138182 0 0 12113077 138182 0 0 0 0 0 287628 0 0 0 225818 321491 225818 609119 11887259 -470937 116076941 120414456 1417443 2393315 114659498 118021141 OUR MISSION IS TO AIDE COMMUNITY AND ECONOMIC DEVELOPMENT INITIATIVES, EITHER DIRECTLY OR THROUGH INVESTMENTS IN SOCIAL ENTERPRISES THAT PROVIDE CAPITAL AND/OR TECHNICAL ASSISTANCE TO EARLY STAGE FOR-PROFIT AND NON-PROFIT BUSINESS ORGANIZATIONS AND COMMUNITY ORGANIZATIONS. 0 0 TO AIDE COMMUNITY AND ECONOMIC DEVELOPMENT INITIATIVES, EITHER DIRECTLY OR THROUGH INVESTMENTS IN SOCIAL ENTERPRISES THAT PROVIDE LOANS, LOAN GUARANTEES, OTHER FORMS OF DEBT OR EQUITY FINANCING FOR EARLY STAGE FOR-PROFIT AND NON-PROFIT BUSINESS ORGANIZATIONS, IMPACT ASSET SERVICING SERVICES AND GRANTS. ADDITIONALLY, THIS ORGANIZATION AND ITS SOCIAL ENTERPRISE SUBSIDIARIES MAY PROVIDE TECHNICAL ASSISTANCE TO BUSINESS OWNERS, COMMUNITY ORGANIZATIONS, CLIENTS AND MANAGERS IN THE EFFECTIVE OPERATION OF THEIR ENTERPRISE. 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 73 0 1 99 1 0 0 0 0 0 0 0 0 0 0 X 11 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 DIXON HANNA CHAIRMAN 1.00 1.00 X 0 9850 0 CHARLIE H MILLS III DIRECTOR 1.00 1.00 X 0 8400 0 CATHY DOLAN DIRECTOR 1.00 1.00 X 0 10950 0 MARY DWYER PEMBROKE DIRECTOR 0.50 0.50 X 0 7150 0 KIM ARMSTRONG DIRECTOR 1.00 1.00 X 0 12150 0 JACKIE PUENTE DIRECTOR 1.00 1.00 X 0 10450 0 FLORENCE KINGSTON DIRECTOR 1.00 1.00 X 0 13850 0 SHERRY MAGILL DIRECTOR 0.50 0.50 X 0 6350 0 WILLIAM SHELTON DIRECTOR 1.00 1.00 X 0 15650 0 AKSHAY NANDAKUMAR DIRECTOR 1.00 1.00 X 0 8450 0 DAVID EDWARDS DIRECTOR 1.00 1.00 X 0 4750 0 JAMES HARKNESS DIRECTOR 1.00 1.00 X 0 2850 0 AMIR KIRKWOOD PRESIDENT & CEO 1.00 39.00 X 240550 150120 0 CLYDE CORNETT CHIEF FINANCIAL OFFICER 1.00 39.00 X 0 360833 11526 ASHLEY N COLEMAN ASSISTANT SECRETARY 1.00 39.00 X 0 167660 5953 STACEY ANTONELLI-CHRISTENSEN SECRETARY 1.00 39.00 X 0 58164 1459 ANGELA C ZENON CHIEF GROWTH AND STRATEGY OFFICER 1.00 39.00 X 43576 200246 6106 HOSHEUS ISAAC CHIEF CREDIT OFFICER 1.00 39.00 X 0 195475 0 ERNEST MADDY SR. RELATIONSHIP MANAGER III, AFFORDABLE HOUSING L 1.00 39.00 X 0 153300 5412 JAMES BAEK SR. VICE PRESIDENT, CIGP 1.00 39.00 X 0 261088 9216 CAROLINE NOWERY CHIEF EXTERNAL AFFAIR OFFICER, SVP 1.00 39.00 X 0 240952 7800 PETER TAYLOR CHIEF INFORMATION OFFICER 1.00 39.00 X 0 215304 7483 TAMMY JACKSON CHIEF HUMAN CAPITAL OFFICER, SVP 1.00 39.00 X 0 212231 6087 WILLIAM GREENLEAF EXECUTIVE DIRECTOR, IMPACT LENDING 1.00 39.00 X 0 206623 7377 284126 2532846 68419 1 0 1 0 IMPERIAL REAL ESTATE HOLDING DBA CAROUSE 7200 GLEN FOREST DRIVE SUITE 100 RICHMOND VA 23226 RENT 244524 TRUE PATH ADVISORY GROUP 10 GLEN OAK DRIVE LANDENBERG PA 19350 CONSULTING 238138 DAN FLYE 1460 LAUREL VIEW DRIVE VIRGINIA BEACH VA 23451 CONSULTING 190550 3 138182 138182 138182 0 0 138182 X 284127 284127 3501 3501 24110 24110 53474 53474 229686 229686 58 58 MISC. OTHER 14163 14163 609119 0 609119 0 16644528 17929127 3313137 2253068 2397123 1567677 964035 829446 2002495 1857398 93152746 97545417 116076941 120414456 1890 1304058 1415553 1089257 1417443 2393315 X 104677190 108487532 9982308 9533609 114659498 118021141 116076941 120414456 X -470937 3832580 X X 0 1 X 1 0 X 12000000 0 12000000 12000000 12000000 0 0 0 12000000 8793 44482 113077 138182 304534 8793 44482 113077 138182 304534 8793 44482 12113077 138182 12304534 0.97530 0.98630 0.02470 0.01370 X 1090920 444092 646828 959291 845598 113693 346912 277987 68925 829446 ACCRUED INTEREST RECEIVABLE 8836 INVESTMENT IN LOCUS IMPACT FUND 26472977 INVESTMENT IN LOCUS BANK 68952459 RIGHT OF USE ASSET (NET) 2111145 97545417 LEASE LIABILITY 1004762 PAYROLL LIABILITIES 84495 1089257 X X 1 0 X X 1 1 0 0 0 0 0 1 0 AMIR KIRKWOOD PRESIDENT & CEO 240550 79245 0 70875 0 0 0 0 0 0 240550 150120 0 0 CLYDE CORNETT CHIEF FINANCIAL OFFICER 0 304583 0 56250 0 0 0 11526 0 0 0 372359 0 0 JAMES BAEK SR. VICE PRESIDENT, CIGP 0 240458 0 20630 0 0 0 9216 0 0 0 270304 0 0 ANGELA C ZENON CHIEF GROWTH AND STRATEGY OFFICER 43576 165876 0 34370 0 0 0 6106 0 0 43576 206352 0 0 CAROLINE NOWERY CHIEF EXTERNAL AFFAIR OFFICER, SVP 0 202692 0 38260 0 0 0 7800 0 0 0 248752 0 0 PETER TAYLOR CHIEF INFORMATION OFFICER 0 194304 0 21000 0 0 0 7483 0 0 0 222787 0 0 TAMMY JACKSON CHIEF HUMAN CAPITAL OFFICER, SVP 0 174031 0 38200 0 0 0 6087 0 0 0 218318 0 0 WILLIAM GREENLEAF EXECUTIVE DIRECTOR, IMPACT LENDING 0 185333 0 21290 0 0 0 7377 0 0 0 214000 0 0 HOSHEUS ISAAC CHIEF CREDIT OFFICER 0 155475 0 40000 0 0 0 0 0 0 0 195475 0 0 ASHLEY N COLEMAN ASSISTANT SECRETARY 0 153160 0 14500 0 0 0 5953 0 0 0 173613 0 0 ERNEST MADDY SR. RELATIONSHIP MANAGER III, AFFORD 0 135300 0 18000 0 0 0 5412 0 0 0 158712 0 0 PART I, LINE 3 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 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 0. MANAGEMENT AND GENERAL EXPENSES 229,686. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 229,686. FORM 990, PART XI, LINE 9: CHANGE IN NET ASSETS FROM UNDISTRIBUTED INCOME OF BANK SUBSIDIARY 2,306,782. CHANGE IN NET ASSETS FROM UNDISTRIBUTED INCOME OF NON-BANK SUBSIDIARY 1,189,381. CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS 297,709. DIVIDENDS PAID ON SUBSIDIARY'S PREFERRED STOCK -424,667. DIVIDENDS PAID TO MINORITY SHAREHOLDERS ON SUBSIDIARY CLASS A STOCK -1,082. DIVIDENDS PAID TO MINORITY SHAREHOLDERS ON SUBSIDIARY CLASS B STOCK -193,261. NONCONTROLLING INTEREST IN SUBSIDIARY 45,880,557. PY NONCONTROLLING INTEREST IN SUBSIDIARY -45,222,839. FORM 990, PART XII, LINE 2C: PROCESS HAS NOT CHANGED FROM PRIOR YEAR. RIVER CITY REAL ESTATE 1001 LLC 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 352448562 FORECLOSED REAL ESTATE HOLDING VA LOCUS IMPACT FUND INC MOUNTAIN REAL ESTATE 2001 LLC 110 PEPPERS 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 FUND INC LOCUS IMPACT FUND 110 PEPPERS FERRY RD NW CHRISTIANSBURG VA 24073 541754009 TO SUPPORT AND AID COMMUNITY AND ECONOMIC DEVELOPMENT VA 501(C)(3) LINE 7 LOCUS 1 LOCUS BANK INC 7814 CAROUSEL LANE RICHMOND VA 23294 260719551 COMMUNITY DEVELOPMENT BANK VA LOCUS C 0.99670 0 LOCUS CAPITAL INC 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 20473 814812627 INVESTMENT ADVICE VA LOCUS C 1.00000 0 CCB REAL ESTATE HOLDINGS INC 7814 CAROUSEL LANE RICHMOND VA 23294 383943768 REAL ESTATE HOLDINGS VA LOCUS BANK INC C 1.00000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 LOCUS IMPACT FUND O 5199044 CASH SETTLEMENT LOCUS BANK INC O 4197745 CASH SETTLEMENT LOCUS IMPACT FUND Q 1705796 CASH SETTLEMENT LOCUS BANK INC Q 1286456 CASH SETTLEMENT LOCUS BANK INC A 3909 CASH SETTLEMENT