Caprock Business Finance Corp Inc

Nonprofit profile at a glance

EIN
751823715
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Lubbock, TX, USA
Phone
8067628721
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$582,932
Expenses
$951,308
Assets
$2,089,242
Liabilities
$470,131

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • BARRY BALLINGER (PRESIDENT)
  • GREG GARLAND (VICE PRESIDENT)

People named in this filing

  • BARRY BALLINGER (PRESIDENT)
  • GREG GARLAND (VICE PRESIDENT)
  • BILL MCCAY (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Originate loans to small businesses to support economic growth and expansion; provide consulting and financial counseling services to small businesses which would otherwise be unable to acquire these types of services.

What it reported doing in 2024

Caprock assisted 11 businesses in obtaining and funding $7,912,000 in sba 504 loans in the current year. Program to date, caprock has originated 374 sba 504 loans totaling $180,042,000 , saving and creating many jobs. The grant and local match funds are used to underwrite the ongoing regional economic program at south plains association of governments

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 65% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 93
  • Accountability: 70
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.9%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -63.2%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 2.2; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 12.4% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.9% of spending went to programs
  • Governance: 16 of 16 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $903K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.