Piedmont Business Capital

Nonprofit profile at a glance

EIN
561872877
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2013, Form 990-N 2011
Location
Greensboro, NC, USA
Phone
3362569350
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Small Business Development

Official website

Reported finances

Revenue
$446,116
Expenses
$1,042,664
Assets
$2,776,686
Liabilities
$450,557

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Michael McKinney (Executive Director CEO)

Highest reported compensation

  • Michael McKinney (Executive Director CEO): $132,440 total reported compensation

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

Overview

Mission

To generate economic growth, encourage small business development, create jobs, and revitalize neighborhoods by providing loans and financial services to underserved business

What it reported doing in 2024

Piedmont Business Capital PBC has many services under its main lending program. PBC provided loans to minority and women owned business throughout the Piedmont region with the mayority of loans received by borrowers living in Guilford and Forsyth counties in North Carolina. PBC issued several loans to business in 2024. In addition to business lending, PBC provided technical assistance to members of the community, who may or may not be borrowers. PBC assistance programs provide guidance to business owners to improve operations of theirs business.

Operating model

Revenue model
Grant-funded. 71% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 8
  • Transparency & Controls: 86
  • Accountability: 90
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 11.5%; rating input score 12
  • Program expense ratio: 2.9%; rating input score 3
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -133.7%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 2.66; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 12.7%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 10.5% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 20% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 21.7% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 11.5% of revenue deployed · 2.9% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $30K in reported program spending
  • Leadership: top reported pay $132K · 11 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Financial Efficiency: Mission deployment rate scored 12/100.
  • High — Financial Efficiency: Program expense ratio scored 3/100.
  • High — Sustainability: Operating margin scored 1/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.