2024-05-15T11:42:56-04:00 2023-12-31 541896113 ROBINSON FARMER COX ASSOCIATES 530 WESTFIELD RD CHARLOTTESVILLE VA 229011726 990 2023-01-01 454105820 COMMUNITY INVESTMENT COLLABORATIVE COMM PO BOX 2976 CHARLOTTESVILLE VA 22902 STEPHEN DAVIS PRESIDENT 4342183481 2024-05-13 true STEPHEN DAVIS XXX-XX-XXXX false JOSHUA A ROLLER P01464398 4349738314 2024-05-15 2023 2023-04-26 12:10:37Z STEPHEN DAVIS 3958 DEEPWOODS ROAD EARLYSVILLE VA 22936 2055191 false X WWW.CICVILLE.ORG X 2012 VA COMMUNITY INVESTMENT COLLABORATIVE'S MISSION IS TO STRENGTHEN OUR COMMUNITY AND CONTRIBUTE TO ECONOMIC DEVELOPMENT BY FUELING THE SUCCESS OF UNDER- RESOURCED ENTREPRENEURS THROUGH EDUCATION, MENTORING, MICRO-LENDING AND NETWORKING. 14 14 17 100 0 1987242 1705589 254535 324713 2319 24889 0 2244096 2055191 680796 170000 0 930630 1119439 0 106751 423653 707845 2035079 1997284 209017 57907 2566394 2802558 348511 526768 2217883 2275790 X SEE SCHEDULE O false false 863350 29257 CIC PROVIDES BUSINESS EDUCATION, MENTORING AND NETWORKING OPPORTUNITIES TO UNDER-RESOURCED ENTREPRENEURS. THE SIGNATURE EDUCATION PROGRAM IS A 16 WEE ENTREPRENEUR WORKSHOP THAT COMBINES CASE STUDIES, DISCUSSION AND APPLIED LEARNING. A FINANCIAL MANAGEMENT PROGRAM HELPS ENTREPRENEURS DEVELOP THE BOOKKEEPING, RECORD KEEPING, AND FINANCIAL ANALYSIS SKILLS AND HABITS TO BETTER MANAGE THEIR BUSINESS. ADDITIONAL PROGRAMS INCLUDE MENTORING, BUSINESS OFFICE HOURS, SMALL BUSINESS CIRCLES AND OUR COLLABORATIVE CO-WORKING SPACE. IN 2023, 208 CLIENTS PARTICIPATED IN CIC PROGRAMS. TO DATE: THERE ARE 563 GRADUATES OF OUR 16 WEEK WORKSHOP, 145 MENTOR MATCHES, AND 71 FINANCIAL MANAGEMENT PROGRAM PARTICIPANTS. TO DATE: THOSE CLIENTS HAVE STARTED 173 NEW BUSINESSES, SUSTAINED 294 EXISTING BUSINESSES AND CREATED 370 NEW FULL TIME EQUIVALENT JOBS. 383578 173794 CIC HAS TWO CORE FINANCING PROGRAMS INCLUDING A MICROLOAN PROGRAM THAT PROVIDES LOANS UP TO 50,000, A MICRO GRANTS PROGRAM THAT HELPS UNDER- RESOURCED ENTREPRENEURS TEST THEIR PRODUCT OR SERVICES. IN 2023, 62 BUSINESSES RECEIVED 1,506,223 IN LOANS AND 45,916.24 IN MICROGRANTS. CIC'S LIFETIME TOTAL LENDING TO DATE INCLUDES 4.05 MILLION IN LOANS. ADDITIONALLY, CIC PARTNERS WITH LOCAL GOVERNMENTS AND OTHER ENTITIES TO MANAGE GRANT PROGRAMS THAT PROVIDE ACCESS TO CAPITAL TO BUSINESSES IN THE REGION. IN 2023, WE PARTNERED WITH ENTITIES TO PROVIDE CAPITAL TO BUSINESSES THROUGH GRANTS INCLUDING 14 BUSINESSES RECEIVED 172,135 IN GRANTS THROUGH THESE PARTNERSHIPS. CIC PROVIDES LOAN SERVICING TO LOANS NOT ON OUR BALANCE SHEET. AT THE END OF 2023, CIC MANAGED 37 LOANS TOTALLING 946,017 FOR OTHER ORGANIZATIONS. THIS INCLUDES 697,013 IN LOANS FOR PARTNERS WHO PARTICIPATED ON CIC CLIENT LOANS. CIC ALSO PROVIDES LOAN SERVICING TO ANOTHER MISSION DRIVEN LENDER, BRIDGING VIRGINIA BASED OUT OF RICHMOND, VA. CIC LEVERAGES ITS CAPACITY AS LENDER TO SUPPORT BRIDGING VIRGINIA BY MANAGING ITS LOAN PAYMENTS, HELPING BRIDGING VIRGINIA MANAGE 281,825 IN NEW LOANS IN 2023 AND SUPPORTS 249,003 IN OUTSTANDING BALANCES TO TO UNDERO-RESOURCED ENTREPRENEURS IN THE RICHMOND AREA. 527533 15000 THE CVSBDC IS HOUSED AT CIC WITH SUPPORT FROM THE SMALL BUSINESS ADMINISTRATION, STATE AND LOCAL GOVERNMENTS ALONG WITH PRIVATE SUPPORT. IT PROVIDES FREE ONE ON ONE BUSINESS ADVISING AND TRAINING WORKSHOPS. IN 2023, CVSBDC PROVIDED 915 CLIENTS WITH 3151 HOURS OF BUSINESS ADVISING. ADDITIONALLY, 961 INDIVIDUALS PARTICIPATED IN 57 TRAINING EVENTS. CVSBDC CLIENTS CREATED 24 NEW BUSINESSES, ACCESSING 51.37 MILLION IN NEW CAPITAL FORMATION AND CREATED 178 NEW JOBS. NETWORKING AND ECOSYSTEM BUILDING: BUILDING STRONG ENTREPRENEURIAL NETWORKS IS AN UNDERPINNING OF CIC CULTURE. CIC PARTNERS WITH LOCAL ORGANIZATIONS TO OFFERING NETWORKING EVENTS RANGING FROM MARKET ACCESS OPPORTUNITIES AT BLOCK PARTIES AND COMMUNITY FAIRS TO EDUCATION OPPORTUNITIES THROUGH BUSINESS EXPOS AND PITCH NIGHTS. PARTNERING ORGANIZATIONS INCLUDE: TOM TOM FOUNDERS FESTIVAL, WHOLE FOODS MARKET, CHARLOTTESVILLE BUSINESS INNOVATION COUNCIL, VENTURE CENTRAL, AND THE FOUNTAIN FUND. CIC SECURED FUNDING IN 2023 TO DEVELOP THE REGIONAL ENTREPRENEURSHIP INVESTMENT STRATEGY AND WILL LEAD THAT WORK WITH A PARTNER ORGANIZATION VENTURE CENTRAL. 1774461 true true false false false false false false false false true false false true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false true 36 0 17 true false false false false false false false false X 14 14 false false false false false false false true true false false true true true true false false true true false X STEPHEN DAVIS 4342183481 PO BOX 2976 CHARLOTTESVILLE VA 22903 ALEX URPI CHAIR 2.00 X X 0 0 0 DELORES ROBERTS VICE CHAIR 2.00 X X 0 0 0 DANIELLE HOPKINS DIRECTOR 2.00 X 0 0 0 JASON BECTON DIRECTOR 2.00 X 0 0 0 NATASHA GRAY DIRECTOR 2.00 X 0 0 0 SHEA GRAHAM DIRECTOR 2.00 X 0 0 0 JACOB D'ANIELLO DIRECTOR 2.00 X 0 0 0 MOLLY FULTON DIRECTOR 2.00 X 0 0 0 S LISA HERNDON DIRECTOR 2.00 X 0 0 0 KEVIN SCHUYLER DIRECTOR 2.00 X 0 0 0 HOPE LAWRENCE DIRECTOR 2.00 X 0 0 0 ELIZABETH WILLINGHAM DIRECTOR 2.00 X 0 0 0 SARA CLAYBORNE DIRECTOR 2.00 X 0 0 0 STEPHEN DAVIS PRESIDENT 40.00 X 127300 0 0 127300 1 false false false 394108 1311481 1705589 LOAN INTEREST AND FEES 303386 303386 TUITION REVENUE 16290 16290 ENTREPRENEUR 5037 5037 324713 24889 24889 2055191 324713 24889 170000 170000 127300 114421 4280 8599 810728 728709 27258 54761 114607 108531 3705 2371 66804 59831 2421 4552 8367 8367 48595 7575 41020 161454 136976 575 23903 8159 7141 25 993 48162 34444 8953 4765 58708 51679 6900 129 18575 18060 15 500 54407 54045 337 25 103787 91632 12155 5871 5871 LOAN LOSS PROVISION 116869 116869 ENTREPRENEUR GRANTS 48051 48051 SMALL EQUIPMENT 12563 10233 2330 CATERING EVENTS 8335 4465 3870 5942 3432 227 2283 1997284 1774461 116072 106751 796139 825367 490529 348200 244822 338138 10260 328990 89403 98766 239587 925878 1051266 2566394 2802558 48511 76553 300000 300000 150215 348511 526768 X 871330 593941 1346553 1681849 2217883 2275790 2566394 2802558 57907 X false true X true false X 644362 13456329 2734358 1987242 1705589 20527880 644362 13456329 2734358 1987242 1705589 20527880 1992109 18535771 5045 1105 653 2319 24889 34011 20561891 768527 0.90150 0.91490 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 140332 51464 88868 88868 LOANS OUTSTANDING 1049208 SECURITY DEPOSIT 2058 1051266 LEASE LIABILITIES 150215 150215 true SEE ATTACHED 150000 SEE ATTACHED 15000 SCHEDULE I, PAGE 1, PART I, LINE 2 IN 2023, 62 BUSINESSES RECEIVED 1.506,223 IN LOANS AND 45,916.24 IN MICROGRANTS. CIC'S LIFETIME TOTAL LENDING TO DATE INCLUDES 4.05 MILLION IN LOANS. ADDITIONALLY, CIC PARTNERS WITH LOCAL GOVERNMENTS AND OTHER ENTITIES TO MANAGE GRANT PROGRAMS THAT PROVIDE ACCESS TO CAPITAL TO BUSINESSES IN THE REGION. IN 2023, WE PARTNERED WITH ENTITIES TO PROVIDE CAPITAL TO BUSINESSES THROUGH GRANTS INCLUDING 14 BUSINESSES RECEIVED 172,135 IN GRANTS THROUGH THESE PARTNERSHIPS. FORM 990, PAGE 2, PART III, LINE 4A CIC PROVIDES BUSINESS EDUCATION, MENTORING AND NETWORKING OPPORTUNITIES TO UNDER-RESOURCED ENTREPRENEURS. THE SIGNATURE EDUCATION PROGRAM IS A 16 WEE ENTREPRENEUR WORKSHOP THAT COMBINES CASE STUDIES, DISCUSSION AND APPLIED LEARNING. A FINANCIAL MANAGEMENT PROGRAM HELPS ENTREPRENEURS DEVELOP THE BOOKKEEPING, RECORD KEEPING, AND FINANCIAL ANALYSIS SKILLS AND HABITS TO BETTER MANAGE THEIR BUSINESS. ADDITIONAL PROGRAMS INCLUDE MENTORING, BUSINESS OFFICE HOURS, SMALL BUSINESS CIRCLES AND OUR COLLABORATIVE CO-WORKING SPACE. IN 2023, 208 CLIENTS PARTICIPATED IN CIC PROGRAMS. TO DATE: THERE ARE 563 GRADUATES OF OUR 16 WEEK WORKSHOP, 145 MENTOR MATCHES, AND 71 FINANCIAL MANAGEMENT PROGRAM PARTICIPANTS. TO DATE: THOSE CLIENTS HAVE STARTED 173 NEW BUSINESSES, SUSTAINED 294 EXISTING BUSINESSES AND CREATED 370 NEW FULL TIME EQUIVALENT JOBS. FORM 990, PAGE 2, PART III, LINE 4B CIC HAS TWO CORE FINANCING PROGRAMS INCLUDING A MICROLOAN PROGRAM THAT PROVIDES LOANS UP TO 50,000, A MICRO GRANTS PROGRAM THAT HELPS UNDER- RESOURCED ENTREPRENEURS TEST THEIR PRODUCT OR SERVICES. IN 2023, 62 BUSINESSES RECEIVED 1,506,223 IN LOANS AND 45,916.24 IN MICROGRANTS. CIC'S LIFETIME TOTAL LENDING TO DATE INCLUDES 4.05 MILLION IN LOANS. ADDITIONALLY, CIC PARTNERS WITH LOCAL GOVERNMENTS AND OTHER ENTITIES TO MANAGE GRANT PROGRAMS THAT PROVIDE ACCESS TO CAPITAL TO BUSINESSES IN THE REGION. IN 2023, WE PARTNERED WITH ENTITIES TO PROVIDE CAPITAL TO BUSINESSES THROUGH GRANTS INCLUDING 14 BUSINESSES RECEIVED 172,135 IN GRANTS THROUGH THESE PARTNERSHIPS. CIC PROVIDES LOAN SERVICING TO LOANS NOT ON OUR BALANCE SHEET. AT THE END OF 2023, CIC MANAGED 37 LOANS TOTALLING 946,017 FOR OTHER ORGANIZATIONS. THIS INCLUDES 697,013 IN LOANS FOR PARTNERS WHO PARTICIPATED ON CIC CLIENT LOANS. CIC ALSO PROVIDES LOAN SERVICING TO ANOTHER MISSION DRIVEN LENDER, BRIDGING VIRGINIA BASED OUT OF RICHMOND, VA. CIC LEVERAGES ITS CAPACITY AS LENDER TO SUPPORT BRIDGING VIRGINIA BY MANAGING ITS LOAN PAYMENTS, HELPING BRIDGING VIRGINIA MANAGE 281,825 IN NEW LOANS IN 2023 AND SUPPORTS 249,003 IN OUTSTANDING BALANCES TO TO UNDERO-RESOURCED ENTREPRENEURS IN THE RICHMOND AREA. FORM 990, PAGE 2, PART III, LINE 4D NETWORKING AND ECOSYSTEM BUILDING: BUILDING STRONG ENTREPRENEURIAL NETWORKS IS AN UNDERPINNING OF CIC CULTURE. CIC PARTNERS WITH LOCAL ORGANIZATIONS TO OFFERING NETWORKING EVENTS RANGING FROM MARKET ACCESS OPPORTUNITIES AT BLOCK PARTIES AND COMMUNITY FAIRS TO EDUCATION OPPORTUNITIES THROUGH BUSINESS EXPOS AND PITCH NIGHTS. PARTNERING ORGANIZATIONS INCLUDE: TOM TOM FOUNDERS FESTIVAL, WHOLE FOODS MARKET, CHARLOTTESVILLE BUSINESS INNOVATION COUNCIL, VENTURE CENTRAL, AND THE FOUNTAIN FUND. CIC SECURED FUNDING IN 2023 TO DEVELOP THE REGIONAL ENTREPRENEURSHIP INVESTMENT STRATEGY AND WILL LEAD THAT WORK WITH A PARTNER ORGANIZATION VENTURE CENTRAL. FORM 990, PAGE 6, PART VI, LINE 11B THE BOARD FINANCE COMMITTEE MEETS TO REVIEW AND APPROVE THE RETURN BEFORE IT IS SUBMITTED. FORM 990, PAGE 6, PART VI, LINE 12C BOARD MEMBERS ARE REMINDED ANNUALLY ABOUT THE CONFLICT OF INTEREST POLICY. THE POLICY IS DISCLOSED TO ALL NEW BOARD MEMBERS DURING THEIR ORIENTATION PERIOD. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS AUTHORIZES EXECUTIVE'S PAY AND THE OVERALL WAGES FOR THE ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 15B THE BOARD OF DIRECTORS AUTHORIZES EXECUTIVE'S PAY AND THE OVERALL WAGES FOR THE ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 19 CIC MAINTAINS A COMPREHENSIVE WEBSITE THAT DESCRIBES THE ORGANIZATION'S MISSION, GOVERNING BODY, STAFF, TEAM SPONSORS, RESOURCES, PROGRAMS, NEWS, CALENDAR OF EVENTS, AND CONTACT INFORMATION. ADDITIONAL INFORMATION IS RELEASED UPON REQUEST.