2024-11-13T11:46:16-06:00 2023-12-31 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2023-01-01 863988949 LOCUS LOCU 5402603126 7814 CAROUSEL LANE SUITE 100 RICHMOND VA 23294 CLYDE A CORNETT JR CFO 5402603126 2024-10-28 1 0 PATRICK PITTMAN P00587461 5403450936 2024-10-28 2023 2024-10-15 13:58:12Z X CLYDE A CORNETT JR 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 12113077 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. VCC 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. 16 14 105 0 0 0 0 12000000 0 0 44482 113077 0 0 44482 12113077 0 0 0 0 0 0 0 0 0 4600 225818 4600 225818 39882 11887259 102314462 116076941 1580985 1417443 100733477 114659498 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 1 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 68 0 1 105 1 0 0 0 0 0 0 0 0 0 0 X 16 14 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 CLYDE CORNETT CHIEF FINANCIAL OFFICER, EVP 1.00 39.00 X X 0 263831 0 STACEY ANTONELLI-CHRISTENSEN SECRETARY 1.00 39.00 X X 0 92372 0 SHERRY MAGILL DIRECTOR 1.00 1.00 X 0 10550 0 DIXON HANNA CHAIRMAN 1.00 1.00 X X 0 13700 0 JAMES W HARKNESS JR VICE CHAIR 1.00 1.00 X X 0 14850 0 CHARLIE H MILLS III DIRECTOR 1.00 1.00 X 0 13700 0 CATHY DOLAN DIRECTOR 1.00 1.00 X 0 17450 0 MARY DWYER PEMBROKE DIRECTOR 1.00 1.00 X 0 12300 0 KIM ARMSTRONG DIRECTOR 1.00 1.00 X 0 16100 0 JACKIE PUENTE DIRECTOR 1.00 1.00 X 0 12000 0 FLORENCE KINGSTON DIRECTOR 1.00 1.00 X 0 15750 0 ROBERT GILLIAM DIRECTOR 1.00 1.00 X 0 16050 0 WILLIAM SHELTON DIRECTOR 1.00 2.00 X 0 14700 0 AKSHAY NANDAKUMAR DIRECTOR 1.00 1.00 X 0 11400 0 DAVID EDWARDS DIRECTOR 1.00 1.00 X 0 1000 0 ASHLEY N COLEMAN ASSISTANT SECRETARY 1.00 39.00 X X 0 145360 0 AMIR KIRKWOOD PRESIDENT & CEO 1.00 39.00 X X 0 387910 0 TAMMY JACKSON CHIEF HUMAN RESOURCES OFFICER, SVP 1.00 39.00 X 0 198224 0 CAROLINE NOWERY CHIEF OF EXTERNAL AFFAIRS 1.00 39.00 X 0 183321 0 PETER TAYLOR CHIEF OPERATIONS OFFICER, SVP 1.00 39.00 X 0 221831 0 DEBORAH MARKLEY EXECUTIVE DIRECTOR, LOCAL INVESTMENT STRATEGY 1.00 39.00 X 0 198775 0 JAMES BAEK SR. VICE PRESIDENT, CIGP 1.00 39.00 X 0 245251 0 0 2106425 0 0 0 1 0 0 12000000 12000000 113077 113077 12113077 0 0 113077 X 1236 1236 1890 1890 1970 1970 203450 203450 16490 16490 MISC. OTHER 782 782 225818 0 225818 0 16644528 9956253 3313137 355 2408058 1444023 0 964035 2386797 2002495 89971057 93152746 102314462 116076941 1750 1890 1579235 1415553 1580985 1417443 X 90751169 104677190 9982308 9982308 100733477 114659498 102314462 116076941 X 11887259 2038762 X X 0 1 X 1 0 X 12000000 12000000 12000000 12000000 0 0 0 12000000 8793 44482 113077 166352 8793 44482 113077 166352 8793 44482 12113077 12166352 0.98630 0.01370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1107818 391153 716665 967144 798995 168149 333096 253875 79221 964035 ACCRUED INTEREST RECEIVABLE 16578 INVESTMENT IN LOCUS IMPACT FUND AND LOCUS IMPACT INVESTING 25283595 INVESTMENT IN LOCUS BANK 66506360 RIGHT OF USE ASSET (NET) 1346213 93152746 LEASE LIABILITY 1415553 1415553 X X 1 1 0 0 0 0 0 0 0 AMIR KIRKWOOD PRESIDENT & CEO 0 387910 0 0 0 0 0 0 0 0 0 387910 0 0 CLYDE CORNETT CHIEF FINANCIAL OFFICER, EVP 0 263831 0 0 0 0 0 0 0 0 0 263831 0 0 JAMES BAEK SR. VICE PRESIDENT, CIGP 0 245251 0 0 0 0 0 0 0 0 0 245251 0 0 PETER TAYLOR CHIEF OPERATIONS OFFICER, SVP 0 221831 0 0 0 0 0 0 0 0 0 221831 0 0 DEBORAH MARKLEY EXECUTIVE DIRECTOR, LOCAL INVESTMENT 0 198775 0 0 0 0 0 0 0 0 0 198775 0 0 TAMMY JACKSON CHIEF HUMAN RESOURCES OFFICER, SVP 0 198224 0 0 0 0 0 0 0 0 0 198224 0 0 CAROLINE NOWERY CHIEF OF EXTERNAL AFFAIRS 0 183321 0 0 0 0 0 0 0 0 0 183321 0 0 PART I, LINES 4A-B FORMER EMPLOYEE - 457 DISTRIBUTION PAYMENT MADE IN JANUARY 2023 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 203,450. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 203,450. FORM 990, PART XI, LINE 9: CHANGE IN NET ASSETS FROM UNDISTRIBUTED INCOME OF BANK SUBSIDIARY 1,210,801. CHANGE IN NET ASSETS FROM UNDISTRIBUTED INCOME OF NON-BANK SUBSIDIARY 676,960. CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS 344,177. CAPITAL UPSTREAM FROM NON-BANK SUBSIDIARY 0. DIVIDENDS PAID ON SUBSIDIARY'S PREFERRED STOCK 0. DIVIDENDS PAID TO MINORITY SHAREHOLDERS ON SUBSIDIARY CLASS A STOCK -796. DIVIDENDS PAID TO MINORITY SHAREHOLDERS ON SUBSIDIARY CLASS B STOCK -196,656. NONCONTROLLING INTEREST IN SUBSIDIARY 45,222,839. PY NONCONTROLLING INTEREST IN SUBSIDIARY -44,938,255. CHANGE IN NET ASSETS FROM ADOPTION OF ASU 22016-13 -280,308. 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 INVESTING LOCUS IMPACT INVESTING 7814 CAROUSEL LANE RICHMOND VA 23294 263114011 TO EMPOWER PLACE-FOCUSED INVESTMENT VA 501(C)(3) LINE 10 VCC SOCIAL ENTERPRISES 0 LOCUS FOUNDATION 100 WEST FRANKLIN STREET SUITE 200 RICHMOND VA 23220 814808731 TO SUPPORT AND AID COMMUNITY AND ECONOMIC DEVELOPMENT VA 501(C)(3) LINE 7 VCC SOCIAL ENTERPRISES 0 LOCUS IMPACT FUND INC 110 PEPPERS FERRY RD NW CHRISTIANSBURG VA 24073 541754009 TO SUPPORT AND AID COMMUNITY AND ECONOMIC DEVELOPMENT VA 501(C)(3) LINE 7 VCC SOCIAL ENTERPRISES 0 LOCUS BANK 7814 CAROUSEL LANE RICHMOND VA 23294 260719551 COMMUNITY DEVELOPMENT BANK VA VCC SOCIAL ENTERPRISES C 0.99670 0 LOCUS CAPITAL INC 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 20473 814812627 INVESTMENT ADVICE VA VCC SOCIAL ENTERPRISES C 1.00000 0 CCB REAL ESTATE HOLDINGS INC 7814 CAROUSEL LANE RICHMOND VA 23294 383943768 REAL ESTATE HOLDINGS VA VCC BANK C 1.00000 0 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 LOCUS BANK INC A 12374 INTEREST INCOME LOCUS CAPITAL INC J 15823 OCCUPANCY LOCUS IMPACT FUND J 143595 OCCUPANCY LOCUS BANK J 175945 OCCUPANCY LOCUS IMPACT FUND O 4191779 SALARIES EXPENSE LOCUS CAPITAL INC O 532881 SALARIES EXPENSE LOCUS BANK O 4080298 SALARIES EXPENSE