2025-11-17T15:13:16-06:00 2024-12-31 332043014 CASSIDY ADVISORS AND ACCOUNTANTS LLC 1 MATHEWS DR STE 114 HILTON HEAD ISLAND SC 29926 990 2024-01-01 921259404 HOLDING SEVEN COMMUNITY DEVELOPMENT CORP HOLD 8433090676 PO BOX 83 BLUFFTON SC 29910 FRED HAMILTON PRESIDENT/DIRECTOR 8433090676 2025-11-17 1 1 CHRISTINE E CASSIDY P00022087 8436892800 2025-11-14 2024 2025-03-06 01:10:19Z FRED HAMILTON 98 STATION LOOP BLUFFTON SC 29910 220138 0 X N/A X 2023 SC ORGANIZATION ASSISTS LOW INCOME FAMILIES THROUGH COMMUNITY EDUCATION, FOOD DISTRIBUTION, CHILD CARE, AFTER SCHOOL PROGRAMS, AND CULTURAL EXPOSURE. 3 3 0 2 -261556 0 1601310 190997 3300 0 0 0 0 -261556 1604610 -70559 0 4000 0 0 0 0 0 0 0 889 3927 889 7927 1603721 -78486 5623821 5545335 4020000 4020000 1603821 1525335 ORGANIZATION ASSISTS LOW INCOME FAMILIES THROUGH COMMUNITY EDUCATION, FOOD DISTRIBUTION, CHILD CARE, AFTER SCHOOL PROGRAMS, AND CULTURAL EXPOSURE. 0 0 4000 4000 ASSISTING LOW INCOME FAMILIES THROUGH COMMUNITY EDUCATION 4000 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 SC X JON BLACK 8433090676 PO BOX 83 BLUFFTON SC 29910 X FRED HAMILTON PRESIDENT/DIRECTOR 7.00 X X 0 0 0 JON BLACK SECRETARY/DIRECTOR 7.00 X X 0 0 0 FRANK GADSON TREASURER/DIRECTOR 7.00 X X 0 0 0 0 0 0 0 0 0 0 0 190997 190997 29141 290697 -261556 -261556 -261556 -70559 0 -261556 0 4000 4000 3927 3927 7927 4000 3927 0 4770 14549 5501 5613550 82764 5613550 5530786 5623821 5545335 4020000 4020000 4020000 4020000 X 0 0 0 0 1603821 1525335 1603821 1525335 5623821 5545335 -78486 0 X 0 0 0 X 1783179 190997 1974176 1783179 190997 1974176 1934044 40132 3300 29141 32441 2006617 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2245420 2245420 3368130 82764 3285366 5530786 LOAN ON BUILDING 4020000 4020000 FORM 990, PART VI, SECTION B, LINE 11B BOARD MEMBERS REVIEW FORM 990. FORM 990, PART VI, SECTION C, LINE 18 UPON REQUEST FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990 DISCLOSURE BELOW-MARKET LOAN IN JANUARY 2023, THE ORGANIZATION RECEIVED A LOAN OF $4,020,000 ON A DEMAND (NON-INTEREST-BEARING) BASIS FROM AN UNRELATED LENDER. THE LOAN BEARS NO STATED INTEREST AND IS PAYABLE ON DEMAND, UNDER INTERNAL REVENUE CODE 7872, ORGANIZATION MUST COMPUTE IMPUTED (FORGONE) INTEREST USING THE SHORT-TERM APPLICABLE FEDERAL RATE (AFR) PUBLISHED BY THE INTERNAL REVENUE SERVICE FOR EACH MONTH THE LOAN REMAINS OUTSTANDING. BASED ON THE AFRS PUBLISHED FOR CALENDAR YEAR 2024, ORGANIZATION CALCULATED THE FOLLOWING FORGONE INTEREST AMOUNT: $186,997. ORGANIZATION HAS RECOGNIZED THE ABOVE AMOUNT AS A CONTRIBUTION FROM THE LENDER AND THE CORRESPONDING INTEREST EXPENSE, IN ACCORDANCE WITH 7872. THE BOARD OF DIRECTORS REVIEWED AND APPROVED THE TERMS OF THE LOAN AND DETERMINED THAT THE ACCEPTANCE OF THIS BELOW-MARKET FINANCING FURTHERS THE ORGANIZATION'S CHARITABLE PURPOSES. ORGANIZATION WILL CONTINUE TO MONITOR THE OUTSTANDING BALANCE AND APPLICABLE SHORT-TERM AFRS, AND WILL COMPUTE IMPUTED INTEREST ANNUALLY FOR AS LONG AS THE LOAN REMAINS OUTSTANDING.