2025-12-18T09:40:08-05:00 2023-12-31 332043014 CASSIDY ADVISORS AND ACCOUNTANTS 1 MATTHEWS DR 14 HILTON HEAD ISLAND SC 29926 990 2023-01-01 921259404 HOLDING SEVEN COMMUNITY DEVELOPMENT CORPORATION HOLD 8433090676 PO BOX 83 BLUFFTON SC 29910 JON BLACK SECRETARY/DIRECTOR 8433090676 2025-12-17 true CHRISTINE E CASSIDY P00022087 8436892800 2025-12-18 2023 2025-03-06 01:10:19Z X X FRED HAMILTON 98 STATION LOOP BLUFFTON SC 29910 1786479 false X X 2023 SC ORGANIZATION ASSISTS LOW INCOME FAMILIES THROUGH COMMUNITY EDUCATION, FOOD DISTRIBUTION, CHILD CARE, AFTER SCHOOL PROGRAMS AND CULTURAL EXPOSURE. 3 3 0 0 1783179 3300 0 0 1786479 0 0 0 0 0 182758 182758 1603721 100 5623821 4020000 100 1603821 ORGANIZATION ASSISTS LOW INCOME FAMILIES THROUGH COMMUNITY EDUCATION, FOOD DISTRIBUTION, CHILD CARE, AFTER SCHOOL PROGRAMS AND CULTURAL EXPOSURE. false false ASSISTING LOW INCOME FAMILIES THROUGH COMMUNITY EDUCATION. true true false false false false false false false false true false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 0 false false false false false false false false X 3 3 false false false false false false false true true false false true true false false false false false false false SC X JON BLACK 8433090676 PO BOX 83 BLUFFTON SC 29910 X JON BLACK SECRETARY/DI 7.00 X X 0 0 0 FRANK GADSON TREASURER/DI 7.00 X X 0 0 0 FRED HAMILTON PRESIDENT/DI 7.00 X X 0 0 0 false false false 1783179 1783179 PARKING LOT 3300 3300 3300 1786479 3300 181869 181869 BANK FEES 889 889 182758 0 182758 0 100 4770 5501 5613550 5613550 100 5623821 4020000 0 4020000 X 100 1603821 100 1603821 100 5623821 1603721 X false false false X 1783179 1783179 1783179 1783179 1783179 3300 3300 1786479 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5613550 5613550 5613550 4020000 4020000 FORM 990, PAGE 1, ITEM B RETURN WAS AMENDED TO INCLUDE BELOW-MARKET LOAN DISCLOSURE ON SCHEDULE O AND TO REPORT FORGONE INTEREST AS CONTRIBUTION REVENUE AND INTEREST EXPENSE. FORM 990 AND AFFECTED SCHEDULES WERE UPDATED TO INCLUDE ADDITIONAL CONTRIBUTION AND EXPENSE OF 181,869. FORM 990 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 2023, ORGANIZATION CALCULATED THE FOLLOWING FORGONE INTEREST AMOUNT: 181,869. 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. FORM 990, PAGE 6, PART VI, LINE 11B BOARD MEMBERS REVIEW 990 FORM 990, PAGE 6, PART VI, LINE 19 UPON REQUEST