2026-07-10T07:16:52-07:00 2025-09-30 570957419 The Hobbs Group PA 1704 Laurel Street Columbia SC 29201 990 2024-10-01 570707663 CLIMB Fund CLIM 8439737298 2 Race Street Charleston SC 29403 FA Johnson Executive Dir. 2026-05-12 true true Will Stevens CPA P01208094 8037990555 2024 2025-03-06 01:10:19Z FA Johnson 2 Race Street Charleston SC 29403 3917067 false X N/A X 1979 SC The purpose of the corporation is to further economic development to promote and assist in the growth and development of business concerns and to engage in those activities which are in furtherance of or related to those purposes 15 15 37 0 1026327 623898 1847783 1908035 515960 329070 0 3390070 2861003 0 0 1799803 2170999 0 0 758584 835422 2558387 3006421 831683 -145418 38484414 38918390 12206705 13513461 26277709 25404929 The purpose of the corporation is to further economic development to promote and assist in the growth and development of business concerns and to engage in those activities which are in furtherance of or related to those purposes false false 1918538 1908035 Lending ProgramsBusiness builder loans, SBA Microloan Program, small business loan program, real estate loans, line of credit, and Quick Recovery Loan programs provide funding to eligible businesses within the organization's service area to meet most needs that those businesses may have. although the LDC does not compete with the commercial lenders, it works in collaboration with the local banks and all small business reources in the community. 639513 Technical Assistance ProgramCoupled with its loan products, the organization provides both pre-loan counseling to prospective applicants and intensive post-loan developmental services to its borrowers. Such assistance occurs in various forums: one-on-one counseling, group sessions, workshops, seminars, classes, exhibitions, and site visits. Many of the group sessions are conducted in collaboration with local community resources such as SBDC, SCORE, or the SBA, just to name a few. Throughout the year, the Organization responded to 286 new loan inquiries, and over 1,900 entrepreneuers received some level of technical assistance. Of the total assisted, 282 individuals received information by attending one or more of the 31 seminars, workshops, or networking sessions offered.The organization views its one-on-one technical assistance as critical to providing a foundation for success and offers such assistance through several vehicles of delivery to include consultant team, staff, and its community resources. The consultant team allows the Organization to provide specialized training by offering bookkeeping and QuickBooks training and business counseling through its site visit program. During the year, 73 businesses have received almost 586.5 hours of specialized training. 2558051 true false false false false false false false false false true true false false true 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 true false false false true X 27 0 true 37 true false false false false false false false 0 false false false false false false false X 15 15 false false false false true true true true true false false true true true true true true true true false SC X Micah Griggs 8437243796 2 Race Street Charleston SC 29403 Cynthia Rourk CEO 40.00 0.00 X 173376 0 0 Nina Cano Richards Director 5.00 0.00 X 0 0 0 David Harper Director 5.00 0.00 X 0 0 0 Jamilla Harper Director 5.00 0.00 X 0 0 0 Grant A McAnulty Director 5.00 0.00 X 0 0 0 Paul Jones Director 5.00 0.00 X 0 0 0 Sonja Southerland Director 5.00 0.00 X 0 0 0 Chris Fisher Director 5.00 0.00 X 0 0 0 Stephanie Pritchett Director 5.00 0.00 X 0 0 0 Radia Baxter Director 5.00 0.00 X 0 0 0 Carol Jackson Director 5.00 0.00 X 0 0 0 Jabari Seabrook Director 5.00 0.00 X 0 0 0 Clay Middleton Treasurer 5.00 0.00 X 0 0 0 Kerri Chisholm Vice President 5.00 0.00 X 0 0 0 Casdell E Singleton President 5.00 0.00 X 0 0 0 William Thompson Jr Secretary 5.00 0.00 X 0 0 0 FA Johnson Executive Dir. 40.00 0.00 X 0 0 0 173376 1 false true false 0 623898 623898 Interest Income-Loan 525990 1446893 1446893 Loan Applications & SE 525990 246742 246742 Rental Income 531390 214400 214400 1908035 265733 265733 0 0 0 1119401 1056064 63337 63337 63337 0 0 0 0 2861003 2237105 0 0 0 0 179000 152150 26850 0 1592907 1353971 238936 0 0 399092 359183 39909 0 0 0 0 0 0 263498 201843 61655 0 0 0 0 0 31764 31764 0 0 182317 182317 0 33089 33089 74062 74062 Other Expense 208629 201671 6958 Property Expense 42063 42063 0 3006421 2558051 448370 0 7849337 8807277 0 727537 277216 0 0 0 23932734 23462643 0 8074 0 2024430 514267 1543252 1510163 0 4423479 4861091 0 0 1 0 38484414 38918390 130459 105706 143031 176454 9960040 11229365 1973175 2001936 12206705 13513461 X 15974601 16182470 10303108 9222459 26277709 25404929 38484414 38918390 X -145418 179767 -24315 -882814 X X false true X true true true X 2497425 3407752 1026327 623898 7555402 1080729 1316604 1847783 1908035 6153151 0 0 0 3578154 4724356 2874110 2531933 13708553 0 0 13708553 0 0 0 0 3578154 4724356 2874110 2531933 13708553 X 0.00000 0.00000 930912 930912 738612 348424 390188 226058 64303 161755 28084 22993 5091 100764 78547 22217 1510163 4861091 City of Charleston 1937214 Contingent Liability 64722 2001936 X 3016455 179767 -24315 155452 2861003 2861003 3889235 882814 882814 3006421 3006421 Part X : FIN48 Footnote The Organization has received a determination letter from the Internal Revenue Service (IRS) indicating it is a tax exempt Organization under section 501(c)(3)of the Internal Revenue Code and is exempt from federal and state income taxes, unless income is generated from unrelated business activities. Management is not aware of any transactions which would jeopardize their tax-exempt status. Accounting principles generally accepted in the United States of America requires management to evaluate tax positions taken by the Organization and to recognize a tax liability (or asset) if the Organization has taken an uncertain position that more likely than not would not be substantiated upon examination by the IRS. Management has analyzed the tax positions taken by the Organization and has concluded that as of September 30, 2025 and 2024, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. U.S. state jurisdictions have statutes of limitations that generally range from three to five years. Part XII, Line 2d: Other expenses and losses per audited F/S Bad Debt Expense Reported on AFS $882814 false false false false false false false false false Cynthia Rourk CEO 173376 173376 Form 990, Part VI, Section A, Line 6 The corporation has general members that elect board members in the organization's annual meeting each April. The nominating committee accepts applications from interested individuals and works to solicit and review the experience of potential candidates and presents a proposed slate to the general membership at the annual meeting. In May 2018, the organization iled 501(c)(3) application with the IRS and the required filings with the State of South Carolina to amend the Articles and Bylaws omitting membership. Form 990, Part VI, Section A, Line 7a Only electing members of the board Form 990, Part VI, Section A, Line 7b The corporation has general members that elect board members in the organization's annual meeting each April. Form 990, Part VI, Section B, Line 11b Draft of 990 is circulated and distributed to the entire board and then discussed in Board meeting. Form 990, Part VI, Section B, Line 12c The organization discusses any conflicts of interests in the monthly board meetings. Form 990, Part VI, Section B, Line 15a Comparative analysis is completed utilizing assessment tools through Economic Research Institute. Form 990, Part VI, Section C, Line 19 Yes through a freedom of information request Form 990, Part XI, Line 9 Bad debt expense net of interest income = -$882814 Form 990, Part XII, Line 2c The process has not changed from the prior year Form 990 Part V Line 1c The organization had no reportable payments to a vendor requiring compliance with backup withholding rules, nor did they provide any reportable gaming, gambling, or winnings to a prize winner during the calendar year. N/A false City of Charleston 80 Broad St Charleston SC 29401 SC N/A false false false false true false false false false false true false false false false false false false false false d 1952400 FMV j 20481 FMV