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Nonprofit · EIN 52-2239603

CHESAPEAKE BUSINESS FINANCE CORP

Also known as JOHN SOWER

Tax-exempt · BETHESDA, MD 20816

Financials

$734K$742K2023$889K$826K2024
Revenue Expenses · by fiscal year end
Financials of CHESAPEAKE BUSINESS FINANCE CORP by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$888,855$825,978$62,877$864,372$150,511$713,861
December 31, 2023990$733,589$742,200-$8,611$706,265$55,281$650,984
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$698,719
Investment income
$22,124
Other revenue
$168,012

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$399,712
Salaries, compensation and benefits (total)
$525,785
Professional fundraising fees
$0
Legal fees
$4,214
Accounting fees
$21,440
Occupancy
$1,200
Travel
$3,353
Program services (functional)
$614,825
Management and general (functional)
$211,153

Balance sheet and other

Total assets, start of year
$706,265
Total assets, end of year
$864,372
Total liabilities, end of year
$150,511
Net assets, end of year
$713,861
Gross receipts
$888,855
Employees
2
Volunteers
9
Year formed
1998
State of legal domicile
MD

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
JOHN SOWERPRESIDENT & SECRETARY, EBM
Trustee or director, Officer
50$399,713
THOMAS TURNERVICE PRESIDENT
Officer
40$101,055
ANDREW HECKEXECUTIVE BOARD MEMBER
Trustee or director
0.3$0
CEDRIC L SPRUILLEXECUTIVE BOARD MEMBER
Trustee or director
0.3$0
DAVID SHIKLESEXECUTIVE BOARD MEMBER
Trustee or director
0.2$0
FREDERICK SCHULTZEXECUTIVE BOARD MEMBER
Trustee or director
0.2$0
GARY W THOMASEXECUTIVE BOARD MEMBER
Trustee or director
0.3$0
JOHN W BYRNEEXECUTIVE BOARD MEMBER
Trustee or director
0.3$0
MALCOLM MARSHALLEXECUTIVE BOARD MEMBER
Trustee or director
0.2$0
WILBUR DOVEEXECUTIVE BOARD MEMBER
Trustee or director
0.3$0
990 for the year ended December 31, 2023: 10 people
NameTitleHours / weekCompensation
JOHN SOWERPRESIDENT & SECRETARY, EBM
Trustee or director, Officer
50$387,000
THOMAS TURNERVICE PRESIDENT
Officer
40$91,570
ANDREW HECKEXECUTIVE BOARD MEMBER
Trustee or director
0.3$0
CEDRIC L SPRUILLEXECUTIVE BOARD MEMBER
Trustee or director
0.3$0
DAVID SHIKLESEXECUTIVE BOARD MEMBER
Trustee or director
0.2$0
FREDERICK SCHULTZEXECUTIVE BOARD MEMBER
Trustee or director
0.2$0
GARY W THOMASEXECUTIVE BOARD MEMBER
Trustee or director
0.3$0
JOHN W BYRNEEXECUTIVE BOARD MEMBER
Trustee or director
0.3$0
MALCOLM MARSHALLEXECUTIVE BOARD MEMBER
Trustee or director
0.2$0
WILBUR DOVEEXECUTIVE BOARD MEMBER
Trustee or director
0.3$0

Address and contacts

Address (IRS master file)
4701 SANGAMORE RD 100N, BETHESDA, MD 20816-2558
Principal officer (990 for 2024)
JOHN SOWER, 4701 SANGAMORE RD 100N, BETHESDA, MD 20816
Signed the 990
JOHN SOWER, PRESIDENT
Phone
(240) 224-0217
Return prepared by
FORVIS MAZARS LLP

Mission

TO PROVIDE ASSISTANCE TO SMALL BUSINESSES TO OBTAIN CAPITAL FOR THEIR GROWTH AND EXPANSION IN ACCORDANCE WITH THE UNITED STATES SMALL BUSINESS ADMINISTRATION.

990 for the year ended December 31, 2024

Program accomplishments

  • ISSUE U.S. SMALL BUSINESS ADMINISTRATION LOANS TO ENCOURAGE SMALL BUSINESS GROWTH & FORMATION.
    Expenses $614,825 · revenue $698,719

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
52-2239603
Tax-exempt status
501(c)(4): Social welfare organization
Donations deductible
No
Exempt since
2001
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Employment (J129)
Assets (IRS master file)
$864,372
Income (IRS master file)
$888,855

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$888,855$825,978$864,372XML
990December 2023$733,589$742,200$706,265XML
990December 2022$748,359$720,308$689,174IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 52-2239603).

Questions about CHESAPEAKE BUSINESS FINANCE CORP

What is the EIN of CHESAPEAKE BUSINESS FINANCE CORP?
The employer identification number (EIN) of CHESAPEAKE BUSINESS FINANCE CORP is 52-2239603.
Is CHESAPEAKE BUSINESS FINANCE CORP tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 2001.
Are donations to CHESAPEAKE BUSINESS FINANCE CORP tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does CHESAPEAKE BUSINESS FINANCE CORP file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of CHESAPEAKE BUSINESS FINANCE CORP due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did CHESAPEAKE BUSINESS FINANCE CORP last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of CHESAPEAKE BUSINESS FINANCE CORP?
The 990 for the year ended December 31, 2024 names JOHN SOWER.
Who are the officers and directors of CHESAPEAKE BUSINESS FINANCE CORP?
The 990 for the year ended December 31, 2024 lists 10 people; 2 received compensation from the organization, the highest $399,713 (JOHN SOWER, PRESIDENT & SECRETARY, EBM).
How much revenue does CHESAPEAKE BUSINESS FINANCE CORP have?
On its 990 for the year ended December 31, 2024 it reported revenue of $888,855, expenses of $825,978 and total assets of $864,372 at year end.

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