Nonprofit · EIN 54-1193174
BUSINESS FINANCE GROUP INC
Tax-exempt · FAIRFAX, VA 22030
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $4,855,899 | $4,707,207 | $148,692 | $8,397,570 | $3,380,956 | $5,016,614 |
| September 30, 2024 | 990 | $5,053,546 | $4,704,515 | $349,031 | $8,339,857 | $3,471,935 | $4,867,922 |
| September 30, 2023 | 990 | $4,675,831 | $4,467,830 | $208,001 | $8,201,932 | $3,683,041 | $4,518,891 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $4,717,027
- Investment income
- $138,872
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $5,232
- Compensation of officers, directors and key employees
- $481,665
- Other salaries and wages
- $2,582,334
- Salaries, compensation and benefits (total)
- $3,898,552
- Professional fundraising fees
- $0
- Legal fees
- $24,015
- Accounting fees
- $48,903
- Occupancy
- $141,402
- Travel
- $89,179
- Depreciation
- $72,925
Balance sheet and other
- Total assets, start of year
- $8,339,857
- Total assets, end of year
- $8,397,570
- Total liabilities, end of year
- $3,380,956
- Net assets, end of year
- $5,016,614
- Land, buildings and equipment
- $1,947,704
- Net assets without donor restrictions
- $5,016,614
- Gross receipts
- $4,855,899
- Employees
- 25
- Volunteers
- 12
- Year formed
- 1982
- State of legal domicile
- VA
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 September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RICHARD G FRANK | PRESIDENT/CEO Officer | 40 | $420,498 | $17,840 |
| ANGELA SMITH | SR. VICE PRESIDENT,SERVICE Highest-paid employee | 40 | $218,417 | $9,691 |
| SHARON MASIN | DIRECTOR, FINANCE & ACCOUNTING Highest-paid employee | 40 | $187,971 | $7,984 |
| JASON PAISLEY | LOAN OFFICER Highest-paid employee | 40 | $169,555 | $6,826 |
| MARC OHLER | CHIEF CREDIT OFFICER Highest-paid employee | 40 | $169,784 | $6,216 |
| GERALD BAROUDI | SR. VICE PRESIDENT/LOAN OFFICER Highest-paid employee | 40 | $149,802 | $7,597 |
| JAMES SCANLON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MICHAEL W CLARKE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOHN BAIOCCO | DIRECTOR Trustee or director | 2 | $0 | $0 |
| AL GARCIA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JENNIFER JONES | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DEBORAH MINOR | ASSISTANT SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| HELEN PROPHETER | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| JOHN J YOUNG | ASSISTANT TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| JOSEPH B HUMPHRIES | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CARL HAIRSTON | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| T SEAN E ROGSTAD | PAST CHAIR Trustee or director, Officer | 2 | $0 |
| SCOT R BROWNING | CHAIR Trustee or director, Officer | 2 | $0 |
990 for the year ended September 30, 2024: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RICHARD FRANK | PRESIDENT/CEO Officer | 40 | $412,998 | $11,820 |
| GERALD BAROUDI | SR. VICE PRESIDENT/LOAN OF Highest-paid employee | 40 | $277,958 | $10,014 |
| ANGELA SMITH | SR. VICE PRESIDENT,SERVICE Highest-paid employee | 40 | $211,176 | $8,406 |
| MELISSA BURROUGHS | VP/LOAN OFFICER Highest-paid employee | 40 | $190,631 | $7,801 |
| MARC OHLER | CHIEF CREDIT OFFICER Highest-paid employee | 40 | $191,311 | $5,707 |
| SHARON MASIN | DIRECTOR, FINANCE & ACC Highest-paid employee | 40 | $182,726 | $7,265 |
| JAMES SCANLON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOSEPH B HUMPHRIES | TREASURER Trustee or director | 2 | $0 | $0 |
| T SEAN E ROGSTAD | PAST CHAIRMAN Trustee or director | 2 | $0 | $0 |
| JOHN J YOUNG | ASSISTANT TREASURER Trustee or director | 2 | $0 | $0 |
| SCOT R BROWNING | VICE CHAIRMAN Trustee or director | 2 | $0 | $0 |
| MICHAEL W CLARKE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| SARAH DEVOE | CHAIRMAN Trustee or director | 2 | $0 | $0 |
| DEBORAH MINOR | DIRECTOR Trustee or director | 2 | $0 | $0 |
| HELEN PROPHETER | ASSISTANT SECRETARY Trustee or director | 2 | $0 | $0 |
| JOHN BAIOCCO | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CARL HAIRSTON | SECRETARY Trustee or director | 2 | $0 | $0 |
| AL GARCIA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JENNIFER JONES | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended September 30, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RICHARD FRANK | PRESIDENT/CEO Officer | 40 | $402,095 | $13,625 |
| ANGELA SMITH | SR. VICE PRESIDENT, SERVIC Highest-paid employee | 40 | $208,096 | $8,283 |
| GERALD BAROUDI | SR. VICE PRESIDENT/LOAN OF Highest-paid employee | 40 | $206,279 | $8,231 |
| JASON PAISLEY | SR. VICE PRESIDENT/LOAN OF Highest-paid employee | 40 | $197,746 | $7,889 |
| MARC OHLER | CHIEF CREDIT OFFICER Highest-paid employee | 40 | $187,758 | $5,464 |
| SHARON MASIN | DIRECTOR, FINANCE & ACC Highest-paid employee | 40 | $176,294 | $7,011 |
| JAMES SCANLON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| TOMMIE CRITCHFIELD | SECRETARY Trustee or director | 2 | $0 | $0 |
| JOSEPH B HUMPHRIES | TREASURER Trustee or director | 2 | $0 | $0 |
| T SEAN E ROGSTAD | PAST CHAIRMAN Trustee or director | 2 | $0 | $0 |
| JOHN J YOUNG | ASSISTANT TREASURER Trustee or director | 2 | $0 | $0 |
| SUSAN BANKS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| SCOT R BROWNING | VICE CHAIRMAN Trustee or director | 2 | $0 | $0 |
| MICHAEL W CLARKE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| SARAH DEVOE | CHAIRMAN Trustee or director | 2 | $0 | $0 |
| DEBORAH MINOR | DIRECTOR Trustee or director | 2 | $0 | $0 |
| HELEN PROPHETER | ASSISTANT SECRETARY Trustee or director | 2 | $0 | $0 |
| JOHN BAIOCCO | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CARL HAIRSTON | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3930 PENDER DR STE 300, FAIRFAX, VA 22030-0986
- Principal officer (990 for 2024)
- RICHARD G FRANK, 3930 PENDER DRIVE 300, FAIRFAX, VA 22030
- Signed the 990
- RICHARD G FRANK, PRESIDENT/CEO
- Phone
- (703) 352-0504
- Website
- WWW.BUSINESSFINANCEGROUP.ORG
- Return prepared by
- MANER COSTERISAN PC
Mission
OUR MISSION IS TO HELP SMALL BUSINESSES SUCCEED BY OFFERING SMART, FLEXIBLE FINANCING SOLUTIONS. WE'RE FOCUSED ON STRENGTHENING COMMUNITIES AND DRIVING ECONOMIC EXPANSION THROUGH THE GROWTH OF OUR BUSINESS BORROWERS. WE'RE COMMITTED TO PROVIDING OUTSTANDING CUSTOMER SERVICE TO BOTH OUR SMALL BUSINESSES AND LENDING PARTNERS, AND WE CREATE A WORK ENVIRONMENT THAT VALUES AND RESPECTS EVERY TEAM MEMBER.
Program accomplishments
- THE COMPANY WAS CERTIFIED BY THE SMALL BUSINESS ADMINISTRATION TO ADMINISTER ITS 504 LOAN PROGRAM. THE PROGRAM LOANS FUNDS TO QUALIFIED BUSINESSES TO PROMOTE ECONOMIC DEVELOPMENT AND JOB CREATION AND RETENTION.IN ADDITION TO ITS CORE SBA 504 LOAN PROGRAM, THE COMPANY HAS BEEN APPROVED BY THE SMALL BUSINESS ADMINISTRATION AS A COMMUNITY ADVANTAGE LENDER (CA). THE COMPANY SERVICED CA PROGRAM LOANS DURING THE CURRENT FISCAL YEAR. IN ADDITION, THE COMPANY PROVIDES FIXED RATE TERM LOANS TO SMALL BUSINESSES KNOWN AS BUSINESS FINANCE GROUP GROWTH OPPORTUNITY (BFG "GO") LOANS. THESE LOANS WERE FORMERLY MADE AS SBA INTERMEDIARY LENDING PILOT (ILP) LOANS BUT THE COMPANY HAS NOW EXITED THAT PROGRAM. THESE PROGRAMS PROMOTE ECONOMIC DEVELOPMENT.
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 September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 54-1193174
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1983
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $8,397,570
- Income (IRS master file)
- $4,855,899
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $4,855,899 | $4,707,207 | $8,397,570 | XML |
| 990 | September 2024 | $5,053,546 | $4,704,515 | $8,339,857 | XML |
| 990 | September 2023 | $4,675,831 | $4,467,830 | $8,201,932 | XML |
| 990 | September 2022 | $4,589,110 | $4,313,184 | $8,925,508 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 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 54-1193174).
Questions about BUSINESS FINANCE GROUP INC
- What is the EIN of BUSINESS FINANCE GROUP INC?
- The employer identification number (EIN) of BUSINESS FINANCE GROUP INC is 54-1193174.
- Is BUSINESS FINANCE GROUP INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1983.
- Are donations to BUSINESS FINANCE GROUP INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does BUSINESS FINANCE GROUP INC 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 BUSINESS FINANCE GROUP INC due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BUSINESS FINANCE GROUP INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of BUSINESS FINANCE GROUP INC?
- The 990 for the year ended September 30, 2025 names RICHARD G FRANK.
- Who are the officers and directors of BUSINESS FINANCE GROUP INC?
- The 990 for the year ended September 30, 2025 lists 18 people; 6 received compensation from the organization, the highest $420,498 (RICHARD G FRANK, PRESIDENT/CEO).
- How much revenue does BUSINESS FINANCE GROUP INC have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $4,855,899, expenses of $4,707,207 and total assets of $8,397,570 at year end.
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