Nonprofit · EIN 54-1239624
504 CAPITAL CORPORATION
Tax-exempt · CHESAPEAKE, VA 23320
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $2,927,114 | $2,672,155 | $254,959 | $5,090,012 | $660,202 | $4,429,810 |
| September 30, 2024 | 990 | $2,685,861 | $1,956,998 | $728,863 | $4,572,589 | $389,494 | $4,183,095 |
| September 30, 2023 | 990 | $2,391,150 | $1,897,942 | $493,208 | $3,755,978 | $467,662 | $3,288,316 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $2,612,259
- Investment income
- $314,855
- Net gain from sales of assets
- -$7,106
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $329,000
- Other salaries and wages
- $1,165,464
- Salaries, compensation and benefits (total)
- $1,868,052
- Professional fundraising fees
- $0
- Legal fees
- $94,546
- Accounting fees
- $34,471
- Occupancy
- $93,905
- Travel
- $85,694
- Depreciation
- $7,981
Balance sheet and other
- Total assets, start of year
- $4,572,589
- Total assets, end of year
- $5,090,012
- Total liabilities, end of year
- $660,202
- Net assets, end of year
- $4,429,810
- Land, buildings and equipment
- $25,420
- Net assets without donor restrictions
- $4,429,810
- Gross receipts
- $4,088,507
- Employees
- 8
- Volunteers
- 6
- Year formed
- 1983
- 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 |
|---|---|---|---|---|
| Brent Swanson | President Trustee or director, Officer | 40 | $305,000 | $24,000 |
| Christopher J Topping | Business Development Officer Highest-paid employee | 40 | $321,250 | $0 |
| Laura M Sawyer | Underwriter Highest-paid employee | 40 | $172,500 | $12,000 |
| Kara E Cournoyer | Operations Officer Highest-paid employee | 40 | $172,500 | $0 |
| Joseph L Barnes Jr | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Tara F Saunders | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| David S Jolley | Director Trustee or director | 1 | $0 | $0 |
| Florence G Kingston | Director Trustee or director | 1 | $0 | $0 |
| Howard Wessells | Director Trustee or director | 1 | $0 | $0 |
| Phil Smith | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended September 30, 2024: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Brent Swanson | President Trustee or director, Officer | 40 | $310,417 | $26,000 |
| Christopher J Topping | Business Development Officer Highest-paid employee | 40 | $212,083 | $0 |
| Laura M Sawyer | Underwriter Highest-paid employee | 40 | $148,333 | $9,600 |
| Kara E Cournoyer | Operations Officer Highest-paid employee | 40 | $147,000 | $0 |
| Joseph L Barnes Jr | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Tara F Saunders | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| David S Jolley | Director Trustee or director | 1 | $0 | $0 |
| Florence G Kingston | Director Trustee or director | 1 | $0 | $0 |
| Phil Smith | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended September 30, 2023: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRENT SWANSON | PRESIDENT Trustee or director, Officer | 40 | $254,000 | $43,100 |
| CHRISTOPHER J TOPPING | BUSINESS DEVELOPMENT OFFICER Highest-paid employee | 40 | $150,000 | $22,500 |
| KARA COURNOYER | OPERATIONS OFFICER Highest-paid employee | 40 | $132,000 | $19,800 |
| LAURA M SAWYER | UNDERWRITER Highest-paid employee | 40 | $126,000 | $18,900 |
| STEPHEN S PERRY | LOAN PORTFOLIO MANAGER Highest-paid employee | 1 | $103,500 | $15,525 |
| TARA F SAUNDERS | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| JOSEPH L BARNES JR | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| DAVID S JOLLEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| FLORENCE G KINGSTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRUCE R JONES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PHIL SMITH | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 501 INDEPENDENCE PKWY STE 330, CHESAPEAKE, VA 23320-5159
- Principal officer (990 for 2024)
- Brent Swanson, 501 Independence Parkway 330, Chesapeake, VA 23320
- Signed the 990
- Brent Swanson, President
- Phone
- (757) 623-2691
- Website
- WWW.504CAPITAL.COM
- Return prepared by
- Forvis Mazars LLP
Mission
To provide SBA Sec. 504 loans.
Program accomplishments
- 504 Capital Corporation has provided permanent below market financing to small businesses through US SBA 504 loan programs. These small business owners consist of minority-owned, women-owned, and veteran-owned businesses and some were located in the federally approved revitalization areas who could not obtain permanent financing without assistance from 504 Capital Corporation. 504 Capital Corporation obtains documentation from the borrower's primary lender explaining that they will not finance proposed projects. The documentation also explains that financing is required for the small business to move forward. The assistance provided by 504 Capital Corporation resulted in the rebuilding of neighborhoods targeted for public investment to improve and upgrade economic conditions on depressed areas. It also resulted in the creation of new jobs and retention of a significant number of jobs.
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 15, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 16, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 17, 2025 | 990 on file |
IRS record
- EIN
- 54-1239624
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1985
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $5,090,012
- Income (IRS master file)
- $4,088,507
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $2,927,114 | $2,672,155 | $5,090,012 | XML |
| 990 | September 2024 | $2,685,861 | $1,956,998 | $4,572,589 | XML |
| 990 | September 2023 | $2,391,150 | $1,897,942 | $3,755,978 | XML |
| 990 | September 2022 | $1,795,888 | $1,695,518 | $2,979,414 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | 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 54-1239624).
Questions about 504 CAPITAL CORPORATION
- What is the EIN of 504 CAPITAL CORPORATION?
- The employer identification number (EIN) of 504 CAPITAL CORPORATION is 54-1239624.
- Is 504 CAPITAL CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1985.
- Are donations to 504 CAPITAL CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does 504 CAPITAL CORPORATION 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 504 CAPITAL CORPORATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did 504 CAPITAL CORPORATION 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 504 CAPITAL CORPORATION?
- The 990 for the year ended September 30, 2025 names Brent Swanson.
- Who are the officers and directors of 504 CAPITAL CORPORATION?
- The 990 for the year ended September 30, 2025 lists 10 people; 4 received compensation from the organization, the highest $305,000 (Brent Swanson, President).
- How much revenue does 504 CAPITAL CORPORATION have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $2,927,114, expenses of $2,672,155 and total assets of $5,090,012 at year end.
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