Nonprofit · EIN 54-1598026
BUSINESS DEVELOPMENT CENTRE INC
Tax-exempt · LYNCHBURG, VA 24502
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $316,950 | $258,598 | $58,352 | $1,421,605 | $699,224 | $722,381 |
| June 30, 2024 | 990 | $309,624 | $246,866 | $62,758 | $1,624,217 | $960,188 | $664,029 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $21,005
- Investment income
- $18,530
- Net rental income
- $277,415
- Other revenue
- $277,415
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $71,800
- Other salaries and wages
- $24,283
- Salaries, compensation and benefits (total)
- $103,344
- Professional fundraising fees
- $0
- Accounting fees
- $15,408
- Occupancy
- $56,398
- Depreciation
- $743
- Program services (functional)
- $212,316
- Management and general (functional)
- $46,282
Balance sheet and other
- Total assets, start of year
- $1,624,217
- Total assets, end of year
- $1,421,605
- Total liabilities, end of year
- $699,224
- Net assets, end of year
- $722,381
- Land, buildings and equipment
- $5,278
- Gross receipts
- $316,950
- Employees
- 2
- Volunteers
- 7
- Year formed
- 1991
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BYRON STEWARD | SECRETARY Trustee or director, Officer | 40 | $71,800 |
| JERRY BROOKS | DIRECTOR Trustee or director | 1 | $0 |
| RANDALL CALLOWAY II | DIRECTOR Trustee or director | 1 | $0 |
| KAMAL DARDEN | DIRECTOR Trustee or director | 1 | $0 |
| COREY DAVIS | DIRECTOR Trustee or director | 1 | $0 |
| PAVLINA DIROM | CHAIRWOMAN Trustee or director, Officer | 1 | $0 |
| CHRISTOPHER HACKMAN | DIRECTOR Trustee or director | 1 | $0 |
| SAMUEL HOWE | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| ALISHA MEADOR | DIRECTOR Trustee or director | 1 | $0 |
| ARTHUR PIKE | TREASURER Trustee or director, Officer | 1 | $0 |
| CHERYL VALENTINE | DIRECTOR Trustee or director | 1 | $0 |
| DONNA WITT | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BYRON STEWARD | SECRETARY Trustee or director, Officer | 40 | $71,800 |
| MICHAEL A FORREN | DIRECTOR Trustee or director | 1 | $0 |
| HOLLY ROARK | TREASURER Trustee or director, Officer | 1 | $0 |
| KAMAL DARDEN | DIRECTOR Trustee or director | 1 | $0 |
| COREY DAVIS | DIRECTOR Trustee or director | 1 | $0 |
| PAVLINA DIROM | CHAIRWOMAN Trustee or director, Officer | 1 | $0 |
| SAMUEL HOWE | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| CHERYL VALENTINE | DIRECTOR Trustee or director | 1 | $0 |
| DONNA WITT | DIRECTOR Trustee or director | 1 | $0 |
| ALISHA MEADOR | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 147 MILL RIDGE RD, LYNCHBURG, VA 24502-4341
- Principal officer (990 for 2024)
- BYRON STEWARD, 147 MILL RIDGE RD, LYNCHBURG, VA 24502
- Signed the 990
- BYRON STEWARD, EXECUTIVE DIRECTOR
- Phone
- (434) 583-6100
- Website
- WWW.LBDC.COM
- Return prepared by
- BROWN EDWARDS & COMPANY LLP
Mission
TO PROVIDE COUNSELING AND EDUCATION FOR INDIVIDUALS WHO ARE INTERESTED IN STARTING THEIR OWN BUSINESS
Program accomplishments
- BUSINESS DEVELOPMENT CENTRE - DURING THIS PERIOD ASSISTED 24 COMPANIES BY PROVIDING FACILITIES WITH 48 HOURS OF COUNSELING AND EDUCATIONExpenses $159,237 · revenue $271,905
- TECHNICAL AND MANAGEMENT ASSISTANCE - PROVIDED TECHNICAL ASSISTANCE AND TRAINING TO 253 INDIVIDUALS FOR DEVELOPING SMALL BUSINESS AND PROVIDED GAP FINANCINGExpenses $53,079 · revenue $21,005
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 54-1598026
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1993
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,421,605
- Income (IRS master file)
- $316,950
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $316,950 | $258,598 | $1,421,605 | IRS |
| 990 | June 2024 | $309,624 | $246,866 | $1,624,217 | XML |
| 990 | June 2023 | $281,408 | $255,596 | $2,067,714 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 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 54-1598026).
Questions about BUSINESS DEVELOPMENT CENTRE INC
- What is the EIN of BUSINESS DEVELOPMENT CENTRE INC?
- The employer identification number (EIN) of BUSINESS DEVELOPMENT CENTRE INC is 54-1598026.
- Is BUSINESS DEVELOPMENT CENTRE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
- Are donations to BUSINESS DEVELOPMENT CENTRE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BUSINESS DEVELOPMENT CENTRE 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 DEVELOPMENT CENTRE INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BUSINESS DEVELOPMENT CENTRE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of BUSINESS DEVELOPMENT CENTRE INC?
- The 990 for the year ended June 30, 2025 names BYRON STEWARD.
- Who are the officers and directors of BUSINESS DEVELOPMENT CENTRE INC?
- The 990 for the year ended June 30, 2025 lists 12 people; 1 received compensation from the organization, the highest $71,800 (BYRON STEWARD, SECRETARY).
- How much revenue does BUSINESS DEVELOPMENT CENTRE INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $316,950, expenses of $258,598 and total assets of $1,421,605 at year end.
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