Nonprofit · EIN 54-1754009
LOCUS IMPACT FUND
Tax-exempt · CHRISTIANSBRG, VA 24073
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $10,759,380 | $9,778,078 | $981,302 | $89,280,183 | $63,075,843 | $26,204,340 |
| December 31, 2023 | 990 | $9,660,698 | $8,733,182 | $927,516 | $90,026,619 | $64,803,581 | $25,223,038 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $6,190,834
- of which government grants
- $4,707,281
- Program service revenue
- $3,577,019
- Investment income
- $0
- Other revenue
- $991,527
Expenses
- Grants and similar amounts paid
- $200,239
- Other salaries and wages
- $4,879,155
- Salaries, compensation and benefits (total)
- $5,796,271
- Professional fundraising fees
- $0
- Legal fees
- $75,519
- Accounting fees
- $43,685
- Occupancy
- $707,499
- Travel
- $194,941
- Depreciation
- $1,895
- Program services (functional)
- $7,821,231
- Management and general (functional)
- $1,956,847
Balance sheet and other
- Total assets, start of year
- $90,026,619
- Total assets, end of year
- $89,280,183
- Total liabilities, end of year
- $63,075,843
- Net assets, end of year
- $26,204,340
- Land, buildings and equipment
- $2,919
- Net assets without donor restrictions
- $16,670,731
- Net assets with donor restrictions
- $9,533,609
- Gross receipts
- $10,759,380
- Employees
- 99
- Volunteers
- 0
- Year formed
- 1995
- 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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| AMIR KIRKWOOD | PRESIDENT & CEO Officer | 17 | $70,875 | $319,796 | $0 |
| CLYDE CORNETT | CHIEF FINANCIAL OFFICER Officer | 17 | $196,296 | $164,537 | $11,526 |
| JAMES BAEK | SR. VICE PRESIDENT, CIGP Highest-paid employee | 39 | $185,068 | $76,020 | $9,216 |
| ANGELA C ZENON | CHIEF GROWTH AND STRATEGY OFFICER Key employee | 17 | $117,538 | $126,284 | $6,105 |
| CAROLINE NOWERY | CHIEF EXTERNAL AFFAIR OFFICER, SVP Highest-paid employee | 17 | $110,265 | $130,687 | $7,800 |
| PETER TAYLOR | CHIEF INFORMATION OFFICER Highest-paid employee | 17 | $117,900 | $97,405 | $7,484 |
| TAMMY JACKSON | CHIEF HUMAN CAPITAL OFFICER, SVP Highest-paid employee | 17 | $105,763 | $106,468 | $6,087 |
| WILLIAM GREENLEAF | EXECUTIVE DIRECTOR, IMPACT LENDING Highest-paid employee | 17 | $141,622 | $65,002 | $7,377 |
| HOSHEUS ISAAC | CHIEF CREDIT OFFICER Key employee | 17 | $86,992 | $108,483 | $0 |
| ASHLEY N COLEMAN | ASSISTANT SECRETARY Officer | 17 | $78,632 | $89,028 | $5,954 |
| ERNEST MADDY | SR. RELATIONSHIP MANAGER III, AFFORDABLE HOUSING L Key employee | 17 | $60,181 | $93,119 | $5,412 |
| STACEY ANTONELLI-CHRISTENSEN | SECRETARY Officer | 17 | $35,718 | $22,446 | $1,459 |
| WILLIAM SHELTON | DIRECTOR Trustee or director | 1 | $0 | $15,650 | $0 |
| FLORENCE KINGSTON | DIRECTOR Trustee or director | 1 | $0 | $13,850 | $0 |
| KIM ARMSTRONG | DIRECTOR Trustee or director | 1 | $1,500 | $10,650 | $0 |
9 more people on this return
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| CATHY DOLAN | DIRECTOR Trustee or director | 1 | $1,500 | $9,450 |
| JACKIE PUENTE | DIRECTOR Trustee or director | 1 | $10,450 | $0 |
| DIXON HANNA | CHAIRMAN Trustee or director | 1 | $0 | $9,850 |
| AKSHAY NANDAKUMAR | DIRECTOR Trustee or director | 1 | $8,450 | $0 |
| CHARLIE H MILLS III | DIRECTOR Trustee or director | 1 | $0 | $8,400 |
| MARY DWYER PEMBROKE | DIRECTOR Trustee or director | 0.5 | $7,150 | $0 |
| SHERRY MAGILL | DIRECTOR Trustee or director | 0.5 | $0 | $6,350 |
| DAVID EDWARDS | DIRECTOR Trustee or director | 1 | $0 | $4,750 |
| JAMES HARKNESS | DIRECTOR Trustee or director | 1 | $0 | $2,850 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| AMIR KIRKWOOD | PRESIDENT & CEO Trustee or director, Officer | 17 | $162,922 | $224,988 |
| CLYDE CORNETT | TREASURER Trustee or director, Officer | 17 | $110,809 | $153,022 |
| JAMES BAEK | SR. VICE PRESIDENT, CIGP Highest-paid employee | 40 | $245,251 | $0 |
| PETER TAYLOR | CHIEF OPERATIONS OFFICER, SVP Highest-paid employee | 17 | $93,169 | $128,662 |
| DEBORAH MARKLEY | EXECUTIVE DIRECTOR, LOCAL INVESTMENT STRATEGY Highest-paid employee | 38 | $188,836 | $9,939 |
| TAMMY JACKSON | CHIEF HUMAN RESOURCES OFFICER, SVP Highest-paid employee | 17 | $83,254 | $114,970 |
| CAROLINE NOWERY | CHIEF OF EXTERNAL AFFAIRS Highest-paid employee | 17 | $76,995 | $106,326 |
| ASHLEY N COLEMAN | ASSISTANT SECRETARY Trustee or director, Officer | 17 | $61,051 | $84,309 |
| STACEY ANTONELLI-CHRISTENSEN | SECRETARY Trustee or director, Officer | 17 | $38,796 | $53,576 |
| CATHY DOLAN | DIRECTOR Trustee or director | 1 | $1,500 | $15,950 |
| KIM ARMSTRONG | DIRECTOR Trustee or director | 1 | $1,750 | $14,350 |
| FLORENCE KINGSTON | DIRECTOR Trustee or director | 1 | $0 | $15,750 |
| JAMES W HARKNESS JR | VICE CHAIR Trustee or director, Officer | 1 | $0 | $14,850 |
| WILLIAM SHELTON | DIRECTOR Trustee or director | 1 | $0 | $14,700 |
| DIXON HANNA | CHARIMAN Trustee or director, Officer | 1 | $0 | $13,700 |
| CHARLIE H MILLS III | DIRECTOR Trustee or director | 1 | $0 | $13,700 |
| MARY DWYER PEMBROKE | DIRECTOR Trustee or director | 1 | $11,050 | $1,250 |
| JACKIE PUENTE | DIRECTOR Trustee or director | 1 | $12,000 | $0 |
| AKSHA NANDAKUMAR | DIRECTOR Trustee or director | 1 | $11,400 | $0 |
| SHERRY MAGILL | DIRECTOR Trustee or director | 1 | $0 | $10,550 |
| DAVID EDWARDS | DIRECTOR Trustee or director | 1 | $0 | $1,000 |
Address and contacts
- Address (IRS master file)
- 110 PEPPERS FRY RD NW, CHRISTIANSBRG, VA 24073-1068
- Principal officer (990 for 2024)
- CLYDE A CORNETT JR, 110 PEPPERS FERRY ROAD NW, CHRISTIANSBURG, VA 24073
- Signed the 990
- CLYDE A CORNETT JR, CFO
- Phone
- (540) 260-3126
- Website
- WWW.LOCUSIMPACT.ORG
- Return prepared by
- BROWN EDWARDS & COMPANY LLP
Mission
OUR MISSION IS TO OFFER INNOVATIVE, FLEXIBLE FINANCIAL PRODUCTS DESIGNED TO SUPPORT HOUSING AND COMMUNITY DEVELOPMENT VENTURES, INCREASE JOBS AND BUILD SUSTAINABLE COMMUNITIES. LOCUS IMPACT FUND OFFERS LOAN CAPITAL THAT IS BROADER THAN BANK LENDING TO PROJECTS THAT HAVE A POSITIVE IMPACT IN LOW TO MODERATE INCOME COMMUNITIES IN UNDERSERVED GEOGRAPHIES AND MARKETS.
Program accomplishments
- AID COMMUNITY DEVELOPMENT BY PROVIDING LOANS, LOAN GUARANTEES AND OTHER FORMS OF DEBT OR EQUITY FINANCING FOR COMMUNITY AND BUSINESS ORGANIZATIONS, AS WELL AS TO PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO BUSINESS OWNERS AND MANAGERS.Expenses $7,821,231 · grants $200,239 · revenue $4,568,546
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 54-1754009
- 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
- 1999
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S40)
- Assets (IRS master file)
- $89,280,183
- Income (IRS master file)
- $10,759,380
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $10,759,380 | $9,778,078 | $89,280,183 | XML |
| 990 | December 2023 | $9,660,698 | $8,733,182 | $90,026,619 | XML |
| 990 | December 2022 | $9,556,651 | $5,097,939 | $68,117,321 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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 54-1754009).
Questions about LOCUS IMPACT FUND
- What is the EIN of LOCUS IMPACT FUND?
- The employer identification number (EIN) of LOCUS IMPACT FUND is 54-1754009.
- Is LOCUS IMPACT FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1999.
- Are donations to LOCUS IMPACT FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LOCUS IMPACT FUND 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 LOCUS IMPACT FUND 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 LOCUS IMPACT FUND 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 LOCUS IMPACT FUND?
- The 990 for the year ended December 31, 2024 names CLYDE A CORNETT JR.
- Who are the officers and directors of LOCUS IMPACT FUND?
- The 990 for the year ended December 31, 2024 lists 24 people; 17 received compensation from the organization, the highest $70,875 (AMIR KIRKWOOD, PRESIDENT & CEO).
- How much revenue does LOCUS IMPACT FUND have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $10,759,380, expenses of $9,778,078 and total assets of $89,280,183 at year end.
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All nonprofits in CHRISTIANSBRG · Virginia · Community improvement and capacity building