Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 56-1872877

PIEDMONT BUSINESS CAPITAL

Tax-exempt · GREENSBORO, NC 27406

Financials

$2.4M$785K2023$446K$1M2024
Revenue Expenses · by fiscal year end
Financials of PIEDMONT BUSINESS CAPITAL by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$446,116$1,042,664-$596,548$2,776,686$450,557$2,326,129
December 31, 2023990$2,396,117$784,881$1,611,236$4,469,257$263,828$4,205,429
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$316,750
of which government grants
$316,750
Program service revenue
$563
Investment income
$128,803
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$321,152
Salaries, compensation and benefits (total)
$439,463
Professional fundraising fees
$0
Occupancy
$20,330
Travel
$13,342
Depreciation
$1,663
Program services (functional)
$30,353
Management and general (functional)
$1,012,311

Balance sheet and other

Total assets, start of year
$4,469,257
Total assets, end of year
$2,776,686
Total liabilities, end of year
$450,557
Net assets, end of year
$2,326,129
Land, buildings and equipment
$4,181
Net assets without donor restrictions
$2,326,129
Gross receipts
$446,116
Employees
9
Year formed
1993
State of legal domicile
NC

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
Michael McKinneyExecutive Director CEO
Officer
40$132,440
Karl RobinsonChairman
Officer
0$0
Erestine GuidryVice Chairman
Officer
0$0
Reginald McCaskillBoard Member
Officer
0$0
Taiwo JaiyeobaBoard Member
Officer
0$0
Cathy KnowlesSecretary
Officer
0$0
Carlvena FosterBoard Member
Officer
0$0
Jose SandovalTreasurer
Officer
0$0
Mitch GibsonBoard Member
Officer
0$0
David LaneBoard Member
Officer
0$0
Larry DavisBoard Member
Officer
0$0
990 for the year ended December 31, 2023: 10 people
NameTitleHours / weekCompensation
Clark RudolphInterim Executive Director
Officer
40$72,000
Michael McKinneyExecutive Director CEO
Officer
40$54,260
Taiwo JaiyeobaBoard Member
Officer
0$0
Cathy KnowlesSecretary
Officer
0$0
Carlvena FosterBoard Member
Officer
0$0
Reginald McCaskillBoard Member
Officer
0$0
Scott BakerVice Chairman
Officer
0$0
Karl RobinsonChairman
Officer
0$0
Kim CameronBoard Member
Officer
0$0
Erestine GuidryTreasurer
Officer
0$0

Address and contacts

Address (IRS master file)
1451 S ELM-EUGENE ST SUITE 2121, GREENSBORO, NC 27406-2200
In care of
% MICHAEL MCKINNEY
Mailing address (990-N for 2011)
342 NORTH ELM STREET, GREENSBORO NC 274012141
Principal officer (990 for 2024)
Michael McKinney, 1451 S Elm Eugene St Ste 2101, Greensboro, NC 27406
Principal officer (990-N for 2011)
DEBORAH HOOPER, 342 NORTH ELM STREET, GREENSBORO NC 274012141
Signed the 990
MICHAEL MCKINNEY, Executive Director CEO
Phone
(336) 256-9350
Return prepared by
Progresa Inc

Mission

To generate economic growth, encourage small business development, create jobs, and revitalize neighborhoods by providing loans and financial services to underserved business

990 for the year ended December 31, 2024

Program accomplishments

  • Piedmont Business Capital PBC has many services under its main lending program. PBC provided loans to minority and women owned business throughout the Piedmont region with the mayority of loans received by borrowers living in Guilford and Forsyth counties in North Carolina. PBC issued several loans to business in 2024. In addition to business lending, PBC provided technical assistance to members of the community, who may or may not be borrowers. PBC assistance programs provide guidance to business owners to improve operations of theirs business.
    Expenses $30,353

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
56-1872877
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1999
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$2,776,686
Income (IRS master file)
$446,116

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$446,116$1,042,664$2,776,686XML
990December 2023$2,396,117$784,881$4,469,257XML
990December 2022$3,154,236$759,769$5,820,535IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990-N for 2011
Officer: DEBORAH HOOPER
December 31, 2011≤ $50,000 receipts––e-Postcard

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 56-1872877).

Questions about PIEDMONT BUSINESS CAPITAL

What is the EIN of PIEDMONT BUSINESS CAPITAL?
The employer identification number (EIN) of PIEDMONT BUSINESS CAPITAL is 56-1872877.
Is PIEDMONT BUSINESS CAPITAL tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1999.
Are donations to PIEDMONT BUSINESS CAPITAL tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does PIEDMONT BUSINESS CAPITAL 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 PIEDMONT BUSINESS CAPITAL 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 PIEDMONT BUSINESS CAPITAL 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 PIEDMONT BUSINESS CAPITAL?
The 990 for the year ended December 31, 2024 names Michael McKinney.
Who are the officers and directors of PIEDMONT BUSINESS CAPITAL?
The 990 for the year ended December 31, 2024 lists 11 people; 1 received compensation from the organization, the highest $132,440 (Michael McKinney, Executive Director CEO).
How much revenue does PIEDMONT BUSINESS CAPITAL have?
On its 990 for the year ended December 31, 2024 it reported revenue of $446,116, expenses of $1,042,664 and total assets of $2,776,686 at year end.

Other nonprofits in GREENSBORO

All nonprofits in GREENSBORO · North Carolina · Community improvement and capacity building