Nonprofit · EIN 58-1903219
CAROLINA SMALL BUSINESS DEVELOPMENT FUND
Tax-exempt · RALEIGH, NC 27604
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $7,889,556 | $7,524,139 | $365,417 | $39,156,291 | $22,126,442 | $17,029,849 |
| June 30, 2024 | 990 | $7,993,989 | $6,939,273 | $1,054,716 | $36,552,890 | $19,888,458 | $16,664,432 |
| June 30, 2023 | 990 | $10,484,327 | $9,336,378 | $1,147,949 | $34,372,780 | $18,763,064 | $15,609,716 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $5,042,240
- of which government grants
- $5,013,547
- Program service revenue
- $2,531,130
- Investment income
- $314,092
- Net income from fundraising events
- $2,094
- Other revenue
- $2,094
Expenses
- Grants and similar amounts paid
- $35,000
- Compensation of officers, directors and key employees
- $636,189
- Other salaries and wages
- $2,818,729
- Salaries, compensation and benefits (total)
- $4,244,156
- Professional fundraising fees
- $0
- Legal fees
- $274,090
- Accounting fees
- $148,376
- Occupancy
- $208,230
- Travel
- $74,388
- Depreciation
- $1,760
- Program services (functional)
- $6,136,448
- Management and general (functional)
- $1,387,691
Balance sheet and other
- Total assets, start of year
- $36,552,890
- Total assets, end of year
- $39,156,291
- Total liabilities, end of year
- $22,126,442
- Net assets, end of year
- $17,029,849
- Land, buildings and equipment
- $7,037
- Net assets without donor restrictions
- $15,582,165
- Net assets with donor restrictions
- $1,447,684
- Gross receipts
- $7,963,302
- Employees
- 43
- Volunteers
- 19
- Year formed
- 1990
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Kevin Dick | President & CEO Officer | 40 | $212,094 | $21,571 |
| Mark Royster Jr | Senior VP, Chief Credit Officer Officer | 40 | $146,911 | $17,854 |
| Lori Diaz | VP, Business Solutions Officer | 40 | $114,154 | $16,597 |
| Meryl Olson | VP, Chief Financial Officer Officer | 40 | $113,153 | $13,604 |
| Surilma Anuel | Western Women's Director Highest-paid employee | 40 | $101,943 | $15,319 |
| Reginold Jones | Business Solutions Director Highest-paid employee | 40 | $108,018 | $6,263 |
| Lindsey Brent Allison | Loan Portfolio Director Highest-paid employee | 40 | $106,018 | $6,313 |
| Bobby Robinson | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Huntley Garriot | Chair Trustee or director, Officer | 1 | $0 | $0 |
| Jeff Marshall | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Rodrick Banks | Asst Secretary/Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Tiffany McNeill | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Brian Hedges | Board Member Trustee or director | 1 | $0 | $0 |
| Dr Joseph Fox | Board Member Trustee or director | 1 | $0 | $0 |
| Kim Cameron | Board Member Trustee or director | 1 | $0 | $0 |
11 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Larry Garcia | Board Member Trustee or director | 1 | $0 |
| Leslie Person | Board Member Trustee or director | 1 | $0 |
| Lori O'Keeke | Board Member Trustee or director | 1 | $0 |
| Merrill Flood | Board Member Trustee or director | 1 | $0 |
| Pilar Rocha-Goldberg | Board Member Trustee or director | 1 | $0 |
| Randall Channing Jones | Board Member Trustee or director | 1 | $0 |
| Raymond Chinn | Board Member Trustee or director | 1 | $0 |
| Robyn Lake Hamilton | Board Member Trustee or director | 1 | $0 |
| Sedrick McCallum | Board Member Trustee or director | 1 | $0 |
| Stephen Dille | Board Member Trustee or director | 1 | $0 |
| Tonya Portis | Board Member Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KEVIN DICK | PRESIDENT & Officer | 40 | $212,031 | $21,470 |
| MARK ROYSTER | CHIEF CREDIT Officer | 40 | $135,782 | $17,553 |
| JOHN SABISTON | CFO Officer | 40 | $124,412 | $17,602 |
| LORI DIAZ | VP BUSINESS Officer | 40 | $113,982 | $16,067 |
| BRENT ALLISON | LOAN PORTFOL Highest-paid employee | 40 | $103,323 | $6,060 |
| REGINOLD JONES | BUSINESS SOL Highest-paid employee | 40 | $103,323 | $6,060 |
| MERYL OLSON | CFO Officer | – | $96,404 | $0 |
| TED ARCHER | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| RODRICK BANKS | ASSIT BOARD Trustee or director, Officer | 1 | $0 | $0 |
| RAYMOND CHINN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| STEPHEN DILLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MERRILL FLOOD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR JOSEPH FOX | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LARRY GARCIA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HUNTLEY GARRIOTT | CHAIR/FORMER Trustee or director, Officer | 1 | $0 | $0 |
| ROBYN LAKE HAMILTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRIAN HEDGES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFF MARSHALL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SEDRICK MCCALLUM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TIFFANY HALL MCNEIL | BOARD SECRET Trustee or director, Officer | 1 | $0 | $0 |
| LESLIE PERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| FRANK POLLOCK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BOBBY ROBINSON | BOARD VICE C Trustee or director, Officer | 1 | $0 | $0 |
| PILAR ROCHA-GOLDBERG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AARON THOMAS | BOARD ASST S Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KEVIN DICK | PRESIDENT & Officer | 40 | $205,081 | $22,079 |
| MARK ROYSTER | CHIEF CREDIT Officer | 40 | $133,812 | $20,015 |
| JOHN SABISTON | CFO Officer | 40 | $121,526 | $22,149 |
| JAMIE MCCALL | VP POLICY & Officer | 40 | $118,445 | $16,801 |
| LORI DIAZ | VP BUSINESS Officer | 40 | $113,358 | $16,419 |
| ELLYSA SMITH | HUMAN RESOUR Highest-paid employee | 40 | $100,938 | $15,772 |
| REGINOLD JONES | BUSINESS SOL Highest-paid employee | 40 | $101,516 | $6,179 |
| TED ARCHER | BOARD VICE C Trustee or director, Officer | 1 | $0 | $0 |
| RODRICK BANKS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR PAULETTE DILLARD | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| STEPHEN DILLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR JOSEPH FOX | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MERRILL FLOOD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LARRY GARCIA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HUNTLEY GARRIOTT | BOARD TREASU Trustee or director, Officer | 1 | $0 | $0 |
| JEFFREY HASTINGS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TIFFANY HALL MCNEILL | BOARD SECRET Trustee or director, Officer | 1 | $0 | $0 |
| JEFF MARSHALL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GRACE NYSTRUM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| FRANK POLLOCK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LESLIE PERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BOBBY ROBINSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PILAR ROCHA-GOLDBERG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NANCY PATRICK STROUD | FORMER BOARD Trustee or director | 1 | $0 | $0 |
| AARON THOMAS | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3128 HIGHWOODS BLVD STE 170, RALEIGH, NC 27604-6447
- Principal officer (990 for 2024)
- Kevin Dick, 3128 HIGHWOODS BLVD 170, RALEIGH, NC 27604
- Signed the 990
- Kevin Dick, President & CEO
- Phone
- (919) 803-1437
- Website
- CAROLINASMALLBUSINESS.ORG
- Return prepared by
- Mauldin & Jenkins LLC
Mission
OUR MISSION IS TO FOSTER ECONOMIC DEVELOPMENT IN UNDERSERVED COMMUNITIES BY PROVIDING CAPITAL, BUSINESS SERVICES, AND POLICY RESEARCH TO SUPPORT SMALL BUSINESSES.
Program accomplishments
- CAROLINA SMALL BUSINESS DEVELOPMENT FUND IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). IN 2010, THE ORGANIZATION LAUNCHED ITS SMALL BUSINESS REVOLVING LOAN FUND PROGRAM (SBRLF), TARGETING UNDERSERVED COMMUNITIES AND POPULATIONS THAT FIND IT DIFFICULT TO ACCESS CAPITAL. THE ORGANIZATION ALSO PROVIDES FINANCIAL TRAINING AND TECHNICAL ASSISTANCE TO START-UPS AND EXISTING BUSINESSES AND LENDING SERVICES TO COMMUNITY-BASED ORGANIZATIONS.Expenses $6,136,448 · grants $35,000 · revenue $2,531,130
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
- 58-1903219
- 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
- 1990
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W610)
- Assets (IRS master file)
- $39,156,291
- Income (IRS master file)
- $7,963,302
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $7,889,556 | $7,524,139 | $39,156,291 | IRS |
| 990 | June 2024 | $7,993,989 | $6,939,273 | $36,552,890 | IRS |
| 990 | June 2023 | $10,484,327 | $9,336,378 | $34,372,780 | XML |
| 990 | June 2022 | $6,416,650 | $6,271,251 | $42,816,299 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 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 58-1903219).
Questions about CAROLINA SMALL BUSINESS DEVELOPMENT FUND
- What is the EIN of CAROLINA SMALL BUSINESS DEVELOPMENT FUND?
- The employer identification number (EIN) of CAROLINA SMALL BUSINESS DEVELOPMENT FUND is 58-1903219.
- Is CAROLINA SMALL BUSINESS DEVELOPMENT FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1990.
- Are donations to CAROLINA SMALL BUSINESS DEVELOPMENT FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CAROLINA SMALL BUSINESS DEVELOPMENT 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 CAROLINA SMALL BUSINESS DEVELOPMENT FUND 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 CAROLINA SMALL BUSINESS DEVELOPMENT FUND 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 CAROLINA SMALL BUSINESS DEVELOPMENT FUND?
- The 990 for the year ended June 30, 2025 names Kevin Dick.
- Who are the officers and directors of CAROLINA SMALL BUSINESS DEVELOPMENT FUND?
- The 990 for the year ended June 30, 2025 lists 26 people; 7 received compensation from the organization, the highest $212,094 (Kevin Dick, President & CEO).
- How much revenue does CAROLINA SMALL BUSINESS DEVELOPMENT FUND have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $7,889,556, expenses of $7,524,139 and total assets of $39,156,291 at year end.
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All nonprofits in RALEIGH · North Carolina · Public and societal benefit