2022-08-17T17:36:29-05:00 2021-12-31 620713250 KRAFTCPAS PLLC 555 GREAT CIRCLE ROAD NASHVILLE TN 37228 990 2021-01-01 542058754 PARTNER COMMUNITY CAPITAL INC PART 6812524306 PO BOX 839 CHARLES TOWN WV 25414 ROSALIND BLACK SENIOR VP AND DIRECTOR OF FIN 6812524306 2022-08-17 1 ROSALIND BLACK 999009999 FRANCES E LEAHY P00713593 6152427351 2022-08-15 0 AAL1 IAL1 2021 2022-09-23 18:48:47Z X MARTEN R JENKINS JR PO BOX 839 CHARLES TOWN WV 25414 8875484 0 X WWW.PARTNERCAPITAL.ORG X 2001 MD PARTNER COMMUNITY CAPITAL, INC. (PCAP) IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL AND TECHNICAL ASSISTANCE TO SUPPORT DEVELOPMENT OF SMALL BUSINESSES. 11 7 0 18 0 0 4019389 5275026 2880859 3594129 53077 6329 0 0 6953325 8875484 0 0 0 0 35970 77403 0 0 31172 3862299 4829196 3898269 4906599 3055056 3968885 59301893 71837020 40007757 47831401 19294136 24005619 X FOCUSING ON ECONOMICALLY DISTRESSED AREAS, PCAP CATALYZES ENVIRONMENTALLY SUSTAINABLE DEVELOPMENT BY PROVIDING AFFORDABLE, FLEXIBLE CAPITAL AND ADVISORY SERVICES TO SMALL AND EMERGING BUSINESSES THAT CREATE EMPLOYMENT. THROUGH ITS BUSINESS SUPPORT, FIELD BUILDING AND POLICY ACTIVITIES, PCAP EMPLOYS A HOLISTIC APPROACH TO ADDRESS THE COMPLEX, INTERWOVEN ISSUES INHERENT IN POVERTY ALLEVIATION, RURAL DEVELOPMENT AND ENVIRONMENTAL SUSTAINABILITY. AS A PRACTITIONER OF SUSTAINABLE DEVELOPMENT, PCAP DEMONSTRATES METHODS THAT HELP BUSINESSES, INDIVIDUALS AND COMMUNITIES ACHIEVE TANGIBLE CHANGES THAT RESULT IN ENHANCED PERSONAL OR COMMUNITY ASSETS. 0 0 3166479 3559369 LENDING PROGRAM: PCAP IS A SPECIALIZED, NICHE LENDER FOR START-UP AND EARLY STAGE SMALL BUSINESSES IN UNDERSERVED MARKETS. THE PRIMARY GOAL OF ITS LOAN PROGRAMS IS TO CREATE OR RETAIN FULL-TIME PRIVATE SECTOR JOBS. PCAP PROVIDES MICROLOANS IN AMOUNTS FROM $1,000 TO $50,000 AND BUSINESS LOANS SIZED FROM $50,000 TO $1,000,000. PCAP IS APPROVED AS A UNITED STATES DEPARTMENT OF AGRICULTURE (USDA) BUSINESS & INDUSTRY (B & I) GUARANTEED LENDER, GIVING IT THE ABILITY TO PARTICIPATE IN TRANSACTIONS UP TO $2.5 MILLION.PCAP'S BUSINESS CLIENTS ARE PREDMOMINATELY LOCATED IN ECONOMICALLY DISTREESED RURAL COMMUNITIES AND ARE UNABLE TO ACCESS CAPITAL FROM TRADITIONAL SOURCES. TARGET SECTORS INCLUDE, BUT ARE NOT LIMITED TO: ENVIRONMENTAL SERVICES, LOCAL FOOD SYSTEM INFRASTRUCTURE, HERITAGE AND RECREATION-BASED TOURISM, VALUE-ADDED AGRICULTURE, RENEWABLE ENERGY, ENERGY EFFICIENCY, RECYCLING, WATER CONSERVATION AND TREATMENT, SECONDARY FOREST PRODUCTS, NATURAL MEDICINES, GREEN BUILDING, CRITICAL COMMUNITY SERVICES, AND TECHNOLOGIES THAT SUPPORT THE SUSTAINABLE USE OF NATURAL RESOURCES. PCAP PURSUES TRIPLE BOTTOM LINE (TBL) SMALL BUSINESS DEVELOPMENT AS A MEANS TO RESPONSIBLY CREATE WEALTH IN DISTRESSED COMMUNITIES. SMALL AND MID-SIZED BUSINESSES CAN DEMONSTRATE THE VIABILITY OF UTILIZING NATURAL ASSETS RESPONSIBLY, WHILE OFFERING OPPORTUNITIES IN LOW INCOME COMMUNITIES TO BUILD WEALTH THROUGH THE CREATION OF LIVING WAGE JOBS WITH BENEFITS AND SKILL BUILDING OPPORTUNITIES. WHILE PCAP SPECAILIZES IN FINANCING TBL COMPANIES, IT RECOGNIZES THAT ECONOMICALLY AND ENVIRONMENTALLY HEALTHY COMMUNITIES REQUIRE A DIVERSE RANGE OF BUSINESS AND SERVICES, SO PCAP EXPANDED ITS WORK. 1388247 34760 STRATEGIC INITIATIVES PROGRAM: PCAP'S STRATEGIC INITIATIVES USE TARGETED FUNDING AND PARTNERSHIPS WITH SMALL BUSINESS-RELATED OR SECTOR-SPECIFIC COMMUNITY PARTNERS TO DEVOTE ADDED RESOURCES TO PARTICULAR SECTORS OR CONSTITUENCIES WITHIN PCAP'S STATED MISSION. THESE INITIATIVES FREQUENTLY COMBINE PCAP'S LOAN CAPITAL WITH TARGETED BUSINESS ADVISORY SERVICES IN ORDER TO ENSURE BORROWER SUCCESS. 4554726 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 84 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 7 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 WV NC SC MD VA TN OH KY X X ROSALIND BLACK 6812524306 PO BOX 839 CHARLES TOWN WV 25414 X EVAN SMITH DIRECTOR 3.00 34.50 X 0 263780 30766 ERIK MEYERS DIRECTOR 3.00 34.50 X 0 249729 29634 MIKKI SAGER DIRECTOR 3.00 34.50 X 0 151886 0 JERRELL J DEAVER JR DIRECTOR 3.00 X 77403 0 0 WM A TONY HAYES CHAIRMAN 3.00 X X 0 0 0 JEFFREY LUSK VICE CHAIR 3.00 X X 0 0 0 RAY DAFFNER DIRECTOR 1.00 X 0 0 0 ARCHIE HART DIRECTOR 1.00 X 0 0 0 ROBERTA MCCULLOUGH TREASURER 3.00 X X 0 0 0 LISA DENNISON DIRECTOR 1.00 X 0 0 0 JULIA MALINOWSKI SECRETARY 1.00 X X 0 0 0 MARTEN R JENKINS JR PRESIDENT 37.50 X 0 149166 35282 SCOTT TSUKUDA ASSISTANT TREASURER 3.00 34.50 X 0 127019 20004 ROSALIND BLACK SENIOR VICE PRESIDENT 37.50 X 0 117570 11500 HANNAH VARGASON ASSISTANT TREASURER 37.50 X 0 79836 14595 CAROLYN KOLDOS ASSISTANT SECRETARY 37.50 X 0 53463 12980 RICHARD LARSON SENIOR VICE PRESIDENT 37.50 X 0 144202 0 ANNA TEFFT SENIOR VICE PRESIDENT 37.50 X 0 145764 23294 ERIKA MCGILLEY PCAP LENDER 37.50 X 0 111245 24917 77403 1593660 202972 0 0 1 0 THE CONSERVATION FUND A NONPROFIT CORP 1655 N FORT MYER DR SUITE 1300 ARLINGTON VA 22209 MANAGEMENT SERVICES 2638507 1 4304044 970982 5275026 INTEREST INCOME FROM N 522299 2930285 2930285 FEE INCOME ON LOANS 541900 629084 629084 PROJECT INCOME 541900 19549 19549 OTHER FEES 541900 15211 15211 3594129 6329 6329 8875484 3594129 0 6329 X 77403 77403 2638507 2453812 158310 26385 51983 51983 87631 3500 84131 18122 18122 469212 469212 166636 154972 9998 1666 129507 120442 7770 1295 80626 74982 4838 806 75873 70562 4552 759 16464 15311 988 165 3364 3128 202 34 1159581 1159581 31419 31419 LOAN ORIGINATION 129497 129497 LOAN WORKOUT AND OTHER 55851 55851 REPORTING AND FILING FE 21957 21957 EMPLOYEE TRAINING AND D 6178 5745 371 62 -313212 -313212 4906599 4554726 320701 31172 X 3956015 5094427 8806108 15088303 971203 1047859 371343 288554 16400 82353 45180824 50235524 59301893 71837020 111643 315278 3713189 3531304 36031183 42910419 151742 1074400 40007757 47831401 X 11632143 15233898 7661993 8771721 19294136 24005619 59301893 71837020 X 3968885 742598 X X 0 1 X 1 1 1 X 1687771 2520810 1746207 4019389 5275026 15249203 1687771 2520810 1746207 4019389 5275026 15249203 1896760 13352443 36502 100687 185205 53077 6329 381800 15631003 13141833 0.85420 0.80270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 NOTES RECEIVABLE - LENDING PROGRAM 50135529 C SC FUEL DEPOT 99995 C 50235524 FUNDS HELD FOR OTHER 62735 REFUNDABLE ADVANCE 1011665 1074400 X 8875484 0 8875484 0 8875484 4906599 0 4906599 0 4906599 PART X, LINE 2: PCAP IS ORGANIZED AS A MARYLAND NONSTOCK CORPORATION AND HAS RECEIVED A DETERMINATION LETTER FROM THE U.S. INTERNAL REVENUE SERVICES (IRS) GRANTING IT TAX-EXEMPT STATUS AS A CHARITABLE NON-PROFIT ORGANIZATION UNDER IRC SECTIONS 501(C)(3) AND 170(B)(1)(A)(VI). INCOME WHICH IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. PCAP HAD NO NET UNRELATED BUSINESS INCOME TAX FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020. MANAGEMENT EVALUATED PCAP'S TAX POSITIONS AND CONCLUDED THAT PCAP HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. PCAP FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. GENERALLY, PCAP IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR THE YEARS BEFORE 2018. PART VIII: PCAP MAKES SMALL BUSINESS LOANS TO CUSTOMERS. THESE LOANS ARE MADE IN WEST VIRGINIA, NORTH CAROLINA AND THE APPALACHIAN AND RURAL AREAS OF MARYLAND, OHIO, KENTUCKY, TENNESSEE, VIRGINIA, SOUTH CAROLINA AND GEORGIA. THE TOTAL AMOUNT OF THE NOTES RECEIVABLE, NET OF ALLOWANCE FOR POSSIBLE LOSSES AT DECEMBER 31, 2021 IS $50,135,529. ALL LOANS REQUIRE BOARD APPROVAL. THE NOTES HAVE VARIOUS INTEREST RATES AND MATURITY DATES, WITH THE LATEST NOTE MATURING IN 2040. 0 0 0 0 0 0 0 0 0 EVAN SMITH DIRECTOR 0 212896 0 49600 0 1284 0 21460 0 9306 0 294546 0 0 ERIK MEYERS DIRECTOR 0 211845 0 36600 0 1284 0 20840 0 8794 0 279363 0 0 MARTEN R JENKINS JR PRESIDENT 0 147882 0 0 0 1284 0 15990 0 19292 0 184448 0 0 ANNA TEFFT SENIOR VICE PRESIDENT 0 144480 0 0 0 1284 0 14500 0 8794 0 169058 0 0 MIKKI SAGER DIRECTOR 0 128686 0 23200 0 0 0 0 0 0 0 151886 0 0 PART I, LINE 3: THE COMPENSATION OF THE ORGANIZATION'S CEO IS DETERMINED BY A RELATED ORGANIZATION, THE CONSERVATION FUND. TCF USES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OF COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION A, LINE 3 A RELATED ORGANIZATION, THE CONSERVATION FUND, A NONPROFIT CORPORATION ("TCF"), PROVIDES MANAGEMENT SERVICES TO PCAP. THOSE SERVICES INCLUDE TECHNICAL, MANAGEMENT AND ADMINISTRATIVE SUPPORT BY PROVIDING EMPLOYEES FOR FULL-TIME SUPPORT. TCF CAN ALSO SUPPLY LEGAL SUPPORT FOR PCAP TO COMPLETE ITS CHARITABLE MISSION. COMPENSATION PAID BY THE THE MANAGEMENT CONTRACT TO OFFICERS, DIRECTORS, AND KEY EMPLOYEES OF THE PCAP IS INCLUDED IN FORM 990, PART VII COLUMNS E AND F. FORM 990, PART VI, SECTION B, LINE 11B THE INDEPENDENT AUDITING FIRM ENGAGED TO CONDUCT AN ANNUAL AUDIT OF THE FINANCIAL STATEMENTS OF PCAP IS ENGAGED TO ASSIST IN THE PREPARATION OF THE FORM 990. THE PCAP PRESIDENT AND SVP, DIRECTOR OF FINANCE DIRECTLY PARTICIPATE IN THE PREPARATION OF THE FORM, DRAFTING RESPONSES TO QUESTIONS AND REVIEWING THE FORM 990 IN DRAFT FORM. A DRAFT COPY OF THE FORM 990 IS SENT TO THE MEMBERS OF THE PCAP BOARD OF DIRECTORS, REQUESTING COMMENTS AND QUESTIONS FROM THEM. SUBSEQUENT TO THE REVIEW AND REVISION PROCESS OF THE PCAP BOARD AND MANAGEMENT, THE FORM 990 IS FINALIZED AND FILED WITH THE IRS. COPIES OF THE FORM ARE THEN MADE AVAILABLE FOR PUBLIC INSPECTION. FORM 990, PART VI, SECTION B, LINE 15: PCAP DOES NOT HAVE ANY DIRECT EMPLOYEES. EMPLOYEES OF THE CONSERVATION FUND PERFORM THE PROGRAM AND MANAGEMENT DUTIES. THE CONSERVATION FUND USES AN OUTSIDE THIRD PARTY COMPENSATION STUDY TO EVALUATE COMPENSATION LEVELS FOR ITS PRESIDENT AND KEY OFFICIALS. THE CONSERVATION FUND'S GOVERNANCE COMMITTEE APPROVES COMPENSATION AMOUNTS FOR THE PRESIDENT AND KEY OFFICIALS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS PROVIDED TO EACH DIRECTOR, OFFICER, OR MEMBER OF A COMMITTEE AT A REGULAR BOARD MEETING EACH YEAR. EACH INTERESTED PERSON SHALL ANNUALLY SIGN A STATEMENT THAT AFFIRMS THAT SUCH PERSON (A) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, (B) HAS READ AND UNDERSTANDS THE POLICY, (C) HAS AGREED TO COMPLY WITH THE POLICY, AND (D) UNDERSTANDS THAT THE CORPORATION IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IF THERE IS A DISCLOSURE OF A FINANCIAL INTEREST, THE INTERESTED PERSON SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE FINANCIAL INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING DIRECTORS OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION C, LINE 19 PCAP MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A: PCAP IS A SUPPORTING ORGANIZATION TO THE CONSERVATION FUND. ALL DIRECTORS AND OFFICERS WHO ARE COMPENSATED ARE FULL-TIME EMPLOYEES, 37.5 HOURS PER WEEK, OF THE CONSERVATION FUND. HOURS NOT SPENT WORKING BY OFFICERS ON THE AFFAIRS OF PCAP ARE SPENT WORKING FOR THE CONSERVATION FUND OR ANOTHER RELATED ORGANIZATION, SUSTAINABLE CONSERVATION, INC. COMPENSATION LISTED IN COLUMN E OF PART VII, SECTION A AND SCHEDULE J PART II IS PAID BY THE CONSERVATION FUND TO THESE INDIVIDUALS. PCAP PAYS THE CONSERVATION FUND AN ANNUAL MANAGEMENT FEE WHICH INCLUDES PAYMENT FOR THE USE OF THESE EMPLOYEES. MR. JENKINS DEVOTES HIS TIME TO THE AFFAIRS OF PCAP. FORM 990, PART IX, LINE 11G TECHNICAL ASSISTANCE: PROGRAM SERVICE EXPENSES 393,335. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 393,335. CONTRACT EXPENSE: PROGRAM SERVICE EXPENSES 75,877. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 75,877. FORM 990, PART IX, LINE 24E CHANGE IN PROVISION FOR LOAN LOSS: PROGRAM SERVICE EXPENSES -313,212. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES -313,212. FORM 990, PART X, LINE 29: SOME DONOR CONTRIBUTIONS TO BE USED FOR LOAN CAPITAL ARE RECORDED BY PCAP IN ITS LOAN CAPITAL REVOLVING FUND AS PERPETUAL IN NATURE. THE FUNDS ARE USED TO PROVIDE FINANCING CAPITAL TO QUALIFYING BUSINESSES. THE LOAN CAPITAL REVOLVING FUND IS REPLENISHED AS THE LOAN PRINCIPAL IS REPAID. IN THE EVENT THAT A NOTE RECEIVABLE FUNDED BY CONTRIBUTIONS THAT ARE PERPETUAL IN NATURE, BECOMES UNCOLLECTIBLE, PCAP WRITES OFF THE UNCOLLECTIBLE AMOUNT (LOSS) AGAINST THE NET ASSETS. FORM 990, PART XI, LINE 9: IMPACT OF ADOPTING ASC 326 742,598. FORM 990, PART XII, LINE 2C: IN 2021 , THE PCAP AUDIT COMMITTEE CONDUCTED A SEARCH FOR AND SELECTED A NEW AUDITING FIRM. IN PRIOR YEARS, THE CONSERVATION FUND FINANCE STAFF SELECTED PCAPS AUDITORS. THE CONSERVATION FUND 1655 N FORT MYER DR SUITE 1300 ARLINGTON VA 22209 521388917 CONSERVATION MD 501(C)(3) LINE 7 N/A 0 SUSTAINABLE CONSERVATION INC 1655 N FORT MYER DR SUITE 1300 ARLINGTON VA 22209 621586798 CONSERVATION REAL ESTATE OWNERSHIP MD 501(C)(3) LINE 12A, I THE CONSERVATION FUND 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0