2020-06-19T09:33:00-05:00 2019-12-31 620713250 KRAFTCPAS PLLC 555 GREAT CIRCLE ROAD NASHVILLE TN 37228 990 2019-01-01 621823596 SOUTHEAST COMMUNITY CAPITAL CORPORATION D/B/A PATHWAY LENDING SOUT 6154257171 201 VENTURE CIRCLE NASHVILLE TN 37228 CLINT GWIN PRESIDENT 6152546113 2020-06-19 1 FRANCES E LEAHY P00713593 6152427351 2020-06-19 65.198.206.98 2020-06-19 09:20:49 CD P F365FB85261832F77CA0A03FAF7338768D0F5E1A 572DC34321C8E55952FE6A1E0B7461300318CAEB 2019 2020-09-23 17:36:50Z CLINT GWIN 201 VENTURE CIRCLE NASHVILLE TN 37228 14133144 0 X WWW.PATHWAYLENDING.ORG X 1999 TN TO PROVIDE LENDING AND EDUCATIONAL SERVICES TO UNDERSERVED SMALL BUSINESSES. 8 6 48 44 -50113 -50113 6037623 6533706 6529596 6849204 417670 682455 0 -64009 12984889 14001356 0 0 0 0 4110088 5172364 0 0 2498 9573185 5007480 13683273 10179844 -698384 3821512 155604838 188207333 127063213 155844196 28541625 32363137 X TO PROVIDE LENDING SOLUTIONS AND EDUCATIONAL SERVICES THAT SUPPORTS THE DEVELOPMENT, GROWTH, AND PRESERVATION OF UNDERSERVED SMALL BUSINESSES, AFFORDABLE HOUSING, AND SUSTAINABLE COMMUNITIES. 0 0 7763432 7481414 LENDING PROGRAM: AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY, SOUTHEAST COMMUNITY CAPITAL DBA PATHWAY LENDING PROVIDES SMALL BUSINESS LOANS TO QUALIFIED SMALL AND DISADVANTAGED BUSINESSES THROUGH VARIOUS GOVERNMENT AND NON-PROFIT LENDING PROGRAMS, INCLUDING: U.S. SMALL BUSINESS ADMINISTRATION (SBA), U.S. TREASURY DEPARTMENT CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI), THE APPALACHIAN REGIONAL COMMISSION (ARC), THE TENNESSEE RURAL OPPORTUNITY FUND, THE TENNESSEE ENERGY EFFICIENCY LOAN PROGRAM, THE TENNESSEE SMALL BUSINESS JOB OPPORTUNITY FUND AND THE ALABAMA SMALL BUSINESS JOB OPPORTUNITY FUND, ETC. WE FOCUS OUR ACTIVITIES ON UNDERSERVED TARGET MARKETS THAT INCLUDE BUSINESSES LOCATED IN QUALIFIED INVESTMENT AREAS (AS DEFINED BY LOW-INCOME CENSUS TRACTS, POVERTY RATES, AND UNEMPLOYMENT STATISTICS), AFRICAN-AMERICAN OWNED BUSINESSES, AND LOW-INCOME OWNED BUSINESSES. OUR SERVICE AREA INCLUDES TENNESSEE AND ALABAMA, AS WELL AS PORTIONS OF MISSISSIPPI, ARKANSAS, AND KENTUCKY.IN 2019, SOUTHEAST COMMUNITY CAPITAL CORPORATION ORIGINATED $36.3MM IN NEW LOANS, OF WHICH 79.87% OF LOANS BY NUMBER AND 85.41% OF LOANS BY DOLLAR ACTIVITY WERE IN QUALIFIED CDFI TARGET MARKETS. 4,717 JOBS IMPACTED AND 368 JOBS CREATED. SOUTHEAST COMMUNITY CAPITAL CORPORATION MADE 109 LOANS AND LINES OF CREDIT TOTALING MORE THAN $21.87MM TO SUPPORT THE CREATION, PRESERVATION, AND GROWTH OF SMALL BUSINESSES, AND 43 LOANS TOTALING APPROXIMATELY $8.69MM TO SUPPORT THE IMPLEMENTATION OF ENERGY EFFICIENCY AND RENEWABLE ENERGY PROJECTS AT BUSINESSES ACROSS TENNESSEE. TOTAL ANNUAL ENERGY SAVINGS FROM THE ENERGY LOANS WERE $1,426,568 WITH 13,186,289 KWH SAVED. 1730784 50245 EDUCATIONAL PROGRAM: SOUTHEAST COMMUNITY CAPITAL CORPORATION PROVIDES BUSINESS EDUCATION AND TECHNICAL ASSISTANCE TO SMALL AND DISADVANTAGED BUSINESSES THROUGH VARIOUS GOVERNMENT AND NON-PROFIT SUPPORT PROGRAMS, INCLUDING: THE U.S. SMALL BUSINESS ADMINISTRATION, THE METROPOLITAN DEVELOPMENT HOUSING AGENCY AND VARIOUS FOUNDATIONS. SOUTHEAST COMMUNITY CAPITAL CORPORATION PROVIDES THIS THROUGH VARIOUS INTERNAL PROGRAMS, SUCH AS THE PATHWAY LENDING BUSINESS ADVISORY SERVICES TEAM, WOMEN'S BUSINESS CENTER, AND VETERANS BUSINESS OUTREACH CENTER. THE ASSISTANCE INCLUDES ACCESS TO FINANCIAL SERVICES, ACCESS TO CAPITAL NEEDS AND INCLUDES CLASSROOM EDUCATION, 1-ON-1 ASSISTANCE AND PEER LEARNING.IN 2019 SOUTHEAST COMMUNITY CAPITAL CORPORATION PROVIDED 21,265 HOURS OF EDUCATION; 14,068 WERE IN CLASSROOM/EVENTS SETTINGS, 6,757 WERE ONE-ON-ONE COUNSELING SESSIONS, AND 440 WERE IN GROUP COACHING SESSIONS. THERE WERE 2,048 UNIQUE CLIENTS SERVED, 70.26% WERE REPRESENTATIVE OF PATHWAY LENDING'S CDFI TARGET MARKETS (AS DEFINED BY LOW-INCOME CENSUS TRACTS OR MINORITY STATUS), WITH 54.93% BEING FEMALE, AND 36.13% BEING AFRICAN AMERICAN. THERE WERE 231 CLASSES, NETWORKING EVENTS, AND COHORT-BASED LEARNING SESSIONS CONDUCTED THAT FOCUSED ON ENTREPRENEURIAL EDUCATION IN AREAS SUCH AS CASH FLOW MANAGEMENT, FINANCIAL PREPARATION, REVENUE AND EXPENSE PROJECTIONS, ACCOUNTING SYSTEMS, AND MANAGEMENT. 9494216 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 1 61 0 1 48 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 8 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 TN X X BARBARA HARRIS 6154257171 201 VENTURE CIRCLE NASHVILLE TN 37228 X TOM HUNTER CHAIRMAN 1.50 X X 0 0 0 HERB BYRD III VICE CHAIRMAN 1.50 X X 0 0 0 DAVE BEREZOV DIRECTOR 1.50 X 0 0 0 IVANETTA DAVIS-SAMUELS DIRECTOR 1.50 X 0 0 0 JON DAVIES DIRECTOR 1.50 X 0 0 0 ANDRE GIST DIRECTOR 1.50 X 0 0 0 CINDY HERRON DIRECTOR 1.50 X 0 0 0 HUGH QUEENER DIRECTOR 1.50 X 0 0 0 KELLY MCGILL END MAY 2019 DIRECTOR 1.50 X 0 0 0 CLINT GWIN PRESIDENT AND CEO 60.00 X 368200 0 13027 HANK HELTON EXECUTIVE VICE PRESIDENT 60.00 X 243483 0 20814 BARBARA HARRIS EXECUTIVE VICE PRESIDENT AND CFO 60.00 X 238547 0 15518 AMY BUNTON EXECUTIVE VICE PRESIDENT AND COO 60.00 X 238344 0 18958 JOE AGNETTA SVP, CHIEF CREDIT OFFICER 50.00 X 185088 0 13259 DANIEL WILSON SVP OF LENDING OPERATIONS 50.00 X 144094 0 8088 ROBERT LANCASTER DIRECTOR OF ADVISORY SERVI 50.00 X 128104 0 5837 PAUL HOFFMAN SVP, DIRECTOR OF POLICY AND IMPACTS 50.00 X 120916 0 10473 LORI ROCHELLE SVP OF CORPORATE OPERATIONS 50.00 X 120381 0 15432 LESLIE HAYES SVP OF EDUCATION 50.00 X 118447 0 15520 1905604 0 136926 16 0 1 0 ACUMENT TECHNOLOGY PO BOX 24989 NASHVILLE TN 37202 TECHNOLOGY SUPPORT AND EQUIPMENT 151301 BAKER DONELSON BEARMAN CALDWELL & BER 165 MADISON AVE SUITE 2000 MEMPHIS TN 38103 LEGAL SERVICES 139894 2 5582156 951550 6533706 LOAN INTEREST 900099 6351698 6351698 FINANCING FEES AND CHARGES 900099 373922 373922 FEE INCOME 900099 123584 123584 6849204 682455 682455 67779 131788 -64009 -64009 -50113 -13896 14001356 7531659 -50113 -13896 1355239 962685 392464 90 3242537 3101668 139091 1778 69367 68838 484 45 198675 179651 18930 94 306546 271102 35318 126 189522 189522 34378 30940 3438 625370 587112 38258 10301 9991 310 180464 169652 10812 137382 125606 11776 236358 234043 1950 365 161338 156519 4819 2427965 2426555 1410 86396 77824 8572 118780 106910 11870 FORECLOSURE CARRYING CO 408209 408209 LOAN LOSS PROVISION REC 313318 313318 DUES, LICENSES & PERMIT 42341 40018 2323 MISCELLANEOUS 35358 34053 1305 10179844 9494216 683130 2498 590100 6959654 53890136 65832932 2302645 1101697 557689 625677 44871 95283671 108899230 175724 167467 3926867 710656 1517039 3216211 164300 249000 1078663 1155465 155604838 188207333 1282084 1467215 5000 100821 12435091 50290816 86030577 67443715 27310461 36541629 127063213 155844196 X 26099969 30523935 2441656 1839202 28541625 32363137 155604838 188207333 3821512 0 X X 0 1 X 1 1 1 X 3225797 1439642 9866564 6037623 6533706 27103332 3225797 1439642 9866564 6037623 6533706 27103332 2448799 24654533 27103332 28420484 0.90960 0.90480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3642180 557745 3084435 284687 152911 131776 3216211 LINES OF CREDIT 36211861 UNAMORTIZED LOAN ORIGINATION FEES 329768 36541629 X 14170893 37749 131788 169537 14001356 0 14001356 10349381 37749 131788 169537 10179844 0 10179844 PART X, LINE 2: MANAGEMENT PERFORMS AN EVALUATION OF ALL INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CORPORATION'S INCOME TAX RETURNS TO DETERMINE WHETHER THE INCOME TAX POSITIONS MEET A "MORE LIKELY THAN NOT" STANDARD OF BEING SUSTAINED UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS PERFORMED ITS EVALUATION OF ALL INCOME TAX POSITIONS TAKEN ON ALL OPEN INCOME TAX RETURNS AND HAS DETERMINED THAT THERE WERE NO POSITIONS TAKEN THAT DO NOT MEET THE "MORE LIKELY THAN NOT" STANDARD. ACCORDINGLY, THERE IS NO PROVISION FOR INCOME TAXES, PENALTIES OR INTEREST RECEIVABLE OR PAYABLE RELATING TO UNCERTAIN INCOME TAX POSITIONS IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 131,788. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 131,788. X X X X 0 0 0 0 0 0 0 0 0 CLINT GWIN PRESIDENT AND CEO 284665 0 83535 0 0 0 11197 0 1830 0 381227 0 0 0 HANK HELTON EXECUTIVE VICE PRESIDENT 203767 0 39716 0 0 0 10022 0 10792 0 264297 0 0 0 BARBARA HARRIS EXECUTIVE VICE PRESIDENT AND CFO 199686 0 38861 0 0 0 9806 0 5712 0 254065 0 0 0 AMY BUNTON EXECUTIVE VICE PRESIDENT AND COO 198628 0 39716 0 0 0 8171 0 10787 0 257302 0 0 0 JOE AGNETTA SVP, CHIEF CREDIT OFFICER 168864 0 16224 0 0 0 7639 0 5620 0 198347 0 0 0 DANIEL WILSON SVP OF LENDING OPERATIONS 131448 0 12646 0 0 0 2600 0 5488 0 152182 0 0 0 ANDRE GIST DIRECTOR OF THE ORGANIZATION LOAN TO MIG, A COMPANY MAJORITY OWNED BY ANDRE GIST. X 154790 0 1 1 HUGH QUEENER DIRECTOR OF THE ORGANIZATION 566451 INTEREST PAID ON NOTE PAYABLE: MR. QUEENER IS THE EXECUTIVE VICE PRESIDENT AND CHIEF ADMINISTRATIVE OFFICER FOR PINNACLE BANK AND WAS INVOLVED WITH THE LOAN ON THE BUILDINGS AND IN THE NOTES PAYABLE IN TNROF, KCTJF, NOF AND TNSBJOF. THE TRANSACTIONS DURING THE YEAR INVOLVED INTEREST PAYMENTS MADE TO THE BANK UNDER THE NORMAL COURSE OF BUSINESS; NO PERSONAL GAIN OR PAYMENTS WERE MADE TO MR. QUEENER. 0 HUGH QUEENER DIRECTOR OF THE ORGANIZATION 335868 BANK ACCOUNTS HELD AT BANK: MR. QUEENER IS THE EXECUTIVE VICE PRESIDENT AND CHIEF ADMINISTRATIVE OFFICER FOR PINNACLE BANK WHERE SOUTHEAST COMMUNITY CAPITAL MAINTAINS INTEREST BEARING ACCOUNTS AND RECEIVED INTEREST IN THE NORMAL COURSE OF DOING BUSINESS. 0 HUGH QUEENER DIRECTOR OF THE ORGANIZATION 179638 PRINCIPAL AND INTEREST PAYMENTS ON THE MORTGAGES ON THE BUILDINGS: MR. QUEENER IS THE EXECUTIVE VICE PRESIDENT AND CHIEF ADMINISTRATIVE OFFICER FOR PINNACLE BANK WHERE SOUTHEAST COMMUNITY CAPITAL MADE PRINCIPAL AND INTEREST PAYMENTS TO THE BANK IN THE NORMAL COURSE OF DOING BUSINESS. 0 JON DAVIES DIRECTOR OF THE ORGANIZATION 410897 INTEREST PAID ON LOAN: MR. DAVIES IS THE SENIOR VICE PRESIDENT/COMPLIANCE EXECUTIVE, COMMUNITY AFFAIRS AND CONTRIBUTIONS FOR REGIONS FINANCIAL CORPORATION AND WAS INVOLVED WITH THE LOAN RECEIVED BY SOUTHEAST COMMUNITY CAPITAL. THE TRANSACTIONS DURING THE YEAR INVOLVED INTEREST PAYMENTS MADE TO THE BANK UNDER THE NORMAL COURSE OF BUSINESS; NO PERSONAL GAIN OR PAYMENTS WERE MADE TO MR. DAVIES. 0 HUGH QUEENER DIRECTOR OF THE ORGANIZATION 125000 PRINCIPAL FORGIVEN ON NOTE PAYABLE: MR. QUEENER IS THE EXECUTIVE VICE PRESIDENT AND CHIEF ADMINISTRATIVE OFFICER FOR PINNACLE BANK WHERE SOUTHEAST COMMUNITY CAPITAL HAD TN-ROF NOTES PAYABLE FORGIVEN DUE TO THE 10 YEAR ANNIVERSARY OF THE TN-ROF LOANS WHICH OCCURRED UNDER THE NORMAL COURSE OF BUSINESS. 0 FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT AND CFO REVIEW THE 990 BEFORE IT IS FILED WITH THE IRS. THEY COMPARE EACH LINE ITEM TO THE PRIOR YEAR FORM 990 AS WELL AS COMPARABLE FORM 990S FOR OTHER NOT-FOR-PROFIT ENTITIES. THE CURRENT YEAR FORM IS ALSO RECONCILED TO THE CURRENT YEAR FINANCIAL STATEMENTS. THE FORM 990 IS PRESENTED TO ALL BOARD MEMBERS BEFORE IT IS FILED FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C ALL NEW EMPLOYEES ARE GIVEN AND REQUIRED TO SIGN AN EMPLOYEE HANDBOOK UPON HIRING. IT ADDRESSES A CODE OF CONDUCT INCLUDING A CONFLICT OF INTEREST STATEMENT AND A WHISTLEBLOWER POLICY. EACH EMPLOYEE IS ALSO REQUIRED TO SIGN ANNUALLY A STATEMENT THAT THEY HAVE NO CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 SCC HAS A COMPENSATION COMMITTEE THAT MEETS AS NEEDED TO SET THE SALARIES OF THE PRESIDENT, SENIOR VICE PRESIDENTS, AND THE CHIEF FINANCIAL OFFICER. THE PRESIDENT WAS GIVEN DISCRETIONARY POWERS TO SET THE SALARIES OF ALL OTHER PERSONNEL AND TO GIVE THE BOARD AN OVERVIEW OF THOSE DECISIONS. THE PRESIDENT WAS ALSO GIVEN THE AUTHORITY TO INCREASE SALARIES WITHIN SET PARAMETERS FOR THE SVP AND CFO. ALL SALARIES ARE DISCLOSED TO THE COMMITTEE. A COMPENSATION POLICY WAS PUT INTO EFFECT ON 01/16/2008 IN ORDER TO COMPLY WITH INTERNAL REVENUE CODE SECTION 4958. WHEN THE SALARIES ARE PUT IN PLACE FOR ALL EMPLOYEES, A COMPARISON WITH OTHER SIMILAR ORGANIZATONS IS MADE AND REVIEWED BY THE COMMITTEE. THE SALARIES ARE COMPILED FROM TAX RETURNS OF OTHER 990 ORGANIZATIONS THAT ARE PUBLISHED WITH GUIDESTAR. SALARY INQUIRIES OF SIMILAR JOBS ARE REVIEWED ON CAREERBUILDER AND SALARY.COM AND OTHER FORMAL SALARY SURVEYS. FORM 990, PART VI, SECTION C, LINE 19 SCC MAINTAINS A WEBSITE AT WWW.PATHWAYLENDING.ORG WHERE THE PUBLIC IS GIVEN A CONTACT NAME FOR FURTHER INFORMATION REGARDING AVAILABILITY OF DISCLOSURES. THE 990 IS ALSO AVAILABLE ON THE GUIDESTAR WEBSITE. FORM 990, PART VII, SECTION B AS PART OF THEIR LOAN PROGRAM, PATHWAY SOMETIMES REMITS PAYMENTS TO CERTAIN THIRD PARTY CREDITORS ON BEHALF OF THE LOAN CLIENT AS PART OF THE SERVICING OF THE LOAN OR AT THE TIME OF THE LOAN CLOSING. THESE CREDITORS THEN RECEIVE A FORM 1099 MISC FROM PATHWAY FOR SERVICES RENDERED TO THE LOAN CLIENT, NOT FOR SERVICES RENDERED TO PATHWAY. THUS, PATHWAY DOES NOT LIST THOSE CREDITORS AS PAYMENTS FOR SERVICES ON FORM 990, PART VII, SECTION B. PATHWAY MEMPHIS LLC 201 VENTURE CIRCLE NASHVILLE TN 37228 EXPAND OPERATIONS OF PATHWAY LENDING IN THE MEMPHIS, TN AREA TN -164 500000 SOUTHEAST COMMUNITY CAPITAL CORPORATION