2018-05-11T17:19:42-05:00 2017-12-31 620713250 KRAFTCPAS PLLC 555 GREAT CIRCLE ROAD NASHVILLE TN 37228 990 2017-01-01 621823596 SOUTHEAST COMMUNITY CAPITAL CORPORATION D/B/A PATHWAY LENDING SOUT 6154257171 201 VENTURE CIRCLE NASHVILLE TN 37228 CLINT GWIN PRESIDENT 6152546113 2018-05-11 1 FRANCES E LEAHY P00713593 6152427351 2018-05-11 2017 2022-09-23 18:48:47Z CLINT GWIN 201 VENTURE CIRCLE NASHVILLE TN 37228 15434507 0 X WWW.PATHWAYLENDING.ORG X 1999 TN PROVIDING UNDERSERVED SMALL BUSINESSES WITH LENDING SOLUTIONS AND EDUCATIONAL SERVICES THAT PROVIDE JOB CREATION AND ECONOMIC DEVELOPMENT. PROVIDING ENERGY EFFICIENY LOANS AND ENERGY EDUCATION TO HELP PRESERVE ENERGY RESOURCES FOR FUTURE GENERATIONS. 9 6 33 30 0 0 1439642 9866564 4725540 5404133 97455 163810 0 0 6262637 15434507 0 0 0 0 2867489 3423434 0 0 17652 3720945 5436801 6588434 8860235 -325797 6574272 118072452 137085479 95406715 107845470 22665737 29240009 X TO PROVIDE LENDING SOLUTIONS AND EDUCATIONAL SERVICES THAT SUPPORT THE DEVELOPMENT, GROWTH, AND PRESERVATION OF UNDERSERVED BUSINESSES, AFFORDABLE HOUSING, AND SUSTAINABLE COMMUNITIES; TO HELP STIMULATE ECONOMIC DEVELOPMENT AND JOB CREATION THROUGH SMALL BUSINESS LENDING TO LOW INCOME, DISADVANTAGED AND START-UP COMPANIES THAT LACK ACCESS TO TRADITIONAL BANKING CREDIT; AND TO PROVIDE EDUCATIONAL SERVICES TO THESE SMALL BUSINESSES TO HELP THEM GROW AND ACHIEVE OR MAINTAIN SUSTAINABILITY. 0 0 6625520 5538316 LENDING PROGRAM: TARGET MARKETS INCLUDE BUSINESSES LOCATED IN QUALIFIED INVESTMENT AREAS (AS DEFINED BY LOW-INCOME CENSUS TRACTS, POVERTY RATES, AND UNEMPLOYMENT STATISTICS) AND AFRICAN AMERICAN OWNED BUSINESSES. SOUTHEAST COMMUNITY CAPITAL CORPORATION 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. SOUTHEAST COMMUNITY CAPITAL CORPORATION ALSO PROVIDES JOB CREATION AND REDUCES OPERATING COSTS FOR BUSINESSES BY PROVIDING ENERGY EFFICIENCY LOANS AND ENERGY EDUCATION TO SMALL BUSINESSES, MANUFACTURERS AND NON-PROFIT AGENCIES TO HELP PRESERVE ENERGY RESOURCES FOR FUTURE GENERATIONS. TOTAL ENERGY SAVINGS FROM THESE LOANS WERE $681,835 WITH 5,761,019 KWH SAVED AND 200,484 THERMS SAVED.FURTHER, SOUTHEAST COMMUNITY CAPITAL CORPORATION HELPS TO RETAIN AND GROW AFFORDABLE HOUSING BY PROVIDING LONG-TERM FINANCING FOR LOW INCOME HOUSING PROJECTS. THE FUNDS CAN BE USED TO ACQUIRE, CONSTRUCT, REHABILITATE OR REFINANCE MULTI-FAMILY HOUSING LOAN DEVELOPMENTS TO PROVIDE SAFE AND AFFORDABLE HOUSING. IN 2017, 316 UNITS WERE IMPACTED, WITH 195 UNITS RENOVATED AND 121 UNITS PRESERVED. THERE WERE TWO COMMUNITY FACILITIES LOANS; ONE IN DAYCARE THAT CREATED 50 DAYCARE SPOTS, AND FOUR IN EDUCATIONAL FACILITIES THAT RESULTED IN SUPPORT OF 2,580 STUDENTS. IN 2017, SOUTHEAST COMMUNITY CAPITAL CORPORATION MADE 142 NEW LOANS TOTALING $40,267,052, OF WHICH 83.54% OF THE DOLLAR AMOUNTS AND 70% OF THE NUMBER OF LOANS WERE TO AFRICAN AMERICANS, LOW TO MODERATE CENSUS TRACKS, OR LOW TO MODERATE INCOME CLIENTS. 2,553 JOBS WERE IMPACTED WITH 1,776 OF THEM IN THE TARGET MARKET. 1670984 29627 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. THE ASSISTANCE INCLUDES ACCESS TO FINANCIAL SERVICES, ACCESS TO CAPITAL NEEDS AND INCLUDES CLASSROOM EDUCATION, 1-ON-1 ASSISTANCE AND PEER LEARNING.SOUTHEAST COMMUNITY CAPITAL CORPORATION PROVIDED OVER 8,152 HOURS OF EDUCATION; 3,334 WERE IN CLASSROOM/EVENTS SETTINGS AND 4,819 WERE ONE-ON-ONE COUNSELING SESSIONS. THERE WERE 883 UNIQUE CLIENTS SERVED, WITH 42% OF THEM BEING AFRICAN AMERICAN, 73% WERE WOMEN, AND 39% WERE IN INVESTMENT QUALIFIED AREAS. THERE WERE 175 CLASSES/EVENTS SESSIONS CONDUCTED THAT FOCUSED ON ENTREPRENEURIAL EDUCATION IN AREAS SUCH AS CASH FLOW MANAGEMENT, FINANCIAL PREPARATION, REVENUE AND EXPENSE PROJECTIONS, ACCOUNTING SYSTEMS, AND MANAGEMENT. 8296504 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 63 0 1 33 1 0 0 0 0 0 0 0 0 0 0 X 9 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 SAM HOWARD TIL 417 DIRECTOR 1.50 X 0 0 0 HUGH QUEENER DIRECTOR 1.50 X 0 0 0 TOM HUNTER VICE CHAIRMAN 1.50 X X 0 0 0 JON DAVIES DIRECTOR 1.50 X 0 0 0 DAVE BEREZOV CHAIRMAN 1.50 X X 0 0 0 CINDY HERRON DIRECTOR 1.50 X 0 0 0 ANDRE GIST DIRECTOR 1.50 X 0 0 0 IVANETTA DAVIS-SAMUELS DIRECTOR 1.50 X 0 0 0 KELLY MAGILL DIRECTOR 1.50 X 0 0 0 HERB BYRD III DIRECTOR 1.50 X 0 0 0 CLINT GWIN PRESIDENT 60.00 X 363842 0 12584 HANK HELTON SENIOR VICE PRESIDENT 60.00 X 237387 0 21560 AMY BUNTON SENIOR VICE PRESIDENT 60.00 X 232620 0 20261 BARBARA HARRIS CFO 60.00 X 220978 0 16086 JOE AGNETTA CHIEF CREDIT OFFICER 50.00 X 178571 0 14415 DANIEL WILSON SVP OF LENDING OPERATIONS 50.00 X 137129 0 9682 ROBERT LANCASTER DIRECTOR OF ADVISORY SERVI 50.00 X 118937 0 5257 LORRAINE BIGGS CONTROLLER 50.00 X 104541 0 11225 PAUL HOFFMAN DIRECTOR OF POLICY AND IMPACTS 50.00 X 108144 0 11448 1702149 0 122518 4 0 1 0 ADVANCED NETWORK SOLUTIONS PO BOX 40686 NASHVILLE TN 37204 TECHNOLOGY SUPPORT AND EQUIPMENT 104659 1 3485304 6381260 2842 9866564 LOAN INTEREST 900099 4993588 4993588 FINANCING FEES AND CHARGES 900099 321995 321995 FEE INCOME 900099 88550 88550 5404133 163810 163810 15434507 5567943 0 0 1125317 700321 410995 14001 1901999 1874111 26142 1746 58341 58267 57 17 150097 133871 15811 415 187680 160467 26275 938 67707 65667 2040 32926 29633 3293 499511 482574 16621 316 14985 14979 6 327748 320559 7189 115993 105355 10638 147200 146399 782 19 131618 128840 2778 1351217 1350841 376 72378 65199 7179 128091 115312 12779 LOAN LOSS PROVISION REC 2437250 2437250 MISCELLANEOUS 72994 71819 1175 DUES, LICENSES & PERMIT 36157 34117 1840 200 EQUIPMENT MAINTENANCE 1026 923 103 8860235 8296504 546079 17652 1719117 804996 39899583 46114124 310768 2639553 386872 453049 122384 77827 73493697 84862885 114201 113152 2165290 629933 1575165 1535357 450665 484536 118072452 137085479 1306422 1718494 5000 5000 17156910 12847979 56047718 66979354 20890665 26294643 95406715 107845470 X 22205958 28595723 459779 644286 22665737 29240009 118072452 137085479 6574272 0 X X 0 1 X 1 1 1 X 4882541 4881676 3225797 1439642 9866564 24296220 4882541 4881676 3225797 1439642 9866564 24296220 1548532 22747688 24296220 19936102 0.93630 0.97220 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1912969 430902 1482067 252321 199031 53290 1535357 LINES OF CREDIT 26000000 NET UNAMORTIZED LOAN FEES 294643 26294643 X 15458629 24122 24122 15434507 0 15434507 8884357 24122 24122 8860235 0 8860235 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. X X X X 0 0 0 0 0 0 0 0 0 CLINT GWIN PRESIDENT 256958 0 106884 0 0 0 10800 0 1784 0 376426 0 0 0 HANK HELTON SENIOR VICE PRESIDENT 186704 0 50683 0 0 0 9461 0 12099 0 258947 0 0 0 AMY BUNTON SENIOR VICE PRESIDENT 181937 0 50683 0 0 0 8162 0 12099 0 252881 0 0 0 BARBARA HARRIS CFO 173914 0 47064 0 0 0 8785 0 7301 0 237064 0 0 0 JOE AGNETTA CHIEF CREDIT OFFICER 159785 0 18786 0 0 0 7114 0 7301 0 192986 0 0 0 ANDRE GIST DIRECTOR OF THE ORGANIZATION LOAN TO MIG, A COMPANY MAJORITY OWNED BY ANDRE GIST. X 154790 77827 0 1 1 77827 HUGH QUEENER DIRECTOR OF THE ORGANIZATION 184305 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 BUILDING 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 33249 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 123968 PRINCIPAL PAYMENT ON THE MORTGAGE ON THE BUILDING: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 266795 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 850000 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 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. FORM 990, PART XII, LINE 2C THE PROCESS IS THE SAME AS IN THE PRIOR YEAR.