2018-11-05T16:17:40-06:00 2017-12-31 570381582 ELLIOTT DAVIS LLCPLLC 1901 MAIN STREET SUITE 900 COLUMBIA SC 29201 990 2017-01-01 541754009 VIRGINIA COMMUNITY CAPITAL INC VIRG 5402603126 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 CLYDE A CORNETT JR CFO 5402603126 2018-10-31 1 DENISE P HILL P00046615 8032560002 2018-10-31 24.181.201.165 2018-10-31 15:12:55 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 CFCC4CE1FF0796F5ABEFEAFDEA84C93B0700F7F4 2017 2019-02-21 02:37:17Z JANE HENDERSON PRESIDENT 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 6296292 0 X WWW.VACOMMUNITYCAPITAL.ORG X 1995 VA OUR MISSION IS TO OFFER INNOVATIVE, FLEXIBLE FINANCIAL PRODUCTS DESIGNED TO SUPPORT HOUSING AND COMMUNITY DEVELOPMENT VENTURES, INCREASE JOBS AND BUILD SUSTAINABLE COMMUNITIES. VCC OFFERS LOAN CAPITAL THAT IS BROADER THAN BANK LENDING TO PROJECTS THAT HAVE A POSITIVE IMPACT IN LOW- TO MODERATE-INCOME COMMUNITIES IN UNDERSERVED GEOGRAPHIES AND MARKETS IN UNDERSERVED GEOGRAPHIES AND MARKETS. 10 9 73 0 0 0 3704247 4133475 1529192 1707872 0 0 73485 454945 5306924 6296292 0 0 0 0 2175890 2405404 0 0 0 2643761 2875246 4819651 5280650 487273 1015642 57664923 69370825 32925719 43043399 24739204 26327426 X OUR MISSION IS TO OFFER INNOVATIVE, FLEXIBLE FINANCIAL PRODUCTS DESIGNED TO SUPPORT HOUSING AND COMMUNITY DEVELOPMENT VENTURES, INCREASE JOBS AND BUILD SUSTAINABLE COMMUNITIES. VCC OFFERS LOAN CAPITAL THAT IS BROADER THAN BANK LENDING TO PROJECTS THAT HAVE A POSITIVE IMPACT IN LOW- TO MODERATE-INCOME COMMUNITIES IN UNDERSERVED GEOGRAPHIES AND MARKETS. 0 0 3902228 2162817 AID COMMUNITY DEVELOPMENT BY PROVIDING LOANS, LOAN GUARANTEES AND OTHER FORMS OF DEBT OR EQUITY FINANCING FOR COMMUNITY AND BUSINESS ORGANIZATIONS, AS WELL AS TO PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO BUSINESS OWNERS AND MANAGERS 3902228 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 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 0 0 73 1 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X CLYDE A CORNETT JR - CFO 5402603126 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 DIXON HANNA DIRECTOR 2.00 2.00 X 0 7750 0 FLORENCE KINGSTON DIRECTOR 2.00 2.00 X 0 12500 0 JAMES W HARKNESS JR DIRECTOR 2.00 2.00 X 0 9250 0 ALVIN SMUZYNSKI DIRECTOR 2.00 2.00 X 0 13050 0 CHARLIE H MILLS III DIRECTOR 2.00 2.00 X 0 7550 0 MARY DWYER PEMBROKE DIRECTOR 2.00 2.00 X 4300 0 0 ROBERT H GILLIAM JR DIRECTOR 2.00 2.00 X 0 10050 0 CATHY DOLAN DIRECTOR 2.00 2.00 X 0 1500 0 WILLIAM C SHELTON DIRECTOR 2.00 2.00 X 0 0 0 JANE HENDERSON CEO & PRESIDENT, VCC, INC. 28.00 12.00 X X 263249 0 22400 CLYDE CORNETT JR CHIEF FINANCIAL OFFICER & EVP 28.00 12.00 X 171247 0 18000 WAYNE WALDROP PRESIDENT, VCC LENDING & COMMUNITY IMPACT 12.80 27.20 X 180471 0 13853 TERI LOVELACE PRESIDENT OF LOCUS 0.00 40.00 X 174811 0 22400 EDWARD CHIN CHIEF RISK OFFICER 20.00 20.00 X 142362 0 3600 BELINDA TUCKER CHIEF OPERATING OFFICER 12.80 27.20 X 142347 0 1350 ROBERTA DOUMA CHIEF HUMAN CAPITAL OFFICER 21.00 19.00 X 97402 0 4000 THRESA JOYCE SENIOR LOAN OFFICER 12.80 27.20 X 117066 0 5050 WILLIAM GREENLEAF SENIOR LOAN OFFICER 12.80 27.20 X 120097 0 0 DONALD MACKE SENIOR VP CRE 1.00 39.00 X 153230 0 12000 DEBORAH MARKLEY SENIOR VP CRE 1.00 39.00 X 155027 0 12000 ZACHARY PETRY SENIOR LOAN OFFICER 12.80 27.20 X 100458 0 3400 1822067 61650 118053 11 0 1 0 KUTAK ROCK LLP PO BOX 30057 OMAHA NE 681031157 LEGAL SERVICES 187305 SPOTTS FAIN PO BOX 1555 RICHMOND VA 232181555 LEGAL SERVICES 121520 WILLIAMS MULLEN PO BOX 800 RICHMOND VA 232180800 LEGAL SERVICES 109038 IMPERIAL REAL ESTATE HOLDING DBA CAROUSE PO BOX 13470 RICHMOND VA 23225 RENTAL SERVICES 106824 4 3729905 403570 4133475 LOAN INTEREST 525990 1663281 1663281 PROGRAM RELATED INVEST 525990 44591 44591 1707872 MISCELLANEOUS REVENUE 525990 454945 454945 454945 6296292 2162817 0 0 X 1176189 708301 467888 850252 512022 338230 55368 33343 22025 186082 112059 74023 137513 82810 54703 41806 25176 16630 69530 41871 27659 266005 160188 105817 45526 27416 18110 161255 97108 64147 709533 709533 180711 108824 71887 PROVISION FOR LOAN LOSS 740922 740922 0 LOAN PROGRAM SERVICES 365078 365078 0 OTHER EXPENSES 294880 177577 117303 5280650 3902228 1378422 0 4384431 3652618 634421 1054924 34046334 38654144 4021916 402622 323045 3619294 253955 255375 16665194 19600850 1124840 1125348 232703 1408272 57664923 69370825 313740 726511 2451972 6434338 26902393 32672170 3257614 3210380 32925719 43043399 X 22206037 21875851 541592 2460000 1991575 1991575 24739204 26327426 57664923 69370825 X 1015642 572579 X 0 1 X 1 0 X 1585274 2178437 2621138 3704247 4133475 14222571 1585274 2178437 2621138 3704247 4133475 14222571 929647 13292924 14222571 9415192 0.93460 0.90810 X 2700000 2700000 513657 20831 492826 808259 381791 426468 3619294 INVESTMENT IN SUBSIDIARY 19600850 C 19600850 MINORITY INTEREST IN SUBSIDIARY 3210380 3210380 X PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER IRC SECTION 501(C)(3). TAX YEARS 2013 THROUGH 2017 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE ORGANIZATION HAS ANALYZED THE TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN ITS TAX RETURNS AND HAS CONCLUDED IT HAS NO LIABILITY RELATED TO UNCERTAIN TAX POSITIONS. X X 0 0 0 0 0 0 0 0 0 JANE HENDERSON CEO & PRESIDENT, VCC, INC. 263249 0 0 0 0 0 0 0 22400 0 285649 0 0 0 CLYDE CORNETT JR CHIEF FINANCIAL OFFICER & EVP 171247 0 0 0 0 0 0 0 18000 0 189247 0 0 0 WAYNE WALDROP PRESIDENT, VCC LENDING & COMMUNITY I 180471 0 0 0 0 0 0 0 13853 0 194324 0 0 0 TERI LOVELACE PRESIDENT OF LOCUS 174811 0 0 0 0 0 0 0 22400 0 197211 0 0 0 DONALD MACKE SENIOR VP CRE 153230 0 0 0 0 0 0 0 12000 0 165230 0 0 0 DEBORAH MARKLEY SENIOR VP CRE 155027 0 0 0 0 0 0 0 12000 0 167027 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE COMPLETED 990 WILL BE PROVIDED TO THE ORGANIZATION PRIOR TO THE FILING DEADLINE. THE RETURN WILL NOT BE PROVIDED TO THE BOARD PRIOR TO SIGNING BUT IT WILL BE REVIEWED BY THE PRESIDENT AND CFO, WHO ARE ENTRUSTED BY THE BOARD FOR THEIR REVIEW, PRIOR TO THE RETURN BEING SIGNED BY THE CFO. FORM 990, PART VI, SECTION B, LINE 12C AT LEAST ANNUALLY, OFFICERS, AND DIRECTORS ARE REQUIRED TO REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY, WHICH CONTAINS A DUTY TO DISCLOSE CLAUSE. THESE ARE REVIEWED BY THE PRESIDENT. ANY ISSUES IDENTIFIED ARE INVESTIGATED AND DISCUSSED WITH THE CFO FOR FINANCIAL REPORTING OR REGULATORY/COMPLIANCE IMPACT. IN THE EVENT OF A POTENTIAL CONFLICT, THAT PERSON WILL RECUSE THEMSELVES FROM ALL DISCUSSION AND/OR VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 MANAGEMENT UTILIZES THE VBA ANNUAL SALARY SURVEY AS A GUIDELINE FOR DETERMINING MARKET FOR BANK EXECUTIVES AND STAFF. MANAGEMENT THEN PASSES THIS INFO UP TO THE HUMAN RESOURCES/COMPENSATION COMMITTEE FOR FURTHER REVIEW AND APPROVAL. ALL DISCUSSIONS ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED ON THE WEBSITE. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 160,188. MANAGEMENT AND GENERAL EXPENSES 105,817. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 266,005. FORM 990, PART XI, LINE 9: INCOME/(LOSS) OF BANK SUBSIDIARY 807,658. INCOME/(LOSS) IN OTHER COMPREHENSIVE INCOME 110,824. SUBSIDIARY DIVIDENDS PAID -127,000. GAIN ON ABSORBTION OF SUBSIDIARY 381,287. CAPITAL DOWNSTREAM TO NON-BANK SUBSIDIARY 185,000. CHANGE IN EQUITY FROM UNDISTRIBUTED LOSS OF NON- BANK SUBSIDIARIES -814,857. RECLASSIFICATION OF NET ASSETS DUE TO TAX RATE CHANGE 29,667. FORM 990, PART IX, LINES 5 - 10 ALL OFFICER COMPENSATION IS PAID AND REPORTED BY VIRGINIA COMMUNITY CAPITAL ON FORM W2 AND HAS BEEN REPORTED ON FORM 990, PART VII, LINE 1A. THE SUBSIDIARIES OF VIRGINIA COMMUNITY CAPITAL REIMBURSE VIRGINIA COMMUNITY CAPITAL FOR UTILIZING THE SAME STAFF. THIS REIMBURSEMENT HAS BEEN TREATED AS A REDUCTION OF SALARY RELATED EXPENSES REPORTED ON LINES 5 - 10 OF PART IX. RIVER CITY REAL ESTATE LLC 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 352448562 FORECLOSED REAL ESTATE HOLDING VA -82975 945199 VIRGINIA COMMUNITY CAPITAL INC CENTER FOR RURAL ENTREPRENEURSHIP 421 S 9 ST STE 245 LINCOLN NE 68508 263114011 TO SUPPORT ENTREPRENEURSHIP DEVELOPMENT IN BUILDING RURAL ECONOMIES. NE 501(C)(3) LINE 10 VIRGINIA COMMUNITY CAPITAL INC 0 LOCUS FOUNDATION 100 WEST FRANKLIN STREET STE 200 RICHMOND VA 23220 814808731 TO SUPPORT AND AID COMMUNITY AND ECONOMIC DEVELOPMENT. VA 501(C)(3) LINE 7 VIRGINIA COMMUNITY CAPITAL INC 0 VCC BANK AND SUBSIDIARY 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 20473 260719551 COMMUNITY DEVELOPMENT BANK VA VIRGINIA COMMUNITY CAPITAL INC C 6829357 167420030 0.99670 0 LOCUS CAPITAL INC 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 20473 814812627 INVESTMENT ADVICE VA VIRGINIA COMMUNITY CAPITAL INC C 193000 170743 1.00000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 VCC BANK AND SUBSIDIARY A 254 SAVINGS INTEREST VCC BANK AND SUBSIDIARY A 60833 LOAN PARTICIPATION INTEREST VCC BANK AND SUBSIDIARY N 190118 OCCUPANCY AND EQUIPMENT EXPENSE VCC BANK AND SUBSIDIARY O 1867907 SALARIES EXPENSE VCC BANK AND SUBSIDIARY Q 1052102 NON-INTEREST EXPENSE LOCUS CAPITAL INC N 4536 RENT EXPENSE LOCUS CAPITAL INC O 207421 SALARIES EXPENSE LOCUS CAPITAL INC Q 50600 NON-INTEREST EXPENSE CENTER FOR RURAL ENTREPRENEURSHIP N 4536 RENT EXPENSE CENTER FOR RURAL ENTREPRENEURSHIP O 541408 SALARIES EXPENSE CENTER FOR RURAL ENTREPRENEURSHIP Q 59163 NON-INTEREST EXPENSE LOCUS FOUNDATION N 4536 RENT EXPENSE LOCUS FOUNDATION O 185318 SALARIES EXPENSE LOCUS FOUNDATION Q 40506 NON-INTEREST EXPENSE