2014-05-14T15:25:10-05:00 2013-12-31 620713250 KRAFTCPAS PLLC 555 GREAT CIRCLE ROAD NASHVILLE TN 37228 990 2013-01-01 621823596 SOUTHEAST COMMUNITY CAPITAL CORPORATION D/B/A PATHWAY LENDING SOUT 6154257184 201 VENTURE CIRCLE NASHVILLE TN 37228 CLINT GWIN PRESIDENT 6152546113 2014-05-14 1 KEVIN DOSTALER P01269951 6152427351 2014-05-13 2013 2015-11-30 17:44:51Z CLINT GWIN 201 VENTURE CIRCLE NASHVILLE TN 37228 7723961 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 9 28 0 0 0 7756898 4882541 2118846 2728846 224526 107574 0 5000 10100270 7723961 0 0 0 0 2259808 2437770 0 0 0 2346029 2967568 4605837 5405338 5494433 2318623 61494398 69480304 43592957 49260240 17901441 20220064 X TO 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. TO PROVIDE TECHNICAL ASSISTANCE TO CLIENTS WHO NEED BUSINESS COUNSELING AND EDUCATION IN AREAS SUCH AS CASH FLOW MANAGEMENT, FINANCIAL PREPARATION, REVENUE AND EXPENSE PROJECTIONS, ACCOUNTING SYSTEMS, AND MANAGEMENT. TO EDUCATE THE GENERAL PUBLIC ABOUT ENERGY SAVINGS. SOUTHEAST COMMUNITY CAPITAL CORPORATION MADE 64 NEW LOANS TOTALING $16,927,381, OF WHICH 71% WERE TO MINORITY, WOMEN, LOW TO MODERATE CENSUS TRACKS OR LOW TO MODERATE INCOME CLIENTS. 0 0 5120971 0 2841420 LENDING PROGRAMS: PROVIDE SMALL BUSINESSES WITH ACCESS TO FINANCIAL SERVICES, INCLUDING EDUCATIONAL AND TECHNICAL ASSISTANCE. 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), TENNESSEE RURAL OPPORTUNITY FUND, TENNESSEE ENERGY EFFICIENCY INITIATIVE AND TENNESSEE SMALL BUSINESS JOB OPPORTUNITY FUND, ETC. IN 2013, SOUTHEAST COMMUNITY CAPITAL CORPORATION MADE 64 LOANS TOTALING $16,927,381, OF WHICH $12,506,634 WERE IN COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS QUALIFIED UNDERSERVED CLIENTS. SOUTHEAST COMMUNITY CAPITAL CORPORATION ALSO PROVIDED OVER 6,000 HOURS OF TECHNICAL ASSISTANCE, INCLUDING ONE-ON-ONE COUNSELING AND GROUP TRAINING. 5120971 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 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 99 0 1 28 1 0 0 0 0 0 0 0 0 0 0 X 9 9 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 6154257184 201 VENTURE CIRCLE NASHVILLE TN 37228 JIM CARTER CHAIRMAN 3.00 X 0 0 0 MARY NEIL PRICE DIRECTOR 3.00 X 0 0 0 SAM HOWARD DIRECTOR 3.00 X 0 0 0 HUGH QUEENER DIRECTOR 3.00 X 0 0 0 TOM ROGERS DIRECTOR 3.00 X 0 0 0 JOY FISHER DIRECTOR 3.00 X 0 0 0 DAVE BEREZOV DIRECTOR 3.00 X 0 0 0 BOB BALZAR DIRECTOR 3.00 X 0 0 0 MILDRED WALTERS DIRECTOR 3.00 X 0 0 0 CLINT GWIN PRESIDENT 60.00 X 256528 0 13798 HANK HELTON SENIOR VICE PRESIDENT 60.00 X 186253 0 11708 AMY BUNTON SENIOR VICE PRESIDENT 60.00 X 193433 0 10904 BARBARA HARRIS CFO 60.00 X 165987 0 12499 JON STURGEON BUSINESS DEVELOPMENT MGR 40.00 X 139635 0 4400 JOHN BURTCHAELL JR CHIEF CREDIT OFFICER 32.00 X 114889 0 10023 DANIEL WILSON SVP OF LENDING OPERATIONS 50.00 X 126314 0 7780 ROBERT LANCASTER DIRECTOR OF ADVISORY SERVICES 40.00 X 102981 0 9539 1286020 0 80651 8 0 1 0 0 4772314 110227 4882541 LOAN INTEREST 900099 2487965 2487965 FINANCING FEES AND CHA 900099 127632 127632 MANAGEMENT FEES 900099 113249 113249 2728846 107574 107574 SUBSCRIPTION REVENUE 900099 5000 5000 5000 7723961 2841420 0 0 X 851110 721118 129992 1267346 1233751 33595 24212 24212 147016 146157 859 148086 144539 3547 53081 52957 124 255716 246997 8719 851940 828828 23112 19022 16532 2490 260156 241714 18442 97007 82905 14102 116075 110683 5392 334652 329023 5629 781836 780102 1734 67175 55374 11801 67777 54281 13496 CROET GRANT PAYBACK 190636 190636 MISCELLANEOUS 72715 72227 488 TELECOMMUNICATIONS 48840 42372 6468 DUES, LICENSES & PERMIT 25608 23037 2571 -274668 -276474 1806 5405338 5120971 284367 0 8008397 4792572 23292851 27300561 10267 31204 150909 215298 28430926 35496815 56106 58017 1985872 403515 1528902 1582357 16040 3480 61494398 69480304 618094 538646 7404388 4566354 13211067 12752485 21734184 30384184 625224 1018571 43592957 49260240 X 17221841 19743123 679600 476941 17901441 20220064 61494398 69480304 2318623 0 X 0 1 X 1 1 1 X 2597890 9538418 6171407 7756898 4882541 30947154 4000 4000 2601890 9538418 6171407 7756898 4882541 30951154 30951154 30951154 9925641 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1763208 214212 1548996 1521 1521 0 221143 187782 33361 1582357 LINES OF CREDIT 700000 MANAGED FUNDS 106484 NET UNAMORTIZED LOAN FEES 212087 1018571 X 7533325 0 7533325 190636 190636 7723961 5214702 0 5214702 190636 190636 5405338 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 ARE NO PROVISIONS FOR INCOME TAXES, PENALTIES OR INTEREST RECEIVABLE OR PAYABLE RELATING TO UNCERTAIN INCOME TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: CROET GRANT PAYBACK 190,636. PART XII, LINE 4B - OTHER ADJUSTMENTS: CROET GRANT PAYBACK 190,636. X X X X 0 0 0 0 0 0 0 1 0 CLINT GWIN PRESIDENT 256528 0 0 0 0 0 8518 0 5280 0 270326 0 0 0 HANK HELTON SENIOR VICE PRESIDENT 186253 0 0 0 0 0 6428 0 5280 0 197961 0 0 0 AMY BUNTON SENIOR VICE PRESIDENT 193433 0 0 0 0 0 5624 0 5280 0 204337 0 0 0 BARBARA HARRIS CFO 165987 0 0 0 0 0 7219 0 5280 0 178486 0 0 0 PART I, LINE 7 THE ORGANIZATION PAID BONUS COMPENSATION BASED ON CERTAIN LEVELS OF ORGANIZATIONAL PERFORMANCE INCLUDING MAINTENANCE OF CDFI CERTIFICATION, COMPLIANCE WITH CDFI GOALS, AND MAINTENANCE OF EXEMPTION. HUGH QUEENER DIRECTOR OF THE ORGANIZATION 223618 INTEREST PAYMENTS TO BANK: MR. QUEENER WORKS FOR PINNACLE BANK AND WAS INVOLVED WITH THE LOAN ON THE BUILDING AND INVESTMENTS IN TNROF, KCTJF AND TN-EELP. 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 SAM HOWARD DIRECTOR OF THE ORGANIZATION 8530 LOAN TO COMPANY PARTLY OWNED: MR. HOWARD IS A MAJORITY OWNER OF MAMA TURNEY'S, A CLIENT COMPANY OF SOUTHEAST COMMUNITY CAPITAL. THE RELATIONSHIP IS FULLY DISCLOSED, AND MR. HOWARD DOES NOT PARTICIPATE AS A BOARD MEMBER IN ANY ACTIONS INVOLVING THIS CLIENT. THE LOAN WITH MAMA TURNEY'S ORIGINATED PRIOR TO MR. HOWARD JOINING THE BOARD OF SOUTHEAST COMMUNITY CAPITAL. 0 HUGH QUEENER DIRECTOR OF THE ORGANIZATION 81101 BANK ACCOUNTS HELD AT BANK: MR. QUEENER WORKS FOR PINNACLE BANK WHERE SOUTHEAST COMMUNITY CAPITAL MAINTAINS INTEREST BEARING ACCOUNTS AND RECEIVED INTEREST IN THE NORMAL COURSE OF DOING BUSINESS. 0 SAM HOWARD DIRECTOR OF THE ORGANIZATION 3353 LOAN TO COMPANY PARTLY OWNED: MR. HOWARD SERVES ON THE BOARD OF DIRECTORS AND HAS A 2% OWNERSHIP IN ARMOR CONCEPT, LLC, A CLIENT COMPANY OF SOUTHEAST COMMUNITY CAPITAL. THE RELATIONSHIP IS FULLY DISCLOSED, AND MR. HOWARD DOES NOT PARTICIPATE AS A BOARD MEMBER IN ANY ACTIONS INVOLVING THIS CLIENT. 0 FORM 990, PART VI, SECTION B, LINE 11 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 ALSO LOOKED AT 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 IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 770,847. MANAGEMENT AND GENERAL EXPENSES 10,552. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 781,399. OTHER: PROGRAM SERVICE EXPENSES 57,981. MANAGEMENT AND GENERAL EXPENSES 12,560. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 70,541.