2011-05-11T16:20:41-05:00 2010-12-31 KRAFTCPAS PLLC 555 GREAT CIRCLE ROAD NASHVILLE TN 37228 990 2010-01-01 621823596 SOUTHEAST COMMUNITY CAPITAL CORPORATION D/B/A PATHWAY LENDING SOUT 6154257171 201 VENTURE CIRCLE NASHVILLE TN 37228 CLINT GWIN 6152546113 2011-05-11 1 VALERIE SHELTON 6152427351 2011-05-11 2010 2016-03-07 17:11:31Z CLINT GWIN 201 VENTURE CIRCLE NASHVILLE TN 37228 11011777 0 X WWW.PATHWAYLENDING.ORG X 1999 TN TO STIMULATE ECONOMIC DEVELOPMENT AND JOB CREATION AND RETENTION THROUGH SMALL BUSINESS LENDING TO COMPANIES UNABLE TO ACCESS TRADITIONAL CAPITAL WITH AN EMPHASIS ON COMPANIES LOCATED IN LOW-INCOME COMMUNITIES, LOW-INCOME ENTREPRENEURS AND HISTORICALLY DISADVANTAGED BUSINESSES SUCH AS MINORITY-AND-WOMEN-OWNED BUSINESSES. SCC PROVIDES LOANS AND TECHNICAL ASSISTANCE SERVICES IN URBAN AND RURAL AREAS THROUGHOUT THE STATE OF TENNESSEE THROUGH THE TENNESSEE RURAL OPPORTUNITY FUND (TNROF) AND TENNESSEE SMALL BUSINESS JOB OPPORTUNITY FUND (TNSBJOF). FURTHER, SCC PROVIDES LOANS FOR ENERGY EFFICIENCY IMPROVEMENTS AND RENEWABLE ENERGY PROJECTS FOR COMPANIES IN TENNESSEE THROUGH THE TENNESSEE ENERGY EFFICIENCY LOAN PROGRAM (TN-EELP) TO HELP REDUCE OPERATING COSTS FOR COMPANIES, MAKING THEM MORE COMPETITIVE AND ABLE TO SUPPORT JOB CREATION AND RETENTION. 8 8 16 0 0 0 2597890 9538418 1147615 1358081 132371 115278 0 0 3877876 11011777 0 0 0 0 1184478 1244731 0 0 0 2161099 2732111 3345577 3976842 532299 7034935 25152672 53973651 23515421 45301465 1637251 8672186 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. AT DECEMBER 31, 2010, SOUTHEAST COMMUNITY CAPITAL CORPORATION HAD 128 OUTSTANDING LOANS TO SMALL, START-UP AND DISADVANTAGED BUSINESSES THAT LACK ACCESS TO TRADITIONAL BANKING CREDIT. 0 0 3542043 1473359 LENDING PROGRAMS: PROVIDE SMALL BUSINESSES WITH ACCESS TO FINANCIAL SERVICES, INCLUDING TECHNICAL ASSISTANCE (128 OUTSTANDING LOANS AT DECEMBER 31, 2010). 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.D.A. RURAL DEVELOPMENT, U.S. TREASURY DEPARTMENT CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI), AND TN RURAL OPPORTUNITY FUND, ETC. 3542043 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 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 0 1 15 0 1 16 1 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 TN X X BARBARA HARRIS 6154257184 201 VENTURE CIRCLE NASHVILLE TN 37228 JIM CARTER 3.00 X 0 0 0 MARY NEIL PRICE 3.00 X 0 0 0 SAM HOWARD 3.00 X 0 0 0 HUGH QUEENER 3.00 X 0 0 0 TOM ROGERS 3.00 X 0 0 0 JOY FISHER 3.00 X 0 0 0 KEN BREEDEN 3.00 X 0 0 0 DAVE BEREZOV 3.00 X 0 0 0 CLINT GWIN 60.00 X 218043 0 11713 HANK HELTON 60.00 X 170951 0 4920 AMY BUNTON 60.00 X 157838 0 11033 BARBARA HARRIS 60.00 X 114956 0 4920 661788 0 32586 4 0 1 0 0 9537218 1200 9538418 LOAN INTEREST 900099 1193056 1193056 FINANCING FEES AND CHA 900099 96305 96305 MANAGEMENT FEES 900099 68720 68720 1358081 115278 115278 11011777 1473359 0 0 694373 507559 186814 304436 297825 6611 4883 4777 106 167212 163581 3631 73827 72224 1603 133958 130872 3086 43131 21806 21325 93062 65883 27179 178796 164474 14322 47984 37971 10013 86745 67631 19114 56221 48481 7740 28377 25746 2631 621803 600955 20848 71416 49121 22295 41033 25746 15287 LOAN LOSS PROVISION 1165536 1165536 0 TELECOMMUNICATIONS 68272 36357 31915 MISCELLANEOUS 63081 35717 27364 EQUIPMENT MAINTENANCE 14044 8019 6025 DUES, LICENSES & PERMIT 12776 7241 5535 5876 4521 1355 3976842 3542043 434799 0 9491165 27673950 55534 8302823 106830 184124 13843973 16142950 25681 38145 1930534 330822 1594427 1599712 35062 31947 25152672 53973651 450894 594001 87923 7320190 4911256 14546194 17574304 22324304 491044 516776 23515421 45301465 X 728939 7857366 908312 814820 1637251 8672186 25152672 53973651 7034935 X X 0 1 1 X 1 1 X 999407 825690 771363 2597890 9538418 14732768 25725 9750 6000 4000 45475 1025132 835440 777363 2601890 9538418 14778243 14778243 961 1200 2161 14780404 6096101 0.99990 0.99810 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1621542 110778 1510764 14447 12863 1584 294545 207181 87364 1599712 LINES OF CREDIT 336250 MANAGED FUNDS 106484 DEFERRED ORIGINATION FEES 74042 516776 11011777 3976842 7034935 0 7034935 11011777 0 11011777 0 11011777 3976842 0 3976842 0 3976842 X X X X 0 0 0 0 0 0 0 1 0 CLINT GWIN 218043 0 0 0 0 0 6793 0 4920 0 229756 0 0 0 HANK HELTON 170951 0 0 0 0 0 0 0 4920 0 175871 0 0 0 AMY BUNTON 157838 0 0 0 0 0 6113 0 4920 0 168871 0 0 0 PART I, LINE 7 THE ORGANIZATION PAID BONUS COMPENSATION BASED ON CERTAIN LEVELS OF ORGANIZATIONAL PERFORMACE INCLUDING MAINTENANCE OF CDFI CERTIFICATION, COMPLIANCE WITH CDFI GOALS, MAINTENANCE OF EXEMPTION, AND POSITIVE CASH FLOW. HUGH QUEENER DIRECTOR OF THE ORGANIZATION 115195 INTEREST PAYMENTS: MR. HUGH QUEENER WORKS FOR PINNACLE NATIONAL BANK AND WAS INVOLVED WITH THE LOAN ON THE BUILDING AND INVESTMENTS IN TNROF, NOF, 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 4613 MR. SAM 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 26695 SCC MAINTAINS INTEREST BEARING ACCOUNTS AT PINNACLE NATIONAL BANK AND RECEIVED INTEREST IN THE NORMAL COURSE OF DOING BUSINESS. 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 OTHER BOARD MEMBERS AFTER IT IS FILED FOR THEIR APPROVAL. 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 AVAILABLE 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 XI, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.