Overview
What is Premier Capital Corporation?
Premier Capital Corporation is a nonprofit organization situated in Indianapolis, Indiana. With a mission to promote economic development, they primarily focus on arranging loans for over 400 small businesses in Indiana and Kentucky. These businesses, in turn, create job opportunities and contribute to the tax base of the region. Their core activities involve originating, closing, and servicing Small Business Administration (SBA) loans through the SBA Section 504 Loan Program and other economic development activities, as authorized by their board of directors. The corporation currently employs 9 individuals.
Official website here: www.504partner.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Premier Capital Corporation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong accountability and financial performance. The organization has earned a perfect score across various metrics, indicating a high level of transparency and responsible management. The rating is based entirely on the Accountability & Finance beacon, which highlights the importance of financial health in nonprofit operations.
The organization boasts a fully independent board, with all 17 members meeting the criteria for independence. Their commitment to financial oversight is further demonstrated by an active Audit and Oversight Committee, which has been recognized for its effectiveness. Additionally, Premier Capital Corporation has implemented essential governance policies, including conflict of interest and whistleblower protections, ensuring ethical practices throughout its operations.
Despite these strengths, the organization has not been noted for any significant material diversion of assets, reinforcing its integrity. The program expense ratio is impressive at 90.88%, indicating that the majority of its funds are directed towards its programs, which is a key metric for nonprofit efficiency. Overall, Premier Capital Corporation stands out for its robust financial practices and governance, affirming its reliability as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Premier Capital Corporation legitimate?
Premier Capital Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Premier Capital Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $192,591
Professional Fundraising Fees: $0
Other Salaries and Wages: $611,880
For more financial information, click here
Official website here: www.504partner.com
What is the mission statement of Premier Capital Corporation?
Premier Capital Corporation's mission is centered around promoting economic development in two states, specifically Indiana and Kentucky. They achieve this goal by utilizing programs such as the U.S. Small Business Administration (SBA) Section 504 Loan Program and other economic development activities, as authorized by their board of directors. The corporation's primary activity involves originating, closing, and servicing loans for over 400 small businesses in these states. These small businesses, in turn, create new employment opportunities and contribute to an increased tax base in the region.
Official website here: www.504partner.com
Who is the CEO of Premier Capital Corporation?
David W Amick is the Executive Director/Asst. S of Premier Capital Corporation.
Official website here: www.504partner.com
What is the revenue of Premier Capital Corporation?
Premier Capital Corporation's revenue in 2022 was $1,528,792.
Official website here: www.504partner.com
Who are the executives of Premier Capital Corporation and what are their salaries?
The average compensation at Premier Capital Corporation during 2022 was $89,386. There are 9 employees and 15 volunteers at Premier Capital Corporation.
Here are 17 key members and their salaries:
- Compensation: $155,924
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- Other: $19,493
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Official website here: www.504partner.com
Where can I find the form 990 for Premier Capital Corporation?
Premier Capital Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.504partner.com
Learn more at the official website: www.504partner.com
Mission Statement of Premier Capital Corporation
Premier Capital Corporation, a renowned organization, is dedicated to fostering economic development in both Indiana and Kentucky. Its primary mission involves originating, closing, and servicing Small Business Administration (SBA) loans through the SBA Section 504 Loan Program and other authorized economic development activities, as determined by its board of directors. By providing these loans, Premier Capital Corporation helps more than 400 small businesses in the mentioned states. These businesses, in turn, create new employment opportunities and contribute to the growth of the regional tax base. In essence, Premier Capital Corporation plays a pivotal role in promoting economic growth and development in Indiana and Kentucky.
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Impact
October, 2024
Premier Capital Corporation plays a crucial role in stimulating economic development in Indiana and Kentucky by originating, closing, and servicing SBA loans. By facilitating loans for over 400 small businesses in the region, it contributes significantly to job creation and enhances the local tax base. This activity not only fosters individual business growth but also cultivates a more robust economic landscape in the areas it serves. With a focus on programs like the U.S. Small Business Administration Section 504 Loan Program, Premier Capital Corporation is dedicated to empowering entrepreneurs and strengthening the community through responsible financing and support. Its mission directly impacts local economies by promoting sustainable growth and improving the overall quality of life for residents.
This information is meant to be a general summary of Premier Capital Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $5,742
- Program Service Revenue: $1,514,614
- Gross Receipts: $1,532,072
Assets and Liabilities:
- Total Assets: $2,695,127
- Total Liabilities: $213,180
- Net Assets: $2,481,947
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICING FEES
Revenue
$868,842
LOAN CLOSING FEES
Revenue
$571,268
FLOAT INTEREST INCOME
Revenue
$74,504
Organization Details
Founding Year
1976
Phone
(317) 974-0504Principal Officer
David W Amick
Main Address
300 NORTH MERIDIAN STREET 990, INDIANAPOLIS, IN, 46204
Website
www.504partner.comNTEE Category
Code: S43 - Community improvement
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