Overview
What is 504 Capital Corporation?
504 Capital Corporation is a nonprofit organization dedicated to providing financial assistance to small businesses. Specifically, they offer SBA Section 504 loans, which provide permanent below-market financing for eligible businesses. This includes companies owned by minorities, women, and veterans situated within the federal area. Their mission is to empower these small businesses by offering affordable financing options, thereby contributing to economic growth and development within their community.
Official website here: www.504capital.com
Is 504 Capital Corporation legitimate?
504 Capital Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. 504 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: $290,063
Professional Fundraising Fees: $0
Other Salaries and Wages: $718,000
For more financial information, click here
Official website here: www.504capital.com
What is the mission statement of 504 Capital Corporation?
504 Capital Corporation is committed to providing assistance to small businesses. Specifically, it offers Section 504 loans from the Small Business Administration. This corporation targets minority-owned, women-owned, and veteran-owned businesses, offering them permanent financing at below-market rates. The primary objective is to support these businesses situated within the federal area.
Official website here: www.504capital.com
Who is the CEO of 504 Capital Corporation?
Brent Swanson is the President of 504 Capital Corporation.
Official website here: www.504capital.com
What is the revenue of 504 Capital Corporation?
504 Capital Corporation's revenue in 2022 was $1,795,888.
Official website here: www.504capital.com
Who are the executives of 504 Capital Corporation and what are their salaries?
The average compensation at 504 Capital Corporation during 2022 was $126,008. There are 8 employees and 6 volunteers at 504 Capital Corporation.
Here are 9 key members and their salaries:
- Compensation: $250,000
- Related: $0
- Other: $37,500
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $111,000
- Related: $0
- Other: $16,650
- Compensation: $120,000
- Related: $0
- Other: $18,000
- Compensation: $110,000
- Related: $0
- Other: $16,500
Official website here: www.504capital.com
Where can I find the form 990 for 504 Capital Corporation?
504 Capital Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.504capital.com
Learn more at the official website: www.504capital.com
Mission Statement of 504 Capital Corporation
504 Capital Corporation, as a mission-driven organization, focuses on providing Small Business Administration Section 504 loans. This corporation serves a distinct purpose by offering long-term, below-market financing to small businesses that are either minority-owned, women-owned, or veteran-owned. The primary goal of 504 Capital Corporation is to empower these businesses within the federal area, ensuring they have the necessary financial resources to thrive and grow. By providing these loans, the corporation plays a vital role in fostering economic development and promoting entrepreneurship among underrepresented groups.
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Impact
October, 2024
504 Capital Corporation plays a vital role in enhancing the economic landscape by providing SBA Section 504 loans to small businesses. With a focus on minority-owned, women-owned, and veteran-owned enterprises in the federal area, the organization delivers permanent below-market financing that empowers these businesses to grow and thrive. This support not only facilitates individual business success but also contributes to broader community improvement initiatives in Chesapeake, VA. By making capital accessible to underrepresented groups, 504 Capital Corporation fosters diversity in entrepreneurship and promotes a more inclusive economy.
This information is meant to be a general summary of 504 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: $88,126
- Program Service Revenue: $1,707,762
- Gross Receipts: $1,795,888
Assets and Liabilities:
- Total Assets: $2,979,414
- Total Liabilities: $189,158
- Net Assets: $2,790,256
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BUSINESS LOAN SERVICIN
Revenue
$1,707,762
Organization Details
Founding Year
1983
Phone
(757) 623-2691Principal Officer
Brent Swanson
Main Address
501 INDEPENDENCE PARKWAY 330, CHESAPEAKE, VA, 23320
Website
www.504capital.comNTEE Category
Code: S43 - Community improvement
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