Overview
What is Locus Inc?
Locus Inc, based in Richmond, Virginia, is a nonprofit organization dedicated to fostering community and economic development initiatives. They achieve this goal by offering financial support, either directly or through investments in social enterprises. These enterprises provide various financing options, such as loans, loan guarantees, debt, or equity financing, to early-stage for-profit and non-profit business organizations. Additionally, Locus Inc and its subsidiaries offer technical assistance to help these ventures and community organizations operate effectively. Their mission is to provide innovative, flexible financial products that support housing and community development ventures, create jobs, and build sustainable communities. They prioritize projects in low to moderate income communities in underserved geographies and markets.
Official website here: www.locusimpact.org
Is Locus Inc legitimate?
Locus Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Locus Inc 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.locusimpact.org
What is the mission statement of Locus Inc?
Locus Inc's mission is centered around supporting housing and community development ventures. They offer innovative financial products, extending beyond traditional bank lending, to projects with a positive impact in low to moderate income communities in underserved areas and markets. The organization aids in community and economic development initiatives either directly or through investments in social enterprises. These investments provide capital and technical assistance to early-stage for-profit and non-profit business organizations and community organizations. Locus Inc. offers various financial services such as loans, loan guarantees, and equity financing, in addition to impact asset servicing services and grants. They also provide technical assistance to business owners, community organizations, clients, and managers to help them effectively operate their enterprises.
Official website here: www.locusimpact.org
Who is the CEO of Locus Inc?
Amir Kirkwood is the CEO of Locus Inc The CEO's salary of Locus Inc is $0 and their total compensation is $387,910.
Official website here: www.locusimpact.org
What is the revenue of Locus Inc?
Locus Inc's revenue in 2023 was $12,113,077.
Official website here: www.locusimpact.org
Who are the executives of Locus Inc and what are their salaries?
There are 105 employees at Locus Inc.
Here are 22 key members and their salaries (Locus Inc's CEO's salary is $0 and their total compensation is $387,910):
- Compensation: $0
- Related: $263,831
- Other: $0
- Compensation: $0
- Related: $92,372
- Other: $0
- Compensation: $0
- Related: $10,550
- Other: $0
- Compensation: $0
- Related: $13,700
- Other: $0
- Compensation: $0
- Related: $14,850
- Other: $0
- Compensation: $0
- Related: $13,700
- Other: $0
- Compensation: $0
- Related: $17,450
- Other: $0
- Compensation: $0
- Related: $12,300
- Other: $0
- Compensation: $0
- Related: $16,100
- Other: $0
- Compensation: $0
- Related: $12,000
- Other: $0
- Compensation: $0
- Related: $15,750
- Other: $0
- Compensation: $0
- Related: $16,050
- Other: $0
- Compensation: $0
- Related: $14,700
- Other: $0
- Compensation: $0
- Related: $11,400
- Other: $0
- Compensation: $0
- Related: $1,000
- Other: $0
- Compensation: $0
- Related: $145,360
- Other: $0
- Compensation: $0
- Related: $387,910
- Other: $0
- Compensation: $0
- Related: $198,224
- Other: $0
- Compensation: $0
- Related: $183,321
- Other: $0
- Compensation: $0
- Related: $221,831
- Other: $0
- Compensation: $0
- Related: $198,775
- Other: $0
- Compensation: $0
- Related: $245,251
- Other: $0
Official website here: www.locusimpact.org
Where can I find the form 990 for Locus Inc?
Locus Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.locusimpact.org
Learn more at the official website: www.locusimpact.org
Mission Statement of Locus Inc
Locus Inc is a mission-driven organization with a focus on supporting housing and community development ventures. Their primary aim is to offer innovative and flexible financial products that cater to projects with a positive impact in low to moderate income communities and underserved geographies and markets. By providing loan capital that goes beyond bank lending, Locus Inc supports initiatives that contribute to job creation and the development of sustainable communities.
In addition to offering financial aid, Locus Inc also plays a role in aiding community and economic development initiatives. This can be achieved either directly or through investments in social enterprises. These social enterprises, in turn, provide capital and technical assistance to early-stage for-profit and non-profit business organizations and community organizations. By doing so, Locus Inc contributes to the growth and success of these ventures, ultimately contributing to the betterment of their respective communities.
In summary, Locus Inc is an organization committed to supporting community and economic development initiatives. They achieve this by offering financial products, investing in social enterprises, and providing technical assistance. Their goal is to enhance the capacity of early-stage businesses and organizations, thereby contributing to job creation and the development of sustainable communities in low to moderate income communities and underserved geographies and markets.
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Impact
August, 2024
Locus Inc's impact is centered around offering innovative and flexible financial products to support housing and community development ventures. By providing loan capital that goes beyond traditional bank lending, Locus Inc is able to fund projects that have a positive impact in low to moderate-income communities in underserved geographies and markets. This initiative not only increases jobs but also contributes to building sustainable communities. Through direct investments and support for social enterprises, Locus Inc plays a crucial role in advancing community and economic development initiatives. Additionally, the organization provides technical assistance to business owners and community organizations to ensure the effective operation of their enterprises. Locus Inc's work ultimately contributes to the improvement and empowerment of communities, aligning with its mission of aiding in community and economic development initiatives.
This information is meant to be a general summary of Locus Inc. 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 2023.
- Investment Income: $113,077
- Gross Receipts: $12,113,077
Assets and Liabilities:
- Total Assets: $102,314,462
- Total Liabilities: $1,580,985
- Net Assets: $100,733,477
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Organization Details
Founding Year
2021
Principal Officer
Clyde A Cornett Jr
Website
www.locusimpact.orgNTEE Category
Code: S12 - Community improvement
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