Mountain Bizcapital Inc
Mountain Bizcapital Inc
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About this organization
Mission
Mountain Bizworks envisions a thriving Western North Carolina in which small business owners and aspiring entrepreneurs have access to the resources needed to make their dreams a reality - a region where collaboration, creativity, innovation, and investment generate opportunity and prosperity for all. Mountain Bizworks' mission is to build a vibrant and inclusive entrepreneurial community in Western North Carolina by helping small businesses start, grow, and thrive. When small businesses succeed, we all prosper.
About
Mountain Bizcapital (MBC) is a not-for-profit corporation established 29 years ago. The primary purpose of MBC is to provide direct micro and small business loans. Since its existence, MBC has loaned 27 million to over 1,250 businesses which have created 4,800 jobs and has engaged in entrepreneurial education with over 10,000 entrepreneurs in Western North Carolina. In April 2003, MBC was certified as a community development financial institution by the community development financial institution funds of the US Department of Treasury. The organization is classified as a publicly-supported charitable organization under section 501(c)(3) of the internal revenue code.
Interesting data from their 2019 990 filing
The mission of the non-profit, as stated in the filing, is “Mountain bizworks envisions a thriving western north carolina in which small business owners and aspiring entrepreneurs have access to the resources needed to make their dreams a reality - a region where collaboration, creativity, innovation, and investment generate opportunity and prosperity for all. mountain bizworks' mission is to build a vibrant and inclusive entrepreneurial community in western north carolina by helping small businesses start, grow, and thrive. when small businesses succeed, we all prosper.”.
When referring to its tasks, they were described as: “Mountain bizworks creates economic opportunity for the people of western north carolina by helping small businesses start, grow, and create jobs through small business learning and lending.”.
- The non-profit is operating legally in the state of NC.
- The non-profit's address for the year 2019 is listed as 153 SOUTH LEXINGTON AVENUE, ASHEVILLE, NC, 28801 in the filing.
- The form submitted by the non-profit organization for 2019 reports 17 employees.
- The non-profit has loans as of 2019.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor-advised fund.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $1,252,715.
- The CEO compensation package within the organization is established through a review and approval process by an independent body.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 14 independent voting members.
- The organization was formed in 2002.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule B.
- The organization is required to file Schedule O.
- The organization pays $875,487 in salary, compensation, and benefits to its employees.
- The organization pays $43,184 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization has minutes of its meetings.
- The organization has a written whistleblower policy.
- The organization's financial statements were reviewed by an accountant.