Piedmont Business Capital

Analysis

Piedmont Business Capital is a registered charity in United States, based in Greensboro, NC. It received its IRS tax-exemption ruling in April 1999, 27 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Piedmont Business Capital reported income of $2.4m and spending of $785k, leaving 67% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $737k to $2.4m (+225%), an average of +34% a year. The sharpest change came in the year to December 2020, when income rose by 87%. Over the whole period it spent 37% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Piedmont Business Capital sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include Community Focus Foundation ($2.4m), Southwest Training Services Inc ($2.4m) and New Level Community Development Corporation ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $345k. At year end it held assets of $4.5m against liabilities of $264k, net assets of $4.2m. It reported 10 employees.