Organizations Filed Purposes:
COMMUNITY INVESTMENT COLLABORATIVE'S MISSION IS TO STRENGTHEN OUR COMMUNITY AND CONTRIBUTE TO ECONOMIC DEVELOPMENT BY FUELING THE SUCCESS OF UNDER- RESOURCED ENTREPRENEURS THROUGH EDUCATION, MENTORING, MICRO-LENDING AND NETWORKING.
EDUCATION: CIC PROVIDES DETAILED BUSINESS EDUCATION USING AN EFFECTIVE AND FOCUSED PROGRAM. TRAINING: PARTICIPANTS MUST COMPLETE A 16 SESSION TRAINING PROGRAM BEFORE APPLYING FOR FINANCING. THE PROGRAM USES A CURRICULUM THAT COMBINES CASE STUDIES, DISCUSSION AND APPLIED LEARNING. BY CREATING A TRUSTED ENVIRONMENT, ENTREPRENEURS LEARN ESSENTIAL SKILLS AND CONFIDENCE TO PURSUE THEIR BUSINESSES. USING VOLUNTEER PROFESSIONALS IN OUR COMMUNITY, CIC NOT ONLY PROVIDES IN-DEPTH LEARNING BUT ALSO EXPANDS PARTICIPANTS' PROFESSIONAL NETWORKS EXPONENTIALLY. TO DATE: 438 GRADUATES REPRESENTING 423 STARTUP OR EXISTING BUSINESSES. 96 NEW BUSINESSES OPENED, 203 FULL TIME EQUIVALENT JOBS CREATED.
FINANCING: UPON SUCCESSFUL COMPLETION OF THE TRAINING PROGRAM, GRADUATES MAY APPLY FOR LOANS UP TO 35,000. AN INDEPENDENT LOAN COMMITTEE, COMPRISED OF TWO BANKERS, TWO BUSINESS OWNERS AND ONE COMMUNITY MEMBER CONSIDER EACH LOAN REQUEST. TO DATE: TO DATE: APPROVED 1,653,431 LOANS TO 172 BORROWERS. CIC PARTNERED WITH 11 MUNICIPALITIES TO PROVIDE ACCESS TO CAPITAL IN THE FORM OF BUSINESS GRANTS FUNDED BY THE FEDERAL CARES ACT. AS A RESULT, 599 BUSINESSES AND ADDITIONAL 106 NONPROFIT ENTITIES RECEIVED 11,192,341 IN GRANTS TO SUPPORT THEIR OPERATIONS IN A 6 MONTH PERIOD.
CENTRAL VIRGINIA SMALL BUSINESS DEVELOPMENT CENTER: THE CENTRAL VIRGINIA SMALL BUSINESS DEVELOPMENT CENTER IS HOUSED AT CIC THROUGH SUPPORT FROM THE SMALL BUSINESS ADMINISTRATION AND LOCAL PARTNERS. IT PROVIDES ONE ON BUSINESS COUNSELING AND INDIVIDUAL TRAINING. IN 2020, IT PROVIDED 469 CLIENTS WITH 3,343 HOURS OF COUNSELING.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Stephen Davis | PRESIDENT | 40 | $94,500 |
| Molly Fulton | DIRECTOR | 2 | $0 |
| Jason Becton | DIRECTOR | 2 | $0 |
| Elizabeth Willingham | DIRECTOR | 2 | $0 |
| Kevin Schuyler | DIRECTOR | 2 | $0 |
| S Lisa Herndon | DIRECTOR | 2 | $0 |
| Juandiego Wade | DIRECTOR | 2 | $0 |
| Alex Urpi | DIRECTOR | 2 | $0 |
| Sara Clayborne | VICE CHAIR | 2 | $0 |
| Lee Elberson | CHAIR | 2 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202141239349300239_public.xml