INSTITUTE CAPITAL INC

EIN: 562142717 501(c)(3) Community Improvement

Durham, NC

Total Revenue
$6,193,834
Total Expenses
$3,585,434
Total Assets
$31,611,129
Net Assets
$7,930,236
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
NC
Principal Officer
KEVIN J PRICE
Phone
9199568889
Tax Period
2023-01-01 to 2023-12-31

INSTITUTE CAPITAL INC, founded in 1999, is a community nonprofit in the Community Improvement sector that reported $6.2M in total revenue in fiscal year 2023. Revenue surged 116% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.6M, a strong 42% operating margin.

Mission

INSTITUTE CAPITAL, INC. IS A NOT-FOR-PROFIT ORGANIZATION WHOSE PURPOSE IS TO DEVELOP AND/OR PRESERVE AFFORDABLE HOUSING, ENCOURAGE AND STIMULATE COMMUNITY AND ECONOMIC DEVELOPMENT, AND EXPAND ECONOMIC OPPORTUNITIES AND PROVIDE FINANCING FOR COMMUNITY DEVELOPMENT ACTIVITIES. INSTITUTE CAPITAL INC. IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY AND IS SUPPORTED PRIMARILY BY GOVERNMENT GRANTS AND INCOME FROM LOANS. THE ORGANIZATION'S INVESTMENT AREA INCLUDES NORTH CAROLINA, SOUTH CAROLINA, VIRGINIA, WEST VIRGINIA, KENTUCKY, AND THE DC METRO AREA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,845,430
Program Service Revenue $1,345,007
Investment Income $2,197
Other Revenue $1,200
TOTAL REVENUE $6,193,834

Expense Breakdown

Grants Paid $36,000
Salaries & Benefits $792,010
Fundraising Expenses $25,670
Program Expenses $3,147,513
Other Expenses $2,757,424
TOTAL EXPENSES $3,585,434

Year-over-Year Comparison

2023 2022 Change
Revenue $6,193,834 $2,867,118 +1.2%
Expenses $3,585,434 $2,586,659 +0.4%
Net Income $2,608,400 $280,459 +8.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
7
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$324,583
Total Directors
8
$196,629
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEVIN J PRICE PRESIDENT/CEO 20.00
Officer Director
$0 $14,702 $196,629
LISA JACKSON BOARD MEMBER 1.00
Director
$0 $0 $0
LEWIS H MYERS CHAIRMAN 1.00
Officer Director
$0 $0 $0
SUZANNE MALONE TREASURER 1.00
Officer Director
$0 $0 $0
EVAN SITTON BOARD MEMBER 1.00
Director
$0 $0 $0
TYRONE BAINES PHD SECRETARY 1.00
Officer Director
$0 $0 $0
MICHAEL SUGGS VICE CHAIR 1.00
Officer Director
$0 $0 $0
THURMAN SMITH BOARD MEMBER 1.00
Director
$0 $0 $0
ROBERTA MCCULLOUGH SENIOR VP OPERATIONS 40.00
Officer
$0 $12,578 $127,954
ANGELA POOLE V.P. OF FINANCE 20.00
Highest
$0 $12,553 $129,737
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $6,193,834 $3,585,434 $31,611,129 $2,608,400
2022 $2,867,118 $2,586,659 $25,442,652 $280,459
2021 $2,459,551 $1,291,565 $22,759,818 $1,167,986
2020 $1,596,814 $2,383,633 $19,596,236 $-786,819
2019 $1,555,761 $1,925,413 $21,767,594 $-369,652
2018 $3,245,215 $1,344,121 $21,462,263 $1,901,094
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