SOUTHEAST COMMUNITY CAPITAL CORPORATION D/B/A PATHWAY LENDING

EIN: 621823596 501(c)(3) Employment

NASHVILLE, TN

Total Revenue
$65,102,054
Total Expenses
$29,767,322
Total Assets
$368,094,372
Net Assets
$96,907,469
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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
TN
Principal Officer
CLINT GWIN
Phone
6154257171
Tax Period
2024-01-01 to 2024-12-31

SOUTHEAST COMMUNITY CAPITAL CORPORATION D/B/A PATHWAY LENDING, founded in 1999, is a mid-sized nonprofit in the Employment sector that reported $65.1M in total revenue in fiscal year 2024. Revenue surged 44% from the prior year, signaling strong growth momentum. The organization ran a surplus of $35.3M, a strong 54% operating margin.

Mission

TO PROVIDE LENDING SOLUTIONS AND EDUCATIONAL SERVICES WHICH SUPPORT THE DEVELOPMENT, GROWTH, AND PRESERVATION OF UNDERSERVED SMALL BUSINESSES, AFFORDABLE HOUSING, AND SUSTAINABLE COMMUNITIES.

Program Service Accomplishments

Program 1
Expenses: $25,379,648 Revenue: $20,744,596

LENDING PROGRAM: AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY, SOUTHEAST COMMUNITY CAPITAL DBA PATHWAY LENDING PROVIDES FINANCING FOR...

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LENDING PROGRAM: AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY, SOUTHEAST COMMUNITY CAPITAL DBA PATHWAY LENDING PROVIDES FINANCING FOR AFFORDABLE MULTIFAMILY HOUSING AND LOANS TO QUALIFIED SMALL AND DISADVANTAGED BUSINESSES THROUGH VARIOUS GOVERNMENT AND NON-PROFIT LENDING PROGRAMS, INCLUDING: U.S. SMALL BUSINESS ADMINISTRATION (SBA), U.S. TREASURY DEPARTMENT CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI), THE APPALACHIAN REGIONAL COMMISSION (ARC), THE TENNESSEE RURAL OPPORTUNITY FUND, THE TENNESSEE ENERGY EFFICIENCY LOAN PROGRAM, THE TENNESSEE SMALL BUSINESS JOB OPPORTUNITY FUND AND THE ALABAMA SMALL BUSINESS JOB OPPORTUNITY FUND, ETC. WE FOCUS OUR ACTIVITIES ON UNDERSERVED TARGET MARKETS THAT INCLUDE BUSINESSES LOCATED IN QUALIFIED INVESTMENT AREAS (AS DEFINED BY LOW-INCOME CENSUS TRACTS, POVERTY RATES, AND UNEMPLOYMENT STATISTICS), AND AFRICAN AMERICAN OWNED BUSINESSES. OUR SERVICE AREA INCLUDES TENNESSEE AND ALABAMA, AS WELL AS PORTIONS OF MISSISSIPPI, ARKANSAS, AND KENTUCKY.SOUTHEAST COMMUNITY CAPITAL CORPORATION MADE 147 LOANS AND LINES OF CREDIT TOTALING MORE THAN $16.7MM TO SUPPORT THE CREATION, PRESERVATION, AND GROWTH OF SMALL BUSINESSES IN 2024. THE ORGANIZATION ALSO SUPPORTED COMMERCIAL REAL ESTATE, AFFORDABLE HOUSING AND MIXED-USE REAL ESTATE INITIATIVES BY MAKING 21 LOANS TOTALING OVER $17.3MM TO SUPPORT THE ACQUISITION, DEVELOPMENT, AND REHABILITATION OF COMMERCIAL REAL ESTATE, 9 LOANS TOTALING OVER $16.1MM TO SUPPORT AFFORDABLE MULTIFAMILY RENTAL HOUSING, AND 3 LOANS TOTALING OVER $1.3MM TO SUPPORT MIXED-USE DEVELOPMENTS IN THE MEMPHIS MEDICAL DISTRICT, WHICH RESULTED IN THE CREATION AND PRESERVATION OF APPROXIMATELY 162 RENTAL UNITS. SOUTHEAST COMMUNITY CAPITAL CORPORATION ALSO OFFERS CLIMATE-CENTERED LOANS. IN 2024, IT MADE 26 LOANS TOTALING APPROXIMATELY $8.8MM TO SUPPORT THE IMPLEMENTATION OF ENERGY EFFICIENCY AND RENEWABLE ENERGY PROJECTS AT BUSINESSES ACROSS TENNESSEE. TOTAL ANNUAL ENERGY SAVINGS FROM THE ENERGY LOANS WERE $364,982 WITH 3,406,854 KWH GENERATED THROUGH RENEWABLE SOURCES OR SAVED THROUGH EFFICIENCY EFFORTS.

Program 2
Expenses: $2,766,972 Revenue: $576,932

EDUCATIONAL PROGRAM: SOUTHEAST COMMUNITY CAPITAL CORPORATION PROVIDES BUSINESS EDUCATION AND TECHNICAL ASSISTANCE TO SMALL AND DISADVANTAGED BUSINESSES THROUGH VARIOUS GOVERNMENT AND NON-PROFIT...

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EDUCATIONAL PROGRAM: SOUTHEAST COMMUNITY CAPITAL CORPORATION PROVIDES BUSINESS EDUCATION AND TECHNICAL ASSISTANCE TO SMALL AND DISADVANTAGED BUSINESSES THROUGH VARIOUS GOVERNMENT AND NON-PROFIT SUPPORT PROGRAMS, INCLUDING: THE U.S. SMALL BUSINESS ADMINISTRATION AND VARIOUS FOUNDATIONS. SOUTHEAST COMMUNITY CAPITAL CORPORATION PROVIDES THIS THROUGH VARIOUS INTERNAL PROGRAMS, SUCH AS THE PATHWAY LENDING BUSINESS ADVISORY SERVICES TEAM, EMERGING DEVELOPER PROGRAM, WOMEN'S BUSINESS CENTER, AND VETERANS BUSINESS OUTREACH CENTER. THE ASSISTANCE INCLUDES ACCESS TO FINANCIAL SERVICES, ACCESS TO CAPITAL NEEDS AND INCLUDES CLASSROOM EDUCATION, 1-ON-1 ASSISTANCE, AND PEER LEARNING.IN 2024 SOUTHEAST COMMUNITY CAPITAL CORPORATION PROVIDED 14,957 HOURS OF EDUCATION; 9,399 WERE IN CLASSROOM/EVENTS SETTINGS, 5,558 WERE ONE-ON-ONE COUNSELING SESSIONS. THERE WERE 2,874 UNIQUE EDUCATION CLIENTS SERVED, 74% WERE REPRESENTATIVE OF PATHWAY LENDING'S CDFI TARGET MARKETS (AS DEFINED BY BEING LOCATED IN QUALIFIED LOW-TO-MODERATE INCOME CENSUS TRACTS, OR HAVING A MAJORITY LOW-INCOME OR MINORITY OWNER), WITH 40% BEING FEMALE, AND 53% BEING AFRICAN AMERICAN. THERE WERE 73 CLASSES, NETWORKING EVENTS, AND COHORT-BASED LEARNING SESSIONS CONDUCTED THAT FOCUSED ON ENTREPRENEURIAL EDUCATION IN AREAS SUCH AS CASH FLOW MANAGEMENT, FINANCIAL PREPARATION, REVENUE AND EXPENSE PROJECTIONS, ACCOUNTING SYSTEMS, AND MANAGEMENT.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $43,780,526
Program Service Revenue $14,594,740
Investment Income $6,593,904
Other Revenue $132,884
TOTAL REVENUE $65,102,054

Expense Breakdown

Grants Paid $6,884,156
Salaries & Benefits $9,733,465
Fundraising Expenses $19,953
Program Expenses $28,146,620
Other Expenses $13,149,701
TOTAL EXPENSES $29,767,322

Year-over-Year Comparison

2024 2023 Change
Revenue $65,102,054 $45,168,768 +0.4%
Expenses $29,767,322 $30,862,346 0.0%
Net Income $35,334,732 $14,306,422 +1.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
5
Employees
66
Volunteers
9

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
7
$2,112,299
Total Directors
9
$0
Key Employees
4
$915,069
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR WILLIAM H HERB BYRD III CHAIRMAN 1.50
Officer Director
$0 $0 $0
IVANETTA DAVIS-SAMUELS VICE CHAIRMAN 1.50
Officer Director
$0 $0 $0
LEROY ABRAHAMS DIRECTOR (START 5/24) 1.50
Director
$0 $0 $0
DAVE BEREZOV DIRECTOR 1.50
Director
$0 $0 $0
ANDRE GIST DIRECTOR 1.50
Director
$0 $0 $0
CINDY HERRON DIRECTOR 1.50
Director
$0 $0 $0
HUGH QUEENER DIRECTOR 1.50
Director
$0 $0 $0
TOM HUNTER DIRECTOR (END 5/24) 1.50
Director
$0 $0 $0
JON DAVIES DIRECTOR (END 5/24) 1.50
Director
$0 $0 $0
BARBARA HARRIS EVP AND CFO (END 6/24) 50.00
Officer
$411,193 $16,693 $427,886
CLINT GWIN PRESIDENT AND CEO 50.00
Officer
$562,522 $15,264 $577,786
HANK HELTON EVP AND SECRETARY 50.00
Officer
$382,330 $17,324 $399,654
AMY BUNTON EVP AND COO 50.00
Officer
$377,356 $32,444 $409,800
RICHARD BIRD EVP AND CFO 50.00
Officer
$280,293 $16,880 $297,173
JAMES MIKE BLACKWELL SVP- CHIEF CREDIT OFFICER 50.00
Key Emp
$228,688 $752 $229,440
DANIEL WILSON SVP- LOAN OPERATIONS 50.00
Key Emp
$240,064 $12,605 $252,669
LESLIE HAYES SVP- EDUCATION AND ENTRE 50.00
Key Emp
$197,857 $24,068 $221,925
LORI ROCHELLE SVP- CHIEF PEOPLE OFFICER 50.00
Key Emp
$201,503 $9,532 $211,035
KEITH HICKEY SVP- LENDING 50.00
Highest
$157,690 $13,916 $171,606
PAUL HOFFMANN SVP- ECONOMIC & SOCIAL IMPACT 50.00
Highest
$158,407 $13,299 $171,706
JONATHAN EISEN VP LENDING 50.00
Highest
$167,557 $26,481 $194,038
BRANDON ENGLAND SVP- SUSTAINABILITY PROGRAMS 50.00
Highest
$153,044 $11,896 $164,940
LORRAINE BIGGS SVP- CONTROLLER 50.00
Highest
$163,271 $12,786 $176,057
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 $65,102,054 $29,767,322 $368,094,372 $35,334,732
2023 $45,168,768 $30,862,346 $336,197,905 $14,306,422
2022 $34,352,914 $29,477,351 $283,577,378 $4,875,563
2021 $22,555,455 $13,260,211 $264,396,878 $9,295,244
2020 $20,413,969 $18,652,385 $190,692,663 $1,761,584
2019 $14,001,356 $10,179,844 $188,207,333 $3,821,512
2018 $12,984,889 $13,683,273 $155,604,838 $-698,384
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