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EIN 56-2142717

Institute Capital

IRS 501(c) type
501(c)(3)
Num. employees
0
City
Durham
State
North Carolina
Year formed
1999
Most recent tax filings
2022-12-01
NTEE code, primary
S20: Community, Neighborhood Development, Improvement
Description
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 ...
Related structure
Institute Capital is a subordinate organization under National Institute of Minority Economic Development.
Also known as...
North Carolina Community Development Initiative Capital
Total revenues
$2,867,118
2022
Total expenses
$2,586,659
2022
Total assets
$25,442,652
2022
Num. employees
0
2022

Program areas at Institute Capital

A community development financial institution (cdfi) certified by the u.s. department of the treasury. This state wide public-private partnership provides leadership and Capital investments to encourage and stimulate community development, expand economic opportunities, and provide financing for community and economic development activities.

Who funds Institute Capital

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Opportunity Finance Network (OFN)Finance Justice Fund Subgrant$200,000
The Aspen InstituteSupport Community Development Financial Institutions$100,000
Opportunity Finance Network (OFN)Ofn Cdfi Tech Grant Program Supported By Google.org$75,000

Personnel at Institute Capital

NameTitleCompensation
Kevin J PricePresident and Chief Executive Officer$0
Kaye GanttExecutive Vice - President and Chief Operating Officer$0
Tanya BranchChief Financial Officer
Suzanne MaloneBoard Member$0
Michael SuggsVice Chairman$0
...and 7 more key personnel

Financials for Institute Capital

RevenuesFYE 12/2022
Total grants, contributions, etc.$1,370,388
Program services$1,492,888
Investment income and dividends$835
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-5,674
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$8,681
Total revenues$2,867,118

Form 990s for Institute Capital

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-15990View PDF
2021-122023-01-10990View PDF
2020-122021-11-15990View PDF
2019-122021-04-05990View PDF
2018-122020-01-31990View PDF
...and 9 more Form 990s
Data update history
January 6, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 5, 2024
Updated personnel
Identified 2 new personnel
November 27, 2023
Received grants
Identified 3 new grant, including a grant for $200,000 from Opportunity Finance Network (OFN)
July 1, 2023
Posted financials
Added Form 990 for fiscal year 2020
June 20, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Business and community development organizationsChapter / child organizationsCharities
Issues
Community improvementEconomic development
Characteristics
LobbyingState / local levelReceives government fundingCommunity engagement / volunteeringTax deductible donationsNo full-time employees
General information
Address
PO Box 1331
Durham, NC 27702
Metro area
Durham-Chapel Hill, NC
County
Durham County, NC
Website URL
theinstitutenc.org/icap/ 
Phone
(919) 956-8889
IRS details
EIN
56-2142717
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1999
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S20: Community, Neighborhood Development, Improvement
NAICS code, primary
522120: Savings Institutions
Parent/child status
Subordinate organization
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