Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2012.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
88 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Who runs it and what they're paid
11 people listed on the 990; $132K paid to officers and key staff.
Stephen Davis’s $132K as President is at the 37th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Stephen Davis | $132,500 | $125,000 | $127,300 | $125,000 | $98,000 | $94,500 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Empowers under-resourced entrepreneurs with education, mentoring, and micro-loans for economic growth.
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Cic provides business education, mentoring and networking opportunities to under-resourced entrepreneurs. The signature education program is a 16-WEEK entrepreneur workshop that combines case studies, discussion and applied learning.
Cic Has Two Core Financing Programs
A microloan program that provides loans up to $50,000, and a microgrants program that helps under-resourced entrepreneurs test their products or services. In 2025, 42 businesses received $1,555,315 in loans and 17 businesses received $22,795 in microgrants.
The CV SBDC is housed at cic with support from the small business administration, state and local governments, and private support. It provides free one-on-one business advising and training workshops. In 2025, the CV SBDC provided 688 clients with 3,715 hours of business advising.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $808K | $1.5M |
| Land, buildings, equipmentLn 10c | $137K | $77K |
| Total assetsLn 16 | $2.8M | $3.8M |
| LiabilitiesLn 26 | $555K | $1.1M |
| Net assetsLn 32 | $2.3M | $2.8M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $196K | $196K | ||
| Pay of current officers, directors and key staffLn 5 | $144K | $93K | $14K | $36K |
| Other salaries and wagesLn 7 | $1.2M | $1.1M | $56K | $35K |
| Other employee benefitsLn 9 | $117K | $113K | $1K | $3K |
| Payroll taxesLn 10 | $90K | $83K | $2K | $5K |
| Other fees for servicesLn 11g | $270K | $178K | $65K | $26K |
| Advertising and promotionLn 12 | $12K | $10K | $1K | $1K |
| Office expensesLn 13 | $31K | $28K | $2K | $1K |
| Information technologyLn 14 | $59K | $44K | $15K | $160 |
| OccupancyLn 16 | $111K | $110K | $917 | |
| Conferences, conventions and meetingsLn 19 | $59K | $55K | $989 | $3K |
| Depreciation, depletion and amortizationLn 22 | $6K | $6K | ||
| InsuranceLn 23 | $8K | $8K | $29 | |
| Other expenses (24a–d)Ln 24 | $227K | $211K | $3K | $14K |
| All other expensesLn 24e | $66K | $51K | $11K | $4K |
| Total functional expensesLn 25 | $2.6M | $2.2M | $185K | $128K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $3.1M | $2.6M | $540K | $2.8M | 990 PDF |
| FY2024 | $2.4M | $2.4M | −$25K | $2.3M | 990 PDF |
| FY2023 | $2.1M | $2.0M | $58K | $2.3M | 990 PDF |
| FY2022 | $2.2M | $2.0M | $209K | $2.2M | 990 PDF |
| FY2021 | $2.8M | $2.4M | $453K | $2.0M | 990 PDF |
| FY2020 | $13.5M | $12.7M | $754K | $1.6M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $3,095,081 across 6 lines filed
Part IX · Statement of functional expenses $2,554,804 across 15 lines filed
Part X · Balance sheet $3,843,834 assets, 14 lines filed
Part XI · Reconciliation of net assets $2,790,747 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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