Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
100 cents of each dollar spent went to programs.
Form 990 Part IX, line 25. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
12 people listed on the 990.
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
Helps people apply for and get loans.
Questions for First District Development Company
Your first name shows with your question. First District Development Company answers here, for everyone.
Small Business Administration 503/504 Program
Provides businesses with assistance and consultation in the preparation of documents necessary to obtain sba loans.
Form 990 Part III, line 4, FY2019. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-0374958) · Dispute this lineIntermediary Relending Program
Establishes revolving loan funds to lend money to businesses to assist in job creation within the region.
Form 990 Part III, line 4, FY2019. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-0374958) · Dispute this lineRevolving Loan Fund Program
Establishes revolving loan funds to lend money to businesses to assist in job creation within the region.
Form 990 Part III, line 4, FY2019. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-0374958) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Federal money
The auditor reported no findings.
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $2.4M | $2.4M |
| Land, buildings, equipmentLn 10c | $242K | $373K |
| Total assetsLn 16 | $3.1M | $3.4M |
| LiabilitiesLn 26 | $547K | $752K |
| Net assetsLn 32 | $2.6M | $2.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $233K | $233K | ||
| Pension plan contributionsLn 8 | $13K | $13K | ||
| Other employee benefitsLn 9 | $570 | $570 | ||
| Payroll taxesLn 10 | $18K | $18K | ||
| Accounting feesLn 11c | $11K | $11K | ||
| Advertising and promotionLn 12 | $4K | $4K | ||
| Office expensesLn 13 | $14K | $14K | ||
| Information technologyLn 14 | $8K | $8K | ||
| OccupancyLn 16 | $3K | $3K | ||
| TravelLn 17 | $10K | $10K | ||
| InterestLn 20 | $7K | $7K | ||
| Depreciation, depletion and amortizationLn 22 | $10K | $10K | ||
| InsuranceLn 23 | $10K | $10K | ||
| Other expenses (24a–d)Ln 24 | $62K | $62K | ||
| All other expensesLn 24e | $4K | $4K | ||
| Total functional expensesLn 25 | $408K | $408K | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Jan 14, 2026 | $82K | $3.2M | −$3.1M | $0 | 990 PDF |
| FY2024Filed with the IRS Dec 11, 2024 | $591K | $339K | $251K | $3.1M | 990 PDF |
| FY2023Filed with the IRS Jan 31, 2024 | $422K | $359K | $62K | $2.9M | 990 PDF |
| FY2022Filed with the IRS Feb 14, 2023 | $431K | $392K | $39K | $2.8M | 990 PDF |
| FY2021Filed with the IRS Jan 22, 2022 | $495K | $357K | $138K | $2.8M | 990 PDF |
| FY2020 ViewingFiled with the IRS Jan 26, 2021 | $423K | $408K | $16K | $2.6M | 990 PDF |
Schedules filed Part IV
See the full FY2020 990
Part I · Summary $423,442 revenue, 12 lines filed
Part VI · Governance 11 of 11 board members independent, no flags
Part VIII · Statement of revenue $423,442 across 4 lines filed
Part IX · Statement of functional expenses $407,539 across 15 lines filed
Part X · Balance sheet $3,367,710 assets, 13 lines filed
Part XI · Reconciliation of net assets $2,615,390 net assets at year end
Form 990 e-file FY2020 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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