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Flagship Enterprise Capital

Tax-deductible

Anderson, IN501(c)(3)Community Development EIN 81-3693405Revenue $753K in FY2025Latest return filed Feb 6, 2026

On file with the IRS2705 Enterprise Dr, 46013-9670 · Anderson, INTax-exempt since Dec 2016Publicly supported charity — 170(b)(1)(A)(vi)

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A mission driven financial institution that helps provide financial services to meet the needs of economically disadvantaged businesses and individuals in underserved communities.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$9K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $250K a year · 42% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$9K
to officers and key staff · 2% of spending
Top officer’s pay lower than 94% of similar orgs
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
16 mo
of spending, in cash
Looks good: 16.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $30K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$274K
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$753K
-2% vs prior year
Spent
$379K
To programs
80%
Net assets
$1.9M
By yearFY2021–FY2025
Revenue
$753K
FY2025▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2021$444K
FY2023$441K
FY2024$767K
FY2025$753K
Expenses
$379K
FY2025▼ -20%
Tap a bar for its year
Expenses by fiscal year
FY2021$190K
FY2023$360K
FY2024$476K
FY2025$379K
Net assets
$1.9M
FY2025▲ +31%
Tap a bar for its year
Net assets by fiscal year
FY2021$614K
FY2023$1.2M
FY2024$1.4M
FY2025$1.9M

From the FY2025 Form 990 (year ending May 2025) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $304K Management & general 20% · $75K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990; $9K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Jessie Reynolds
Executive Director
$9,382Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mathew Foley
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Jessie Reynolds’s $9K as Executive Director is at the 6th percentile of top reported officer pay among 1709 $100K–1M 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.

See Flagship Enterprise Capital executive salaries →

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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

Provides financial services to help economically disadvantaged businesses and individuals in underserved communities.

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Provided by the organization

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1 program · $304K · in their own filed words · FY2024
01

In the fiscal year ending may 31, 2025, flagship enterprise capital closed 13 loans. Of these loans, 7 were disbursed to minorities, 6 to women-owned businesses, 1 to veterans, 5 to start-up enterprises, and 7 to low-income businesses.

$304Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
National Community Reinvestment Coalition INCFY2023$30K
Total grants receivedfrom 1 funder$30K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$753K
Ln 12
Gifts and grantsLn 1h$611K
Investment incomeLn 3$132K
Fees for servicesLn 2g$9K
Money outPt IX
$379K
Ln 25
Programscol B$304K
Managementcol C$75K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$507K
Total assetsLn 16$2.1M
LiabilitiesLn 26$274K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$611K
Fees for servicesLn 2g$9K
Investment incomeLn 3$132K
Total revenueLn 12$753K
Assets in detailPt X, end of year
CashLn 1$507K
Cash and savings togetherLn 1–2$507K
Other assetsLn 15$180K
Total assetsLn 16$2.1M
LiabilitiesLn 26$274K
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$367K$507K
Total assetsLn 16$1.9M$2.1M
LiabilitiesLn 26$497K$274K
Net assetsLn 32$1.4M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$52K$52K
Payroll taxesLn 10$903$903
Management feesLn 11a$34K$34K
Accounting feesLn 11c$9K$9K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$3K$1K$1K
OccupancyLn 16$28K$28K
InterestLn 20$4K$4K
InsuranceLn 23$11K$11K
Other expenses (24a–d)Ln 24$236K$236K
All other expensesLn 24e$136$136
Total functional expensesLn 25$379K$304K$75K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Feb 6, 2026 $753K$379K$374K$1.9M 990 PDF
FY2024Filed with the IRS Feb 19, 2025 $767K$476K$291K$1.4M 990 PDF
FY2023Filed with the IRS Mar 12, 2024 $441K$360K$80K$1.2M 990 PDF
FY2022 Not on file
FY2021Filed with the IRS Nov 23, 2021 $444K$190K$254K$614K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $752,907 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $650,000$611,136
I-9 Program service revenuePrior year $7,808$9,364
I-10 Investment incomePrior year $109,266$132,407
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $767,074$752,907
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $57,888$52,792
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $418,015$326,364
I-18 Total expensesPrior year $475,903$379,156
I-19 Revenue less expensesPrior year $291,171$373,751
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $752,907 across 5 lines filed
VIII-1f All other contributions, gifts and grants$611,136
VIII-1h Total contributions, gifts and grants$611,136
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,364$9,364
VIII-3 Investment incomeRelated to mission $132,407$132,407
VIII-12 Total revenueRelated to mission $141,771 · Unrelated business $0 · Excluded from tax $0$752,907
Part IX · Statement of functional expenses $379,156 across 11 lines filed
IX-7 Other salaries and wagesPrograms $51,889$51,889
IX-10 Payroll taxesPrograms $903$903
IX-11a Management feesManagement $34,377$34,377
IX-11c Accounting feesPrograms $9,002$9,002
IX-12 Advertising and promotionPrograms $1,230$1,230
IX-13 Office expensesPrograms $1,358 · Management $1,321$2,679
IX-16 OccupancyManagement $27,514$27,514
IX-20 InterestPrograms $3,998$3,998
IX-23 InsuranceManagement $11,472$11,472
IX-24 Other expenses (24a–d)Programs $235,956$235,956
IX-24e All other expensesPrograms $136$136
IX-25 Total functional expensesPrograms $304,472 · Management $74,684 · Fundraising $0$379,156
Part X · Balance sheet $2,146,263 assets, 12 lines filed
Asset lines not itemized here account for $1,437,654; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $367,335$507,470
X-4 Accounts receivableStart of year $8,805$8,913
X-9 Prepaid expenses and deferred chargesStart of year $9,309$11,796
X-15 Other assetsStart of year $200,737$180,430
X-16 Total assetsStart of year $1,931,090$2,146,263
X-17 Accounts payable and accrued expensesStart of year $28,586$9,945
X-25 Other liabilitiesStart of year $235,631$187,592
X-26 Total liabilitiesStart of year $496,874$274,433
X-27 Net assets without donor restrictionsStart of year $1,434,216$1,807,966
X-28 Net assets with donor restrictions$63,864
X-32 Total net assets or fund balancesStart of year $1,434,216$1,871,830
X-33 Total liabilities and net assetsStart of year $1,931,090$2,146,263
Part XI · Reconciliation of net assets $1,871,830 net assets at year end
XI-1 Total revenue$752,907
XI-2 Total expenses$379,156
XI-3 Revenue less expenses$373,751
XI-4 Net assets at start of year$1,434,216
XI-9 Other changes in net assets$63,863
XI-10 Net assets at end of year$1,871,830

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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