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LOCUS IMPACT FUND

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Public IRS 990 nonprofit record

LOCUS IMPACT FUND

EIN 54-1754009 · Business & Industry (S40)

What they do

OUR MISSION is to OFFER INNOVATIVE, FLEXIBLE FINANCIAL PRODUCTS DESIGNED to SUPPORT HOUSING and COMMUNITY DEVELOPMENT VENTURES, INCREASE JOBS and BUILD SUSTAINABLE COMMUNITIES. LOCUS IMPACT FUND OFFERS LOAN CAPITAL THAT is BROADER THAN BANK LENDING to PROJECTS THAT HAVE A POSITIVE IMPACT IN LOW to MODERATE INCOME COMMUNITIES IN UNDERSERVED GEOGRAPHIES and MARKETS.

Before you give

Should I give to this charity?

Easy charity check
Look at where the money went

Of every $100 spent, about $80.00 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders24 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

72.69%of revenue went to mission work80.0% of expenses · Program services
$90.88spent for every $100 of revenueRevenue covered expenses this year.
18.19%of revenue went to management and office costs20.0% of expenses
$9.13in assets for every $1 spent this yearSome assets cannot be spent right away.
57.5%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

  1. Who did you help? Ask for a recent story or report that shows real results.
  2. What will my money do? Ask exactly what your gift will pay for.
  3. Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $207,822 for CLYDE CORNETT (CHIEF FINANCIAL OFFICER). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$10,759,380
Mission workProgram services$7,821,23172.69% of revenue80.0% of expenses
ManagementOffice and general costs$1,956,84718.19% of revenue20.0% of expenses
FundraisingAsking for donations0.00% of revenue0.0% of expenses
Revenue left after expensesReported annual surplus$981,3029.12% of revenueShown in gray on the chart
Total expenses$9,778,07890.88% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails
2024CurrentExpense mix: 80.0% mission · 20.0% management · 0.0% fundraisingTotal expenses: 90.88% of revenue
2023Expense mix: 78.5% mission · 21.5% management · 0.0% fundraisingTotal expenses: 90.40% of revenue
2022Expense mix: 80.4% mission · 19.6% management · 0.0% fundraisingTotal expenses: 53.34% of revenue
2021Expense mix: 83.6% mission · 16.4% management · 0.0% fundraisingTotal expenses: 62.50% of revenue
2020Expense mix: 84.4% mission · 15.6% management · 0.0% fundraisingTotal expenses: 68.51% of revenue
2019Expense mix: 83.0% mission · 17.0% management · 0.0% fundraisingTotal expenses: 84.72% of revenue
2018Expense mix: 71.6% mission · 28.4% management · 0.0% fundraisingTotal expenses: 67.89% of revenue
2017Expense mix: 73.9% mission · 26.1% management · 0.0% fundraisingTotal expenses: 83.87% of revenue

Money in and money out

Revenue$10,759,380
Expenses$9,778,078
Annual surplus $981,302 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$7,821,231 · 80.0% of expenses
Management and office costs$1,956,847 · 20.0% of expenses
See all reported dollar amounts
Revenue$10,759,380
Expenses$9,778,078
Assets$89,280,183
Income$10,759,380
Contributions$6,190,834
Mission work (program services)$7,821,231
Grants given$2,954,042
Average grant$89,516
Management and general$1,956,847
Accounting fees$43,685
People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation
CLYDE CORNETTCHIEF FINANCIAL OFFICER · 17 hrs/week $207,822Base $196,296 · Other $11,526
JAMES BAEKSR. VICE PRESIDENT, CIGP · 39 hrs/week $194,284Base $185,068 · Other $9,216
WILLIAM GREENLEAFEXECUTIVE DIRECTOR, IMPACT LENDING · 17 hrs/week $148,999Base $141,622 · Other $7,377
PETER TAYLORCHIEF INFORMATION OFFICER · 17 hrs/week $125,384Base $117,900 · Other $7,484
ANGELA C ZENONCHIEF GROWTH AND STRATEGY OFFICER · 17 hrs/week $123,643Base $117,538 · Other $6,105
CAROLINE NOWERYCHIEF EXTERNAL AFFAIR OFFICER, SVP · 17 hrs/week $118,065Base $110,265 · Other $7,800
TAMMY JACKSONCHIEF HUMAN CAPITAL OFFICER, SVP · 17 hrs/week $111,850Base $105,763 · Other $6,087
HOSHEUS ISAACCHIEF CREDIT OFFICER · 17 hrs/week $86,992
ASHLEY N COLEMANASSISTANT SECRETARY · 17 hrs/week $84,586Base $78,632 · Other $5,954
AMIR KIRKWOODPRESIDENT & CEO · 17 hrs/week $70,875
ERNEST MADDYSR. RELATIONSHIP MANAGER III, AFFORDABLE HOUSING L · 17 hrs/week $65,593Base $60,181 · Other $5,412
STACEY ANTONELLI-CHRISTENSENSECRETARY · 17 hrs/week $37,177Base $35,718 · Other $1,459

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (24)

CLYDE CORNETTCHIEF FINANCIAL OFFICER

JAMES BAEKSR. VICE PRESIDENT, CIGP

WILLIAM GREENLEAFEXECUTIVE DIRECTOR, IMPACT LENDING

PETER TAYLORCHIEF INFORMATION OFFICER

ANGELA C ZENONCHIEF GROWTH AND STRATEGY OFFICER

CAROLINE NOWERYCHIEF EXTERNAL AFFAIR OFFICER, SVP

TAMMY JACKSONCHIEF HUMAN CAPITAL OFFICER, SVP

HOSHEUS ISAACCHIEF CREDIT OFFICER

ASHLEY N COLEMANASSISTANT SECRETARY

AMIR KIRKWOODPRESIDENT & CEO

ERNEST MADDYSR. RELATIONSHIP MANAGER III, AFFORDABLE HOUSING L

STACEY ANTONELLI-CHRISTENSENSECRETARY

JACKIE PUENTEDIRECTOR

AKSHAY NANDAKUMARDIRECTOR

MARY DWYER PEMBROKEDIRECTOR

KIM ARMSTRONGDIRECTOR

CATHY DOLANDIRECTOR

FLORENCE KINGSTONDIRECTOR

DIXON HANNACHAIRMAN

DAVID EDWARDSDIRECTOR

JAMES HARKNESSDIRECTOR

CHARLIE H MILLS IIIDIRECTOR

SHERRY MAGILLDIRECTOR

WILLIAM SHELTONDIRECTOR

About this charity

Recognized since
January 1999
Location
110 PEPPERS FRY RD NW, CHRISTIANSBRG, VA 24073-1068
County
Montgomery
In care of
CLYDE A CORNETT JR
Primary officer
CLYDE A CORNETT JR, CFO

How to reach them

WebsiteVisit the charity’s website Phone(540) 260-3126

Filing and classification

Latest tax year
2024
Tax period began
January 1, 2024
Return type
990
Tax preparer
BROWN EDWARDS & COMPANY LLP
NTEE classification
Business & Industry (S40)
IRS tax category
Business & Industry
Grant-giving organization
Yes

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About this report: Information comes from public nonprofit records and may show the latest filing available.

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