Civic Intelligence

Alamance County Economic Development Foundation

990 • Fiscal year 2018 • EIN 20-2384314

Jan 01, 2018 to Dec 31, 2018 • Filed on Mar 18, 2019

Organization ProfileWWW.ALAMANCECHAMBER.COM
PO Box 450Burlington, NC 27216-0450

(336) 228-1338

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$1,085,992

Flat from 2018

Net Assets

Flat

$1,085,992

Flat from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses

Revenue

Flat

$428,719

Flat from 2018

Expenses

Flat

$247,454

Flat from 2018

Net Income

Flat

$181,265

Flat from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2010: $306,316Liabilities 2010: $0Net Assets 2010: $306,3162010Assets 2011: $207,331Liabilities 2011: $0Net Assets 2011: $207,3312011Assets 2012: $329,115Liabilities 2012: $0Net Assets 2012: $329,1152012Assets 2013: $459,026Liabilities 2013: $0Net Assets 2013: $459,0262013Assets 2014: $653,944Liabilities 2014: $0Net Assets 2014: $653,9442014Assets 2015: $910,462Liabilities 2015: $0Net Assets 2015: $910,4622015Assets 2016: $874,445Liabilities 2016: $0Net Assets 2016: $874,4452016Assets 2017: $904,727Liabilities 2017: $0Net Assets 2017: $904,7272017Assets 2018: $1,085,992Liabilities 2018: $0Net Assets 2018: $1,085,9922018Assets 2018: $1,085,992Liabilities 2018: $0Net Assets 2018: $1,085,9922018Assets 2019: $1,190,638Liabilities 2019: $0Net Assets 2019: $1,190,6382019Assets 2020: $1,293,689Liabilities 2020: $0Net Assets 2020: $1,293,6892020Assets 2021: $1,355,130Liabilities 2021: $0Net Assets 2021: $1,355,1302021Assets 2022: $1,452,224Liabilities 2022: $0Net Assets 2022: $1,452,2242022Assets 2023: $1,454,659Liabilities 2023: $0Net Assets 2023: $1,454,6592023Assets 2024: $1,482,470Liabilities 2024: $0Net Assets 2024: $1,482,4702024

Highlighted filing

2018

Assets$1,085,992
Liabilities$0
Net Assets$1,085,992
Open 2018 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2010: $131,475Expenses 2010: $150,777Net Income 2010: -$19,3022010Revenue 2011: $168,679Expenses 2011: $267,664Net Income 2011: -$98,9852011Expenses 2012: $246,5832012Revenue 2013: $444,887Expenses 2013: $314,976Net Income 2013: $129,9112013Revenue 2014: $417,193Expenses 2014: $222,275Net Income 2014: $194,9182014Revenue 2015: $403,443Expenses 2015: $146,925Net Income 2015: $256,5182015Revenue 2016: $310,444Expenses 2016: $346,461Net Income 2016: -$36,0172016Revenue 2017: $536,444Expenses 2017: $506,162Net Income 2017: $30,2822017Revenue 2018: $428,719Expenses 2018: $247,454Net Income 2018: $181,2652018Revenue 2018: $428,719Expenses 2018: $247,454Net Income 2018: $181,2652018Revenue 2019: $387,948Expenses 2019: $283,302Net Income 2019: $104,6462019Revenue 2020: $391,475Expenses 2020: $288,424Net Income 2020: $103,0512020Revenue 2021: $415,570Expenses 2021: $354,129Net Income 2021: $61,4412021Revenue 2022: $569,833Expenses 2022: $472,739Net Income 2022: $97,0942022Revenue 2023: $400,737Expenses 2023: $398,302Net Income 2023: $2,4352023Revenue 2024: $375,751Expenses 2024: $370,701Net Income 2024: $5,0502024

Highlighted filing

2018

Revenue$428,719
Expenses$247,454
Net Income$181,265
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Mar 18, 2019
Return Version
2018v3.1
Gross Receipts
$428,719
Mission and Program Overview

Mission

The mission of the foundation is to enhance the welfare of business and to promote and stimulate economic vitality in the alamance county area for the benefit of its members and the community.

To expand economic development efforts in alamance county, north carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$904,727$1,085,992▲ $181,265
Cash and Non-Interest-Bearing Accounts$710,651$891,923▲ $181,272
Savings and Temporary Cash Investments$193,875$194,069▲ $194
Land, Buildings, and Equipment, Net$201$0▼ $201
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$904,727$1,085,992▲ $181,265
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$904,727$1,085,992▲ $181,265
Total Liabilities and Net Assets / Fund Balance$904,727$1,085,992▲ $181,265

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$5,536$5,536
Compensation and Service Providers

Board Members and Trustees

NameTitle
Trip DurhamChair
David a Williams IiiPresident
Allen Gant JrDirector
Ed HooksDirector
Greg LunsfordDirector
Lisa PenningtonDirector
Paul KoontsDirector
Ted ChandlerDirector
Wade HarrisonDirector
Dale GreesonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$428,525
Program Service Revenue
$0
Investment Income
$194
Other Revenue
$0
All Other Contributions
$428,525
Change in Net Assets
$181,265
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$127,792
Grants and Similar Amounts Paid$78,377
Other Expenses$41,285
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$101,393--$101,393
Grants to Domestic Orgs$78,377--$78,377
Other Employee Benefits$13,866--$13,866
Fees for Services Other-$9,574-$9,574
Payroll Taxes$7,006--$7,006
Pension Plan Contributions$5,527--$5,527
Fees for Services Accounting-$3,315-$3,315
Advertising-$1,489-$1,489
All Other Expenses-$349-$349
Other Expenses$950$325-$325
Depreciation Depletion-$201-$201
Total Functional Expenses$207,119$40,335$0$247,454
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Advocates for Alamance Education IncBurlington, NC-This Support Will Be Allocated for the Purpose to Educate the Public, Businesses, and Elected Officials About the Benefits of Improving Education for the Future of Alamance County.$50,000
Teacher of the YearBurlington, NC-To Reimburse the Chamber for Excellence in Education Teacher of the Year Expenses.$18,925
Alamance Youth Leadership AcademyBurlington, NC-To Reimburse the Chamber for Alamance Youth Leadership Academy Expenses.$9,452
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The president of the alamance county economic development foundation, david williams, approves the form 990 prior to filing the return with the irs. The current treasurer reports to the board at a regularly scheduled meeting that the form 990 is ready for filing and if anyone has any questions, they will be addressed at this board meeting. The board then approves the form 990 at their next meeting. Once the board approves, the form 990 will be filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“Each employee is required to sign a conflict of interest policy document annually.”

Form 990, Part VI, Section C, Line 19

“All governing documents, the conflict of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Alamance County Economic Development
EIN
20-2384314
Phone
3362281338
Address
PO BOX 450, BURLINGTON, NC 27216-0450

Signing Officer

Name
David a Williams Iii
Title
President
Phone
3362281338
Signed
2019-03-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David a Williams Iii
Formed
2005
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
11

Preparer

Firm
Gilliam Coble & Moser Llp
Address
PO BOX 621, BURLINGTON, NC 27216-0621
Preparer
J Bradley Moser
Phone
3362276283
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0193
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0968
IRS990ScheduleA/InvestmentIncomeCYPct00.00050
IRS990ScheduleA/InvestmentIncomePYPct00.00050
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.34410
IRS990ScheduleA/PublicSupportPY509Pct00.33890
IRS990ScheduleA/PublicSupportTotal509Amt0712775
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt0258500
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt0351000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt0211500
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt0276500
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt0260000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt01357500
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0428525
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0536250
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0310250
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0403250
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0392000
IRS990ScheduleA/Total509Grp/TotalAmt02070275
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0428719
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0536444
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0310444
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0403443
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0392193
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02071243
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05536
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05536
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt09452
IRS990ScheduleI/RecipientTable/CashGrantAmt118925
IRS990ScheduleI/RecipientTable/CashGrantAmt250000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO REIMBURSE THE CHAMBER FOR ALAMANCE YOUTH LEADERSHIP ACADEMY EXPENSES.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO REIMBURSE THE CHAMBER FOR EXCELLENCE IN EDUCATION TEACHER OF THE YEAR EXPENSES.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2THIS SUPPORT WILL BE ALLOCATED FOR THE PURPOSE TO EDUCATE THE PUBLIC, BUSINESSES, AND ELECTED OFFICIALS ABOUT THE BENEFITS OF IMPROVING EDUCATION FOR THE FUTURE OF ALAMANCE COUNTY.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ALAMANCE YOUTH LEADERSHIP ACADEMY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1TEACHER OF THE YEAR
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2ADVOCATES FOR ALAMANCE EDUCATION INC
IRS990ScheduleI/RecipientTable/RecipientEIN0560156970
IRS990ScheduleI/RecipientTable/RecipientEIN1560156970
IRS990ScheduleI/RecipientTable/RecipientEIN2471498253
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 450
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1PO BOX 450
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2PO BOX 450
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BURLINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1BURLINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm2BURLINGTON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd0272160450
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd1272160450
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd2272160450
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE BOARD MEETS TO DISCUSS THE GRANTS AND DISCUSSES THE PARAMETERS FOR WHAT WILL BE IN AN OFFER LETTER. THE OFFER LETTER THEN SPELLS OUT ALL CONDITIONS AND METRICS THAT MUST BE MET WITH THE GRANT FUNDS PROVIDED BY THE FOUNDATION. THERE MUST BE EVIDENCE OF THE CONDITIONS AND METRICS BEING MET FOR THE GRANT TO BE PAID OUT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT OF THE ALAMANCE COUNTY ECONOMIC DEVELOPMENT FOUNDATION, DAVID WILLIAMS, APPROVES THE FORM 990 PRIOR TO FILING THE RETURN WITH THE IRS. THE CURRENT TREASURER REPORTS TO THE BOARD AT A REGULARLY SCHEDULED MEETING THAT THE FORM 990 IS READY FOR FILING AND IF ANYONE HAS ANY QUESTIONS, THEY WILL BE ADDRESSED AT THIS BOARD MEETING. THE BOARD THEN APPROVES THE FORM 990 AT THEIR NEXT MEETING. ONCE THE BOARD APPROVES, THE FORM 990 WILL BE FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH EMPLOYEE IS REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY DOCUMENT ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0904727
IRS990/TotalAssetsEOYAmt01085992
IRS990/TotalAssetsGrp/BOYAmt0904727
IRS990/TotalAssetsGrp/EOYAmt01085992
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0428525
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt040335
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0207119
IRS990/TotalFunctionalExpensesGrp/TotalAmt0247454
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0904727
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01085992
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0207119
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0194
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0428719
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0904727
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01085992
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 450
IRS990/USAddress/CityNm0BURLINGTON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd0272160450
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.ALAMANCECHAMBER.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID A WILLIAMS III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03362281338
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-18

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,085,992
Liabilities
$0
Net assets
$1,085,992
Revenue
$428,719
Expenses
$247,454
Net income
$181,265
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.48$0.00$1.48$0.38$0.37$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.40$0.40$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.57$0.47$0.10
2021Detailed filing. Detailed filing data is available for this year.$1.36$0.00$1.36$0.42$0.35$0.06
2020Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$0.39$0.29$0.10
2019Detailed filing. Detailed filing data is available for this year.$1.19$0.00$1.19$0.39$0.28$0.10
2018Detailed filing. Detailed filing data is available for this year.$1.09$0.00$1.09$0.43$0.25$0.18
2018Detailed filing. Detailed filing data is available for this year.$1.09$0.00$1.09$0.43$0.25$0.18
2017Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$0.54$0.51$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.87$0.00$0.87$0.31$0.35$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.91$0.40$0.15$0.26
2014Detailed filing. Detailed filing data is available for this year.$0.65$0.00$0.65$0.42$0.22$0.19
2013Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$0.44$0.31$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.00$0.33$0.25
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.00$0.21$0.17$0.27$0.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.31$0.00$0.31$0.13$0.15$0.02