Civic Intelligence

Kerr-Tar Regional Economic Development

EIN 20-3115014 • 501(c)3 • Henderson, NC

Profile

The corporation was formed for the purpose of promoting and supporting economic and community development activities in the following four north carolina counties: franklin, granville, vance and warren.

1724 Graham Ave PO Box 709Henderson, NC 27536

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

78th percentile

0.64x

Higher debt load relative to assets than 78% of similar nonprofits.

NTEE S • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

91st percentile

8.35x

Higher debt load relative to revenue than 91% of similar nonprofits.

NTEE S • $5M-$10M nonprofits • Source year 2025

Net Margin

1st percentile

-1160%

Higher net margin than 1% of similar nonprofits.

NTEE S • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

28th percentile

$0

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE S • $5M-$10M nonprofits • Source year 2025

Asset Growth

1st percentile

-55%

Faster asset growth than 1% of similar nonprofits.

NTEE S • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

79th percentile

49%

Faster revenue growth than 79% of similar nonprofits.

NTEE S • $5M-$10M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$5,919,295

Down $7,128,966 (-55%) from 2024

Liabilities

Down

$3,779,648

Down $1,880,804 (-33%) from 2024

Net Assets

Down

$2,139,647

Down $5,248,162 (-71%) from 2024

Operations
Liabilities / Revenue91st percentileNet Margin1st percentile

Revenue

Up

$452,517

Up $148,970 (+49%) from 2024

Expenses

Up

$5,700,679

Up $5,306,182 (+1345%) from 2024

Net Income

Down

-$5,248,162

Down $5,157,212 (-5670%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth1st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2011: $15,897,157Liabilities 2011: $14,117,587Net Assets 2011: $1,779,5702011Assets 2012: $15,020,443Liabilities 2012: $13,817,587Net Assets 2012: $1,202,8562012Assets 2013: $13,524,513Liabilities 2013: $12,182,132Net Assets 2013: $1,342,3812013Assets 2014: $13,796,005Liabilities 2014: $12,182,132Net Assets 2014: $1,613,8732014Assets 2015: $13,655,831Liabilities 2015: $12,107,132Net Assets 2015: $1,548,6992015Assets 2016: $13,593,051Liabilities 2016: $12,107,132Net Assets 2016: $1,485,9192016Assets 2017: $13,591,835Liabilities 2017: $12,108,132Net Assets 2017: $1,483,7032017Assets 2018: $13,569,184Liabilities 2018: $6,306,202Net Assets 2018: $7,262,9822018Assets 2019: $13,565,895Liabilities 2019: $6,280,634Net Assets 2019: $7,285,2612019Assets 2020: $13,463,628Liabilities 2020: $6,216,683Net Assets 2020: $7,246,9452020Assets 2021: $13,639,021Liabilities 2021: $6,103,544Net Assets 2021: $7,535,4772021Assets 2022: $13,582,772Liabilities 2022: $6,103,544Net Assets 2022: $7,479,2282022Assets 2023: $13,264,104Liabilities 2023: $5,785,345Net Assets 2023: $7,478,7592023Assets 2024: $13,048,261Liabilities 2024: $5,660,452Net Assets 2024: $7,387,8092024Assets 2025: $5,919,295Liabilities 2025: $3,779,648Net Assets 2025: $2,139,6472025

Highlighted filing

2025

Assets$5,919,295
Liabilities$3,779,648
Net Assets$2,139,647
Open 2025 Filing

Operations Trend

Revenue Growth79th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0M-$10MRevenue 2011: $319,855Expenses 2011: $575,063Net Income 2011: -$255,2082011Revenue 2012: $750,847Expenses 2012: $1,327,561Net Income 2012: -$576,7142012Revenue 2013: $1,177,841Expenses 2013: $1,038,316Net Income 2013: $139,5252013Revenue 2014: $1,209,148Expenses 2014: $937,656Net Income 2014: $271,4922014Revenue 2015: $148,787Expenses 2015: $213,961Net Income 2015: -$65,1742015Revenue 2016: $153,807Expenses 2016: $216,587Net Income 2016: -$62,7802016Revenue 2017: $154,911Expenses 2017: $157,127Net Income 2017: -$2,2162017Revenue 2018: $5,947,456Expenses 2018: $168,177Net Income 2018: $5,779,2792018Revenue 2019: $362,406Expenses 2019: $340,127Net Income 2019: $22,2792019Revenue 2020: $266,592Expenses 2020: $304,908Net Income 2020: -$38,3162020Revenue 2021: $591,746Expenses 2021: $303,214Net Income 2021: $288,5322021Revenue 2022: $204,730Expenses 2022: $263,703Net Income 2022: -$58,9732022Revenue 2023: $279,831Expenses 2023: $280,300Net Income 2023: -$4692023Revenue 2024: $303,547Expenses 2024: $394,497Net Income 2024: -$90,9502024Revenue 2025: $452,517Expenses 2025: $5,700,679Net Income 2025: -$5,248,1622025

Highlighted filing

2025

Revenue$452,517
Expenses$5,700,679
Net Income-$5,248,162
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$5,919,295
Liabilities
$3,779,648
Net assets
$2,139,647
Revenue
$452,517
Expenses
$5,700,679
Net income
-$5,248,162
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.92$3.78$2.14$0.45$5.70$5.25
2024Detailed filing. Detailed filing data is available for this year.$13.0$5.66$7.39$0.30$0.39$0.09
2023Detailed filing. Detailed filing data is available for this year.$13.3$5.79$7.48$0.28$0.28$0.00
2022Detailed filing. Detailed filing data is available for this year.$13.6$6.10$7.48$0.20$0.26$0.06
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.6$6.10$7.54$0.59$0.30$0.29
2020Detailed filing. Detailed filing data is available for this year.$13.5$6.22$7.25$0.27$0.30$0.04
2019Detailed filing. Detailed filing data is available for this year.$13.6$6.28$7.29$0.36$0.34$0.02
2018Detailed filing. Detailed filing data is available for this year.$13.6$6.31$7.26$5.95$0.17$5.78
2017Detailed filing. Detailed filing data is available for this year.$13.6$12.1$1.48$0.15$0.16$0.00
2016Detailed filing. Detailed filing data is available for this year.$13.6$12.1$1.49$0.15$0.22$0.06
2015Detailed filing. Detailed filing data is available for this year.$13.7$12.1$1.55$0.15$0.21$0.07
2014Summary only. Only limited summary data is available for this year.$13.8$12.2$1.61$1.21$0.94$0.27
2013Summary only. Only limited summary data is available for this year.$13.5$12.2$1.34$1.18$1.04$0.14
2012Summary only. Only limited summary data is available for this year.$15.0$13.8$1.20$0.75$1.33$0.58
2011Summary only. Only limited summary data is available for this year.$15.9$14.1$1.78$0.32$0.58$0.26
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Oct 22, 2025
Return Version
2024v5.2
Gross Receipts
$452,517
Mission and Program Overview

Mission

The corporation was formed for the purpose of promoting and supporting economic and community development activities in the following four north carolina counties: franklin, granville, vance and warren.

The corporation was formed for the purpose of promoting and supporting economic and community

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$780,751$704,217▼ $76,534
Total Assets$13,048,261$5,919,295▼ $7,128,966
Other Assets Total$12,267,510$5,215,078▼ $7,052,432
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,660,452$3,768,164▼ $1,892,288
Accounts Payable and Accrued Expenses-$11,484-
Total Liabilities$5,660,452$3,779,648▼ $1,880,804
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,387,809$2,139,647▼ $5,248,162
Total Net Assets Fund Balance$7,387,809$2,139,647▼ $5,248,162
Total Liabilities and Net Assets / Fund Balance$13,048,261$5,919,295▼ $7,128,966

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$5,215,078--
Compensation and Service Providers
Top Officer Pay28th percentile

Board Members and Trustees

NameTitle
-Chairman
-President
Tim KaranVice Chairman
Abdul RasheedBoard Member
Adam McconnellBoard Member
Ali CooperBoard Member
Jennifer Jordan-pierceBoard Member
John AlstonBoard Member
Keith SmithBoard Member
Leslie ScottBoard Member
Mark SpeedBoard Member
Robert FlemingBoard Member
Shane MitchellBoard Member
Victor HuntBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$263,000
Program Service Revenue
$0
Investment Income
$2,679
Other Revenue
$186,838
Change in Net Assets
$-5,248,162

Audited Revenue Reconciliation

Revenue per Audited Statements
$452,517
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$452,517
Total Revenue per Form 990
$452,517
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,700,679
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$54,178$53,064-$107,242
Total Functional Expenses$5,647,615$53,064$0$5,700,679

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Expenses per Audited Statements$0
Total Expenses per Audited Statements$0
Total Expenses per Form 990$0
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
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization has contracted with an outside consulting service to assume the representation and leadership position on behalf of the board of directors and provide administrative oversight of daily operations.”

Form 990, Part VI, Section A, Line 8B

“The organization has no such committees.”

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

“The executive director reviews the form 990 with financial accounting records before filing.”

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

“The "conflict of interest" policy was developed when the corporation was created. All involved are required, by policy, to acknowledge annually. The corporation consistently monitors contracts and pay requests to insure compliance with policy.”

Form 990, Part VI, Section C, Line 19

“All documents are held in the custody of kerr-tar regional cog. Requests for any public information are honored when received in writing.”

Filing and Contact Details

Filer

Filer Name
Kerr-tar Regional Economic Development
EIN
20-3115014
Phone
2524362040
Address
1724 GRAHAM AVE PO BOX 709, HENDERSON, NC 27536

Signing Officer

Name
Dan Brummitt
Title
Chairman
Phone
9196914783
Signed
2025-10-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dan Brummitt
Formed
2005
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
0

Preparer

Firm
Thompson Price Scott Adams & Co
Address
4024 OLEANDER DRIVE SUITE 3, WILMINGTON, NC 28403
Preparer
Gregory S Adams
Phone
9107994872
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization did not change its oversight process from prior year.”

Financial Statement Notes

PART X, LINE 2:

“The organization has implemented accounting requirements associated with uncertainty in income taxes using provisions of fasb asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of the date of the independent auditor's report, the organization has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. The corporation's income tax returns for 2017 through 2021 are open for examination by the tax authorities.”

Raw XML AppendixShowing 400 of 415 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0THE CORPORATION WAS FORMED FOR THE PURPOSE OF PROMOTING AND SUPPORTING ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES IN THE FOLLOWING FOUR NORTH CAROLINA COUNTIES: FRANKLIN, GRANVILLE, VANCE AND WARREN.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt05660452
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt03768164
IRS990/NetAssetsOrFundBalancesBOYAmt07387809
IRS990/NetAssetsOrFundBalancesEOYAmt02139647
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt07387809
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02139647
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt012267510
IRS990/OtherAssetsTotalGrp/EOYAmt05215078
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0CAPITAL EXPENSES
IRS990/OtherExpensesGrp/Desc1INCREMENTAL TAX
IRS990/OtherExpensesGrp/Desc2ADMINISTRATION SERVICE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt053064
IRS990/OtherExpensesGrp/ProgramServicesAmt05407411
IRS990/OtherExpensesGrp/ProgramServicesAmt1186026
IRS990/OtherExpensesGrp/ProgramServicesAmt254178
IRS990/OtherExpensesGrp/TotalAmt05407411
IRS990/OtherExpensesGrp/TotalAmt1186026
IRS990/OtherExpensesGrp/TotalAmt2107242
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0INCREMENTAL TAX REVENU
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0186026
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1812
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0186026
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1812
IRS990/OtherRevenueTotalAmt0186838
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0DAN BRUMMITT
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0INCREMENTAL TAX DISBURSEMENTS TO PROMOTE AND SUPPORT ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES IN THE FOLLOWING FOUR NORTH CAROLINA COUNTIES: FRANKLIN, GRANVILLE, VANCE AND WARREN.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0186026
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0186026
IRS990/ProgSrvcAccomActy3Grp/Desc0LAND TRANSFER TO POPLAR CREEK PARTNERS
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt05203030
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0263000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03453
IRS990/PYOtherExpensesAmt0394497
IRS990/PYOtherRevenueAmt037094
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-90950
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0394497
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0303547
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-5248162
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0191000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0263000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0263000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0263000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0163000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0178355
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01130355
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02679
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt03453
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt03899
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0667
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01185
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt011883
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0186838
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt037094
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt012932
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt041063
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt020845
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0298772
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.78440
IRS990ScheduleA/PublicSupportPY170Pct00.85280
IRS990ScheduleA/PublicSupportTotal170Amt01130355
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0263000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0263000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0263000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0163000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0178355
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01130355
IRS990ScheduleA/TotalSupportAmt01441010
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05215078
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND AND LAND IMPROVEMENT
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0452517
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS IMPLEMENTED ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING PROVISIONS OF FASB ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF THE DATE OF THE INDEPENDENT AUDITOR'S REPORT, THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CORPORATION'S INCOME TAX RETURNS FOR 2017 THROUGH 2021 ARE OPEN FOR EXAMINATION BY THE TAX AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt05215078
IRS990ScheduleD/TotalExpensesPerForm990Amt00
IRS990ScheduleD/TotalRevenuePerForm990Amt0452517
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0452517
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS CONTRACTED WITH AN OUTSIDE CONSULTING SERVICE TO ASSUME THE REPRESENTATION AND LEADERSHIP POSITION ON BEHALF OF THE BOARD OF DIRECTORS AND PROVIDE ADMINISTRATIVE OVERSIGHT OF DAILY OPERATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS NO SUCH COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR REVIEWS THE FORM 990 WITH FINANCIAL ACCOUNTING RECORDS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE "CONFLICT OF INTEREST" POLICY WAS DEVELOPED WHEN THE CORPORATION WAS CREATED. ALL INVOLVED ARE REQUIRED, BY POLICY, TO ACKNOWLEDGE ANNUALLY. THE CORPORATION CONSISTENTLY MONITORS CONTRACTS AND PAY REQUESTS TO INSURE COMPLIANCE WITH POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL DOCUMENTS ARE HELD IN THE CUSTODY OF KERR-TAR REGIONAL COG. REQUESTS FOR ANY PUBLIC INFORMATION ARE HONORED WHEN RECEIVED IN WRITING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt013048261
IRS990/TotalAssetsEOYAmt05919295
IRS990/TotalAssetsGrp/BOYAmt013048261
IRS990/TotalAssetsGrp/EOYAmt05919295
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0263000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt053064
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05647615
IRS990/TotalFunctionalExpensesGrp/TotalAmt05700679
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05660452
IRS990/TotalLiabilitiesEOYAmt03779648
IRS990/TotalLiabilitiesGrp/BOYAmt05660452
IRS990/TotalLiabilitiesGrp/EOYAmt03779648
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07387809
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02139647
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt05647615
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02679
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0186838
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0452517
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt013048261
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05919295
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0207 HOLLY DRIVE
IRS990/USAddress/CityNm0OXFORD
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027565
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAN BRUMMITT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum09196914783
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KERR-TAR REGIONAL ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0KERR
ReturnHeader/Filer/EIN0203115014
ReturnHeader/Filer/PhoneNum02524362040
ReturnHeader/Filer/USAddress/AddressLine1Txt01724 GRAHAM AVE PO BOX 709
ReturnHeader/Filer/USAddress/CityNm0HENDERSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027536

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