Civic Intelligence

Hornets Nest Region Foundation Inc

EIN 20-8742019 • 501(c)3 • Charlotte, NC

Profile

The purpose for which the corporation is organized is to establish, fund and maintain educational scholarships for automotive related career educational needs, including, but not limited to automotive engineering, research, restoration and repair and to make donations to related tax exempt organizations.

9307-h Monroe RoadCharlotte, NC 28270

n/A

Siviq Scores

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

Liabilities / Assets

71st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

NTEE B • <$500k nonprofits • Source year 2023

Liabilities / Revenue

72nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

NTEE B • <$500k nonprofits • Source year 2023

Net Margin

6th percentile

-132%

Higher net margin than 6% of similar nonprofits.

NTEE B • <$500k nonprofits • Source year 2023

Top Officer Pay

88th percentile

$0

Higher top officer pay than 88% of similar nonprofits.

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

NTEE B • <$500k nonprofits • Source year 2023

Asset Growth

23rd percentile

-20%

Faster asset growth than 23% of similar nonprofits.

NTEE B • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

15th percentile

-51%

Faster revenue growth than 15% of similar nonprofits.

NTEE B • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$60,123

Down $14,976 (-20%) from 2022

Liabilities

Flat

$0

Flat from 2022

Net Assets

Down

$60,123

Down $14,976 (-20%) from 2022

Revenue

Down

$11,358

Down $11,744 (-51%) from 2022

Expenses

Up

$26,334

Up $1,599 (+6.5%) from 2022

Net Income

Down

-$14,976

Down $13,343 (-817%) from 2022

Trend Graphs

Balance Sheet Trend

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

$100K$50K$0Assets 2010: $22,263Liabilities 2010: $0Net Assets 2010: $22,2632010Assets 2011: $24,473Liabilities 2011: $0Net Assets 2011: $24,4732011Assets 2012: $22,150Liabilities 2012: $0Net Assets 2012: $22,1502012Assets 2013: $19,321Liabilities 2013: $0Net Assets 2013: $19,3212013Assets 2014: $88,128Liabilities 2014: $0Net Assets 2014: $88,1282014Assets 2015: $92,793Liabilities 2015: $0Net Assets 2015: $92,7932015Assets 2016: $81,204Liabilities 2016: $0Net Assets 2016: $81,2042016Assets 2017: $80,101Liabilities 2017: $0Net Assets 2017: $80,1012017Assets 2018: $98,797Liabilities 2018: $0Net Assets 2018: $98,7972018Assets 2019: $72,022Liabilities 2019: $0Net Assets 2019: $72,0222019Assets 2020: $99,127Liabilities 2020: $0Net Assets 2020: $99,1272020Assets 2021: $76,732Liabilities 2021: $0Net Assets 2021: $76,7322021Assets 2022: $75,099Liabilities 2022: $0Net Assets 2022: $75,0992022Assets 2023: $60,123Liabilities 2023: $0Net Assets 2023: $60,1232023

Highlighted filing

2023

Assets$60,123
Liabilities$0
Net Assets$60,123

Operations Trend

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

$150K$100K$50K$0-$50KExpenses 2010: $40,1422010Expenses 2011: $42,9042011Expenses 2012: $49,1742012Revenue 2013: $43,561Expenses 2013: $46,390Net Income 2013: -$2,8292013Revenue 2014: $143,738Expenses 2014: $74,931Net Income 2014: $68,8072014Revenue 2015: $52,393Expenses 2015: $47,728Net Income 2015: $4,6652015Revenue 2016: $31,077Expenses 2016: $42,666Net Income 2016: -$11,5892016Revenue 2017: $23,580Expenses 2017: $24,683Net Income 2017: -$1,1032017Revenue 2018: $73,871Expenses 2018: $55,175Net Income 2018: $18,6962018Revenue 2019: $81,245Expenses 2019: $108,020Net Income 2019: -$26,7752019Revenue 2020: $46,365Expenses 2020: $19,260Net Income 2020: $27,1052020Revenue 2021: $194Expenses 2021: $22,589Net Income 2021: -$22,3952021Revenue 2022: $23,102Expenses 2022: $24,735Net Income 2022: -$1,6332022Revenue 2023: $11,358Expenses 2023: $26,334Net Income 2023: -$14,9762023

Highlighted filing

2023

Revenue$11,358
Expenses$26,334
Net Income-$14,976

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.60$0.00$0.60$0.11$0.26$0.15
2022Detailed filing. Detailed filing data is available for this year.$0.75$0.00$0.75$0.23$0.25$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.77$0.00$0.77$0.00$0.23$0.22
2020Detailed filing. Detailed filing data is available for this year.$0.99$0.00$0.99$0.46$0.19$0.27
2019Detailed filing. Detailed filing data is available for this year.$0.72$0.00$0.72$0.81$1.08$0.27
2018Detailed filing. Detailed filing data is available for this year.$0.99$0.00$0.99$0.74$0.55$0.19
2017Detailed filing. Detailed filing data is available for this year.$0.80$0.00$0.80$0.24$0.25$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.81$0.00$0.81$0.31$0.43$0.12
2015Detailed filing. Detailed filing data is available for this year.$0.93$0.00$0.93$0.52$0.48$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.88$0.00$0.88$1.44$0.75$0.69
2013Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.19$0.44$0.46$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.00$0.22$0.49
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.24$0.00$0.24$0.43
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.00$0.22$0.40
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 6, 2024
Return Version
2023v5.0
Gross Receipts
$11,358
Mission and Program Overview

Mission

The purpose for which the corporation is organized is to establish, fund and maintain educational scholarships for automotive related career educational needs, including, but not limited to automotive engineering, research, restoration and repair and to make donations to related tax exempt organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$75,099$60,123▼ $14,976
Total Assets$75,099$60,123▼ $14,976
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$75,099$60,123▼ $14,976
Total Net Assets Fund Balance$75,099$60,123▼ $14,976
Total Liabilities and Net Assets / Fund Balance$75,099$60,123▼ $14,976
Compensation and Service Providers

Board Members and Trustees

NameTitle
Greg JacksonPresident
Amy TetraultDirector
Cheryl ColeDirector
Dale FisherDirector
Darrell PageDirector
Ed KaleDirector
Gayle BolesDirector
Joe MarchandDirector
Johnny YarboroughDirector
Mike MunaoDirector
Tim CrosswhiteDirector
Wayne FowlerDirector
Melvin CarsonExecutive Di
Revenue and Support

Revenue Composition

Contributions and Grants
$11,275
Program Service Revenue
$0
Investment Income
$83
Other Revenue
$0
All Other Contributions
$11,275
Change in Net Assets
$-14,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$26,334
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$500--$500
Total Functional Expenses$26,334$0$0$26,334
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
Backup withholding compliance
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

All governing body members are elected based on their experience and willingness to participate in the organization's exempt purpose by a vote of all members.

Form 990, Page 6, Part VI, Line 7B

When required, members are allowed to vote on issues affecting the organization. Each member gets one vote.

Form 990, Page 6, Part VI, Line 11B

Form 990 was reviewed and agreed upon by the entire board of directors before its filing.

Form 990, Page 6, Part VI, Line 12C

If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or potential conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or potential conflict of interest, it shall take appropriate disciplinary and corrective action.

Form 990, Page 6, Part VI, Line 19

Governing documents, conflict of interest policy, and financial statements are available for inspection at foundation's office between the hours of 8-5 monday through friday. The executive director has been given instructions to allow inspection during these times.

Filing and Contact Details

Filer

Filer Name
Hornets Nest Region Foundation Inc
EIN
20-8742019
Phone
7048474215
Address
9307-H MONROE ROAD, CHARLOTTE, NC 28270

Signing Officer

Name
Melvin Carson
Title
Executive Director
Phone
7048474215
Signed
2024-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melvin Carson
Formed
2007
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
1,292

Preparer

Firm
Derek K Atwell CPA Pllc
Address
2593 W ROOSEVELT BLVD STE 205, MONROE, NC 28110-0459
Preparer
Derek K Atwell
Phone
7046357519
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The purpose for which the corporation is organized is to establish, fund and maintain educational scholarships for automotive related career educational needs, including, but not limited to automotive engineering, research, restoration and repair and to make donations to related tax exempt organizations.

Form 990, Page 1, Part I, Line 6

Volunteers help raise funds for education and community service related to the preservation of antique automobiles. They help with silent auctions and events. Volunteers handle all events.

Raw XML Appendix379 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PURPOSE FOR WHICH THE CORPORATION IS ORGANIZED IS TO ESTABLISH, FUND AND MAINTAIN EDUCATIONAL SCHOLARSHIPS FOR AUTOMOTIVE RELATED CAREER EDUCATIONAL NEEDS, INCLUDING, BUT NOT LIMITED TO AUTOMOTIVE ENGINEERING, RESEARCH, RESTORATION AND REPAIR AND TO MAKE DONATIONS TO RELATED TAX EXEMPT ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VOLUNTEERS HELP RAISE FUNDS FOR EDUCATION AND COMMUNITY SERVICE RELATED TO THE PRESERVATION OF ANTIQUE AUTOMOBILES. THEY HELP WITH SILENT AUCTIONS AND EVENTS. VOLUNTEERS HANDLE ALL EVENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING BODY MEMBERS ARE ELECTED BASED ON THEIR EXPERIENCE AND WILLINGNESS TO PARTICIPATE IN THE ORGANIZATION'S EXEMPT PURPOSE BY A VOTE OF ALL MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WHEN REQUIRED, MEMBERS ARE ALLOWED TO VOTE ON ISSUES AFFECTING THE ORGANIZATION. EACH MEMBER GETS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990 WAS REVIEWED AND AGREED UPON BY THE ENTIRE BOARD OF DIRECTORS BEFORE ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION AT FOUNDATION'S OFFICE BETWEEN THE HOURS OF 8-5 MONDAY THROUGH FRIDAY. THE EXECUTIVE DIRECTOR HAS BEEN GIVEN INSTRUCTIONS TO ALLOW INSPECTION DURING THESE TIMES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/USAddress/AddressLine1Txt01927 CARMEL RIDGE ROAD
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MELVIN CARSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07048474215
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HORNETS NEST REGION FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0HORN
ReturnHeader/Filer/EIN0208742019
ReturnHeader/Filer/PhoneNum07048474215
ReturnHeader/Filer/USAddress/AddressLine1Txt09307-H MONROE ROAD
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DEREK K ATWELL CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02593 W ROOSEVELT BLVD STE 205
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MONROE
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DEREK K ATWELL
ReturnHeader/ReturnTs02024-11-11T14:43:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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