Civic Intelligence

Durham Economic Resource Center

EIN 26-3742480 • 501(c)3 • Durham, NC

View Organization Page

Profile

To address adult poverty in Durham County by providing low-cost merchandise to nonprofit agencies and on-the-job training to the unemployed and hard-to-employ and by building and developing strategic partnerships to help address the root causes of poverty.

904 N Roxboro StDurham, NC 27701

www.durhameconomicresourcecenter.org

Siviq Scores

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

Liabilities / Assets

97th percentile

2.67x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

0.16x

Higher debt load relative to revenue than 85% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

22nd percentile

-22%

Higher net margin than 22% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

17th percentile

-51%

Faster asset growth than 17% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

36th percentile

-14%

Faster revenue growth than 36% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$26,961

Down $28,474 (-51%) from 2014

Liabilities

Up

$71,970

Up $70,541 (+4936%) from 2014

Net Assets

Down

-$45,009

Down $99,015 (-183%) from 2014

Operations
Liabilities / Revenue85th percentileNet Margin22nd percentile

Revenue

Down

$445,445

Down $73,128 (-14%) from 2014

Expenses

Up

$544,460

Up $36,360 (+7.2%) from 2014

Net Income

Down

-$99,015

Down $109,488 (-1045%) from 2014

Trend Graphs

Balance Sheet Trend

Asset Growth17th percentile

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

$100K$50K$0-$50KAssets 2012: $15,835Liabilities 2012: $0Net Assets 2012: $15,8352012Assets 2013: $45,403Liabilities 2013: $1,870Net Assets 2013: $43,5332013Assets 2014: $55,435Liabilities 2014: $1,429Net Assets 2014: $54,0062014Assets 2015: $26,961Liabilities 2015: $71,970Net Assets 2015: -$45,0092015

Highlighted filing

2015

Assets$26,961
Liabilities$71,970
Net Assets-$45,009
Open 2015 Filing

Operations Trend

Revenue Growth36th percentile

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

$600K$400K$200K$0-$200KExpenses 2012: $396,3852012Revenue 2013: $455,042Expenses 2013: $420,509Net Income 2013: $34,5332013Revenue 2014: $518,573Expenses 2014: $508,100Net Income 2014: $10,4732014Revenue 2015: $445,445Expenses 2015: $544,460Net Income 2015: -$99,0152015

Highlighted filing

2015

Revenue$445,445
Expenses$544,460
Net Income-$99,015
Open 2015 Filing

Filings

Most recent year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,961
Liabilities
$71,970
Net assets
-$45,009
Revenue
$445,445
Expenses
$544,460
Net income
-$99,015
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.27$0.72$0.45$4.45$5.44$0.99
2014Detailed filing. Detailed filing data is available for this year.$0.55$0.01$0.54$5.19$5.08$0.10
2013Detailed filing. Detailed filing data is available for this year.$0.45$0.02$0.44$4.55$4.21$0.35
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.16$0.00$0.16$3.96
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 15, 2016
Return Version
2015v2.0
Gross Receipts
$445,445
Mission and Program Overview

Mission

To address adult poverty in Durham County by providing low-cost merchandise to nonprofit agencies and on-the-job training to the unemployed and hard-to-employ and by building and developing strategic partnerships to help address the root causes of poverty.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$49,403$22,815▼ $26,588
Prepaid Expenses and Deferred Charges$3,000$3,000→ $0
Accounts Receivable$3,032$946▼ $2,086
Other Notes and Loans Receivable, Net-$200-
Savings and Temporary Cash Investments-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$55,435$26,961▼ $28,474
Other Assets Total-$0-
Liabilities
Other Liabilities-$45,524-
Accounts Payable and Accrued Expenses$1,429$26,446▲ $25,017
Total Liabilities$1,429$71,970▲ $70,541
Net Assets / Fund Balance
Temporarily Rstr Net Assets$19,232$22,715▲ $3,483
Unrestricted Net Assets$34,774$-67,724▼ $102,498
Total Net Assets Fund Balance$54,006$-45,009▼ $99,015
Total Liabilities and Net Assets / Fund Balance$55,435$26,961▼ $28,474
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Jacqueline BrownCEOFT$68,750$68,750

Board Members and Trustees

NameTitle
Michael PalmerAudit COM Chair
Anita DanielsCo-Chair
Ava V HintonMember
Dinah PattersonMember
Evan McNairMember
William McCrawMember
Shannon BurstonSecretary
Christopher EvansTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$213,198
Program Service Revenue
$232,212
Investment Income
$35
Other Revenue
$0
All Other Contributions
$179,491
Change in Net Assets
$-99,015
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$274,849
Other Expenses$269,611
Total Fundraising Expense$46,448
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$114,530$15,328$26,917$156,775
Current Officers, Directors, Trustees, and Key Employees$37,125$31,625-$68,750
Occupancy$51,533--$51,533
All Other Expenses$21,013$4,504$10,359$35,876
Fees for Services Accounting$6,931$17,019$6,500$30,450
Other Employee Benefits$23,816$4,871-$28,687
Payroll Taxes$13,176$4,789$2,672$20,637
Information Technology$17,115$150-$17,265
Other Expenses$10,433$522-$10,955
Insurance-$2,540-$2,540
Conferences and Meetings$1,178$906-$2,084
Travel$472$115-$587
Interest-$538-$538
Advertising$55--$55
Total Functional Expenses$415,105$82,907$46,448$544,460
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Bank Overdraft$30,306
Other Current Liabilities$15,000
Payroll Withholding Payable$218
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
Yes
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, Line 11B: Form 990 Review Process

“After completion by the audit firm, the 990 is forwarded to the members of the BOD and officers for their review. The 990 is discussed at a meeting of the Board of Directors and a board resolution approving the 990 is adopted.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“At the Board of Directors meeting where the 990 is reviewed each member of the board, officers and key employees are required to sign a Conflict of interest disclosure form.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“It is DERC's policy that compensation of all officers and key employees must be reviewed and approved by the board of directors. Any director with a conflict of interest with respect to the compensation arrangement at issue must be excluded from the review and approval process. The review must include the use of comparability data and the deliberation and decision must be substantiated in the official meeting minutes.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Durham Economic Resource Center
EIN
26-3742480
Phone
9196825912
Address
904 N Roxboro St, Durham, NC 27701

Signing Officer

Name
Anita Daniels
Title
Chairman
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anita Daniels
Formed
2008
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
11

Preparer

Firm
Thomas & Gibbs Cpas Pllc
Address
6114 FAYETTEVILLE RD STE 101, DURHAM, NC 27713-6284
Preparer
Kenneth D Gibbs
Phone
9195440555
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Corporation is exempt from federal and State income taxes under Section 501(c)(3) of the U.S. Internal Revenue Code and the applicable State tax statutes. However,income from certain activities not directly related to the Corporation's tax-exempt purpose is subject to taxation as unrelated business income. In addition, the Corporation qualifies forthe charitable contribution deductions under Section 170(b)(1)(a) and has been qualified as an organization that is not a private foundation under Section 509(a)(2) of the U.S. Internal Revenue Code.Using the provisions of FASB ASC 740, Income Taxes, 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 derecognition,classification, interest and penalties, accounting in interim periods, disclosure and transition. As of the date of the independent auditors' report, the Corporation has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Income tax returns from 2013 through 2015 are open for examination by tax authorities.”

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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/OtherExpensesGrp/Desc0Stipend payments
IRS990/OtherExpensesGrp/Desc1Training and instruction
IRS990/OtherExpensesGrp/Desc2Freight
IRS990/OtherExpensesGrp/Desc3Maintenance
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0522
IRS990/OtherExpensesGrp/ProgramServicesAmt079343
IRS990/OtherExpensesGrp/ProgramServicesAmt126395
IRS990/OtherExpensesGrp/ProgramServicesAmt211990
IRS990/OtherExpensesGrp/ProgramServicesAmt310433
IRS990/OtherExpensesGrp/TotalAmt079343
IRS990/OtherExpensesGrp/TotalAmt126395
IRS990/OtherExpensesGrp/TotalAmt211990
IRS990/OtherExpensesGrp/TotalAmt310955
IRS990/OtherLiabilitiesGrp/EOYAmt045524
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt026917
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt015328
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0114530
IRS990/OtherSalariesAndWagesGrp/TotalAmt0156775
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0200
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
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IRS990/PayrollTaxesGrp/FundraisingAmt02672
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04789
IRS990/PayrollTaxesGrp/ProgramServicesAmt013176
IRS990/PayrollTaxesGrp/TotalAmt020637
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03000
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03000
IRS990/PrincipalOfficerNm0Anita Daniels
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0448000
IRS990/ProgramServiceRevenueGrp/Desc0Distribution Fee Revenue
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0232212
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0232212
IRS990/ProgSrvcAccomActy2Grp/Desc0Community Resource and Action - DERC builds and develops strategic partnerships among faith-based organizations, community-based organizations, local businesses, public and private organizations, as well as the community to help address the root causes of poverty. DERC promotes strategies that are both community based as well as need-based.
IRS990/ProgSrvcAccomActy3Grp/Desc0Workforce Development - a priority objective of DERC is to train the chronically unemployed and "hard to employ" using skills-based classroom training, supervised on-the-job training and support services. The goal with this program is to develop a workforce that is prepared and ready to address the market needs of Durham County. Thus, specific components of the training program are designed based on the workforce needs of local businesses as well as the assets and challenges of the training participants.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0205611
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IRS990/PYGrantsAndSimilarPaidAmt063221
IRS990/PYInvestmentIncomeAmt087
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0179059
IRS990/PYProgramServiceRevenueAmt0312875
IRS990/PYRevenuesLessExpensesAmt010473
IRS990/PYSalariesCompEmpBnftPaidAmt0265820
IRS990/PYTotalExpensesAmt0508100
IRS990/PYTotalRevenueAmt0518573
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-99015
IRS990/RegularMonitoringEnfrcInd0true
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0213198
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0205611
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0214508
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0253805
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0196576
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01083698
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt055
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt037
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt093
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0307
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0232212
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0312875
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0240479
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0128694
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0197615
IRS990ScheduleA/OtherIncome170Grp/TotalAmt01111875
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IRS990ScheduleA/PublicSupportPY170Pct00.48980
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0253805
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0196576
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01083698
IRS990ScheduleA/TotalSupportAmt02195880
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Bank Overdraft
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Other Current Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Payroll Withholding Payable
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation is exempt from federal and State income taxes under Section 501(c)(3) of the U.S. Internal Revenue Code and the applicable State tax statutes. However,income from certain activities not directly related to the Corporation's tax-exempt purpose is subject to taxation as unrelated business income. In addition, the Corporation qualifies forthe charitable contribution deductions under Section 170(b)(1)(a) and has been qualified as an organization that is not a private foundation under Section 509(a)(2) of the U.S. Internal Revenue Code.Using the provisions of FASB ASC 740, Income Taxes, 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 derecognition,classification, interest and penalties, accounting in interim periods, disclosure and transition. As of the date of the independent auditors' report, the Corporation has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Income tax returns from 2013 through 2015 are open for examination by tax authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalLiabilityAmt045524
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0After completion by the audit firm, the 990 is forwarded to the members of the BOD and officers for their review. The 990 is discussed at a meeting of the Board of Directors and a board resolution approving the 990 is adopted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1At the Board of Directors meeting where the 990 is reviewed each member of the board, officers and key employees are required to sign a Conflict of interest disclosure form.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2It is DERC's policy that compensation of all officers and key employees must be reviewed and approved by the board of directors. Any director with a conflict of interest with respect to the compensation arrangement at issue must be excluded from the review and approval process. The review must include the use of comparability data and the deliberation and decision must be substantiated in the official meeting minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt026961
IRS990/TotalAssetsGrp/BOYAmt055435
IRS990/TotalAssetsGrp/EOYAmt026961
IRS990/TotalCompGreaterThan150KInd0false

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