Civic Intelligence

Durham Economic Resource Center

990 • Fiscal year 2014 • EIN 26-3742480

Jan 01, 2014 to Dec 31, 2014 • Filed on May 09, 2015

Organization Profilewww.durhameconomicresourcecenter.org

View Organization Page

904 N Roxboro StDurham, NC 27701

(919) 682-5912

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

44th percentile

0.03x

Higher debt load relative to assets than 44% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

28th percentile

0.00x

Higher debt load relative to revenue than 28% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

47th percentile

2.0%

Higher net margin than 47% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

80th percentile

$75,000

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

80th percentile

22%

Faster asset growth than 80% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

66th percentile

14%

Faster revenue growth than 66% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets44th percentile

Assets

Up

$55,435

Up $10,032 (+22%) from 2013

Net Assets

Up

$54,006

Up $10,473 (+24%) from 2013

Liabilities

Down

$1,429

Down $441 (-24%) from 2013

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin47th percentile

Revenue

Up

$518,573

Up $63,531 (+14%) from 2013

Expenses

Up

$508,100

Up $87,591 (+21%) from 2013

Net Income

Down

$10,473

Down $24,060 (-70%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$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

2014

Assets$55,435
Liabilities$1,429
Net Assets$54,006
Open 2014 Filing

Operations Trend

Revenue Growth66th percentile

Revenue, expenses, and net income across loaded years, with this 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

2014

Revenue$518,573
Expenses$508,100
Net Income$10,473
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 9, 2015
Return Version
2014v5.0
Gross Receipts
$518,573
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.

Provide low-cost merchandise to nonprofit agencies and on-the-job training to the unemployed and hard-to-employ and build strategic partnerships to help address the root causes of poverty

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$35,348$49,403▲ $14,055
Accounts Receivable$7,055$3,032▼ $4,023
Total Assets$45,403$55,435▲ $10,032
Other Assets Total$3,000$3,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,870$1,429▼ $441
Total Liabilities$1,870$1,429▼ $441
Net Assets / Fund Balance
Unrestricted Net Assets$39,695$34,774▼ $4,921
Temporarily Rstr Net Assets$3,838$19,232▲ $15,394
Total Net Assets Fund Balance$43,533$54,006▲ $10,473
Total Liabilities and Net Assets / Fund Balance$45,403$55,435▲ $10,032

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$3,000--
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jacqueline BrownCEOFT$75,000$75,000

Board Members and Trustees

NameTitle
Michael PalmerAudit Committee Chair
Rob WheelerChairman
Anita DanielsDirector
Annie Jones ClementDirector
Denise BaptistDirector
Dinah PattersonDirector
Evan McNairDirector
Priscilla NunnDirector
Wyatt PettifordDirector
Jessica DennisFOB Member
Kristen O'LearyFOB Member
Shannon BurstonSecretary
Christopher EvansTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$205,611
Program Service Revenue
$312,875
Investment Income
$87
Other Revenue
$0
All Other Contributions
$172,919
Change in Net Assets
$10,473

Audited Revenue Reconciliation

Revenue per Audited Statements
$518,573
Total Revenue per Audited Statements
$518,573
Total Revenue per Form 990
$518,573
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$265,820
Other Expenses$179,059
Grants and Similar Amounts Paid$63,221
Total Fundraising Expense$20,108
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$112,084$24,270$2,985$139,339
Current Officers, Directors, Trustees, and Key Employees$40,192$34,808-$75,000
Occupancy$67,965$1,714-$69,679
Grants to Domestic Individuals$63,221--$63,221
Other Employee Benefits$26,922$4,837-$31,759
Fees for Services Accounting$8,242$15,400$3,500$27,142
Office Expenses$20,688$733$169$21,590
Payroll Taxes$14,760$4,654$308$19,722
Information Technology$18,973$725-$19,698
Other Expenses$3,530$141$12,951$16,622
Fees for Services Other$15,305--$15,305
Conferences and Meetings$2,136$418-$2,554
Insurance-$2,360-$2,360
Advertising$1,083$60$35$1,178
Travel$652$56-$708
Total Functional Expenses$396,268$91,724$20,108$508,100

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$508,100
Total Expenses per Audited Statements$508,100
Total Expenses per Form 990$508,100
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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, Section A, Line 11B

“It is DERCs policy that the board of directors review the IRS Form 990 that is filed on the organizations behalf before it is filed with the IRS.”

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

“DERC requires, as part of the annual review and approval of the 990, each officer, director, trustee and key employee to submit a current conflict of interest statement.”

Form 990, Part VI, Section B, Line 15

“It is DERCs 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, Section C, Line 19

“DERC does make its financial statements, governing documents and conflict of interest policies available to the public upon request.”

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
Jacqueline Brown
Title
CEO
Signed
2015-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jacqueline Brown
Formed
2008
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
11
Employees
13

Preparer

Firm
Karen Miller PC
Address
3900 Marklyn Pl, Hillsborough, NC 27278
Preparer
Karen Miller
Phone
9196434038
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IRS990/PrincipalOfficerNm0Jacqueline Brown
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0448000
IRS990/ProgramServiceRevenueGrp/Desc0Distribution Fee Revenue
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0312875
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0312875
IRS990/ProgSrvcAccomActy2Grp/Desc0Resource Program DERC distributes various products to member nonprofit and faith-based organizations to alleviate basic needs among the poor, ill and elderly by using products donated to DERC by Welfare Reform Liaison Project, Inc., Dignity U Wear, and other for profit distribution and retail organizations.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0166778
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0214508
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt063791
IRS990/PYInvestmentIncomeAmt055
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0167369
IRS990/PYOtherRevenueAmt0842
IRS990/PYProgramServiceRevenueAmt0239637
IRS990/PYRevenuesLessExpensesAmt034533
IRS990/PYSalariesCompEmpBnftPaidAmt0189349
IRS990/PYTotalExpensesAmt0420509
IRS990/PYTotalRevenueAmt0455042
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt010473
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt035348
IRS990/SavingsAndTempCashInvstGrp/EOYAmt049403
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0205611
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0214508
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0253805
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0196576
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt094745
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0965245
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt087
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt055
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt037
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt093
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt060
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0332
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0312875
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0240479
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0128694
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0197615
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0124023
IRS990ScheduleA/OtherIncome170Grp/TotalAmt01003686
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.48980
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportPY170Pct00.54730
IRS990ScheduleA/PublicSupportTotal170Amt0964630
IRS990ScheduleA/SubstantialContributorsTotAmt0615
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0205611
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0214508
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0253805
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0196576
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt094745
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0965245
IRS990ScheduleA/TotalSupportAmt01969263
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/ScheduleBRequiredInd0true
IRS990ScheduleD/ExpensesSubtotalAmt0508100
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Security deposit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt0518573
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03000
IRS990ScheduleD/TotalExpensesPerForm990Amt0508100
IRS990ScheduleD/TotalRevenuePerForm990Amt0518573
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0518573
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0508100
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt063221
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Education Financial Assistance Package
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt063
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0DERC monitors the use of funds by recipients through 1 required drig testing 2 daily attendance 3 maximum assistance limits per student within a two week period and 4 sponsors. All financial assistance recipients must be sponsored by a member nonprofit or faith-based organization or government entity. This sponsor helps monitor the student and assists him or her with any non-jub training related problems he or she may encounter.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III Line 1
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0It is DERCs policy that the board of directors review the IRS Form 990 that is filed on the organizations behalf before it is filed with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DERC requires, as part of the annual review and approval of the 990, each officer, director, trustee and key employee to submit a current conflict of interest statement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2It is DERCs 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/ExplanationTxt3DERC does make its financial statements, governing documents and conflict of interest policies available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt03838
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt019232
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt045403
IRS990/TotalAssetsEOYAmt055435
IRS990/TotalAssetsGrp/BOYAmt045403
IRS990/TotalAssetsGrp/EOYAmt055435
IRS990/TotalCompGreaterThan150KInd0false

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$55,435
Liabilities
$1,429
Net assets
$54,006
Revenue
$518,573
Expenses
$508,100
Net income
$10,473
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
Peer Organizations

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