Civic Intelligence

Valdese Economic Development Invest Corporation

EIN 27-0301275 • 501(c)3 • Valdese, NC

Profile

To engage in charitable and educational efforts and specifically support economic development and community development in valdese, ncand burke county, nc, thereby creating jobs, increasing the tax base,and improving quality of life in valdese, nc and burke county, nc, and to promote charitableand educational purposes, which lessens the burden of government

PO Box 1225Valdese, NC 28690

n/A

Siviq Scores

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

Liabilities / Assets

87th percentile

0.65x

Higher debt load relative to assets than 87% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

7.13x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

85th percentile

39%

Higher net margin than 85% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

58th percentile

7.1%

Faster asset growth than 58% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

59th percentile

12%

Faster revenue growth than 59% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$3,937,114

Up $538,737 (+16%) from 2023

Liabilities

Up

$2,549,200

Up $401,043 (+19%) from 2023

Net Assets

Up

$1,387,914

Up $137,694 (+11%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin85th percentile

Revenue

Up

$357,518

Up $69,087 (+24%) from 2023

Expenses

Up

$219,824

Up $20,631 (+10%) from 2023

Net Income

Up

$137,694

Up $48,456 (+54%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth58th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $419,320Liabilities 2012: $0Net Assets 2012: $419,3202012Assets 2013: $437,926Liabilities 2013: $161,152Net Assets 2013: $276,7742013Assets 2014: $538,883Liabilities 2014: $172,020Net Assets 2014: $366,8632014Assets 2015: $1,761,934Liabilities 2015: $1,262,695Net Assets 2015: $499,2392015Assets 2016: $2,583,398Liabilities 2016: $2,049,080Net Assets 2016: $534,3182016Assets 2017: $3,193,338Liabilities 2017: $2,541,733Net Assets 2017: $651,6052017Assets 2018: $3,139,700Liabilities 2018: $2,479,550Net Assets 2018: $660,1502018Assets 2019: $3,146,157Liabilities 2019: $2,389,202Net Assets 2019: $756,9552019Assets 2020: $3,245,163Liabilities 2020: $2,382,373Net Assets 2020: $862,7902020Assets 2021: $3,414,352Liabilities 2021: $2,390,800Net Assets 2021: $1,023,5522021Assets 2022: $3,433,560Liabilities 2022: $2,272,578Net Assets 2022: $1,160,9822022Assets 2023: $3,398,377Liabilities 2023: $2,148,157Net Assets 2023: $1,250,2202023Assets 2024: $3,937,114Liabilities 2024: $2,549,200Net Assets 2024: $1,387,9142024

Highlighted filing

2024

Assets$3,937,114
Liabilities$2,549,200
Net Assets$1,387,914
Open 2024 Filing

Operations Trend

Revenue Growth59th percentile

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

$400K$300K$200K$100K$0Revenue 2012: $96,769Expenses 2012: $67,334Net Income 2012: $29,4352012Expenses 2013: $73,1232013Revenue 2014: $188,714Expenses 2014: $98,625Net Income 2014: $90,0892014Revenue 2015: $296,724Expenses 2015: $164,348Net Income 2015: $132,3762015Revenue 2016: $195,975Expenses 2016: $160,896Net Income 2016: $35,0792016Revenue 2017: $272,459Expenses 2017: $155,172Net Income 2017: $117,2872017Revenue 2018: $253,143Expenses 2018: $244,598Net Income 2018: $8,5452018Revenue 2019: $306,061Expenses 2019: $209,256Net Income 2019: $96,8052019Revenue 2020: $340,496Expenses 2020: $234,661Net Income 2020: $105,8352020Revenue 2021: $336,472Expenses 2021: $175,710Net Income 2021: $160,7622021Revenue 2022: $283,103Expenses 2022: $145,673Net Income 2022: $137,4302022Revenue 2023: $288,431Expenses 2023: $199,193Net Income 2023: $89,2382023Revenue 2024: $357,518Expenses 2024: $219,824Net Income 2024: $137,6942024

Highlighted filing

2024

Revenue$357,518
Expenses$219,824
Net Income$137,694
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$3,937,114
Liabilities
$2,549,200
Net assets
$1,387,914
Revenue
$357,518
Expenses
$219,824
Net income
$137,694
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.94$2.55$1.39$0.36$0.22$0.14
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.40$2.15$1.25$0.29$0.20$0.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.43$2.27$1.16$0.28$0.15$0.14
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.41$2.39$1.02$0.34$0.18$0.16
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.25$2.38$0.86$0.34$0.23$0.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.15$2.39$0.76$0.31$0.21$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.14$2.48$0.66$0.25$0.24$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.19$2.54$0.65$0.27$0.16$0.12
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.58$2.05$0.53$0.20$0.16$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.76$1.26$0.50$0.30$0.16$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.54$0.17$0.37$0.19$0.10$0.09
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.44$0.16$0.28$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.42$0.00$0.42$0.10$0.07$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 12, 2025
Return Version
2023v6.0
Gross Receipts
$357,518
Mission and Program Overview

Mission

To engage in charitable and educational efforts and specifically support economic development and community development in valdese, ncand burke county, nc, thereby creating jobs, increasing the tax base,and improving quality of life in valdese, nc and burke county, nc, and to promote charitableand educational purposes, which lessens the burden of government

To engage in charitable and educational efforts and specifically support economic development and community development in valdese nc and burke county nc, thereby creating jobs, increasing the tax base, and improving quality of life in valdese nc and burke county nc

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,271,191$2,665,314▲ $394,123
Cash and Non-Interest-Bearing Accounts$1,113,880$1,264,101▲ $150,221
Accounts Receivable$13,306$7,699▼ $5,607
Total Assets$3,398,377$3,937,114▲ $538,737
Liabilities
Unsecured Notes Loans Payable$2,132,256$2,532,551▲ $400,295
Accounts Payable and Accrued Expenses$15,901$16,649▲ $748
Total Liabilities$2,148,157$2,549,200▲ $401,043
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,250,220$1,387,914▲ $137,694
Total Net Assets Fund Balance$1,250,220$1,387,914▲ $137,694
Total Liabilities and Net Assets / Fund Balance$3,398,377$3,937,114▲ $538,737

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$5,235$5,235
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Kerri PoteatDirectorFT$76,380$76,380

Board Members and Trustees

NameTitle
Tonia StephensonChairman
Marla ThompsonVice Chair
Clyde McswainBoardmember
Donna ZamoraBoardmember
Jessica BargsleyBoardmember
John BranstromBoardmember
Karen RobinsonBoardmember
Kylie GeraBoardmember
Lily LaramieBoardmember
Rick JusticeBoardmember
Robert BenfieldBoardmember
Robert R RobinsonBoardmember
Scott MulweeBoardmember
Seth EckardBoardmember
Sharon JablonskiBoardmember
Shery LongBoardmember
Suzanne WallaceBoardmember
Timothy BarusBoardmember
Sherri BradshawSecretary
Johnny BerryTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$114,118
Program Service Revenue
$229,368
Investment Income
$14,032
Other Revenue
$0
Change in Net Assets
$137,694

Audited Revenue Reconciliation

Revenue per Audited Statements
$357,518
Total Revenue per Audited Statements
$357,518
Total Revenue per Form 990
$357,518
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$116,836
Other Expenses$102,988
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$71,410$37,667-$109,077
Interest$29,390--$29,390
Fees for Services Accounting-$18,591-$18,591
Payroll Taxes$5,043$2,716-$7,759
Occupancy$5,040$2,160-$7,200
Conferences and Meetings-$2,965-$2,965
Information Technology-$2,051-$2,051
Insurance-$1,201-$1,201
Office Expenses-$951-$951
Other Expenses$34,271$492-$492
Advertising-$310-$310
Travel$190--$190
All Other Expenses$170--$170
Total Functional Expenses$145,514$74,310$0$219,824

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$219,824
Total Expenses per Audited Statements$219,824
Total Expenses per Form 990$219,824
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
No
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
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, Page 6, Part VI, Line 11B

“990 is reviewed by all board members prior to filing”

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

“Each member of the board of directors signs a conflict of interest policy annually”

Form 990, Page 6, Part VI, Line 15B

“All compensation is determined by the board of directors”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Valdese Economic Development Invest
EIN
27-0301275
Phone
8288792120
Address
PO BOX 1225, VALDESE, NC 28690

Signing Officer

Name
Johnny Berry
Title
Treasurer
Phone
8288792120
Signed
2025-05-12

Organization Details

Principal Officer
Tonia Stephenson
Formed
2008
Legal Domicile
Nc
Voting Board Members
20
Independent Board Members
20
Employees
3

Preparer

Firm
Boggs Crump & Brown Pa
Address
205 E UNION ST, MORGANTON, NC 28655
Preparer
Daniel a Boggs
Phone
8284371361
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To engage in charitable and educational efforts and specifically support economic development and community development in valdese nc and burke county nc, thereby creating jobs, increasing the tax base, and improving quality of life in valdese nc and burke county nc”

Raw XML AppendixShowing 400 of 456 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt18SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt20VICE CHAIR
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IRS990/OtherExpensesGrp/Desc2TELEPHONE
IRS990/OtherExpensesGrp/Desc3BANK CHARGES
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IRS990/PrincipalOfficerNm0TONIA STEPHENSON
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ENGAGE IN CHARITABLE AND EDUCATIONAL EFFORTS AND SPECIFICALLY SUPPORT ECONOMIC DEVELOPMENT AND COMMUNITY DEVELOPMENT IN VALDESE NC AND BURKE COUNTY NC, THEREBY CREATING JOBS, INCREASING THE TAX BASE, AND IMPROVING QUALITY OF LIFE IN VALDESE NC AND BURKE COUNTY NC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1990 IS REVIEWED BY ALL BOARD MEMBERS PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH MEMBER OF THE BOARD OF DIRECTORS SIGNS A CONFLICT OF INTEREST POLICY ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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