Civic Intelligence

Economic Development Partnership of North Carolina Inc.

990 • Fiscal year 2017 • EIN 46-4840814

Jul 01, 2016 to Jun 30, 2017 • Filed on May 09, 2018

15000 Weston ParkwayCary, NC 27513-2118

(919) 447-7777

Siviq Scores

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

Liabilities / Assets

84th percentile

0.74x

Higher debt load relative to assets than 84% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

53rd percentile

0.26x

Higher debt load relative to revenue than 53% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

34th percentile

-0.3%

Higher net margin than 34% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

79th percentile

$299,591

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

98th percentile

180%

Faster asset growth than 98% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

80th percentile

26%

Faster revenue growth than 80% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$8,432,840

Up $5,420,585 (+180%) from 2016

Net Assets

Down

$2,205,883

Down $69,993 (-3.1%) from 2016

Liabilities

Up

$6,226,957

Up $5,490,578 (+746%) from 2016

Revenue

Up

$23,881,184

Up $4,895,749 (+26%) from 2016

Expenses

Up

$23,951,177

Up $5,278,917 (+28%) from 2016

Net Income

Down

-$69,993

Down $383,168 (-122%) from 2016

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2013: $0Liabilities 2013: $0Net Assets 2013: $02013Assets 2014: $50Liabilities 2014: $0Net Assets 2014: $502014Assets 2015: $2,593,708Liabilities 2015: $639,647Net Assets 2015: $1,954,0612015Assets 2016: $3,012,255Liabilities 2016: $736,379Net Assets 2016: $2,275,8762016Assets 2017: $8,432,840Liabilities 2017: $6,226,957Net Assets 2017: $2,205,8832017Assets 2018: $3,793,975Liabilities 2018: $670,491Net Assets 2018: $3,123,4842018Assets 2019: $3,583,941Liabilities 2019: $674,699Net Assets 2019: $2,909,2422019Assets 2020: $10,570,203Liabilities 2020: $7,055,919Net Assets 2020: $3,514,2842020Assets 2021: $8,597,850Liabilities 2021: $3,724,937Net Assets 2021: $4,872,9132021Assets 2022: $8,246,221Liabilities 2022: $2,530,665Net Assets 2022: $5,715,5562022Assets 2023: $25,065,283Liabilities 2023: $18,106,947Net Assets 2023: $6,958,3362023Assets 2024: $38,670,385Liabilities 2024: $30,293,230Net Assets 2024: $8,377,1552024Assets 2025: $130,673,830Liabilities 2025: $121,439,408Net Assets 2025: $9,234,4222025

Highlighted filing

2017

Assets$8,432,840
Liabilities$6,226,957
Net Assets$2,205,883

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2014: $35,870Expenses 2014: $35,820Net Income 2014: $502014Revenue 2015: $14,848,641Expenses 2015: $12,904,580Net Income 2015: $1,944,0612015Revenue 2016: $18,985,435Expenses 2016: $18,672,260Net Income 2016: $313,1752016Revenue 2017: $23,881,184Expenses 2017: $23,951,177Net Income 2017: -$69,9932017Revenue 2018: $24,333,761Expenses 2018: $23,416,160Net Income 2018: $917,6012018Revenue 2019: $23,011,507Expenses 2019: $23,225,749Net Income 2019: -$214,2422019Revenue 2020: $20,898,417Expenses 2020: $20,293,375Net Income 2020: $605,0422020Revenue 2021: $39,872,083Expenses 2021: $38,513,454Net Income 2021: $1,358,6292021Revenue 2022: $25,900,688Expenses 2022: $25,058,045Net Income 2022: $842,6432022Revenue 2023: $52,521,206Expenses 2023: $51,278,426Net Income 2023: $1,242,7802023Revenue 2024: $42,149,721Expenses 2024: $40,730,902Net Income 2024: $1,418,8192024Revenue 2025: $52,335,240Expenses 2025: $51,477,973Net Income 2025: $857,2672025

Highlighted filing

2017

Revenue$23,881,184
Expenses$23,951,177
Net Income-$69,993
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 9, 2018
Return Version
2016v3.0
Gross Receipts
$23,881,184
Mission and Program Overview

Mission

Our mission is to improve the economic well-being and quality of life for all north carolinians. We do this by collaborating with state, regional, local, and private-sector partners in new business recruitment, existing employer support, international trade and export assistance, small business start-up counseling, and tourism promotion.

Activities shall include, collaborating with the nc department of commerce to promote economic development, and enhance economic opportunities, particularly in the state of north carolina's rural and urban communities, and to involve the private sector in a meaningful and material way in the economic development efforts previously undertaken by the state of north carolina and its instrumentalities and political subdivisions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$306,161$6,062,721▲ $5,756,560
Cash and Non-Interest-Bearing Accounts$1,677,159$1,419,520▼ $257,639
Prepaid Expenses and Deferred Charges$750,959$761,716▲ $10,757
Land, Buildings, and Equipment, Net$267,150$167,730▼ $99,420
Total Assets$3,012,255$8,432,840▲ $5,420,585
Other Assets Total$10,826$21,153▲ $10,327
Liabilities
Deferred Revenue$46,382$5,623,407▲ $5,577,025
Accounts Payable and Accrued Expenses$346,537$369,110▲ $22,573
Other Liabilities$343,460$234,440▼ $109,020
Total Liabilities$736,379$6,226,957▲ $5,490,578
Net Assets / Fund Balance
Unrestricted Net Assets$2,275,876$2,205,883▼ $69,993
Total Net Assets Fund Balance$2,275,876$2,205,883▼ $69,993
Total Liabilities and Net Assets / Fund Balance$3,012,255$8,432,840▲ $5,420,585

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$167,730$225,282$393,012
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher ChungCEOFT$227,805$71,786$299,591
William TuttellVP TourismFT$128,201$14,749$142,950
David SpratleyVP Business RecruitmentFT$116,231$9,520$125,751
John LoyackVP Global Business ServicesFT$121,370-$121,370
Jennifer HarknessVP FinanceFT$112,444$4,849$117,293

Board Members and Trustees

NameTitle
Frank E Emory JrBoard Director & Chair
Jim WhitehurstBoard Director & Vice Chair
Bob SingerBoard Director
Caleb MilesBoard Director
Charlie CreightonBoard Director
David CravenBoard Director
Jeffery TurnerBoard Director
Marie Flow ArcuriBoard Director
Mark BellissimoBoard Director
Mark ZimmermanBoard Director
Melanie McNamaraBoard Director
Mike HawkinsBoard Director
Pleas McMichaelBoard Director
Sheila Pierce KnightBoard Director
Tom LooneyBoard Director
Vimal KolappaBoard Director
John KaneBoard Secretary/Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Convergent NonProfit SolutionsFundraising520 Sheritan Way, Smyrna, GA 30082, Hk$276,991
William Wei ChuForeign Trade Rep112 Prospect Street 5th Floor, Stamford, CT 06901$212,197
BeeLine Travel AgencyTravel Agency-$110,516
Revenue and Support

Revenue Composition

Contributions and Grants
$2,190,706
Program Service Revenue
$21,690,478
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,173,504
Change in Net Assets
$-69,993

Audited Revenue Reconciliation

Revenue per Audited Statements
$23,881,184
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$23,881,184
Total Revenue per Form 990
$23,881,184
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$17,862,192
Salaries, Compensation, and Employee Benefits$5,810,627
Total Fundraising Expense$342,917
Professional Fundraising Fees$278,358
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$13,901,670$15,774$71$13,917,515
Other Salaries and Wages$4,211,297$137,674$23,501$4,372,472
Fees for Services Other$1,577,713$81,902$10,786$1,670,401
Travel$1,005,749$29,965$9,654$1,045,368
Other Employee Benefits$481,151$43,449-$524,600
Information Technology$450,457$15,060-$465,517
Current Officers, Directors, Trustees, and Key Employees-$413,851-$413,851
Payroll Taxes$333,182$32,828-$366,010
Occupancy$287,141$13,854-$300,995
Fees for Services Professional Fundraising--$278,358$278,358
Pension Plan Contributions$112,194$21,500-$133,694
Office Expenses$75,689$42,262$1,361$119,312
Depreciation Depletion-$99,421-$99,421
Fees for Services Legal-$82,716-$82,716
Other Expenses$58,410$1,258$19,186$78,854
Insurance-$45,297-$45,297
Fees for Services Accounting-$17,641-$17,641
Interest-$15,486-$15,486
Conferences and Meetings$3,483$186-$3,669
Total Functional Expenses$22,498,136$1,110,124$342,917$23,951,177

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$23,951,177
Total Expenses per Audited Statements$23,951,177
Total Expenses per Form 990$23,951,177
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
12
Employees
12
Spending
$2,321,427

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram ServicesInternational Trade & Foreign Direct Investment44$970,167
EuropeProgram ServicesInternational Trade & Foreign Direct Investment55$735,943
North AmericaProgram ServicesInternational Trade & Foreign Direct Investment22$407,483
Central America and the CaribbeanProgram ServicesInternational Trade & Foreign Direct Investment11$207,834
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$278,358
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Obligations$186,321
Deferred Rent$48,119
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
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 4

In December 2016, there was an amendment to add a political activity/lobbying policy (per recommendation from State audit) and to also provide clarification regarding the removal of board members.

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

There are no committees with the authority to act on behalf of the governing body and therefore there are no meetings to document.

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

Once VP of Finance performs detailed review of the return, it is distributed to the CEO and board members who are invited to review and provide edits if needed.

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

The policy is read at the beginning of every board meeting and members are asked to self-identify any potential conflicts at that time.

Form 990, Part VI, Section B, line 15

The board used comparative data gathered from the form 990s and other disclosures of similar entities when determining the ceo's compensation.

Form 990, Part VI, Section C, line 19

The organization's governing documents, conflict of interest policy, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Economic Development Partnership of
EIN
46-4840814
Phone
9194477777
Address
15000 Weston Parkway, Cary, NC 27513-2118

Signing Officer

Name
Christopher Chung
Title
CEO
Phone
9194477777
Signed
2018-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher Chung
Formed
2013
Legal Domicile
Nc
Voting Board Members
17
Independent Board Members
17
Employees
65
Volunteers
17

Preparer

Firm
Cherry Bekaert Llp
Address
1111 METROPOLITAN AVE STE 1000, CHARLOTTE, NC 28204
Preparer
Amanda Adams
Phone
7043771678
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

The Organization is exempt from federal income taxes on related income under Internal Revenue Code Section 501(c)(3). Accordingly, no provision for income taxes has been made. The Organization's federal Exempt Organization Business Income Tax Return (Form 990T) is subject to examination by the Internal Revenue Service, generally for three years after it was filed. Management believes that the Organization continues to satisfy the requirements of a tax-exempt organization at June 30, 2017.

Raw XML AppendixShowing 400 of 657 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/Form990PartVIISectionAGrp/OtherCompensationAmt2114749
IRS990/Form990PartVIISectionAGrp/PersonNm0Frank E Emory Jr
IRS990/Form990PartVIISectionAGrp/PersonNm1Jim Whitehurst
IRS990/Form990PartVIISectionAGrp/PersonNm2John Kane
IRS990/Form990PartVIISectionAGrp/PersonNm3Marie Flow Arcuri
IRS990/Form990PartVIISectionAGrp/PersonNm4Mark Bellissimo
IRS990/Form990PartVIISectionAGrp/PersonNm5Charlie Creighton
IRS990/Form990PartVIISectionAGrp/PersonNm6David Craven
IRS990/Form990PartVIISectionAGrp/PersonNm7Mike Hawkins
IRS990/Form990PartVIISectionAGrp/PersonNm8Sheila Pierce Knight
IRS990/Form990PartVIISectionAGrp/PersonNm9Vimal Kolappa
IRS990/Form990PartVIISectionAGrp/PersonNm10Tom Looney
IRS990/Form990PartVIISectionAGrp/PersonNm11Pleas McMichael
IRS990/Form990PartVIISectionAGrp/PersonNm12Melanie McNamara
IRS990/Form990PartVIISectionAGrp/PersonNm13Caleb Miles
IRS990/Form990PartVIISectionAGrp/PersonNm14Bob Singer
IRS990/Form990PartVIISectionAGrp/PersonNm15Jeffery Turner
IRS990/Form990PartVIISectionAGrp/PersonNm16Mark Zimmerman
IRS990/Form990PartVIISectionAGrp/PersonNm17Christopher Chung
IRS990/Form990PartVIISectionAGrp/PersonNm18Jennifer Harkness
IRS990/Form990PartVIISectionAGrp/PersonNm19John Loyack
IRS990/Form990PartVIISectionAGrp/PersonNm20David Spratley
IRS990/Form990PartVIISectionAGrp/PersonNm21William Tuttell
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt17281805
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt18112444
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt19121370
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20116231
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt21128201
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/TitleTxt0Board Director & Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Board Director & Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Board Secretary/Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Board Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt18VP Finance
IRS990/Form990PartVIISectionAGrp/TitleTxt19VP Global Business Services
IRS990/Form990PartVIISectionAGrp/TitleTxt20VP Business Recruitment
IRS990/Form990PartVIISectionAGrp/TitleTxt21VP Tourism
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02013
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
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IRS990/GoverningBodyVotingMembersCnt017
IRS990/GovernmentGrantsAmt01017202
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt023881184
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt017
IRS990/IndivRcvdGreaterThan100KCnt05
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt015060
IRS990/InformationTechnologyGrp/ProgramServicesAmt0450457
IRS990/InformationTechnologyGrp/TotalAmt0465517
IRS990/InsuranceGrp/ManagementAndGeneralAmt045297
IRS990/InsuranceGrp/TotalAmt045297
IRS990/InterestGrp/ManagementAndGeneralAmt015486
IRS990/InterestGrp/TotalAmt015486
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt031
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0225282
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0267150
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0167730
IRS990/LandBldgEquipCostOrOtherBssAmt0393012
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO IMPROVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE OF NORTH CAROLINIANS THROUGH JOB CREATION AND CAPITAL INVESTMENT DRIVEN BY NEW BUSINESS RECRUITMENT, EXISTING BUSINESS EXPANSION, INTERNATIONAL TRADE, SMALL BUSINESS FORMATION, AND TOURISM.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt02275876
IRS990/NetAssetsOrFundBalancesEOYAmt02205883
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt013854
IRS990/OccupancyGrp/ProgramServicesAmt0287141
IRS990/OccupancyGrp/TotalAmt0300995
IRS990/OfficeExpensesGrp/FundraisingAmt01361
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt042262
IRS990/OfficeExpensesGrp/ProgramServicesAmt075689
IRS990/OfficeExpensesGrp/TotalAmt0119312
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt010826
IRS990/OtherAssetsTotalGrp/EOYAmt021153
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt043449
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0481151
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0524600
IRS990/OtherExpensesGrp/Desc0HOSPITALITY
IRS990/OtherExpensesGrp/FundraisingAmt019186
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01258
IRS990/OtherExpensesGrp/ProgramServicesAmt058410
IRS990/OtherExpensesGrp/TotalAmt078854
IRS990/OtherLiabilitiesGrp/BOYAmt0343460
IRS990/OtherLiabilitiesGrp/EOYAmt0234440
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt023501
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0137674
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt04211297
IRS990/OtherSalariesAndWagesGrp/TotalAmt04372472
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt032828
IRS990/PayrollTaxesGrp/ProgramServicesAmt0333182
IRS990/PayrollTaxesGrp/TotalAmt0366010
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt021500
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0112194
IRS990/PensionPlanContributionsGrp/TotalAmt0133694
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0750959
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0761716
IRS990/PrincipalOfficerNm0Christopher Chung
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IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0State of NC funding
IRS990/ProgramServiceRevenueGrp/Desc1Advertising Revenue
IRS990/ProgramServiceRevenueGrp/Desc2TRADE SHOW REVENUE
IRS990/ProgramServiceRevenueGrp/Desc3Event and other Revenue
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt021413482
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1199946
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt257063
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt319987
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1199946
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt257063
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt319987
IRS990/ProgSrvcAccomActy2Grp/Desc0The EDPNC's international trade division helps NC companies identify and develop overseas marketing opportunities free of charge. This is especially beneficial to smaller businesses which often do not have staff dedicated to exploring and developing export opportunities. EDPNC has multilingual experts located in North Carolina and several foreign offices in Canada, Mexico, Europe, South Korea, Japan, Shanghai and Hong Kong. Services offered by the international trade team include export education programs, customized searches for international distributors or agents, research and intelligence on international markets and referral to programs offering export finance assistance. The team organizes and leads North Carolina companies' participation in high-profile international trade events. The team also helps participants access federal funding to cover certain costs, including travel and marketing material translation. The division's services include introducing businesses to potential buyers and distributors of their products or services. EDPNC international trade experts assisted over 558 NC companies export over $832M in sales in calendar 2016.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt02557241
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01275
IRS990/ProgSrvcAccomActy3Grp/Desc0EDPNC's business recruitment division helps grow North Carolina's economic base by securing new facilities (projects) that lead to increased employment opportunities throughout the state. This division works statewide helping companies interested in locating or expanding in North Carolina find sites, navigate financial incentives and permitting requirements, and identify and tap resources to meet workforce, training and infrastructure needs. The EDPNC and its partners supported 139 announced business recruitment and expansion projects in calendar 2016, resulting in 14,944 announced new jobs and $3.84 billion in announced capital investment in North Carolina.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt01375188
IRS990/ProgSrvcAccomActyOtherGrp/Desc0EXISTING INDUSTRY AND SMALL BUSINESS SUPPORT; BUSINESS DEVELOPMENT, RESEARCH AND MARKETING.
IRS990/ProgSrvcAccomActyOtherGrp/Desc1Through its contract with the North Carolina Department of Commerce, EDPNC operates as the sales and marketing arm of the state's economic development activities. As such, EDPNC is responsible for business recruitment, existing industry and small business support, import and export assistance, marketing and research, tourism, film, and sports development activities within the state, which all work toward the creation and retention of high quality jobs within North Carolina. Expenses related to specific programs have been shown previously.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt06043474
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0247608
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt121381682
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01825013
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt013467303
IRS990/PYOtherRevenueAmt033051
IRS990/PYProgramServiceRevenueAmt017127371
IRS990/PYRevenuesLessExpensesAmt0313175
IRS990/PYSalariesCompEmpBnftPaidAmt05058630
IRS990/PYTotalExpensesAmt018672260
IRS990/PYTotalProfFndrsngExpnsAmt0146327
IRS990/PYTotalRevenueAmt018985435
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00

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