Civic Intelligence

Yadkin Valley Economic Development District Inc.

990 • Fiscal year 2022 • EIN 56-0851147

Jul 01, 2021 to Jun 30, 2022 • Filed on May 26, 2023

533 North Carolina Ave Hwy 601Boonville, NC 27011

(336) 367-3527

Siviq Scores

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

Liabilities / Assets

51st percentile

0.25x

Higher debt load relative to assets than 51% of similar nonprofits.

2022 filings • NTEE P • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

30th percentile

0.10x

Higher debt load relative to revenue than 30% of similar nonprofits.

2022 filings • NTEE P • $10M-$25M nonprofits • Source year 2022

Net Margin

18th percentile

-3.3%

Higher net margin than 18% of similar nonprofits.

2022 filings • NTEE P • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

14th percentile

$86,861

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2022 filings • NTEE P • $10M-$25M nonprofits • Source year 2022

Asset Growth

26th percentile

-4.1%

Faster asset growth than 26% of similar nonprofits.

2022 filings • NTEE P • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

70th percentile

18%

Faster revenue growth than 70% of similar nonprofits.

2022 filings • NTEE P • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$5,760,252

Down $249,185 (-4.1%) from 2021

Net Assets

Down

$4,341,679

Down $460,485 (-9.6%) from 2021

Liabilities

Up

$1,418,573

Up $211,300 (+18%) from 2021

Revenue

Up

$13,860,054

Up $2,072,156 (+18%) from 2021

Expenses

Up

$14,320,540

Up $3,468,699 (+32%) from 2021

Net Income

Down

-$460,486

Down $1,396,543 (-149%) from 2021

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2011: $4,786,820Liabilities 2011: $780,728Net Assets 2011: $4,006,0922011Assets 2012: $5,541,581Liabilities 2012: $995,674Net Assets 2012: $4,545,9072012Assets 2013: $5,675,815Liabilities 2013: $1,217,865Net Assets 2013: $4,457,9502013Assets 2014: $5,667,221Liabilities 2014: $1,613,077Net Assets 2014: $4,054,1442014Assets 2015: $3,885,216Liabilities 2015: $936,634Net Assets 2015: $2,948,5822015Assets 2016: $4,424,681Liabilities 2016: $885,293Net Assets 2016: $3,539,3882016Assets 2017: $4,776,865Liabilities 2017: $1,217,948Net Assets 2017: $3,558,9172017Assets 2018: $5,252,980Liabilities 2018: $1,731,886Net Assets 2018: $3,521,0942018Assets 2019: $4,779,279Liabilities 2019: $1,489,788Net Assets 2019: $3,289,4912019Assets 2020: $4,802,577Liabilities 2020: $1,301,641Net Assets 2020: $3,500,9362020Assets 2021: $6,009,437Liabilities 2021: $1,207,273Net Assets 2021: $4,802,1642021Assets 2022: $5,760,252Liabilities 2022: $1,418,573Net Assets 2022: $4,341,6792022Assets 2023: $6,365,856Liabilities 2023: $1,737,834Net Assets 2023: $4,628,0222023Assets 2024: $7,230,652Liabilities 2024: $2,453,491Net Assets 2024: $4,777,1612024Assets 2025: $8,877,565Liabilities 2025: $3,175,746Net Assets 2025: $5,701,8192025

Highlighted filing

2022

Assets$5,760,252
Liabilities$1,418,573
Net Assets$4,341,679

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $11,069,281Expenses 2011: $10,755,546Net Income 2011: $313,7352011Expenses 2012: $11,312,2662012Revenue 2013: $11,205,329Expenses 2013: $11,295,042Net Income 2013: -$89,7132013Revenue 2014: $11,884,642Expenses 2014: $12,291,568Net Income 2014: -$406,9262014Revenue 2015: $10,676,511Expenses 2015: $12,027,542Net Income 2015: -$1,351,0312015Revenue 2016: $12,476,881Expenses 2016: $12,227,121Net Income 2016: $249,7602016Revenue 2017: $12,144,675Expenses 2017: $12,486,751Net Income 2017: -$342,0762017Revenue 2018: $12,136,640Expenses 2018: $12,518,870Net Income 2018: -$382,2302018Revenue 2019: $11,718,575Expenses 2019: $12,284,537Net Income 2019: -$565,9622019Revenue 2020: $11,466,152Expenses 2020: $11,823,037Net Income 2020: -$356,8852020Revenue 2021: $11,787,898Expenses 2021: $10,851,841Net Income 2021: $936,0572021Revenue 2022: $13,860,054Expenses 2022: $14,320,540Net Income 2022: -$460,4862022Revenue 2023: $15,305,531Expenses 2023: $15,036,632Net Income 2023: $268,8992023Revenue 2024: $15,833,638Expenses 2024: $16,062,168Net Income 2024: -$228,5302024Revenue 2025: $13,573,389Expenses 2025: $12,648,731Net Income 2025: $924,6582025

Highlighted filing

2022

Revenue$13,860,054
Expenses$14,320,540
Net Income-$460,486
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 26, 2023
Return Version
2021v4.0
Gross Receipts
$13,860,054
Mission and Program Overview

Mission

Dedicated to improving the lives of individuals and families in davie, stokes, surry, and yadkin counties through a variety of programs and partnerships to build stronger communities.

The mission of yveddi is to provide quality programs and services to alleviate the causes and conditions of poverty and to enhance the quality of life for low income and elderly citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,536,244$2,204,422▼ $331,822
Land, Buildings, and Equipment, Net$2,252,029$2,183,472▼ $68,557
Pledges and Grants Receivable$154,030$990,229▲ $836,199
Savings and Temporary Cash Investments$856,764--
Prepaid Expenses and Deferred Charges$210,370$198,766▼ $11,604
Accounts Receivable-$183,363-
Total Assets$6,009,437$5,760,252▼ $249,185
Liabilities
Accounts Payable and Accrued Expenses$770,791$1,082,976▲ $312,185
Other Liabilities$237,050$178,698▼ $58,352
Mortgage Notes Payable Secured by Investment Property$188,511$145,978▼ $42,533
Deferred Revenue$10,921$10,921→ $0
Total Liabilities$1,207,273$1,418,573▲ $211,300
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,544,146$2,207,470▼ $336,676
Net Assets With Donor Restrictions$2,258,018$2,134,209▼ $123,809
Total Net Assets Fund Balance$4,802,164$4,341,679▼ $460,485
Total Liabilities and Net Assets / Fund Balance$6,009,437$5,760,252▼ $249,185

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$714,850$4,821,181$5,536,031
Buildings$1,203,399$2,725,288$3,928,687
Land$265,223-$265,223
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kathy PayneExecutive DiFT$86,861$86,861

Board Members and Trustees

NameTitle
Mickey CartnerChair
Eddie HarrisVice Chair
Amy BryantDirector
Andy NickelstonDirector
Brent WardDirector
Debra JessupDirector
Jo Ann LayellDirector
Kelly CraineDirector
Larry JohnsonDirector
Marion WelbornDirector
Mark JonesDirector
Natalie WilliamsDirector
Pam CouseDirector
Richard LaskyDirector
Robin BeasonDirector
Shelby KingDirector
Suzanne WrightDirector
Wayne BarneycastleDirector
Danny RoyallChaplain
Sylvia JessupSecretary
Jim BrownTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$9,883,200
Program Service Revenue
$3,948,545
Investment Income
$28,309
Other Revenue
$0
All Other Contributions
$747,017
Change in Net Assets
$-460,486

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,860,054
Total Revenue per Audited Statements
$13,860,054
Total Revenue per Form 990
$13,860,054
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,432,537
Other Expenses$6,888,003
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,104,777$506,672-$5,611,449
Fees for Services Other$1,656,991$109,984-$1,766,975
Other Employee Benefits$1,244,716$118,043-$1,362,759
Travel$1,067,940$7,135-$1,075,075
Depreciation Depletion$480,232$43,276-$523,508
Occupancy$369,696$46,805-$416,501
Payroll Taxes$337,139$37,460-$374,599
Insurance$330,266$21,447-$351,713
Other Expenses$295,461$44,605-$340,066
Current Officers, Directors, Trustees, and Key Employees$76,171$7,559-$83,730
All Other Expenses$60,434$6,187-$66,621
Interest-$9,633-$9,633
Total Functional Expenses$13,220,127$1,100,413$0$14,320,540

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$14,320,540
Total Expenses per Audited Statements$14,320,540
Total Expenses per Form 990$14,320,540
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
Capital Equipment Lease Payable$178,698
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 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
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, Page 6, Part VI, Line 11B

After completion of the draft copy of form 990, an encrypted electronic copy of the form is made available by the finance director to the executive director and the board of directors. Upon review the board and finance committee members can direct any questions or comments to the finance director and executive director.

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

The conflict of interest policy requires annual review and disclosure by directors.

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

The board of directors has final authority to approve the compensation for the executive director. The agency's personnel committee reviews the compensation for all compensated officers and key employees (as defined for form 990).

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

The board of directors has final authority to approve the compensation for the executive director. The agency's personnel committee reviews the compensation for all compensated officers and key employees (as defined for form 990).

Form 990, Page 6, Part VI, Line 19

Form 990 and the financial statements of the agency are available to the public at the agency's main office. Other government documents can be available to the public with approval from the board.

Filing and Contact Details

Filer

Filer Name
Yadkin Valley Economic Development
EIN
56-0851147
Phone
3363673527
Address
533 NORTH CAROLINA AVE HWY 601, BOONVILLE, NC 27011

Signing Officer

Name
Kathy Payne
Title
Executive Director
Phone
3363673527
Signed
2023-05-26

Organization Details

Principal Officer
Kathy Payne
Voting Board Members
22
Independent Board Members
22
Employees
219
Volunteers
200

Preparer

Firm
Vance CPA LLC
Address
706 S THORNTON AVE, DALTON, GA 30720
Preparer
Benjamin Vance
Phone
7062781221
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

OTHER PROGRAMS

Form 990, Part IX, Line 11G

Contracted services 1,656,991 109,984 0

Form 990, Part XI, Line 9

ROUNDING 1

Financial Statement Notes

Schedule D, Page 3, Part X

It is the organization's policy to evaluate all tax positions to identify any that may be considered uncertain. All identified material tax positions are assessed and measured by a more-likely-than-not threshold to determine if the tax position is uncertain and what, if any, the effect of the uncertain tax position may have on the financial statements. No material uncertain tax positions were identified for 2022 and 2021. Any changes in the amount of a tax position will be recognized in the period the change occurs.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17CHAPLAIN
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
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IRS990/GrantsToOrganizationsInd0false
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IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartIXInd0X
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IRS990/InsuranceGrp/ProgramServicesAmt0330266
IRS990/InsuranceGrp/TotalAmt0351713
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IRS990/InterestGrp/TotalAmt09633
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE MISSION OF YVEDDI IS TO PROVIDE QUALITY PROGRAMS AND SERVICES TO ALLEVIATE THE CAUSES AND CONDITIONS OF POVERTY AND TO ENHANCE THE QUALITY OF LIFE FOR LOW INCOME AND ELDERLY CITIZENS.
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IRS990/OccupancyGrp/ProgramServicesAmt0369696
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt01
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0118043
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01244716
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IRS990/OtherExpensesGrp/Desc2FOOD
IRS990/OtherExpensesGrp/Desc3COMMUNICATIONS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt128978
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IRS990/OtherExpensesGrp/ProgramServicesAmt01081947
IRS990/OtherExpensesGrp/ProgramServicesAmt1709421
IRS990/OtherExpensesGrp/ProgramServicesAmt2404936
IRS990/OtherExpensesGrp/ProgramServicesAmt3295461
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IRS990/OtherExpensesGrp/TotalAmt1738399
IRS990/OtherExpensesGrp/TotalAmt2404936
IRS990/OtherExpensesGrp/TotalAmt3340066
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IRS990/OtherLiabilitiesGrp/EOYAmt0178698
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0337139
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IRS990/ProgramServiceRevenueGrp/Desc0TRANSPORTATION
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IRS990/ProgramServiceRevenueGrp/Desc2WAP
IRS990/ProgramServiceRevenueGrp/Desc3SURRY FAM RESOURCE CTR
IRS990/ProgramServiceRevenueGrp/Desc4SENIOR CENTERS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1706619
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2415829
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3143563
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt424115
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1706619
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2415829
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3143563
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt424115
IRS990/ProgSrvcAccomActy2Grp/Desc0YVEDDI IS ENGAGED IN PROVIDING EARLY LEARNING OPPORTUNITIES TO ELIGIBLE PARTICIPANTS IN THE FOUR COUNTY AREA. THE SERVICES ARE PROVIDED UNDER HEAD START GRANTS AND LOCAL AND STATE CONTRACTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03820296
IRS990/ProgSrvcAccomActy3Grp/Desc0YVEDDI PROVIDES CHILD AND ELDERLY NUTRITION SERVICES TO ELIGIBLE PARTICIPANTS IN THE FOUR COUNTY AREA. THESE SERVICES ARE PROVIDED UNDER THE USDA CHILD AND ADULT FOOD PROGRAMS, USDA COMMODITY FOODS AND THE US DHHS TITLE III, PART C ELDERLY NUTRITION PROGRAMS.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER PROGRAMS
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt04460418
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt09811785
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt05206873
IRS990/PYProgramServiceRevenueAmt01973942
IRS990/PYRevenuesLessExpensesAmt0936057
IRS990/PYSalariesCompEmpBnftPaidAmt05644968
IRS990/PYTotalExpensesAmt010851841
IRS990/PYTotalRevenueAmt011787898
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-460486
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0856764
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt09811875
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt07338789
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt07259758
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt08400293
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt042693915
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02171
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01704
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0603
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01763
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt06241
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03948545
IRS990ScheduleA/PublicOrganization170Ind0X

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.88$3.18$5.70$13.6$12.6$0.92
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.23$2.45$4.78$15.8$16.1$0.23
2023Detailed filing. Detailed filing data is available for this year.$6.37$1.74$4.63$15.3$15.0$0.27
2022Detailed filing. Detailed filing data is available for this year.$5.76$1.42$4.34$13.9$14.3$0.46
2021Detailed filing. Detailed filing data is available for this year.$6.01$1.21$4.80$11.8$10.9$0.94
2020Detailed filing. Detailed filing data is available for this year.$4.80$1.30$3.50$11.5$11.8$0.36
2019Detailed filing. Detailed filing data is available for this year.$4.78$1.49$3.29$11.7$12.3$0.57
2018Detailed filing. Detailed filing data is available for this year.$5.25$1.73$3.52$12.1$12.5$0.38
2017Detailed filing. Detailed filing data is available for this year.$4.78$1.22$3.56$12.1$12.5$0.34
2016Detailed filing. Detailed filing data is available for this year.$4.42$0.89$3.54$12.5$12.2$0.25
2015Detailed filing. Detailed filing data is available for this year.$3.89$0.94$2.95$10.7$12.0$1.35
2014Summary only. Only limited summary data is available for this year.$5.67$1.61$4.05$11.9$12.3$0.41
2013Summary only. Only limited summary data is available for this year.$5.68$1.22$4.46$11.2$11.3$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.54$1.00$4.55$11.3
2011Summary only. Only limited summary data is available for this year.$4.79$0.78$4.01$11.1$10.8$0.31