Civic Intelligence

Lincoln Economic Development Association

990 • Fiscal year 2017 • EIN 56-1188297

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 20, 2017

Organization ProfileWWW.LINCOLNEDA.ORG
502 East Main StreetLincolnton, NC 28092

(704) 732-1511

Siviq Scores

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

Liabilities / Assets

36th percentile

0.09x

Higher debt load relative to assets than 36% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

40th percentile

0.14x

Higher debt load relative to revenue than 40% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Net Margin

32nd percentile

-3.7%

Higher net margin than 32% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

57th percentile

$120,233

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 15.9% of source-year revenue.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Asset Growth

17th percentile

-7.9%

Faster asset growth than 17% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

26th percentile

-9.6%

Faster revenue growth than 26% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets36th percentile

Assets

Down

$1,195,739

Down $103,137 (-7.9%) from 2016

Net Assets

Down

$1,089,782

Down $27,686 (-2.5%) from 2016

Liabilities

Down

$105,957

Down $75,451 (-42%) from 2016

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin32nd percentile

Revenue

Down

$754,760

Down $79,766 (-9.6%) from 2016

Expenses

Down

$782,446

Down $8,139 (-1.0%) from 2016

Net Income

Down

-$27,686

Down $71,627 (-163%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,629,788Liabilities 2011: $601,060Net Assets 2011: $1,028,7282011Assets 2012: $1,597,933Liabilities 2012: $442,671Net Assets 2012: $1,155,2622012Assets 2013: $1,359,123Liabilities 2013: $386,010Net Assets 2013: $973,1132013Assets 2014: $1,304,453Liabilities 2014: $330,287Net Assets 2014: $974,1662014Assets 2015: $1,349,879Liabilities 2015: $276,352Net Assets 2015: $1,073,5272015Assets 2016: $1,298,876Liabilities 2016: $181,408Net Assets 2016: $1,117,4682016Assets 2017: $1,195,739Liabilities 2017: $105,957Net Assets 2017: $1,089,7822017Assets 2018: $1,123,363Liabilities 2018: $48,801Net Assets 2018: $1,074,5622018Assets 2019: $1,128,285Liabilities 2019: $124,589Net Assets 2019: $1,003,6962019Assets 2020: $1,014,294Liabilities 2020: $111,234Net Assets 2020: $903,0602020Assets 2021: $984,675Liabilities 2021: $110,712Net Assets 2021: $873,9632021Assets 2022: $906,261Liabilities 2022: $71,268Net Assets 2022: $834,9932022Assets 2023: $892,121Liabilities 2023: $69,918Net Assets 2023: $822,2032023Assets 2024: $906,252Liabilities 2024: $97,222Net Assets 2024: $809,0302024Assets 2025: $852,665Liabilities 2025: $80,240Net Assets 2025: $772,4252025

Highlighted filing

2017

Assets$1,195,739
Liabilities$105,957
Net Assets$1,089,782
Open 2017 Filing

Operations Trend

Revenue Growth26th percentile

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

$1.0M$500K$0-$500KExpenses 2011: $700,4742011Expenses 2012: $667,9422012Expenses 2013: $663,0012013Revenue 2014: $718,852Expenses 2014: $717,799Net Income 2014: $1,0532014Revenue 2015: $811,377Expenses 2015: $712,013Net Income 2015: $99,3642015Revenue 2016: $834,526Expenses 2016: $790,585Net Income 2016: $43,9412016Revenue 2017: $754,760Expenses 2017: $782,446Net Income 2017: -$27,6862017Revenue 2018: $811,597Expenses 2018: $826,817Net Income 2018: -$15,2202018Revenue 2019: $800,551Expenses 2019: $871,417Net Income 2019: -$70,8662019Revenue 2020: $765,545Expenses 2020: $866,181Net Income 2020: -$100,6362020Revenue 2021: $831,995Expenses 2021: $861,092Net Income 2021: -$29,0972021Revenue 2022: $833,386Expenses 2022: $872,356Net Income 2022: -$38,9702022Revenue 2023: $829,669Expenses 2023: $842,459Net Income 2023: -$12,7902023Revenue 2024: $939,016Expenses 2024: $952,189Net Income 2024: -$13,1732024Revenue 2025: $921,266Expenses 2025: $957,883Net Income 2025: -$36,6172025

Highlighted filing

2017

Revenue$754,760
Expenses$782,446
Net Income-$27,686
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 20, 2017
Return Version
2016v3.0
Gross Receipts
$754,760
Mission and Program Overview

Mission

To foster an economic environment that promotes an enhancement of the standard of living by creating more and better jobs for the citizens of lincolnton and lincoln county and an increased and diversified tax base to proivde needed community services.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$724,131$725,435▲ $1,304
Cash and Non-Interest-Bearing Accounts$399,061$293,892▼ $105,169
Savings and Temporary Cash Investments$64,200$64,719▲ $519
Other Notes and Loans Receivable, Net$45,225$45,225→ $0
Prepaid Expenses and Deferred Charges$5,858$6,067▲ $209
Total Assets$1,298,876$1,195,739▼ $103,137
Other Assets Total$60,401$60,401→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$132,079$60,401▼ $71,678
Accounts Payable and Accrued Expenses$40,256$40,878▲ $622
Deferred Revenue$9,073$4,678▼ $4,395
Total Liabilities$181,408$105,957▼ $75,451
Net Assets / Fund Balance
Unrestricted Net Assets$1,007,588$993,293▼ $14,295
Temporarily Rstr Net Assets$109,880$96,489▼ $13,391
Total Net Assets Fund Balance$1,117,468$1,089,782▼ $27,686
Total Liabilities and Net Assets / Fund Balance$1,298,876$1,195,739▼ $103,137

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$462,103$152,482$614,585
Land$230,000-$230,000
Other Land Buildings$2,983$160,915$163,898
Equipment$30,349$57,217$87,566
Other Assets Org$60,401--
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Cliff BrumfieldExecutive DirectorFT$120,233$120,233

Board Members and Trustees

NameTitle
Jim WatsonChairman
Tim HolderVice Chair
Ed HatleyDirector
Joe LampronDirector
Martin OakesDirector
Samuel C KingDirector
Tom AndersonDirector
Tommy HuskeyDirector
Beverly GilbertTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$675,975
Program Service Revenue
$61,620
Investment Income
$665
Other Revenue
$16,500
Change in Net Assets
$-27,686

Audited Revenue Reconciliation

Revenue per Audited Statements
$754,760
Total Revenue per Audited Statements
$754,760
Total Revenue per Form 990
$754,760
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$489,590
Other Expenses$292,856
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$204,399$36,070-$240,469
Current Officers, Directors, Trustees, and Key Employees$102,198$18,035-$120,233
Other Employee Benefits$61,982$10,938-$72,920
Other Expenses$11,402$45,607-$57,009
Advertising$48,319--$48,319
Depreciation Depletion$28,753--$28,753
Pension Plan Contributions$24,230$4,275-$28,505
Office Expenses$18,210$9,805-$28,015
Payroll Taxes$23,344$4,119-$27,463
Occupancy$15,179$3,795-$18,974
Travel$8,105$5,404-$13,509
All Other Expenses$10,912$1,630-$12,542
Fees for Services Accounting-$6,927-$6,927
Interest$1,290$5,162-$6,452
Conferences and Meetings$561$2,246-$2,807
Fees for Services Legal-$2,521-$2,521
Total Functional Expenses$625,912$156,534$0$782,446

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$782,446
Total Expenses per Audited Statements$782,446
Total Expenses per Form 990$782,446
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
Audit committee
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
No
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 governing body review Part VI line 11

“The form 990 was presented to and reviewed by the executive committee (officers of the board) for approval prior to filing.”

Conflict of interest policy compliance Part VI line 12C

“The board has adopted a conflict of interest policy in its board minutes for january 13, 2010 whereby board members are to report annually in writing of any such potential conflicts of interest. See other changes adopted by the board since the last form 990.”

CEO executive director top management comp Part VI line 15A

“Ceo, executive director, top management official compensation is determined by the board of directors.”

Form 990 availability to public Part VI line 18

“This information is available in the organizations office in electronic format upon request.”

Governing documents etc available to public Part VI line 19

“Form 990, part vi - governing documents disclosure explanationthis information is available on guide star website, in the personnel manual, and in the office in electronic format upon request.”

Filing and Contact Details

Filer

Filer Name
Lincoln Economic Development Associ
EIN
56-1188297
Address
502 EAST MAIN STREET, LINCOLNTON, NC 28092

Signing Officer

Name
Cliff Brumfield
Title
Secretary
Phone
7047321511
Signed
2017-11-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cliff Brumfield
Formed
1996
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
5

Preparer

Firm
Breazeale Kiser Hoyle Lawing PA
Address
PO Box 9148, Hickory, NC 28603
Preparer
J Alan Breazeale CPA
Phone
8283276868
Supplemental Narrative

Additional Explanations

General explanation attachment

“Form 990 - organizations missionto foster an economic environment that promotes an enhancement of the standard of living by creating more and better jobs for the citizens of lincolnton and lincoln county and an increased and diversified tax base to provide needed community services.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WAS PRESENTED TO AND REVIEWED BY THE EXECUTIVE COMMITTEE (OFFICERS OF THE BOARD) FOR APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD HAS ADOPTED A CONFLICT OF INTEREST POLICY IN ITS BOARD MINUTES FOR JANUARY 13, 2010 WHEREBY BOARD MEMBERS ARE TO REPORT ANNUALLY IN WRITING OF ANY SUCH POTENTIAL CONFLICTS OF INTEREST. SEE OTHER CHANGES ADOPTED BY THE BOARD SINCE THE LAST FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICIAL COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THIS INFORMATION IS AVAILABLE IN THE ORGANIZATIONS OFFICE IN ELECTRONIC FORMAT UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990, PART VI - GOVERNING DOCUMENTS DISCLOSURE EXPLANATIONTHIS INFORMATION IS AVAILABLE ON GUIDE STAR WEBSITE, IN THE PERSONNEL MANUAL, AND IN THE OFFICE IN ELECTRONIC FORMAT UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FORM 990 - ORGANIZATIONS MISSIONTO FOSTER AN ECONOMIC ENVIRONMENT THAT PROMOTES AN ENHANCEMENT OF THE STANDARD OF LIVING BY CREATING MORE AND BETTER JOBS FOR THE CITIZENS OF LINCOLNTON AND LINCOLN COUNTY AND AN INCREASED AND DIVERSIFIED TAX BASE TO PROVIDE NEEDED COMMUNITY SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990 availability to public Part VI line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5General explanation attachment
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0LINCOLN COUNTY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1CITY OF LINCOLNTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2CHARLOTTE REGIONAL PARTNERSHIP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3LINCOLN COUNTY INDUSTRIAL PARK
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NC

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,195,739
Liabilities
$105,957
Net assets
$1,089,782
Revenue
$754,760
Expenses
$782,446
Net income
-$27,686
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.85$0.08$0.77$0.92$0.96$0.04
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.91$0.10$0.81$0.94$0.95$0.01
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.89$0.07$0.82$0.83$0.84$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.07$0.83$0.83$0.87$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.98$0.11$0.87$0.83$0.86$0.03
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.01$0.11$0.90$0.77$0.87$0.10
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.13$0.12$1.00$0.80$0.87$0.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.12$0.05$1.07$0.81$0.83$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.20$0.11$1.09$0.75$0.78$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.30$0.18$1.12$0.83$0.79$0.04
2015Summary only. Only limited summary data is available for this year.$1.35$0.28$1.07$0.81$0.71$0.10
2014Detailed filing. Detailed filing data is available for this year.$1.30$0.33$0.97$0.72$0.72$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.39$0.97$0.66
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.60$0.44$1.16$0.67
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.63$0.60$1.03$0.70
Peer Organizations

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