Civic Intelligence

Lincoln Economic Development Association

990 • Fiscal year 2018 • EIN 56-1188297

Jul 01, 2017 to Jun 30, 2018 • Filed on Sep 08, 2018

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

27th percentile

0.04x

Higher debt load relative to assets than 27% of similar nonprofits.

2018 filings • NTEE S • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

25th percentile

0.06x

Higher debt load relative to revenue than 25% of similar nonprofits.

2018 filings • NTEE S • $1M-$5M nonprofits • Source year 2018

Net Margin

34th percentile

-1.9%

Higher net margin than 34% of similar nonprofits.

2018 filings • NTEE S • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

58th percentile

$123,840

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 15.3% of source-year revenue.

2018 filings • NTEE S • $1M-$5M nonprofits • Source year 2018

Asset Growth

22nd percentile

-6.1%

Faster asset growth than 22% of similar nonprofits.

2018 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

56th percentile

7.5%

Faster revenue growth than 56% of similar nonprofits.

2018 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$1,123,363

Down $72,376 (-6.1%) from 2017

Net Assets

Down

$1,074,562

Down $15,220 (-1.4%) from 2017

Liabilities

Down

$48,801

Down $57,156 (-54%) from 2017

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin34th percentile

Revenue

Up

$811,597

Up $56,837 (+7.5%) from 2017

Expenses

Up

$826,817

Up $44,371 (+5.7%) from 2017

Net Income

Up

-$15,220

Up $12,466 (+45%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth22nd 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

2018

Assets$1,123,363
Liabilities$48,801
Net Assets$1,074,562
Open 2018 Filing

Operations Trend

Revenue Growth56th 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

2018

Revenue$811,597
Expenses$826,817
Net Income-$15,220
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Sep 8, 2018
Return Version
2017v2.2
Gross Receipts
$811,597
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$725,435$720,512▼ $4,923
Cash and Non-Interest-Bearing Accounts$293,892$225,083▼ $68,809
Savings and Temporary Cash Investments$64,719$65,043▲ $324
Other Notes and Loans Receivable, Net$45,225$45,225→ $0
Prepaid Expenses and Deferred Charges$6,067$6,599▲ $532
Accounts Receivable-$500-
Total Assets$1,195,739$1,123,363▼ $72,376
Other Assets Total$60,401$60,401→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$60,401--
Accounts Payable and Accrued Expenses$40,878$48,052▲ $7,174
Deferred Revenue$4,678$749▼ $3,929
Total Liabilities$105,957$48,801▼ $57,156
Net Assets / Fund Balance
Unrestricted Net Assets$993,293$989,905▼ $3,388
Temporarily Rstr Net Assets$96,489$84,657▼ $11,832
Total Net Assets Fund Balance$1,089,782$1,074,562▼ $15,220
Total Liabilities and Net Assets / Fund Balance$1,195,739$1,123,363▼ $72,376

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$444,684$169,901$614,585
Land$230,000-$230,000
Other Land Buildings$1,554$162,344$163,898
Equipment$44,274$50,894$95,168
Other Assets Org$60,401--
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Cliff BrumfieldExecutive DirectorFT$123,840$123,840

Board Members and Trustees

NameTitle
Jim WatsonChairman
Joe LampronVice Chair
Ed HatleyDirector
Kim PhillipsDirector
Martin OakesDirector
Myra HeavnerDirector
Sam HouserDirector
Tommy HuskeyDirector
Beverly GilbertTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$695,566
Program Service Revenue
$96,596
Investment Income
$446
Other Revenue
$18,989
Change in Net Assets
$-15,220

Audited Revenue Reconciliation

Revenue per Audited Statements
$811,597
Total Revenue per Audited Statements
$811,597
Total Revenue per Form 990
$811,597
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$509,911
Other Expenses$316,906
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$216,260$38,164-$254,424
Current Officers, Directors, Trustees, and Key Employees$105,264$18,576-$123,840
Other Employee Benefits$65,230$11,511-$76,741
Advertising$62,684--$62,684
Depreciation Depletion$35,417--$35,417
Payroll Taxes$24,367$4,300-$28,667
Other Expenses$5,610$22,441-$28,051
Office Expenses$18,003$9,694-$27,697
Pension Plan Contributions$22,303$3,936-$26,239
All Other Expenses$15,512$2,315-$17,827
Occupancy$12,983$3,246-$16,229
Travel$7,618$5,078-$12,696
Fees for Services Accounting-$7,105-$7,105
Fees for Services Legal-$5,334-$5,334
Conferences and Meetings$2,649$662-$3,311
Interest$319$1,272-$1,591
Total Functional Expenses$693,183$133,634$0$826,817

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$826,817
Total Expenses per Audited Statements$826,817
Total Expenses per Form 990$826,817
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
2018-09-08
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
6

Preparer

Firm
Breazeale Kiser Hoyle & Lawing Pa
Address
PO BOX 9148, Hickory, NC 28603
Preparer
G Carroll Hoyle 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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IRS990/OtherExpensesGrp/Desc3OPERATIONS
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IRS990/OtherExpensesGrp/ProgramServicesAmt166397
IRS990/OtherExpensesGrp/ProgramServicesAmt28256
IRS990/OtherExpensesGrp/ProgramServicesAmt35610
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IRS990/OtherExpensesGrp/TotalAmt166397
IRS990/OtherExpensesGrp/TotalAmt28256
IRS990/OtherExpensesGrp/TotalAmt328051
IRS990/OtherInd0X
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IRS990/ProgramServiceRevenueGrp/Desc1LCIP CAP IMP INC
IRS990/ProgramServiceRevenueGrp/Desc2PRIVATE BUSINESS GRANT
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13929
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IRS990/PYInvestmentIncomeAmt0665
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IRS990/ReconcilationRevenueExpnssAmt0-15220
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0681358
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03710221
IRS990ScheduleA/TotalSupportAmt03712506
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0444684
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0169901
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0614585
IRS990ScheduleD/EquipmentGrp/BookValueAmt044274
IRS990ScheduleD/EquipmentGrp/DepreciationAmt050894
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt095168
IRS990ScheduleD/ExpensesSubtotalAmt0826817
IRS990ScheduleD/LandGrp/BookValueAmt0230000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0230000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt060401
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND AIRLIE BUSINESS PARK
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01554
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0162344
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0163898
IRS990ScheduleD/RevenueSubtotalAmt0811597
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0720512
IRS990ScheduleD/TotalBookValueOtherAssetsAmt060401
IRS990ScheduleD/TotalExpensesPerForm990Amt0826817
IRS990ScheduleD/TotalRevenuePerForm990Amt0811597
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IRS990/ScheduleORequiredInd0true
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/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0LINCOLN COUNTY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1CITY OF LINCOLNTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2CHARLOTTE REGIONAL PARTNERSHIP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3LINCOLN COUNTY INDUSTRIAL PARK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0566000315
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1566001269
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2581457132
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt3501C4
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd3NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0FUNDING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1FUNDING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2FUNDING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt3MAINTENANCE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt06

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,123,363
Liabilities
$48,801
Net assets
$1,074,562
Revenue
$811,597
Expenses
$826,817
Net income
-$15,220
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
2018Detailed filing. Detailed filing data is available for this year.$1.12$0.05$1.07$0.81$0.83$0.02
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$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