Civic Intelligence

Mcdowell Economic Development Association Inc.

990 • Fiscal year 2021 • EIN 56-1346748

Jul 01, 2020 to Jun 30, 2021 • Filed on Aug 03, 2021

Organization ProfileWWW.MCDOWELLNCEDA.GOVOFFICE3.COM
PO Box 1289Marion, NC 28752

(828) 652-9391

Siviq Scores

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

Liabilities / Assets

70th percentile

0.07x

Higher debt load relative to assets than 70% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Liabilities / Revenue

62nd percentile

0.02x

Higher debt load relative to revenue than 62% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Net Margin

52nd percentile

10%

Higher net margin than 52% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Top Officer Pay

96th percentile

$86,078

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 55.7% of source-year revenue.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Asset Growth

81st percentile

47%

Faster asset growth than 81% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

34th percentile

-15%

Faster revenue growth than 34% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$49,086

Up $15,616 (+47%) from 2020

Net Assets

Up

$45,576

Up $15,495 (+52%) from 2020

Liabilities

Up

$3,510

Up $121 (+3.6%) from 2020

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin52nd percentile

Revenue

Down

$154,501

Down $26,357 (-15%) from 2020

Expenses

Down

$139,007

Down $31,732 (-19%) from 2020

Net Income

Up

$15,494

Up $5,375 (+53%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$150K$100K$50K$0Assets 2011: $24,785Liabilities 2011: $02011Assets 2012: $15,522Liabilities 2012: $02012Assets 2013: $61,809Liabilities 2013: $2,945Net Assets 2013: $58,8642013Assets 2014: $122,903Liabilities 2014: $4,939Net Assets 2014: $117,9642014Assets 2015: $18,757Liabilities 2015: $0Net Assets 2015: $18,7572015Assets 2016: $20,354Liabilities 2016: $2,793Net Assets 2016: $17,5612016Assets 2017: $12,549Liabilities 2017: $2,825Net Assets 2017: $9,7242017Assets 2018: $11,866Liabilities 2018: $2,979Net Assets 2018: $8,8872018Assets 2019: $23,346Liabilities 2019: $3,386Net Assets 2019: $19,9602019Assets 2020: $33,470Liabilities 2020: $3,389Net Assets 2020: $30,0812020Assets 2021: $49,086Liabilities 2021: $3,510Net Assets 2021: $45,5762021Assets 2022: $39,372Liabilities 2022: $3,504Net Assets 2022: $35,8682022Assets 2023: $86,104Liabilities 2023: $3,658Net Assets 2023: $82,4462023

Highlighted filing

2021

Assets$49,086
Liabilities$3,510
Net Assets$45,576
Open 2021 Filing

Operations Trend

Revenue Growth34th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $85,910Expenses 2011: $82,431Net Income 2011: $3,4792011Revenue 2012: $73,716Expenses 2012: $82,979Net Income 2012: -$9,2632012Revenue 2013: $306,501Expenses 2013: $298,654Net Income 2013: $7,8472013Revenue 2014: $445,745Expenses 2014: $386,645Net Income 2014: $59,1002014Revenue 2015: $412,844Expenses 2015: $403,725Net Income 2015: $9,1192015Revenue 2016: $180,029Expenses 2016: $181,225Net Income 2016: -$1,1962016Revenue 2017: $239,868Expenses 2017: $247,705Net Income 2017: -$7,8372017Revenue 2018: $186,614Expenses 2018: $187,451Net Income 2018: -$8372018Revenue 2019: $244,244Expenses 2019: $233,173Net Income 2019: $11,0712019Revenue 2020: $180,858Expenses 2020: $170,739Net Income 2020: $10,1192020Revenue 2021: $154,501Expenses 2021: $139,007Net Income 2021: $15,4942021Revenue 2022: $127,122Expenses 2022: $136,831Net Income 2022: -$9,7092022Revenue 2023: $227,897Expenses 2023: $181,319Net Income 2023: $46,5782023

Highlighted filing

2021

Revenue$154,501
Expenses$139,007
Net Income$15,494
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Aug 3, 2021
Return Version
2020v4.1
Gross Receipts
$154,501
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$18,002$34,417▲ $16,415
Savings and Temporary Cash Investments$8,935$8,936▲ $1
Land, Buildings, and Equipment, Net$6,533$5,733▼ $800
Total Assets$33,470$49,086▲ $15,616
Liabilities
Accounts Payable and Accrued Expenses$3,389$3,510▲ $121
Total Liabilities$3,389$3,510▲ $121
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$30,081$45,576▲ $15,495
Total Net Assets Fund Balance$30,081$45,576▲ $15,495
Total Liabilities and Net Assets / Fund Balance$33,470$49,086▲ $15,616

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,733$5,767$11,500
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Charles AbernathyExecutive DirectorFT$86,078$86,078

Board Members and Trustees

NameTitle
Jeffery JuddChairperson
David WootenVice Chairperson
Dennis WhitsonSecretary Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$154,499
Program Service Revenue
$0
Investment Income
$2
Other Revenue
$0
Change in Net Assets
$15,494
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$117,860
Other Expenses$21,147
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$82,113$27,371-$109,484
Payroll Taxes$6,282$2,094-$8,376
Occupancy-$4,339-$4,339
Fees for Services Accounting-$2,706-$2,706
Office Expenses-$2,500-$2,500
Insurance$1,501$500-$2,001
Depreciation Depletion$800--$800
Other Expenses$261$87-$348
Conferences and Meetings-$118-$118
All Other Expenses-$13-$13
Total Functional Expenses$97,170$41,837$0$139,007
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
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 governing body review Part VI line 11

“Form 990, part vi, line 11b - organizations process to review form 990annual review by board of directors officers”

Conflict of interest policy compliance Part VI line 12C

“Form 990, part vi, line 12c - enforcement of conflicts policyannual review of policy”

CEO executive director top management comp Part VI line 15A

“Form 990, part vi, line 15a - compensation process for top officialrecorded in minutes of director meetings. Review of compensation via budgetprocess.”

Other officer or key employee compensation Part VI line 15B

“Form 990, part vi, line 15b - compensation process for officers recorded in minutes of director meetings. Review of compensation via budgetprocess.”

Governing documents etc available to public Part VI line 19

“Form 990, part vi, line 19 - governing documents disclosure explanationavailable upon request”

Filing and Contact Details

Filer

Filer Name
Mcdowell Economic Development Association Inc
EIN
56-1346748
Address
PO BOX 1289, Marion, NC 28752

Signing Officer

Name
Jeff Judd
Title
Chairperson
Phone
8286529391
Signed
2021-08-03
Discuss with paid preparer
Yes

Organization Details

Formed
1982
Legal Domicile
Nc
Voting Board Members
20
Independent Board Members
20
Employees
2

Preparer

Firm
Alfred M Shiver PA
Address
260 East Court St, Marion, NC 28752
Preparer
Alfred M Shiver
Phone
8286527319
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Form 990, part xi, line 9 - other changes in net assets explanationrounding $ 1”

Part III response or note to any other line in Part III

“Form 990 - organizations missionthe mission is to create jobs and increase the tax base in mcdowell county,whether it is through recruiting a new industry or assisting an existingindustry that is expanding. In an effort to conform to this goal, medamaintains a good working relationship with the north carolina department ofcommerce, advantagewest, industrial realtors, utility companies, and otherinterested parties.form 990, part i, line 6volunteer board of directorsform 990, part iii, line 4d - all other accomplishmentsfacade renovations”

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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/ExplanationTxt6FORM 990 - ORGANIZATIONS MISSIONTHE MISSION IS TO CREATE JOBS AND INCREASE THE TAX BASE IN MCDOWELL COUNTY,WHETHER IT IS THROUGH RECRUITING A NEW INDUSTRY OR ASSISTING AN EXISTINGINDUSTRY THAT IS EXPANDING. IN AN EFFORT TO CONFORM TO THIS GOAL, MEDAMAINTAINS A GOOD WORKING RELATIONSHIP WITH THE NORTH CAROLINA DEPARTMENT OFCOMMERCE, ADVANTAGEWEST, INDUSTRIAL REALTORS, UTILITY COMPANIES, AND OTHERINTERESTED PARTIES.FORM 990, PART I, LINE 6VOLUNTEER BOARD OF DIRECTORSFORM 990, PART III, LINE 4D - ALL OTHER ACCOMPLISHMENTSFACADE RENOVATIONS
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Alfred M Shiver PA
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Alfred M Shiver
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ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$49,086
Liabilities
$3,510
Net assets
$45,576
Revenue
$154,501
Expenses
$139,007
Net income
$15,494
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.86$0.04$0.82$2.28$1.81$0.47
2022Detailed filing. Detailed filing data is available for this year.$0.39$0.04$0.36$1.27$1.37$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.49$0.04$0.46$1.55$1.39$0.15
2020Detailed filing. Detailed filing data is available for this year.$0.33$0.03$0.30$1.81$1.71$0.10
2019Detailed filing. Detailed filing data is available for this year.$0.23$0.03$0.20$2.44$2.33$0.11
2018Detailed filing. Detailed filing data is available for this year.$0.12$0.03$0.09$1.87$1.87$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.13$0.03$0.10$2.40$2.48$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.20$0.03$0.18$1.80$1.81$0.01
2015Summary only. Only limited summary data is available for this year.$0.19$0.00$0.19$4.13$4.04$0.09
2014Summary only. Only limited summary data is available for this year.$1.23$0.05$1.18$4.46$3.87$0.59
2013Summary only. Only limited summary data is available for this year.$0.62$0.03$0.59$3.07$2.99$0.08
2012Summary only. Only limited summary data is available for this year.$0.16$0.00$0.74$0.83$0.09
2011Summary only. Only limited summary data is available for this year.$0.25$0.00$0.86$0.82$0.03