Civic Intelligence

Mcdowell Economic Development Association Inc.

990 • Fiscal year 2019 • EIN 56-1346748

Jul 01, 2018 to Jun 30, 2019 • Filed on Aug 30, 2019

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

80th percentile

0.15x

Higher debt load relative to assets than 80% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

66th percentile

0.01x

Higher debt load relative to revenue than 66% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

53rd percentile

4.5%

Higher net margin than 53% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

91st percentile

97%

Faster asset growth than 91% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

80th percentile

31%

Faster revenue growth than 80% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$23,346

Up $11,480 (+97%) from 2018

Net Assets

Up

$19,960

Up $11,073 (+125%) from 2018

Liabilities

Up

$3,386

Up $407 (+14%) from 2018

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin53rd percentile

Revenue

Up

$244,244

Up $57,630 (+31%) from 2018

Expenses

Up

$233,173

Up $45,722 (+24%) from 2018

Net Income

Up

$11,071

Up $11,908 (+1423%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth91st 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

2019

Assets$23,346
Liabilities$3,386
Net Assets$19,960
Open 2019 Filing

Operations Trend

Revenue Growth80th 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

2019

Revenue$244,244
Expenses$233,173
Net Income$11,071
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Aug 30, 2019
Return Version
2018v3.1
Gross Receipts
$244,244
Mission and Program Overview

Mission

The mission is to create jobs and increase the tax base in mcdowell county, whether it is through recruiting a new industry or assisting an existing industry that is expanding. In an effort to conform to this goal, meda maintains a good working relationship with the north carolina department of commerce, advantagewest, industrial realtors, utility companies, and other interested parties.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$11,866$11,083▼ $783
Land, Buildings, and Equipment, Net-$7,333-
Savings and Temporary Cash Investments-$4,930-
Total Assets$11,866$23,346▲ $11,480
Liabilities
Accounts Payable and Accrued Expenses$2,979$3,386▲ $407
Total Liabilities$2,979$3,386▲ $407
Net Assets / Fund Balance
Unrestricted Net Assets$8,887$19,960▲ $11,073
Total Net Assets Fund Balance$8,887$19,960▲ $11,073
Total Liabilities and Net Assets / Fund Balance$11,866$23,346▲ $11,480

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$7,333$667$8,000
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Charles AbernathyExecutive DiFT$89,623$89,623

Board Members and Trustees

NameTitle
Joy ShuffordChairperson
Jeffery JuddVice Chairpe
David WootenSecretary Tr
Revenue and Support

Revenue Composition

Contributions and Grants
$244,243
Program Service Revenue
$0
Investment Income
$1
Other Revenue
$0
Change in Net Assets
$11,071

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$107,224
Total Noncash Contributions1$107,224
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$208,122
Other Expenses$25,051
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$83,323$27,775-$111,098
Other Employee Benefits$66,428$22,143-$88,571
Payroll Taxes$6,340$2,113-$8,453
Office Expenses-$5,543-$5,543
Occupancy-$3,231-$3,231
Travel$2,839--$2,839
Fees for Services Accounting-$2,421-$2,421
Conferences and Meetings-$2,111-$2,111
Insurance$1,435$478-$1,913
Depreciation Depletion$667--$667
All Other Expenses$274$160-$434
Advertising-$250-$250
Other Expenses$240$2,267-$240
Total Functional Expenses$164,681$68,492$0$233,173
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 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

“Annual review by board of directors officers”

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

“ANNUAL REVIEW OF POLICY”

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

“Recorded in minutes of director meetings. Review of compensation via budget process.”

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

“Recorded in minutes of director meetings. Review of compensation via budget process.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Mcdowell Economic Development
EIN
56-1346748
Phone
8286529391
Address
PO BOX 1289, MARION, NC 28752

Signing Officer

Name
Joy Shufford
Title
Chairperson
Phone
8287247294
Signed
2019-08-30
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 CPA Pa
Address
260 EAST COURT STREET, MARION, NC 28752
Preparer
Alfred M Shiver CPA
Phone
8286527319
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission is to create jobs and increase the tax base in mcdowell county, whether it is through recruiting a new industry or assisting an existing industry that is expanding. In an effort to conform to this goal, meda maintains a good working relationship with the north carolina department of commerce, advantagewest, industrial realtors, utility companies, and other interested parties.”

Form 990, Page 1, Part I, Line 6

“Volunteer board of directors”

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

“FACADE RENOVATIONS”

Form 990, Part XI, Line 9

“ROUNDING 2”

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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 MISSION IS TO CREATE JOBS AND INCREASE THE TAX BASE IN MCDOWELL COUNTY, WHETHER IT IS THROUGH RECRUITING A NEW INDUSTRY OR ASSISTING AN EXISTING INDUSTRY THAT IS EXPANDING. IN AN EFFORT TO CONFORM TO THIS GOAL, MEDA MAINTAINS A GOOD WORKING RELATIONSHIP WITH THE NORTH CAROLINA DEPARTMENT OF COMMERCE, ADVANTAGEWEST, INDUSTRIAL REALTORS, UTILITY COMPANIES, AND OTHER INTERESTED PARTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VOLUNTEER BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FACADE RENOVATIONS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL REVIEW BY BOARD OF DIRECTORS OFFICERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANNUAL REVIEW OF POLICY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5RECORDED IN MINUTES OF DIRECTOR MEETINGS. REVIEW OF COMPENSATION VIA BUDGET PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6RECORDED IN MINUTES OF DIRECTOR MEETINGS. REVIEW OF COMPENSATION VIA BUDGET PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ROUNDING 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt011866
IRS990/TotalAssetsEOYAmt023346
IRS990/TotalAssetsGrp/BOYAmt011866
IRS990/TotalAssetsGrp/EOYAmt023346
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0244243
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt068492
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0164681
IRS990/TotalFunctionalExpensesGrp/TotalAmt0233173
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02979
IRS990/TotalLiabilitiesEOYAmt03386
IRS990/TotalLiabilitiesGrp/BOYAmt02979
IRS990/TotalLiabilitiesGrp/EOYAmt03386
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08887
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt019960
IRS990/TotalOtherProgSrvcExpenseAmt0667
IRS990/TotalProgramServiceExpensesAmt0164681
IRS990/TotalReportableCompFromOrgAmt089623
IRS990/TotalRevenueGrp/ExclusionAmt01
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0244244
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011866
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt023346
IRS990/TravelGrp/ProgramServicesAmt02839
IRS990/TravelGrp/TotalAmt02839
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt08887
IRS990/UnrestrictedNetAssetsGrp/EOYAmt019960
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt020
IRS990/VotingMembersIndependentCnt020
IRS990/WebsiteAddressTxt0WWW.MCDOWELLNCEDA.GOVOFFICE3.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOY SHUFFORD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRPERSON
ReturnHeader/BusinessOfficerGrp/PhoneNum08287247294
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-08-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MCDOWELL ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MCDO
ReturnHeader/Filer/EIN0561346748
ReturnHeader/Filer/PhoneNum08286529391
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1289
ReturnHeader/Filer/USAddress/CityNm0MARION
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028752
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0CE2DD42387BB6EE883EA6929C773998C216C1607
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CE2DD42387BB6EE883EA6929C773998C216C1607
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt047.49.182.250
ReturnHeader/FilingSecurityInformation/IPDt02019-09-05
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:43:26
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561319330
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ALFRED M SHIVER CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0260 EAST COURT STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MARION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028752
ReturnHeader/PreparerPersonGrp/PhoneNum08286527319
ReturnHeader/PreparerPersonGrp/PreparationDt02019-08-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALFRED M SHIVER CPA
ReturnHeader/ReturnTs02019-09-05T10:43:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,346
Liabilities
$3,386
Net assets
$19,960
Revenue
$244,244
Expenses
$233,173
Net income
$11,071
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