Civic Intelligence

Piedmont Triad Regional Development Corporation

990 • Fiscal year 2017 • EIN 56-1438854

Jul 01, 2016 to Jun 30, 2017 • Filed on Dec 05, 2017

Organization ProfileWWW.PTRC.ORG
1398 Carrollton Crossing DriveKernersville, NC 27284

(336) 904-0300

Siviq Scores

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

Liabilities / Assets

94th percentile

0.92x

Higher debt load relative to assets than 94% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

96th percentile

1.03x

Higher debt load relative to revenue than 96% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

63rd percentile

9.7%

Higher net margin than 63% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

94th percentile

165%

Faster asset growth than 94% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

12th percentile

-40%

Faster revenue growth than 12% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$151,392

Up $94,279 (+165%) from 2016

Net Assets

Up

$12,415

Up $12,992 (+2252%) from 2016

Liabilities

Up

$138,977

Up $81,287 (+141%) from 2016

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin63rd percentile

Revenue

Down

$134,545

Down $89,295 (-40%) from 2016

Expenses

Up

$121,553

Up $72,307 (+147%) from 2016

Net Income

Down

$12,992

Down $161,602 (-93%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $17,965Liabilities 2011: $51,6472011Assets 2012: $35,856Liabilities 2012: $130,6862012Assets 2013: $54,885Liabilities 2013: $210,700Net Assets 2013: -$155,8152013Assets 2014: $106,110Liabilities 2014: $296,598Net Assets 2014: -$190,4882014Assets 2015: $48,269Liabilities 2015: $223,440Net Assets 2015: -$175,1712015Assets 2016: $57,113Liabilities 2016: $57,690Net Assets 2016: -$5772016Assets 2017: $151,392Liabilities 2017: $138,977Net Assets 2017: $12,4152017Assets 2018: $246,800Liabilities 2018: $285,945Net Assets 2018: -$39,1452018Assets 2019: $550,488Liabilities 2019: $34,529Net Assets 2019: $515,9592019Assets 2020: $1,290,956Liabilities 2020: $548,575Net Assets 2020: $742,3812020Assets 2021: $3,738,707Liabilities 2021: $1,266,936Net Assets 2021: $2,471,7712021Assets 2022: $5,174,501Liabilities 2022: $1,430,731Net Assets 2022: $3,743,7702022Assets 2023: $4,723,817Liabilities 2023: $420,936Net Assets 2023: $4,302,8812023Assets 2024: $5,308,982Liabilities 2024: $1,183,228Net Assets 2024: $4,125,7542024Assets 2025: $5,018,023Liabilities 2025: $615,971Net Assets 2025: $4,402,0522025

Highlighted filing

2017

Assets$151,392
Liabilities$138,977
Net Assets$12,415
Open 2017 Filing

Operations Trend

Revenue Growth12th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $89,989Expenses 2011: $127,263Net Income 2011: -$37,2742011Revenue 2012: $73,836Expenses 2012: $134,984Net Income 2012: -$61,1482012Revenue 2013: $70,099Expenses 2013: $131,084Net Income 2013: -$60,9852013Revenue 2014: $63,452Expenses 2014: $98,126Net Income 2014: -$34,6742014Revenue 2015: $44,000Expenses 2015: $28,683Net Income 2015: $15,3172015Revenue 2016: $223,840Expenses 2016: $49,246Net Income 2016: $174,5942016Revenue 2017: $134,545Expenses 2017: $121,553Net Income 2017: $12,9922017Revenue 2018: $106,848Expenses 2018: $158,408Net Income 2018: -$51,5602018Revenue 2019: $725,286Expenses 2019: $170,182Net Income 2019: $555,1042019Revenue 2020: $523,509Expenses 2020: $297,086Net Income 2020: $226,4232020Revenue 2021: $2,232,298Expenses 2021: $502,908Net Income 2021: $1,729,3902021Revenue 2022: $1,939,896Expenses 2022: $667,897Net Income 2022: $1,271,9992022Revenue 2023: $1,204,917Expenses 2023: $645,806Net Income 2023: $559,1112023Revenue 2024: $1,986,634Expenses 2024: $1,670,696Net Income 2024: $315,9382024Revenue 2025: $620,104Expenses 2025: $343,806Net Income 2025: $276,2982025

Highlighted filing

2017

Revenue$134,545
Expenses$121,553
Net Income$12,992
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Dec 5, 2017
Return Version
2016v3.0
Gross Receipts
$134,545
Mission and Program Overview

Mission

Processing sba section 504 loans. Development and implementation of the comprehensive economic development strategy for the piedmont triad economic development district.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$57,113$151,392▲ $94,279
Total Assets$57,113$151,392▲ $94,279
Liabilities
Other Liabilities$57,690$138,977▲ $81,287
Total Liabilities$57,690$138,977▲ $81,287
Net Assets / Fund Balance
Unrestricted Net Assets$-577$12,415▲ $12,992
Total Net Assets Fund Balance$-577$12,415▲ $12,992
Total Liabilities and Net Assets / Fund Balance$57,113$151,392▲ $94,279
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Darrell FryePresident
Alan MurdockDirector
Andy McdowellDirector
Craig HoneycuttDirector
David AllenDirector
David OwenDirector
Don MartinDirector
Ed HooksDirector
Ernest LankfordDirector
Gary BlakeDirector
Hank HenningDirector
Harold MartinDirector
J Douglas BrewerDirector
Jan CritzDirector
Jeffrey FrederickDirector
Jim LewisDirector
John FergusonDirector
Larry PhillipsDirector
Latimer AlexanderDirector
Lee RollinsDirector
Mark MoranDirector
Mike WhiteheadDirector
Penny WhiteheartDirector
Robert HyattDirector
Scott RhineDirector
Sharon ConawayDirector
Von RobertsonDirector
Wayne MooreDirector
William CockerhamDirector
Walter DenningAsst Sec/tre
Matthew DolgeExecutive Di
Derwick PageSecretary
Andy AndersonTreasurer
Jim MathenyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$83,138
Program Service Revenue
$51,357
Investment Income
$50
Other Revenue
$0
Change in Net Assets
$12,992

Audited Revenue Reconciliation

Revenue per Audited Statements
$123,522
Revenue Not Reported on Financial Statements
$11,023
Other Revenue Adjustments
$11,023
Total Revenue per Audited Statements
$123,522
Total Revenue per Form 990
$134,545
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$84,055
Salaries, Compensation, and Employee Benefits$37,498
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$43,594--$43,594
Other Salaries and Wages$27,074--$27,074
Other Employee Benefits$10,424--$10,424
Fees for Services Legal$7,245--$7,245
Fees for Services Accounting$3,100--$3,100
Conferences and Meetings$3,058--$3,058
Travel$1,557--$1,557
Other Expenses$365--$365
All Other Expenses$42--$42
Total Functional Expenses$121,553$0$0$121,553

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$121,553
Expenses per Audited Statements$110,530
Total Expenses per Audited Statements$110,530
Expenses Not Reported on Financial Statements$11,023
Other Expense Adjustments$11,023
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
Due to Piedmont Triad Regional Counc$110,530
Deferred Federal Grant Revenue$23,447
Loan Fee Deposits$5,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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

“990 is reviewed by the board prior to filing”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available upon request”

Filing and Contact Details

Filer

Filer Name
Piedmont Triad Regional Development
EIN
56-1438854
Phone
3369040300
Address
1398 CARROLLTON CROSSING DRIVE, KERNERSVILLE, NC 27284

Signing Officer

Name
Matthew Dolge
Title
Executive Director
Phone
3367612111
Signed
2017-12-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Darrell Frye
Formed
1983
Legal Domicile
Nc
Voting Board Members
33
Independent Board Members
33
Employees
1

Preparer

Firm
Cannon & Company Llp
Address
2160 COUNTRY CLUB RD, WINSTONSALEM, NC 27104-4208
Preparer
Richard J Tamer
Phone
3367250635
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 2

“An eda grant was received to assist in economic development strategy for piedmont triad area”

Form 990, Part IX, Line 11G

“Consulting & professional 17,005 0 0 consulting & professional 26,589 0 0 total 43,594 0 0”

Form 990, Part XI, Line 9

“Sba service fees -11,023 sba service fees 11,023”

Financial Statement Notes

Schedule D, Page 3, Part X

“The corporation was organized exclusively for charitable purposes and has qualified as a nonprofit corporation under chapter 55a of the laws of the state of north carolina and section 501(c) (3) of the internal revenue code. The corporation believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The corporation's forms 990, return of organization exempt from income tax, for the years ending june 30, 2015, 2016 and 2017 are subject to examination by the irs, generally for three years after they were filed.”

Schedule D, Page 4, Part XI, Line 4B

“SBA SERVICE FEES 11,023”

Schedule D, Page 4, Part XII, Line 4B

“SBA SERVICE FEES 11,023”

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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4ASST SEC/TRE
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt33EXECUTIVE DI
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$151,392
Liabilities
$138,977
Net assets
$12,415
Revenue
$134,545
Expenses
$121,553
Net income
$12,992
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.02$0.62$4.40$0.62$0.34$0.28
2024Detailed filing. Detailed filing data is available for this year.$5.31$1.18$4.13$1.99$1.67$0.32
2023Detailed filing. Detailed filing data is available for this year.$4.72$0.42$4.30$1.20$0.65$0.56
2022Detailed filing. Detailed filing data is available for this year.$5.17$1.43$3.74$1.94$0.67$1.27
2021Detailed filing. Detailed filing data is available for this year.$3.74$1.27$2.47$2.23$0.50$1.73
2020Detailed filing. Detailed filing data is available for this year.$1.29$0.55$0.74$0.52$0.30$0.23
2019Detailed filing. Detailed filing data is available for this year.$0.55$0.03$0.52$0.73$0.17$0.56
2018Detailed filing. Detailed filing data is available for this year.$0.25$0.29$0.04$0.11$0.16$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.15$0.14$0.01$0.13$0.12$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.06$0.06$0.00$0.22$0.05$0.17
2015Detailed filing. Detailed filing data is available for this year.$0.05$0.22$0.18$0.04$0.03$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.11$0.30$0.19$0.06$0.10$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.21$0.16$0.07$0.13$0.06
2012Summary only. Only limited summary data is available for this year.$0.04$0.13$0.07$0.13$0.06
2011Summary only. Only limited summary data is available for this year.$0.02$0.05$0.09$0.13$0.04