Civic Intelligence

Piedmont Triad Regional Development Corporation

990 • Fiscal year 2019 • EIN 56-1438854

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 30, 2020

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

59th percentile

0.06x

Higher debt load relative to assets than 59% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

56th percentile

0.05x

Higher debt load relative to revenue than 56% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

96th percentile

77%

Higher net margin than 96% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

95th percentile

123%

Faster asset growth than 95% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

579%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$550,488

Up $303,688 (+123%) from 2018

Net Assets

Up

$515,959

Up $555,104 (+1418%) from 2018

Liabilities

Down

$34,529

Down $251,416 (-88%) from 2018

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin96th percentile

Revenue

Up

$725,286

Up $618,438 (+579%) from 2018

Expenses

Up

$170,182

Up $11,774 (+7.4%) from 2018

Net Income

Up

$555,104

Up $606,664 (+1177%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth95th 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

2019

Assets$550,488
Liabilities$34,529
Net Assets$515,959
Open 2019 Filing

Operations Trend

Revenue Growth99th 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

2019

Revenue$725,286
Expenses$170,182
Net Income$555,104
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 30, 2020
Return Version
2018v3.2
Gross Receipts
$725,286
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
Accounts Receivable$41,550$331,936▲ $290,386
Cash and Non-Interest-Bearing Accounts$205,250$187,629▼ $17,621
Total Assets$246,800$550,488▲ $303,688
Other Assets Total-$30,923-
Liabilities
Accounts Payable and Accrued Expenses$44,395$17,729▼ $26,666
Other Liabilities$241,550$16,800▼ $224,750
Total Liabilities$285,945$34,529▼ $251,416
Net Assets / Fund Balance
Unrestricted Net Assets$-39,145$515,959▲ $555,104
Total Net Assets Fund Balance$-39,145$515,959▲ $555,104
Total Liabilities and Net Assets / Fund Balance$246,800$550,488▲ $303,688

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$10,668--
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Darrell FryePresident
Alan MurdockDirector
Amy GaleyDirector
Cori LindsayDirector
David AllenDirector
Don MartinDirector
Elbert LassiterDirector
Evan RaleighDirector
Gary BlakeDirector
Hank HenningDirector
Harold MartinDirector
J Douglas BrewerDirector
Jay WagnerDirector
Jeffrey FrederickDirector
Jim LewisDirector
Larry JohnsonDirector
Lee RollinsDirector
Leigh CockramDirector
Mark MoranDirector
Mike WhiteheadDirector
Patty PhillipsDirector
Penny WhiteheartDirector
Rick MorrisDirector
Terry RenegarDirector
Von RobertsonDirector
Wayne MooreDirector
William CockerhamDirector
Walter DenningAsst Sec/tre
Chris PhelpsExecutive Di
Scott RhineExecutive Di
Zeb HannerSecretary
Andy AndersonTreasurer
Jim MathenyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$675,031
Program Service Revenue
$38,603
Investment Income
$11,652
Other Revenue
$0
Change in Net Assets
$555,104

Audited Revenue Reconciliation

Revenue per Audited Statements
$725,286
Total Revenue per Audited Statements
$725,286
Total Revenue per Form 990
$725,286
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$132,480
Salaries, Compensation, and Employee Benefits$37,702
Total Fundraising Expense$2,010
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$107,176--$107,176
Other Salaries and Wages$26,369--$26,369
Other Employee Benefits$9,323-$2,010$11,333
Conferences and Meetings$8,932--$8,932
Other Expenses$5,057--$5,057
Fees for Services Legal-$4,000-$4,000
Fees for Services Accounting$3,300--$3,300
Travel$1,807--$1,807
Occupancy$1,575--$1,575
Office Expenses$633--$633
Total Functional Expenses$164,172$4,000$2,010$170,182

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$170,182
Total Expenses per Audited Statements$170,182
Total Expenses per Form 990$170,182
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
Revolving Loan Deferred Revenue$16,800
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
Darrell Frye
Title
President
Phone
3369040300
Signed
2020-01-30
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
0

Preparer

Firm
Cannon & Company Llp
Address
2160 COUNTRY CLUB RD, WINSTONSALEM, NC 27104-4208
Preparer
Valerie D Kiger
Phone
3367250635
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting & professional 92,820 0 0 indirect allocated 14,356 0 0 total 107,176 0 0”

Form 990, Part XI, Line 9

“Sba service fees 0 sba service fees 0”

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, 2017, 2018, and 2019 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 0”

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

“SBA SERVICE FEES 0”

Raw XML AppendixShowing 400 of 552 raw XML fields

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/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$550,488
Liabilities
$34,529
Net assets
$515,959
Revenue
$725,286
Expenses
$170,182
Net income
$555,104
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