Civic Intelligence

Cherryville Community Development Corporation

990 • Fiscal year 2024 • EIN 56-1470584

Oct 01, 2023 to Sep 30, 2024 • Filed on Nov 26, 2024

Organization ProfileN/A
2141 Fairways DriveCherryville, NC 28021

(704) 435-3716

Siviq Scores

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

Liabilities / Assets

60th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • NTEE S20 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

61st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • NTEE S20 • <$500k nonprofits • Source year 2024

Net Margin

94th percentile

96%

Higher net margin than 94% of similar nonprofits.

2024 filings • NTEE S20 • <$500k nonprofits • Source year 2024

Top Officer Pay

83rd percentile

$0

Higher top officer pay than 83% of similar nonprofits.

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

2024 filings • NTEE S20 • <$500k nonprofits • Source year 2024

Asset Growth

58th percentile

6.1%

Faster asset growth than 58% of similar nonprofits.

2024 filings • NTEE S20 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

90th percentile

167%

Faster revenue growth than 90% of similar nonprofits.

2024 filings • NTEE S20 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$267,797

Up $15,382 (+6.1%) from 2023

Net Assets

Up

$267,797

Up $15,382 (+6.1%) from 2023

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin94th percentile

Revenue

Up

$16,077

Up $10,051 (+167%) from 2023

Expenses

Up

$695

Up $45 (+6.9%) from 2023

Net Income

Up

$15,382

Up $10,006 (+186%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$300K$200K$100K$0Assets 2015: $285,103Liabilities 2015: $0Net Assets 2015: $285,1032015Assets 2016: $184,475Net Assets 2016: $184,4752016Assets 2017: $192,696Net Assets 2017: $192,6962017Assets 2018: $213,270Net Assets 2018: $213,2702018Assets 2019: $221,303Net Assets 2019: $221,3032019Assets 2020: $230,465Net Assets 2020: $230,4652020Assets 2021: $237,579Net Assets 2021: $237,5792021Assets 2022: $247,039Net Assets 2022: $247,0392022Assets 2023: $252,415Net Assets 2023: $252,4152023Assets 2024: $267,797Liabilities 2024: $0Net Assets 2024: $267,7972024Assets 2025: $288,216Net Assets 2025: $288,2162025

Highlighted filing

2024

Assets$267,797
Liabilities$0
Net Assets$267,797
Open 2024 Filing

Operations Trend

Revenue Growth90th percentile

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

$200K$100K$0-$100K-$200KRevenue 2015: $194,128Expenses 2015: $13,074Net Income 2015: $181,0542015Revenue 2016: -$88,477Expenses 2016: $12,151Net Income 2016: -$100,6282016Revenue 2017: $8,821Expenses 2017: $600Net Income 2017: $8,2212017Revenue 2018: $21,074Expenses 2018: $500Net Income 2018: $20,5742018Revenue 2019: $8,598Expenses 2019: $565Net Income 2019: $8,0332019Revenue 2020: $9,751Expenses 2020: $590Net Income 2020: $9,1612020Revenue 2021: $7,714Expenses 2021: $600Net Income 2021: $7,1142021Revenue 2022: $10,075Expenses 2022: $615Net Income 2022: $9,4602022Revenue 2023: $6,026Expenses 2023: $650Net Income 2023: $5,3762023Revenue 2024: $16,077Expenses 2024: $695Net Income 2024: $15,3822024Revenue 2025: $21,171Expenses 2025: $752Net Income 2025: $20,4192025

Highlighted filing

2024

Revenue$16,077
Expenses$695
Net Income$15,382
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Nov 26, 2024
Return Version
2023v5.0
Gross Receipts
$318,608
Mission and Program Overview

Mission

To aid, pursue and encourage economic development in the cherryville, nc area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$252,415$267,797▲ $15,382
Investments in Publicly Traded Securities$230,925$240,712▲ $9,787
Savings and Temporary Cash Investments$20,330$26,620▲ $6,290
Cash and Non-Interest-Bearing Accounts$1,160$465▼ $695
Total Assets$252,415$267,797▲ $15,382
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$252,415$267,797▲ $15,382
Total Liabilities and Net Assets / Fund Balance$252,415$267,797▲ $15,382
Compensation and Service Providers
Top Officer Pay83rd percentile

Board Members and Trustees

NameTitle
D M PayseurPresident
Reggie WalkerBoard Member
Richard RandallBoard Member
Susan LewisBoard Member
Ben BlackburnSecretary
Palmer E Huffstetler SrTreasurer
Terry StroupeVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$16,077
Other Revenue
$0
Change in Net Assets
$15,382
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$695
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting$695--$695
Total Functional Expenses$695$0$0$695
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
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, Page 6, Part VI, Line 11B

“The 990 is reviewed by the board before filing.”

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

“Members are periodically reminded of the policy through oral communications during board meetings.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available upon request to any officer or director.”

Filing and Contact Details

Filer

Filer Name
Cherryville Community Development
EIN
56-1470584
Phone
7044353716
Address
2141 FAIRWAYS DRIVE, CHERRYVILLE, NC 28021

Signing Officer

Name
Palmer E Huffstetler Sr
Title
Treasurer
Phone
7044353716
Signed
2024-11-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Palmer E Huffstetler Sr
Formed
1977
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Butler & Stowe
Address
PO BOX 2379, GASTONIA, NC 28053-2379
Preparer
Shauna Lindsay CPA
Phone
7048648311
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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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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$267,797
Liabilities
$0
Net assets
$267,797
Revenue
$16,077
Expenses
$695
Net income
$15,382
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.88$2.88$0.21$0.01$0.20
2024Detailed filing. Detailed filing data is available for this year.$2.68$0.00$2.68$0.16$0.01$0.15
2023Detailed filing. Detailed filing data is available for this year.$2.52$2.52$0.06$0.01$0.05
2022Detailed filing. Detailed filing data is available for this year.$2.47$2.47$0.10$0.01$0.09
2021Detailed filing. Detailed filing data is available for this year.$2.38$2.38$0.08$0.01$0.07
2020Detailed filing. Detailed filing data is available for this year.$2.30$2.30$0.10$0.01$0.09
2019Detailed filing. Detailed filing data is available for this year.$2.21$2.21$0.09$0.01$0.08
2018Detailed filing. Detailed filing data is available for this year.$2.13$2.13$0.21$0.01$0.21
2017Detailed filing. Detailed filing data is available for this year.$1.93$1.93$0.09$0.01$0.08
2016Detailed filing. Detailed filing data is available for this year.$1.84$1.84$0.88$0.12$1.01
2015Detailed filing. Detailed filing data is available for this year.$2.85$0.00$2.85$1.94$0.13$1.81