Civic Intelligence

Iredell County Economic Development Corporation

990 • Fiscal year 2014 • EIN 56-1555859

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 17, 2014

Organization ProfileWWW.GREATERSTATESVILLE.ORG
116 N Center Street28677

(704) 871-0062

Siviq Scores

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

Liabilities / Assets

47th percentile

0.00x

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

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

47th percentile

0.00x

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

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Net Margin

39th percentile

-0.7%

Higher net margin than 39% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Top Officer Pay

98th percentile

$116,167

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 36.3% of source-year revenue.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Asset Growth

39th percentile

-2.0%

Faster asset growth than 39% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

56th percentile

4.2%

Faster revenue growth than 56% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Annualized from 2012 to 2014

Balance Sheet
Liabilities / Assets47th percentile

Assets

Down

$105,986

Down $2,135 (-2.0%) from 2013

Net Assets

Down

$105,986

Down $2,135 (-2.0%) from 2013

Liabilities

Flat

$0

Flat from 2013

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin39th percentile

Revenue

$320,450

No earlier filing loaded for comparison.

Expenses

Up

$322,585

Up $15,003 (+4.9%) from 2013

Net Income

-$2,135

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$1.5M$1.0M$500K$0Assets 2012: $102,596Liabilities 2012: $0Net Assets 2012: $102,5962012Assets 2013: $108,121Liabilities 2013: $0Net Assets 2013: $108,1212013Assets 2014: $105,986Liabilities 2014: $0Net Assets 2014: $105,9862014Assets 2015: $109,375Liabilities 2015: $0Net Assets 2015: $109,3752015Assets 2016: $93,481Liabilities 2016: $0Net Assets 2016: $93,4812016Assets 2017: $64,692Liabilities 2017: $0Net Assets 2017: $64,6922017Assets 2018: $97,901Liabilities 2018: $0Net Assets 2018: $97,9012018Assets 2019: $387,563Liabilities 2019: $0Net Assets 2019: $387,5632019Assets 2020: $332,784Liabilities 2020: $0Net Assets 2020: $332,7842020Assets 2021: $391,225Liabilities 2021: $0Net Assets 2021: $391,2252021Assets 2022: $980,582Liabilities 2022: $427,541Net Assets 2022: $553,0412022Assets 2023: $1,029,927Liabilities 2023: $376,341Net Assets 2023: $653,5862023Assets 2024: $1,087,744Liabilities 2024: $320,557Net Assets 2024: $767,1872024Assets 2025: $1,172,319Liabilities 2025: $282,149Net Assets 2025: $890,1702025

Highlighted filing

2014

Assets$105,986
Liabilities$0
Net Assets$105,986
Open 2014 Filing

Operations Trend

Revenue Growth56th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2012: $295,148Expenses 2012: $300,148Net Income 2012: -$5,0002012Expenses 2013: $307,5822013Revenue 2014: $320,450Expenses 2014: $322,585Net Income 2014: -$2,1352014Revenue 2015: $341,255Expenses 2015: $337,866Net Income 2015: $3,3892015Revenue 2016: $349,426Expenses 2016: $365,320Net Income 2016: -$15,8942016Revenue 2017: $261,209Expenses 2017: $289,998Net Income 2017: -$28,7892017Revenue 2018: $266,850Expenses 2018: $233,641Net Income 2018: $33,2092018Revenue 2019: $610,690Expenses 2019: $449,644Net Income 2019: $161,0462019Revenue 2020: $749,716Expenses 2020: $805,980Net Income 2020: -$56,2642020Revenue 2021: $806,587Expenses 2021: $748,146Net Income 2021: $58,4412021Revenue 2022: $959,388Expenses 2022: $797,572Net Income 2022: $161,8162022Revenue 2023: $991,880Expenses 2023: $899,938Net Income 2023: $91,9422023Revenue 2024: $1,121,564Expenses 2024: $1,015,367Net Income 2024: $106,1972024Revenue 2025: $1,195,848Expenses 2025: $1,072,865Net Income 2025: $122,9832025

Highlighted filing

2014

Revenue$320,450
Expenses$322,585
Net Income-$2,135
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 17, 2014
Return Version
2013v3.1
Gross Receipts
$320,706
Mission and Program Overview

Mission

To stimulate and promote the industrial and commercial development of iredell county.

To stimulate and promote the industrial and commercial development of the city of statesville, the town of troutman, and the surrounding community in iredell county, north carolina

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$99,693$89,585▼ $10,108
Cash and Non-Interest-Bearing Accounts$2,204$10,875▲ $8,671
Land, Buildings, and Equipment, Net$4,429$3,731▼ $698
Total Assets$108,121$105,986▼ $2,135
Other Assets Total$1,795$1,795→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$108,121$105,986▼ $2,135
Total Net Assets Fund Balance$108,121$105,986▼ $2,135
Total Liabilities and Net Assets / Fund Balance$108,121$105,986▼ $2,135

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,731$7,259$10,990
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
C Michael Smith-FT$116,167$116,167

Board Members and Trustees

NameTitle
David BradleyChairman
Ann BailieVice Chairma
Bill ShumakerBoard Member
Brady JohnsonBoard Member
Costi KuttehBoard Member
Dr Steven BinderBoard Member
Dr Tim BrewerBoard Member
Elbert RichardsonBoard Member
Grant MillerBoard Member
John Gilbert IiiBoard Member
John KoppelmeyerBoard Member
John MarshallBoard Member
Justin RutledgeBoard Member
Karen AdamsBoard Member
Larry PressleyBoard Member
Paul CookBoard Member
Ron SmithBoard Member
Stamey Holland IiiBoard Member
Steve JohnsonBoard Member
Wayne WilkinsBoard Member
Randy WelchExecutive Di
Harry TsumasTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$320,410
Program Service Revenue
$0
Investment Income
$40
Other Revenue
$0
Change in Net Assets
$-2,135

Audited Revenue Reconciliation

Revenue per Audited Statements
$320,450
Total Revenue per Audited Statements
$320,450
Total Revenue per Form 990
$320,450
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$268,129
Other Expenses$54,456
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$212,135
Other Employee Benefits---$26,317
Occupancy---$24,735
Payroll Taxes---$16,949
Pension Plan Contributions---$12,728
Fees for Services Accounting---$3,200
Fees for Services Other---$2,138
Other Expenses---$2,076
All Other Expenses---$1,699
Depreciation Depletion---$1,264
Total Functional Expenses$0$0$0$322,585

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$322,585
Total Expenses per Audited Statements$322,585
Total Expenses per Form 990$322,585
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
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

“The chairman of the board of directors reviews the return. If there are any changes the treasurer is consulted and the accountant if deemed necessary.”

Form 990, Page 6, Part VI, Line 19

“When there is a request the review the federal filings a copy is made available.”

Filing and Contact Details

Filer

EIN
56-1555859
Phone
7048710062

Signing Officer

Name
C Michael Smith
Title
Executive Director
Phone
7048710062
Signed
2014-11-17

Organization Details

Principal Officer
C Michael Smith
Formed
1996
Legal Domicile
Nc
Voting Board Members
22
Independent Board Members
22
Employees
3

Preparer

Preparer
Elaine S Nicholson
Phone
7048711995
Raw XML Appendix397 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/LegalDomicileStateCd0NC
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0256
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO STIMULATE AND PROMOTE THE INDUSTRIAL AND COMMERCIAL DEVELOPMENT OF THE CITY OF STATESVILLE, THE TOWN OF TROUTMAN, AND THE SURROUNDING COMMUNITY IN IREDELL COUNTY, NORTH CAROLINA
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0108121
IRS990/NetAssetsOrFundBalancesEOYAmt0105986
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-256
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-256
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt024735
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01795
IRS990/OtherAssetsTotalGrp/EOYAmt01795
IRS990/OtherEmployeeBenefitsGrp/TotalAmt026317
IRS990/OtherExpensesGrp/Desc0AUTOMOBILE EXPENSE
IRS990/OtherExpensesGrp/Desc1TELEPHONE
IRS990/OtherExpensesGrp/Desc2OFFICE SUPPLIES
IRS990/OtherExpensesGrp/Desc3INSURANCE
IRS990/OtherExpensesGrp/TotalAmt011938
IRS990/OtherExpensesGrp/TotalAmt14993
IRS990/OtherExpensesGrp/TotalAmt22413
IRS990/OtherExpensesGrp/TotalAmt32076
IRS990/OtherSalariesAndWagesGrp/TotalAmt0212135
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt016949
IRS990/PensionPlanContributionsGrp/TotalAmt012728
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0C MICHAEL SMITH
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0312869
IRS990/PYInvestmentIncomeAmt0238
IRS990/PYOtherExpensesAmt049088
IRS990/PYRevenuesLessExpensesAmt05525
IRS990/PYSalariesCompEmpBnftPaidAmt0258494
IRS990/PYTotalExpensesAmt0307582
IRS990/PYTotalRevenueAmt0313107
IRS990/ReconcilationRevenueExpnssAmt0-2135
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt061302
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt099693
IRS990/SavingsAndTempCashInvstGrp/EOYAmt089585
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt03731
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07259
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt010990
IRS990ScheduleD/ExpensesSubtotalAmt0322585
IRS990ScheduleD/RevenueSubtotalAmt0320450
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03731
IRS990ScheduleD/TotalExpensesPerForm990Amt0322585
IRS990ScheduleD/TotalRevenuePerForm990Amt0320450
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0320450
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0322585
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CHAIRMAN OF THE BOARD OF DIRECTORS REVIEWS THE RETURN. IF THERE ARE ANY CHANGES THE TREASURER IS CONSULTED AND THE ACCOUNTANT IF DEEMED NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WHEN THERE IS A REQUEST THE REVIEW THE FEDERAL FILINGS A COPY IS MADE AVAILABLE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0108121
IRS990/TotalAssetsEOYAmt0105986
IRS990/TotalAssetsGrp/BOYAmt0108121
IRS990/TotalAssetsGrp/EOYAmt0105986
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0320410
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0322585
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0108121
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0105986
IRS990/TotalProgramServiceExpensesAmt0322585
IRS990/TotalReportableCompFromOrgAmt0116167
IRS990/TotalRevenueGrp/ExclusionAmt0296
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-256
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0320450
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0108121
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0105986
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0108121
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0105986
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10116 N CENTER STREET
IRS990/USAddress/City0STATESVILLE
IRS990/USAddress/State0NC
IRS990/USAddress/ZIPCode028677
IRS990/VotingMembersGoverningBodyCnt022
IRS990/VotingMembersIndependentCnt022
IRS990/WebsiteAddressTxt0WWW.GREATERSTATESVILLE.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0C MICHAEL SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07048710062
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-11-17
ReturnHeader/Filer/BusinessName/BusinessNameLine10GREATER STATESVILLE DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine20CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0GREA
ReturnHeader/Filer/EIN0561555859
ReturnHeader/Filer/PhoneNum07048710062
ReturnHeader/Filer/USAddress/AddressLine10116 N CENTER STREET
ReturnHeader/Filer/USAddress/City0STATESVILLE
ReturnHeader/Filer/USAddress/State0NC
ReturnHeader/Filer/USAddress/ZIPCode028677
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561928422
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10NORRIS STEWART & RALSTON PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10PO DRAWER 1068
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0STATESVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode028687
ReturnHeader/PreparerPersonGrp/PhoneNum07048711995
ReturnHeader/PreparerPersonGrp/PreparationDt02014-12-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ELAINE S NICHOLSON
ReturnHeader/ReturnTs02014-12-01T08:37:39-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$105,986
Liabilities
$0
Net assets
$105,986
Revenue
$320,450
Expenses
$322,585
Net income
-$2,135
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.17$0.28$0.89$1.20$1.07$0.12
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.09$0.32$0.77$1.12$1.02$0.11
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.03$0.38$0.65$0.99$0.90$0.09
2022Detailed filing. Detailed filing data is available for this year.$0.98$0.43$0.55$0.96$0.80$0.16
2021Detailed filing. Detailed filing data is available for this year.$0.39$0.00$0.39$0.81$0.75$0.06
2020Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$0.75$0.81$0.06
2019Summary only. Only limited summary data is available for this year.$0.39$0.00$0.39$0.61$0.45$0.16
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.10$0.00$0.10$0.27$0.23$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.06$0.00$0.06$0.26$0.29$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$0.35$0.37$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$0.34$0.34$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$0.32$0.32$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.11$0.00$0.11$0.31
2012Summary only. Only limited summary data is available for this year.$0.10$0.00$0.10$0.30$0.30$0.01
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)6 • <$500k nonprofits