Civic Intelligence

Davidson County Economic Development Commission

990 • Fiscal year 2017 • EIN 56-1556790

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 23, 2018

Organization ProfileNA
PO Box 2013Lexington, NC 27293

(336) 243-1900

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

13th percentile

0.00x

Higher debt load relative to revenue than 13% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Net Margin

1st percentile

-94%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

5th percentile

-21%

Faster asset growth than 5% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

29th percentile

-1.9%

Faster revenue growth than 29% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets11th percentile

Assets

Down

$1,360,104

Down $353,934 (-21%) from 2016

Net Assets

Down

$1,359,029

Down $355,009 (-21%) from 2016

Liabilities

Up

$1,075

Up $1,075 from 2016

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin1st percentile

Revenue

Down

$376,032

Down $7,214 (-1.9%) from 2016

Expenses

Up

$731,042

Up $364,526 (+99%) from 2016

Net Income

Down

-$355,010

Down $371,740 (-2222%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $515,334Liabilities 2010: $403Net Assets 2010: $514,9312010Assets 2012: $654,644Liabilities 2012: $0Net Assets 2012: $654,6442012Assets 2013: $2,728,375Liabilities 2013: $15Net Assets 2013: $2,728,3602013Assets 2014: $2,606,258Liabilities 2014: $0Net Assets 2014: $2,606,2582014Assets 2015: $1,697,712Liabilities 2015: $404Net Assets 2015: $1,697,3082015Assets 2016: $1,714,038Liabilities 2016: $0Net Assets 2016: $1,714,0382016Assets 2017: $1,360,104Liabilities 2017: $1,075Net Assets 2017: $1,359,0292017Assets 2018: $1,446,740Liabilities 2018: $0Net Assets 2018: $1,446,7402018Assets 2019: $1,403,762Liabilities 2019: $100,000Net Assets 2019: $1,303,7622019Assets 2020: $1,343,501Liabilities 2020: $50,000Net Assets 2020: $1,293,5012020Assets 2021: $855,837Liabilities 2021: $0Net Assets 2021: $855,8372021Assets 2022: $820,272Liabilities 2022: $0Net Assets 2022: $820,2722022Assets 2023: $798,792Liabilities 2023: $0Net Assets 2023: $798,7922023Assets 2024: $603,900Liabilities 2024: $0Net Assets 2024: $603,9002024Assets 2025: $591,471Liabilities 2025: $0Net Assets 2025: $591,4712025

Highlighted filing

2017

Assets$1,360,104
Liabilities$1,075
Net Assets$1,359,029
Open 2017 Filing

Operations Trend

Revenue Growth29th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $391,255Expenses 2010: $340,295Net Income 2010: $50,9602010Revenue 2012: $418,663Expenses 2012: $438,081Net Income 2012: -$19,4182012Revenue 2013: $2,395,716Expenses 2013: $390,024Net Income 2013: $2,005,6922013Revenue 2014: $376,196Expenses 2014: $430,273Net Income 2014: -$54,0772014Revenue 2015: $425,400Expenses 2015: $1,334,350Net Income 2015: -$908,9502015Revenue 2016: $383,246Expenses 2016: $366,516Net Income 2016: $16,7302016Revenue 2017: $376,032Expenses 2017: $731,042Net Income 2017: -$355,0102017Revenue 2018: $484,042Expenses 2018: $396,331Net Income 2018: $87,7112018Revenue 2019: $390,462Expenses 2019: $533,440Net Income 2019: -$142,9782019Revenue 2020: $375,432Expenses 2020: $385,693Net Income 2020: -$10,2612020Revenue 2021: $430,827Expenses 2021: $347,554Net Income 2021: $83,2732021Revenue 2022: $374,386Expenses 2022: $409,951Net Income 2022: -$35,5652022Revenue 2023: $386,453Expenses 2023: $407,933Net Income 2023: -$21,4802023Revenue 2024: $20,841Expenses 2024: $222,691Net Income 2024: -$201,8502024Revenue 2025: $44,915Expenses 2025: $57,344Net Income 2025: -$12,4292025

Highlighted filing

2017

Revenue$376,032
Expenses$731,042
Net Income-$355,010
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 23, 2018
Return Version
2016v3.0
Gross Receipts
$376,032
Mission and Program Overview

Mission

To promote industry in davidson county, nc

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,640,860$1,358,222▼ $282,638
Land, Buildings, and Equipment, Net$73,178$1,882▼ $71,296
Total Assets$1,714,038$1,360,104▼ $353,934
Liabilities
Accounts Payable and Accrued Expenses-$1,075-
Total Liabilities$0$1,075▲ $1,075
Net Assets / Fund Balance
Unrestricted Net Assets$1,042,712$687,290▼ $355,422
Temporarily Rstr Net Assets$671,326$671,739▲ $413
Total Net Assets Fund Balance$1,714,038$1,359,029▼ $355,009
Total Liabilities and Net Assets / Fund Balance$1,714,038$1,360,104▼ $353,934

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,882$71,656$73,538
Leasehold Improvements-$1,475$1,475
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steve GoogePresidentceoFT$155,000$12,400$167,400

Board Members and Trustees

NameTitle
Tommy HedrickChairman
Steve JacksonVice Chair
Ed JordanBoard
John ByrumBoard
John HorneBoard
Larry PottsBoard
Larry WardBoard
Mark SwaimBoard
Newell ClarkBoard
Raleigh YorkBoard
Steve JarvisBoard
Wayne WilkinsBoard
Wayne HerrickSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$375,000
Program Service Revenue
$0
Investment Income
$1,032
Other Revenue
$0
All Other Contributions
$17,000
Change in Net Assets
$-355,010

Audited Revenue Reconciliation

Revenue per Audited Statements
$376,032
Total Revenue per Audited Statements
$376,032
Total Revenue per Form 990
$376,032
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$371,799
Salaries, Compensation, and Employee Benefits$359,243
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$359,243--$359,243
All Other Expenses$45,359--$45,359
Travel$33,885--$33,885
Other Expenses$15,000--$15,000
Conferences and Meetings$5,779--$5,779
Office Expenses$3,653--$3,653
Insurance$3,537--$3,537
Depreciation Depletion$1,394--$1,394
Total Functional Expenses$731,042$0$0$731,042

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$731,042
Total Expenses per Audited Statements$731,042
Total Expenses per Form 990$731,042
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
Audit committee
No
Backup withholding compliance
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
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 governing body review Part VI line 11

“Reviewed by board at monthly meeting”

Conflict of interest policy compliance Part VI line 12C

“No policy - the conflict of interest policy will be established in the november 2017 board meeting. Board will be required to sign annually.”

CEO executive director top management comp Part VI line 15A

“Included in individual board of director meeting book and reviewed at annual meeting”

Governing documents etc available to public Part VI line 19

“Available at business office during business hours”

Filing and Contact Details

Filer

Filer Name
Davidson Co Economic Dev Commission
EIN
56-1556790
Address
PO BOX 2013, LEXINGTON, NC 27293

Signing Officer

Name
Craig Goodson
Title
President CEO
Phone
3362431900
Signed
2018-04-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tommy Hedrick
Formed
1986
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
13
Employees
3

Preparer

Firm
Eddie Carrick CPA PC
Address
151 Young Drive, Lexington, NC 27292
Preparer
Eddie Carrick CPA
Phone
3362492545
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“ROUNDING”

Raw XML Appendix392 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/ReconcilationRevenueExpnssAmt0-355010
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0376032
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt01882
IRS990ScheduleD/EquipmentGrp/DepreciationAmt071656
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt073538
IRS990ScheduleD/ExpensesSubtotalAmt0731042
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01475
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01475
IRS990ScheduleD/RevenueSubtotalAmt0376032
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01882
IRS990ScheduleD/TotalExpensesPerForm990Amt0731042
IRS990ScheduleD/TotalRevenuePerForm990Amt0376032
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0376032
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0731042
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0155000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt012400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STEVE GOOGE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENTCEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0167400
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEWED BY BOARD AT MONTHLY MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO POLICY - THE CONFLICT OF INTEREST POLICY WILL BE ESTABLISHED IN THE NOVEMBER 2017 BOARD MEETING. BOARD WILL BE REQUIRED TO SIGN ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INCLUDED IN INDIVIDUAL BOARD OF DIRECTOR MEETING BOOK AND REVIEWED AT ANNUAL MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE AT BUSINESS OFFICE DURING BUSINESS HOURS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ROUNDING
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Explanation of other changes in net assets or fund balances Part XI line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0671326
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0671739
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01714038
IRS990/TotalAssetsEOYAmt01360104
IRS990/TotalAssetsGrp/BOYAmt01714038
IRS990/TotalAssetsGrp/EOYAmt01360104
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0375000
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0731042
IRS990/TotalFunctionalExpensesGrp/TotalAmt0731042
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt01075
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt01075
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01714038
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01359029
IRS990/TotalOtherCompensationAmt012400
IRS990/TotalProgramServiceExpensesAmt0731042
IRS990/TotalReportableCompFromOrgAmt0155000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01032
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0376032
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01714038
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01360104
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt033885
IRS990/TravelGrp/TotalAmt033885
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01042712
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0687290
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 188
IRS990/USAddress/CityNm0SOUTHMONT
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027351
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0NA
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CRAIG GOODSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03362431900
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DAVIDSON CO ECONOMIC DEV COMMISSION
ReturnHeader/Filer/BusinessNameControlTxt0DAVI
ReturnHeader/Filer/EIN0561556790
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 2013
ReturnHeader/Filer/USAddress/CityNm0LEXINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027293
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId05B5DC513DD4F473247356D71D8FD2D4AC137348E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId05B5DC513DD4F473247356D71D8FD2D4AC137348E
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId06948782018113lttetpl
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02018-04-23
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt070.61.124.138
ReturnHeader/FilingSecurityInformation/IPDt02018-04-23
ReturnHeader/FilingSecurityInformation/IPTm013:43:30
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0451563674
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Eddie Carrick CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0151 Young Drive
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Lexington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027292
ReturnHeader/PreparerPersonGrp/PhoneNum03362492545
ReturnHeader/PreparerPersonGrp/PreparationDt02018-04-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Eddie Carrick CPA
ReturnHeader/ReturnTs02018-04-23T13:38:21-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,360,104
Liabilities
$1,075
Net assets
$1,359,029
Revenue
$376,032
Expenses
$731,042
Net income
-$355,010
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.59$0.00$0.59$0.04$0.06$0.01
2024Detailed filing. Detailed filing data is available for this year.$0.60$0.00$0.60$0.02$0.22$0.20
2023Detailed filing. Detailed filing data is available for this year.$0.80$0.00$0.80$0.39$0.41$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.82$0.37$0.41$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.86$0.00$0.86$0.43$0.35$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.34$0.05$1.29$0.38$0.39$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.40$0.10$1.30$0.39$0.53$0.14
2018Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.48$0.40$0.09
2017Detailed filing. Detailed filing data is available for this year.$1.36$0.00$1.36$0.38$0.73$0.36
2016Detailed filing. Detailed filing data is available for this year.$1.71$0.00$1.71$0.38$0.37$0.02
2015Summary only. Only limited summary data is available for this year.$1.70$0.00$1.70$0.43$1.33$0.91
2014Summary only. Only limited summary data is available for this year.$2.61$0.00$2.61$0.38$0.43$0.05
2013Summary only. Only limited summary data is available for this year.$2.73$0.00$2.73$2.40$0.39$2.01
2012Summary only. Only limited summary data is available for this year.$0.65$0.00$0.65$0.42$0.44$0.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.00$0.51$0.39$0.34$0.05