Civic Intelligence

Davidson County Economic Development Commission

990 • Fiscal year 2023 • EIN 56-1556790

Jul 01, 2022 to Jun 30, 2023 • Filed on Jun 09, 2024

Organization ProfileNA
913 Greensboro StreetLexington, NC 27292

(336) 240-7281

Siviq Scores

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

Liabilities / Assets

24th percentile

0.00x

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

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

24th percentile

0.00x

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

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Net Margin

26th percentile

-5.6%

Higher net margin than 26% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

91st percentile

$173,100

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 44.8% of source-year revenue.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Asset Growth

31st percentile

-2.6%

Faster asset growth than 31% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

39th percentile

3.2%

Faster revenue growth than 39% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets24th percentile

Assets

Down

$798,792

Down $21,480 (-2.6%) from 2022

Net Assets

Down

$798,792

Down $21,480 (-2.6%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin26th percentile

Revenue

Up

$386,453

Up $12,067 (+3.2%) from 2022

Expenses

Down

$407,933

Down $2,018 (-0.5%) from 2022

Net Income

Up

-$21,480

Up $14,085 (+40%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth31st 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

2023

Assets$798,792
Liabilities$0
Net Assets$798,792
Open 2023 Filing

Operations Trend

Revenue Growth39th 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

2023

Revenue$386,453
Expenses$407,933
Net Income-$21,480
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jun 9, 2024
Return Version
2022v5.0
Gross Receipts
$386,453
Mission and Program Overview

Mission

To promote industry in davidson county, nc

To promote industry in davidson county

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$819,067$798,792▼ $20,275
Land, Buildings, and Equipment, Net$1,205--
Total Assets$820,272$798,792▼ $21,480
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$820,272$798,792▼ $21,480
Total Net Assets Fund Balance$820,272$798,792▼ $21,480
Total Liabilities and Net Assets / Fund Balance$820,272$798,792▼ $21,480

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$-7,349$7,349-
Equipment$-10,691$10,691-
Leasehold Improvements$-1,475$1,475-
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleBaseTotal
Craig GoodsonFormer Presi$173,100$173,100
Craig GoodsonFormer President/CEO$173,100$173,100

Board Members and Trustees

NameTitle
Mark SwaimChairman
Jason HayesDirector
John ByrumDirector
Larry PottsDirector
Larry WardDirector
Raleigh YorkDirector
Todd YatesDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$382,750
Program Service Revenue
$0
Investment Income
$3,703
Other Revenue
$0
All Other Contributions
$7,500
Change in Net Assets
$-21,480
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$262,169
Other Expenses$145,764
Total Fundraising Expense$26,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$173,100--$173,100
Other Salaries and Wages$60,625--$60,625
Insurance-$35,418-$35,418
Travel$18,140--$18,140
Payroll Taxes$16,879--$16,879
Advertising$15,725--$15,725
Occupancy-$12,330-$12,330
Pension Plan Contributions$11,565--$11,565
Conferences and Meetings$6,600--$6,600
Fees for Services Other$5,500--$5,500
Fees for Services Accounting$5,500--$5,500
Information Technology$2,989--$2,989
Office Expenses$2,810--$2,810
Other Expenses$2,067-$26,000$2,067
Depreciation Depletion$1,205--$1,205
All Other Expenses$1,008--$1,008
Total Functional Expenses$334,185$47,748$26,000$407,933
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
Backup withholding compliance
No
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
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 15A

“BOARD APPROVED”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Davidson County Economic
EIN
56-1556790
Phone
3362407281
Address
913 GREENSBORO STREET, LEXINGTON, NC 27292

Signing Officer

Name
Mark Swaim
Title
Chairman
Phone
3362407281
Signed
2024-06-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Swaim
Formed
1986
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
2

Preparer

Firm
Myers & Myers Pllc
Address
PO BOX 1205, LEXINGTON, NC 27293
Preparer
Tedman Myers CPA
Phone
3362485205
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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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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/Filer/BusinessNameControlTxt0DAVI
ReturnHeader/Filer/EIN0561556790
ReturnHeader/Filer/PhoneNum03362407281
ReturnHeader/Filer/USAddress/AddressLine1Txt0913 GREENSBORO STREET
ReturnHeader/Filer/USAddress/CityNm0LEXINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027292
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0562229168
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MYERS & MYERS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1205
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LEXINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027293
ReturnHeader/PreparerPersonGrp/PhoneNum03362485205
ReturnHeader/PreparerPersonGrp/PreparationDt02024-06-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TEDMAN MYERS CPA
ReturnHeader/ReturnTs02024-06-09T14:28:32-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MARK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SWAIM
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$798,792
Liabilities
$0
Net assets
$798,792
Revenue
$386,453
Expenses
$407,933
Net income
-$21,480
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