Civic Intelligence

Davidson County Economic Development Commission

990 • Fiscal year 2024 • EIN 56-1556790

Jul 01, 2023 to Jun 30, 2024 • Filed on Dec 06, 2024

Organization ProfileN/A
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

25th percentile

0.00x

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

2024 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

25th percentile

0.00x

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

2024 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2024

Net Margin

1st percentile

-969%

Higher net margin than 1% of similar nonprofits.

2024 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2024 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2024

Asset Growth

8th percentile

-24%

Faster asset growth than 8% of similar nonprofits.

2024 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

1st percentile

-95%

Faster revenue growth than 1% of similar nonprofits.

2024 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets25th percentile

Assets

Down

$603,900

Down $194,892 (-24%) from 2023

Net Assets

Down

$603,900

Down $194,892 (-24%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin1st percentile

Revenue

Down

$20,841

Down $365,612 (-95%) from 2023

Expenses

Down

$222,691

Down $185,242 (-45%) from 2023

Net Income

Down

-$201,850

Down $180,370 (-840%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth8th 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

2024

Assets$603,900
Liabilities$0
Net Assets$603,900
Open 2024 Filing

Operations Trend

Revenue Growth1st 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

2024

Revenue$20,841
Expenses$222,691
Net Income-$201,850
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Dec 6, 2024
Return Version
2023v6.0
Gross Receipts
$20,841
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$798,792$603,900▼ $194,892
Total Assets$798,792$603,900▼ $194,892
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$798,792$603,900▼ $194,892
Total Net Assets Fund Balance$798,792$603,900▼ $194,892
Total Liabilities and Net Assets / Fund Balance$798,792$603,900▼ $194,892
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Todd YatesPresident &
Jason HayesVice Chairma
Allen ToddDirector
Fred McclureDirector
Hunter ThriftDirector
Jackie EdwardsDirector
John BurkeDirector
John ByrumDirector
Larry PottsDirector
Larry WardDirector
Raleigh YorkDirector
Scott MorrisDirector
Casey SmithFacilitator
Revenue and Support

Revenue Composition

Contributions and Grants
$10,000
Program Service Revenue
$0
Investment Income
$10,841
Other Revenue
$0
All Other Contributions
$10,000
Change in Net Assets
$-201,850
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$154,867
Other Expenses$42,824
Grants and Similar Amounts Paid$25,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$142,071--$142,071
Grants to Domestic Orgs$25,000--$25,000
Fees for Services Legal$12,440--$12,440
Payroll Taxes$10,868--$10,868
Fees for Services Other$10,505--$10,505
Insurance$3,871$1,958-$5,829
Travel$2,726--$2,726
Office Expenses$2,537--$2,537
Pension Plan Contributions$1,928--$1,928
Information Technology$1,853--$1,853
Conferences and Meetings$1,476--$1,476
Advertising$1,050--$1,050
Occupancy-$1,030-$1,030
Fees for Services Accounting$1,000--$1,000
Other Expenses$430--$430
Total Functional Expenses$219,703$2,988$0$222,691
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Davidson Davie Apprenticeship ConsoMocksville, NC501c3Education$25,000
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

“Board presented with tax return and voted on with full board approval”

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

“BOARD APPROVED”

Form 990, Page 6, Part VI, Line 19

“Documents avbailable upon request”

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
Todd Yates
Title
President & Chairman
Phone
3362407281
Signed
2024-12-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Todd Yates
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
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Prior year bank reconciliation 6,958”

Raw XML Appendix329 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/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD PRESENTED WITH TAX RETURN AND VOTED ON WITH FULL BOARD APPROVAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD APPROVED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS AVBAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PRIOR YEAR BANK RECONCILIATION 6,958
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0222691
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0603900
IRS990/TravelGrp/ProgramServicesAmt02726
IRS990/TravelGrp/TotalAmt02726
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IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0N/A
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ReturnHeader/BusinessOfficerGrp/PersonNm0TODD YATES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT & CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum03362407281
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-12-06
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ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TEDMAN MYERS CPA
ReturnHeader/ReturnTs02025-05-16T11:00:19-04:00
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ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$603,900
Liabilities
$0
Net assets
$603,900
Revenue
$20,841
Expenses
$222,691
Net income
-$201,850
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