Civic Intelligence

Burlington Development Corporation

EIN 56-1878125 • 501(c)3 • Burlington, NC

Profile

Provide scholarships to continue education to low and very-low income persons and remove barriers for low and very-low income person to locate affordable housing and to have a safe place to live.

133 N Ireland StreetBurlington, NC 27217

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

34th percentile

0.29x

Higher debt load relative to assets than 34% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

46th percentile

1.80x

Higher debt load relative to revenue than 46% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Source year 2024

Net Margin

69th percentile

27%

Higher net margin than 69% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

NTEE L • $10M-$25M nonprofits • Source year 2024

Asset Growth

93rd percentile

47%

Faster asset growth than 93% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

100th percentile

2016%

Faster revenue growth than 100% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$20,255,187

Up $18,188,200 (+880%) from 2022

Liabilities

Up

$5,780,559

Up $5,775,496 (+114073%) from 2022

Net Assets

Up

$14,474,628

Up $12,412,704 (+602%) from 2022

Operations
Liabilities / Revenue46th percentileNet Margin69th percentile

Revenue

Up

$3,209,999

Up $3,066,586 (+2138%) from 2022

Expenses

Up

$2,338,581

Up $2,230,679 (+2067%) from 2022

Net Income

Up

$871,418

Up $835,907 (+2354%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth93rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2010: $1,952,988Liabilities 2010: $281,998Net Assets 2010: $1,670,9902010Assets 2011: $1,761,321Liabilities 2011: $54,948Net Assets 2011: $1,706,3732011Assets 2012: $1,680,805Liabilities 2012: $1,317Net Assets 2012: $1,679,4882012Assets 2013: $1,658,601Liabilities 2013: $1,972Net Assets 2013: $1,656,6292013Assets 2014: $1,647,905Liabilities 2014: $3,242Net Assets 2014: $1,644,6632014Assets 2015: $1,676,767Liabilities 2015: $7,244Net Assets 2015: $1,669,5232015Assets 2016: $1,743,644Liabilities 2016: $8,449Net Assets 2016: $1,735,1952016Assets 2017: $1,706,789Liabilities 2017: $15,455Net Assets 2017: $1,691,3342017Assets 2018: $1,700,928Liabilities 2018: $6,199Net Assets 2018: $1,694,7292018Assets 2019: $1,657,822Liabilities 2019: $31,072Net Assets 2019: $1,626,7502019Assets 2020: $1,659,028Liabilities 2020: $2,824Net Assets 2020: $1,656,2042020Assets 2021: $2,030,756Liabilities 2021: $4,343Net Assets 2021: $2,026,4132021Assets 2022: $2,066,987Liabilities 2022: $5,063Net Assets 2022: $2,061,9242022Assets 2024: $20,255,187Liabilities 2024: $5,780,559Net Assets 2024: $14,474,6282024

Highlighted filing

2024

Assets$20,255,187
Liabilities$5,780,559
Net Assets$14,474,628
Open 2024 Filing

Operations Trend

Revenue Growth100th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $320,3772010Expenses 2011: $71,6432011Expenses 2012: $54,1382012Expenses 2013: $49,9242013Revenue 2014: $26,572Expenses 2014: $48,392Net Income 2014: -$21,8202014Revenue 2015: $325,528Expenses 2015: $300,668Net Income 2015: $24,8602015Revenue 2016: $365,922Expenses 2016: $300,250Net Income 2016: $65,6722016Revenue 2017: $112,579Expenses 2017: $156,440Net Income 2017: -$43,8612017Revenue 2018: $132,734Expenses 2018: $129,339Net Income 2018: $3,3952018Revenue 2019: $153,013Expenses 2019: $220,992Net Income 2019: -$67,9792019Revenue 2020: $198,042Expenses 2020: $168,588Net Income 2020: $29,4542020Revenue 2021: $472,843Expenses 2021: $102,634Net Income 2021: $370,2092021Revenue 2022: $143,413Expenses 2022: $107,902Net Income 2022: $35,5112022Revenue 2024: $3,209,999Expenses 2024: $2,338,581Net Income 2024: $871,4182024

Highlighted filing

2024

Revenue$3,209,999
Expenses$2,338,581
Net Income$871,418
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$20,255,187
Liabilities
$5,780,559
Net assets
$14,474,628
Revenue
$3,209,999
Expenses
$2,338,581
Net income
$871,418
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.3$5.78$14.5$3.21$2.34$0.87
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.07$0.01$2.06$0.14$0.11$0.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.03$0.00$2.03$0.47$0.10$0.37
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.66$0.00$1.66$0.20$0.17$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.66$0.03$1.63$0.15$0.22$0.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.70$0.01$1.69$0.13$0.13$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.71$0.02$1.69$0.11$0.16$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.74$0.01$1.74$0.37$0.30$0.07
2015Detailed filing. Detailed filing data is available for this year.$1.68$0.01$1.67$0.33$0.30$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.65$0.00$1.64$0.03$0.05$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.66$0.00$1.66$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$0.00$1.68$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.76$0.05$1.71$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.95$0.28$1.67$0.32
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
May 29, 2025
Return Version
2023v6.0
Gross Receipts
$3,209,999
Mission and Program Overview

Mission

BDC's goals and objectives are to engage in or assist in development, financing and/or the operation of housing for low-income people and families and to provide supportive services necessary for the residents to become academically successful and economically self-sufficient. BDC strives to change the public housing culture, values and behavior through positive incentives doe resident self-sufficiency, providing programs and services that empower residents and collaboration and partnerships throughout the community to meet that end.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,785,310$15,544,311▲ $8,759,001
Cash and Non-Interest-Bearing Accounts$1,216,787$2,444,702▲ $1,227,915
Savings and Temporary Cash Investments$829,010$863,876▲ $34,866
Prepaid Expenses and Deferred Charges-$100,866-
Inventories for Sale or Use-$37,893-
Accounts Receivable$32,152$35,266▲ $3,114
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$13,823,097$20,255,187▲ $6,432,090
Other Assets Total$4,959,838$1,228,273▼ $3,731,565
Liabilities
Mortgage Notes Payable Secured by Investment Property$50,000$4,219,683▲ $4,169,683
Accounts Payable and Accrued Expenses$42,270$1,560,876▲ $1,518,606
Total Liabilities$92,270$5,780,559▲ $5,688,289
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,730,827$14,474,628▲ $743,801
Total Net Assets Fund Balance$13,730,827$14,474,628▲ $743,801
Total Liabilities and Net Assets / Fund Balance$13,823,097$20,255,187▲ $6,432,090

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$11,084,966$225,027$11,309,993
Buildings$3,183,970-$3,183,970
Land$692,111-$692,111
Leasehold Improvements$381,136-$381,136
Equipment$202,128-$202,128
Other Assets Org$1,228,273--
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Veronica RevelsPresident
Melinda FreemanVice President
Charles CarterTrustee
Michael GravesTrustee
Millicent CashTrustee
Patrick MillsTrustee
Reggie WilsonTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$2,302,441
Program Service Revenue
$818,923
Investment Income
$88,635
Other Revenue
$0
All Other Contributions
$54,323
Change in Net Assets
$871,418
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,338,581
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
Other Expenses$2,083,045$255,536-$255,536
Total Functional Expenses$2,083,045$255,536$0$2,338,581
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
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
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, Part VI, Section B, Line 11B

“The organization's CPA prepares the Form 990 and all attachments from the books and records maintained by the organization. The completed Form 990 is then provided to the management of the organization for review and the Form 8879-EO is executed. This independent preparation and review is considered adequate review of the Form 990 since it is done by a third party tax professional.”

Form 990, Part VI, Section C, Line 19

“All documents are available for review at the office located at 133 N Ireland Street Burlington, NC. Any document(s) required by Federal or North Carolina law and/or regulations to be available for public inspection is available upon request.”

Filing and Contact Details

Filer

Filer Name
Burlington Development Corporation
EIN
56-1878125
Phone
3362268421
Address
133 N Ireland Street, Burlington, NC 27217

Signing Officer

Name
Veronica Revels
Title
Executive Director
Signed
2025-05-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Veronica Revels
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Barfield and Kinkead LLC
Address
3973 Atlanta Highway Suite 800, Loganville, GA 30052
Preparer
James E Kinkead CPA
Phone
7704667070
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Distributions to affiliates = -$127617”

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.

Path#Value
IRS990/AccountantCompileOrReviewInd0true
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt042270
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt01560876
IRS990/AccountsReceivableGrp/BOYAmt032152
IRS990/AccountsReceivableGrp/EOYAmt035266
IRS990/AcctCompileOrReviewBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0BDC's goals and objectives are to engage in or assist in development, financing and/or the operation of housing for low-income people and families and to provide supportive services necessary for the residents to become academically successful and economically self-sufficient. BDC strives to change the public housing culture, values and behavior through positive incentives doe resident self-sufficiency, providing programs and services that empower residents and collaboration and partnerships throughout the community to meet that end.
IRS990/AdvertisingGrp/TotalAmt00
IRS990/AllOtherContributionsAmt054323
IRS990/AllOtherExpensesGrp/TotalAmt00
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0false
IRS990/BenefitsToMembersGrp/TotalAmt00
IRS990/BooksInCareOfDetail/PersonNm0Veronica Revels
IRS990/BooksInCareOfDetail/PhoneNum03362268421
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0133 N Ireland St
IRS990/BooksInCareOfDetail/USAddress/CityNm0Burlington
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NC
IRS990/BooksInCareOfDetail/USAddress/ZIPCd027217
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt01216787
IRS990/CashNonInterestBearingGrp/EOYAmt02444702
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt00
IRS990/CompDisqualPersonsGrp/TotalAmt00
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0false
IRS990/CompensationProcessOtherInd0false
IRS990/ConferencesMeetingsGrp/TotalAmt00
IRS990/ConflictOfInterestPolicyInd0false
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt02302441
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt088635
IRS990/CYOtherExpensesAmt02338581
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0818923
IRS990/CYRevenuesLessExpensesAmt0871418
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt02338581
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt03209999
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt00
IRS990/Desc0Provide scholarships and other programs and learning experiences to continue education for low and very-low income persons. Provide opportunities for low and very-low income families to move from assisted housing. In addition, the Burlington Housing Authority converted using HUD's RAD program at the end of this fiscal year.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0false
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt02083045
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/TotalAmt00
IRS990/FeesForServicesLegalGrp/TotalAmt00
IRS990/FeesForServicesLobbyingGrp/TotalAmt00
IRS990/FeesForServicesManagementGrp/TotalAmt00
IRS990/FeesForServicesOtherGrp/TotalAmt00
IRS990/FeesForServicesProfFundraising/TotalAmt00
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt00
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignGrantsGrp/TotalAmt00
IRS990/ForeignOfficeInd0false
IRS990/Form1098CFiledInd0false
IRS990/Form8282FiledCnt00
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form8899Filedind0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt00.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt20.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt30.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt50.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt60.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt10.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60.50
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/PersonNm0Veronica Revels
IRS990/Form990PartVIISectionAGrp/PersonNm1Charles Carter
IRS990/Form990PartVIISectionAGrp/PersonNm2Millicent Cash
IRS990/Form990PartVIISectionAGrp/PersonNm3Reggie Wilson
IRS990/Form990PartVIISectionAGrp/PersonNm4Michael Graves
IRS990/Form990PartVIISectionAGrp/PersonNm5Melinda Freeman
IRS990/Form990PartVIISectionAGrp/PersonNm6Patrick Mills
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/OtherAmt025400
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GovernmentGrantsAmt02248118
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/OtherAmt025400
IRS990/GrossReceiptsAmt03209999
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/TotalAmt00
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt037893
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt063235
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt063235
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0225027
IRS990/LandBldgEquipBasisNetGrp/BOYAmt06785310
IRS990/LandBldgEquipBasisNetGrp/EOYAmt015544311
IRS990/LandBldgEquipCostOrOtherBssAmt015769338
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0BDC's goals and objectives are to engage in or assist in development, financing and/or the operation of housing for low-income people and families and to provide supportive services necessary for the residents to become academically successful and economically self-sufficient. BDC strives to change the public housing culture, values and behavior through positive incentives doe resident self-sufficiency, providing programs and services that empower residents and collaboration and partnerships throughout the community to meet that end.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt050000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt04219683
IRS990/NetAssetsOrFundBalancesBOYAmt013730827
IRS990/NetAssetsOrFundBalancesEOYAmt014474628
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt025400
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt025400
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt013730827
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt014474628
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt04959838
IRS990/OtherAssetsTotalGrp/EOYAmt01228273
IRS990/OtherChangesInNetAssetsAmt0-127617
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Total Program Services
IRS990/OtherExpensesGrp/Desc1Total Management and General
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0255536
IRS990/OtherExpensesGrp/ProgramServicesAmt02083045
IRS990/OtherExpensesGrp/TotalAmt02083045
IRS990/OtherExpensesGrp/TotalAmt1255536
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0100866
IRS990/PrincipalOfficerNm0Veronica Revels
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Other income
IRS990/ProgramServiceRevenueGrp/Desc1Rents from residents
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt019150
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1799773
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt019150
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1799773
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0128450
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt023282
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0114538
IRS990/PYRevenuesLessExpensesAmt0-35918
IRS990/PYSalariesCompEmpBnftPaidAmt073112
IRS990/PYTotalExpensesAmt0187650
IRS990/PYTotalRevenueAmt0151732
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0871418
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0829010
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0863876
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02302441
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0128450
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0135607
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0464779
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0182471
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03213748
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt063235
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt023282
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt07806
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt08064
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt015571
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0117958
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96460
IRS990ScheduleA/PublicSupportPY170Pct00.93590
IRS990ScheduleA/PublicSupportTotal170Amt03213748
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02302441
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0128450
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0135607
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0464779
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0182471
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03213748
IRS990ScheduleA/TotalSupportAmt03331706
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt03183970
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03183970
IRS990ScheduleD/EquipmentGrp/BookValueAmt0202128
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0202128
IRS990ScheduleD/LandGrp/BookValueAmt0692111
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0692111
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0381136
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0381136
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01228273
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Restricted reserves
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt011084966
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0225027
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt011309993
IRS990ScheduleD/TotalBookValueLandBuildingsAmt015544311
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01228273
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization's CPA prepares the Form 990 and all attachments from the books and records maintained by the organization. The completed Form 990 is then provided to the management of the organization for review and the Form 8879-EO is executed. This independent preparation and review is considered adequate review of the Form 990 since it is done by a third party tax professional.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All documents are available for review at the office located at 133 N Ireland Street Burlington, NC. Any document(s) required by Federal or North Carolina law and/or regulations to be available for public inspection is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Distributions to affiliates = -$127617
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt013823097
IRS990/TotalAssetsEOYAmt020255187
IRS990/TotalAssetsGrp/BOYAmt013823097
IRS990/TotalAssetsGrp/EOYAmt020255187
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02302441
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0255536
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02083045
IRS990/TotalFunctionalExpensesGrp/TotalAmt02338581
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt092270
IRS990/TotalLiabilitiesEOYAmt05780559
IRS990/TotalLiabilitiesGrp/BOYAmt092270
IRS990/TotalLiabilitiesGrp/EOYAmt05780559
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt013730827
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt014474628
IRS990/TotalProgramServiceExpensesAmt02083045
IRS990/TotalProgramServiceRevenueAmt0818923
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0907558
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03209999
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt013823097
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt020255187
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0133 N Ireland Street
IRS990/USAddress/CityNm0Burlington
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027217
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0burlingtonha.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Veronica Revels
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Burlington Development Corporation
ReturnHeader/Filer/BusinessNameControlTxt0BURL
ReturnHeader/Filer/EIN0561878125
ReturnHeader/Filer/PhoneNum03362268421
ReturnHeader/Filer/USAddress/AddressLine1Txt0133 N Ireland Street
ReturnHeader/Filer/USAddress/CityNm0Burlington
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027217
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0853538974
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Barfield and Kinkead LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03973 Atlanta Highway Suite 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Loganville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030052
ReturnHeader/PreparerPersonGrp/PhoneNum07704667070
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0James E Kinkead CPA
ReturnHeader/ReturnTs02025-05-29T12:26:36-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-10-01
ReturnHeader/TaxPeriodEndDt02024-09-30
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.