Civic Intelligence

Transylvania Partnership Inc

EIN 56-1894322 • 501(c)3 • Brevard, NC

Profile

The organization promotes general economic development in Transylvania County, North Carolina.

147 East Main Street Suite 301Brevard, NC 28712-4620

transylvanianc.org

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.61x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

4.70x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

75th percentile

21%

Higher net margin than 75% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

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

501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

41st percentile

1.9%

Faster asset growth than 41% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

63rd percentile

14%

Faster revenue growth than 63% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$6,166,779

Up $114,463 (+1.9%) from 2023

Liabilities

Down

$3,739,781

Down $170,461 (-4.4%) from 2023

Net Assets

Up

$2,426,998

Up $284,924 (+13%) from 2023

Operations
Liabilities / Revenue95th percentileNet Margin75th percentile

Revenue

Up

$795,110

Up $100,289 (+14%) from 2023

Expenses

Up

$625,186

Up $70,109 (+13%) from 2023

Net Income

Up

$169,924

Up $30,180 (+22%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth41st percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $201,077Liabilities 2011: $7,500Net Assets 2011: $193,5772011Assets 2012: $187,572Liabilities 2012: $7,500Net Assets 2012: $180,0722012Assets 2013: $176,619Liabilities 2013: $7,500Net Assets 2013: $169,1192013Assets 2014: $163,615Liabilities 2014: $11,500Net Assets 2014: $152,1152014Assets 2015: $387,949Liabilities 2015: $56,145Net Assets 2015: $331,8042015Assets 2016: $513,823Liabilities 2016: $1,695Net Assets 2016: $512,1282016Assets 2017: $467,951Liabilities 2017: $19,359Net Assets 2017: $448,5922017Assets 2018: $1,766,838Liabilities 2018: $1,007,844Net Assets 2018: $758,9942018Assets 2019: $6,470,916Liabilities 2019: $5,673,428Net Assets 2019: $797,4882019Assets 2020: $6,283,110Liabilities 2020: $5,566,243Net Assets 2020: $716,8672020Assets 2021: $6,138,523Liabilities 2021: $5,422,575Net Assets 2021: $715,9482021Assets 2022: $6,166,738Liabilities 2022: $4,164,408Net Assets 2022: $2,002,3302022Assets 2023: $6,052,316Liabilities 2023: $3,910,242Net Assets 2023: $2,142,0742023Assets 2024: $6,166,779Liabilities 2024: $3,739,781Net Assets 2024: $2,426,9982024

Highlighted filing

2024

Assets$6,166,779
Liabilities$3,739,781
Net Assets$2,426,998
Open 2024 Filing

Operations Trend

Revenue Growth63rd percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $5,558Expenses 2011: $34,478Net Income 2011: -$28,9202011Revenue 2012: $9,484Expenses 2012: $22,989Net Income 2012: -$13,5052012Revenue 2013: $10,002Expenses 2013: $20,955Net Income 2013: -$10,9532013Revenue 2014: $3,516Expenses 2014: $20,520Net Income 2014: -$17,0042014Revenue 2015: $393,405Expenses 2015: $217,716Net Income 2015: $175,6892015Revenue 2016: $505,002Expenses 2016: $324,678Net Income 2016: $180,3242016Revenue 2017: $519,177Expenses 2017: $574,087Net Income 2017: -$54,9102017Revenue 2018: $637,253Expenses 2018: $326,850Net Income 2018: $310,4032018Revenue 2019: $391,829Expenses 2019: $353,335Net Income 2019: $38,4942019Revenue 2020: $491,578Expenses 2020: $572,199Net Income 2020: -$80,6212020Revenue 2021: $585,654Expenses 2021: $549,173Net Income 2021: $36,4812021Revenue 2022: $1,655,969Expenses 2022: $468,813Net Income 2022: $1,187,1562022Revenue 2023: $694,821Expenses 2023: $555,077Net Income 2023: $139,7442023Revenue 2024: $795,110Expenses 2024: $625,186Net Income 2024: $169,9242024

Highlighted filing

2024

Revenue$795,110
Expenses$625,186
Net Income$169,924
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$6,166,779
Liabilities
$3,739,781
Net assets
$2,426,998
Revenue
$795,110
Expenses
$625,186
Net income
$169,924
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.17$3.74$2.43$0.80$0.63$0.17
2023Detailed filing. Detailed filing data is available for this year.$6.05$3.91$2.14$0.69$0.56$0.14
2022Detailed filing. Detailed filing data is available for this year.$6.17$4.16$2.00$1.66$0.47$1.19
2021Detailed filing. Detailed filing data is available for this year.$6.14$5.42$0.72$0.59$0.55$0.04
2020Detailed filing. Detailed filing data is available for this year.$6.28$5.57$0.72$0.49$0.57$0.08
2019Detailed filing. Detailed filing data is available for this year.$6.47$5.67$0.80$0.39$0.35$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.77$1.01$0.76$0.64$0.33$0.31
2017Detailed filing. Detailed filing data is available for this year.$0.47$0.02$0.45$0.52$0.57$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.51$0.00$0.51$0.51$0.32$0.18
2015Detailed filing. Detailed filing data is available for this year.$0.39$0.06$0.33$0.39$0.22$0.18
2014Detailed filing. Detailed filing data is available for this year.$0.16$0.01$0.15$0.00$0.02$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.01$0.17$0.01$0.02$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.01$0.18$0.01$0.02$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.20$0.01$0.19$0.01$0.03$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 5, 2024
Return Version
2023v5.1
Gross Receipts
$795,110
Mission and Program Overview

Mission

The organization promotes general economic development in transylvania county, north carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,647,323$5,514,894▼ $132,429
Cash and Non-Interest-Bearing Accounts$199,328$367,506▲ $168,178
Savings and Temporary Cash Investments$178,431$222,640▲ $44,209
Accounts Receivable$18,381--
Prepaid Expenses and Deferred Charges$6,419$4,494▼ $1,925
Total Assets$6,052,316$6,166,779▲ $114,463
Other Assets Total$2,434$57,245▲ $54,811
Liabilities
Unsecured Notes Loans Payable$3,887,149$3,658,915▼ $228,234
Other Liabilities$20,000$74,985▲ $54,985
Accounts Payable and Accrued Expenses$3,093$5,881▲ $2,788
Total Liabilities$3,910,242$3,739,781▼ $170,461
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,142,074$2,426,998▲ $284,924
Total Net Assets Fund Balance$2,142,074$2,426,998▲ $284,924
Total Liabilities and Net Assets / Fund Balance$6,052,316$6,166,779▲ $114,463

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,512,617$740,878$5,253,495
Land$1,000,000-$1,000,000
Other Land Buildings$0$14,601$14,601
Equipment$2,277$7,545$9,822
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Burton HodgesExecutive DirectorFT$98,675$9,361$108,036

Board Members and Trustees

NameTitle
Brian TraylorChair
Amber WebbPast Chair
Aaron BakerBoard member
Al PlattBoard member
Bradley AndrewsBoard member
Brian CarringtonBoard member
Cindy PetitBoard member
Hannah CamenzindBoard member
Jake DaltonBoard member
John NicholsBoard member
Kevin HowellBoard member
Laura LeatherwoodBoard member
Mike HawkinsBoard member
Sheila CarlandBoard member
Steve HuntingBoard member
John ShoemakerSecretary
Jim CruickshankTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$427,000
Program Service Revenue
$360,821
Investment Income
$7,289
Other Revenue
$0
All Other Contributions
$25,000
Change in Net Assets
$169,924

Audited Revenue Reconciliation

Revenue per Audited Statements
$795,110
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$795,110
Total Revenue per Form 990
$795,110
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$421,655
Salaries, Compensation, and Employee Benefits$203,531
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$121,245$13,472-$134,717
Occupancy$129,124$2,907-$132,031
Current Officers, Directors, Trustees, and Key Employees$88,808$9,877-$98,685
Other Salaries and Wages$67,775$7,521-$75,296
Conferences and Meetings$60,336$5,056-$65,392
Fees for Services Legal$30,378--$30,378
Other Employee Benefits$14,041$1,560-$15,601
Fees for Services Accounting$15,051--$15,051
Payroll Taxes$12,554$1,395-$13,949
Insurance$8,570$1,442-$10,012
Fees for Services Other$7,438--$7,438
Advertising$6,155--$6,155
Office Expenses$2,870$319-$3,189
Travel$2,454$273-$2,727
Information Technology$2,588$136-$2,724
Other Expenses$15$30-$15
Total Functional Expenses$580,018$45,168$0$625,186

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$625,186
Total Expenses per Audited Statements$625,186
Total Expenses per Form 990$625,186
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating lease liability$54,985
Security Deposits$20,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Conflict-of-interest policy
Yes
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

“Form 990 is provided to the Executive Officers of the Organization who have been authorized by the Board of Directors for review and approval prior to filing.”

Form 990, Part VI, Section B, line 12C

“The conflict of interest is signed annually. If a member knows of a conflict, they make the chair of the board or the board aware of the incident. If a board member is aware of another member's possible conflict,they make the chair or vice-chair aware.”

Form 990, Part VI, Section B, line 15

“Compensation for the Executive Director and Key management positions are reviewed during the budgeting process each year. The compensation ranges for these positions are developed through data comparison of similar organizations in the same geographical area. All information is documented, discussed, and agreed upon by the Board of Directors.The process for determining compensation for officers or key employees is the same as noted above.”

Form 990, Part VI, Section C, line 19

“The governing documents, financial statements, and Form 990 are maintained at the Organization's adminstrative offices and are available upon request to the public.”

Filing and Contact Details

Filer

Filer Name
Transylvania Partnership Inc
EIN
56-1894322
Phone
8288834130
Address
147 East Main Street Suite 301, Brevard, NC 28712-4620
Doing Business As
Transylvania Economic Alliance

Signing Officer

Name
Burton Hodges
Title
Executive Director
Phone
8288834130
Signed
2024-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Burton Hodges
Formed
1994
Legal Domicile
Nc
Voting Board Members
17
Independent Board Members
17
Employees
2
Volunteers
0

Preparer

Firm
Prager Metis CPAs PLLC
Address
32 Orange Street, Asheville, NC 28801
Preparer
Crystal Goldsmith
Phone
8282813161
Supplemental Narrative

Additional Explanations

990 Part XI Line 8

“During the year ended June 30, 2024, management became aware of an accounting error regarding a settlement in a lawsuit of $115,000. This caused a understatement of revenue and accounts receivable in the June 30,2023 form 990. See Part XI, Reconciliation of Net Assets, Line 8.”

Financial Statement Notes

Part X, Line 2:

“FASB ASC 740, "Accounting for Uncertainty in Income Taxes" clarified the accounting for the recognition and measurement of uncertainties in income taxes recognized in an entity's financial statements and prescribes a threshold of more likely-than-not for recognition of tax positions taken or expected to be taken in a tax return. The Organization's policy is to evaluate the likelihood that its uncertain tax positions will prevail upon examination based on the extent to which those positions have substantial support within the Internal Revenue Code and Regulations, Revenue Rulings, court decisions and other evidence.”

Raw XML AppendixShowing 400 of 485 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/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt03093
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt05881
IRS990/AccountsReceivableGrp/BOYAmt018381
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0The organization promotes general economic development in Transylvania County, North Carolina.
IRS990/AdvertisingGrp/ProgramServicesAmt06155
IRS990/AdvertisingGrp/TotalAmt06155
IRS990/AllOtherContributionsAmt025000
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0Burton Hodges
IRS990/BooksInCareOfDetail/PhoneNum08288834130
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0147 East Main Street
IRS990/BooksInCareOfDetail/USAddress/CityNm0Brevard
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NC
IRS990/BooksInCareOfDetail/USAddress/ZIPCd028712
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0199328
IRS990/CashNonInterestBearingGrp/EOYAmt0367506
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt09877
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt088808
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt098685
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt05056
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt060336
IRS990/ConferencesMeetingsGrp/TotalAmt065392
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0427000
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt07289
IRS990/CYOtherExpensesAmt0421655
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0360821
IRS990/CYRevenuesLessExpensesAmt0169924
IRS990/CYSalariesCompEmpBnftPaidAmt0203531
IRS990/CYTotalExpensesAmt0625186
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0795110
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt013472
IRS990/DepreciationDepletionGrp/ProgramServicesAmt0121245
IRS990/DepreciationDepletionGrp/TotalAmt0134717
IRS990/Desc0The organization promotes general economic development in Transylvania County, North Carolina.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DoingBusinessAsName/BusinessNameLine1Txt0Transylvania Economic Alliance
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt02
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0580018
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt015051
IRS990/FeesForServicesAccountingGrp/TotalAmt015051
IRS990/FeesForServicesLegalGrp/ProgramServicesAmt030378
IRS990/FeesForServicesLegalGrp/TotalAmt030378
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt07438
IRS990/FeesForServicesOtherGrp/TotalAmt07438
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt05.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt15.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt25.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt35.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt45.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt52.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt62.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt72.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt82.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt92.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt102.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt112.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt122.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt132.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt142.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1540.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt162.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt172.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd13X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd14X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd15X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd16X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd17X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt159361
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
IRS990/Form990PartVIISectionAGrp/PersonNm0Brian Traylor
IRS990/Form990PartVIISectionAGrp/PersonNm1John Shoemaker
IRS990/Form990PartVIISectionAGrp/PersonNm2Hannah Camenzind
IRS990/Form990PartVIISectionAGrp/PersonNm3Jim Cruickshank
IRS990/Form990PartVIISectionAGrp/PersonNm4Amber Webb
IRS990/Form990PartVIISectionAGrp/PersonNm5Steve Hunting
IRS990/Form990PartVIISectionAGrp/PersonNm6Cindy Petit
IRS990/Form990PartVIISectionAGrp/PersonNm7Sheila Carland
IRS990/Form990PartVIISectionAGrp/PersonNm8Brian Carrington
IRS990/Form990PartVIISectionAGrp/PersonNm9Al Platt
IRS990/Form990PartVIISectionAGrp/PersonNm10John Nichols
IRS990/Form990PartVIISectionAGrp/PersonNm11Mike Hawkins
IRS990/Form990PartVIISectionAGrp/PersonNm12Kevin Howell
IRS990/Form990PartVIISectionAGrp/PersonNm13Aaron Baker
IRS990/Form990PartVIISectionAGrp/PersonNm14Jake Dalton
IRS990/Form990PartVIISectionAGrp/PersonNm15Burton Hodges
IRS990/Form990PartVIISectionAGrp/PersonNm16Laura Leatherwood
IRS990/Form990PartVIISectionAGrp/PersonNm17Bradley Andrews
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt1598675
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt2Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Past Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt15Executive Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt17Board member
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01994
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt017
IRS990/GovernmentGrantsAmt0375000
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0795110
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt017
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt0136
IRS990/InformationTechnologyGrp/ProgramServicesAmt02588
IRS990/InformationTechnologyGrp/TotalAmt02724
IRS990/InsuranceGrp/ManagementAndGeneralAmt01442
IRS990/InsuranceGrp/ProgramServicesAmt08570
IRS990/InsuranceGrp/TotalAmt010012
IRS990/InvestmentIncomeGrp/ExclusionAmt07289
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt07289
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt09
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0763024
IRS990/LandBldgEquipBasisNetGrp/BOYAmt05647323
IRS990/LandBldgEquipBasisNetGrp/EOYAmt05514894
IRS990/LandBldgEquipCostOrOtherBssAmt06277918
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt027000
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The organization promotes general economic development in Transylvania County, North Carolina.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt02142074
IRS990/NetAssetsOrFundBalancesEOYAmt02426998
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02142074
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02426998
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt02907
IRS990/OccupancyGrp/ProgramServicesAmt0129124
IRS990/OccupancyGrp/TotalAmt0132031
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0319
IRS990/OfficeExpensesGrp/ProgramServicesAmt02870
IRS990/OfficeExpensesGrp/TotalAmt03189
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02434
IRS990/OtherAssetsTotalGrp/EOYAmt057245
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01560
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt014041
IRS990/OtherEmployeeBenefitsGrp/TotalAmt015601
IRS990/OtherExpensesGrp/Desc0Telephone and communica
IRS990/OtherExpensesGrp/Desc1Dues and subscriptions
IRS990/OtherExpensesGrp/Desc2Miscellaneous
IRS990/OtherExpensesGrp/Desc3Bank charges
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0988
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1192
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt230
IRS990/OtherExpensesGrp/ProgramServicesAmt08892
IRS990/OtherExpensesGrp/ProgramServicesAmt11724
IRS990/OtherExpensesGrp/ProgramServicesAmt215
IRS990/OtherExpensesGrp/TotalAmt09880
IRS990/OtherExpensesGrp/TotalAmt11916
IRS990/OtherExpensesGrp/TotalAmt230
IRS990/OtherExpensesGrp/TotalAmt315
IRS990/OtherLiabilitiesGrp/BOYAmt020000
IRS990/OtherLiabilitiesGrp/EOYAmt074985
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt07521
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt067775
IRS990/OtherSalariesAndWagesGrp/TotalAmt075296
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01395
IRS990/PayrollTaxesGrp/ProgramServicesAmt012554
IRS990/PayrollTaxesGrp/TotalAmt013949
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt06419
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04494
IRS990/PrincipalOfficerNm0Burton Hodges
IRS990/PriorPeriodAdjustmentsAmt0115000
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Lease - Industrial Sit
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0360821
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0360821
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0334000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03539
IRS990/PYOtherExpensesAmt0360510
IRS990/PYOtherRevenueAmt016
IRS990/PYProgramServiceRevenueAmt0357266
IRS990/PYRevenuesLessExpensesAmt0139744
IRS990/PYSalariesCompEmpBnftPaidAmt0194567
IRS990/PYTotalExpensesAmt0555077
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0694821
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0169924
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0360821
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0178431
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0222640
IRS990ScheduleA/GovernmentalUnitInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt04512617
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0740878
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05253495
IRS990ScheduleD/EquipmentGrp/BookValueAmt02277
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07545
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09822
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0625186
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01000000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01000000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt014601
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt014601
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt154985
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Security Deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Operating lease liability
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0795110
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FASB ASC 740, "Accounting for Uncertainty in Income Taxes" clarified the accounting for the recognition and measurement of uncertainties in income taxes recognized in an entity's financial statements and prescribes a threshold of more likely-than-not for recognition of tax positions taken or expected to be taken in a tax return. The Organization's policy is to evaluate the likelihood that its uncertain tax positions will prevail upon examination based on the extent to which those positions have substantial support within the Internal Revenue Code and Regulations, Revenue Rulings, court decisions and other evidence.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05514894
IRS990ScheduleD/TotalExpensesPerForm990Amt0625186
IRS990ScheduleD/TotalLiabilityAmt074985
IRS990ScheduleD/TotalRevenuePerForm990Amt0795110
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0795110
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0625186
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is provided to the Executive Officers of the Organization who have been authorized by the Board of Directors for review and approval prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The conflict of interest is signed annually. If a member knows of a conflict, they make the chair of the board or the board aware of the incident. If a board member is aware of another member's possible conflict,they make the chair or vice-chair aware.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation for the Executive Director and Key management positions are reviewed during the budgeting process each year. The compensation ranges for these positions are developed through data comparison of similar organizations in the same geographical area. All information is documented, discussed, and agreed upon by the Board of Directors.The process for determining compensation for officers or key employees is the same as noted above.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The governing documents, financial statements, and Form 990 are maintained at the Organization's adminstrative offices and are available upon request to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4During the year ended June 30, 2024, management became aware of an accounting error regarding a settlement in a lawsuit of $115,000. This caused a understatement of revenue and accounts receivable in the June 30,2023 form 990. See Part XI, Reconciliation of Net Assets, Line 8.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4990 Part XI Line 8

Document Assets

No mirrored PDF or thumbnail assets are attached yet.