Civic Intelligence

Harnett Economic Development Corporation

990 • Fiscal year 2024 • EIN 56-1924426

Jul 01, 2023 to Jun 30, 2024 • Filed on May 30, 2025

Organization ProfileHARNETTEDC.ORG
PO Box 1270Lillington, NC 27546

(910) 893-7524

Siviq Scores

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

Liabilities / Assets

58th percentile

0.25x

Higher debt load relative to assets than 58% of similar nonprofits.

2024 filings • NTEE S • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

51st percentile

0.22x

Higher debt load relative to revenue than 51% of similar nonprofits.

2024 filings • NTEE S • $1M-$5M nonprofits • Source year 2024

Net Margin

88th percentile

46%

Higher net margin than 88% of similar nonprofits.

2024 filings • NTEE S • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2024 filings • NTEE S • $1M-$5M nonprofits • Source year 2024

Asset Growth

17th percentile

-8.6%

Faster asset growth than 17% of similar nonprofits.

2024 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

100th percentile

42135%

Faster revenue growth than 100% of similar nonprofits.

2024 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$2,800,323

Down $263,360 (-8.6%) from 2023

Net Assets

Up

$2,111,407

Up $1,218,164 (+136%) from 2023

Liabilities

Down

$688,916

Down $1,481,524 (-68%) from 2023

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin88th percentile

Revenue

Up

$3,097,065

Up $3,089,732 (+42135%) from 2023

Expenses

Up

$1,665,904

Up $1,580,186 (+1843%) from 2023

Net Income

Up

$1,431,161

Up $1,509,546 (+1926%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$15M$10M$5.0M$0Assets 2011: $14,251,872Liabilities 2011: $9,456,577Net Assets 2011: $4,795,2952011Assets 2012: $14,604,205Liabilities 2012: $8,305,186Net Assets 2012: $6,299,0192012Assets 2013: $13,813,833Liabilities 2013: $6,857,001Net Assets 2013: $6,956,8322013Assets 2014: $14,356,162Liabilities 2014: $7,214,736Net Assets 2014: $7,141,4262014Assets 2015: $10,936,446Liabilities 2015: $3,969,135Net Assets 2015: $6,967,3112015Assets 2016: $792,947Liabilities 2016: $24,001Net Assets 2016: $768,9462016Assets 2017: $740,076Liabilities 2017: $3,296Net Assets 2017: $736,7802017Assets 2018: $738,608Liabilities 2018: $0Net Assets 2018: $738,6082018Assets 2019: $1,087,944Liabilities 2019: $353,284Net Assets 2019: $734,6602019Assets 2020: $3,272,935Liabilities 2020: $2,548,659Net Assets 2020: $724,2762020Assets 2022: $3,142,068Liabilities 2022: $2,170,440Net Assets 2022: $971,6282022Assets 2023: $3,063,683Liabilities 2023: $2,170,440Net Assets 2023: $893,2432023Assets 2024: $2,800,323Liabilities 2024: $688,916Net Assets 2024: $2,111,4072024Assets 2025: $2,742,845Liabilities 2025: $709,870Net Assets 2025: $2,032,9752025

Highlighted filing

2024

Assets$2,800,323
Liabilities$688,916
Net Assets$2,111,407
Open 2024 Filing

Operations Trend

Revenue Growth100th percentile

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

$5.0M$0-$5.0M-$10MRevenue 2011: $1,305,725Expenses 2011: $855,169Net Income 2011: $450,5562011Revenue 2012: $2,686,479Expenses 2012: $1,182,755Net Income 2012: $1,503,7242012Revenue 2013: $2,245,304Expenses 2013: $1,587,491Net Income 2013: $657,8132013Revenue 2014: $827,785Expenses 2014: $643,191Net Income 2014: $184,5942014Revenue 2015: $231,129Expenses 2015: $405,244Net Income 2015: -$174,1152015Revenue 2016: -$5,953,342Expenses 2016: $245,023Net Income 2016: -$6,198,3652016Revenue 2017: $13,858Expenses 2017: $46,024Net Income 2017: -$32,1662017Revenue 2018: $6,832Expenses 2018: $5,005Net Income 2018: $1,8272018Revenue 2019: $9,144Expenses 2019: $7,273Net Income 2019: $1,8712019Revenue 2020: $4,881Expenses 2020: $15,265Net Income 2020: -$10,3842020Revenue 2022: $2,352Expenses 2022: $72,149Net Income 2022: -$69,7972022Revenue 2023: $7,333Expenses 2023: $85,718Net Income 2023: -$78,3852023Revenue 2024: $3,097,065Expenses 2024: $1,665,904Net Income 2024: $1,431,1612024Revenue 2025: $57,779Expenses 2025: $136,211Net Income 2025: -$78,4322025

Highlighted filing

2024

Revenue$3,097,065
Expenses$1,665,904
Net Income$1,431,161
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 30, 2025
Return Version
2023v6.0
Gross Receipts
$3,097,065
Mission and Program Overview

Mission

Promote harnett county economic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$1,562,440--
Savings and Temporary Cash Investments-$822,432-
Other Notes and Loans Receivable, Net-$700,000-
Cash and Non-Interest-Bearing Accounts$893,244$669,891▼ $223,353
Land, Buildings, and Equipment, Net$2,170,440$608,000▼ $1,562,440
Total Assets$3,063,684$2,800,323▼ $263,361
Liabilities
Mortgage Notes Payable Secured by Investment Property$608,000$688,916▲ $80,916
Total Liabilities$2,170,440$688,916▼ $1,481,524
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$893,244$1,499,428▲ $606,184
Net Assets With Donor Restrictions-$611,979-
Total Net Assets Fund Balance$893,244$2,111,407▲ $1,218,163
Total Liabilities and Net Assets / Fund Balance$3,063,684$2,800,323▼ $263,361

Asset Categories

AssetBook ValueDepreciationBasis
Land$608,000--
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Jeff WhittingtonChair
Jerry MiltonVice Chair
Angie StewartBoard Member
Eric WhiteBoard Member
Jeffrey DunnBoard Member
Scott NelsonBoard Member
Townsend QuinnBoard Member
W Brooks MatthewsCounty Commi
William MorrisCounty Commi
Brent TroutEx-officio B
J Bradley CreedEx-officio B
Lisa ChapmanEx-officio B
Phyllis GodwinSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$2,572
Program Service Revenue
$1,700,000
Investment Income
$32,550
Other Revenue
$1,361,943
Change in Net Assets
$1,431,161
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,665,904
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
Fees for Services Other$1,567,500--$1,567,500
Fees for Services Accounting$19,054--$19,054
Other Expenses-$8,850-$8,850
Insurance-$1,488-$1,488
All Other Expenses-$1,180-$1,180
Office Expenses$136--$136
Total Functional Expenses$1,586,690$79,214$0$1,665,904
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
Loans from Officers, Directors, Trustees, and Key Employees$1,562,440--
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
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 a, line 9 - officers who cannot be reached at the mailing address on return. Phyllis godwin, 200 champion dr, dunn, nc 29334. Jeff whittington, 200 e cumberland st, dunn, nc 28334. Jake mays, treasurer, 402 mckinney parkway, lillington, nc27546”

Form 990, Page 6, Part VI, Line 11B

“Treasurer reviews, documents, shares with other officers. Voting members are provided access prior to filing document”

Form 990, Page 6, Part VI, Line 12C

“Organization monitors compliance of conflict of interest policy by maintaining a working knowledge of each director and business relationships.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Harnett Economic Development
EIN
56-1924426
Phone
9108937524
Address
PO BOX 1270, LILLINGTON, NC 27546

Signing Officer

Name
Angie Stewart
Title
Board Member
Phone
9108146893
Signed
2025-05-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Whittington
Formed
1994
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
20

Preparer

Firm
Danny B West Pllc
Address
PO BOX 985, DUNN, NC 28335-0985
Preparer
Danny B West CPA
Phone
9108920380
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Cost of sale 1,567,500 0 0”

Raw XML Appendix377 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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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02175500
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IRS990ScheduleA/PublicSupportPY170Pct00.94880
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IRS990ScheduleD/LandGrp/BookValueAmt0608000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0608000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0608000
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SECTION A, LINE 9 - OFFICERS WHO CANNOT BE REACHED AT THE MAILING ADDRESS ON RETURN. PHYLLIS GODWIN, 200 CHAMPION DR, DUNN, NC 29334. JEFF WHITTINGTON, 200 E CUMBERLAND ST, DUNN, NC 28334. JAKE MAYS, TREASURER, 402 MCKINNEY PARKWAY, LILLINGTON, NC27546
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TREASURER REVIEWS, DOCUMENTS, SHARES WITH OTHER OFFICERS. VOTING MEMBERS ARE PROVIDED ACCESS PRIOR TO FILING DOCUMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION MONITORS COMPLIANCE OF CONFLICT OF INTEREST POLICY BY MAINTAINING A WORKING KNOWLEDGE OF EACH DIRECTOR AND BUSINESS RELATIONSHIPS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COST OF SALE 1,567,500 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt03063684
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IRS990/TotalContributionsAmt02572
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt079214
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01586690
IRS990/TotalFunctionalExpensesGrp/TotalAmt01665904
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IRS990/TotalLiabilitiesEOYAmt0688916
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0HARNETTEDC.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ANGIE STEWART
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD MEMBER
ReturnHeader/BusinessOfficerGrp/PhoneNum09108146893
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HARNETT ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0HARN
ReturnHeader/Filer/EIN0561924426
ReturnHeader/Filer/PhoneNum09108937524
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1270
ReturnHeader/Filer/USAddress/CityNm0LILLINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027546
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0454154123
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DANNY B WEST PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 985
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DUNN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0283350985
ReturnHeader/PreparerPersonGrp/PhoneNum09108920380
ReturnHeader/PreparerPersonGrp/PreparationDt02025-06-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DANNY B WEST CPA
ReturnHeader/ReturnTs02025-06-18T15:02:15-04:00
ReturnHeader/ReturnTypeCd0990
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
$2,800,323
Liabilities
$688,916
Net assets
$2,111,407
Revenue
$3,097,065
Expenses
$1,665,904
Net income
$1,431,161
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.74$0.71$2.03$0.06$0.14$0.08
2024Detailed filing. Detailed filing data is available for this year.$2.80$0.69$2.11$3.10$1.67$1.43
2023Detailed filing. Detailed filing data is available for this year.$3.06$2.17$0.89$0.01$0.09$0.08
2022Detailed filing. Detailed filing data is available for this year.$3.14$2.17$0.97$0.00$0.07$0.07
2020Summary only. Only limited summary data is available for this year.$3.27$2.55$0.72$0.00$0.02$0.01
2019Summary only. Only limited summary data is available for this year.$1.09$0.35$0.73$0.01$0.01$0.00
2018Summary only. Only limited summary data is available for this year.$0.74$0.00$0.74$0.01$0.01$0.00
2017Summary only. Only limited summary data is available for this year.$0.74$0.00$0.74$0.01$0.05$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.79$0.02$0.77$5.95$0.25$6.20
2015Detailed filing. Detailed filing data is available for this year.$10.9$3.97$6.97$0.23$0.41$0.17
2014Detailed filing. Detailed filing data is available for this year.$14.4$7.21$7.14$0.83$0.64$0.18
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.8$6.86$6.96$2.25$1.59$0.66
2012Summary only. Only limited summary data is available for this year.$14.6$8.31$6.30$2.69$1.18$1.50
2011Summary only. Only limited summary data is available for this year.$14.3$9.46$4.80$1.31$0.86$0.45