Civic Intelligence

Wilkes Economic Development Corporation

990 • Fiscal year 2019 • EIN 56-1957642

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 03, 2020

Organization ProfileWWW.WILKESEDC.COM
213 Ninth StreetNorth Wilkesboro, NC 28659

(336) 838-1402

Siviq Scores

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

Liabilities / Assets

21st percentile

0.02x

Higher debt load relative to assets than 21% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

34th percentile

0.07x

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

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Net Margin

47th percentile

3.3%

Higher net margin than 47% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

48th percentile

$91,577

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 24.8% of source-year revenue.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Asset Growth

49th percentile

2.5%

Faster asset growth than 49% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

47th percentile

2.9%

Faster revenue growth than 47% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$1,588,299

Up $38,855 (+2.5%) from 2018

Net Assets

Up

$1,561,802

Up $12,358 (+0.8%) from 2018

Liabilities

Up

$26,497

Up $26,497 from 2018

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin47th percentile

Revenue

Up

$369,819

Up $10,420 (+2.9%) from 2018

Expenses

Down

$357,460

Down $2,012 (-0.6%) from 2018

Net Income

Up

$12,359

Up $12,432 (+17030%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $576,313Liabilities 2010: $723Net Assets 2010: $575,5902010Assets 2012: $1,297,651Liabilities 2012: $27Net Assets 2012: $1,297,6242012Assets 2013: $1,421,397Liabilities 2013: $4,168Net Assets 2013: $1,417,2292013Assets 2014: $1,559,680Liabilities 2014: $0Net Assets 2014: $1,559,6802014Assets 2015: $1,621,662Liabilities 2015: $0Net Assets 2015: $1,621,6622015Assets 2016: $1,522,495Liabilities 2016: $1,539Net Assets 2016: $1,520,9562016Assets 2017: $1,549,515Liabilities 2017: $0Net Assets 2017: $1,549,5152017Assets 2018: $1,549,444Liabilities 2018: $0Net Assets 2018: $1,549,4442018Assets 2019: $1,588,299Liabilities 2019: $26,497Net Assets 2019: $1,561,8022019Assets 2020: $1,653,312Liabilities 2020: $1,344Net Assets 2020: $1,651,9682020Assets 2021: $1,468,078Liabilities 2021: $1,517Net Assets 2021: $1,466,5612021Assets 2022: $3,607,748Liabilities 2022: $0Net Assets 2022: $3,607,7482022Assets 2023: $4,481,472Liabilities 2023: $4,439Net Assets 2023: $4,477,0332023Assets 2024: $4,824,394Liabilities 2024: $13,257Net Assets 2024: $4,811,1372024

Highlighted filing

2019

Assets$1,588,299
Liabilities$26,497
Net Assets$1,561,802
Open 2019 Filing

Operations Trend

Revenue Growth47th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $442,565Expenses 2010: $394,186Net Income 2010: $48,3792010Expenses 2012: $353,3032012Expenses 2013: $359,9012013Revenue 2014: $454,853Expenses 2014: $312,396Net Income 2014: $142,4572014Revenue 2015: $456,779Expenses 2015: $394,801Net Income 2015: $61,9782015Revenue 2016: $408,547Expenses 2016: $510,705Net Income 2016: -$102,1582016Revenue 2017: $442,350Expenses 2017: $399,611Net Income 2017: $42,7392017Revenue 2018: $359,399Expenses 2018: $359,472Net Income 2018: -$732018Revenue 2019: $369,819Expenses 2019: $357,460Net Income 2019: $12,3592019Revenue 2020: $532,003Expenses 2020: $441,837Net Income 2020: $90,1662020Revenue 2021: $374,575Expenses 2021: $559,982Net Income 2021: -$185,4072021Revenue 2022: $2,586,920Expenses 2022: $445,733Net Income 2022: $2,141,1872022Revenue 2023: $1,430,166Expenses 2023: $560,880Net Income 2023: $869,2862023Revenue 2024: $1,118,327Expenses 2024: $784,225Net Income 2024: $334,1022024

Highlighted filing

2019

Revenue$369,819
Expenses$357,460
Net Income$12,359
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 3, 2020
Return Version
2018v3.2
Gross Receipts
$373,569
Mission and Program Overview

Mission

Economic development of wilkes county

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$765,180$982,142▲ $216,962
Pledges and Grants Receivable$355,500$355,500→ $0
Cash and Non-Interest-Bearing Accounts$318,139$146,805▼ $171,334
Investments Program Related$78,574$74,824▼ $3,750
Other Notes and Loans Receivable, Net$14,738$19,171▲ $4,433
Land, Buildings, and Equipment, Net$17,313$9,857▼ $7,456
Total Assets$1,549,444$1,588,299▲ $38,855
Liabilities
Accounts Payable and Accrued Expenses-$26,497-
Total Liabilities$0$26,497▲ $26,497
Net Assets / Fund Balance
Temporarily Rstr Net Assets$861,284$871,858▲ $10,574
Unrestricted Net Assets$688,160$689,944▲ $1,784
Total Net Assets Fund Balance$1,549,444$1,561,802▲ $12,358
Total Liabilities and Net Assets / Fund Balance$1,549,444$1,588,299▲ $38,855

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,857$64,267$74,124
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Leeann NixonPresidentFT$79,788$11,789$91,577
Robin HambyVice PresideFT$67,138$12,717$79,855
Dan LittlePresidentFT$16,750$2,398$19,148

Board Members and Trustees

NameTitle
Terry BumgarnerChairman
Brett CothrenVice Chair
Eric CramerVice Chair
Bill WardenDirector
Eddie SettleDirector
Frank TaracidoDirector
Gary DaemerDirector
Gary JohnsonDirector
Jim SmoakDirector
Joe JohnstonDirector
John CothernDirector
Keith ElmoreDirector
Nellie ArchibaldDirector
Ron WilcoxDirector
Victor VarelaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$356,250
Program Service Revenue
$0
Investment Income
$7,130
Other Revenue
$6,439
All Other Contributions
$750
Change in Net Assets
$12,359
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$204,322
Other Expenses$153,138
Total Fundraising Expense$20,340
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$59,590$87,718$16,368$163,676
Other Employee Benefits$7,488$9,360$1,872$18,720
All Other Expenses$15,375$1,722-$17,097
Advertising$14,628--$14,628
Payroll Taxes$5,590$6,870$1,282$13,742
Occupancy$9,240$3,960-$13,200
Fees for Services Accounting-$11,530-$11,530
Office Expenses$10,174--$10,174
Pension Plan Contributions$2,980$4,386$818$8,184
Depreciation Depletion$7,455--$7,455
Other Expenses$4,538--$4,538
Conferences and Meetings$2,809--$2,809
Insurance$2,344--$2,344
Travel$1,146--$1,146
Total Functional Expenses$211,574$125,546$20,340$357,460
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
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, Page 6, Part VI, Line 11B

“The finance committee meets to review the form 990 in detail before it is submitted. The finance committee chairman reports the financial information to the full board at the next meeting. At that time copies are available for interested board members.”

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

“Any edc board member who is affiliated in any way with a company or potential project does not participate in discussion or vote on such matters pertaining to their involvement outside of our organization.”

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

“The north carolina school of government compiles information regarding compensation levels for a multitude of county and government positions across north carolina including economic developers. The results of this study are used in determining the compensation level of edc staff. Annual performance evaluations of staff members are performed by the executive committee. The executive committee is comprised of a representative from all funding partners (county, towns, and chamber). Any changes in compensation will be taken as a committee recommendation before the board at the next meeting for approval.”

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

“SAME AS FOR PRESIDENT”

Form 990, Page 6, Part VI, Line 19

“Copies are available upon request.”

Filing and Contact Details

Filer

Filer Name
Wilkes Economic Development
EIN
56-1957642
Phone
3368381402
Address
213 NINTH STREET, NORTH WILKESBORO, NC 28659

Signing Officer

Name
Leeann Nixon
Title
President
Phone
3368381402
Signed
2020-04-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leeann Nixon
Formed
1996
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
9
Employees
3

Preparer

Firm
Benson Blevins & Associates Pllc
Address
302 9TH ST PO BOX 1026, NORTH WILKESBORO, NC 28659-4106
Preparer
Jody R Hamby
Phone
3368383175
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“ROUNDING -1”

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME 9,186
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FINANCE COMMITTEE MEETS TO REVIEW THE FORM 990 IN DETAIL BEFORE IT IS SUBMITTED. THE FINANCE COMMITTEE CHAIRMAN REPORTS THE FINANCIAL INFORMATION TO THE FULL BOARD AT THE NEXT MEETING. AT THAT TIME COPIES ARE AVAILABLE FOR INTERESTED BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANY EDC BOARD MEMBER WHO IS AFFILIATED IN ANY WAY WITH A COMPANY OR POTENTIAL PROJECT DOES NOT PARTICIPATE IN DISCUSSION OR VOTE ON SUCH MATTERS PERTAINING TO THEIR INVOLVEMENT OUTSIDE OF OUR ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE NORTH CAROLINA SCHOOL OF GOVERNMENT COMPILES INFORMATION REGARDING COMPENSATION LEVELS FOR A MULTITUDE OF COUNTY AND GOVERNMENT POSITIONS ACROSS NORTH CAROLINA INCLUDING ECONOMIC DEVELOPERS. THE RESULTS OF THIS STUDY ARE USED IN DETERMINING THE COMPENSATION LEVEL OF EDC STAFF. ANNUAL PERFORMANCE EVALUATIONS OF STAFF MEMBERS ARE PERFORMED BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE IS COMPRISED OF A REPRESENTATIVE FROM ALL FUNDING PARTNERS (COUNTY, TOWNS, AND CHAMBER). ANY CHANGES IN COMPENSATION WILL BE TAKEN AS A COMMITTEE RECOMMENDATION BEFORE THE BOARD AT THE NEXT MEETING FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SAME AS FOR PRESIDENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COPIES ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ROUNDING -1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,588,299
Liabilities
$26,497
Net assets
$1,561,802
Revenue
$369,819
Expenses
$357,460
Net income
$12,359
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.82$0.01$4.81$1.12$0.78$0.33
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.48$0.00$4.48$1.43$0.56$0.87
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.61$0.00$3.61$2.59$0.45$2.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.47$0.00$1.47$0.37$0.56$0.19
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.65$0.00$1.65$0.53$0.44$0.09
2019Detailed filing. Detailed filing data is available for this year.$1.59$0.03$1.56$0.37$0.36$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.55$0.00$1.55$0.36$0.36$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.55$0.00$1.55$0.44$0.40$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.52$0.00$1.52$0.41$0.51$0.10
2015Detailed filing. Detailed filing data is available for this year.$1.62$0.00$1.62$0.46$0.39$0.06
2014Detailed filing. Detailed filing data is available for this year.$1.56$0.00$1.56$0.45$0.31$0.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.42$0.00$1.42$0.36
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$0.00$1.30$0.35
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$0.00$0.58$0.44$0.39$0.05