Civic Intelligence

North Carolina'S Northeast Economic Development Foundation Inc

990 • Fiscal year 2021 • EIN 56-1995352

Jul 01, 2020 to Jun 30, 2021 • Filed on May 12, 2022

Organization ProfileN/A
216 S Broad Street No 200Edenton, NC 27932

(252) 482-4333

Siviq Scores

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

Liabilities / Assets

78th percentile

0.19x

Higher debt load relative to assets than 78% of similar nonprofits.

2021 filings • NTEE B99 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

0.13x

Higher debt load relative to revenue than 78% of similar nonprofits.

2021 filings • NTEE B99 • <$500k nonprofits • Source year 2021

Net Margin

17th percentile

-31%

Higher net margin than 17% of similar nonprofits.

2021 filings • NTEE B99 • <$500k nonprofits • Source year 2021

Top Officer Pay

97th percentile

$98,032

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 35.2% of source-year revenue.

2021 filings • NTEE B99 • <$500k nonprofits • Source year 2021

Asset Growth

21st percentile

-21%

Faster asset growth than 21% of similar nonprofits.

2021 filings • NTEE B99 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

79th percentile

78%

Faster revenue growth than 79% of similar nonprofits.

2021 filings • NTEE B99 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$189,275

Down $50,100 (-21%) from 2020

Net Assets

Down

$154,231

Down $85,144 (-36%) from 2020

Liabilities

Up

$35,044

Up $35,044 from 2020

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin17th percentile

Revenue

Up

$278,392

Up $122,230 (+78%) from 2020

Expenses

Up

$363,536

Up $213,802 (+143%) from 2020

Net Income

Down

-$85,144

Down $91,572 (-1425%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $49,947Liabilities 2011: $53,5242011Assets 2012: $66,696Liabilities 2012: $27,2002012Assets 2013: $62,181Liabilities 2013: $0Net Assets 2013: $62,1812013Assets 2014: $62,185Liabilities 2014: $02014Assets 2015: $500,051Liabilities 2015: $0Net Assets 2015: $500,0512015Assets 2016: $295,700Liabilities 2016: $63,738Net Assets 2016: $231,9622016Assets 2017: $192,790Liabilities 2017: $18,824Net Assets 2017: $173,9662017Assets 2018: $280,166Liabilities 2018: $28,971Net Assets 2018: $251,1952018Assets 2019: $241,277Liabilities 2019: $8,330Net Assets 2019: $232,9472019Assets 2020: $239,375Liabilities 2020: $0Net Assets 2020: $239,3752020Assets 2021: $189,275Liabilities 2021: $35,044Net Assets 2021: $154,2312021Assets 2022: $266,767Liabilities 2022: $68,372Net Assets 2022: $198,3952022Assets 2023: $1,993,344Liabilities 2023: $38,996Net Assets 2023: $1,954,3482023

Highlighted filing

2021

Assets$189,275
Liabilities$35,044
Net Assets$154,231
Open 2021 Filing

Operations Trend

Revenue Growth79th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $97,410Expenses 2011: $189,917Net Income 2011: -$92,5072011Revenue 2012: $133,020Expenses 2012: $89,948Net Income 2012: $43,0722012Revenue 2013: $35,928Expenses 2013: $40,443Net Income 2013: -$4,5152013Revenue 2014: $4Expenses 2014: $0Net Income 2014: $42014Revenue 2015: $500,002Expenses 2015: $62,136Net Income 2015: $437,8662015Revenue 2016: $305,231Expenses 2016: $573,320Net Income 2016: -$268,0892016Revenue 2017: $241,263Expenses 2017: $299,259Net Income 2017: -$57,9962017Revenue 2018: $290,587Expenses 2018: $213,358Net Income 2018: $77,2292018Revenue 2019: $228,071Expenses 2019: $246,319Net Income 2019: -$18,2482019Revenue 2020: $156,162Expenses 2020: $149,734Net Income 2020: $6,4282020Revenue 2021: $278,392Expenses 2021: $363,536Net Income 2021: -$85,1442021Revenue 2022: $812,466Expenses 2022: $768,302Net Income 2022: $44,1642022Revenue 2023: $2,617,071Expenses 2023: $861,118Net Income 2023: $1,755,9532023

Highlighted filing

2021

Revenue$278,392
Expenses$363,536
Net Income-$85,144
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 12, 2022
Return Version
2020v4.2
Gross Receipts
$278,392
Mission and Program Overview

Mission

Organized exclusively for charitable, religious, educational and scientific purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the irs code.

The organization is developing networks through the collaborative efforts of regional businesses, school districts, economic development municipalities, private foundations, state and local government and many others, our intent is that students across our region will engage in real-world stem learning opportunities that directly align with career opportunities in eastern north carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$181,683$177,632▼ $4,051
Accounts Receivable$0$11,643▲ $11,643
Total Assets$239,375$189,275▼ $50,100
Other Assets Total$57,692$0▼ $57,692
Liabilities
Accounts Payable and Accrued Expenses$0$35,044▲ $35,044
Total Liabilities$0$35,044▲ $35,044
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$190,888$154,231▼ $36,657
Net Assets With Donor Restrictions$48,487$0▼ $48,487
Total Net Assets Fund Balance$239,375$154,231▼ $85,144
Total Liabilities and Net Assets / Fund Balance$239,375$189,275▼ $50,100
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Vann RogersonExecutive DirectorPT$16,081$81,951$98,032

Board Members and Trustees

NameTitle
Todd EdwardsVice Chair
Mark HamblinChariman
Amy BraswellMember
Dr Michael Van ScottMember
Dr Michael WaldrumMember
Roland VaughanMember
Tracey JohnsonMember
Revenue and Support

Revenue Composition

Contributions and Grants
$278,392
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$278,392
Change in Net Assets
$-85,144
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$245,299
Salaries, Compensation, and Employee Benefits$118,237
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$94,368--$94,368
Occupancy$51,433--$51,433
Fees for Services Management$33,150--$33,150
Other Employee Benefits$15,583--$15,583
Advertising$15,000--$15,000
Payroll Taxes$8,286--$8,286
Insurance$1,259--$1,259
Other Expenses$319--$319
Office Expenses$232--$232
Total Functional Expenses$363,536$0$0$363,536
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
Audit committee
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
No
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 7A

“The board members are encouraged to recommend individuals from the community they believe may provide management, financial, legal, public relations or program service related expertise for the foundation.”

Form 990, Part VI, Section B, Line 11B

“The governing body will review the return prior to filing.”

Form 990, Part VI, Section C, Line 19

“Documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
NORTH CAROLINA'S EASTERN ECONOMIC
EIN
56-1995352
Phone
2524824333
Address
216 S BROAD STREET NO 200, EDENTON, NC 27932

Signing Officer

Name
Vann Rogerson
Title
Executive Director
Phone
2526896496
Signed
2022-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Van Rogerson
Formed
1996
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
3
Volunteers
0

Preparer

Firm
Carr Riggs & Ingram Pllc
Address
2805 N PARK DRIVE, GOLDSBORO, NC 27532
Preparer
Michael C Jordan CPA
Phone
9197518297
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“No change in oversight during the year.”

Financial Statement Notes

PART X, LINE 2:

“The organization follows guidance in asc 740-10, income taxes as it relates to uncertain tax positions. Any interest and penalties recognized associated with a tax position are classified as current liabilities within the organization's financial statements. Management believes all positions taken would be upheld under examination. Therefore, no provisions for the effects of uncertain tax positions have been recorded for the year ended june 30, 2021.”

Raw XML Appendix394 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS GUIDANCE IN ASC 740-10, INCOME TAXES AS IT RELATES TO UNCERTAIN TAX POSITIONS. ANY INTEREST AND PENALTIES RECOGNIZED ASSOCIATED WITH A TAX POSITION ARE CLASSIFIED AS CURRENT LIABILITIES WITHIN THE ORGANIZATION'S FINANCIAL STATEMENTS. MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER EXAMINATION. THEREFORE, NO PROVISIONS FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAVE BEEN RECORDED FOR THE YEAR ENDED JUNE 30, 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD MEMBERS ARE ENCOURAGED TO RECOMMEND INDIVIDUALS FROM THE COMMUNITY THEY BELIEVE MAY PROVIDE MANAGEMENT, FINANCIAL, LEGAL, PUBLIC RELATIONS OR PROGRAM SERVICE RELATED EXPERTISE FOR THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY WILL REVIEW THE RETURN PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO CHANGE IN OVERSIGHT DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NORTH CAROLINAS EASTERN ALLIANCE CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0510422797
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(4)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROMOTE AND ENCOURAGE ECONOMIC DEVELOPMENT WITHIN EASTERN NORTH CAROLINA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0216 S BROAD ST STE 200
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0EDENTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027932
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0NORTH CAROLINAS EASTERN ALLIANCE CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1NORTH CAROLINAS EASTERN ALLIANCE CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0N
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1O
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0239375
IRS990/TotalAssetsEOYAmt0189275
IRS990/TotalAssetsGrp/BOYAmt0239375
IRS990/TotalAssetsGrp/EOYAmt0189275
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0278392
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0363536
IRS990/TotalFunctionalExpensesGrp/TotalAmt0363536
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt035044
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt035044
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0239375
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0154231
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0363536
IRS990/TotalReportableCompFromOrgAmt016081
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0278392
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0239375
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0189275
IRS990/TotReportableCompRltdOrgAmt081951
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0216 S BROAD STREET NO 200
IRS990/USAddress/CityNm0EDENTON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027932
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0VANN ROGERSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02526896496
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NORTH CAROLINA'S EASTERN ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0NORT
ReturnHeader/Filer/EIN0561995352
ReturnHeader/Filer/PhoneNum02524824333
ReturnHeader/Filer/USAddress/AddressLine1Txt0216 S BROAD STREET NO 200
ReturnHeader/Filer/USAddress/CityNm0EDENTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027932
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0721396621
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CARR RIGGS & INGRAM PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02805 N PARK DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GOLDSBORO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027532
ReturnHeader/PreparerPersonGrp/PhoneNum09197518297
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL C JORDAN CPA
ReturnHeader/ReturnTs02022-05-13T15:03:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0VANN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ROGERSON
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$189,275
Liabilities
$35,044
Net assets
$154,231
Revenue
$278,392
Expenses
$363,536
Net income
-$85,144
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$1.99$0.04$1.95$2.62$0.86$1.76
2022Detailed filing. Detailed filing data is available for this year.$0.27$0.07$0.20$0.81$0.77$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.19$0.04$0.15$0.28$0.36$0.09
2020Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$0.16$0.15$0.01
2019Summary only. Only limited summary data is available for this year.$0.24$0.01$0.23$0.23$0.25$0.02
2018Summary only. Only limited summary data is available for this year.$0.28$0.03$0.25$0.29$0.21$0.08
2017Summary only. Only limited summary data is available for this year.$0.19$0.02$0.17$0.24$0.30$0.06
2016Summary only. Only limited summary data is available for this year.$0.30$0.06$0.23$0.31$0.57$0.27
2015Detailed filing. Detailed filing data is available for this year.$0.50$0.00$0.50$0.50$0.06$0.44
2014Summary only. Only limited summary data is available for this year.$0.06$0.00$0.00$0.00$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.06$0.00$0.06$0.04$0.04$0.00
2012Summary only. Only limited summary data is available for this year.$0.07$0.03$0.13$0.09$0.04
2011Summary only. Only limited summary data is available for this year.$0.05$0.05$0.10$0.19$0.09