Civic Intelligence

Martin County Economic Development Corporation

990 • Fiscal year 2014 • EIN 56-2042675

Jul 01, 2013 to Jun 30, 2014 • Filed on May 12, 2015

Organization ProfileWWW.MARTINCOUNTYEDC.COM
415 East Boulevard27892

(252) 789-4904

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.21x

Higher debt load relative to assets than 52% of similar nonprofits.

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

Liabilities / Revenue

81st percentile

1.04x

Higher debt load relative to revenue than 81% of similar nonprofits.

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

Net Margin

84th percentile

29%

Higher net margin than 84% of similar nonprofits.

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

Top Officer Pay

31st percentile

$79,758

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 7.9% of source-year revenue.

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

Asset Growth

5th percentile

-17%

Faster asset growth than 5% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

11th percentile

-23%

Faster revenue growth than 11% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2012 to 2014

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Down

$5,105,008

Down $1,023,038 (-17%) from 2013

Net Assets

Up

$4,057,988

Up $290,423 (+7.7%) from 2013

Liabilities

Down

$1,047,020

Down $1,313,461 (-56%) from 2013

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin84th percentile

Revenue

$1,004,392

No earlier filing loaded for comparison.

Expenses

Down

$713,969

Down $361,286 (-34%) from 2013

Net Income

$290,423

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$10M$5.0M$0Assets 2011: $8,036,549Liabilities 2011: $3,999,616Net Assets 2011: $4,036,9332011Assets 2012: $7,363,340Liabilities 2012: $3,587,656Net Assets 2012: $3,775,6842012Assets 2013: $6,128,046Liabilities 2013: $2,360,481Net Assets 2013: $3,767,5652013Assets 2014: $5,105,008Liabilities 2014: $1,047,020Net Assets 2014: $4,057,9882014Assets 2015: $6,179,066Liabilities 2015: $914,042Net Assets 2015: $5,265,0242015Assets 2016: $5,495,875Liabilities 2016: $363,471Net Assets 2016: $5,132,4042016Assets 2017: $5,184,602Liabilities 2017: $342,967Net Assets 2017: $4,841,6352017Assets 2018: $4,279,211Liabilities 2018: $324,749Net Assets 2018: $3,954,4622018Assets 2019: $1,825,260Liabilities 2019: $20,335Net Assets 2019: $1,804,9252019Assets 2020: $1,734,390Liabilities 2020: $14,749Net Assets 2020: $1,719,6412020Assets 2021: $1,779,076Liabilities 2021: $15,784Net Assets 2021: $1,763,2922021Assets 2022: $1,786,300Liabilities 2022: $7,733Net Assets 2022: $1,778,5672022Assets 2023: $1,956,605Liabilities 2023: $137,312Net Assets 2023: $1,819,2932023Assets 2024: $2,087,140Liabilities 2024: $125,313Net Assets 2024: $1,961,8272024Assets 2025: $2,192,464Liabilities 2025: $98,731Net Assets 2025: $2,093,7332025

Highlighted filing

2014

Assets$5,105,008
Liabilities$1,047,020
Net Assets$4,057,988
Open 2014 Filing

Operations Trend

Revenue Growth11th percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2011: $2,736,266Expenses 2011: $2,823,506Net Income 2011: -$87,2402011Revenue 2012: $1,705,342Expenses 2012: $1,966,591Net Income 2012: -$261,2492012Expenses 2013: $1,075,2552013Revenue 2014: $1,004,392Expenses 2014: $713,969Net Income 2014: $290,4232014Revenue 2015: $1,817,423Expenses 2015: $610,387Net Income 2015: $1,207,0362015Revenue 2016: $467,565Expenses 2016: $600,185Net Income 2016: -$132,6202016Revenue 2017: $460,126Expenses 2017: $556,831Net Income 2017: -$96,7052017Revenue 2018: -$266,357Expenses 2018: $576,794Net Income 2018: -$843,1512018Revenue 2019: -$1,635,603Expenses 2019: $513,934Net Income 2019: -$2,149,5372019Revenue 2020: $205,096Expenses 2020: $290,380Net Income 2020: -$85,2842020Revenue 2021: $273,295Expenses 2021: $229,644Net Income 2021: $43,6512021Revenue 2022: $234,468Expenses 2022: $219,193Net Income 2022: $15,2752022Revenue 2023: $253,673Expenses 2023: $212,947Net Income 2023: $40,7262023Revenue 2024: $379,980Expenses 2024: $237,446Net Income 2024: $142,5342024Revenue 2025: $374,595Expenses 2025: $242,689Net Income 2025: $131,9062025

Highlighted filing

2014

Revenue$1,004,392
Expenses$713,969
Net Income$290,423
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 12, 2015
Return Version
2013v4.0
Gross Receipts
$1,595,664
Mission and Program Overview

Mission

To promote economic development within martin county, north carolina and surrounding areas.

To promote economic development within the county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,070,682$2,538,095▼ $532,587
Savings and Temporary Cash Investments$357,722$357,985▲ $263
Cash and Non-Interest-Bearing Accounts$177,544$193,735▲ $16,191
Pledges and Grants Receivable$566,364$151,357▼ $415,007
Accounts Receivable$3,318$4,212▲ $894
Total Assets$6,128,046$5,105,008▼ $1,023,038
Other Assets Total$1,952,416$1,859,624▼ $92,792
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,871,958$1,011,892▼ $860,066
Deferred Revenue$340,507$0▼ $340,507
Escrow Account Liability$110,000$0▼ $110,000
Accounts Payable and Accrued Expenses$33,216$31,628▼ $1,588
Other Liabilities$4,800$3,500▼ $1,300
Total Liabilities$2,360,481$1,047,020▼ $1,313,461
Net Assets / Fund Balance
Unrestricted Net Assets$3,243,370$2,846,335▼ $397,035
Temporarily Rstr Net Assets$524,195$1,211,653▲ $687,458
Permanently Rstr Net Assets$0--
Total Net Assets Fund Balance$3,767,565$4,057,988▲ $290,423
Total Liabilities and Net Assets / Fund Balance$6,128,046$5,105,008▼ $1,023,038

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,820,980$442,110$2,263,090
Buildings$391,296$168,699$559,995
Equipment$39,248$361,735$400,983
Land$286,571-$286,571
Other Assets Org$500--
Compensation and Service Providers
Top Officer Pay31st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Marvin DavisPresident/CEOFT$79,758$79,758

Board Members and Trustees

NameTitle
Laurence Lilley JrChairman
Joe AyersVice Chairman
Abner HouseDirector
Becky EdwardsDirector
Elmo LilleyDirector
Phil HodgesDirector
Ricardo HardisonDirector
Shirley FieldsDirector
Taylor SladeDirector
Tom WinslowDirector
Carroll JonesSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$927,312
Program Service Revenue
$180,703
Investment Income
$-127,442
Other Revenue
$23,819
Change in Net Assets
$290,423

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,004,392
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,004,392
Total Revenue per Form 990
$1,004,392
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$558,089
Salaries, Compensation, and Employee Benefits$155,880
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$112,032--$112,032
Depreciation Depletion$96,959--$96,959
Current Officers, Directors, Trustees, and Key Employees$75,695$4,063-$79,758
Interest$55,060--$55,060
Other Salaries and Wages$52,744--$52,744
Insurance$36,427--$36,427
Information Technology$34,000--$34,000
Fees for Services Management$19,027--$19,027
Fees for Services Legal$15,527--$15,527
Fees for Services Accounting$13,935--$13,935
Travel$11,880--$11,880
Payroll Taxes$9,740$305-$10,045
Other Employee Benefits$9,453--$9,453
Office Expenses$5,972--$5,972
Pension Plan Contributions$3,367$513-$3,880
Advertising$3,501--$3,501
Other Expenses$1,329--$1,329
Total Functional Expenses$709,088$4,881$0$713,969

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$713,969
Total Expenses per Audited Statements$713,969
Total Expenses per Form 990$713,969
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
Deposits$3,500
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 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 7A

“The organization is governed by a 12 member board of directors. Martin county appoints four members: two members may be county commissioners and two members being citizens of martin county. The remaining members are elected by the board. Members serve for 3 year staggered term.”

Form 990, Part VI, Section B, Line 11

“President/ceo and current chairman review form 990 prior to filing.”

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

“When items of business occur, if there are any conflicts of interest, the conflict is brought to the entire board's attention. In addition, the independent auditor annually requests written confirmation of any conflicts of interest with each board member and management.”

Form 990, Part VI, Section C, Line 19

“The board's policies and financial information is available for public inspection at our office during normal business hours. The documents are also sent to the martin county board of commissioners, the highest elected governmental organization in our county.”

Filing and Contact Details

Filer

EIN
56-2042675
Phone
2527894904

Signing Officer

Name
Marvin Davis
Title
Executive Director
Phone
2527894904
Signed
2015-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laurence Lilley
Formed
1997
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
5
Volunteers
0

Preparer

Preparer
Lowell G Taylor CPA
Phone
2527926081
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Telephone and postage $30,215 utilities 60,508 equipment rental 2,065 industry recruitment 6,352 contract services 8,300 dues and subscriptions 2,042 miscellaneous 2,550”

FORM 990, PART XII, LINE 2C:

“Audited financial statements are presented to the board members for review. Any questions or revisions are directed to the auditing firm and addressed as appropriate.”

Financial Statement Notes

PART X, LINE 2:

“Any interest and penalties associated with a tax position are classified as current liabilities within the organization's financial statements. Income tax returns have not been examined by the internal revenue service or by the state of north carolina within the last three years (6/30/2012, 6/30/2013, 6/30/2014) and remain open to examination. No waivers have been signed extending the statute of limitations on years otherwise barred. However, the organization is not currently under audit nor has the organization been contacted by either of these jurisdictions.”

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IRS990/MissionDesc0TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THE COUNTY.
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IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt01871958
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt01011892
IRS990/NetAssetsOrFundBalancesBOYAmt03767565
IRS990/NetAssetsOrFundBalancesEOYAmt04057988
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-135498
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-135498
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ProgramServicesAmt05972
IRS990/OfficeExpensesGrp/TotalAmt05972
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01952416
IRS990/OtherAssetsTotalGrp/EOYAmt01859624
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt09453
IRS990/OtherEmployeeBenefitsGrp/TotalAmt09453
IRS990/OtherExpensesGrp/Desc0MAINTENANCE
IRS990/OtherExpensesGrp/Desc1PROPERTY TAXES
IRS990/OtherExpensesGrp/Desc2REIMBURSEMENT
IRS990/OtherExpensesGrp/ProgramServicesAmt0101653
IRS990/OtherExpensesGrp/ProgramServicesAmt150787
IRS990/OtherExpensesGrp/ProgramServicesAmt21329
IRS990/OtherExpensesGrp/TotalAmt0101653
IRS990/OtherExpensesGrp/TotalAmt150787
IRS990/OtherExpensesGrp/TotalAmt21329
IRS990/OtherLiabilitiesGrp/BOYAmt04800
IRS990/OtherLiabilitiesGrp/EOYAmt03500
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/Desc1EXPENSE REIMBURSEMENT
IRS990/OtherRevenueMiscGrp/ExclusionAmt016180
IRS990/OtherRevenueMiscGrp/ExclusionAmt17639
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt016180
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt17639
IRS990/OtherRevenueTotalAmt023819
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt052744
IRS990/OtherSalariesAndWagesGrp/TotalAmt052744
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0305
IRS990/PayrollTaxesGrp/ProgramServicesAmt09740
IRS990/PayrollTaxesGrp/TotalAmt010045
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0513
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt03367
IRS990/PensionPlanContributionsGrp/TotalAmt03880
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0566364
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0151357
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0LAURENCE LILLEY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/Desc0TELECENTER PROPERTY RENTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0180703
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0180703
IRS990/ProgSrvcAccomActy2Grp/Desc0BUSINESS SUPPORT AND INDUSTRIAL RECRUITMENT INCLUDES COST OF PROVIDING LEASED SPACE TO EXISTING INDUSTRY, COST OF REHABILITATING EXISTING FACILITY FOR NEW INDUSTRY, SOFT COST OF NEW SHELL BUILDING, AND INCENTIVES TO NEW INDUSTRY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0330884
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0791814
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0294857
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0154548
IRS990/PYOtherExpensesAmt0921873
IRS990/PYOtherRevenueAmt023276
IRS990/PYProgramServiceRevenueAmt0594455
IRS990/PYRevenuesLessExpensesAmt0-8119
IRS990/PYSalariesCompEmpBnftPaidAmt0153382
IRS990/PYTotalExpensesAmt01075255
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01067136
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0290423
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0212578
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0357722
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0357985
IRS990ScheduleA/Form990ScheduleAPartIVGrp/ExplanationTxt0MISCELLANEOUS INCOME $16,180 REIMBURSEMENTS 7,639
IRS990ScheduleA/Form990ScheduleAPartIVGrp/FormAndLineReferenceDesc0SCHEDULE A, PERT II, LINE 10E
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0927312
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0294857
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0866384
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01876044
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01545633
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt05510230
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt08056
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt06397
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt07670
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt04110
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0917
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt027150
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt023819
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt023276
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt07597
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt08221
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt010633
IRS990ScheduleA/OtherIncome170Grp/TotalAmt073546
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.98210
IRS990ScheduleA/PublicSupportPY170Pct00.98260
IRS990ScheduleA/PublicSupportTotal170Amt05510230
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0927312
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0294857
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0866384
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01876044
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01545633
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt05510230
IRS990ScheduleA/TotalSupportAmt05610926
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/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0391296
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0168699
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0559995
IRS990ScheduleD/EquipmentGrp/BookValueAmt039248
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0361735
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0400983
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0713969
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd00
IRS990ScheduleD/LandGrp/BookValueAmt0286571
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0286571
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0252569
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1650000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2580610
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3369848
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt46097
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt5500
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED CASH
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1PROPERTY HELD FOR SALE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2LEASE RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4PREPAID INSURANCE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5OTHER
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01820980
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0442110
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02263090
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01004392
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ANY INTEREST AND PENALTIES ASSOCIATED WITH A TAX POSITION ARE CLASSIFIED AS CURRENT LIABILITIES WITHIN THE ORGANIZATION'S FINANCIAL STATEMENTS. INCOME TAX RETURNS HAVE NOT BEEN EXAMINED BY THE INTERNAL REVENUE SERVICE OR BY THE STATE OF NORTH CAROLINA WITHIN THE LAST THREE YEARS (6/30/2012, 6/30/2013, 6/30/2014) AND REMAIN OPEN TO EXAMINATION. NO WAIVERS HAVE BEEN SIGNED EXTENDING THE STATUTE OF LIMITATIONS ON YEARS OTHERWISE BARRED. HOWEVER, THE ORGANIZATION IS NOT CURRENTLY UNDER AUDIT NOR HAS THE ORGANIZATION BEEN CONTACTED BY EITHER OF THESE JURISDICTIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02538095
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01859624
IRS990ScheduleD/TotalExpensesPerForm990Amt0713969
IRS990ScheduleD/TotalLiabilityAmt03500
IRS990ScheduleD/TotalRevenuePerForm990Amt01004392
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01004392
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0713969
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS GOVERNED BY A 12 MEMBER BOARD OF DIRECTORS. MARTIN COUNTY APPOINTS FOUR MEMBERS: TWO MEMBERS MAY BE COUNTY COMMISSIONERS AND TWO MEMBERS BEING CITIZENS OF MARTIN COUNTY. THE REMAINING MEMBERS ARE ELECTED BY THE BOARD. MEMBERS SERVE FOR 3 YEAR STAGGERED TERM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRESIDENT/CEO AND CURRENT CHAIRMAN REVIEW FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WHEN ITEMS OF BUSINESS OCCUR, IF THERE ARE ANY CONFLICTS OF INTEREST, THE CONFLICT IS BROUGHT TO THE ENTIRE BOARD'S ATTENTION. IN ADDITION, THE INDEPENDENT AUDITOR ANNUALLY REQUESTS WRITTEN CONFIRMATION OF ANY CONFLICTS OF INTEREST WITH EACH BOARD MEMBER AND MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD'S POLICIES AND FINANCIAL INFORMATION IS AVAILABLE FOR PUBLIC INSPECTION AT OUR OFFICE DURING NORMAL BUSINESS HOURS. THE DOCUMENTS ARE ALSO SENT TO THE MARTIN COUNTY BOARD OF COMMISSIONERS, THE HIGHEST ELECTED GOVERNMENTAL ORGANIZATION IN OUR COUNTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TELEPHONE AND POSTAGE $30,215 UTILITIES 60,508 EQUIPMENT RENTAL 2,065 INDUSTRY RECRUITMENT 6,352 CONTRACT SERVICES 8,300 DUES AND SUBSCRIPTIONS 2,042 MISCELLANEOUS 2,550
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AUDITED FINANCIAL STATEMENTS ARE PRESENTED TO THE BOARD MEMBERS FOR REVIEW. ANY QUESTIONS OR REVISIONS ARE DIRECTED TO THE AUDITING FIRM AND ADDRESSED AS APPROPRIATE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,105,008
Liabilities
$1,047,020
Net assets
$4,057,988
Revenue
$1,004,392
Expenses
$713,969
Net income
$290,423
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.19$0.10$2.09$0.37$0.24$0.13
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.09$0.13$1.96$0.38$0.24$0.14
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.96$0.14$1.82$0.25$0.21$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.79$0.01$1.78$0.23$0.22$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.78$0.02$1.76$0.27$0.23$0.04
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.73$0.01$1.72$0.21$0.29$0.09
2019Summary only. Only limited summary data is available for this year.$1.83$0.02$1.80$1.64$0.51$2.15
2018Summary only. Only limited summary data is available for this year.$4.28$0.32$3.95$0.27$0.58$0.84
2017Summary only. Only limited summary data is available for this year.$5.18$0.34$4.84$0.46$0.56$0.10
2016Summary only. Only limited summary data is available for this year.$5.50$0.36$5.13$0.47$0.60$0.13
2015Summary only. Only limited summary data is available for this year.$6.18$0.91$5.27$1.82$0.61$1.21
2014Detailed filing. Detailed filing data is available for this year.$5.11$1.05$4.06$1.00$0.71$0.29
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.13$2.36$3.77$1.08
2012Summary only. Only limited summary data is available for this year.$7.36$3.59$3.78$1.71$1.97$0.26
2011Summary only. Only limited summary data is available for this year.$8.04$4.00$4.04$2.74$2.82$0.09