Civic Intelligence

Richmond Economic Development Corporation

990 • Fiscal year 2017 • EIN 58-1375509

Apr 01, 2016 to Mar 31, 2017 • Filed on May 23, 2017

Organization ProfileWWW.RICHMONDNCED.COM
PO Box 504Rockingham, NC 28380

(910) 997-8190

Siviq Scores

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

Liabilities / Assets

49th percentile

0.01x

Higher debt load relative to assets than 49% of similar nonprofits.

2017 filings • NTEE S30 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

82nd percentile

0.25x

Higher debt load relative to revenue than 82% of similar nonprofits.

2017 filings • NTEE S30 • <$500k nonprofits • Source year 2017

Net Margin

4th percentile

-556%

Higher net margin than 4% of similar nonprofits.

2017 filings • NTEE S30 • <$500k nonprofits • Source year 2017

Top Officer Pay

71st percentile

$0

Higher top officer pay than 71% of similar nonprofits.

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

2017 filings • NTEE S30 • <$500k nonprofits • Source year 2017

Asset Growth

27th percentile

-14%

Faster asset growth than 27% of similar nonprofits.

2017 filings • NTEE S30 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

6th percentile

-89%

Faster revenue growth than 6% of similar nonprofits.

2017 filings • NTEE S30 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets49th percentile

Assets

Down

$87,698

Down $14,360 (-14%) from 2016

Net Assets

Down

$87,022

Down $15,036 (-15%) from 2016

Liabilities

Up

$676

Up $676 from 2016

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin4th percentile

Revenue

Down

$2,703

Down $22,800 (-89%) from 2016

Expenses

Up

$17,719

Up $7,365 (+71%) from 2016

Net Income

Down

-$15,016

Down $30,165 (-199%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $852,347Liabilities 2011: $0Net Assets 2011: $852,3472011Assets 2012: $1,069,167Liabilities 2012: $0Net Assets 2012: $1,069,1672012Assets 2013: $774,251Liabilities 2013: $0Net Assets 2013: $774,2512013Assets 2014: $100,367Liabilities 2014: $0Net Assets 2014: $100,3672014Assets 2015: $86,909Liabilities 2015: $0Net Assets 2015: $86,9092015Assets 2016: $102,058Liabilities 2016: $0Net Assets 2016: $102,0582016Assets 2017: $87,698Liabilities 2017: $676Net Assets 2017: $87,0222017Assets 2018: $83,748Liabilities 2018: $0Net Assets 2018: $83,7482018Assets 2019: $1,105,181Liabilities 2019: $1,000,122Net Assets 2019: $105,0592019Assets 2020: $1,921,180Liabilities 2020: $1,807,741Net Assets 2020: $113,4392020Assets 2021: $2,234,511Liabilities 2021: $1,927,917Net Assets 2021: $306,5942021Assets 2022: $664,790Liabilities 2022: $855,833Net Assets 2022: -$191,0432022Assets 2023: $526,532Liabilities 2023: $624,250Net Assets 2023: -$97,7182023Assets 2024: $633,762Liabilities 2024: $624,291Net Assets 2024: $9,4712024

Highlighted filing

2017

Assets$87,698
Liabilities$676
Net Assets$87,022
Open 2017 Filing

Operations Trend

Revenue Growth6th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $551Expenses 2011: $37,621Net Income 2011: -$37,0702011Revenue 2012: $950,868Expenses 2012: $734,048Net Income 2012: $216,8202012Revenue 2013: $90,656Expenses 2013: $385,572Net Income 2013: -$294,9162013Revenue 2014: -$155,656Expenses 2014: $18,228Net Income 2014: -$173,8842014Revenue 2015: $2,585Expenses 2015: $16,043Net Income 2015: -$13,4582015Revenue 2016: $25,503Expenses 2016: $10,354Net Income 2016: $15,1492016Revenue 2017: $2,703Expenses 2017: $17,719Net Income 2017: -$15,0162017Revenue 2018: $702Expenses 2018: $3,976Net Income 2018: -$3,2742018Revenue 2019: $26,034Expenses 2019: $4,723Net Income 2019: $21,3112019Revenue 2020: $15,024Expenses 2020: $6,644Net Income 2020: $8,3802020Revenue 2021: $245,035Expenses 2021: $51,880Net Income 2021: $193,1552021Revenue 2022: -$468,344Expenses 2022: $25,753Net Income 2022: -$494,0972022Revenue 2023: $99,609Expenses 2023: $6,284Net Income 2023: $93,3252023Revenue 2024: $120,207Expenses 2024: $13,018Net Income 2024: $107,1892024

Highlighted filing

2017

Revenue$2,703
Expenses$17,719
Net Income-$15,016
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2016 to Mar 31, 2017
Signed
May 23, 2017
Return Version
2016v3.0
Gross Receipts
$2,703
Mission and Program Overview

Mission

SEE PT 1, LINE 1.

To facilitate the economic development of richmond county

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$64,743$64,743→ $0
Cash and Non-Interest-Bearing Accounts$37,315$22,955▼ $14,360
Total Assets$102,058$87,698▼ $14,360
Liabilities
Accounts Payable and Accrued Expenses$0$676▲ $676
Total Liabilities$0$676▲ $676
Net Assets / Fund Balance
Unrestricted Net Assets$102,058$87,022▼ $15,036
Total Net Assets Fund Balance$102,058$87,022▼ $15,036
Total Liabilities and Net Assets / Fund Balance$102,058$87,698▼ $14,360

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,539$94,488$98,027
Land$61,204-$61,204
Compensation and Service Providers
Top Officer Pay71st percentile

Board Members and Trustees

NameTitle
Kenneth RobinetteChairman
Bennett Deane IiiVice Chairman
Brian BaucomDirector
Jonathan BuieDirector
Rick SagoSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,000
Program Service Revenue
$0
Investment Income
$3
Other Revenue
$700
All Other Contributions
$2,000
Change in Net Assets
$-15,016

Audited Revenue Reconciliation

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

Major Expense Lines

Line ItemAmount
Other Expenses$17,719
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
Travel$8,762--$8,762
Fees for Services Accounting$1,800--$1,800
Other Expenses$48--$48
Interest$28--$28
Total Functional Expenses$17,719$0$0$17,719

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$17,739
Expenses per Audited Statements$17,719
Total Expenses per Form 990$17,719
Expenses Not Reported on Form 990$20
Expenses Not Reported on Financial Statements$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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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 B, Line 11B

“The form 990 is reviewed and approved by the board members.”

Form 990, Part VI, Section C, Line 18

“The organization's form 990 is made available to the public upon request in the office.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents are made available to the public upon request in the office.”

Filing and Contact Details

Filer

Filer Name
Richmond Economic
EIN
58-1375509
Phone
9109978190
Address
PO BOX 504, ROCKINGHAM, NC 28380

Signing Officer

Name
Rick Sago
Title
Secretary/treasurer
Phone
9109978211
Signed
2017-05-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Sago
Formed
1979
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Dixon Hughes Goodman Llp
Address
130 TURNBERRY WAY, PINEHURST, NC 28374
Preparer
Scott Brewer
Phone
9106928555
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Nondeductible expenses -20.”

Financial Statement Notes

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“NONDEDUCTIBLE EXPENSES”

Part XII, Line 2D Explanation

“This was a personal expense incorrectly recorded on the company's books.”

Raw XML Appendix346 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
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IRS990/AllOtherContributionsAmt02000
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IRS990/BooksInCareOfDetail/PhoneNum09109978211
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0PO BOX 504
IRS990/BooksInCareOfDetail/USAddress/CityNm0ROCKINGHAM
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IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/LoanOutstandingInd00
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
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IRS990/MissionDesc0SEE PT 1, LINE 1.
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IRS990/OtherExpensesGrp/Desc1MEALS
IRS990/OtherExpensesGrp/Desc2CLIENT RELATIONS
IRS990/OtherExpensesGrp/Desc3BANK CHARGES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THIS WAS A PERSONAL EXPENSE INCORRECTLY RECORDED ON THE COMPANY'S BOOKS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D EXPLANATION
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED AND APPROVED BY THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S FORM 990 IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST IN THE OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST IN THE OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NONDEDUCTIBLE EXPENSES -20.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
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IRS990/TotalCompGreaterThan150KInd00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0703
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02703
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0102058
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt087698
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt08762
IRS990/TravelGrp/TotalAmt08762
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0102058
IRS990/UnrestrictedNetAssetsGrp/EOYAmt087022
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 504
IRS990/USAddress/CityNm0ROCKINGHAM
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028380
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.RICHMONDNCED.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICK SAGO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09109978211
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RICHMOND ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0RICH
ReturnHeader/Filer/EIN0581375509
ReturnHeader/Filer/PhoneNum09109978190
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 504
ReturnHeader/Filer/USAddress/CityNm0ROCKINGHAM
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028380
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DFEC672E0293CC02A2DB7D69EEA47F87BEACF36B
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0F1900B34A67D2FE29D2E51C179D17D553618A658
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0204.15.98.225
ReturnHeader/FilingSecurityInformation/IPDt02017-05-23
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm010:38:44
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560747981
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DIXON HUGHES GOODMAN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0130 TURNBERRY WAY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PINEHURST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028374
ReturnHeader/PreparerPersonGrp/PhoneNum09106928555
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SCOTT BREWER
ReturnHeader/ReturnTs02017-06-05T09:58:44-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-04-01
ReturnHeader/TaxPeriodEndDt02017-03-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$87,698
Liabilities
$676
Net assets
$87,022
Revenue
$2,703
Expenses
$17,719
Net income
-$15,016
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.63$0.62$0.01$0.12$0.01$0.11
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.53$0.62$0.10$0.10$0.01$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.86$0.19$0.47$0.03$0.49
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.23$1.93$0.31$0.25$0.05$0.19
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.92$1.81$0.11$0.02$0.01$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$1.00$0.11$0.03$0.00$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.08$0.00$0.08$0.00$0.00$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$0.00$0.02$0.02
2016Summary only. Only limited summary data is available for this year.$0.10$0.00$0.10$0.03$0.01$0.02
2015Summary only. Only limited summary data is available for this year.$0.09$0.00$0.09$0.00$0.02$0.01
2014Summary only. Only limited summary data is available for this year.$0.10$0.00$0.10$0.16$0.02$0.17
2013Summary only. Only limited summary data is available for this year.$0.77$0.00$0.77$0.09$0.39$0.29
2012Summary only. Only limited summary data is available for this year.$1.07$0.00$1.07$0.95$0.73$0.22
2011Summary only. Only limited summary data is available for this year.$0.85$0.00$0.85$0.00$0.04$0.04