Civic Intelligence

Richmond Economic Development Corporation

990 • Fiscal year 2020 • EIN 58-1375509

Apr 01, 2019 to Mar 31, 2020 • Filed on Jun 16, 2020

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

90th percentile

0.94x

Higher debt load relative to assets than 90% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

100th percentile

120.32x

Higher debt load relative to revenue than 100% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Net Margin

90th percentile

56%

Higher net margin than 90% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Asset Growth

92nd percentile

74%

Faster asset growth than 92% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

13th percentile

-42%

Faster revenue growth than 13% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$1,921,180

Up $815,999 (+74%) from 2019

Net Assets

Up

$113,439

Up $8,380 (+8.0%) from 2019

Liabilities

Up

$1,807,741

Up $807,619 (+81%) from 2019

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin90th percentile

Revenue

Down

$15,024

Down $11,010 (-42%) from 2019

Expenses

Up

$6,644

Up $1,921 (+41%) from 2019

Net Income

Down

$8,380

Down $12,931 (-61%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth92nd 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

2020

Assets$1,921,180
Liabilities$1,807,741
Net Assets$113,439
Open 2020 Filing

Operations Trend

Revenue Growth13th 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

2020

Revenue$15,024
Expenses$6,644
Net Income$8,380
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2019 to Mar 31, 2020
Signed
Jun 16, 2020
Return Version
2019v5.1
Gross Receipts
$15,024
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$441,794$60,648▼ $381,146
Total Assets$1,105,181$1,921,180▲ $815,999
Other Assets Total$598,644$1,795,789▲ $1,197,145
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,000,000$1,807,741▲ $807,741
Accounts Payable and Accrued Expenses$122$0▼ $122
Total Liabilities$1,000,122$1,807,741▲ $807,619
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$105,059$113,439▲ $8,380
Total Net Assets Fund Balance$105,059$113,439▲ $8,380
Total Liabilities and Net Assets / Fund Balance$1,105,181$1,921,180▲ $815,999

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,539$94,488$98,027
Land$61,204-$61,204
Other Assets Org$1,795,789--
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Kenneth RobinetteChairman
Bennett Deane IiiVice Chairman
Brian BaucomDirector
Jonathan BuieDirector
Dena R CookSecretary
Bryan R LandTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$15,000
Program Service Revenue
$0
Investment Income
$24
Other Revenue
$0
Change in Net Assets
$8,380
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,644
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 Accounting$1,815--$1,815
Advertising$151--$151
Other Expenses$48--$48
Total Functional Expenses$6,644$0$0$6,644
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 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 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
Bryan R Land
Title
Treasurer
Phone
9104171189
Signed
2020-06-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bryan R Land
Formed
1979
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Dixon Hughes Goodman Llp
Address
130 TURNBERRY WAY, PINEHURST, NC 28374
Preparer
Robin Bennett
Phone
9106928555
Raw XML Appendix337 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/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.RICHMONDNCED.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRYAN R LAND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09104171189
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-06-16
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
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0202E80A98725B3633AB59A3DE660289F0FF0EB3D
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt071.217.58.2
ReturnHeader/FilingSecurityInformation/IPDt02020-06-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm010:28:20
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/PreparationDt02020-06-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBIN BENNETT
ReturnHeader/ReturnTs02020-06-23T15:44:15-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-04-01
ReturnHeader/TaxPeriodEndDt02020-03-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,921,180
Liabilities
$1,807,741
Net assets
$113,439
Revenue
$15,024
Expenses
$6,644
Net income
$8,380
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
2020Detailed filing. Detailed filing data is available for this year.$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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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