Civic Intelligence

Richmond Economic Development Corporation

990 • Fiscal year 2021 • EIN 58-1375509

Apr 01, 2020 to Mar 31, 2021 • Filed on Aug 13, 2021

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

91st percentile

0.86x

Higher debt load relative to assets than 91% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

96th percentile

7.87x

Higher debt load relative to revenue than 96% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Net Margin

95th percentile

79%

Higher net margin than 95% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Asset Growth

64th percentile

16%

Faster asset growth than 64% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

99th percentile

1531%

Faster revenue growth than 99% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$2,234,511

Up $313,331 (+16%) from 2020

Net Assets

Up

$306,594

Up $193,155 (+170%) from 2020

Liabilities

Up

$1,927,917

Up $120,176 (+6.6%) from 2020

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin95th percentile

Revenue

Up

$245,035

Up $230,011 (+1531%) from 2020

Expenses

Up

$51,880

Up $45,236 (+681%) from 2020

Net Income

Up

$193,155

Up $184,775 (+2205%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth64th 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

2021

Assets$2,234,511
Liabilities$1,927,917
Net Assets$306,594
Open 2021 Filing

Operations Trend

Revenue Growth99th 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

2021

Revenue$245,035
Expenses$51,880
Net Income$193,155
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2020 to Mar 31, 2021
Signed
Aug 13, 2021
Return Version
2020v4.1
Gross Receipts
$272,516
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$2,060,090▲ $1,995,347
Cash and Non-Interest-Bearing Accounts$60,648$149,421▲ $88,773
Total Assets$1,921,180$2,234,511▲ $313,331
Other Assets Total$1,795,789$25,000▼ $1,770,789
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,807,741$1,927,917▲ $120,176
Total Liabilities$1,807,741$1,927,917▲ $120,176
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$113,439$306,594▲ $193,155
Total Net Assets Fund Balance$113,439$306,594▲ $193,155
Total Liabilities and Net Assets / Fund Balance$1,921,180$2,234,511▲ $313,331

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,998,886$140,354$2,139,240
Land$61,204-$61,204
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$9
Other Revenue
$245,026
Change in Net Assets
$193,155
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$51,880
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
Depreciation Depletion$45,866--$45,866
Fees for Services Accounting$1,850--$1,850
Other Expenses$314--$314
Total Functional Expenses$51,880$0$0$51,880
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$70,074
Gaming Direct Expenses$27,481
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
2021-08-13
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
1829 EASTCHESTER DRIVE, HIGH POINT, NC 27265
Preparer
Brian L Doud
Phone
3368895156
Raw XML Appendix355 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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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/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt051880
IRS990/TotalFunctionalExpensesGrp/TotalAmt051880
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01807741
IRS990/TotalLiabilitiesEOYAmt01927917
IRS990/TotalLiabilitiesGrp/BOYAmt01807741
IRS990/TotalLiabilitiesGrp/EOYAmt01927917
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0113439
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0306594
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt051880
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt09
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0245026
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0245035
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01921180
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02234511
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 504
IRS990/USAddress/CityNm0ROCKINGHAM
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028380
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.RICHMONDNCED.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRYAN R LAND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09104171189
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-13
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/PreparerFirmGrp/PreparerFirmEIN0560747981
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DIXON HUGHES GOODMAN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01829 EASTCHESTER DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HIGH POINT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027265
ReturnHeader/PreparerPersonGrp/PhoneNum03368895156
ReturnHeader/PreparerPersonGrp/PreparationDt02021-08-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRIAN L DOUD
ReturnHeader/ReturnTs02021-08-16T07:59:16-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRYAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LAND
ReturnHeader/TaxPeriodBeginDt02020-04-01
ReturnHeader/TaxPeriodEndDt02021-03-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$2,234,511
Liabilities
$1,927,917
Net assets
$306,594
Revenue
$245,035
Expenses
$51,880
Net income
$193,155
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
2021Detailed filing. Detailed filing data is available for this year.$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
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