Civic Intelligence

The Georgia Center for Nonprofits

EIN 58-2554789 • 501(c)3 • Atlanta, GA

Profile

Georgia center for nonprofits builds thriving communities by helping nonprofits succeed. Through a powerful mix of advocacy, solutions for nonprofit effectiveness, and insight building tools, gcn provides nonprofits, board members and donors with the tools they need to strengthen organizations that make a difference on important causes throughout georgia.

881 Memorial Dr SE Unit 1001Atlanta, GA 30316

www.gcn.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

66th percentile

0.28x

Higher debt load relative to assets than 66% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

76th percentile

0.54x

Higher debt load relative to revenue than 76% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

53rd percentile

5.9%

Higher net margin than 53% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

87th percentile

$297,224

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 10.7% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

42nd percentile

1.8%

Faster asset growth than 42% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

12th percentile

-25%

Faster revenue growth than 12% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$5,222,865

Up $91,369 (+1.8%) from 2023

Liabilities

Up

$1,485,649

Up $97,158 (+7.0%) from 2023

Net Assets

Down

$3,737,216

Down $5,789 (-0.2%) from 2023

Revenue

Down

$2,766,218

Down $906,179 (-25%) from 2023

Expenses

Up

$2,601,783

Up $120,417 (+4.9%) from 2023

Net Income

Down

$164,435

Down $1,026,596 (-86%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $1,729,274Liabilities 2011: $387,787Net Assets 2011: $1,341,4872011Assets 2012: $1,846,438Liabilities 2012: $589,852Net Assets 2012: $1,256,5862012Assets 2013: $1,492,670Liabilities 2013: $481,290Net Assets 2013: $1,011,3802013Assets 2014: $1,634,673Liabilities 2014: $515,451Net Assets 2014: $1,119,2222014Assets 2015: $1,417,856Liabilities 2015: $480,452Net Assets 2015: $937,4042015Assets 2016: $1,708,044Liabilities 2016: $499,845Net Assets 2016: $1,208,1992016Assets 2017: $1,402,300Liabilities 2017: $521,078Net Assets 2017: $881,2222017Assets 2018: $1,438,447Liabilities 2018: $536,667Net Assets 2018: $901,7802018Assets 2019: $2,278,031Liabilities 2019: $689,084Net Assets 2019: $1,588,9472019Assets 2020: $2,336,696Liabilities 2020: $522,062Net Assets 2020: $1,814,6342020Assets 2021: $4,074,793Liabilities 2021: $1,616,408Net Assets 2021: $2,458,3852021Assets 2022: $4,159,241Liabilities 2022: $1,619,948Net Assets 2022: $2,539,2932022Assets 2023: $5,131,496Liabilities 2023: $1,388,491Net Assets 2023: $3,743,0052023Assets 2024: $5,222,865Liabilities 2024: $1,485,649Net Assets 2024: $3,737,2162024

Highlighted filing

2024

Assets$5,222,865
Liabilities$1,485,649
Net Assets$3,737,216

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $3,210,040Expenses 2011: $2,406,052Net Income 2011: $803,9882011Expenses 2012: $2,728,5712012Expenses 2013: $3,020,3922013Revenue 2014: $3,065,749Expenses 2014: $2,986,752Net Income 2014: $78,9972014Revenue 2015: $3,256,271Expenses 2015: $3,438,920Net Income 2015: -$182,6492015Revenue 2016: $3,813,671Expenses 2016: $3,513,599Net Income 2016: $300,0722016Revenue 2017: $1,744,016Expenses 2017: $1,462,078Net Income 2017: $281,9382017Revenue 2018: $2,592,144Expenses 2018: $2,571,586Net Income 2018: $20,5582018Revenue 2019: $3,323,241Expenses 2019: $2,636,074Net Income 2019: $687,1672019Revenue 2020: $2,873,224Expenses 2020: $2,448,715Net Income 2020: $424,5092020Revenue 2021: $3,217,029Expenses 2021: $2,573,278Net Income 2021: $643,7512021Revenue 2022: $2,380,381Expenses 2022: $2,299,473Net Income 2022: $80,9082022Revenue 2023: $3,672,397Expenses 2023: $2,481,366Net Income 2023: $1,191,0312023Revenue 2024: $2,766,218Expenses 2024: $2,601,783Net Income 2024: $164,4352024

Highlighted filing

2024

Revenue$2,766,218
Expenses$2,601,783
Net Income$164,435

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.22$1.49$3.74$2.77$2.60$0.16
2023Summary only. Only limited summary data is available for this year.$5.13$1.39$3.74$3.67$2.48$1.19
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.16$1.62$2.54$2.38$2.30$0.08
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.07$1.62$2.46$3.22$2.57$0.64
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.34$0.52$1.81$2.87$2.45$0.42
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.28$0.69$1.59$3.32$2.64$0.69
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.44$0.54$0.90$2.59$2.57$0.02
2017Summary only. Only limited summary data is available for this year.$1.40$0.52$0.88$1.74$1.46$0.28
2016Summary only. Only limited summary data is available for this year.$1.71$0.50$1.21$3.81$3.51$0.30
2015Summary only. Only limited summary data is available for this year.$1.42$0.48$0.94$3.26$3.44$0.18
2014Detailed filing. Detailed filing data is available for this year.$1.63$0.52$1.12$3.07$2.99$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.49$0.48$1.01$3.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$0.59$1.26$2.73
2011Summary only. Only limited summary data is available for this year.$1.73$0.39$1.34$3.21$2.41$0.80
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 6, 2025
Return Version
2024v5.2
Gross Receipts
$2,766,218
Mission and Program Overview

Mission

Georgia center for nonprofits builds thriving communities by helping nonprofits succeed. Through a powerful mix of advocacy, solutions for nonprofit effectiveness, and insight building tools, gcn provides nonprofits, board members and donors with the tools they need to strengthen organizations that make a difference on important causes throughout georgia.

Our mission is to create thriving communities by helping nonprofits succeed. Our work revolves around four primary areas of focus.1. We are a hub for social innovation 2. We are a capacity accelerator for organizations and their people3. We are georgia's largest association of nonprofits and its industry champion. 4. We are an influential convenor of changemakers

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,665,729$3,430,038▼ $235,691
Savings and Temporary Cash Investments$1,001,465$1,023,069▲ $21,604
Accounts Receivable$25,645$607,556▲ $581,911
Intangible Assets$119,702$116,508▼ $3,194
Cash and Non-Interest-Bearing Accounts-$25,694-
Pledges and Grants Receivable-$15,000-
Prepaid Expenses and Deferred Charges$18,451$5,000▼ $13,451
Total Assets$5,131,496$5,222,865▲ $91,369
Other Assets Total$300,504$0▼ $300,504
Liabilities
Mortgage Notes Payable Secured by Investment Property$918,592$878,201▼ $40,391
Deferred Revenue$259,326$444,394▲ $185,068
Accounts Payable and Accrued Expenses$210,573$163,054▼ $47,519
Total Liabilities$1,388,491$1,485,649▲ $97,158
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,493,005$3,487,216▼ $5,789
Net Assets With Donor Restrictions$250,000$250,000→ $0
Total Net Assets Fund Balance$3,743,005$3,737,216▼ $5,789
Total Liabilities and Net Assets / Fund Balance$5,131,496$5,222,865▲ $91,369

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,695,197$125,358$2,820,555
Other Land Buildings$674,160$426,857$1,101,017
Equipment$60,681$29,118$89,799
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karen BeavorCEOFT$272,186$25,038$297,224
Laurie BaasControllerFT$125,444$18,359$143,803
James L NealDirector of ConsultingFT$119,665$18,397$138,062
Luiza RaposoDirector of MarketingFT$122,070$9,096$131,166

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,275,118
Program Service Revenue
$1,461,700
Investment Income
$1,114
Other Revenue
$28,286
All Other Contributions
$981,884
Change in Net Assets
$164,435

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,766,218
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$113,452
Total Revenue per Audited Statements
$2,879,670
Total Revenue per Form 990
$2,766,218
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,726,244
Other Expenses$875,539
Total Fundraising Expense$260,290
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$785,465$88,583$130,357$1,004,405
Current Officers, Directors, Trustees, and Key Employees$310,955$35,068$51,607$397,630
Depreciation Depletion$224,789$13,347$15,383$253,519
Fees for Services Other$154,721$5,240-$159,961
Other Employee Benefits$115,571$13,352$20,369$149,292
Occupancy$69,476$27,636$3,009$100,121
Payroll Taxes$74,074$8,558$13,056$95,688
Pension Plan Contributions$61,333$7,086$10,810$79,229
Advertising$57,166--$57,166
Information Technology$31,070$4,359$2,728$38,157
Interest$25,948$2,554$2,600$31,102
Fees for Services Accounting-$27,743-$27,743
Insurance-$25,301-$25,301
Office Expenses$4,050$7,636$262$11,948
Other Expenses$663$3,328$3,688$7,679
All Other Expenses$278$2,000$1,599$3,877
Travel$3,097$185-$3,282
Total Functional Expenses$2,043,239$298,254$260,290$2,601,783

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,715,236
Expenses per Audited Statements$2,601,784
Total Expenses per Form 990$2,601,784
Expenses Not Reported on Form 990$113,452
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
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

990 draft is provided to the board, questions will be directed to management or preparers, when all questions have been answered and board is satisfied, filing occurs.

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

Disclosure within the organization should be made to the ceo (if the conflict exists with the ceo, then disclosure should be made with the board chair) who shall determine whether a conflict exists and is material, and, if the matter is material, bring it to the attention of the board chair. Disclosures involving directors should be made to the board chair, who shall bring such matters, if material, to the board. The board shall determine whether a conflict exists and is material, and in the presence of an existing material conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to gcn. The decision of the board on these matters will rest in their sole discretion, and their concern must be the welfare of gcn and the advancement of its purpose.

Form 990, Part VI, Section B, Line 15

To determine executive director compensation, the board of directors looks at a minimum of three neutral benchmark studies for the positions, selects similar organizations in the region to benchmark, and then reviews that information, speaking with an outside compensation consultant, if necessary. To determine compensation for other officers or key employees, benchmark studies and compensation reports for similar organizations are used.

Form 990, Part VI, Section C, Line 19

AVAILABLE ON REQUEST.

Filing and Contact Details

Filer

Filer Name
The Georgia Center for Nonprofits
EIN
58-2554789
Phone
6789163035
Address
881 MEMORIAL DR SE UNIT 1001, ATLANTA, GA 30316

Signing Officer

Name
Karen Beavor
Title
President/CEO
Phone
6789163035
Signed
2025-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Beavor
Formed
2000
Legal Domicile
Ga
Voting Board Members
7
Independent Board Members
7
Employees
17
Volunteers
50

Preparer

Firm
Cri Advisors LLC
Address
4004 SUMMIT BLVD NE SUITE 800, ATLANTA, GA 30319
Preparer
Pamela D Hardister CPA
Phone
7703948000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Under section 501(c)(3) of the internal revenue code, the center is exempt from taxes on income other than unrelated business income. The center is subject to income taxes on unrelated business income from advertising. Due to immaterial amounts, the deferred income tax benefit of the loss carryforward for the center has not been recorded. Nrc is subject to income taxes on profits from operations. At december 31, 2024 and 2023, nrc had federal income tax net nol carryforwards of $258,776 and $258,073, respectively. State nol carryforwards are similar to federal amounts for each year. The deferred income tax benefit of the loss carryforward for nrc has not been recorded, as the likelihood of realizing any income tax benefit from the utilization of this loss carryforward has not been established. The organizations utilize the accounting requirements associated with uncertainty in income taxes using the provisions of financial accounting standards board (fasb) asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of december 31, 2024 and 2023, the organizations have no uncertain tax positions that qualify for recognition or disclosure in the consolidated financial statements.

Raw XML AppendixShowing 400 of 571 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/ActivityOrMissionDesc0OUR MISSION IS TO CREATE THRIVING COMMUNITIES BY HELPING NONPROFITS SUCCEED. OUR WORK REVOLVES AROUND FOUR PRIMARY AREAS OF FOCUS.1. WE ARE A HUB FOR SOCIAL INNOVATION 2. WE ARE A CAPACITY ACCELERATOR FOR ORGANIZATIONS AND THEIR PEOPLE3. WE ARE GEORGIA'S LARGEST ASSOCIATION OF NONPROFITS AND ITS INDUSTRY CHAMPION. 4. WE ARE AN INFLUENTIAL CONVENOR OF CHANGEMAKERS
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IRS990/Desc0LEARNING & DEVELOPMENT: IN 2024, GCN SERVED 5842 PARTICIPANTS THROUGH OUR LEARNING AND DEVELOPMENT PROGRAMMING DELIVERED IN NONPROFIT UNIVERSITY, A COMPREHENSIVE EXECUTIVE EDUCATION CENTER SPECIFIC TO NONPROFIT MANAGEMENT AND LEADERSHIP, AND ITS INTEGRATED OFFERINGS WITHIN OTHER GCN PROGRAMS. IN 2024, GCN DELIVERED MANAGEMENT AND LEADERSHIP ACCELERATORS COMPRISED OF 30 MODULES DESIGNED TO PROVIDE EXPERIENTIAL LEARNING, PRACTICAL TOOLS, AND A PEER-TO-PEER NETWORK SUPPORTING SKILL PROGRESSION TO 165 PARTICIPANTS. A KEY FOCUS OF THE LEARNING AND DEVELOPMENT PROGRAMMING IS TO PROVIDE CAREER PROGRESSION OPPORTUNITIES TO THOSE NONPROFIT PROFESSIONALS WHO ARE HISTORICALLY UNDERINVESTED IN BY SUBSIDIZING THE FULL COST OF EVERY TRAINING PROGRAM WITH DEVELOPMENT REVENUE AND BY RAISING SCHOLARSHIP FUNDING TO SUPPORT PARTICIPATION AND ACCESS. IN 2024 GCN PROVIDED 530 FULL SCHOLARSHIPS. GCN ALSO DELIVERED FREE L&D PROGRAMMING TO OVER 1000 INDIVIDUALS IN 2024.
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IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR OF MARKETING
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR OF CONSULTING
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IRS990/MissionDesc0OUR MISSION IS TO CREATE THRIVING COMMUNITIES BY HELPING NONPROFITS SUCCEED. OUR WORK REVOLVES AROUND FOUR PRIMARY AREAS OF FOCUS.1. WE ARE A HUB FOR SOCIAL INNOVATION 2. WE ARE A CAPACITY ACCELERATOR FOR ORGANIZATIONS AND THEIR PEOPLE3. WE ARE GEORGIA'S LARGEST ASSOCIATION OF NONPROFITS AND ITS INDUSTRY CHAMPION. 4. WE ARE AN INFLUENTIAL CONVENOR OF CHANGEMAKERS
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IRS990/ProgSrvcAccomActy2Grp/Desc0GCN'S NONPROFIT CONSULTING GROUP FOCUSES ON STRATEGY, REVENUE GENERATION, GOVERNANCE AND LEADERSHIP, CHANGE AND GROWTH INITIATIVES, AND WORKFORCE ISSUES SPECIFIC TO IMPROVING NONPROFIT EFFECTIVENESS AND SUCCESS. IN ADDITION TO INDIVIDUALIZED CONSULTING ENGAGEMENTS IN THESE AREAS OF FOCUS, IN 2024, GCN SERVED 119 ORGANIZATIONS IN OUR SUCCESS FOUNDATIONS COHORT CONSULTING PROGRAM. GCN ALSO COMPLETED THE EXPANSION OF THE COHORT CONSULTING PRACTICE WITH THE COMPLETION OF A NEW REVENUE STRATEGY COHORT.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0524992
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0631843
IRS990/ProgSrvcAccomActy3Grp/Desc0INFORMATION, TOOLS & RESOURCES: IN 2024, GCN COMPLETED FOUR ADDITIONAL DIGITAL RESOURCE HUBS AND A MAJOR RESEARCH PROJECT ON TRENDS IMPACTING GEORGIA'S NONPROFIT SECTOR. GCN'S DIGITAL RESOURCES WERE ACCESSED OVER 300,000 TIMES. GCN PROVIDES MANY SUPPORT SERVICES THROUGH A DIGITAL KNOWLEDGE BASE, PUBLICATIONS, INTERACTIVE TOOLS, AND CONTENT PRODUCTION RELATED TO CAPACITY TOPICS AND SECTOR-RELATED TRENDS AND POLICY. IN ADDITION TO GENERAL DISTRIBUTION, THESE RESOURCES ARE MADE AVAILABLE THROUGH FOCUSED EFFORTS LIKE GAGIVES.ORG, WORKFORGOOD.ORG, GA NONPROFIT NEWS, INFORMATIONAL EVENTS, A BOARD/STAFF HELPLINE, AND GCN.ORG THAT SUPPORT NONPROFITS MANAGEMENT CAPACITY, FUNDRAISING, AND TALENT NEEDS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0296661
IRS990/ProgSrvcAccomActyOtherGrp/Desc0WORK FOR GOOD: GCN'S NATIONAL NONPROFIT JOB BOARD, WORKFORGOOD.ORG, IS OUR ONLINE HUB FOR NON-PROFIT EMPLOYMENT CONNECTION AND HR SUPPORT. THIS REVENUE-GENERATING SOCIAL ENTERPRISE CONTINUES TO SERVE AS AN INDISPENSABLE RESOURCE FOR NONPROFIT HR PROFESSIONALS AND ALSO ACTS AS A CAREER DEVELOPMENT CENTER BY PROVIDING A PLATFORM FOR OUTREACH, COMPENSATION AND BENEFITS RESEARCH, AND HR SUPPORT ON A NATIONAL SCALE. ADVOCACY: GCN ADVOCATES FOR THE LARGER SECTOR AT THE LOCAL, STATE, AND FEDERAL LEVELS. THROUGH GCN'S ONGOING ADVOCACY AND EDUCATION EFFORTS, WE INFORMED MEMBERS ABOUT COMMUNITY ISSUES IMPORTANT TO THE SECTOR, AND LEGISLATIVE ACTIONS AFFECTING THE SECTOR, OUR CAUSES, AND STAKEHOLDERS. GAGIVES ON #GIVINGTUESDAY: THIS UNIQUE STATEWIDE ONLINE GIVING INITIATIVE RAISES FUNDS TO SUPPORT THOUSANDS OF GEORGIA NONPROFITS AND ENGAGE CITIZENS IN A MULTI-MEDIA AWARENESS CAMPAIGN ABOUT GA NONPROFITS. SUPPORTED BY A MULTI- SECTOR COALITION THAT SPANS THE MEDIA, CORPORATE, FOUNDATION, GOVERNMENT, AND NONPROFIT COMMUNITIES, THE PIONEERING GAGIVES.ORG PLATFORM PROVIDES A FREE YEAR-ROUND GIVING TOOL FOR ALL GEORGIA NONPROFITS, SUPPORTED BY TOOLS AND TRAINING TO HELP THEM LEVERAGE ONLINE TECHNOLOGIES AND SOCIAL MEDIA TO INCREASE FUNDRAISING CAPACITY. OUR MASS-MEDIA CAMPAIGN REACHED MILLIONS, CATALYZING AWARENESS OF THE WORK AND WORTH OF THE SECTOR WHILE INSPIRING FIRST-TIME GIVING.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE CENTER IS EXEMPT FROM TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. THE CENTER IS SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME FROM ADVERTISING. DUE TO IMMATERIAL AMOUNTS, THE DEFERRED INCOME TAX BENEFIT OF THE LOSS CARRYFORWARD FOR THE CENTER HAS NOT BEEN RECORDED. NRC IS SUBJECT TO INCOME TAXES ON PROFITS FROM OPERATIONS. AT DECEMBER 31, 2024 AND 2023, NRC HAD FEDERAL INCOME TAX NET NOL CARRYFORWARDS OF $258,776 AND $258,073, RESPECTIVELY. STATE NOL CARRYFORWARDS ARE SIMILAR TO FEDERAL AMOUNTS FOR EACH YEAR. THE DEFERRED INCOME TAX BENEFIT OF THE LOSS CARRYFORWARD FOR NRC HAS NOT BEEN RECORDED, AS THE LIKELIHOOD OF REALIZING ANY INCOME TAX BENEFIT FROM THE UTILIZATION OF THIS LOSS CARRYFORWARD HAS NOT BEEN ESTABLISHED. THE ORGANIZATIONS UTILIZE THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2024 AND 2023, THE ORGANIZATIONS HAVE NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS.

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