Civic Intelligence

Gaston Innovation Group Inc.

990 • Fiscal year 2018 • EIN 81-3076695

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

Organization Profilewww.techworksgaston.com
1212 Spruce StreetBelmont, NC 28012

(704) 604-4808

Siviq Scores

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

Liabilities / Assets

69th percentile

0.06x

Higher debt load relative to assets than 69% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Liabilities / Revenue

67th percentile

0.03x

Higher debt load relative to revenue than 67% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Net Margin

86th percentile

33%

Higher net margin than 86% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Top Officer Pay

98th percentile

$110,000

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 24.2% of source-year revenue.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Asset Growth

94th percentile

131%

Faster asset growth than 94% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

90th percentile

71%

Faster revenue growth than 90% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$283,789

Up $161,071 (+131%) from 2017

Net Assets

Up

$268,092

Up $148,704 (+125%) from 2017

Liabilities

Up

$15,697

Up $12,367 (+371%) from 2017

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin86th percentile

Revenue

Up

$454,580

Up $188,334 (+71%) from 2017

Expenses

Down

$305,876

Down $41,359 (-12%) from 2017

Net Income

Up

$148,704

Up $229,693 (+284%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$1.0M$500K$0-$500KAssets 2017: $122,718Liabilities 2017: $3,330Net Assets 2017: $119,3882017Assets 2018: $283,789Liabilities 2018: $15,697Net Assets 2018: $268,0922018Assets 2019: $508,590Liabilities 2019: $412,648Net Assets 2019: $95,9422019Assets 2020: $441,452Liabilities 2020: $551,092Net Assets 2020: -$109,6402020Assets 2021: $343,119Liabilities 2021: $699,085Net Assets 2021: -$355,9662021Assets 2022: $287,294Liabilities 2022: $353,501Net Assets 2022: -$66,2072022Assets 2023: $251,808Liabilities 2023: $394,384Net Assets 2023: -$142,5762023Assets 2024: $284,254Liabilities 2024: $328,951Net Assets 2024: -$44,6972024

Highlighted filing

2018

Assets$283,789
Liabilities$15,697
Net Assets$268,092
Open 2018 Filing

Operations Trend

Revenue Growth90th percentile

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

$1.0M$500K$0-$500KRevenue 2017: $266,246Expenses 2017: $347,235Net Income 2017: -$80,9892017Revenue 2018: $454,580Expenses 2018: $305,876Net Income 2018: $148,7042018Revenue 2019: $236,561Expenses 2019: $408,711Net Income 2019: -$172,1502019Revenue 2020: $234,723Expenses 2020: $440,305Net Income 2020: -$205,5822020Revenue 2021: $240,786Expenses 2021: $487,572Net Income 2021: -$246,7862021Revenue 2022: $766,164Expenses 2022: $476,405Net Income 2022: $289,7592022Revenue 2023: $398,522Expenses 2023: $474,891Net Income 2023: -$76,3692023Revenue 2024: $559,860Expenses 2024: $461,981Net Income 2024: $97,8792024

Highlighted filing

2018

Revenue$454,580
Expenses$305,876
Net Income$148,704
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$454,580
Mission and Program Overview

Mission

Gaston Innnovation Group, Inc., was formed for the purpose of improving the socio-economic conditions for citizens of Gaston County, North Carolina, by stimulating job growth through digital inclusion, small business formation and entrepreneurship. The programs and services the organization will be developing and delivering are badly needed in Gaston County due to the challenging economic conditions in the County. Gaston County had the highest unemployment rate (by at least .5%) of all the NC counties contiguous to and including Mecklenburg County and the highest poverty rate among NC counties in that same region. Gaston Innovation Group addresses upward mobility for the low to moderate income population by expanding access to high speed internet, as well as specially-designed coding and other technology classes, a digital roadmap with digital literacy tools and training, and partnerships with local colleges and K-12 schools. Gaston Innovation Group will aid businesses that locate or r

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$73,817$160,756▲ $86,939
Cash and Non-Interest-Bearing Accounts$35,936$117,683▲ $81,747
Accounts Receivable$7,500$0▼ $7,500
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$122,718$283,789▲ $161,071
Other Assets Total$5,465$5,350▼ $115
Liabilities
Accounts Payable and Accrued Expenses$3,330$15,697▲ $12,367
Total Liabilities$3,330$15,697▲ $12,367
Net Assets / Fund Balance
Unrestricted Net Assets$119,388$268,092▲ $148,704
Total Net Assets Fund Balance$119,388$268,092▲ $148,704
Total Liabilities and Net Assets / Fund Balance$122,718$283,789▲ $161,071

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$120,380$13,280$133,660
Other Land Buildings$37,283$4,143$41,426
Equipment$3,093$907$4,000
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Terry CoxExecutive DirectorFT$110,000$110,000

Board Members and Trustees

NameTitle
Dr Stephen HannonChair
Charlie PeningerDirector
David JonesDirector
Marjorie BenbowDirector
Ted HallDirector
Nicole MurpheySecretary
Brad RiversTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$454,569
Program Service Revenue
$0
Investment Income
$11
Other Revenue
$0
All Other Contributions
$165,069
Change in Net Assets
$148,704
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$187,184
Salaries, Compensation, and Employee Benefits$118,692
Total Fundraising Expense$59,765
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy-$115,048-$115,048
Current Officers, Directors, Trustees, and Key Employees$27,500$27,500$55,000$110,000
Fees for Services Other-$23,071-$23,071
Depreciation Depletion-$18,223-$18,223
Advertising$11,520--$11,520
Payroll Taxes$2,173$2,173$4,346$8,692
Fees for Services Accounting-$3,450-$3,450
All Other Expenses$1,499$1,267$419$3,185
Fees for Services Legal-$2,452-$2,452
Office Expenses-$1,295-$1,295
Insurance-$951-$951
Travel-$911-$911
Other Expenses$892$1,075-$892
Interest-$161-$161
Total Functional Expenses$48,534$197,577$59,765$305,876
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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, Line 11B: Form 990 Review Process

“A copy of full 990 is provided to all board member via email before filling. The return is then reviewed by Executive Director and Accountant.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“We addesss any conflicts at each board meeting. Board members will recuse from voting if there is a conflict.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Reviewed other similar non-profit organization's compensation for CEO and ED. In our bylaws, Compensation must in all cases be reasonable and based on services actually rendered.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Made available for grantors and upon request.”

Filing and Contact Details

Filer

Filer Name
Gaston Innovation Group Inc
EIN
81-3076695
Phone
7046044808
Address
1212 Spruce Street, Belmont, NC 28012

Signing Officer

Name
Dr Stephen Hannon
Title
Chair
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terry Cox
Formed
2016
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
1
Volunteers
17

Preparer

Firm
C DeWitt Foard & Co PA CPAs
Address
817 E Morehead Street Ste 100, Charlotte, NC 28202-2767
Preparer
Terry W Lancaster
Phone
7043721515
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IRS990/Desc0IT Networking 101 Course in Partnership with Goodwill- 8 Week Course. 15 attended the course at no cost. Instructor was a volunteer. Those who successfully completed the course were able to sit for the Cisco CCENT Certification, which TechWorks paid for.The main area of focus is networking fundamentals pertaining to how IP based networks function. The goal for the class is it to prepare individuals for a career in the networking field. Several were hired as entry level networking engineers in early 2019. Three Part Strategy Matters Series in Jan, Mar, April-3 Market Analysis Priorities to Drive Profitability-Is a Commodity Mindset Killing Your Business-4 Critical Factors for Sustainable GrowthSeveral Educational events were provided throughout the year mostly in partnership with BIG, the Chambers, SBTDC, and GoogleThink Bigger, Grow Faster, and Build the Business of Your Dreams; Scaling a Company Successfully; Digital Transformation; Reach Your Customers online with Google; 2018 Investment Opportunities and New Tax ReformGaston Innovation Group will accelerate the advancement of entrepreneurship, innovation, and technology for job creation in Gaston County.
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IRS990/MissionDesc0Gaston Innnovation Group, Inc., was formed for the purpose of improving the socio-economic conditions for citizens of Gaston County, North Carolina, by stimulating job growth through digital inclusion, small business formation and entrepreneurship. The programs and services the organization will be developing and delivering are badly needed in Gaston County due to the challenging economic conditions in the County. Gaston County had the highest unemployment rate (by at least .5%) of all the NC counties contiguous to and including Mecklenburg County and the highest poverty rate among NC counties in that same region. Gaston Innovation Group addresses upward mobility for the low to moderate income population by expanding access to high speed internet, as well as specially-designed coding and other technology classes, a digital roadmap with digital literacy tools and training, and partnerships with local colleges and K-12 schools. Gaston Innovation Group will aid businesses that locate or r
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IRS990/OtherExpensesGrp/ProgramServicesAmt03250
IRS990/OtherExpensesGrp/ProgramServicesAmt11700
IRS990/OtherExpensesGrp/ProgramServicesAmt2892
IRS990/OtherExpensesGrp/TotalAmt03250
IRS990/OtherExpensesGrp/TotalAmt11700
IRS990/OtherExpensesGrp/TotalAmt21075
IRS990/OtherExpensesGrp/TotalAmt3892
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02173
IRS990/PayrollTaxesGrp/ProgramServicesAmt02173
IRS990/PayrollTaxesGrp/TotalAmt08692
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Terry Cox
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IRS990/PYContributionsGrantsAmt0265970
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IRS990/PYInvestmentIncomeAmt0276
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IRS990/PYRevenuesLessExpensesAmt0-80989
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IRS990/PYTotalExpensesAmt0347235
IRS990/PYTotalRevenueAmt0266246
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0148704
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0454569
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0265970
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0331950
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01052489
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt011
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0276
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0717
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01004
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
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IRS990ScheduleA/PublicSupportTotal170Amt0924629
IRS990ScheduleA/SubstantialContributorsTotAmt0127860
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0454569
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0265970
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0331950
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01052489
IRS990ScheduleA/TotalSupportAmt01053493
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt03093
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0907
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0120380
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt013280
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0133660
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt037283
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04143
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt041426
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0160756
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of full 990 is provided to all board member via email before filling. The return is then reviewed by Executive Director and Accountant.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1We addesss any conflicts at each board meeting. Board members will recuse from voting if there is a conflict.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Reviewed other similar non-profit organization's compensation for CEO and ED. In our bylaws, Compensation must in all cases be reasonable and based on services actually rendered.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Made available for grantors and upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalAssetsEOYAmt0283789
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IRS990/TotalAssetsGrp/EOYAmt0283789
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0454569
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt059765
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0197577
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt048534
IRS990/TotalFunctionalExpensesGrp/TotalAmt0305876
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03330
IRS990/TotalLiabilitiesEOYAmt015697
IRS990/TotalLiabilitiesGrp/BOYAmt03330
IRS990/TotalLiabilitiesGrp/EOYAmt015697
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0119388
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0268092
IRS990/TotalProgramServiceExpensesAmt048534
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt0110000
IRS990/TotalRevenueGrp/ExclusionAmt011
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0454580
IRS990/TotalVolunteersCnt017
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0122718
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0283789
IRS990/TravelGrp/ManagementAndGeneralAmt0911
IRS990/TravelGrp/TotalAmt0911
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0119388
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0268092
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01212 Spruce Street 203
IRS990/USAddress/CityNm0Belmont
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028012
IRS990/VotingMembersGoverningBodyCnt06
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IRS990/WebsiteAddressTxt0www.techworksgaston.com
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-03-31 21:24:44Z

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$283,789
Liabilities
$15,697
Net assets
$268,092
Revenue
$454,580
Expenses
$305,876
Net income
$148,704
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.84$3.29$0.45$5.60$4.62$0.98
2023Detailed filing. Detailed filing data is available for this year.$2.52$3.94$1.43$3.99$4.75$0.76
2022Detailed filing. Detailed filing data is available for this year.$2.87$3.54$0.66$7.66$4.76$2.90
2021Detailed filing. Detailed filing data is available for this year.$3.43$6.99$3.56$2.41$4.88$2.47
2020Detailed filing. Detailed filing data is available for this year.$4.41$5.51$1.10$2.35$4.40$2.06
2019Detailed filing. Detailed filing data is available for this year.$5.09$4.13$0.96$2.37$4.09$1.72
2018Detailed filing. Detailed filing data is available for this year.$2.84$0.16$2.68$4.55$3.06$1.49
2017Summary only. Only limited summary data is available for this year.$1.23$0.03$1.19$2.66$3.47$0.81