Civic Intelligence

Rutherford County Economic Development Association

990 • Fiscal year 2024 • EIN 81-5406671

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 13, 2024

Organization Profile
142 E Main StForest City, NC 28043

(828) 287-6200

Siviq Scores

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

Liabilities / Assets

46th percentile

0.03x

Higher debt load relative to assets than 46% of similar nonprofits.

2024 filings • NTEE S41 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

70th percentile

0.16x

Higher debt load relative to revenue than 70% of similar nonprofits.

2024 filings • NTEE S41 • $500k-$1M nonprofits • Source year 2024

Net Margin

99th percentile

77%

Higher net margin than 99% of similar nonprofits.

2024 filings • NTEE S41 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2024 filings • NTEE S41 • $500k-$1M nonprofits • Source year 2024

Asset Growth

80th percentile

18%

Faster asset growth than 80% of similar nonprofits.

2024 filings • NTEE S41 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

94th percentile

68%

Faster revenue growth than 94% of similar nonprofits.

2024 filings • NTEE S41 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$771,022

Up $117,997 (+18%) from 2023

Net Assets

Up

$751,022

Up $97,997 (+15%) from 2023

Liabilities

Up

$20,000

Up $20,000 from 2023

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin99th percentile

Revenue

Up

$126,875

Up $51,573 (+68%) from 2023

Expenses

Down

$28,878

Down $3,778 (-12%) from 2023

Net Income

Up

$97,997

Up $55,351 (+130%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$1.0M$500K$0Assets 2018: $149,816Liabilities 2018: $4,436Net Assets 2018: $145,3802018Assets 2019: $278,243Liabilities 2019: $11,507Net Assets 2019: $266,7362019Assets 2020: $429,366Liabilities 2020: $0Net Assets 2020: $429,3662020Assets 2021: $509,238Liabilities 2021: $0Net Assets 2021: $509,2382021Assets 2022: $617,279Liabilities 2022: $6,900Net Assets 2022: $610,3792022Assets 2023: $653,025Liabilities 2023: $0Net Assets 2023: $653,0252023Assets 2024: $771,022Liabilities 2024: $20,000Net Assets 2024: $751,0222024Assets 2025: $852,333Liabilities 2025: $10,875Net Assets 2025: $841,4582025

Highlighted filing

2024

Assets$771,022
Liabilities$20,000
Net Assets$751,022
Open 2024 Filing

Operations Trend

Revenue Growth94th percentile

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

$400K$300K$200K$100K$0Revenue 2018: $315,280Expenses 2018: $169,900Net Income 2018: $145,3802018Revenue 2019: $295,688Expenses 2019: $174,332Net Income 2019: $121,3562019Revenue 2020: $201,947Expenses 2020: $39,317Net Income 2020: $162,6302020Revenue 2021: $156,338Expenses 2021: $76,466Net Income 2021: $79,8722021Revenue 2022: $131,037Expenses 2022: $29,896Net Income 2022: $101,1412022Revenue 2023: $75,302Expenses 2023: $32,656Net Income 2023: $42,6462023Revenue 2024: $126,875Expenses 2024: $28,878Net Income 2024: $97,9972024Revenue 2025: $128,547Expenses 2025: $38,111Net Income 2025: $90,4362025

Highlighted filing

2024

Revenue$126,875
Expenses$28,878
Net Income$97,997
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 13, 2024
Return Version
2023v5.0
Gross Receipts
$126,875
Mission and Program Overview

Mission

To cultivate economic development opportunities for rutherford county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$649,888$766,553▲ $116,665
Prepaid Expenses and Deferred Charges$3,137$4,469▲ $1,332
Total Assets$653,025$771,022▲ $117,997
Liabilities
Deferred Revenue-$20,000-
Total Liabilities$0$20,000▲ $20,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$653,025$751,022▲ $97,997
Total Net Assets Fund Balance$653,025$751,022▲ $97,997
Total Liabilities and Net Assets / Fund Balance$653,025$771,022▲ $117,997
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Maria HunnicuttChairman
Terry HinesVice Chairma
Birgit DilgertDirector
Andy CobbMember
Bryan KingMember
Clark PooleMember
David SuttonMember
Mickey BlandMember
Mike GavinMember
Mike WalkerMember
Steve GarrisonMember
Thad HarrillMember
David EakerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$126,875
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,500
Change in Net Assets
$97,997

Audited Revenue Reconciliation

Revenue per Audited Statements
$126,875
Revenue Not Reported on Form 990
$2,721
Total Revenue per Audited Statements
$129,596
Total Revenue per Form 990
$126,875
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$28,878
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
Occupancy$14,400--$14,400
Fees for Services Accounting$8,700--$8,700
Insurance$4,226--$4,226
Other Expenses$52--$52
Total Functional Expenses$28,878$0$0$28,878

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$122,375
Expenses Not Reported on Form 990$93,497
Expenses per Audited Statements$28,878
Total Expenses per Form 990$28,878
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The organization's board will review the form 990. The release of the 990 for filing is approved by the director or designated person on the board.”

Form 990, Page 6, Part VI, Line 19

“These documents are avaible upon request.”

Form 990, Part VII

“The organization's director and staff are employees of rutherford county nc. There are no compensation costs included within the tax return due to this reason.”

Filing and Contact Details

Filer

Filer Name
Rutherford County Economic
EIN
81-5406671
Phone
8282876200
Address
142 E MAIN ST, FOREST CITY, NC 28043

Signing Officer

Name
Birgit Dilgert
Title
Director
Phone
8282876200
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Birgit Dilgert
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Gould Killian CPA Group Pa
Address
100 COXE AVE, ASHEVILLE, NC 28801-2354
Preparer
Dan Mullinix CPA
Phone
8282580363
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Consolidation of rutherford county edc (deemed non-sister) 2,721”

Schedule D, Page 4, Part XII, Line 2D

“Consolidation of rutherford county edc (deemed non-sister) 93,497”

Raw XML Appendix328 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CONSOLIDATION OF RUTHERFORD COUNTY EDC (DEEMED NON-SISTER) 2,721
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CONSOLIDATION OF RUTHERFORD COUNTY EDC (DEEMED NON-SISTER) 93,497
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S BOARD WILL REVIEW THE FORM 990. THE RELEASE OF THE 990 FOR FILING IS APPROVED BY THE DIRECTOR OR DESIGNATED PERSON ON THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THESE DOCUMENTS ARE AVAIBLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S DIRECTOR AND STAFF ARE EMPLOYEES OF RUTHERFORD COUNTY NC. THERE ARE NO COMPENSATION COSTS INCLUDED WITHIN THE TAX RETURN DUE TO THIS REASON.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VII
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0653025
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0771022
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0142 EAST MAIN ST STE 100
IRS990/USAddress/CityNm0FOREST CITY
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028043
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BIRGIT DILGERT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08282876200
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RUTHERFORD COUNTY ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0RUTH
ReturnHeader/Filer/EIN0815406671
ReturnHeader/Filer/PhoneNum08282876200
ReturnHeader/Filer/USAddress/AddressLine1Txt0142 E MAIN ST
ReturnHeader/Filer/USAddress/CityNm0FOREST CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028043
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561042836
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GOULD KILLIAN CPA GROUP PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 COXE AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ASHEVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0288012354
ReturnHeader/PreparerPersonGrp/PhoneNum08282580363
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAN MULLINIX CPA
ReturnHeader/ReturnTs02024-11-13T15:40:11-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$771,022
Liabilities
$20,000
Net assets
$751,022
Revenue
$126,875
Expenses
$28,878
Net income
$97,997
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.52$0.11$8.41$1.29$0.38$0.90
2024Detailed filing. Detailed filing data is available for this year.$7.71$0.20$7.51$1.27$0.29$0.98
2023Detailed filing. Detailed filing data is available for this year.$6.53$0.00$6.53$0.75$0.33$0.43
2022Detailed filing. Detailed filing data is available for this year.$6.17$0.07$6.10$1.31$0.30$1.01
2021Detailed filing. Detailed filing data is available for this year.$5.09$0.00$5.09$1.56$0.76$0.80
2020Detailed filing. Detailed filing data is available for this year.$4.29$0.00$4.29$2.02$0.39$1.63
2019Detailed filing. Detailed filing data is available for this year.$2.78$0.12$2.67$2.96$1.74$1.21
2018Detailed filing. Detailed filing data is available for this year.$1.50$0.04$1.45$3.15$1.70$1.45