Alexander County Economic Development: FY2023 Nonprofit Profile & Form 990 (EIN 20-4238865)

Revenue by fiscal year
FY2021	$144K
FY2022	$260K
FY2023	$1.3M
FY2024	$158K
FY2025	$53K

Expenses by fiscal year
FY2021	$234K
FY2022	$273K
FY2023	$202K
FY2024	$2.4M
FY2025	$108K

Net assets by fiscal year
FY2021	$1.1M
FY2022	$1.1M
FY2023	$2.3M
FY2024	$54K
FY2025	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

83%

17%

Program services 83% · $168K Management & general 17% · $33K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation

Rod Watts

Chairman/Treasurer

$0Pt VII · Sec A

Tim Little

Vice Chairman

$0Pt VII · Sec A

David Icenhour

Secretary/Executive Direct

$0Pt VII · Sec A

Andrew Jackson

Board Member

$0Pt VII · Sec A

Del Starnes

Board Member

$0Pt VII · Sec A

Ryan Mayberry

Board Member

$0Pt VII · Sec A

Shane Fox

Board Member

$0Pt VII · Sec A

See Alexander County Economic Development executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Boosts jobs and quality of life through economic development in Alexander County.

Questions for Alexander County Economic Development

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1 program · $168K · in their own filed words · FY2022

01

Provided industrial grants to local businesses to help create new jobs for Alexander County

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 20-4238865) · Dispute this line

$168Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

American Online Giving Foundation INCFY2024$50K

Total grants receivedfrom 1 funder$50K

Grants paid · 13 grants · $553K · 2020–2023

Paragon Films INCFY2023$53,471

Individual RecipientFY2023$53,409

Individual RecipientFY2023$8,127

Paragon Films INCFY2022$67,450

Individual RecipientFY2022$62,341

Individual RecipientFY2022$8,048

Paragon Films INCFY2021$66,606

Individual RecipientFY2021$60,209

Individual RecipientFY2021$8,177

Individual RecipientFY2020$86,662

Paragon Films INCFY2020$66,390

Brushy Mountain Golf Course LLCFY2020$7,845

Schneider Mills INCFY2020$3,862

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$1.3M

Ln 12

Gifts and grantsLn 1h$1.3M

Other incomeLn 4–11$8K

Investment incomeLn 3$1K

Money outPt IX

$202K

Ln 25

Programscol B$168K

Managementcol C$33K

Owns and owesPt X

$2.3M

net assets · Ln 32

Cash and savingsLn 1–2$341K

Total assetsLn 16$2.4M

LiabilitiesLn 26$144K

PeoplePt VI, VII

7

listed · VII A

PaidVII A0

Voting boardVI 1a7

IndependentVI 1b6

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.3M

Government grantsLn 1e$200K

Investment incomeLn 3$1K

Other incomeLn 4–11$8K

Total revenueLn 12$1.3M

Assets in detailPt X, end of year

CashLn 1$329K

SavingsLn 2$12K

Cash and savings togetherLn 1–2$341K

Accounts receivableLn 4$495

Land, buildings, equipmentLn 10c$2.1M

Total assetsLn 16$2.4M

LiabilitiesLn 26$144K

Net assetsLn 32$2.3M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$480K	$341K
Land, buildings, equipmentLn 10c	$630K	$2.1M
Total assetsLn 16	$1.1M	$2.4M
LiabilitiesLn 26	$17K	$144K
Net assetsLn 32	$1.1M	$2.3M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$144K	$144K
Management feesLn 11a	$14K		$14K
Advertising and promotionLn 12	$3K	$3K
Office expensesLn 13	$287		$287
OccupancyLn 16	$7K		$7K
TravelLn 17	$561		$561
Depreciation, depletion and amortizationLn 22	$10K		$10K
Other expenses (24a–d)Ln 24	$22K	$21K	$1K
All other expensesLn 24e	$806	$516	$290
Total functional expensesLn 25	$202K	$168K	$33K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 LatestFiled with the IRS Sep 9, 2025	$53K	$108K	−$54K	$0	990 PDF
FY2024Filed with the IRS Oct 28, 2024	$158K	$2.4M	−$2.2M	$54K	990 PDF
FY2023 ViewingFiled with the IRS Nov 9, 2023	$1.3M	$202K	$1.1M	$2.3M	990 PDF
FY2022Filed with the IRS Sep 8, 2022	$260K	$273K	−$14K	$1.1M	990 PDF
FY2021Filed with the IRS Nov 11, 2021	$144K	$234K	−$90K	$1.1M	990 PDF

Schedules filed Part IV

I · Grants O · Explanations

See the full FY2023 990

Part I · Summary $1,348,490 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $250,000$1,339,412

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $1,623$1,078

I-11 Other revenuePrior year $8,000$8,000

I-12 Total revenuePrior year $259,623$1,348,490

I-13 Grants and similar amounts paidPrior year $163,108$144,346

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $110,028$57,410

I-18 Total expensesPrior year $273,136$201,756

I-19 Revenue less expensesPrior year −$13,513$1,146,734

Part VI · Governance 6 of 7 board members independent, 4 to look at

VI-1a Voting members of the governing body7

VI-1b Independent voting members6

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $1,348,490 across 6 lines filed

VIII-1e Government grants$200,000

VIII-1f All other contributions, gifts and grants$1,139,412

VIII-1h Total contributions, gifts and grants$1,339,412

VIII-3 Investment incomeExcluded from tax $1,078$1,078

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $8,000$8,000

VIII-12 Total revenueRelated to mission $8,000 · Unrelated business $0 · Excluded from tax $1,078$1,348,490

Part IX · Statement of functional expenses $201,756 across 9 lines filed

IX-1 Grants to domestic organizationsPrograms $144,346$144,346

IX-11a Management feesManagement $13,740$13,740

IX-12 Advertising and promotionPrograms $2,589$2,589

IX-13 Office expensesManagement $287$287

IX-16 OccupancyManagement $7,140$7,140

IX-17 TravelManagement $561$561

IX-22 Depreciation, depletion and amortizationManagement $9,958$9,958

IX-24 Other expenses (24a–d)Programs $20,933 · Management $1,396$22,329

IX-24e All other expensesPrograms $516 · Management $290$806

IX-25 Total functional expensesPrograms $168,384 · Management $33,372 · Fundraising $0$201,756

Part X · Balance sheet $2,444,020 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $184,230$329,328

X-2 Savings and temporary cash investmentsStart of year $295,953$12,031

X-4 Accounts receivableStart of year $164$495

X-9 Prepaid expenses and deferred chargesStart of year $50$0

X-10c Land, buildings and equipment, netStart of year $629,874$2,102,166

X-16 Total assetsStart of year $1,110,271$2,444,020

X-17 Accounts payable and accrued expensesStart of year $17,486$144,172

X-26 Total liabilitiesStart of year $17,486$144,172

X-27 Net assets without donor restrictionsStart of year $956,343$2,163,406

X-28 Net assets with donor restrictionsStart of year $136,442$136,442

X-32 Total net assets or fund balancesStart of year $1,092,785$2,299,848

X-33 Total liabilities and net assetsStart of year $1,110,271$2,444,020

Part XI · Reconciliation of net assets $2,299,848 net assets at year end

XI-1 Total revenue$1,348,490

XI-2 Total expenses$201,756

XI-3 Revenue less expenses$1,146,734

XI-4 Net assets at start of year$1,092,785

XI-8 Prior period adjustments$60,329

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$2,299,848

Form 990 e-file FY2023 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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Alexander County Economic Development FY2023 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Alexander County Economic Development

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV

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