Henderson County Partnership Foreconomic Development INC FY2023 filing

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The Henderson County Partnership for economic Development is the professional economic Development entity for Henderson County. IT works to: attract and retain quality jobs, solicit new business compatible with the assets and values of Henderson County.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$133K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $7K a year · 1% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$133K
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
8 mo
of spending, in cash
Looks good: 8.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$674K
+24% vs prior year
Spent
$674K
To programs
0%
Net assets
$465K
By yearFY2020–FY2025
Revenue
$674K
FY2023▲ +24%
Tap a bar for its year
Revenue by fiscal year
FY2020$530K
FY2021$553K
FY2022$546K
FY2023$674K
FY2024$720K
FY2025$769K
Expenses
$674K
FY2023▲ +29%
Tap a bar for its year
Expenses by fiscal year
FY2020$510K
FY2021$543K
FY2022$524K
FY2023$674K
FY2024$702K
FY2025$798K
Net assets
$465K
FY2023+0.2%
Tap a bar for its year
Net assets by fiscal year
FY2020$432K
FY2021$442K
FY2022$464K
FY2023$465K
FY2024$483K
FY2025$453K

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2006.

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

Who runs it and what they're paid

18 people listed on the 990; $133K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President &
$132,825Pt VII · Sec A
$0Pt VII · Sec A
Chair Elect
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Past Chair
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Brittany Brady’s $165K as President & is at the 93rd percentile of top reported officer pay among 1708 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Brittany Brady$164,726$183,849$132,825$130,500$120,100$110,100

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Henderson County Partnership Foreconomic Development INC executive salaries →

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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 15aYes

Programs and updates

Boosts Henderson County's economy through development initiatives.

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1 program · in their own filed words · FY2022
01

To engage in activities that support economic development and community development in henderson county, north carolina, thereby lessening the burdens of local governments and state government in their efforts to promote the public purposes of creating jobs, increasing the tax base, and improving the quality of life in henderson county.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$674K
Ln 12
Gifts and grantsLn 1h$499K
Fees for servicesLn 2g$169K
Investment incomeLn 3$6K
Money outPt IX
$674K
Ln 25
Owns and owesPt X
$465K
net assets · Ln 32
Cash and savingsLn 1–2$447K
Total assetsLn 16$465K
LiabilitiesLn 26$0
PeoplePt VI, VII
18
listed · VII A
PaidVII A1
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$499K
Government grantsLn 1e$489K
Fees for servicesLn 2g$169K
Investment incomeLn 3$6K
Other incomeLn 4–11$800
Total revenueLn 12$674K
Assets in detailPt X, end of year
CashLn 1$10K
SavingsLn 2$437K
Cash and savings togetherLn 1–2$447K
Land, buildings, equipmentLn 10c$18K
Total assetsLn 16$465K
LiabilitiesLn 26$0
Net assetsLn 32$465K
OperationsPt I, VI
EmployeesI 54
VolunteersI 620
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$453K$447K
Land, buildings, equipmentLn 10c$11K$18K
Total assetsLn 16$464K$465K
LiabilitiesLn 26$0$0
Net assetsLn 32$464K$465K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$138K
Other salaries and wagesLn 7$199K
Other employee benefitsLn 9$41K
Payroll taxesLn 10$26K
Accounting feesLn 11c$18K
Advertising and promotionLn 12$89K
Office expensesLn 13$10K
Information technologyLn 14$7K
OccupancyLn 16$32K
TravelLn 17$27K
Conferences, conventions and meetingsLn 19$38K
Depreciation, depletion and amortizationLn 22$2K
InsuranceLn 23$6K
Other expenses (24a–d)Ln 24$39K
All other expensesLn 24e$2K
Total functional expensesLn 25$674K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $769K$798K−$29K$453K 990 PDF
FY2024 $720K$702K$18K$483K 990 PDF
FY2023 Viewing $674K$674K$747$465K 990 PDF
FY2022 $546K$524K$22K$464K 990 PDF
FY2021 $553K$543K$10K$442K 990 PDF
FY2020 $530K$510K$20K$432K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $674,412 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $435,800$498,860
I-9 Program service revenuePrior year $108,833$168,950
I-10 Investment incomePrior year $294$5,802
I-11 Other revenuePrior year $750$800
I-12 Total revenuePrior year $545,677$674,412
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $316,031$403,848
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $207,905$269,817
I-18 Total expensesPrior year $523,936$673,665
I-19 Revenue less expensesPrior year $21,741$747
Part VI · Governance 19 of 19 board members independent, 2 to look at
VI-1a Voting members of the governing body19
VI-1b Independent voting members19
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $674,412 across 7 lines filed
VIII-1e Government grants$489,000
VIII-1f All other contributions, gifts and grants$9,860
VIII-1h Total contributions, gifts and grants$498,860
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $168,950$168,950
VIII-3 Investment incomeExcluded from tax $5,802$5,802
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $800$800
VIII-12 Total revenueRelated to mission $169,750 · Excluded from tax $5,802$674,412
Part IX · Statement of functional expenses $673,665 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$138,199
IX-7 Other salaries and wages$198,515
IX-9 Other employee benefits$40,669
IX-10 Payroll taxes$26,465
IX-11c Accounting fees$17,636
IX-12 Advertising and promotion$89,268
IX-13 Office expenses$9,967
IX-14 Information technology$7,029
IX-16 Occupancy$32,055
IX-17 Travel$26,690
IX-19 Conferences, conventions and meetings$38,284
IX-22 Depreciation, depletion and amortization$1,882
IX-23 Insurance$6,144
IX-24 Other expenses (24a–d)$38,702
IX-24e All other expenses$2,160
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$673,665
Part X · Balance sheet $464,786 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $4,834$10,306
X-2 Savings and temporary cash investmentsStart of year $447,955$436,736
X-10c Land, buildings and equipment, netStart of year $11,250$17,744
X-16 Total assetsStart of year $464,039$464,786
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $464,039$464,786
X-33 Total liabilities and net assetsStart of year $464,039$464,786
Part XI · Reconciliation of net assets $464,786 net assets at year end
XI-1 Total revenue$674,412
XI-2 Total expenses$673,665
XI-3 Revenue less expenses$747
XI-4 Net assets at start of year$464,039
XI-10 Net assets at end of year$464,786

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

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