Dan River Business Development Center: Nonprofit Profile, Financials & Form 990 (EIN 54-1944252)

Revenue by fiscal year
FY2020	$917K
FY2021	$311K
FY2022	$544K
FY2023	$599K
FY2024	$297K
FY2025	$287K

Expenses by fiscal year
FY2020	$879K
FY2021	$279K
FY2022	$529K
FY2023	$580K
FY2024	$279K
FY2025	$297K

Net assets by fiscal year
FY2020	$411K
FY2021	$444K
FY2022	$475K
FY2023	$494K
FY2024	$512K
FY2025	$502K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2000.

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

Where the money goes

60 cents of each dollar spent went to programs.

60%

40%

Program services 60% · $178K Management & general 40% · $119K

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

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Albert K Rawley

Chairman

$0Pt VII · Sec A

Telly Tucker

Vice Chairman

$0Pt VII · Sec A

Otis Hawker

Treasurer

$0Pt VII · Sec A

Corrie Teague Bobe

Secretary

$0Pt VII · Sec A

Tim Chesher

Director

$0Pt VII · Sec A

Bryant Hood

Director

$0Pt VII · Sec A

Ken Larking

Director

$0Pt VII · Sec A

Matthew D Rowe

Director

$0Pt VII · Sec A

See Dan River Business Development Center 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

Helps entrepreneurs and new businesses grow through education and support.

Provided by the organization

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1 program · $178K · in their own filed words · FY2024

01

Provides educational opportunities to entrepeneurs and attracts, assists and encourages emerging services, technology and light manufacturing businesses to succeed in the local community.

$178Kprogram 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 · FY2023

Danville Regional FoundationFY2023$295K

Total grants receivedfrom 1 funder$295K

Grants paid · 4 grants · $1.1M · 2019–2022

Kegerreis Digital Marketing LLCFY2022$288,618

Kegerreis Digital Marketing LLCFY2021$225,882

Tyton Bioscineces CorporationFY2019$538,528

Irflex CorporationFY2019$71,367

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$287K

Ln 12

Fees for servicesLn 2g$236K

Gifts and grantsLn 1h$50K

Investment incomeLn 3$700

Money outPt IX

$297K

Ln 25

Programscol B$178K

Managementcol C$119K

Owns and owesPt X

$502K

net assets · Ln 32

Cash and savingsLn 1–2$316K

Total assetsLn 16$511K

LiabilitiesLn 26$9K

PeoplePt VI, VII

10

listed · VII A

PaidVII A0

Voting boardVI 1a10

IndependentVI 1b10

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$50K

Government grantsLn 1e$50K

Fees for servicesLn 2g$236K

Investment incomeLn 3$700

Other incomeLn 4–11$444

Total revenueLn 12$287K

Assets in detailPt X, end of year

CashLn 1$186K

SavingsLn 2$130K

Cash and savings togetherLn 1–2$316K

Land, buildings, equipmentLn 10c$189K

Total assetsLn 16$511K

LiabilitiesLn 26$9K

Net assetsLn 32$502K

OperationsPt I, VI

EmployeesI 53

VolunteersI 60

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$340K	$316K
Land, buildings, equipmentLn 10c	$178K	$189K
Total assetsLn 16	$521K	$511K
LiabilitiesLn 26	$9K	$9K
Net assetsLn 32	$512K	$502K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of disqualified personsLn 6	$129K	$77K	$52K
Payroll taxesLn 10	$10K	$6K	$4K
Accounting feesLn 11c	$7K	$3K	$3K
Office expensesLn 13	$9K	$6K	$4K
Information technologyLn 14	$25K	$15K	$10K
Depreciation, depletion and amortizationLn 22	$25K	$15K	$10K
InsuranceLn 23	$9K	$5K	$4K
Other expenses (24a–d)Ln 24	$80K	$48K	$32K
All other expensesLn 24e	$3K	$3K	$581
Total functional expensesLn 25	$297K	$178K	$119K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$287K	$297K	−$10K	$502K	990 PDF
FY2024	$297K	$279K	$18K	$512K	990 PDF
FY2023	$599K	$580K	$19K	$494K	990 PDF
FY2022	$544K	$529K	$15K	$475K	990 PDF
FY2021	$311K	$279K	$33K	$444K	990 PDF
FY2020	$917K	$879K	$38K	$411K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2025 990 (6 parts)

Part I · Summary $286,819 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $50,000$50,000

I-9 Program service revenuePrior year $245,731$235,675

I-10 Investment incomePrior year $266$700

I-11 Other revenuePrior year $987$444

I-12 Total revenuePrior year $296,984$286,819

I-13 Grants and similar amounts paidPrior year $0$0

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

I-15 Salaries and benefitsPrior year $133,774$138,801

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

I-17 Other expensesPrior year $145,124$158,050

I-18 Total expensesPrior year $278,898$296,851

I-19 Revenue less expensesPrior year $18,086−$10,032

Part VI · Governance 10 of 10 board members independent, no flags

VI-1a Voting members of the governing body10

VI-1b Independent voting members10

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

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

Part VIII · Statement of revenue $286,819 across 6 lines filed

VIII-1e Government grants$50,000

VIII-1h Total contributions, gifts and grants$50,000

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $235,675$235,675

VIII-3 Investment incomeRelated to mission $700$700

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $444$444

VIII-12 Total revenueRelated to mission $236,819 · Unrelated business $0 · Excluded from tax $0$286,819

Part IX · Statement of functional expenses $296,851 across 9 lines filed

IX-6 Pay of disqualified personsPrograms $77,362 · Management $51,575$128,937

IX-10 Payroll taxesPrograms $5,918 · Management $3,946$9,864

IX-11c Accounting feesPrograms $3,358 · Management $3,357$6,715

IX-13 Office expensesPrograms $5,565 · Management $3,708$9,273

IX-14 Information technologyPrograms $14,737 · Management $9,825$24,562

IX-22 Depreciation, depletion and amortizationPrograms $15,160 · Management $10,106$25,266

IX-23 InsurancePrograms $5,303 · Management $3,535$8,838

IX-24 Other expenses (24a–d)Programs $48,052 · Management $32,034$80,086

IX-24e All other expensesPrograms $2,729 · Management $581$3,310

IX-25 Total functional expensesPrograms $178,184 · Management $118,667 · Fundraising $0$296,851

Part X · Balance sheet $511,378 assets, 11 lines filed

X-1 Cash, non-interest-bearingStart of year $209,959$186,164

X-2 Savings and temporary cash investmentsStart of year $129,645$130,294

X-4 Accounts receivableStart of year $2,065$6,103

X-9 Prepaid expenses and deferred chargesStart of year $1,588$0

X-10c Land, buildings and equipment, netStart of year $177,983$188,817

X-16 Total assetsStart of year $521,240$511,378

X-25 Other liabilitiesStart of year $9,250$9,420

X-26 Total liabilitiesStart of year $9,250$9,420

X-27 Net assets without donor restrictionsStart of year $511,990$501,958

X-32 Total net assets or fund balancesStart of year $511,990$501,958

X-33 Total liabilities and net assetsStart of year $521,240$511,378

Part XI · Reconciliation of net assets $501,958 net assets at year end

XI-1 Total revenue$286,819

XI-2 Total expenses$296,851

XI-3 Revenue less expenses−$10,032

XI-4 Net assets at start of year$511,990

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$501,958

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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Dan River Business Development Center

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

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV