Tri-County Industries INC

Tax-deductible

Rocky Mt, NC501(c)(3)EIN 56-0859662Revenue $3.9M in FY2025

On file with the IRStciworks.com1250 Atlantic Ave, 27801-2710 · Rocky Mt, NCTax-exempt since Jan 1967Publicly supported — 509(a)(2)

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Tci is dedicated to enhancing the lives of people who are disabled or disadvantaged through work assessment, job training, and job placement.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$101K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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 5
filings with a surplus
Average surplus $682K a year · 19% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$101K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $3K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$858K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.9M
-20% vs prior year
Spent
$3.5M
To programs
74%
Net assets
$6.7M
By yearFY2021–FY2025
Revenue
$3.9M
FY2025▼ -20%
Tap a bar for its year
Revenue by fiscal year
FY2021$3.8M
FY2022$2.7M
FY2023$2.8M
FY2024$4.9M
FY2025$3.9M
Expenses
$3.5M
FY2025▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2021$2.9M
FY2022$2.3M
FY2023$2.7M
FY2024$3.3M
FY2025$3.5M
Net assets
$6.7M
FY2025▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2021$3.9M
FY2022$3.7M
FY2023$3.9M
FY2024$5.9M
FY2025$6.7M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1967.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $2.6M Management & general 26% · $887K

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

4 people listed on the 990; $101K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$101,250Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Margaret Sharpe$101,250$73,065$73,257$74,409$10,096
Brenda Cogdell————$90,984
Michael Britt———$48,517$45,757
Jeanna Bryan——$38,249——
Joey Ams————$36,629

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.

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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

Provides work assessment, job training, and placement to improve lives for people with disabilities or disadvantages.

Provided by the organization

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2 programs · $2.6M · in their own filed words · FY2024
01

Adult development and voactional program (ADVP)/COMMUNITY living facilities and support (CLFS) serves individuals with signiciant developmental disabilities. This is a long term program that provides work training, compensatory education, volunteer oppotunities and senior services.

$1.4Mprogram expense
02

Production acitivites provide work training, including assembly, inpsection, material handling and housekeeping to persons with disabilities and disadvantages. Clients perform work for area industries.

$1.2Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$3K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$3.9M
Ln 12
Gifts and grantsLn 1h$2.5M
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$84K
Money outPt IX
$3.5M
Ln 25
Programscol B$2.6M
Managementcol C$887K
Owns and owesPt X
$6.7M
net assets · Ln 32
Cash and savingsLn 1–2$2.2M
Total assetsLn 16$7.6M
LiabilitiesLn 26$858K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.5M
Government grantsLn 1e$2.5M
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$84K
Other incomeLn 4–11$35K
Total revenueLn 12$3.9M
Assets in detailPt X, end of year
CashLn 1$2.2M
Cash and savings togetherLn 1–2$2.2M
InvestmentsLn 11–13$2.9M
Land, buildings, equipmentLn 10c$688K
Other assetsLn 15$808K
Total assetsLn 16$7.6M
LiabilitiesLn 26$858K
Net assetsLn 32$6.7M
OperationsPt I, VI
EmployeesI 5222
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$2.1M$2.2M
InvestmentsLn 11–13$2.5M$2.9M
Land, buildings, equipmentLn 10c$791K$688K
Total assetsLn 16$6.6M$7.6M
LiabilitiesLn 26$684K$858K
Net assetsLn 32$5.9M$6.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.5M$1.2M$352K
Other employee benefitsLn 9$420K$385K$35K
Payroll taxesLn 10$190K$164K$27K
Advertising and promotionLn 12$63K$63K
OccupancyLn 16$147K$90K$56K
TravelLn 17$59K$47K$12K
Depreciation, depletion and amortizationLn 22$106K$5K$102K
Other expenses (24a–d)Ln 24$622K$519K$103K
All other expensesLn 24e$330K$194K$136K
Total functional expensesLn 25$3.5M$2.6M$887K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $3.9M$3.5M$407K$6.7M 990 PDF
FY2024 $4.9M$3.3M$1.6M$5.9M 990 PDF
FY2023 $2.8M$2.7M$23K$3.9M 990 PDF
FY2022 $2.7M$2.3M$472K$3.7M 990 PDF
FY2021 $3.8M$2.9M$912K$3.9M 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 $3,872,722 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,615,705$2,491,009
I-9 Program service revenuePrior year $3,215,502$1,261,878
I-10 Investment incomePrior year $37,221$84,490
I-11 Other revenuePrior year $835$35,345
I-12 Total revenuePrior year $4,869,263$3,872,722
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,101,492$2,138,398
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,172,028$1,327,575
I-18 Total expensesPrior year $3,273,520$3,465,973
I-19 Revenue less expensesPrior year $1,595,743$406,749
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,872,722 across 6 lines filed
VIII-1e Government grants$2,491,009
VIII-1h Total contributions, gifts and grants$2,491,009
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,261,878$1,261,878
VIII-3 Investment incomeRelated to mission $84,490$84,490
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $35,345$35,345
VIII-12 Total revenueRelated to mission $1,381,713$3,872,722
Part IX · Statement of functional expenses $3,465,973 across 9 lines filed
IX-7 Other salaries and wagesPrograms $1,176,054 · Management $351,755$1,527,809
IX-9 Other employee benefitsPrograms $384,677 · Management $35,481$420,158
IX-10 Payroll taxesPrograms $163,884 · Management $26,547$190,431
IX-12 Advertising and promotionManagement $63,246$63,246
IX-16 OccupancyPrograms $90,247 · Management $56,372$146,619
IX-17 TravelPrograms $46,713 · Management $12,199$58,912
IX-22 Depreciation, depletion and amortizationPrograms $4,607 · Management $101,683$106,290
IX-24 Other expenses (24a–d)Programs $519,173 · Management $103,089$622,262
IX-24e All other expensesPrograms $194,035 · Management $136,211$330,246
IX-25 Total functional expensesPrograms $2,579,390 · Management $886,583 · Fundraising $0$3,465,973
Part X · Balance sheet $7,593,400 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,104,389$2,205,142
X-4 Accounts receivableStart of year $557,021$878,391
X-8 Inventories for sale or useStart of year $69,587$51,531
X-9 Prepaid expenses and deferred chargesStart of year $8,227$13,734
X-10c Land, buildings and equipment, netStart of year $791,173$687,532
X-11 Publicly traded securitiesStart of year $2,519,095$2,948,995
X-15 Other assetsStart of year $548,571$808,075
X-16 Total assetsStart of year $6,598,063$7,593,400
X-17 Accounts payable and accrued expensesStart of year $134,951$53,623
X-25 Other liabilitiesStart of year $548,781$804,840
X-26 Total liabilitiesStart of year $683,732$858,463
X-27 Net assets without donor restrictionsStart of year $5,907,074$6,734,937
X-32 Total net assets or fund balancesStart of year $5,914,331$6,734,937
X-33 Total liabilities and net assetsStart of year $6,598,063$7,593,400
Part XI · Reconciliation of net assets $6,734,937 net assets at year end
XI-1 Total revenue$3,872,722
XI-2 Total expenses$3,465,973
XI-3 Revenue less expenses$406,749
XI-4 Net assets at start of year$5,914,331
XI-5 Net unrealized gains (losses) on investments$413,857
XI-10 Net assets at end of year$6,734,937

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

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