Rowan Economic Development Council FY2021 filing

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Promoting Economic and industrial Development in Rowan county, north carolina

501(c)(4) social-welfare organization; the IRS lists gifts to it as tax-deductible.
99¢ of each $1 spent went to programs.
$92K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $1K a year · under 1% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$92K
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
11 mo
of spending, in cash
Looks good: 11.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $250K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$410
0.08% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$615K
-41% vs prior year
Spent
$491K
To programs
99%
Net assets
$483K
By yearFY2021–FY2024
Revenue
$615K
FY2021▼ -41%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.0M
FY2021$615K
FY2022$1.2M
FY2023$1.2M
FY2024$1.2M
Expenses
$491K
FY2021▼ -52%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.0M
FY2021$491K
FY2022$1.1M
FY2023$1.1M
FY2024$1.4M
Net assets
$483K
FY2021▲ +35%
Tap a bar for its year
Net assets by fiscal year
FY2021$359K
FY2021$483K
FY2022$593K
FY2023$669K
FY2024$465K

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1986.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $485K Fundraising 1% · $6K

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

15 people listed on the 990; $92K paid to officers and key staff.

Part VII, Section A · reportable compensation
President &
$92,474Pt VII · Sec A
Vice-Chairma
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2021
Rod Crider$208,317$199,241$181,584$92,474$180,795

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 Rowan Economic Development Council 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

Promotes economic and industrial growth in Rowan County, North Carolina.

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Provided by the organization

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1 program · $485K · in their own filed words · FY2021
01

Promoted economic and industrial development in rowan county, north carolina

$485Kprogram 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
Total grants receivedfrom 1 funder$250K
Grants paid · 2 grants · $40K · 2020–2020
Eastern Wholesale Fence LLCFY2020$20,000
ChewyFY2020$20,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$615K
Ln 12
Gifts and grantsLn 1h$615K
Investment incomeLn 3$110
Money outPt IX
$491K
Ln 25
Programscol B$485K
Fundraisingcol D$6K
Owns and owesPt X
$483K
net assets · Ln 32
Cash and savingsLn 1–2$463K
Total assetsLn 16$483K
LiabilitiesLn 26$410
PeoplePt VI, VII
15
listed · VII A
PaidVII A1
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$615K
Government grantsLn 1e$490K
Investment incomeLn 3$110
Total revenueLn 12$615K
Assets in detailPt X, end of year
CashLn 1$206K
SavingsLn 2$257K
Cash and savings togetherLn 1–2$463K
Land, buildings, equipmentLn 10c$21K
Total assetsLn 16$483K
LiabilitiesLn 26$410
Net assetsLn 32$483K
OperationsPt I, VI
EmployeesI 55
Fiscal year endsHeaderDecember
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 FY21End FY21
Cash and savingsLn 1–2$338K$463K
Land, buildings, equipmentLn 10c$20K$21K
Total assetsLn 16$359K$483K
LiabilitiesLn 26$0$410
Net assetsLn 32$359K$483K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$7K$7K
Pay of current officers, directors and key staffLn 5$92K$92K
Other salaries and wagesLn 7$164K$164K
Pension plan contributionsLn 8$26K$26K
Other employee benefitsLn 9$38K$38K
Payroll taxesLn 10$17K$17K
Accounting feesLn 11c$6K$6K
Professional fundraising feesLn 11e$6K$6K
Other fees for servicesLn 11g$22K$22K
Advertising and promotionLn 12$20K$20K
Office expensesLn 13$9K$9K
Information technologyLn 14$10K$10K
OccupancyLn 16$7K$7K
TravelLn 17$7K$7K
Conferences, conventions and meetingsLn 19$2K$2K
Depreciation, depletion and amortizationLn 22$4K$4K
InsuranceLn 23$64$64
Other expenses (24a–d)Ln 24$54K$54K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$491K$485K$0$6K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.2M$1.4M−$204K$465K 990 PDF
FY2023 $1.2M$1.1M$76K$669K 990 PDF
FY2022 $1.2M$1.1M$110K$593K 990 PDF
FY2021 $1.0M$1.0M$22K$359K 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 FY2021 990 (6 parts)
Part I · Summary $615,272 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,038,467$615,162
I-9 Program service revenue$0
I-10 Investment incomePrior year $279$110
I-11 Other revenue$0
I-12 Total revenuePrior year $1,038,746$615,272
I-13 Grants and similar amounts paidPrior year $40,000$6,950
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $626,599$336,832
I-16a Professional fundraising feesPrior year $13,250$5,650
I-17 Other expensesPrior year $336,536$141,467
I-18 Total expensesPrior year $1,016,385$490,899
I-19 Revenue less expensesPrior year $22,361$124,373
Part VI · Governance 15 of 15 board members independent, 1 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $615,272 across 5 lines filed
VIII-1e Government grants$490,162
VIII-1f All other contributions, gifts and grants$125,000
VIII-1h Total contributions, gifts and grants$615,162
VIII-3 Investment incomeExcluded from tax $110$110
VIII-12 Total revenueExcluded from tax $110$615,272
Part IX · Statement of functional expenses $490,899 across 19 lines filed
IX-1 Grants to domestic organizationsPrograms $6,950$6,950
IX-5 Pay of current officers, directors and key staffPrograms $92,474$92,474
IX-7 Other salaries and wagesPrograms $164,088$164,088
IX-8 Pension plan contributionsPrograms $25,635$25,635
IX-9 Other employee benefitsPrograms $37,775$37,775
IX-10 Payroll taxesPrograms $16,860$16,860
IX-11c Accounting feesPrograms $6,018$6,018
IX-11e Professional fundraising feesFundraising $5,650$5,650
IX-11g Other fees for servicesPrograms $22,023$22,023
IX-12 Advertising and promotionPrograms $19,969$19,969
IX-13 Office expensesPrograms $8,767$8,767
IX-14 Information technologyPrograms $9,765$9,765
IX-16 OccupancyPrograms $6,620$6,620
IX-17 TravelPrograms $6,613$6,613
IX-19 Conferences, conventions and meetingsPrograms $1,970$1,970
IX-22 Depreciation, depletion and amortizationPrograms $3,912$3,912
IX-23 InsurancePrograms $64$64
IX-24 Other expenses (24a–d)Programs $53,880$53,880
IX-24e All other expensesPrograms $1,866$1,866
IX-25 Total functional expensesPrograms $485,249 · Management $0 · Fundraising $5,650$490,899
Part X · Balance sheet $483,390 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $81,534$205,765
X-2 Savings and temporary cash investmentsStart of year $256,783$256,894
X-10c Land, buildings and equipment, netStart of year $20,290$20,731
X-16 Total assetsStart of year $358,607$483,390
X-17 Accounts payable and accrued expenses$410
X-26 Total liabilitiesStart of year $0$410
X-27 Net assets without donor restrictionsStart of year $288,589$386,579
X-28 Net assets with donor restrictionsStart of year $70,018$96,401
X-32 Total net assets or fund balancesStart of year $358,607$482,980
X-33 Total liabilities and net assetsStart of year $358,607$483,390
Part XI · Reconciliation of net assets $482,980 net assets at year end
XI-1 Total revenue$615,272
XI-2 Total expenses$490,899
XI-3 Revenue less expenses$124,373
XI-4 Net assets at start of year$358,607
XI-10 Net assets at end of year$482,980

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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