The Carolinas Gateway Partnership INC: Nonprofit Profile, Financials & Form 990 (EIN 56-1931327)

Revenue by fiscal year
FY2020	$4.1M
FY2021	$1.6M
FY2022	$1.2M
FY2023	$1.2M
FY2024	$1.4M
FY2025	$1.1M

Expenses by fiscal year
FY2020	$4.0M
FY2021	$1.5M
FY2022	$1.1M
FY2023	$1.2M
FY2024	$1.5M
FY2025	$1.6M

Net assets by fiscal year
FY2020	$1.3M
FY2021	$1.4M
FY2022	$1.5M
FY2023	$1.5M
FY2024	$1.4M
FY2025	$938K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1996.

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

Where the money goes

84 cents of each dollar spent went to programs.

84%

15%

Program services 84% · $1.3M Management & general 15% · $233K Fundraising 2% · $25K

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; $419K 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

Robert Pike

President &

$229,197Pt VII · Sec A

Oppie N Jordan

VP - Edgecom

$128,150Pt VII · Sec A

E Norris Tolson

President &

$61,694Pt VII · Sec A

See Attached Schedule

Directors

$0Pt VII · Sec A

Robert Pike’s $229K as President & is at the 74th percentile of top reported officer pay among 2832 $1–10M 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 · 3 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Robert Pike	$229,197	$58,967	—	—	—	—
E Norris Tolson	$61,694	$159,671	$180,284	$178,043	$171,197	$168,451
Oppie N Jordan	$128,150	$110,866	$108,998	$108,979	$106,715	$103,283

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

Builds community wealth by creating and expanding business opportunities in Edgecombe and Nash counties.

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Provided by the organization

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1 program · $1.3M · in their own filed words · FY2024

01

1.BUSINESS visitation program - visitation of existing industries to determine specific obstacles to new job creation. 2.INDUSTRY recruitment program - recruitment of new industry to the twin county area. 3.BUSINESS retention and expansion - assist existing industry in expansion through specific incentive programs.

$1.3Mprogram 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

Southern Bank FoundationFY2024$20K

Triangle Community Foundation INCFY2024$8K

Total grants receivedfrom 2 funders$28K

Grants paid · 1 grant · $20K · 2020–2020

Town of NashvilleFY2020$20,000

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$1.1M

Ln 12

Gifts and grantsLn 1h$1.1M

Investment incomeLn 3$23K

Other incomeLn 4–11$5K

Money outPt IX

$1.6M

Ln 25

Programscol B$1.3M

Managementcol C$233K

Fundraisingcol D$25K

Owns and owesPt X

$938K

net assets · Ln 32

Cash and savingsLn 1–2$663K

Total assetsLn 16$1.2M

LiabilitiesLn 26$290K

PeoplePt VI, VII

4

listed · VII A

PaidVII A3

Voting boardVI 1a41

IndependentVI 1b41

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.1M

Government grantsLn 1e$801K

Investment incomeLn 3$23K

Other incomeLn 4–11$5K

Total revenueLn 12$1.1M

Assets in detailPt X, end of year

CashLn 1$7K

SavingsLn 2$657K

Cash and savings togetherLn 1–2$663K

Land, buildings, equipmentLn 10c$142K

Other assetsLn 15$422K

Total assetsLn 16$1.2M

LiabilitiesLn 26$290K

Net assetsLn 32$938K

OperationsPt I, VI

EmployeesI 57

VolunteersI 639

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	$1.0M	$663K
Land, buildings, equipmentLn 10c	$178K	$142K
Total assetsLn 16	$1.6M	$1.2M
LiabilitiesLn 26	$250K	$290K
Net assetsLn 32	$1.4M	$938K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$343K	$266K	$61K	$16K
Other salaries and wagesLn 7	$218K	$180K	$38K
Pension plan contributionsLn 8	$17K	$13K	$3K	$786
Other employee benefitsLn 9	$51K	$39K	$9K	$2K
Payroll taxesLn 10	$37K	$29K	$7K	$2K
Legal feesLn 11b	$62K	$23K	$39K
Accounting feesLn 11c	$33K		$33K
Other fees for servicesLn 11g	$207K	$207K
Advertising and promotionLn 12	$38K	$38K
Office expensesLn 13	$49K	$38K	$10K	$870
OccupancyLn 16	$77K	$62K	$14K	$2K
TravelLn 17	$12K	$10K	$2K	$246
Conferences, conventions and meetingsLn 19	$17K	$14K	$3K
Depreciation, depletion and amortizationLn 22	$36K	$29K	$6K	$715
InsuranceLn 23	$7K	$5K	$1K	$131
Other expenses (24a–d)Ln 24	$372K	$366K	$5K	$597
Total functional expensesLn 25	$1.6M	$1.3M	$233K	$25K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$1.1M	$1.6M	−$428K	$938K	990 PDF
FY2024	$1.4M	$1.5M	−$117K	$1.4M	990 PDF
FY2023	$1.2M	$1.2M	−$18K	$1.5M	990 PDF
FY2022	$1.2M	$1.1M	$123K	$1.5M	990 PDF
FY2021	$1.6M	$1.5M	$81K	$1.4M	990 PDF
FY2020	$4.1M	$4.0M	$66K	$1.3M	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 $1,148,675 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,408,044$1,120,226

I-9 Program service revenue$0

I-10 Investment incomePrior year $15,091$22,974

I-11 Other revenuePrior year $353$5,475

I-12 Total revenuePrior year $1,423,488$1,148,675

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $609,681$665,732

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $931,028$911,070

I-18 Total expensesPrior year $1,540,709$1,576,802

I-19 Revenue less expensesPrior year −$117,221−$428,127

Part VI · Governance 41 of 41 board members independent, no flags

VI-1a Voting members of the governing body41

VI-1b Independent voting members41

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 $1,148,675 across 6 lines filed

VIII-1e Government grants$801,376

VIII-1f All other contributions, gifts and grants$318,850

VIII-1h Total contributions, gifts and grants$1,120,226

VIII-3 Investment incomeExcluded from tax $22,974$22,974

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $5,475$5,475

VIII-12 Total revenueRelated to mission $5,475 · Excluded from tax $22,974$1,148,675

Part IX · Statement of functional expenses $1,576,802 across 16 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $266,461 · Management $60,622 · Fundraising $15,683$342,766

IX-7 Other salaries and wagesPrograms $179,737 · Management $38,291$218,028

IX-8 Pension plan contributionsPrograms $13,350 · Management $3,037 · Fundraising $786$17,173

IX-9 Other employee benefitsPrograms $39,482 · Management $8,983 · Fundraising $2,323$50,788

IX-10 Payroll taxesPrograms $28,745 · Management $6,540 · Fundraising $1,692$36,977

IX-11b Legal feesPrograms $22,809 · Management $39,463$62,272

IX-11c Accounting feesManagement $33,190$33,190

IX-11g Other fees for servicesPrograms $207,242$207,242

IX-12 Advertising and promotionPrograms $38,062$38,062

IX-13 Office expensesPrograms $38,024 · Management $10,377 · Fundraising $870$49,271

IX-16 OccupancyPrograms $61,750 · Management $13,894 · Fundraising $1,544$77,188

IX-17 TravelPrograms $9,824 · Management $2,210 · Fundraising $246$12,280

IX-19 Conferences, conventions and meetingsPrograms $13,634 · Management $3,408$17,042

IX-22 Depreciation, depletion and amortizationPrograms $28,609 · Management $6,437 · Fundraising $715$35,761

IX-23 InsurancePrograms $5,245 · Management $1,180 · Fundraising $131$6,556

IX-24 Other expenses (24a–d)Programs $366,231 · Management $5,378 · Fundraising $597$372,206

IX-25 Total functional expensesPrograms $1,319,205 · Management $233,010 · Fundraising $24,587$1,576,802

Part X · Balance sheet $1,227,705 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $12,375$6,647

X-2 Savings and temporary cash investmentsStart of year $989,500$656,608

X-10c Land, buildings and equipment, netStart of year $177,771$142,011

X-15 Other assetsStart of year $436,388$422,439

X-16 Total assetsStart of year $1,616,034$1,227,705

X-17 Accounts payable and accrued expensesStart of year $104,282$115,438

X-25 Other liabilitiesStart of year $145,530$174,172

X-26 Total liabilitiesStart of year $249,812$289,610

X-27 Net assets without donor restrictionsStart of year $1,301,170$915,543

X-28 Net assets with donor restrictionsStart of year $65,052$22,552

X-32 Total net assets or fund balancesStart of year $1,366,222$938,095

X-33 Total liabilities and net assetsStart of year $1,616,034$1,227,705

Part XI · Reconciliation of net assets $938,095 net assets at year end

XI-1 Total revenue$1,148,675

XI-2 Total expenses$1,576,802

XI-3 Revenue less expenses−$428,127

XI-4 Net assets at start of year$1,366,222

XI-10 Net assets at end of year$938,095

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

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