Surry County Economic Development Partnership INC

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To promote Economic Development in Surry County, north carolina, by supporting existing businesses and industry so they will continue to thrive and grow, and to attract new businesses and industry to the area

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
$87K 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

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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $27K a year · 8% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$87K
to officers and key staff · 36% of spending
Concern: pay to officers and key staff is 36% of spending; over 30%.
Pt VII · Sec A
19 mo
of spending, in cash
Looks good: 19.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$309K
-12% vs prior year
Spent
$243K
To programs
100%
Net assets
$407K
By yearFY2020–FY2023
Revenue
$309K
FY2023▼ -12%
Tap a bar for its year
Revenue by fiscal year
FY2020$316K
FY2021$331K
FY2022$352K
FY2023$309K
Expenses
$243K
FY2023▼ -23%
Tap a bar for its year
Expenses by fiscal year
FY2020$321K
FY2021$317K
FY2022$318K
FY2023$243K
Net assets
$407K
FY2023▲ +20%
Tap a bar for its year
Net assets by fiscal year
FY2020$292K
FY2021$306K
FY2022$340K
FY2023$407K

From the FY2023 Form 990 (year ending June 2023) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Apr 1996.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $243K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

31 people listed on the 990; $87K 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
$60,718Pt VII · Sec A
President
$26,406Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
Todd Tucker$60,718$123,967$123,717$125,217
Blake Moyer$26,406———

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 Surry County Economic Development Partnership 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

Supports businesses to thrive and grow, attracting new industry to Surry County.

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Provided by the organization

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1 program · $243K · in their own filed words · FY2022
01

Assisted with industry expansion projects in surry county. Contributions received for the year ended 06/30/2023 were $308,971, functional expenses were $243,290 and other program service revenue was $442.

$243Kprogram 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$20K
Grants paid · 1 grant · $30K · 2021–2021
Individual RecipientFY2021$30,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$309K
Ln 12
Gifts and grantsLn 1h$309K
Investment incomeLn 3$442
Money outPt IX
$243K
Ln 25
Programscol B$243K
Owns and owesPt X
$407K
net assets · Ln 32
Cash and savingsLn 1–2$389K
Total assetsLn 16$414K
LiabilitiesLn 26$8K
PeoplePt VI, VII
31
listed · VII A
PaidVII A2
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$309K
Government grantsLn 1e$219K
Investment incomeLn 3$442
Total revenueLn 12$309K
Assets in detailPt X, end of year
CashLn 1$205K
SavingsLn 2$184K
Cash and savings togetherLn 1–2$389K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$414K
LiabilitiesLn 26$8K
Net assetsLn 32$407K
OperationsPt I, VI
EmployeesI 53
VolunteersI 60
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$331K$389K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$353K$414K
LiabilitiesLn 26$13K$8K
Net assetsLn 32$340K$407K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$87K$87K
Other salaries and wagesLn 7$26K$26K
Pension plan contributionsLn 8$4K$4K
Payroll taxesLn 10$9K$9K
Other fees for servicesLn 11g$35K$35K
Advertising and promotionLn 12$13K$13K
Office expensesLn 13$428$428
Information technologyLn 14$8K$8K
OccupancyLn 16$10K$10K
TravelLn 17$9K$9K
Conferences, conventions and meetingsLn 19$3K$3K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$28K$28K
All other expensesLn 24e$8K$8K
Total functional expensesLn 25$243K$243K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $309K$243K$66K$407K 990 PDF
FY2022 $352K$318K$34K$340K 990 PDF
FY2021 $331K$317K$14K$306K 990 PDF
FY2020 $316K$321K−$5K$292K 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 $309,413 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $352,186$308,971
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $32$442
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $352,218$309,413
I-13 Grants and similar amounts paidPrior year $30,000$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $203,989$125,337
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $83,900$117,953
I-18 Total expensesPrior year $317,889$243,290
I-19 Revenue less expensesPrior year $34,329$66,123
Part VI · Governance 17 of 17 board members independent, 2 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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 $309,413 across 5 lines filed
VIII-1e Government grants$219,000
VIII-1f All other contributions, gifts and grants$89,971
VIII-1h Total contributions, gifts and grants$308,971
VIII-3 Investment incomeRelated to mission $442$442
VIII-12 Total revenueRelated to mission $442 · Unrelated business $0 · Excluded from tax $0$309,413
Part IX · Statement of functional expenses $243,290 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $87,125$87,125
IX-7 Other salaries and wagesPrograms $25,785$25,785
IX-8 Pension plan contributionsPrograms $3,654$3,654
IX-10 Payroll taxesPrograms $8,773$8,773
IX-11g Other fees for servicesPrograms $34,954$34,954
IX-12 Advertising and promotionPrograms $13,105$13,105
IX-13 Office expensesPrograms $428$428
IX-14 Information technologyPrograms $7,585$7,585
IX-16 OccupancyPrograms $9,790$9,790
IX-17 TravelPrograms $8,798$8,798
IX-19 Conferences, conventions and meetingsPrograms $3,323$3,323
IX-23 InsurancePrograms $3,919$3,919
IX-24 Other expenses (24a–d)Programs $28,355$28,355
IX-24e All other expensesPrograms $7,696$7,696
IX-25 Total functional expensesPrograms $243,290 · Management $0 · Fundraising $0$243,290
Part X · Balance sheet $414,477 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $331,028$205,315
X-2 Savings and temporary cash investments$184,180
X-3 Pledges and grants receivableStart of year $19,789$15,000
X-4 Accounts receivableStart of year $2,482$2,482
X-9 Prepaid expenses and deferred charges$7,500
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $353,299$414,477
X-17 Accounts payable and accrued expensesStart of year $13,333$7,703
X-26 Total liabilitiesStart of year $13,333$7,703
X-27 Net assets without donor restrictionsStart of year $229,966$293,899
X-28 Net assets with donor restrictionsStart of year $110,000$112,875
X-32 Total net assets or fund balancesStart of year $339,966$406,774
X-33 Total liabilities and net assetsStart of year $353,299$414,477
Part XI · Reconciliation of net assets $406,774 net assets at year end
XI-1 Total revenue$309,413
XI-2 Total expenses$243,290
XI-3 Revenue less expenses$66,123
XI-4 Net assets at start of year$339,966
XI-8 Prior period adjustments$685
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$406,774

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

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