Economic Investment Fund of Henderson County INC EIN 81-2984122

Economic Investment Fund of Henderson County INC

EIN  81-2984122 Public charity (501(c)(3)) Hendersonville, NC
Form 990 (PDF) Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Economic Investment Fund of Henderson County INC claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Develops local jobs and workforce by promoting manufacturing careers and preserving property.
Leadership
Brittany Brady · President &
Money in and out
$276K revenue, $128K expenses
Bottom line
100% program efficiency

Develops local jobs and workforce by promoting manufacturing careers and preserving property. For fiscal year 2024 it reported $276K in revenue, $128K in expenses, and $1.8M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$276K
Pt VIII · Ln 12
Total expenses
$128K
Pt IX · Ln 25
Net assets
$1.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $148K
Where spending went · Part IX cols B–D
Program services $1.00 Management & general $0.00
Program efficiency
100%
of spending reaches programs0% vs prior filing year
Operating runway
137.0mo
months of highly liquid reserves at operating expense rate▼ -2% vs prior filing year
Surplus margin
+54%
revenue over expenses, this year▼ -8% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$276K
FY2024▲ +28%
Expenses
$128K
FY2024▲ +42%
Total assets
$3.0M
FY2024▲ +16%
Total liabilities
$1.2M
FY2024▲ +29%
Total revenue
$276K
Pt VIII · Ln 12
Total expenses
$128K
Pt IX · Ln 25
Net assets
$1.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$148K
Total assetsPt X · Ln 16$3.0M
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

1 program service account for $128K of program spending, described in the organization's own filed words · FY2024.
01

To carry out the corporation's charitable and educational purposes by accepting, holding, investing, and administering any gifts, bequests, scholarships, grants, and devises of property of any nature, and to use, disburse, loan, or donate the principal thereof or income earned thereupon for the exclusive benefit of or in furtherance of…

$128Kprogram expense

Run this program? Claim this org to tell your story

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CEconomic Investment Fund of Henderson County INC
EINHdr · item D81-2984122
Principal addressHdr · item CHendersonville, NC
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S30)
Ruling yearIRS BMFAug 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President &
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary/Tr
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Memebe
$0Pt VII · Sec A
See Economic Investment Fund of Henderson County INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Statement of Revenue

Part VIII
Contributions & grants$251K · 91%
Investment income$25K · 9%
Contributions & grants91%$251K
Investment income9%$25K
— government grantsLn 1e$202K
Total revenueLn 12$276K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00 Management & general $0.00
Program services100%$128K
Management & general$133
Total functional expensesLn 25$128K

Balance Sheet

Part X · end of year
CashLn 1$1.5M
Total assetsLn 16$3.0M
Total liabilitiesLn 26$1.2M
Total net assetsLn 32$1.8M
Months of cash on handcomputed137.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.5M · Operating expenses/yr $128K
137.0 months
Where the money goes
Program services
Program services $128K · Total expenses $128K
100%
Management & General
Management & general $133 · Total expenses $128K
0%
Fundraising
Fundraising $0 · Total expenses $128K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $16K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $251K · Total revenue $276K
91%
Government reliance
Government grants $202K · Total revenue $276K
73%
Earned-income share
Program service revenue $0 · Total revenue $276K
0%
Investment reliance
Investment income $25K · Total revenue $276K
+9%
Program self-sufficiency
Program service revenue $0 · Total expenses $128K
0%
Growth & trend
Revenue growth (YoY)
This year $276K · Prior year $216K
+28%
Revenue CAGR
FY2019 $191K · FY2024 $276K
+8%
Net-asset trend (YoY)
End of year $1.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $276K · Expenses $128K
+54%
Liabilities-to-Assets
Total liabilities — · Total assets $3.0M
Net-asset ratio
Net assets $1.8M · Total assets $3.0M
60%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $3.0M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Brittany Brady · Reported title PRESIDENT & · Highest reported compensation $0 · Total expenses $128K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $128K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Revenue growth 28%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Similar Organizations

Closest in mission — by what they do
See all organizations like Economic Investment Fund of Henderson County INC →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$216K revenue · ⤓ 990 PDF
FY2023$184K revenue · ⤓ 990 PDF
FY2022$166K revenue · ⤓ 990 PDF
FY2021$467K revenue · ⤓ 990 PDF
FY2020$191K revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.