ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC (EIN 464840814) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2013

Legal Domicile

Principal Officer

CHRISTOPHER CHUNG

Phone

9194477777

Tax Period

2024-07-01 to 2025-06-30

ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC, founded in 2013, is a mid-sized nonprofit in the Community Improvement sector that reported $52.3M in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum.

Mission

COLLABORATING WITH STATE, REGIONAL, LOCAL, AND PRIVATE-SECTOR PARTNERS TO IMPROVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE FOR ALL NORTH CAROLINIANS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,642,875

Program Service Revenue $48,248,526

Investment Income $1,443,839

Other Revenue $0

TOTAL REVENUE $52,335,240

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,447,465

Fundraising Expenses $345,549

Program Expenses $48,543,133

Other Expenses $42,030,508

TOTAL EXPENSES $51,477,973

Year-over-Year Comparison

	2024	2023	Change
Revenue	$52,335,240	$42,149,721	+0.2%
Expenses	$51,477,973	$40,730,902	+0.3%
Net Income	$857,267	$1,418,819	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$686,798

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GENE MCLAURIN	DIRECTOR & CHAIR	2.00	Officer Director	$0	$0	$0
JOHN KANE	DIRECTOR & SECRETARY/TREAS	1.00	Officer Director	$0	$0	$0
PAM CUNDIFF	DIRECTOR	1.00	Director	$0	$0	$0
AARON THOMAS	DIRECTOR	1.00	Director	$0	$0	$0
SPENCE BROADHURST	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM MORGAN	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE LOGAN	DIRECTOR (THRU NOV 2024)	1.00	Director	$0	$0	$0
JAMES R JORDAN	DIRECTOR	1.00	Director	$0	$0	$0
SHEILA KNIGHT	DIRECTOR	1.00	Director	$0	$0	$0
VIMAL KOLAPPA	DIRECTOR	1.00	Director	$0	$0	$0
KAREN LEVERT	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD C REICH PHD	DIRECTOR	1.00	Director	$0	$0	$0
LEE NETTLES	DIRECTOR (THRU NOV 2024)	1.00	Director	$0	$0	$0
ROLF BLIZZARD	DIRECTOR	1.00	Director	$0	$0	$0
LEE LILLEY	DIRECTOR	1.00	Director	$0	$0	$0
SAM BOWLES	DIRECTOR	1.00	Director	$0	$0	$0
KEITH HOLTSCLAW	DIRECTOR	1.00	Director	$0	$0	$0
BHASKAR VENEPALLI	DIRECTOR	1.00	Director	$0	$0	$0
SHAYLAH NUNN JONES	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW SCHMIDT	DIRECTOR	1.00	Director	$0	$0	$0
MACHELLE SANDERS	DIRECTOR (THRU NOV 2024)	1.00	Director	$0	$0	$0
CHRISTOPHER CHUNG	CEO	40.00	Officer	$391,760	$64,272	$456,032
MICHAEL EBERT	COO	40.00	Officer	$213,991	$16,775	$230,766
MELISSA SMITH	SR. VP BUSINESS RECRUITMENT	40.00	Highest	$179,736	$15,481	$195,217
DENISE DESATNICK	VP MARKETING	40.00	Highest	$179,332	$17,951	$197,283
WILLIAM TUTTELL	VP TOURISM	40.00	Highest	$174,850	$21,531	$196,381
LARRY PRICE	DIRECTOR FINANCE	40.00	Highest	$147,982	$20,792	$168,774
ANDERS VICTOR	DIRECTOR BUS. DEVELOPMENT	40.00	Highest	$131,261	$13,381	$144,642

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$52,335,240	$51,477,973	$130,673,830	$857,267
2024	$42,149,721	$40,730,902	$38,670,385	$1,418,819
2023	$52,521,206	$51,278,426	$25,065,283	$1,242,780
2022	$25,900,688	$25,058,045	$8,246,221	$842,643
2021	$39,872,083	$38,513,454	$8,597,850	$1,358,629
2020	$20,898,417	$20,293,375	$10,570,203	$605,042
2019	$23,011,507	$23,225,749	$3,583,941	$-214,242
2018	$24,333,761	$23,416,160	$3,793,975	$917,601

ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC