CATAWBA COUNTY ECONOMIC DEVELOPMENT CORP

EIN: 561195680 501(c)(3) Community Improvement

HICKORY, NC

Total Revenue
$1,006,604
Total Expenses
$1,007,861
Total Assets
$505,120
Net Assets
$276,078
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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
1977
Legal Domicile
NC
Principal Officer
SCOTT MILLAR
Phone
8282671564
Tax Period
2024-07-01 to 2025-06-30

CATAWBA COUNTY ECONOMIC DEVELOPMENT CORP, founded in 1977, is a community nonprofit in the Community Improvement sector that reported $1.0M in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year.

Mission

ENCOURAGE THE INDUSTRIAL AND COMMERCIAL GROWTH OF CATAWBA COUNTY

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $988,666
Program Service Revenue $0
Investment Income $17,938
Other Revenue $0
TOTAL REVENUE $1,006,604

Expense Breakdown

Grants Paid $0
Salaries & Benefits $695,612
Fundraising Expenses $0
Program Expenses $687,358
Other Expenses $312,249
TOTAL EXPENSES $1,007,861

Year-over-Year Comparison

2024 2023 Change
Revenue $1,006,604 $1,215,852 -0.2%
Expenses $1,007,861 $1,261,828 -0.2%
Net Income $-1,257 $-45,976 -1.0%
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

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Governance

Voting Members
9
Independent Members
9
Employees
6
Volunteers
N/A

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
1
$225,847
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SCOTT MILLAR PRESIDENT 40.00
Officer
$225,847 $0 $225,847
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 $1,006,604 $1,007,861 $505,120 $-1,257
2024 $1,215,852 $1,261,828 $498,899 $-45,976
2023 $941,932 $954,657 $617,119 $-12,725
2022 $833,852 $767,679 $739,999 $66,173
2021 $785,771 $772,563 $313,905 $13,208
2020 $750,803 $882,870 $294,771 $-132,067
2019 $765,887 $814,030 $441,641 $-48,143
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