MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC

EIN: 561346748 501(c)(3) Community Improvement

MARION, NC

Total Revenue
$227,897
Total Expenses
$181,319
Total Assets
$86,104
Net Assets
$82,446
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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
1982
Legal Domicile
NC
Tax Period
2022-07-01 to 2023-06-30

MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC, founded in 1982, is a small nonprofit in the Community Improvement sector that reported $228K in total revenue in fiscal year 2022. The organization ran a surplus of $47K, a strong 20% operating margin.

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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 (2022)

Revenue Breakdown

Contributions & Grants $227,886
Program Service Revenue $0
Investment Income $11
Other Revenue $0
TOTAL REVENUE $227,897

Expense Breakdown

Grants Paid $0
Salaries & Benefits $121,924
Fundraising Expenses $0
Program Expenses $144,177
Other Expenses $59,395
TOTAL EXPENSES $181,319

Year-over-Year Comparison

2022 2021 Change
Revenue $227,897 $227,897 N/A
Expenses $181,319 $181,320 0.0%
Net Income $46,578 $46,577 +0.0%
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
20
Independent Members
20
Employees
2
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
4
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID WOOTEN CHAIRPERSON 5.00
Officer
$0 $0 $0
ANDREW TYE SECRETARY TREASURER 5.00
Officer
$0 $0 $0
CHARLES ABERNATHY EXECUTIVE DIRECTOR 40.00
Officer
$0 $0 $0
DENNIS WHITSON VICE CHAIRPERSON 5.00
Officer
$0 $0 $0
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
2023 $227,897 $181,319 $86,104 $46,578
2022 $127,122 $136,831 $39,372 $-9,709
2021 $154,501 $139,007 $49,086 $15,494
2020 $180,858 $170,739 $33,470 $10,119
2019 $244,244 $233,173 $23,346 $11,071
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