IREDELL COUNTY ECONOMIC DEVELOPMENT CORPORATION

EIN: 561555859

MOORESVILLE, NC

Total Revenue
$1,195,848
Total Expenses
$1,072,865
Total Assets
$1,172,319
Net Assets
$890,170
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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
1996
Legal Domicile
NC
Phone
7046631898
Tax Period
2024-07-01 to 2025-06-30

IREDELL COUNTY ECONOMIC DEVELOPMENT CORPORATION, founded in 1996, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Expenses of $1.1M left a modest 10% surplus.

Mission

TO STIMULATE AND PROMOTE THE INDUSTRIAL AND COMMERCIAL DEVELOPMENT OF IREDELL 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 $977,567
Program Service Revenue $155,000
Investment Income $21,838
Other Revenue $41,443
TOTAL REVENUE $1,195,848

Expense Breakdown

Grants Paid $0
Salaries & Benefits $740,534
Fundraising Expenses $0
Program Expenses $968,118
Other Expenses $332,331
TOTAL EXPENSES $1,072,865

Year-over-Year Comparison

2024 2023 Change
Revenue $1,195,848 $1,121,564 +0.1%
Expenses $1,072,865 $1,015,367 +0.1%
Net Income $122,983 $106,197 +0.2%
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
19
Independent Members
19
Employees
8
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
6
$181,072
Total Directors
21
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MELISSA NEADER BOARD MEMBER 1.00
Director
$0 $0 $0
BETH MILTON BOARD MEMBER 1.00
Director
$0 $0 $0
TEROSS YOUNG BOARD MEMBER 1.00
Director
$0 $0 $0
RON SMITH BOARD MEMBER 1.00
Director
$0 $0 $0
RON WYATT BOARD MEMBER 1.00
Director
$0 $0 $0
JIM MARSHALL BOARD MEMBER 1.00
Director
$0 $0 $0
BOB PALMES BOARD MEMBER 1.00
Director
$0 $0 $0
JEFF CERNUTO CHAIR 2.00
Officer Director
$0 $0 $0
DAVID ALEXANDER PAST-CHAIRMAN 2.00
Officer Director
$0 $0 $0
BILL MCCOMBS VICE CHAIR 2.00
Officer Director
$0 $0 $0
CHAD SANDERS SECRATARY 2.00
Officer Director
$0 $0 $0
TIM BREWER BOARD MEMBER - NON VOTING 1.00
Director
$0 $0 $0
DOUG HENDRIX BOARD MEMBER 1.00
Director
$0 $0 $0
TRACEY JEROME BOARD MEMBER 1.00
Director
$0 $0 $0
TIFFANY WEBBER TREASURER 2.00
Officer Director
$0 $0 $0
LAQUISHA PARKS BOARD MEMBER 1.00
Director
$0 $0 $0
MARY KATHERINE LAW BOARD MEMBER 1.00
Director
$0 $0 $0
ZACH GORDON BOARD MEMBER 1.00
Director
$0 $0 $0
GRANT MILLER BOARD MEMBER 1.00
Director
$0 $0 $0
MARK HARTSLIEF BOARD MEMBER 1.00
Director
$0 $0 $0
STEVE MCGLOTHLIAN BOARD MEMBER - NON VOTING 1.00
Director
$0 $0 $0
JENN BOSSER PRESIDENT 40.00
Officer
$181,072 $0 $181,072
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 $1,195,848 $1,072,865 $1,172,319 $122,983
2024 $1,121,564 $1,015,367 $1,087,744 $106,197
2023 $991,880 $899,938 $1,029,927 $91,942
2022 $959,388 $797,572 $980,582 $161,816
2021 $806,587 $748,146 $391,225 $58,441
2020 $749,716 $805,980 $332,784 $-56,264
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