WILKES ECONOMIC DEVELOPMENT CORPOR… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

LEEANN NIXON

Phone

3368381402

Tax Period

2023-07-01 to 2024-06-30

WILKES ECONOMIC DEVELOPMENT CORPORATION, founded in 1996, is a community nonprofit in the Community Improvement sector that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $334K, a strong 30% operating margin.

Mission

ECONOMIC DEVELOPMENT OF WILKES COUNTY

Program Service Accomplishments

Program 1

Expenses: $638,411

ACTING AS AN ADVISORY COUNCIL TO LOCAL GOVERNMENTAL AGENCIES AND BUSINESSES IN WILKES COUNTY, NC, WHERE RECOMMENDATIONS OF GOALS AND OBJECTIVES ARE GIVEN FOR FUTURE ECONOMIC DEVELOPMENT.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $908,759

Program Service Revenue $172,409

Investment Income $30,160

Other Revenue $6,999

TOTAL REVENUE $1,118,327

Expense Breakdown

Grants Paid $21,387

Salaries & Benefits $322,368

Fundraising Expenses $46,712

Program Expenses $638,411

Other Expenses $440,470

TOTAL EXPENSES $784,225

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,118,327	$1,430,166	-0.2%
Expenses	$784,225	$560,880	+0.4%
Net Income	$334,102	$869,286	-0.6%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

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

$234,344

Total Directors

$98,408

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEEANN NIXON	PRESIDENT	40.00	Officer	$118,034	$17,902	$135,936
ROBIN HAMBY	VICE PRESIDE	40.00	Officer Director	$82,293	$16,115	$98,408
SHELMER BLACKBURN	DIRECTOR	1.00	Director	$0	$0	$0
AMY BLAIR	VICE CHAIR	1.00	Officer Director	$0	$0	$0
TERRY BUMGARNER	CHAIR	1.00	Officer Director	$0	$0	$0
BRETT COTHREN	TREASURER	1.00	Officer Director	$0	$0	$0
JOHN COTHREN	DIRECTOR	1.00	Director	$0	$0	$0
KEITH ELMORE	DIRECTOR	1.00	Director	$0	$0	$0
RUSS FEREE	DIRECTOR	1.00	Director	$0	$0	$0
LESA HENSLEY	DIRECTOR	1.00	Director	$0	$0	$0
EDDIE HOLLAND	DIRECTOR	1.00	Director	$0	$0	$0
DALE ISOM	DIRECTOR	1.00	Director	$0	$0	$0
JOE JOHNSTON	DIRECTOR	1.00	Director	$0	$0	$0
LUKE MATHIS	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW PALMER	DIRECTOR	1.00	Director	$0	$0	$0
BILL SEXTON	DIRECTOR	1.00	Director	$0	$0	$0
SANDRA SIMMONS	DIRECTOR	1.00	Director	$0	$0	$0
CINDY THOMPSON	DIRECTOR	1.00	Director	$0	$0	$0
RON WILCOX	DIRECTOR	1.00	Director	$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
2025	No data	No data	No data	No data
2024	$1,118,327	$784,225	$4,824,394	$334,102
2023	$1,430,166	$560,880	$4,481,472	$869,286
2022	$2,586,920	$445,733	$3,607,748	$2,141,187
2021	$374,575	$559,982	$1,468,078	$-185,407
2020	$532,003	$441,837	$1,653,312	$90,166
2019	$369,819	$357,460	$1,588,299	$12,359
2018	$359,399	$359,472	$1,549,444	$-73

WILKES ECONOMIC DEVELOPMENT CORPORATION