NORTH CAROLINAS EASTERN ECONOMIC DEVELOPMENT CORPORATION

EIN: 561995352 501(c)(3) Education

EDENTON, NC

Total Revenue
$2,617,071
Total Expenses
$861,118
Total Assets
$1,993,344
Net Assets
$1,954,348
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
NC
Principal Officer
VANN ROGERSON
Phone
2524824333
Tax Period
2022-07-01 to 2023-06-30

NORTH CAROLINAS EASTERN ECONOMIC DEVELOPMENT CORPORATION, founded in 1996, is a community nonprofit in the Education sector that reported $2.6M in total revenue in fiscal year 2022. Revenue surged 222% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.8M, a strong 67% operating margin.

Mission

THE ORGANIZATION IS DEVELOPING NETWORKS THROUGH THE COLLABORATIVE EFFORTS OF REGIONAL BUSINESSES, SCHOOL DISTRICTS, ECONOMIC DEVELOPMENT MUNICIPALITIES, PRIVATE FOUNDATIONS, STATE AND LOCAL GOVERNMENT AND MANY OTHERS, OUR INTENT IS THAT STUDENTS ACROSS OUR REGION WILL ENGAGE IN REAL-WORLD STEM LEARNING OPPORTUNITIES THAT DIRECTLY ALIGN WITH CAREER OPPORTUNITIES IN EASTERN NORTH CAROLINA.

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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 $2,564,709
Program Service Revenue $49,650
Investment Income $1,275
Other Revenue $1,437
TOTAL REVENUE $2,617,071

Expense Breakdown

Grants Paid $0
Salaries & Benefits $221,085
Fundraising Expenses $0
Program Expenses $861,118
Other Expenses $640,033
TOTAL EXPENSES $861,118

Year-over-Year Comparison

2022 2021 Change
Revenue $2,617,071 $812,466 +2.2%
Expenses $861,118 $768,302 +0.1%
Net Income $1,755,953 $44,164 +38.8%
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

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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
11
Independent Members
11
Employees
3
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
3
$72,000
Total Directors
11
$72,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VANN ROGERSON EXECUTIVE DIRECTOR 20.00
Officer Director
$72,000 $0 $72,000
MARK HAMBLIN CHARIMAN 1.00
Officer Director
$0 $0 $0
TODD EDWARDS MEMBER 1.00
Officer Director
$0 $0 $0
AARON OUELLETTE MEMBER 1.00
Director
$0 $0 $0
DR MICHAEL WALDRUM MEMBER 1.00
Director
$0 $0 $0
ROLAND VAUGHAN MEMBER 1.00
Director
$0 $0 $0
AMY BRASWELL MEMBER 1.00
Director
$0 $0 $0
SHARON PAYNTER MEMBER 1.00
Director
$0 $0 $0
TONY KHOURY MEMBER 1.00
Director
$0 $0 $0
JERRY JONES MEMBER 1.00
Director
$0 $0 $0
TRACEY JOHNSON MEMBER 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
2023 $2,617,071 $861,118 $1,993,344 $1,755,953
2022 $812,466 $768,302 $266,767 $44,164
2021 $278,392 $363,536 $189,275 $-85,144
2020 $156,162 $149,734 $239,375 $6,428
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