JOHNSTON COUNTY ECONOMIC DEVELOPMENT CORPORATION

EIN: 581670951 501(c)(3)

SMITHFIELD, NC

Total Revenue
$1,028,892
Total Expenses
$258,381
Total Assets
$4,784,238
Net Assets
$2,554,988
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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
1985
Legal Domicile
NC
Principal Officer
EDWIN ALDRIDGE JR
Phone
9192051232
Tax Period
2024-07-01 to 2025-06-30

JOHNSTON COUNTY ECONOMIC DEVELOPMENT CORPORATION, founded in 1985, is a community nonprofit that reported $1.0M in total revenue in fiscal year 2024. Revenue surged 317% from the prior year, signaling strong growth momentum. The organization ran a surplus of $771K, a strong 75% operating margin.

Mission

HELP LOCAL ORGANIZATIONS IN RECRUITING INDUSTRIES.

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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 $1,027,399
Program Service Revenue $0
Investment Income $1,493
Other Revenue $0
TOTAL REVENUE $1,028,892

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $258,381
Other Expenses $258,381
TOTAL EXPENSES $258,381

Year-over-Year Comparison

2024 2023 Change
Revenue $1,028,892 $246,444 +3.2%
Expenses $258,381 $247,325 +0.0%
Net Income $770,511 $-881 -875.6%
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
14
Independent Members
14
Employees
N/A
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
2
$0
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ADAM CARROLL DIRECTOR N/A
Director
$0 $0 $0
CLYDE CASTLEBERRY DIRECTOR N/A
Director
$0 $0 $0
CAROLYN DOBBIN DIRECTOR N/A
Director
$0 $0 $0
KEVIN DOUGHERTY DIRECTOR N/A
Director
$0 $0 $0
MIKE FLEMING DIRECTOR N/A
Director
$0 $0 $0
STEVE HARGIS VICE PRESIDE N/A
Officer Director
$0 $0 $0
RANDY JONES DIRECTOR N/A
Director
$0 $0 $0
EDWIN ALDRIDGE JR PRESIDENT N/A
Officer Director
$0 $0 $0
O HAMPTON WHITTINGTON JR DIRECTOR N/A
Director
$0 $0 $0
DONNIE LASSITER DIRECTOR N/A
Director
$0 $0 $0
DALE MOORE DIRECTOR N/A
Director
$0 $0 $0
CHERYL OLIVER DIRECTOR N/A
Director
$0 $0 $0
LINWOOD PARKER DIRECTOR N/A
Director
$0 $0 $0
PATRICK PIERCE DIRECTOR N/A
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 $1,028,892 $258,381 $4,784,238 $770,511
2024 $246,444 $247,325 $4,168,182 $-881
2023 $244,918 $252,432 $4,270,822 $-7,514
2022 $275,934 $261,682 $4,418,918 $14,252
2021 $243,925 $286,481 $4,541,482 $-42,556
2020 $261,446 $339,327 $4,715,434 $-77,881
2019 $248,957 $272,166 $4,919,505 $-23,209
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