North Carolina Economic Development Association Foundation

EIN: 854233724 501(c)(3) Community Improvement

Raleigh, NC

Total Revenue
$213,335
Total Expenses
$89,364
Total Assets
$402,879
Net Assets
$402,879
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
NC
Principal Officer
DR PATRICIA MITCHELL
Phone
8882462332
Tax Period
2023-07-01 to 2024-06-30

North Carolina Economic Development Association Foundation, founded in 2020, is a small nonprofit in the Community Improvement sector that reported $213K in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $124K, a strong 58% operating margin.

Mission

To advance the economic development profession, enhance the knowledge and skills of economic developers and strengthen the broad, statewide economic development community in North Carolina

Program Service Accomplishments

Program 1
Expenses: $74,816 Revenue: $213,335

TO ADVANCE THE ECONOMIC DEVELOPMENT PROFESSION, ENHANCE THE KNOWLEDGE AND SKILLS OF ECONOMIC DEVELOPERS AND STRENGTHEN THE BROAD, STATEWIDE ECONOMIC DEVELOPMENT COMMUNITY IN 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 (2023)

Revenue Breakdown

Contributions & Grants $206,370
Program Service Revenue $2,600
Investment Income $4,365
Other Revenue $0
TOTAL REVENUE $213,335

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $74,816
Other Expenses $89,364
TOTAL EXPENSES $89,364

Year-over-Year Comparison

2023 2022 Change
Revenue $213,335 $191,131 +0.1%
Expenses $89,364 $113,059 -0.2%
Net Income $123,971 $78,072 +0.6%
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

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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
10
Independent Members
10
Employees
N/A
Volunteers
15

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
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR PATRICIA MITCHELL Chair N/A
Officer
$0 $0 $0
RANDALL JOHNSON Vice Chair N/A
Officer
$0 $0 $0
ELIZABETH DOBBINS-SMITH SecretaryTreasurer N/A
Officer
$0 $0 $0
JOANNA HELMS Director N/A
Director
$0 $0 $0
DR GARY LANIER Director N/A
Director
$0 $0 $0
ANDRE LENNON Director N/A
Director
$0 $0 $0
RAUL PERALTA Director N/A
Director
$0 $0 $0
CRYSTAL MORPHIS Director N/A
Director
$0 $0 $0
CHRIS PLATE Director N/A
Director
$0 $0 $0
RYAN NANCE Director N/A
Director
$0 $0 $0
STEVE YOST Director N/A
Director
$0 $0 $0
ERNIE PEARSON General Counsel N/A
Director
$0 $0 $0
YOLANDA BRISCO General Counsel 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 No data No data No data No data
2024 $213,335 $89,364 $402,879 $123,971
2023 $191,131 $113,059 $278,909 $78,072
2022 $248,140 $76,879 $200,836 $171,261
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