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← NORTH CAROLINA ASSOCIATION OF COMMUNITY ECONOMIC DEVELOPMENT INC

Form 990 for tax year 2023

Filed by NORTH CAROLINA ASSOCIATION OF COMMUNITY ECONOMIC DEVELOPMENT INC.

Totals

Total revenue
$432,628
Total expenses
$344,336
Contributions and grants received
$432,628
Grants paid
$70,000
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$567,421
Total liabilities, end of year
$248,263
Net assets or fund balances, end of year
$319,158
Program services expenses (Part IX)
$294,327
Management and general expenses
$50,009
Fundraising expenses
$0
Program service expenses (Part III)
$294,327

Program services were 85.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $432,628

  • 2a · Program service revenue: Fiscal Adm Fee

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $70,000 · program services $70,000

  • 5 · Compensation of officers, directors and key employees

    total $60,200 · program services $54,200 · management and general $6,000

  • 7 · Other salaries and wages

    total $71,200 · program services $63,512 · management and general $7,688

  • 8 · Pension plan contributions

    total $7,884 · program services $7,060 · management and general $824

  • 9 · Other employee benefits

    total $17,562 · program services $16,252 · management and general $1,310

  • 10 · Payroll taxes

    total $10,976 · program services $9,929 · management and general $1,047

  • 11a · Fees: management

    total $39,996 · program services $39,996

  • 11c · Fees: accounting

    total $22,871 · program services $1,667 · management and general $21,204

  • 13 · Office expenses

    total $5,253 · program services $1,723 · management and general $3,530

  • 14 · Information technology

    total $4,875 · program services $3,600 · management and general $1,275

  • 16 · Occupancy

    total $12,977 · program services $11,364 · management and general $1,613

  • 17 · Travel

    total $5,317 · program services $1,848 · management and general $3,469

  • 19 · Conferences, conventions and meetings

    total $4,584 · program services $4,584

  • 23 · Insurance

    total $1,201 · program services $880 · management and general $321

  • 24a · Other expenses: Postage

    total $540 · program services $392 · management and general $148

  • 24b · Other expenses: Printing

    total $1,904 · program services $1,904

  • 24c · Other expenses: Telecommunication

    total $5,416 · program services $5,416

  • 24d · Other expenses: Misc Expense

    total $1,580 · management and general $1,580

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $406,311 · end of year $566,529

  • 4 · Accounts receivable

    beginning of year $895 · end of year $892

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,637 · end of year $4,598

  • 19 · Deferred revenue

    beginning of year $171,703 · end of year $243,665

  • 27 · Net assets without donor restrictions

    beginning of year $230,866 · end of year $319,158

Mission and programs · 2023

Mission

Strengthening NC economy and creating a better tomorrow for all North Carolinians by advancing innovative, community-based economic development strategies that improve the quality of life where NC residents live, work and play.

  • Since its inception, NCACED has been working to strengthen communities and increase economic opportunities. In a historically distressed community experiencing significant economic recovery and transformation, NCACED is focused on a comprehensive strategy that encompasses place-based improvements to racially segregated disinvested neighborhoods and approaches to improve health outcomes for those who experience the greatest health disparities. As the region works to generate positive economic impact, NCACED has structured a community-driven model capable of replication elsewhere to guide one citys transformation in equitable development directions. NCACED supports the notion that those most impacted by the problems confronting our communities must be at the center of change efforts. NCACEDs model provides resident-level education and leadership development services, with the goal of expanding individual capacities and enhancing community

    Expenses $166,972 · Grants $70,000

  • Advocacy/Public Policy: Guided by proactive and engaged low-income residents, NCACED is pursuing equitable development strategies through land use management and other policy changes that will increase and protect price-appropriate housing for struggling working families, create safer, more appealing streets and downtowns, enlarge access to healthy foods, enhance public health and environmental stewardship, and improve jobs and transportation services. NNCACED seeks to promote and expand resident participation in meaningful, powerful and representative civic engagement activities. As a result of NCACEDs programmatic efforts, increased low-income resident involvement in key community change activities has been achieved. By recognizing the value added low-wealth residents brought to the table with their informed comments about their neighborhoods, city officials and neighborhood residents began working together in an effective partnership to reach a shared goal.

    Expenses $104,480

  • Coronavirus Recovery: Funding under the American Rescue Plan Act (ARPA) made available to state and local governments provided these entities with the resources needed to respond to the pandemic and its economic effects and to build a stronger, more equitable economy during the recovery. NCACED is aware that the virus resulted in systemic public health and economic challenges that may have contributed to more severe impacts of the pandemic among low-income communities and people of color. Therefore, NCACED has been working with local stakeholders who directly experienced these inequities to ensure that their community-driven priorities are represented in local ARPA-planning and strategy development efforts and to promote an approach to funding allocation that identifies and addresses the systemic factors that create barriers to health and health equity.

    Expenses $22,875

As filed on the 2023 return.

Listed in Part VII

  • Susan Perry-Cole

    President

    Total calculated
    $66,290
    From this org
    $60,200
    From related orgs
    $0
    Other
    $6,090
    Hours/week
    40

  • Stephanie Swepson-Twitty

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Arlene Lawson

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Sharon Bey-Christopher

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Carl Manning

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • John Barnes

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Mavis Hill

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Cathy Alston-Kearney

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Joyce Dickens

    Board Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Lenwood Long

    Treasurer

    Total calculated
    $0
    Hours/week
    0.25

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
18 April 2024
IRS schema version
2023v5.0
Source object
202431139349300518

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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