Form 990 for tax year 2025
Filed by NORTH CAROLINA EMPLOYEE OWNERSHIP CENTER.
Totals
- Total revenue
- $320,891
- Total expenses
- $224,741
- Contributions and grants received
- $304,829
- Grants paid
- $0
- Program service revenue
- $12,500
- Investment income
- $312
- Other revenue
- $3,250
- Total assets, end of year
- $274,676
- Total liabilities, end of year
- $5,422
- Net assets or fund balances, end of year
- $269,254
- Program services expenses (Part IX)
- $115,779
- Management and general expenses
- $69,958
- Fundraising expenses
- $39,004
- Program service expenses (Part III)
- $115,779
Program services were 51.5% 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
$304,829
-
2a · Program service revenue: Consulting Services
total $12,500 · related or exempt $12,500
-
3 · Investment income
total $312 · excluded $312
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Sponsorship Income
total $3,250 · related or exempt $3,250
-
11e · Other revenue, total
$3,250
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $66,667 · program services $46,667 · management and general $13,333 · fundraising $6,667
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $16,200 · program services $14,200 · management and general $2,000
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $149 · management and general $149
-
10 · Payroll taxes
total $6,251 · management and general $6,251
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $9,555 · management and general $9,555
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $18,000 · fundraising $18,000
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $76,115 · program services $46,526 · management and general $18,348 · fundraising $11,241
-
12 · Advertising and promotion
total $6,982 · program services $2,820 · management and general $4,162
-
13 · Office expenses
total $524 · program services $266 · management and general $258
-
14 · Information technology
total $4,746 · program services $368 · management and general $3,729 · fundraising $649
-
15 · Royalties
total $0
-
16 · Occupancy
total $1,453 · management and general $1,453
-
17 · Travel
total $5,398 · program services $3,000 · management and general $2,398
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $3,094 · program services $1,301 · management and general $1,793
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $831 · management and general $831
-
24a · Other expenses: Dues & Subscriptions
total $3,942 · management and general $1,674 · fundraising $2,268
-
24b · Other expenses: Event Expenses
total $2,497 · management and general $2,497
-
24c · Other expenses: Bank & Payment Processing Fees
total $1,052 · management and general $973 · fundraising $79
-
24d · Other expenses: Program Expenses
total $400 · program services $400
-
24e · All other expenses
total $885 · program services $231 · management and general $554 · fundraising $100
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $173,399 · end of year $170,026
-
2 · Savings and temporary cash investments
end of year $104,649
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $1
-
17 · Accounts payable and accrued expenses
beginning of year $8,700
-
25 · Other liabilities
end of year $5,422
-
27 · Net assets without donor restrictions
beginning of year $164,699 · end of year $269,254
Mission and programs · 2025
Mission
THE NORTH CAROLINA EMPLOYEE OWNERSHIP CENTER IS AN EDUCATIONAL NONPROFIT WHOSE MISSION IS TO PROTECT JOBS, INCREASE COMMUNITY WEALTH, AND CREATE A MORE VIBRANT, INCLUSIVE ECONOMY THROUGH EMPLOYEE OWNERSHIP.
Activities or mission (Part I)
PROTECT JOBS, INCREASE COMMUNITY WEALTH, & CREATE A MORE INCLUSIVE ECONOMY THROUGH EMPLOYEE OWNERSHIP.
-
THE NORTH CAROLINA EMPLOYEE OWNERSHIP CENTER (NCEOC) SEEKS TO EXPAND THE NUMBER OF EMPLOYEE OWNED BUSINESSES IN NORTH CAROLINA. WE DO THIS THROUGH EDUCATING BUSINESS OWNERS, TRUSTED ADVISORS AND OTHER SUPPORTERS AS WELL AS SUPPORTING BUSINESS OWNERS AS THEY CONTEMPLATE THEIR EXIT PLAN OR CONSIDER OTHER REASONS TO CONVERT SOME OF ALL OF THEIR BUSINESS TO EMPLOYEE OWNERSHIP. WE FORMALIZED A PARTNERSHIP CALLED ROOTS WHICH INCLUDES: MOUNTAIN BIZWORKS AND THE INDUSTRIAL COMMONS TO HELP SUPPORT SMALL AND MEDIUM SIZED BUSINESS OWNERS IN WESTERN NORTH CAROLINA WHERE THE NEED IS EXACERBATED BY HURRICANE HELENE EFFECTS. 2025 ACTIVITIES: -CONDUCTED 40 PRESENTATIONS WITH OVER 600 ATTENDEES, -HAD 130 MEETINGS WITH POTENTIAL PARTNERS -SPOKE OR EXHIBITED AT 5 CONFERENCES -MET WITH 10 BUSINESS OWNERS LOOKING AT CONVERTING TO EMPLOYEE OWNED BUSINESS MODELS -REFERRED 7 BUSINESSES TO SERVICE PROVIDERS TO HELP THEM ACHIEVE THEIR GOALS -CONDUCTED 2 "AMBASSADOR" WEBINAR SERIES -OFFERED 3 CE CREDIT SESSIONS FOR EXIT PLANNERS, FINANCIAL PLANNERS AND ADVISORS -HELD SEVERAL "LUNCH AND LEARN" SESSIONS WITH BANKERS, SBTDC REGIONAL OFFICES AND ENTREPRENEURIAL INCUBATORS.
Expenses $115,779 · Revenue $12,500
As filed on the 2025 return.
Listed in Part VII
-
Illa BurbankILLA BURBANK
Executive Dir.
- Total calculated
- $66,667
- From this org
- $66,667
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Patrick McHughPATRICK MCHUGH
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Gale MarettGALE MARETT
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Zarin KresgeZARIN KRESGE
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Andrew FosterANDREW FOSTER
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Pamela ColleyPAMELA COLLEY
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Merald HollowayMERALD HOLLOWAY
Chairman
- Total calculated
- $0
- Hours/week
- 1
-
La-Tasha Best-GaddyLA-TASHA BEST-GADDY
Treasurer
- Total calculated
- $0
- Hours/week
- 1.5
-
Colin KiserCOLIN KISER
Vice President
- Total calculated
- $0
- Hours/week
- 1
-
Aaron DawsonAARON DAWSON
Secretary
- Total calculated
- $0
- Hours/week
- 1
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 4 May 2026
- IRS schema version
- 2025v4.1
- Source object
- 202601249349301520
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