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Nonprofiteer
← ROANOKE ECONOMIC DEVELOPMENT INCORPORATED

Form 990 for tax year 2023

Filed by ROANOKE ECONOMIC DEVELOPMENT INCORPORATED.

Totals

Total revenue
$766,357
Total expenses
$953,693
Contributions and grants received
$711,629
Grants paid
$0
Program service revenue
$54,728
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,414,748
Total liabilities, end of year
$3,038,593
Net assets or fund balances, end of year
-$1,623,845
Program services expenses (Part IX)
$723,112
Management and general expenses
$230,581
Fundraising expenses
$0
Program service expenses (Part III)
$723,112

Program services were 75.8% 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

    $711,629

  • 2a · Program service revenue: THE ROANOKE CENTER

    total $40,218 · related or exempt $40,218

  • 2b · Program service revenue: MISCELLANOUS

    total $14,510 · related or exempt $14,510

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $297,630 · program services $142,696 · management and general $154,934

  • 11c · Fees: accounting

    total $6,000 · management and general $6,000

  • 12 · Advertising and promotion

    total $32,314 · program services $32,314

  • 13 · Office expenses

    total $1,165 · program services $1,146 · management and general $19

  • 14 · Information technology

    total $47,873 · program services $7,780 · management and general $40,093

  • 17 · Travel

    total $39,340 · program services $39,256 · management and general $84

  • 19 · Conferences, conventions and meetings

    total $32,471 · program services $32,471

  • 24a · Other expenses: GRANT ADMIN, EXPENSE

    total $487,829 · program services $462,566 · management and general $25,263

  • 24b · Other expenses: SUPPLIES

    total $8,590 · program services $4,883 · management and general $3,707

  • 24c · Other expenses: UTILITIES

    total $481 · management and general $481

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,448,762 · end of year $1,293,561

  • 4 · Accounts receivable

    beginning of year $115,636 · end of year $121,126

  • 9 · Prepaid expenses and deferred charges

    beginning of year $60 · end of year $61

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,997,387 · end of year $3,037,993

  • 24 · Unsecured notes and loans payable

    beginning of year $3,580 · end of year $600

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$1,436,509 · end of year -$1,623,845

Mission and programs · 2023

Mission

THIS CORPORATION IS ORGANIZED FOR THE FOLLOWING PURPOSES: CHARITABLE, EDUCATIONAL, SCIENTIFIC, INDULGING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER THE SECTIONS 501(C)(3) AND 170(C)(2) OF THE INTERNAL REVENUE CODE OF 1986.

Activities or mission (Part I)

THIS CORPORATION IS ORGANIZED FOR THE FOLLOWING PURPOSES: CHARITABLE, EDUCATIONAL, SCIENTIFIC, INDULGING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTIONS 501(C)(3) AND 170(C)(2) OF THE INTERNAL REVENUE CODE OF 1986.

  • THIS CORPORATION IS ORGANIZED FOR THE FOLLOWING PURPOSES: CHARITABLE, EDUCATIONAL, SCIENTIFIC, INDULGING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER THE SECTIONS 501(C)(3) AND 170(C)(2) OF THE INTERNAL REVENUE CODE OF 1986.

    Expenses $723,112

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Allen W Speller

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Robert Nriddick

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Delores H Amason

    SEC./TREASUR

    Total calculated
    $0
    Hours/week
    1

  • Darnell Lee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Jernigan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marva Bond

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carolyn D Bradley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Columbus Jeffers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cindy Vaughan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marshall Cherry

    PRESIDENT &

    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.

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
1 November 2024
IRS schema version
2023v5.0
Source object
202403169349304240

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