Form 990 for tax year 2024
Filed by ALAMANCE COUNTY ECONOMIC DEVELOPMENT FOUNDATION.
Totals
- Total revenue
- $375,751
- Total expenses
- $370,701
- Contributions and grants received
- $334,039
- Grants paid
- $98,718
- Program service revenue
- $0
- Investment income
- $41,712
- Other revenue
- $0
- Total assets, end of year
- $1,482,470
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $1,482,470
- Program services expenses (Part IX)
- $341,064
- Management and general expenses
- $29,637
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $341,064
Program services were 92.0% 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
$334,039
-
3 · Investment income
total $41,712 · excluded $41,712
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $98,718 · program services $98,718
-
7 · Other salaries and wages
total $130,498 · program services $130,498
-
8 · Pension plan contributions
total $6,212 · program services $6,212
-
9 · Other employee benefits
total $21,931 · program services $21,931
-
10 · Payroll taxes
total $10,024 · program services $10,024
-
11c · Fees: accounting
total $3,165 · management and general $3,165
-
11g · Fees: other
total $966 · program services $483 · management and general $483
-
12 · Advertising and promotion
total $380 · management and general $380
-
13 · Office expenses
total $1,805 · management and general $1,805
-
17 · Travel
total $3,000 · program services $3,000
-
22 · Depreciation, depletion and amortization
total $285 · management and general $285
-
24a · Other expenses: FACILITY EXPENSES
total $38,182 · program services $38,182
-
24b · Other expenses: APPRENTICE ALAMANCE/CAP
total $18,889 · program services $18,889
-
24c · Other expenses: MEALS & ENTERTAINMENT
total $11,874 · management and general $11,874
-
24d · Other expenses: PROJECT EXPENSES
total $11,346 · program services $11,346
-
24e · All other expenses
total $13,426 · program services $1,781 · management and general $11,645
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $334,633 · end of year $91,052
-
2 · Savings and temporary cash investments
beginning of year $1,119,027 · end of year $1,390,704
-
10a · Land, buildings and equipment: cost or other basis
$6,964
-
10b · Land, buildings and equipment: accumulated depreciation
$6,250
-
10c · Land, buildings and equipment, net
beginning of year $999 · end of year $714
-
27 · Net assets without donor restrictions
beginning of year $1,423,956 · end of year $1,434,238
-
28 · Net assets with donor restrictions
beginning of year $30,703 · end of year $48,232
Mission and programs · 2024
Mission
THE MISSION OF THE FOUNDATION IS TO ENHANCE THE WELFARE OF BUSINESS AND TO PROMOTE AND STIMULATE ECONOMIC VITALITY IN THE ALAMANCE COUNTY AREA FOR THE BENEFIT OF ITS MEMBERS AND THE COMMUNITY.
-
THE FOUNDATION'S ACTIVITIES SEEK TO INCREASE JOBS AND NEW INVESTMENT IN THE ALAMANCE COUNTY AREA AND TO ASSIST IN AND FACILITATE THE GROWTH OF JOBS AND INVESTMENT IN EXISTING INDUSTRY IN THE AREA THROUGH MARKETING, RESEARCH, AND PUBLIC/MEDIA RELATIONS. IN 2024, THE FOUNDATION AWARDED 7 GROWTH GRANTS AND 3 LAUNCH GRANTS, TOTALING $80,0000.
Expenses $341,064 · Grants $98,718
As filed on the 2024 return.
Listed in Part VII
-
Reagan GuralREAGAN GURAL
PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
-
Patricia RhodesPATRICIA RHODES
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Doug HymanDOUG HYMAN
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Ed HooksED HOOKS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Griffin McClureGRIFFIN MCCLURE
CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Greg LunsfordGREG LUNSFORD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ted ChandlerTED CHANDLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tom McGowenTOM MCGOWEN
DIRECTOR - NON-VOTING
- Total calculated
- $0
- Hours/week
- 1
-
Patrick NoltemeyerPATRICK NOLTEMEYER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Marta MoosMARTA MOOS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ryan MoffittRYAN MOFFITT
DIRECTOR
- 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
-
MAKE NICE LLC
$15,000
2024 GROWTH GRANT RECIPIENT
-
RAN-LEW DAIRY MILK COMPANY LLC
$15,000
2024 GROWTH GRANT RECIPIENT
-
TO REIMBURSE THE CHAMBER FOR EXCELLENCE IN EDUCATION TEACHER OF THE YEAR EXPENSES.
-
CITYGATE DREAM CENTER
$10,000
2024 GROWTH GRANT RECIPIENT
-
HAAND INC
$9,000
2024 GROWTH GRANT RECIPIENT
-
64 HARVARD
$8,000
2024 GROWTH GRANT RECIPIENT
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 3 August 2025
- IRS schema version
- 2024v5.2
- Source object
- 202502169349301035
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