Carolinas Agc Inc
- Assets
- $11.1m
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 18
- Location
- Charlotte, NC
- Founding
- 01/1940
- Data as of
- 12/2023
- EIN
- 56-0126510
Organization Overview
Carolinas Agc Inc is located in Charlotte, NC. The organization was established in 1940. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Carolinas Agc Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolinas Agc Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Carolinas Agc Inc generated $4.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $4.4m during the year ending 12/2023. While expenses have increased by 0.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
BUILDING MEMBERS' BUSINESS THROUGH BUSINESS DEVELOPMENT SERVICES, PROFIT MANAGEMENT AND WORKFORCE DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL MEMBER SERVICES - CAGC CONNECTS OWNERS, DESIGNERS, BIDDERS AND SUBBIDDERS. GOVERNMENT RELATIONS INCLUDE CAROLINAS AGC STAFF INTERACTION WITH VARIOUS LEVELS OF GOVERNMENT AND REGULATORY ENTITIES ON BEHALF OF THE ENTIRE MEMBERSHIP COMMUNITY. EFFORTS INCLUDE THE MONITORING AND INVOLVEMENT OF LEGISLATION AT THE STATE LEVELS ACROSS THE CAROLINAS IN ADDITION TO SUPPORT OF THE NATIONAL AGC AND ARTBA IN MEETINGS AND EVENTS. CAROLINAS AGC HOLDS VARIOUS MEETINGS AND EVENTS PURSUIT OF INDUSTRY GOALS. THERE WERE APPROXIMATELY 800 MEMBERS SERVED IN 2021, INCLUDING PROVIDING INFORMATION AND ASSISTANCE TO ALL MEMBERS IN MULTIPLE MAJOR INDUSTRY DIVISIONS. THESE MEETINGS PROVIDE FOR THE CRITICAL EXCHANGE OF IDEAS AND PERSPECTIVES BETWEEN MEMBERS REGARDING IMPORTANT CURRENT ISSUES IMPACTING THE CONSTRUCTION INDUSTRY.
MEETINGS AND EVENTS - CAROLINAS AGC HOLDS VARIOUS MEETINGS AND EVENTS TO PROVIDE INFORMATION AND ASSISTANCE TO ALL MEMBERS IN MULTIPLE MAJOR INDUSTRY DIVISIONS. THESE MEETINGS PROVIDE FOR THE CRITICAL EXCHANGE OF IDEAS AND PERSPECTIVES BETWEEN MEMBERS REGARDING IMPORTANT CURRENT ISSUES IMPACTING THE CONSTRUCTION INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Simpson President & CEO | Officer | 56 | $335,000 |
Mary Elizabeth Bailey Nc Gov't Relations | 40 | $195,676 | |
Leslie B Clark Sc Gov't Relations | 42 | $165,568 | |
Victor Barbour Nc Gov't Relations | 30 | $141,842 | |
Cindy Phelps Dir. Of Accounting | 40 | $113,950 | |
Chris Smith Building Rep. | Trustee | 7.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Infrastructure Company Accounting/finance | 12/30/23 | $203,460 |
The Grove Park Inn Event Venue | 12/30/23 | $343,675 |
Associated General Contractors Annual Membership Dues | 12/30/23 | $281,300 |
Griffin Charlotte Parkway Lease Space | 12/30/23 | $120,536 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $28,425 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,425 |
| Total Program Service Revenue | $4,517,214 |
| Investment income | $174,833 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $7,615 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,796,436 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $352,610 |
| Compensation of current officers, directors, key employees. | $211,566 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,544,386 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $316,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,057 |
| Fees for services: Other | $32,048 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $222,675 |
| Royalties | $0 |
| Occupancy | $133,154 |
| Travel | $144,361 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,218 |
| Insurance | $33,859 |
| All other expenses | $186,070 |
| Total functional expenses | $4,424,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,517,023 |
| Savings and temporary cash investments | $2,577,539 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $91,501 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,828 |
| Prepaid expenses and deferred charges | $185,245 |
| Net Land, buildings, and equipment | $9,537 |
| Investments—publicly traded securities | $5,558,478 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $186,931 |
| Total assets | $11,132,082 |
| Accounts payable and accrued expenses | $607,785 |
| Grants payable | $0 |
| Deferred revenue | $2,323,228 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $92,357 |
| Total liabilities | $3,023,370 |
| Net assets without donor restrictions | $8,108,712 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,132,082 |