Nash-Edgecombe Economic Development Inc
- Assets
- $2.2m
- Revenue
- $9.5m
- Investments
- $0.0
- Employees
- 145
- Location
- Rocky Mount, NC
- Founding
- 09/1964
- Data as of
- 10/2020
- EIN
- 56-0817561
Organization Overview
Nash-Edgecombe Economic Development Inc is located in Rocky Mount, NC. The organization was established in 1964. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 10/2020, Nash-Edgecombe Economic Development Inc employed 145 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nash-Edgecombe Economic Development Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 10/2020, Nash-Edgecombe Economic Development Inc generated $9.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $9.4m during the year ending 10/2020. While expenses have increased by 2.6% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE GENERAL WELFARE OF THE PEOPLE OF EASTERN NORTH CAROLINA THROUGH PROGRAMS PROVIDING HOUSING AND CHILDCARE ASSISTANCE AS WELL AS POVERTY ELIMINATION STRATEGIES TO DISADVANTAGED POPULATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EARLY CHILDHOOD DEVELOPMENT PROGRAMS - PROVIDE CHILD CARE AND FAMILY SUPPORT SERVICES TO LOW INCOME FAMILIES. THESE PROGRAMS ARE FUNDED BY HEAD START, MORE AT FOUR, CHILD AND ADULT CARE FOOD PROGRAMS.
FAMILY DEVELOPMENT AND SELF-SUFFICIENCY PROGRAMS - PROVIDE SERVICES TO LOW INCOME FAMILIES TO DEVELOP THEIR SELF-SUFFICENCY THROUGH COUNSELING,TRAINING PROGRAMS AND JOB PLACEMENTS. THESE PROGRAMS ARE FUNDED BY THE COMMUNITY SERVICES BLOCK GRANT.
COMMUNITY DEVELOPMENT PROGRAMS - PROVIDE SERVICES TO LOW TO MODERATE INCOME FAMILIES TO OBTAIN STABLE AND PERMANENT HOUSING, INCLUDING RENTAL ASSISTANCE. THESE PROGRAMS ARE FUNDED BY HUD AND GENERAL FUNDS AND CONTRIBUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ginell Rogers Executive Di | Officer | 40 | $101,493 |
Leslie Atkinson Chairman | OfficerTrustee | 1 | $0 |
Stacie Shatzer Vice-Chairma | OfficerTrustee | 1 | $0 |
Fred Belfield Jr Treasurer | OfficerTrustee | 1 | $0 |
Viola Harris Secretary | OfficerTrustee | 1 | $0 |
Amy Pridgen-Hamlett Director | Trustee | 0.75 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,416,028 |
| Investment income | $76 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,450,498 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $2,856,233 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $101,493 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,762,906 |
| Pension plan accruals and contributions | $145,177 |
| Other employee benefits | $1,256,501 |
| Payroll taxes | $324,611 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,211 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,770 |
| Advertising and promotion | $2,921 |
| Office expenses | $66,815 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $152,043 |
| Travel | $40,961 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $20,343 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $129,600 |
| Insurance | $82,144 |
| All other expenses | $0 |
| Total functional expenses | $9,360,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,378 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $564,224 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,230 |
| Total assets | $2,214,551 |
| Accounts payable and accrued expenses | $465,745 |
| Grants payable | $0 |
| Deferred revenue | $260,220 |
| 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 | $363,654 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,089,619 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,124,932 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Nash-Edgecombe Economic Development Inc has recieved totaling $8,392.
| Awarding Organization | Amount |
|---|---|
Wilson County Partnership For Children Inc Wilson, NC PURPOSE: Materials and services to enhance nutrition and physical activity | $8,392 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Richmond Metropolitan Convention & Vistors Bureau Richmond, VA | $6,099,091 | $8,138,093 |
Knoxville Convention & Visitors Bureau Inc Knoxville, TN | $5,768,468 | $5,619,069 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
Columbia Metropolitan Convention And Visitors Bureau Columbia, SC | $6,376,262 | $4,843,981 |