Tri-County Industries Inc
- Assets
- $4.3m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 152
- Location
- Rocky Mount, NC
- Founding
- 01/1967
- Data as of
- 06/2023
- EIN
- 56-0859662
Organization Overview
Tri-County Industries Inc is located in Rocky Mount, NC. The organization was established in 1967. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 06/2023, Tri-County Industries Inc employed 152 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-County Industries 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 06/2023, Tri-County Industries Inc generated $2.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $2.7m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 8 years. 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
TCI IS DEDICATED TO ENHANCING THE LIVES OF PEOPLE WHO ARE DISABLED OR DISADVANTAGED THROUGH WORK ASSESSMENT, JOB TRAINING, AND JOB PLACEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOCATIONAL REHABILITATION SERVICES (VR) PROVIDES ASSESSMENT, WORK TRAINING, JOB DEVELOPMENT, JOB PLACEMENT, JOB COACHING AND FOLLOW UP SERVICES TO PERSONS WITH DISABILITIES. THE PROGRAM IS BROKEN DOWN INTO TWO SUBGROUPS: ASSESSMENT AND EMPLOYMENT COACHING SERVICES. ASSESSMENT -- SERVED 6 INDIVIDUALS GOALS: MAXIMIZE PROGRAM COMPLETERS -- GOAL 90%, ACTUAL 87% MAXIMIZE SATISFACTION WITH SERVICES -- GOAL 90%; ACTUAL 100% EMPLOYMENT COACHING SERVICES (INCLUDES JOB DEVELOPMENT, JOB PLACEMENT AND JOB COACHING SERVICES). SERVED 26 GOALS: MAXIMIZE NUMBER OF MAJOR BENEFITS -- GOAL 24; ACTUAL 11 MAXIMIZE CLIENT EARNINGS -- GOAL 10.00 HOUR; ACTUAL 10.03 HOUR MAXIMIZE NUMBER OF SUCCESSFUL EMPLOYMENT OUTCOMES -- GOAL 17; ACTUAL 8 MAXIMIZE SATISFACTION WITH SERVICES -- GOAL 90%, ACTUAL 92%
ADULT DEVELOPMENT AND VOCATIONAL PROGRAM (ADVP)/COMMUNITY LIVING FACILITIES & SUPPORT (CLFS) SERVES INDIVIDUALS WITH SIGNIFICANT DEVELOPMENTAL DISABILITIES. THIS IS A LONG-TERM PROGRAM THAT PROVIDES WORK TRAINING, COMPENSATORY EDUCATION, VOLUNTEER OPPORTUNITIES AND SENIOR SERVICES. INDIVIDUALS SERVED -- 53. GOALS: MAXIMIZE ATTENDANCE TO 80% -- GOAL 80%; ACTUAL 87% MAXIMIZE NUMBER OF CLIENTS WHO PARTICIPATE IN A MINIMUM OF TWO INCLUSION ACTIVITIES -- GOAL 85%; ACTUAL - 83% MAXIMIZE SATISFACTION WITH SERVICES -- GOAL 90%; ACTUAL 100%
PRODUCTION ACTIVITIES PROVIDE WORK TRAINING, INCLUDING ASSEMBLY, INSPECTION, MATERIAL HANDLING AND HOUSEKEEPING, TO PERSONS WITH DISABILITIES AND DISADVANTAGES. CLIENTS PERFORM WORK FOR AREA INDUSTRIES SUCH AS ABB, PRYSMIAN CABLES AND SYSTEM USA, LLC, ROCKY MOUNT ENGINE PLANT, ROCKY MOUNT CORD, AIR SYSTEM COMPONENTS, EASTERN HYDRAULIC AND HOSPIRA. PRODUCTION ACTIVITIES NOT ONLY PROVIDE WAGES FOR INDIVIDUALS, IT IS THE MEANS TO TEACH APPROPRIATE WORK BEHAVIORS ANDTHE IMPORTANCE OF GOOD QUALITY WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Sharpe President | Officer | 36 | $73,257 |
Jeanna Bryan Finance Dire | Officer | 36 | $38,249 |
Kristeena Beasley Director | Trustee | 0.2 | $0 |
Michelle Chewning Director | Trustee | 0.2 | $0 |
Margaet Claytor Chairman | Trustee | 0.8 | $0 |
Gusty Coats Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $10,269 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,099,545 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,343 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,123,157 |
| Total Program Service Revenue | $35,700 |
| Investment income | $19,457 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,186 |
| Net Income from Fundraising Events | $17,197 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,539,947 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,759,644 |
| 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. | $117,359 |
| Compensation of current officers, directors, key employees. | $117,359 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,113,237 |
| Pension plan accruals and contributions | $42,998 |
| Other employee benefits | $363,357 |
| Payroll taxes | $203,927 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $93,011 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $180,238 |
| Travel | $19,512 |
| 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 | $57,420 |
| Insurance | $0 |
| All other expenses | $69,110 |
| Total functional expenses | $2,736,965 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $773,676 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $590,783 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $32,782 |
| Prepaid expenses and deferred charges | $9,543 |
| Net Land, buildings, and equipment | $650,039 |
| Investments—publicly traded securities | $2,095,793 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $190,964 |
| Total assets | $4,343,580 |
| Accounts payable and accrued expenses | $132,209 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $293,000 |
| Total liabilities | $425,209 |
| Net assets without donor restrictions | $3,918,371 |
| 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 | $4,343,580 |