Isothermal Planning And Development Corporation
- Assets
- $4.2m
- Revenue
- $12.8m
- Investments
- $622.8k
- Employees
- 81
- Location
- Rutherfordton, NC
- Founding
- 02/1975
- Data as of
- 06/2022
- EIN
- 56-1074128
Organization Overview
Isothermal Planning And Development Corporation is located in Rutherfordton, NC. The organization was established in 1975. As of 06/2022, Isothermal Planning And Development Corporation employed 81 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Isothermal Planning And Development Corporation 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 06/2022, Isothermal Planning And Development Corporation generated $12.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $12.4m during the year ending 06/2022. While expenses have increased by 0.1% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ADMINISTER A WIDE VARIETY OF GOVERNMENT GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ISOTHERMAL PLANNING AND DEVELOPMENT COMMISSION ADMINISTERS GOVERNMENTAL GRANTS TO A FOUR-COUNTY REGION FOR HOUSING PROGRAMS. THE EXPENSES SHOWN ARE INCURRED IN THE OPERATION OF THE PROGRAM.
ISOTHERMAL PLANNING AND DEVELOPMENT COMMISSION ADMINISTERS GOVERNMENTAL GRANTS TO A FOUR-COUNTY REGION FOR A VARIETY OF OTHER PROGRAMS. THE EXPENSES SHOWN ARE INCURRED IN THE OPERATION OF THE PROGRAMS. EXPENSES 563,240 INCLUDING GRANTS OF 0 AND REVENUES OF 781,307.
ISOTHERMAL PLANNING AND DEVELOPMENT COMMISSION ADMINISTERS GOVERNMENTAL GRANTS TO A FOUR-COUNTY REGION FOR WORKFORCE DEVELOPMENT. THE EXPENSES SHOWN ARE INCURRED IN THE OPERATION OF THE PROGRAM.
ISOTHERMAL PLANNING AND DEVELOPMENT COMMISSION ADMINISTERS GOVERNMENTAL GRANTS TO A FOUR-COUNTY REGION FOR SERVICES TO THE AGING. THE EXPENSES SHOWN ARE INCURRED IN THE OPERATION OF THE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Baisden Chairman | OfficerTrustee | 5 | $0 |
Max Hopper Vice Chair | OfficerTrustee | 2 | $0 |
Bryan King Secretary | OfficerTrustee | 1 | $0 |
Robert Boyette Director | Trustee | 1 | $0 |
Dean Buff Director | Trustee | 1 | $0 |
Justin Connor Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
P&l Enterprises Sec 8 Housing | 6/29/21 | $165,069 |
Joseph Dale Spangler C/o Champion Investments Sec 8 Housing | 6/29/21 | $234,966 |
Ipi Caitlin Station Lp Sec 8 Housing | 6/29/21 | $205,356 |
Vista Grand Multi Housing Llc Sec 8 Housing | 6/29/21 | $250,770 |
Slaxmi Llc Dba Sl Assets Management Sec 8 Housing | 6/29/21 | $215,061 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| 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 | $0 |
| Total Program Service Revenue | $12,785,105 |
| Investment income | $858 |
| 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 | $12,785,963 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,536,143 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,524,446 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $475,638 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,430 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,083,738 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $98,974 |
| Royalties | $0 |
| Occupancy | $175,626 |
| Travel | $27,066 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,804 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,277 |
| Insurance | $42,127 |
| All other expenses | $53,962 |
| Total functional expenses | $12,409,223 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $650,945 |
| Savings and temporary cash investments | $699,449 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,344,091 |
| 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 | $53,404 |
| Net Land, buildings, and equipment | $177,109 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $622,817 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $663,264 |
| Total assets | $4,211,079 |
| Accounts payable and accrued expenses | $1,405,961 |
| Grants payable | $0 |
| Deferred revenue | $186,993 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $21,473 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $24,043 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $752,346 |
| Total liabilities | $2,390,816 |
| Net assets without donor restrictions | $1,820,263 |
| 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 | $4,211,079 |