Sanford-Lee County Partnership For Prosperity
- Assets
- $1.6m
- Revenue
- $878.2k
- Investments
- $0.0
- Employees
- 10
- Location
- Sanford, NC
- Founding
- 06/1982
- Data as of
- 06/2022
- EIN
- 56-1459769
Organization Overview
Sanford-Lee County Partnership For Prosperity is located in Sanford, NC. The organization was established in 1982. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Sanford-Lee County Partnership For Prosperity employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sanford-Lee County Partnership For Prosperity 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 06/2022, Sanford-Lee County Partnership For Prosperity generated $878.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $878.6k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.9%) per year over the past 2 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS FORMED TO FOSTER AND PROMOTE BUSINESS AND INDUSTRY IN LEE COUNTY AND TO INDUCE THE LOCATING OF COMMERCIAL AND INDUSTRIAL PROSPECTS WITHIN THE COUNTY TO ALLEVIATE UNEMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHAMBER ACTIVITY--BUSINESS DEVELOPMENT, ADVOCACY AND PROMOTION, IMPROVING THE COMMUNITY AND EDUCATION. THE CHAMBER IS A RESOURCE FOR MEMBERS OPENING A NEW BUSINESS, RE-LAUNCHING AN EXISTING BUSINESS OR FINDING EMPLOYEES FOR A RELOCATING BUSINESS. THE CHAMBER IS ACTIVELY INVOLVED IN ACTIVITIES THAT IMPROVE THE QUALITY OF LIFE IN THE AREA TO INSURE LOCAL BUSINESS GROWTH. THE CHAMBER'S CONGRESSIONAL ACTION COMMITTEE KEEPS TRACK OF LEGISLATION AND IS THE VOICE OF SUPPORT AND CONCERN TO BOTH STATE AND NATIONAL REPRESENTATIVES. THROUGH AN INTERNSHIP PROGRAM, THE SPEAKERS BUREAU, AND "LEADERSHIP SANFORD" TRAINING PROGRAMS, THE CHAMBER HELPS TO DEVELOP COMMUNITY LEADERS FOR TODAY AND THE FUTURE. THE CHAMBER PROMOTES EDUCATIONAL ACHIEVEMENT AND OPPORTUNITIES IN THE COMMUNITY IN ORDER TO INCREASE THE APPEAL OF SANFORD, BOTH TO INDIVIDUALS AND BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Randolph CEO | OfficerTrustee | 40 | $107,169 |
April Montgomery Chair | OfficerTrustee | 2 | $0 |
Jimmy Keen Vice Chair | OfficerTrustee | 2 | $0 |
Bill Wilson Secretary | OfficerTrustee | 2 | $0 |
Charlie Welborn Treasurer | OfficerTrustee | 2 | $0 |
Kirk Bradley Past Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $171,490 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $552,812 |
| All other contributions, gifts, grants, and similar amounts not included above | $117,757 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $842,059 |
| Total Program Service Revenue | $35,788 |
| Investment income | $306 |
| 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 | $878,153 |
| 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. | $118,332 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $329,051 |
| Pension plan accruals and contributions | $6,199 |
| Other employee benefits | $19,344 |
| Payroll taxes | $35,164 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,922 |
| Fees for services: Accounting | $18,935 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $80,949 |
| Office expenses | $8,338 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,133 |
| Travel | $31,596 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,098 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,107 |
| Insurance | $8,489 |
| All other expenses | $18,144 |
| Total functional expenses | $878,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $465,355 |
| Savings and temporary cash investments | $204,291 |
| Pledges and grants receivable | $576,411 |
| 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 | $3,210 |
| Net Land, buildings, and equipment | $346,960 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,596,227 |
| Accounts payable and accrued expenses | $62,683 |
| Grants payable | $0 |
| Deferred revenue | $86,773 |
| 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 | $0 |
| Total liabilities | $149,456 |
| Net assets without donor restrictions | $621,623 |
| Net assets with donor restrictions | $825,148 |
| 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 | $1,596,227 |