East Carolina Community Development Inc
- Assets
- $21.1m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Beaufort, NC
- Founding
- 05/1995
- Data as of
- 06/2022
- EIN
- 56-1909969
Organization Overview
East Carolina Community Development Inc is located in Beaufort, NC. The organization was established in 1995. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, East Carolina Community Development Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Carolina Community 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 06/2022, East Carolina Community Development Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. While expenses have increased by 10.3% 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
TO IMPROVE AND ENHANCE THE STANDARD OF LIVING OF THE PEOPLE OF NORTH CAROLINA BY PROMOTING SMALL BUSINESS DEVELOPMENT AND DEVELOPING AFFORDABLE HOUSING WITHIN ITS SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONSTRUCTING QUALITY AFFORDABLE HOUSING FOR SENIORS AND FAMILIES, AS WELL AS DEVELOPING A COMMUNITY SERVICE INFRASTRUCTURE TO HANDLE THE GROWING NEEDS OF AN EXPANDING POPULATION BASE.
INTERMEDIARY RELENDING PROGRAM - TO PROVIDE LOAN CAPITAL TO BUSINESSES LOCATED IN RURAL NORTH CAROLINA THROUGH A CONTRACTUAL AGREEMENT WITH THE USDA RURAL DEVELOPMENT.
COMMUNITY HEALTH AND SAFETY - TO PROVIDE NON-MEDICAL SERVICES FOR ELIGIBLE INDIVIDUALS SPECIFICALLY RELATED TO FOOD, HOUSING, TRANSPORTATION, INTERPERSONAL SAFETY, AND TOXIC STRESS INCLUDING ASSISTANCE WITH HOUSING INSPECTIONS AND PROVIDING HEALTHY HOME GOODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith D Walker CEO & President | OfficerTrustee | 40 | $280,590 |
Lynda E Land CFO | Officer | 40 | $111,002 |
Robert Campbell Chairman | OfficerTrustee | 4 | $0 |
David Nateman Secretary/treasurer | OfficerTrustee | 2 | $0 |
Amber K Smith Director | Trustee | 1 | $0 |
Tyisha Teel Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $291,410 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,161 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $341,571 |
| Total Program Service Revenue | $1,796,021 |
| Investment income | $26,996 |
| 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 | $2,164,588 |
| 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. | $330,441 |
| Compensation of current officers, directors, key employees. | $77,629 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $298,338 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $43,987 |
| Payroll taxes | $47,489 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $58,049 |
| Fees for services: Accounting | $78,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $570 |
| Office expenses | $68,094 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $171,606 |
| Travel | $11,959 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $161,454 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $522,351 |
| Insurance | $189,057 |
| All other expenses | $45,790 |
| Total functional expenses | $2,596,811 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $329,538 |
| Savings and temporary cash investments | $1,426,936 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $351,276 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $657,872 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $50,569 |
| Net Land, buildings, and equipment | $12,622,688 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,617,456 |
| Total assets | $21,056,335 |
| Accounts payable and accrued expenses | $633,373 |
| 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 | $11,575,556 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $138,520 |
| Total liabilities | $12,347,449 |
| Net assets without donor restrictions | $3,158,645 |
| Net assets with donor restrictions | $5,550,241 |
| 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 | $21,056,335 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Choanoke Area Development Assoc Rich Square, NC | $3,243,319 | $10,393,050 |
Association For Retarded Citizens Housing Development Services Inc Greensboro, NC | $38,855,283 | $9,434,004 |
Twin Rivers Opportunities Inc New Bern, NC | $1,111,953 | $5,873,122 |
John Sparks Manor Inc Union City, GA | $0 | $5,675,234 |
Larry Moore Manor Inc Union City, GA | $0 | $4,277,912 |
Lewinsville Retirement Residence McLean, VA | $23,915,511 | $4,142,115 |
Rhg-Afforable Housing Ii Inc Atlanta, GA | $13,550,062 | $7,175,901 |
Broadway Towers Inc Atlanta, GA | $17,531,706 | $3,119,210 |
Partners In Hope Inc Myrtle Beach, SC | $10,489,405 | $3,015,967 |
C O R E Programs Inc Charlotte, NC | $3,904,146 | $3,649,405 |
Santee Lynches Affordable Housing And Community Development Corp Sumter, SC | $22,034,704 | $3,598,391 |
Clairmont Oaks Inc Decatur, GA | $12,058,022 | $3,642,909 |