Southeastern Partnership Inc
- Assets
- $3.8m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 5
- Location
- Elizabethtown, NC
- Founding
- 07/1995
- Data as of
- 06/2024
- EIN
- 56-1911431
Organization Overview
Southeastern Partnership Inc is located in Elizabethtown, NC. The organization was established in 1995. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, Southeastern Partnership Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern Partnership Inc 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 06/2024, Southeastern Partnership Inc generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 28.2% each year . All expenses for the organization totaled $3.8m during the year ending 06/2024. While expenses have increased by 29.6% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
ATTRACT AND IMPROVE INDUSTRY IN THE REGION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF THE REGION - SOUTHEASTERN NORTH CAROLINA
PROMOTION OF THE REGION - SOUTHEASTERN NORTH CAROLINA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joann Anderson Director | Trustee | $0 | |
Steven K Blanchard Director | Trustee | $0 | |
Pamela H Bostic Director | Trustee | $0 | |
Spence Broadhurst Director | Trustee | $0 | |
Aaron Brott Director | Trustee | $0 | |
Allen Bryant Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,842,476 |
| 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 | $2,842,476 |
| Total Program Service Revenue | $922,605 |
| Investment income | $8,297 |
| 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 | $3,773,378 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $518,042 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $8,322 |
| Information technology | $15,254 |
| Royalties | $0 |
| Occupancy | $5,104 |
| Travel | $52,450 |
| 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 | $0 |
| Insurance | $6,040 |
| All other expenses | $75,690 |
| Total functional expenses | $3,830,084 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,771,130 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,463 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,802,593 |
| Accounts payable and accrued expenses | $30,832 |
| Grants payable | $0 |
| Deferred revenue | $3,365,658 |
| 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 | $3,396,490 |
| Net assets without donor restrictions | $406,103 |
| 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 | $3,802,593 |