Surry County Economic Development Partnership Inc
- Assets
- $321.9k
- Revenue
- $330.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Mount Airy, NC
- Founding
- 04/1996
- Data as of
- 06/2021
- EIN
- 56-1946934
Organization Overview
Surry County Economic Development Partnership Inc is located in Mount Airy, NC. The organization was established in 1996. 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 06/2021, Surry County Economic Development Partnership Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Surry County Economic Development 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 06/2021, Surry County Economic Development Partnership Inc generated $330.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $317.1k during the year ending 06/2021. While expenses have increased by 1.0% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC DEVELOPMENT IN SURRY COUNTY, NORTH CAROLINA, BY SUPPORTING EXISTING BUSINESSES AND INDUSTRY SO THEY WILL CONTINUE TO THRIVE AND GROW, AND TO ATTRACT NEW BUSINESSES AND INDUSTRY TO THE AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTED WITH INDUSTRY EXPANSION PROJECTS IN SURRY COUNTY. CONTRIBUTIONS RECEIVED FOR THE YEAR ENDED 06/30/2021 WERE $330,608, FUNCTIONAL EXPENSES WERE $317,060 AND OTHER PROGRAM SERVICE REVENUE WAS $120.
CONDUCTED INDUSTRY APPRECIATION WEEK
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Tucker President | OfficerTrustee | 40 | $123,717 |
Richie Parker Chairman | OfficerTrustee | 1 | $0 |
Ron Sutphin Treasurer | OfficerTrustee | 1 | $0 |
Peter Pequeno Vice Chairman | OfficerTrustee | 1 | $0 |
Chris Lumsden Secretary | OfficerTrustee | 1 | $0 |
Dr David Shockley Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $247,808 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $330,608 |
| Total Program Service Revenue | $0 |
| Investment income | $120 |
| 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 | $330,728 |
| 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 | $219,538 |
| Pension plan accruals and contributions | $7,000 |
| Other employee benefits | $0 |
| Payroll taxes | $16,542 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $63 |
| Advertising and promotion | $12,705 |
| Office expenses | $269 |
| Information technology | $5,426 |
| Royalties | $0 |
| Occupancy | $15,414 |
| Travel | $5,701 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $99 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,222 |
| Insurance | $3,319 |
| All other expenses | $1,833 |
| Total functional expenses | $317,060 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $317,462 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $500 |
| Accounts receivable, net | $2,482 |
| 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 | $1,488 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $321,932 |
| Accounts payable and accrued expenses | $16,295 |
| 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 | $0 |
| Total liabilities | $16,295 |
| Net assets without donor restrictions | $180,137 |
| Net assets with donor restrictions | $125,500 |
| 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 | $321,932 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Surry County Economic Development Partnership Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
The Duke Energy Foundation Charlotte, NC PURPOSE: COVID-19 RESPONSE | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christian Community Development Corporation Inc Memphis, TN | $275,024,548 | $28,566,509 |
Csra Economic Opportunity Authority Inc Augusta, GA | $4,657,645 | $27,091,304 |
Charleston Area Convention & Visitors Bureau Charleston, SC | $17,210,458 | $29,781,081 |
Neighborhood Improvement Project Inc Augusta, GA | $12,770,161 | $24,738,698 |
Action Pact Inc Waycross, GA | $10,194,672 | $25,026,911 |
Upper East Tennessee Human Development Agency Kingsport, TN | $7,143,102 | $23,146,809 |
Hampton Roads Community Action Program Inc Newport News, VA | $4,977,691 | $24,100,051 |
Northwest Tennessee Economic Development Council Dresden, TN | $2,980,191 | $21,895,121 |
Tallatoona Community Action Partnership Inc Cartersville, GA | $2,878,907 | $21,403,724 |
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Waccamaw Economic Opportunity Council Inc Conway, SC | $5,439,118 | $14,126,176 |