Wilkes Economic Development Corporation
- Assets
- $1.5m
- Revenue
- $374.6k
- Investments
- $0.0
- Employees
- 2
- Location
- North Wilkesboro, NC
- Founding
- 06/2003
- Data as of
- 06/2021
- EIN
- 56-1957642
Organization Overview
Wilkes Economic Development Corporation is located in North Wilkesboro, NC. The organization was established in 2003. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Wilkes Economic Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wilkes Economic 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 06/2021, Wilkes Economic Development Corporation generated $374.6k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $560.0k during the year ending 06/2021. 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
ECONOMIC DEVELOPMENT OF WILKES COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTING AS AN ADVISORY COUNCIL TO LOCAL GOVERNMENTAL AGENCIES AND BUSINESSES IN WILKES COUNTY, NC, WHERE RECOMMENDATIONS OF GOALS AND OBJECTIVES ARE GIVEN FOR FUTURE ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leeann Nixon President | Officer | 40 | $103,000 |
Robin Hamby Vice Preside | Officer | 40 | $69,850 |
Brett Cothren Chair | OfficerTrustee | 1 | $0 |
Gary Daemer Vice Chair | OfficerTrustee | 1 | $0 |
Shelmer Blackburn Director | Trustee | 1 | $0 |
John Cothern Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $341,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,613 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $356,413 |
| Total Program Service Revenue | $0 |
| Investment income | $4,542 |
| 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 | $374,575 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $177,863 |
| 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. | $172,849 |
| Compensation of current officers, directors, key employees. | $89,562 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,920 |
| Pension plan accruals and contributions | $9,838 |
| Other employee benefits | $23,635 |
| Payroll taxes | $15,498 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,874 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,480 |
| Office expenses | $2,541 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,200 |
| Travel | $354 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,153 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,730 |
| Insurance | $2,370 |
| All other expenses | $19,041 |
| Total functional expenses | $559,982 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $504,997 |
| Savings and temporary cash investments | $482,680 |
| Pledges and grants receivable | $341,800 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $19,498 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,100 |
| Net Land, buildings, and equipment | $43,179 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $74,824 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,468,078 |
| Accounts payable and accrued expenses | $1,517 |
| 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 | $1,517 |
| Net assets without donor restrictions | $638,441 |
| Net assets with donor restrictions | $828,120 |
| 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 | $1,468,078 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wilkes Economic Development Corporation has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
The Golden L E A F Long-Term Economic Advancement Foundation In Rocky Mount, NC PURPOSE: SEE PART IV | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metro Atlanta Host Committee Inc Atlanta, GA | $222,399 | $14,582,853 |
Economic Development Partnership Of North Carolina Inc Raleigh, NC | $8,246,221 | $25,900,688 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Richmond Metropolitan Convention & Vistors Bureau Richmond, VA | $6,099,091 | $8,138,093 |
Knoxville Convention & Visitors Bureau Inc Knoxville, TN | $5,768,468 | $5,619,069 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |