Education And Research Consortium Of Western North Carolina
- Assets
- $24.9m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 12
- Location
- Asheville, NC
- Founding
- 10/1999
- Data as of
- 12/2020
- EIN
- 56-2150550
Organization Overview
Education And Research Consortium Of Western North Carolina is located in Asheville, NC. The organization was established in 1999. According to its NTEE Classification (U05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Education And Research Consortium Of Western North Carolina employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Education And Research Consortium Of Western North Carolina 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 12/2020, Education And Research Consortium Of Western North Carolina generated $7.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $5.1m during the year ending 12/2020. While expenses have increased by 6.7% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER ECONOMIC DEVELOPMENT IN THE WESTERN CAROLINAS THROUGH EDUCATION, INFRASTRUCTURE AND CAPITAL DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT ACHIEVEMENT THROUGH EDUCATION,CONSTRUCTING INFRASTRUCTURE AND CAPITAL DEVELOPMENT PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hunter M Goosmann Exec. Dir. | Officer | 40 | $138,502 |
Bradley J Cain Cio/coo | Officer | 40 | $124,256 |
Don Cline Member | Trustee | 0.25 | $0 |
John Connet Member | Trustee | 0.25 | $0 |
Troy Tolle Treasurer | Trustee | 0.25 | $0 |
Dr Paul Maurer Member | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lit Networks Broadband | 12/30/21 | $156,029 |
Mc Communications Broadband | 12/30/21 | $836,912 |
Cisco Systems Equipment | 12/30/21 | $258,524 |
Country Cablevision Broadband | 12/30/21 | $136,019 |
Cci Systems Broadband | 12/30/21 | $108,589 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $236,030 |
| 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 | $236,030 |
| Total Program Service Revenue | $6,671,160 |
| Investment income | $21,441 |
| 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 | $7,143,878 |
| 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. | $672,009 |
| Compensation of current officers, directors, key employees. | $490,566 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $424,108 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $248,915 |
| Payroll taxes | $82,535 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,546 |
| Fees for services: Accounting | $47,561 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,408 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,423 |
| Interest | $281,787 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,337,812 |
| Insurance | $30,742 |
| All other expenses | -$17,493 |
| Total functional expenses | $5,110,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $160,145 |
| Savings and temporary cash investments | $46,788 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $195,493 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $90,660 |
| Net Land, buildings, and equipment | $19,127,225 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,223,734 |
| Total assets | $24,894,045 |
| Accounts payable and accrued expenses | $613,291 |
| Grants payable | $0 |
| Deferred revenue | $1,616,438 |
| 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 | $3,386,753 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,464,427 |
| Total liabilities | $8,080,909 |
| Net assets without donor restrictions | $16,813,136 |
| 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 | $24,894,045 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Education And Research Consortium Of Western North Carolina has recieved totaling $174,429.
| Awarding Organization | Amount |
|---|---|
The Golden L E A F Long-Term Economic Advancement Foundation In Rocky Mount, NC PURPOSE: See Part IV | $174,429 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Virginia Tech Applied Research Corporation Arlington, VA | $4,609,993 | $12,977,041 |
Education And Research Consortium Of Western North Carolina Asheville, NC | $24,894,045 | $7,143,878 |
Baptist Clinical Research Institute Inc Memphis, TN | $153,363 | $1,977,517 |
Bent Creek Institute Inc Asheville, NC | $201,660 | $266,886 |
International Technology Center Rtp, NC | $418,325 | $139,024 |
Region 2000 Research Institute Forest, VA | $0 | $7,587 |
Washington Center For Technology Policy Inclusion Fairfax, VA | $78,514 | $0 |
Technology Management Institute Inc Falls Church, VA | $117,586 | $156,751 |
Reimagine Science Annandale, VA | $8,850 | $0 |
Gender And Radiation Impact Project Inc Candler, NC | $20,604 | $0 |
Richard T Greener Institute For Social Policy Columbia, SC | $23,631 | $8,303 |
Orthovirginia Research Foundation Richmond, VA | $0 | $0 |