Mitchell County Development Foundation Inc is located in Spruce Pine, NC. The organization was established in 2002. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mitchell County Development Foundation 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 12/2017, Mitchell County Development Foundation Inc generated $20.4k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $41.6k during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 3 years. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISHED A CRAFT-BASED PROGRAM DESIGNED TO CREATE COTTAGE INDUSTRY EMPLOYMENT AND PROVIDE ENTREPRENEURIAL TRAINING, PRIMARILY FOR DISPLACED MANUFACTURING SECTOR WORKERS AND BEGINNING ARTISANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROJECT PROVIDES BUSINESS LAUNCH SUPPORT SERVICES FOR NEW ENTREPRENEURS IN THE AREA AND CREATES A MARKETPLACE FOR THEIR GOODS AS THEY DEVELOP THEIR OWN BUSINESS PLANS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Harper Wilson President | Officer | 2 | $0 |
Richard Canipe Secretary | Officer | 2 | $0 |
Jeff Gouge Treasurer | Officer | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
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 | $0 |
Total Program Service Revenue | $0 |
Investment income | $0 |
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 | $20,334 |
Miscellaneous Revenue | $0 |
Total Revenue | $20,442 |
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 | $0 |
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 | $500 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $1,022 |
Office expenses | $4,940 |
Information technology | $531 |
Royalties | $0 |
Occupancy | $5,956 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $500 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $21,776 |
Insurance | $6,393 |
All other expenses | $0 |
Total functional expenses | $41,618 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $15,690 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $620,350 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $636,040 |
Accounts payable and accrued expenses | $3,403 |
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 | $3,403 |
Unrestricted restricted net Assets | $632,637 |
Temporarily restricted net Assets | $0 |
Permanently restricted net Assets or current funds | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Total net assets or fund balances | $632,637 |
Over the last fiscal year, we have identified 1 grants that Mitchell County Development Foundation Inc has recieved totaling $25,000.
Awarding Organization | Amount |
---|---|
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $25,000 |
Organization Name | Assets | Revenue |
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Signature Theatre Inc Arlington, VA | $13,654,259 | $8,861,886 |
Aurora Theatre Inc Lawrenceville, GA | $10,092,561 | $4,172,461 |
Barter Foundation Incorporated State Theatre Of Virginia Abingdon, VA | $10,953,876 | $6,208,012 |
American Shakespeare Center Staunton, VA | $2,626,073 | $2,087,317 |
Childrens Theatre Of Charlotte Inc Charlotte, NC | $26,819,373 | $2,866,228 |
North Carolina Theatre Raleigh, NC | $3,174,252 | $3,580,122 |
Roanoke Island Historical Association Inc Manteo, NC | $10,126,995 | $2,839,927 |
Carolina Theatre Of Durham Inc Durham, NC | $4,096,389 | $4,794,341 |
Nashville Repertory Theatre Inc Nashville, TN | $1,810,998 | $3,171,319 |
Triad Stage Inc Greensboro, NC | $3,172,585 | $1,782,621 |
Circuit Playhouse Inc Memphis, TN | $16,830,150 | $2,686,872 |
Cumberland County Playhouse Inc Crossville, TN | $3,086,163 | $3,321,582 |