Centralina Economic Development Commission Inc
- Assets
- $71.5k
- Revenue
- $577.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 03/2007
- Data as of
- 06/2022
- EIN
- 20-3344901
Organization Overview
Centralina Economic Development Commission Inc is located in Charlotte, NC. The organization was established in 2007. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Centralina Economic Development Commission 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 06/2022, Centralina Economic Development Commission Inc generated $577.6k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 34.6% each year . All expenses for the organization totaled $574.2k during the year ending 06/2022. While expenses have increased by 35.7% per year over the past 2 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAIN THE REGIONS FED. ECONOMIC DEV. DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CEDC MANAGED THE ECONOMIC DEVELOPMENT DISTRICTS FOR A NINE COUNTY REGION. PROVIDES TECHNICAL ASSISTANCE TO MEMBER GOVERNMENTS AND OTHER PUBLIC AGENCIES FOR FEDERAL RESOURCES ACQUISITION. ALSO MAINTAINED THE REGIONS CEDS EDA PLANNING PARTNERSHIP GRANT.
THE CEDC'S BOARD PROVIDES REGIONAL RESOURCES AND EDUCATION FOR CENTRALINA'S COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY FOR THE NINE COUNTY REGION. THE CEDC HELPED FACILITATE THE EDA AWARD TO ROWAN CABARRUS COMMUNITY COLLEGE PER OUR ROLE AS THE LOCAL ECONOMIC DEVELOPMENT DISTRICT.
THE CEDC MANAGED THE ECONOMIC DEVELOPMENT PLANNING AND COORDINATION TO DEVELOP OR UPDATE A DISASTER RECOVERY AND RESILIENCY PLAN FOCUSED ON THE PANDEMIC RECOVERY EXISTING OR ANTICIPATED COVID-19 IMPACT. GENERAL NEEDS OF THE EDD OR INDIAN TRIBE.
THE CEDC PROVIDED ASSISTANCE TO COUNTY AND CITY/TOWNS IN THE REGION THAT WERE NEGATIVELY IMPACTED BY COVID-19. ADDITIONALLY, WE HELPED THE COUNTIES AND CITY/TOWNS UPDATE THEIR EMERGENCY PLANS/SYSTEMS TO BE BETTER PREPARED FOR FUTURE DISASTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miles Atkins Chairman | Trustee | 2 | $0 |
Leslie Johnson Teasurer & S | Trustee | 2 | $0 |
Bill Thunberg Vice-Chairma | Trustee | 2 | $0 |
Financial Statements
| 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 | $488,102 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $488,102 |
| Total Program Service Revenue | $89,518 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $577,620 |
| 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 | $560,538 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $5,865 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $574,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $69,413 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,127 |
| Total assets | $71,540 |
| Accounts payable and accrued expenses | $27,301 |
| 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 | $27,301 |
| Net assets without donor restrictions | $44,239 |
| 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 | $71,540 |