Carolina Common Enterprise
- Assets
- $394.6k
- Revenue
- $316.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Durham, NC
- Founding
- 11/2013
- Data as of
- 12/2023
- EIN
- 46-0568407
Organization Overview
Carolina Common Enterprise is located in Durham, NC. The organization was established in 2013. According to its NTEE Classification (S19) the organization is classified as: Support N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Carolina Common Enterprise employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Common Enterprise 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 12/2023, Carolina Common Enterprise generated $316.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $372.8k during the year ending 12/2023. While expenses have increased by 3.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST INDIVIDUALS AND COMMUNITIES, PARTICULARLY THOSE IN LOW-INCOME AND SOCIALLY DISADVANTAGED AREAS, IN THE CREATION, EXPANSION, AND IMPROVEMENT OF RURAL AND COMMUNITY-BASED ENTERPRISES, PARTICULARLY THOSE THAT ARE COOPERATIVELY OR MUTUALLY OWNED AND GOVERNED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR PROGRAM SERVICES INCLUDE COOPERATIVE DEVELOPMENT IN ECONOMICALLY MARGINALIZED COMMUNITIES, TECHNICAL ASSISTANCE TO STARTUP AND EXISTING COOPERATIVE ENTERPRISES, AND FOOD CO-OP DEVELOPMENT IN "FOOD DESERT" COMMUNITIES. WE CONTINUE THIS WORK BY ASSISTING FOOD SYSTEMS CO-OPS IN RURAL NORTH CAROLINA AND FOSTERING CONVERSION OF CONVENTIONAL BUSINESSES TO WORKER OWNERSHIP.CAROLINA COMMON ENTERPRISE (CCE) PROVIDES LICENSED LEGAL SERVICES TO CO-OPS THAT FALL WITHIN OUR MISSION CRITERIA. WE HAVE ALSO PARTICIPATED IN ORGANIZING COOPERATIVE LAWYERS AND ACCOUNTANTS NATIONALLY TO CREATE A COLLEGIAL NETWORK TO IMPROVE THE AVAILABILITY AND QUALITY OF PROFESSIONAL SERVICES FOR CO-OPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Claire Broughton Director | Trustee | 1 | $0 |
Emily Nail Director | Trustee | 1 | $0 |
Becky Bowen Director | Trustee | 1 | $0 |
Jonathan Peterson Director | Trustee | 1 | $0 |
Michael Spink Director | Trustee | 1 | $0 |
Nicolle Villano Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $208,212 |
| All other contributions, gifts, grants, and similar amounts not included above | $38,021 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $246,233 |
| Total Program Service Revenue | $64,614 |
| Investment income | $216 |
| 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 | $316,424 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $300 |
| 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. | $85,820 |
| Compensation of current officers, directors, key employees. | $21,455 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $189,297 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,756 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,914 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,479 |
| Advertising and promotion | $580 |
| Office expenses | $3,333 |
| Information technology | $9,328 |
| Royalties | $0 |
| Occupancy | $12,352 |
| Travel | $13,061 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,942 |
| Interest | $11,082 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,330 |
| Insurance | $2,230 |
| All other expenses | $2,955 |
| Total functional expenses | $372,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,775 |
| Savings and temporary cash investments | $359,686 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,428 |
| 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 | $8,832 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $850 |
| Total assets | $394,571 |
| Accounts payable and accrued expenses | $3,122 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $378,121 |
| 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 | $194,639 |
| Total liabilities | $575,882 |
| Net assets without donor restrictions | -$181,311 |
| 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 | $394,571 |
Grants Awarded
Over the last fiscal year, Carolina Common Enterprise has awarded $29,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DOWN EAST FRESH COOPERATIVE PURPOSE: SHARED-USE AGRICULTURE EQUIPMENT | $10,000 |
SANDHILLS COOPERATION ASSOCIATION PURPOSE: COOPERATIVES IN AFRICAN AMERICAN COMMUNITIES | $19,000 |