Carolina Common Enterprise
- Assets
- $153.0k
- Revenue
- $386.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Durham, NC
- Founding
- 11/2013
- Data as of
- 12/2021
- 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 12/2021, Carolina Common Enterprise employed 4 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 12/2021, Carolina Common Enterprise generated $386.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $416.6k during the year ending 12/2021. While expenses have increased by 6.3% per year over the past 7 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
2021
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.
CAROLINA COMMON ENTERPRISE IS AFFILIATED WITH ROC USA TO DEVELOP A PROGRAM OF CONVERTING MANUFACTURED HOUSING COMMUNITIES TO RESIDENT OWNERSHIP IN NORTH CAROLINA. ACTIVITIES INCLUDE IDENTIFYING SUCH PROPERTIES AND SECURING OWNERSHIP OF AND FINANCING FOR SUCH REAL ESTATE ASSETS ON BEHALF OF RESIDENTS.IN A RESIDENT-OWNED COMMUNITY (ROC), HOMEOWNERS FORM A NON-PROFIT BUSINESS CALLED A COOPERATIVE. EACH HOUSEHOLD IS A MEMBER OF THE COOPERATIVE, WHICH OWNS THE LAND AND MANAGES THE BUSINESS THAT IS THE COMMUNITY. MEMBERS CONTINUE TO OWN THEIR OWN HOMES INDIVIDUALLY AND AN EQUAL SHARE OF THE LAND BENEATH THE ENTIRE NEIGHBORHOOD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Beckett Executive Director | Officer | 40 | $101,050 |
Emily Nail Director | Trustee | 1 | $0 |
Anne Claire Broughton Director | Trustee | 1 | $0 |
Becky Bowen Director | Trustee | 1 | $0 |
Janine Parker Woods Director | Trustee | 1 | $0 |
Michael Spring Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $232,732 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,005 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $283,737 |
| Total Program Service Revenue | $101,903 |
| Investment income | $450 |
| 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 | $386,090 |
| 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. | $101,050 |
| Compensation of current officers, directors, key employees. | $30,315 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $169,090 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,891 |
| Payroll taxes | $22,589 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,100 |
| Fees for services: Accounting | $9,503 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,938 |
| Advertising and promotion | $3,941 |
| Office expenses | $6,290 |
| Information technology | $4,717 |
| Royalties | $0 |
| Occupancy | $12,000 |
| Travel | $5,320 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,648 |
| Interest | $1,101 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,162 |
| Insurance | $1,858 |
| All other expenses | $4,371 |
| Total functional expenses | $416,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,518 |
| Savings and temporary cash investments | $132,211 |
| Pledges and grants receivable | $360 |
| 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 | $9,103 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $850 |
| Total assets | $153,042 |
| Accounts payable and accrued expenses | $17,323 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $70,245 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $794 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $133,239 |
| Total liabilities | $221,601 |
| Net assets without donor restrictions | -$68,559 |
| 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 | $153,042 |
Grants Awarded
Over the last fiscal year, Carolina Common Enterprise has awarded $29,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Troy, NC PURPOSE: COOPERATIVES IN AFRICAN AMERICAN COMMUNITIES | $19,000 |
DOWN EAST FRESH COOPERATIVE PURPOSE: SHARED-USE AGRICULTURE EQUIPMENT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Carolina Common Enterprise has recieved totaling $320,005.
| Awarding Organization | Amount |
|---|---|
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $170,000 |
Z Smith Reynolds Foundation Inc Winstonsalem, NC PURPOSE: FOR GENERAL OPERATING SUPPORT | $50,000 |
A J Fletcher Foundation Raleigh, NC PURPOSE: FOOD DISTRIBUTION | $50,000 |
Z Smith Reynolds Foundation Inc Winstonsalem, NC PURPOSE: FOR GENERAL OPERATING SUPPORT | $30,000 |
Neo Philanthropy Inc New York, NY PURPOSE: Program Grant | $10,000 |
Rural Advancement Foundation International-Usa Pittsboro, NC PURPOSE: SUPPORT TO FARMERS FOR NEW AND INNOVATIVE AGRICULTURAL PROJECTS. | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thread Capital Raleigh, NC | $10,988,241 | $1,469,550 |
University Center Facilities Corporation Iii Rock Hill, SC | $20,160,386 | $1,094,263 |
Hampton-Newport News Community Services Board Property Company Hampton, VA | $20,313,869 | $1,743,517 |
Self Storage Association Foundation Alexandria, VA | $6,163,793 | $2,330,620 |
Toolbank Usa Inc Atlanta, GA | $1,496,142 | $1,196,264 |
Gaston Innovation Group Inc Belmont, NC | $343,119 | $240,786 |
Carolina Common Enterprise Durham, NC | $153,042 | $386,090 |
Toolbank Usa Inc Richmond, VA | $421,989 | $439,803 |
Community Association Institute Research Foundation Falls Church, VA | $538,984 | $383,243 |
Toolbank Usa Inc Charlotte, NC | $490,948 | $385,141 |
Material Handling Educational Foundation Inc Charlotte, NC | $1,356,131 | $261,279 |
Virginia Industry Foundation Richmond, VA | $60,340 | $110,009 |