Piedmont Triad Partnership
- Assets
- $1.4m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 2
- Location
- High Point, NC
- Founding
- 05/2004
- Data as of
- 12/2021
- EIN
- 56-1750279
Organization Overview
Piedmont Triad Partnership is located in High Point, NC. The organization was established in 2004. 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. As of 12/2021, Piedmont Triad Partnership employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Piedmont Triad Partnership 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, Piedmont Triad Partnership generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 1.1% 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 SERVE AS A REGIONAL ORGANIZATION TO PROMOTE THE TWELVE COUNTY AREA PIEDMONT TRIAD, NORTH CAROLINA, FOR THE PURPOSE OF ENHANCING ECONOMIC DEVELOPMENT OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGIONAL MARKETING AND COMMUNICATIONS:PTP CONTINUED ITS PROGRAM OF WORK IN ECONOMIC DEVELOPMENT MARKETING AND BUSINESS DEVELOPMENT FOR THE 12-COUNTY REGION THROUGH BRANDING AND MARKETING THE CAROLINA CORE BRAND. FUNDS WERE SPENT TO AUGMENT AND REFRESH COLLATERAL SUPPORTING THE OVERARCHING MESSAGES, TRAVELING TO INDUSTRY MEETINGS AND ONE-ON-ONE MEETINGS WITH COMPANIES AND ADVISORS TO COMPANIES, ADVERTISING IN PRINT AND DIGITAL MEDIA, AND THE PERSONNEL TO SUPPORT THESE ACTIVITIES. THE TACTICS FOCUSED ON INDUSTRIAL PRODUCT DEVELOPMENT, TALENT AND WORKFORCE DEVELOPMENT, AEROSPACE AND AVIATION, AS WELL AS OTHER PROMISING SECTORS IN ADVANCED TECHNOLOGY AND MANUFACTURING FIELDS. ACTIVITIES IDENTIFIED NEW PROSPECTS FOR JOB GROWTH IN THE REGION, SUPPORTED THE PROGRESS OF COMPANIES MAKING BUSINESS LOCATION DECISIONS, AND PROMOTED THE REGION THROUGH MEDIA AND PUBLIC RELATIONS.
REGIONAL ECONOMIC DEVELOPMENT REGIONAL ECONOMIC DEVELOPMENT FOCUSES IN SEVERAL AREAS. THE FOCUS IN 2021 AND FORWARD IS TOWARD THE FOLLOWING DEVELOPMENT AND STRATEGIC AREAS:IDETIFYING AND COMMUNICATING WITH COMPANIES THAT WILL INVEST IN AND ADD JOBS IN THE REGION, DEVELOPMENT OF AVIATION INDUSTRY PUBLIC/PRIVATE WITH FOCUS ON PTI AIRPORT EXPANSION, DEVELOPMENT OF THE TALENT PIPELINE AND DEVELOPMENT SYSTEMS IN THE REGION, AND SUPPORT FOR A REGIONAL APPROACH TO ENTREPRENEURIAL DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stanhope Kelly CEO | Officer | 25 | $99,350 |
Mike Fox President As Of September 2021 | Officer | 25 | $40,000 |
Nido Qubein Co-Chairman | OfficerTrustee | 1 | $0 |
Scott Baxter Vice Chairman | OfficerTrustee | 1 | $0 |
Bill Smith Secretary-Treasurer | OfficerTrustee | 1 | $0 |
Cantey Alexander Vice Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Reed International Aerospace Administrative/economic Development | 12/30/21 | $137,615 |
Community Capacity Llc Administrative/economic Development | 12/30/21 | $157,500 |
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 | $988,752 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $988,752 |
| Total Program Service Revenue | $0 |
| Investment income | $10,067 |
| 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 | $1,128,819 |
| 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 | $42,632 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,365 |
| Payroll taxes | $4,160 |
| Fees for services: Management | $0 |
| 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 | $231,808 |
| Advertising and promotion | $0 |
| Office expenses | $1,153 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,437 |
| Travel | $2,562 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,478 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $309 |
| Insurance | $2,833 |
| All other expenses | $7,079 |
| Total functional expenses | $1,198,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $278,185 |
| Savings and temporary cash investments | $1,101,300 |
| 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 | $155 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,663 |
| Total assets | $1,385,303 |
| Accounts payable and accrued expenses | $48,694 |
| 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 | $85,000 |
| Total liabilities | $133,694 |
| Net assets without donor restrictions | $1,251,609 |
| 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 | $1,385,303 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Piedmont Triad Partnership has recieved totaling $395,000.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 1 GRANT(S) FOR VARYING PURPOSES | $270,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $75,000 |
High Point University High Point, NC PURPOSE: GENERAL SUPPORT. | $25,000 |
Forsyth Memorial Hospital Inc Winston Salem, NC PURPOSE: COMMUNITY OUTREACH | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Richmond Metropolitan Convention & Vistors Bureau Richmond, VA | $6,099,091 | $8,138,093 |
Knoxville Convention & Visitors Bureau Inc Knoxville, TN | $5,768,468 | $5,619,069 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
Columbia Metropolitan Convention And Visitors Bureau Columbia, SC | $6,376,262 | $4,843,981 |