North Carolina Community Development Initiative Inc
- Assets
- $0.0
- Revenue
- $257.7k
- Investments
- $0.0
- Employees
- 5
- Location
- Durham, NC
- Founding
- 03/1994
- Data as of
- 12/2020
- EIN
- 56-1845590
Organization Overview
North Carolina Community Development Initiative Inc, operating under the name Development Initiative Inc, is located in Durham, NC. The organization was established in 1994. 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 12/2020, Development Initiative Inc employed 5 individuals. Development Initiative 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 12/2020, Development Initiative Inc generated $257.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (22.9%) each year. All expenses for the organization totaled $611.5k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Development Initiative Inc has awarded 34 individual grants totaling $6,312,292. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
NORTH CAROLINA COMMUNITY DEVELOPMENT INITIATIVE IS A STATEWIDE PUBLIC- PRIVATE PARTNERSHIP THAT PROVIDES LEADERSHIP AND CAPITAL INVESTMENT TO HIGH-PERFORMANCE COMMUNITY DEVELOPMENT CORPORATIONS (CDCS) AS WELL AS OTHER COMMINITY BASED ECONOMIC DEVELOPMENT ENDEAVORS, (I.E. SOCIAL ENTERPRISES) TO IMPROVE THE WELL BEING AND QUALITY OF LIFE FOR PEOPLE IN LOW RESOURCE COMMUNITIES.
Describe the Organization's Program Activity:
THE "INITIATIVE" ALLOCATIONS TO GRANTEES ARE BASED ON THE LOCAL COMMUNITY DEVELOPMENT CORPORATION'S ABILITY TO PROVIDE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Poole CFO | Officer | 20 | $82,857 |
Kevin J Price President/ce | Officer | 5 | $0 |
Tara C Kenchen Former Presi | OfficerTrustee | 20 | $20,392 |
Nikitra S Bailey Board Member | Trustee | 1 | $0 |
Ted Edwards Board Member | Trustee | 1 | $0 |
Nation Hahn Board Member | Trustee | 1 | $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 | $103,113 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,113 |
| Total Program Service Revenue | $0 |
| Investment income | $105 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,847 |
| 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 | $257,686 |
| 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. | $81,829 |
| Compensation of current officers, directors, key employees. | $81,829 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,971 |
| Pension plan accruals and contributions | $119,624 |
| Other employee benefits | $81,944 |
| Payroll taxes | $7,909 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $63,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,619 |
| Advertising and promotion | $6,241 |
| Office expenses | $6,714 |
| Information technology | $2,816 |
| Royalties | $0 |
| Occupancy | $30,820 |
| Travel | $276 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $31,390 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,518 |
| Insurance | $12,047 |
| All other expenses | -$18,318 |
| Total functional expenses | $611,468 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, North Carolina Community Development Initiative Inc has awarded $1,076,900 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NC DEPT OF COMMERCE - CDBC-DR PURPOSE: SEE PART IV | $116,667 |
BERTIE COUNTY HIVE HOUSE PURPOSE: SEE PART IV | $160,233 |
NORTH CAROLINA COMMUNITYDEVELOPMENT INITIATIVE CAPITAL INC PURPOSE: SEE PART IV | $800,000 |