North Carolina Association Of Community Economic Development Inc is located in Rocky Mount, NC. The organization was established in 1990. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, North Carolina Association Of Community Economic Development Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Association Of Community Economic Development 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 12/2023, North Carolina Association Of Community Economic Development Inc generated $432.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $344.3k during the year ending 12/2023. While expenses have increased by 6.2% per year over the past 8 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
STRENGTHENING NC ECONOMY AND CREATING A BETTER TOMORROW FOR ALL NORTH CAROLINIANS BY ADVANCING INNOVATIVE, COMMUNITY-BASED ECONOMIC DEVELOPMENT STRATEGIES THAT IMPROVE THE QUALITY OF LIFE WHERE NC RESIDENTS LIVE, WORK AND PLAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE ITS INCEPTION, NCACED HAS BEEN WORKING TO STRENGTHEN COMMUNITIES AND INCREASE ECONOMIC OPPORTUNITIES. IN A HISTORICALLY DISTRESSED COMMUNITY EXPERIENCING SIGNIFICANT ECONOMIC RECOVERY AND TRANSFORMATION, NCACED IS FOCUSED ON A COMPREHENSIVE STRATEGY THAT ENCOMPASSES PLACE-BASED IMPROVEMENTS TO RACIALLY SEGREGATED DISINVESTED NEIGHBORHOODS AND APPROACHES TO IMPROVE HEALTH OUTCOMES FOR THOSE WHO EXPERIENCE THE GREATEST HEALTH DISPARITIES. AS THE REGION WORKS TO GENERATE POSITIVE ECONOMIC IMPACT, NCACED HAS STRUCTURED A COMMUNITY-DRIVEN MODEL CAPABLE OF REPLICATION ELSEWHERE TO GUIDE ONE CITYS TRANSFORMATION IN EQUITABLE DEVELOPMENT DIRECTIONS. NCACED SUPPORTS THE NOTION THAT THOSE MOST IMPACTED BY THE PROBLEMS CONFRONTING OUR COMMUNITIES MUST BE AT THE CENTER OF CHANGE EFFORTS. NCACEDS MODEL PROVIDES RESIDENT-LEVEL EDUCATION AND LEADERSHIP DEVELOPMENT SERVICES, WITH THE GOAL OF EXPANDING INDIVIDUAL CAPACITIES AND ENHANCING COMMUNITY
ADVOCACY/PUBLIC POLICY: GUIDED BY PROACTIVE AND ENGAGED LOW-INCOME RESIDENTS, NCACED IS PURSUING EQUITABLE DEVELOPMENT STRATEGIES THROUGH LAND USE MANAGEMENT AND OTHER POLICY CHANGES THAT WILL INCREASE AND PROTECT PRICE-APPROPRIATE HOUSING FOR STRUGGLING WORKING FAMILIES, CREATE SAFER, MORE APPEALING STREETS AND DOWNTOWNS, ENLARGE ACCESS TO HEALTHY FOODS, ENHANCE PUBLIC HEALTH AND ENVIRONMENTAL STEWARDSHIP, AND IMPROVE JOBS AND TRANSPORTATION SERVICES. NNCACED SEEKS TO PROMOTE AND EXPAND RESIDENT PARTICIPATION IN MEANINGFUL, POWERFUL AND REPRESENTATIVE CIVIC ENGAGEMENT ACTIVITIES. AS A RESULT OF NCACEDS PROGRAMMATIC EFFORTS, INCREASED LOW-INCOME RESIDENT INVOLVEMENT IN KEY COMMUNITY CHANGE ACTIVITIES HAS BEEN ACHIEVED. BY RECOGNIZING THE VALUE ADDED LOW-WEALTH RESIDENTS BROUGHT TO THE TABLE WITH THEIR INFORMED COMMENTS ABOUT THEIR NEIGHBORHOODS, CITY OFFICIALS AND NEIGHBORHOOD RESIDENTS BEGAN WORKING TOGETHER IN AN EFFECTIVE PARTNERSHIP TO REACH A SHARED GOAL.
CORONAVIRUS RECOVERY: FUNDING UNDER THE AMERICAN RESCUE PLAN ACT (ARPA) MADE AVAILABLE TO STATE AND LOCAL GOVERNMENTS PROVIDED THESE ENTITIES WITH THE RESOURCES NEEDED TO RESPOND TO THE PANDEMIC AND ITS ECONOMIC EFFECTS AND TO BUILD A STRONGER, MORE EQUITABLE ECONOMY DURING THE RECOVERY. NCACED IS AWARE THAT THE VIRUS RESULTED IN SYSTEMIC PUBLIC HEALTH AND ECONOMIC CHALLENGES THAT MAY HAVE CONTRIBUTED TO MORE SEVERE IMPACTS OF THE PANDEMIC AMONG LOW-INCOME COMMUNITIES AND PEOPLE OF COLOR. THEREFORE, NCACED HAS BEEN WORKING WITH LOCAL STAKEHOLDERS WHO DIRECTLY EXPERIENCED THESE INEQUITIES TO ENSURE THAT THEIR COMMUNITY-DRIVEN PRIORITIES ARE REPRESENTED IN LOCAL ARPA-PLANNING AND STRATEGY DEVELOPMENT EFFORTS AND TO PROMOTE AN APPROACH TO FUNDING ALLOCATION THAT IDENTIFIES AND ADDRESSES THE SYSTEMIC FACTORS THAT CREATE BARRIERS TO HEALTH AND HEALTH EQUITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Susan Perry-Cole President | Officer | 40 | $60,200 |
Stephanie Swepson-Twitty Director | Trustee | 0.25 | $0 |
Arlene Lawson Director | Trustee | 0.25 | $0 |
Sharon Bey-Christopher Director | Trustee | 0.25 | $0 |
Carl Manning Director | Trustee | 0.25 | $0 |
John Barnes Director | Trustee | 0.25 | $0 |
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 | $432,628 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $432,628 |
Total Program Service Revenue | $0 |
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 | $432,628 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $70,000 |
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. | $60,200 |
Compensation of current officers, directors, key employees. | $6,000 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $71,200 |
Pension plan accruals and contributions | $7,884 |
Other employee benefits | $17,562 |
Payroll taxes | $10,976 |
Fees for services: Management | $39,996 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $22,871 |
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 | $5,253 |
Information technology | $4,875 |
Royalties | $0 |
Occupancy | $12,977 |
Travel | $5,317 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $4,584 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $1,201 |
All other expenses | $0 |
Total functional expenses | $344,336 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $566,529 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $892 |
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 | $567,421 |
Accounts payable and accrued expenses | $4,598 |
Grants payable | $0 |
Deferred revenue | $243,665 |
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 | $248,263 |
Net assets without donor restrictions | $319,158 |
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 | $567,421 |
Over the last fiscal year, North Carolina Association Of Community Economic Development Inc has awarded $70,000 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
ROCKY MOUNT OIC INC PURPOSE: Assist Community Priority Recovery Fund | $20,000 |
A BETTER CHANCE A BETTER COMMUNITY PURPOSE: Assist Community Priority Recovery Fund | $50,000 |