Alamance County Economic Development Foundation
Alamance County Economic Development Foundation maintains strong asset growth and zero liabilities with no reported officer compensation.
EIN: 202384314 · Burlington, NC · NTEE: S30 · Updated: 2026-03-28
Is Alamance County Economic Development Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Alamance County Economic Development Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Alamance County Economic Development Foundation
Alamance County Economic Development Foundation (EIN: 202384314) is a nonprofit organization based in Burlington, NC, classified under NTEE code S30. The organization reported total revenue of $376K and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Alamance County Economic Development Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Alamance County Economic Development Foundation with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Alamance County Economic Development Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, suggesting either a volunteer-led executive team or compensation levels that fall below IRS reporting thresholds, indicating highly efficient use of funds for leadership.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Alamance County Economic Development Foundation:
- Consistent asset growth (from $653,944 in 2014 to $1,454,659 in 2023)
- Zero reported liabilities across all filings, indicating strong financial management
- No reported officer compensation, suggesting efficient use of funds for leadership
- Consistent positive net revenue in most years, contributing to financial stability
- Long filing history (13 filings) demonstrating sustained operations and transparency
Frequently Asked Questions about Alamance County Economic Development Foundation
Is Alamance County Economic Development Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Alamance County Economic Development Foundation (EIN: 202384314) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Alamance County Economic Development Foundation spend its money?
Alamance County Economic Development Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Alamance County Economic Development Foundation tax-deductible?
Alamance County Economic Development Foundation is registered as a tax-exempt nonprofit (EIN: 202384314). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Alamance County Economic Development Foundation a good charity?
Based on the provided financial data, the foundation appears to be a very good charity. It demonstrates strong financial health with growing assets and no liabilities, and its leadership operates without reported compensation, maximizing funds for its mission.
How has the organization's financial health changed over time?
The organization's financial health has steadily improved, with assets nearly tripling from $653,944 in 2014 to $1,454,659 in 2023, while consistently maintaining zero liabilities.
What is the trend in revenue and expenses?
Revenue and expenses have fluctuated year-to-year but generally show a positive net income, allowing for asset growth. For example, in 2023, revenue was $400,737 against expenses of $398,302, indicating a slight surplus.
Filing History
IRS 990 filing history for Alamance County Economic Development Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Alamance County Economic Development Foundation's revenue has grown by 137.6%, moving from $169K to $401K. Total assets increased by 601.6% over the same period, from $207K to $1.5M. Total functional expenses rose by 48.8%, from $268K to $398K. In its most recent filing year (2023), Alamance County Economic Development Foundation reported a surplus of $2K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $401K | $398K | $1.5M | $0 | — | — |
| 2022 | $570K | $473K | $1.5M | $0 | — | View 990 |
| 2021 | $416K | $354K | $1.4M | $0 | — | View 990 |
| 2020 | $391K | $288K | $1.3M | $0 | — | View 990 |
| 2019 | $388K | $283K | $1.2M | $0 | — | View 990 |
| 2018 | $429K | $247K | $1.1M | $0 | — | View 990 |
| 2017 | $536K | $506K | $905K | $0 | — | View 990 |
| 2016 | $310K | $346K | $874K | $0 | — | View 990 |
| 2015 | $403K | $147K | $910K | $0 | — | View 990 |
| 2014 | $417K | $222K | $654K | $0 | — | View 990 |
| 2013 | $445K | $315K | $459K | $0 | — | View 990 |
| 2012 | $368K | $247K | $329K | $0 | — | View 990 |
| 2011 | $169K | $268K | $207K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $401K, expenses of $398K, and assets of $1.5M (revenue -29.7% year-over-year).
- 2022: Revenue of $570K, expenses of $473K, and assets of $1.5M (revenue +37.1% year-over-year).
- 2021: Revenue of $416K, expenses of $354K, and assets of $1.4M (revenue +6.2% year-over-year).
- 2020: Revenue of $391K, expenses of $288K, and assets of $1.3M (revenue +0.9% year-over-year).
- 2019: Revenue of $388K, expenses of $283K, and assets of $1.2M (revenue -9.5% year-over-year).
- 2018: Revenue of $429K, expenses of $247K, and assets of $1.1M (revenue -20.1% year-over-year).
- 2017: Revenue of $536K, expenses of $506K, and assets of $905K (revenue +72.8% year-over-year).
- 2016: Revenue of $310K, expenses of $346K, and assets of $874K (revenue -23.1% year-over-year).
- 2015: Revenue of $403K, expenses of $147K, and assets of $910K (revenue -3.3% year-over-year).
- 2014: Revenue of $417K, expenses of $222K, and assets of $654K (revenue -6.2% year-over-year).
- 2013: Revenue of $445K, expenses of $315K, and assets of $459K (revenue +20.8% year-over-year).
- 2012: Revenue of $368K, expenses of $247K, and assets of $329K (revenue +118.4% year-over-year).
- 2011: Revenue of $169K, expenses of $268K, and assets of $207K.
Data Sources and Methodology
This transparency report for Alamance County Economic Development Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.