Kerr Tar Economic Development Corporation
Kerr Tar Economic Development Corporation consistently directs funds to programs with no reported executive compensation, despite fluctuating revenues and a gradual decline in assets.
EIN: 203115014 · Henderson, NC · NTEE: S30 · Updated: 2026-03-28
Is Kerr Tar Economic Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kerr Tar Economic Development Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kerr Tar Economic Development Corporation
Kerr Tar Economic Development Corporation (EIN: 203115014) is a nonprofit organization based in Henderson, NC, classified under NTEE code S30. The organization reported total revenue of $453K and total assets of $5.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kerr Tar Economic Development Corporation'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 Kerr Tar Economic Development Corporation with a Mission Score of 92 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Kerr Tar Economic Development Corporation allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all 14 available filings, indicating that no funds are allocated to executive salaries, which is highly commendable for an organization of its size with assets exceeding $5 million.
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.
Red Flags
The following concerns were identified during AI analysis of Kerr Tar Economic Development Corporation's IRS 990 filings:
- Significant year-over-year revenue volatility, making long-term financial planning potentially challenging.
- Gradual decline in total assets over the past few years, from $13.6 million in 2021 to $13.0 million in 2024.
Strengths
The following positive indicators were identified for Kerr Tar Economic Development Corporation:
- Consistent reporting of 0% officer compensation, indicating strong financial stewardship and dedication to mission.
- High proportion of spending directed towards programs, suggesting efficient use of funds for its mission.
- Significant reduction in liabilities from $12.1 million in 2017 to $5.6 million in 2024, improving financial stability.
- Maintains a substantial asset base of over $5 million, providing a strong foundation for operations.
Frequently Asked Questions about Kerr Tar Economic Development Corporation
Is Kerr Tar Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Kerr Tar Economic Development Corporation (EIN: 203115014) some concerns. Mission Score: 92/100. 2 red flags identified, 4 strengths noted.
How does Kerr Tar Economic Development Corporation spend its money?
Kerr Tar Economic Development Corporation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Kerr Tar Economic Development Corporation tax-deductible?
Kerr Tar Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 203115014). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the significant revenue spike in 2018 to $5.9 million, and how was this funding utilized?
The IRS 990 filings show a revenue spike to $5,947,456 in the 201806 period, significantly higher than other years. Understanding the source and application of these funds would provide deeper insight into the organization's financial strategy and impact.
What is the specific breakdown of program expenses, and how do these align with the organization's stated mission (NTEE S30 - Economic Development)?
While the overall program spending appears high, a detailed breakdown of the types of programs funded would clarify how effectively the organization is achieving its economic development goals.
Why have the organization's assets gradually declined from $13.6 million in 2021 to $13.0 million in 2024?
The consistent decrease in total assets over the last few years, despite relatively stable expenses, warrants further investigation to understand the underlying reasons and potential long-term implications for the organization's financial health.
Filing History
IRS 990 filing history for Kerr Tar Economic Development Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Kerr Tar Economic Development Corporation's revenue has declined by 5.1%, moving from $320K to $304K. Total assets decreased by 17.9% over the same period, from $15.9M to $13.0M. Total functional expenses fell by 31.4%, from $575K to $394K. In its most recent filing year (2024), Kerr Tar Economic Development Corporation reported a deficit of $91K, with expenses exceeding revenue. The organization holds $5.7M in liabilities against $13.0M in assets (debt-to-asset ratio: 43.4%), resulting in net assets of $7.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $304K | $394K | $13.0M | $5.7M | — | — |
| 2023 | $280K | $280K | $13.3M | $5.8M | — | View 990 |
| 2022 | $205K | $264K | $13.6M | $6.1M | — | View 990 |
| 2021 | $592K | $303K | $13.6M | $6.1M | — | View 990 |
| 2020 | $267K | $305K | $13.5M | $6.2M | — | View 990 |
| 2019 | $362K | $340K | $13.6M | $6.3M | — | View 990 |
| 2018 | $5.9M | $168K | $13.6M | $6.3M | — | — |
| 2017 | $155K | $157K | $13.6M | $12.1M | — | View 990 |
| 2016 | $154K | $217K | $13.6M | $12.1M | — | View 990 |
| 2015 | $149K | $214K | $13.7M | $12.1M | — | View 990 |
| 2014 | $1.2M | $938K | $13.8M | $12.2M | — | View 990 |
| 2013 | $1.2M | $1.0M | $13.5M | $12.2M | — | View 990 |
| 2012 | $751K | $1.3M | $15.0M | $13.8M | — | View 990 |
| 2011 | $320K | $575K | $15.9M | $14.1M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $304K, expenses of $394K, and assets of $13.0M (revenue +8.5% year-over-year).
- 2023: Revenue of $280K, expenses of $280K, and assets of $13.3M (revenue +36.7% year-over-year).
- 2022: Revenue of $205K, expenses of $264K, and assets of $13.6M (revenue -65.4% year-over-year).
- 2021: Revenue of $592K, expenses of $303K, and assets of $13.6M (revenue +122.0% year-over-year).
- 2020: Revenue of $267K, expenses of $305K, and assets of $13.5M (revenue -26.4% year-over-year).
- 2019: Revenue of $362K, expenses of $340K, and assets of $13.6M (revenue -93.9% year-over-year).
- 2018: Revenue of $5.9M, expenses of $168K, and assets of $13.6M (revenue +3739.3% year-over-year).
- 2017: Revenue of $155K, expenses of $157K, and assets of $13.6M (revenue +0.7% year-over-year).
- 2016: Revenue of $154K, expenses of $217K, and assets of $13.6M (revenue +3.4% year-over-year).
- 2015: Revenue of $149K, expenses of $214K, and assets of $13.7M (revenue -87.7% year-over-year).
- 2014: Revenue of $1.2M, expenses of $938K, and assets of $13.8M (revenue +2.7% year-over-year).
- 2013: Revenue of $1.2M, expenses of $1.0M, and assets of $13.5M (revenue +56.9% year-over-year).
- 2012: Revenue of $751K, expenses of $1.3M, and assets of $15.0M (revenue +134.7% year-over-year).
- 2011: Revenue of $320K, expenses of $575K, and assets of $15.9M.
Data Sources and Methodology
This transparency report for Kerr Tar Economic Development Corporation 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.