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
| Metric | Value |
|---|---|
| Total Revenue | $453K |
| Total Expenses | $394K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $5 |
| Net Assets | $7.4M |
| Transparency Score | 92/100 |
Search Intent Cockpit
Kerr Tar Economic Development Corporation Form 990, Revenue, CEO Pay, and IRS Filing Signals
Kerr Tar Economic Development Corporation is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Kerr Tar Economic Development Corporation in one place.
Form 990 Filing Summary
14 filing years are available, with latest revenue of $304K and expenses of $394K.
Revenue and Expenses
Kerr Tar Economic Development Corporation reported $304K in revenue and $394K in expenses, a deficit of $91K.
Executive Compensation
Top officer compensation appears as $5 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
92/100 mission score, 2 red flags, and 4 strengths are shown from structured and AI review.
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 →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $355K (90%) |
Across stored filings, Kerr Tar Economic Development Corporation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 2 red flags identified |
| Mission spend | 90% to programs | Excellent |
| Financial durability | Grade B | 14 stored filing years |
| Peer context | Compare with Cccp Community Trust | North Carolina and Community Improvement context |
Trust Check
Review legitimacy, deductibility, red flags, and filing consistency.
Open charity check →Peer Benchmark
Compare against real state and category peers.
Compare with Cccp Community Trust →All North Carolina nonprofits
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Local and Sector Spokes
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Henderson, NC nonprofitsCommunity Improvement in North Carolina
Public Benefit in North Carolina
Follow the Money
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Donation Decision Flow
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Next Best Actions
Keep the Investigation Moving
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.
Organization Overview
Kerr Tar Economic Development Corporation is a small nonprofit that has been operating for 20 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of -0.4%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $304K |
| Total Expenses | $394K |
| Surplus / Deficit | $-90,950 |
| Total Assets | $13.0M |
| Total Liabilities | $5.7M |
| Net Assets | $7.4M |
| Operating Margin | -30.0% |
| Debt-to-Asset Ratio | 43.4% |
| Months of Reserves | 396.9 months |
Financial Health Grade: B
In 2024, Kerr Tar Economic Development Corporation reported a deficit of $91K with expenses exceeding revenue, holds 396.9 months of operating reserves (strong position), has a debt-to-asset ratio of 43.4% (moderate leverage).
Financial Trends
Over 14 years of filings (2011–2024), Kerr Tar Economic Development Corporation's revenue has declined at a compound annual growth rate (CAGR) of -0.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +8.5% | +40.7% | -1.6% |
| 2023 | +36.7% | +6.3% | -2.3% |
| 2022 | -65.4% | -13.0% | -0.4% |
| 2021 | +122.0% | -0.6% | +1.3% |
| 2020 | -26.4% | -10.4% | -0.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
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.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $91K, with expenses exceeding revenue.
- Debt-to-asset ratio: 43.4%.
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?
Kerr Tar Economic Development Corporation (EIN: 203115014) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 92/100. It has 14 years of IRS 990 filings on record. Total revenue: $453K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Kerr Tar Economic Development Corporation spend its money?
Kerr Tar Economic Development Corporation directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
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.
How much does the Kerr Tar Economic Development Corporation CEO make?
Kerr Tar Economic Development Corporation's highest-compensated officer earns $5 annually. The organization reported $453K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Kerr Tar Economic Development Corporation's spending goes to programs?
Kerr Tar Economic Development Corporation directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Kerr Tar Economic Development Corporation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Kerr Tar Economic Development Corporation is above average for NTEE category S30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Kerr Tar Economic Development Corporation located?
Kerr Tar Economic Development Corporation is headquartered in Henderson, North Carolina and files with the IRS under EIN 203115014. It is classified under NTEE code S30.
How many years of IRS 990 filings does Kerr Tar Economic Development Corporation have?
Kerr Tar Economic Development Corporation has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $453K in total revenue.
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.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Kerr Tar Economic Development Corporation:
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.