North Carolina Economic Development Association
EIN: 566093438 · Raleigh, NC
| Metric | Value |
|---|---|
| Total Revenue | $1.0M |
| Total Expenses | $914K |
| Net Assets | $634K |
Is North Carolina Economic Development Association Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About North Carolina Economic Development Association
North Carolina Economic Development Association (EIN: 566093438) is a nonprofit organization based in Raleigh, NC. The organization reported total revenue of $1.0M and total assets of $591K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of North Carolina Economic Development Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
North Carolina Economic Development Association is a mid-size nonprofit that has been operating for 58 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $993K |
| Total Expenses | $914K |
| Surplus / Deficit | +$79K |
| Total Assets | $634K |
| Net Assets | $634K |
| Operating Margin | 8.0% |
| Months of Reserves | 8.3 months |
Financial Health Grade: A
In 2023, North Carolina Economic Development Association reported a surplus of $79K with revenue exceeding expenses, holds 8.3 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2011–2023), North Carolina Economic Development Association's revenue has grown at a compound annual growth rate (CAGR) of 8.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.8% | +6.5% | +14.2% |
| 2022 | +87.9% | +58.0% | +34.4% |
| 2021 | +3.5% | +10.8% | -2.5% |
| 2020 | -17.5% | -2.2% | +85.1% |
| 2018 | +17.8% | -11.3% | +113.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1968 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for North Carolina Economic Development Association has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates North Carolina Economic Development Association with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $79K, with revenue exceeding expenses.
Frequently Asked Questions about North Carolina Economic Development Association
Is North Carolina Economic Development Association a legitimate charity?
North Carolina Economic Development Association (EIN: 566093438) is a registered tax-exempt nonprofit based in North Carolina. It has 12 years of IRS 990 filings on record. Total revenue: $1.0M. No red flags identified. Financial health grade: A.
How does North Carolina Economic Development Association spend its money?
North Carolina Economic Development Association reported $1.0M in total revenue in IRS 990 filings. 12 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to North Carolina Economic Development Association tax-deductible?
North Carolina Economic Development Association is registered as a tax-exempt nonprofit (EIN: 566093438). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is North Carolina Economic Development Association located?
North Carolina Economic Development Association is headquartered in Raleigh, North Carolina and files with the IRS under EIN 566093438.
How many years of IRS 990 filings does North Carolina Economic Development Association have?
North Carolina Economic Development Association has 12 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 $1.0M in total revenue.
Filing History
IRS 990 filing history for North Carolina Economic Development Association showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), North Carolina Economic Development Association's revenue has grown by 154%, moving from $391K to $993K. Total assets increased by 373.4% over the same period, from $134K to $634K. Total functional expenses rose by 102.8%, from $451K to $914K. In its most recent filing year (2023), North Carolina Economic Development Association reported a surplus of $79K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $993K | $914K | $634K | $0 | — | View 990 |
| 2022 | $1.0M | $859K | $555K | $0 | — | View 990 |
| 2021 | $533K | $543K | $413K | $0 | — | — |
| 2020 | $514K | $490K | $424K | $0 | — | — |
| 2018 | $623K | $502K | $229K | $0 | — | View 990 |
| 2017 | $529K | $565K | $107K | $0 | — | View 990 |
| 2016 | $519K | $453K | $144K | $0 | — | View 990 |
| 2015 | $397K | $416K | $78K | $0 | — | View 990 |
| 2014 | $344K | $324K | $96K | $0 | — | View 990 |
| 2013 | $363K | $404K | $76K | $0 | — | View 990 |
| 2012 | $384K | $401K | $117K | $0 | — | View 990 |
| 2011 | $391K | $451K | $134K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $993K, expenses of $914K, and assets of $634K (revenue -0.8% year-over-year).
- 2022: Revenue of $1.0M, expenses of $859K, and assets of $555K (revenue +87.9% year-over-year).
- 2021: Revenue of $533K, expenses of $543K, and assets of $413K (revenue +3.5% year-over-year).
- 2020: Revenue of $514K, expenses of $490K, and assets of $424K (revenue -17.5% year-over-year).
- 2018: Revenue of $623K, expenses of $502K, and assets of $229K (revenue +17.8% year-over-year).
- 2017: Revenue of $529K, expenses of $565K, and assets of $107K (revenue +1.8% year-over-year).
- 2016: Revenue of $519K, expenses of $453K, and assets of $144K (revenue +30.8% year-over-year).
- 2015: Revenue of $397K, expenses of $416K, and assets of $78K (revenue +15.6% year-over-year).
- 2014: Revenue of $344K, expenses of $324K, and assets of $96K (revenue -5.4% year-over-year).
- 2013: Revenue of $363K, expenses of $404K, and assets of $76K (revenue -5.5% year-over-year).
- 2012: Revenue of $384K, expenses of $401K, and assets of $117K (revenue -1.8% year-over-year).
- 2011: Revenue of $391K, expenses of $451K, and assets of $134K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for North Carolina Economic Development Association:
Data Sources and Methodology
This transparency report for North Carolina Economic Development Association 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.