MARTIN COUNTY ECONOMIC DEVELOPMENT CORPORATION

Address
415 EAST BLVD
WILLIAMSTON, NC 27892-2786
Contact
Website: http://www.martincountyedc.com
Phone: +1 (252) 789-4904
Nonprofit
NTEE: S20 - Community, Neighborhood Development, Improvement (General)
EIN: 56-2042675

Mission

TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THE COUNTY.
 20152014201320122011
Basic features of the organization
Year of formation1997
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel $79,758.00$82,162.00 $61,940.00
Sum of reportable (W2/1099) compensation $79,758.00$82,162.00$57,031.00$61,940.00
Number of employees 5654
Number of people compensated >$100k 0   
Number of volunteers 0   
Number of highly compensated contractors 0   
Personnel
Ayers, Joe
Title VICE CHAIRMANVICE CHAIRMAVICE CHAIRMAVICE CHAIRMA
Name of key/compensated person JOE AYERSJOE AYERSJOE AYERSJOE AYERS
Position of compensated person
Current officer TrueTrueTrueTrue
Average hours per week working for org 0.00   
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Beach, Bill
Title    ASSISTANT SE
Name of key/compensated person    BILL BEACH
Position of compensated person
Current officer    True
Reportable compensation from org    $0.00
Other comp, non-reportable, from org and related orgs    $0.00
Corresponding comp from related orgs
Reportable compensation from related orgs     $0.00
Davis, Marvin
Title PRESIDENT/CEOPRESIDENT/CEEX. DIRECTOREX. DIRECTOR
Name of key/compensated person MARVIN DAVISMARVIN DAVISMARVIN DAVISMARVIN DAVIS
Position of compensated person
Current officer True   
Average hours per week working for org 40.0040.0040.0040.00
Reportable compensation from org $79,758.00$82,162.00$57,031.00$61,940.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Edwards, Becky
Title DIRECTORASST. SECRET  
Name of key/compensated person BECKY EDWARDSBECKY EDWARDS  
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00$0.00  
Other comp, non-reportable, from org and related orgs $0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00  
Fields, Shirley
Title DIRECTOR   
Name of key/compensated person SHIRLEY FIELDS   
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Hardison, Ricardo
Title DIRECTOR   
Name of key/compensated person RICARDO HARDISON   
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Hardison, Richardo
Name of key/compensated person  RICHARDO HARDISONRICHARDO HARDISONRICHARDO HARDISON
Position of compensated person
Reportable compensation from org  $0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs  $0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00$0.00$0.00
Hodges, Phil
Title DIRECTOR   
Name of key/compensated person PHIL HODGESPHIL HODGESPHIL HODGESPHIL HODGES
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
House, Abner
Title DIRECTOR   
Name of key/compensated person ABNER HOUSEABNER HOUSEABNER HOUSEABNER HOUSE
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Jones, Carroll
Title SECRETARYSECRETARYSECRETARYSECRETARY
Name of key/compensated person CARROLL JONESCARROLL JONESCARROLL JONESCARROLL JONES
Position of compensated person
Current officer TrueTrueTrueTrue
Average hours per week working for org 0.00   
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Lilley, Elmo
Title DIRECTOR   
Name of key/compensated person ELMO LILLEYELMO LILLEYELMO LILLEYELMO LILLEY
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Lilley, Laurence
Title CHAIRMANCHAIRMANCHAIRMANCHAIRMAN
Name of key/compensated person LAURENCE LILLEY JRLAURENCE LILLEY JRLAURENCE LILLEY JRLAURENCE LILLEY JR
Position of compensated person
Current officer TrueTrueTrueTrue
Average hours per week working for org 0.00   
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Perry, Kenneth
Name of key/compensated person   KENNETH PERRYKENNETH PERRY
Position of compensated person
Reportable compensation from org   $0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Ritter, Bull
Name of key/compensated person    BULL RITTER
Position of compensated person
Reportable compensation from org    $0.00
Other comp, non-reportable, from org and related orgs    $0.00
Corresponding comp from related orgs
Reportable compensation from related orgs     $0.00
Slade, Taylor
Title DIRECTOR   
Name of key/compensated person TAYLOR SLADETAYLOR SLADE  
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00$0.00  
Other comp, non-reportable, from org and related orgs $0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00  
Wilson, Henry
Name of key/compensated person    HENRY WILSON
Position of compensated person
Reportable compensation from org    $0.00
Other comp, non-reportable, from org and related orgs    $0.00
Corresponding comp from related orgs
Reportable compensation from related orgs     $0.00
Winslow, Tom
Title DIRECTOR   
Name of key/compensated person TOM WINSLOWTOM WINSLOWTOM WINSLOW 
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00$0.00$0.00 
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00 
Purpose: mission, activities, & accomplishments
Mission or significant activities TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THE COUNTY.TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THE COUNTY.TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THE COUNTY.TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THE COUNTY.
Program service expenses, total $709,088.00$1,070,434.00$1,963,039.00$2,819,834.00
Programs, including revenue & expenses
BUSINESS AND TECHNOLOGY CENTER INCLUDES PROVIDING INCUBATOR SPACE FOR SMALL BUSINESS AND ACCESS TO ADVANCED TECHNOLOGIES TO AREA BUSINESS, THE PUBLIC, AND AREA SCHOOLS. ALSO PROVIDES OFFICE SPACE TO FEDERAL, STATE, AND LOCAL GOVERNMENT ORGANIZATIONS.
Program expenses $378,204.00$392,793.00$366,790.00$448,771.00
Program revenue $212,578.00$206,802.00$335,098.00$276,039.00
Program description BUSINESS AND TECHNOLOGY CENTER INCLUDES PROVIDING INCUBATOR SPACE FOR SMALL BUSINESS AND ACCESS TO ADVANCED TECHNOLOGIES TO AREA BUSINESS, THE PUBLIC, AND AREA SCHOOLS. ALSO PROVIDES OFFICE SPACE TO FEDERAL, STATE, AND LOCAL GOVERNMENT ORGANIZATIONS.BUSINESS AND TECHNOLOGY CENTER INCLUDES PROVIDING INCUBATOR SPACE FOR SMALL BUSINESS AND ACCESS TO ADVANCED TECHNOLOGIES TO AREA BUSINESS, THE PUBLIC, AND AREA SCHOOLS. ALSO PROVIDES OFFICE SPACE TO FEDERAL, STATE, AND LOCAL GOVERNMENT ORGANIZATIONS.BUSINESS AND TECHNOLOGY CENTER INCLUDES PROVIDING INCUBATOR SPACE FOR SMALL BUSINESS AND ACCESS TO ADVANCED TECHNOLOGIES TO AREA BUSINESS, THE PUBLIC, AND AREA SCHOOLS. ALSO PROVIDES OFFICE SPACE TO FEDERAL, STATE, AND LOCAL GOVERNMENT ORGANIZATIONS.BUSINESS AND TECHNOLOGY CENTER INCLUDES PROVIDING INCUBATOR SPACE FOR SMALL BUSINESS AND ACCESS TO ADVANCED TECHNOLOGIES TO AREA BUSINESS, THE PUBLIC, AND AREA SCHOOLS. ALSO PROVIDES OFFICE SPACE TO FEDERAL, STATE, AND LOCAL GOVERNMENT ORGANIZATIONS.
BUSINESS SUPPORT AND INDUSTRIAL RECRUITMENT INCLUDES COST OF PROVIDING LEASED SPACE TO EXISTING INDUSTRY, COST OF REHABILITATING EXISTING FACILITY FOR NEW INDUSTRY, SOFT COST OF NEW SHELL BUILDING, AND INCENTIVES TO NEW INDUSTRY.
Program expenses $330,884.00$677,641.00$1,596,249.00 
Program revenue $791,814.00$860,334.00$1,370,244.00 
Program description BUSINESS SUPPORT AND INDUSTRIAL RECRUITMENT INCLUDES COST OF PROVIDING LEASED SPACE TO EXISTING INDUSTRY, COST OF REHABILITATING EXISTING FACILITY FOR NEW INDUSTRY, SOFT COST OF NEW SHELL BUILDING, AND INCENTIVES TO NEW INDUSTRY.BUSINESS SUPPORT AND INDUSTRIAL RECRUITMENT INCLUDES COST OF PROVIDING LEASED SPACE TO EXISTING INDUSTRY, COST OF REHABILITATING EXISTING FACILITY FOR NEW INDUSTRY, SOFT COST OF NEW SHELL BUILDING, IMPAIRMENT LOSSES RELATED TO LOSS OF MAJOR TENANT, AND INCENTIVES TO NEW INDUSTRY.BUSINESS SUPPORT AND INDUSTRIAL RECRUITMENT INCLUDES COST OF PROVIDING LEASED SPACE TO EXISTING INDUSTRY, COST OF REHABILITATING EXISTING FACILITY FOR NEW INDUSTRY, SOFT COST OF NEW SHELL BUILDING, IMPAIRMENT LOSSES RELATED TO LOSS OF MAJOR TENANT, AND INCENTIVES TO NEW INDUSTRY. 
BUSINESS SUPPORT AND INDUSTRIAL RECRUITMENT INCLUDES COST OF PROVIDING LEASED SPACE TO EXISTING INDUSTRY, DEVELOPMENT OF NEW JOINT INDUSTRIAL PARK WITH PITT COUNTY, AND SOFT COST OF REHABILITATING EXISTING FACILITY FOR NEW INDUSTRY.
Program expenses    $2,371,063.00
Program revenue    $2,447,896.00
Program description    BUSINESS SUPPORT AND INDUSTRIAL RECRUITMENT INCLUDES COST OF PROVIDING LEASED SPACE TO EXISTING INDUSTRY, DEVELOPMENT OF NEW JOINT INDUSTRIAL PARK WITH PITT COUNTY, AND SOFT COST OF REHABILITATING EXISTING FACILITY FOR NEW INDUSTRY.
Financial data
Revenue
Total revenue $1,004,392.00$1,067,136.00$1,705,342.00$2,736,266.00
Revenue from contributions (total)$1,858,049.00$927,312.00$294,857.00$866,384.00$1,876,044.00
Revenue from noncash contributions   $42,000.00 
Investment income, current yr -$127,442.00$154,548.00$7,670.00$4,110.00
Total revenue from grants, etc., current yr $927,312.00$294,857.00$866,384.00$1,876,044.00
Total unrelated business revenue $0.00$0.00$0.00$0.00
Other revenue, current yr $23,819.00$23,276.00$7,597.00$8,221.00
Net unrelated business taxable revenue $0.00   
Program service revenue (total)$134,169.00$180,703.00$594,455.00$823,691.00$847,891.00
Gross receipts $1,595,664.00$3,018,985.00$1,705,342.00$2,736,266.00
Sources of contributions
Revenue from gov't grants $927,312.00$294,857.00$799,384.00$1,876,044.00
Revenue from all other contributions   $67,000.00 
Other types of revenue
Miscellaneous revenue (total) $23,819.00$23,276.00$7,597.00$8,221.00
Income from dividends, interest, and similar investments $8,056.00$6,397.00$7,670.00$4,110.00
Net rental income$0.00$0.00$0.00$0.00 
Expense categories (totals)
Total functional expenses: sum of all $713,969.00$1,075,255.00$1,966,591.00$2,823,506.00
Total functional expenses: program service  $709,088.00$1,070,434.00$1,963,039.00$2,819,834.00
Total functional expenses: management and general $4,881.00$4,821.00$3,552.00$3,672.00
Total functional expenses: fundraising $0.00$0.00$0.00$0.00
Fees for services
Legal fees (total) $15,527.00$3,609.00$2,724.00$12,040.00
Fundraising service fees (total) $0.00$0.00$0.00$0.00
General management fees (total) $19,027.00   
Assets and liabilities
Total assets$6,179,066.00$5,105,008.00$6,128,046.00$7,363,340.00$8,036,549.00
Total assets, beginning of year $6,128,046.00$7,363,340.00$8,036,549.00$8,316,976.00
Total liabilities$914,042.00$1,047,020.00$2,360,481.00$3,587,656.00$3,999,616.00
Total liabilities, beginning of year $2,360,481.00$3,587,656.00$3,999,616.00$4,192,803.00
Pledges & accounts receivable, net $151,357.00$566,364.00$529,092.00 
Unrestricted net assets, end of yr $2,846,335.00$3,243,370.00$3,257,172.00$3,525,179.00
Temporarily restricted net assets $1,211,653.00$524,195.00$518,512.00$511,754.00
Net assets $4,057,988.00$3,767,565.00$3,775,684.00$4,036,933.00
Net assets, beginning of year $3,767,565.00$3,775,684.00$4,036,933.00$4,124,173.00
Other liabilities $3,500.00$4,800.00$206,004.00$317,696.00
Intangible assets   $33.00$133.00
Other assets $1,859,624.00$1,952,416.00$1,671,678.00$1,505,393.00
Cash: non-interest bearing $193,735.00$177,544.00$546,253.00$884,735.00
Cash: non-interest bearing, beginning of year $177,544.00$214,239.00$884,735.00$785,485.00
Investments -- program-related    $175,000.00
Escrow or custodial account liability $0.00$110,000.00  
Other financial variables
Revenue less expenses $290,423.00-$8,119.00-$261,249.00-$87,240.00
Advertising (total) $3,501.00$4,503.00$875.00$3,406.00
Savings & temp cash investment $357,985.00$357,722.00  
Accounts receivable, net $4,212.00$3,318.00$3,065.00$9,178.00
Accounts payable & accrued expenses $31,628.00$33,216.00$44,168.00$37,061.00
Deferred revenue $0.00$340,507.00$231,337.00$161,304.00
Secured mortgages and notes payable $1,011,892.00$1,871,958.00$3,106,147.00$3,483,555.00
Total net assets or fund balances $4,057,988.00$3,767,565.00$3,775,684.00$4,036,933.00
Depreciation, depletion, amortization $96,959.00$121,092.00$170,788.00$180,594.00
Governance and accountability
Number of voting members 1211911
Number of independent voting members 1211911
Financial sheets audited TrueTrueTrueTrue
Accrual accounting TrueTrueTrueTrue
Tax year start date 2013-07-012012-07-012011-07-012010-07-01
Tax year end date2015-06-012014-06-012013-06-012012-06-012011-06-01
Indicators for schedules (selected)
Business transaction with entity owner   TrueTrue
Business transaction with employee   TrueTrue
Grants to domestic org/gov't >$5k    True
Metadata about the filing
E-return type: 990, 990EZ, or 990PF 990990990990
Date e-filing submitted 2015-08-262014-04-032012-12-202012-03-22
IRS schema version 2013v4.02012v2.32011v1.22010v3.7
Filing identifier 201501359349302795201440799349300004201203419349300515201220629349301012
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