Brunswick County Economic Development Foundation Inc

Nonprofit profile at a glance

EIN
454769194
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Leland, NC, USA
Phone
9102535325
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$802,602
Expenses
$747,819
Assets
$795,476
Liabilities
$222,297

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

People named in this filing

  • KIMBERLY WIGGS GAMIN (BOARD MEMBER)
  • ALLEN BRYANT (CHAIRMAN)
  • MORRIS RAY SKIPPER (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Services seeking job creation and advancement of economic development for jobs.

What it reported doing in 2024

Publicity of the postive labor force enviorment and availability of real property for business development.

Operating model

Revenue model
Grant-funded. 88% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.4%; rating input score 86
  • Program expense ratio: 92.5%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.8%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.06; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 39.7% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 18.4% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 20.2% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 86.4% of revenue deployed · 92.5% of spending went to programs
  • Governance: 15 of 15 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $692K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Review — Sustainability: Operating margin scored 55/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.