Centralina Economic Development Com

Nonprofit profile at a glance

EIN
203344901
IRS 990-EZ coverage
2023–2024
Forms available
Form 990 2022, Form 990-EZ 2024
Location
Charlotte, NC, USA
Phone
7043482704
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$181,079
Expenses
$190,518
Assets
$37,179
Liabilities
$1,509

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

Leadership & pay

1 person listed

People named in this filing

  • CLIFF BRUMFIELD (CHAIRMAN)

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

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

Overview

Mission

Maintain the region's economic developoment district.

What it reported doing in 2024

The southeast crescent regional commission (scrc) funds focuses on equitable access and support for distressed, rural, suburban, and urban areas. Through projects like the integrated mobility center and the digital inclusion framework, centralina has strengthened transportation and digital inclusion opportunities for marginalized communities. Initiatives focused on transportation demand management will improve mobility options for seniors and individuals with disabilities, and pre-disaster recovery training in underserved counties such as anson has strengthened disaster preparedness and resilience. Centralina's workforce initiatives, including its partnership with the carolinas innovation center for optics and metrology (cicom) tech hub, emphasize access to high-demand jobs in optics and metrology. This collaboration with unc charlotte increases awareness of career pathways in optics among k-12 students, offers flexible training options, and addresses barriers such as childcare and transportation, particularly for residents in economically distressed areas. The nc innovation efforts with unc charlotte and cicom focus on growing the regional optics and metrology industries. By fostering innovation across both rural and urban settings, these programs leverage local workforce strengths, particularly in rural communities engaged in specialized manufacturing. Centralina's emphasis on making entrepreneurial resources and advanced technology accessible throughout the region aligns with the broader scrc strategic plan, creating a resilient, inclusive economic ecosystem that serves both high-density urban centers and economically vulnerable rural zones.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 82
  • Sustainability: 27
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.5%; rating input score 97

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -5.2%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: -22.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -33.8% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.5% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 3 filed program accomplishments · $186K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2023 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.