Mitchell County Development Foundation

Nonprofit profile at a glance

EIN
562262436
IRS 990 coverage
2017–2025
Forms available
Form 990 2025, Form 990-N 2023
Location
Spruce Pine, NC, USA
Phone
8284677253
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Theater

Reported finances

Revenue
$1,157,894
Expenses
$1,323,207
Assets
$748,451
Liabilities
$590

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • CHARLES VINES (VICE PRESIDENT)
  • JEFF GOUGE (PRESIDENT)

People named in this filing

  • LEE ELLIS (TREASURER)
  • CHARLES VINES (VICE PRESIDENT)
  • JEFF GOUGE (PRESIDENT)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote in the economic development of local mitchell county communities

What it reported doing in 2025

To promote economic development and growth of local mitchell county communities

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.

The verdict

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

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 95
  • Accountability: 88
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 78th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -14.3%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 0.57; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 21.9% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 21.6% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2017 to 2025
  • Contacts: How to reach this organization
  • Money network: 40 filed money-flow records
  • Related organizations: 38 filed related-organization links
  • 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 — Sustainability: Operating margin scored 10/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.