Nc Sound Economy Inc

Nonprofit profile at a glance

EIN
813648296
IRS 990-EZ coverage
2016–2025
Forms available
Form 990-EZ 2025
Location
Raleigh, NC, USA
Phone
9194247262
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$50,040
Expenses
$50,833
Assets
$54,933
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • ALLEN E GANT JR (PRESIDENT)

People named in this filing

  • ALLEN E GANT JR (PRESIDENT)
  • THOMAS G HURT (SECRETARY/TREASURER)
  • DOYLE PARRISH (DIRECTOR)

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

Overview

Mission

Promoting the social welfare of the people of the state of North Carolina by a) educating the general public about the economic impact of the state's fisheries management laws and policies; b) advocating for reforms to such laws and policies that will help increase the state's fish stocks; c) engaging in any and all lawful activities that are appropriate to carry out and fulfill any or all of such purposes.

What it reported doing in 2025

Advocated for improvements to laws and policies that will helpincrease the abundance of the state's fish stocks while growing their economic value. Educated policy makers and the people of North Carolina regarding those issues, highlighting the need for timely and accurate fisheries data. Nc sound economy assisted with draft legislation and provided continued support for a mandatory harvest reporting system intended to eliminate data gaps in both commercial and recreational fisheries. This included advocating for a $5 million budget provision to be directed to the nc division of marine fisheries to develop the harvest reporting platforms. Both the new harvest legislation and the $5 million in funding for project implementation were ultimately approved by the nc general assembly.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 100
  • Sustainability: 47
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.9%; rating input score 86
  • Program expense ratio: 84.6%; rating input score 85

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -1.6%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 1.08; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -14.3% per year; rating input score 0; 24th percentile among comparable filings
  • Revenue growth: -13.5% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: 18.7% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 85.9% of revenue deployed · 84.6% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $43K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 10 filing years from 2016 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.