North Carolina's Northeast
Nonprofit profile at a glance
- EIN
- 202055396
- IRS 990-EZ coverage
- 2012–2012
- Forms available
- Form 990-EZ 2012
- Location
- Edenton, NC, USA
- Phone
- 2524824333
- Rating
- 64
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $50,311
- Expenses
- $2,111
- Assets
- $499,830
Source: IRS Form 990-EZ. Selected filing: tax year 2012. Amounts in USD.
Leadership & pay
6 people listed
Source: IRS Form 990-EZ. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To alleviate poverty and increase the economic activity and employment in the 16 rural counties in nc's northeast region by providing an additional source of funding to companies seeking to begin, expand or enhance their presence in this distressed area.
What it reported doing in 2012
To provide funding to build a pilot extraction facility, whose mission is to support the biotechnology and agricultural industry and support advances in the plant biotechnology sector market. The state-of-the-art facility will also support educational, training and co-op support for the nc university and community college systems, providing a collaborative environment among business, education, and scientific research.
Operating model
- Revenue model
- Donor-supported. 99% 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
SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and the available information about grant readiness automatic revocation leaves an important question unanswered.
Rating breakdown
- Financial Efficiency: 41
- Transparency & Controls: 100
- Sustainability: 76
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 4.8%; rating input score 5
- Program expense ratio: 99.8%; rating input score 100
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: 95.8%; rating input score 100; 100th percentile among comparable filings
- Total-asset coverage ratio: 236.77; rating input score 100; 100th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: Limited
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 4.8% of revenue deployed · 99.8% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $2K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 3 filed schedules
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Mission deployment rate scored 5/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.