Olive Hill Community Economic Development Corporation

Nonprofit profile at a glance

EIN
311639629
IRS 990-EZ coverage
2010–2025
Forms available
Form 990 2022, Form 990-EZ 2025
Location
Morganton, NC, USA
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$73,324
Expenses
$94,903
Assets
$16,093

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Beverly Carlton (Executive Director)
  • Winston Hill Jr (Board President)

People named in this filing

  • Beverly Carlton (Executive Director)
  • Winston Hill Jr (Board President)
  • Leslie Kern (Board Secretary)

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

Olive Hill Community Economic Development Corporation Inc. empowers low-to-moderate-income individuals across Burke Caldwell Catawba and McDowell Counties through housing counseling financial literacy disaster recovery and small business development. We support clients in achieving homeownership avoiding foreclosure building credit and growing microenterprises. In 2025 Olive Hill CEDC served up to 500 individuals through one-on-one counseling financial workshops and post-disaster housing recovery services following Tropical Storm Helene. Our work includes culturally responsive outreach small business and nonprofit support and equity-focused programs that promote economic mobility. We also host community engagement events and partner with local institutions to expand access to essential services.

What it reported doing in 2025

Foreclosure Prevention and Housing Stability: Olive Hill CEDC provided foreclosure prevention and housing stability counseling to homeowners experiencing mortgage delinquency financial hardship job loss reduced income medical challenges and other circumstances threatening their ability to remain housed. Services included individualized financial assessments household budgeting review of mortgage and delinquency information assistance communicating with mortgage servicers loss-mitigation preparation and development of written action plans. Clients received guidance on repayment plans loan modifications forbearance options available assistance programs and other alternatives to foreclosure when appropriate. OHCEDC also coordinated referrals to legal financial and community resources when additional assistance was needed. These services helped homeowners better understand their options respond to servicer requirements address delinquency and work toward preserving stabl

Operating model

Revenue model
Earned-program. 66% of the money available for current operations came from fees and other program revenue.
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. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 100
  • Sustainability: 13
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; 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: -29.4%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 0.17; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 46.4%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -0.7% per year; rating input score 0; 45th percentile among comparable filings
  • Revenue growth: -7.4% per year; rating input score 0; 29th percentile among comparable filings
  • Asset growth: -11.6% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 7 filed program accomplishments · $95K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Sustainability: Operating margin scored 17/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.