Smithfield Selma Chamber Economic Development Foundation

Nonprofit profile at a glance

EIN
272039206
IRS 990-EZ coverage
2011–2025
Forms available
Form 990-EZ 2025, Form 990-N 2017
Location
Smithfield, NC, USA
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$91,220
Expenses
$24,870
Assets
$189,081

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

Leadership & pay

5 people listed

Executive titles in this filing

  • KELLY WALLACE (PRESIDENT)

People named in this filing

  • JIM JENKINS (VICE-CHAIR)
  • SUSAN LASSITER (SECRETARY)
  • LEE BYRD (TREASURER)

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

The triangle east economic development foundation was established to promote the economic well being of the triangle east region of North Carolina.through the foundation we can raise funding to help promote programs and projects that develop the region into a nationally competitive , economically diverse, relevant and collabortive community. The foundation was formed exclusively for charitable, educational, and economic development fundraising to support chamber and community programs.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 73% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 82
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 24.3%; rating input score 24
  • Program expense ratio: 87.8%; rating input score 88

Transparency & Controls

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

Sustainability

  • Operating margin: 72.7%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 7.6; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 12.9% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 13.3% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 24.3% of revenue deployed · 87.8% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $22K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 12 filing years from 2011 to 2025
  • 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 — Financial Efficiency: Mission deployment rate scored 24/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.