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Cabarrus Economic Development Inc

Organization summary

Type of Nonprofit

Designated as a Civic leagues, social welfare organizations and local associations of employees, created to promote community welfare for charitable, educational or recreational purposes.

Donations to this organization are not tax deductible.

Summary charts: organization finances over time

Revenue
$786k (2024)

Expenses
$897k (2024)

Total Assets
$844k (2024)

Total Liabilities
$174k (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2024

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$785,868
Expenses
$896,797
Net Income
-$110,929
Net Assets
$670,782
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $780,490
99.3%
Investment Income $5,378
0.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $463,333
51.7%
Assets/Debt
Total Assets $844,380
Total Liabilities $173,598
Net Assets $670,782
Compensation
Key Employees and Officers Compensation Related Other
Lloyd Payne (Board Member) $0 $0 $0
Mike Legg (Treasurer) $0 $0 $0
Mike Downs (Secretary) $0 $0 $0
Doug Paris (Board Member) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Steve Fisher (Vice Chair) $0 $0 $0
Michael Wilson (Board Member) $0 $0 $0
Greg Walter (Past Chair) $0 $0 $0
Sharee Carter (Board Chair) $0 $0 $0
Jay Eaves (Board Member) $0 $0 $0
Rob Donham (Board Member) $0 $0 $0
Donna Carpenter (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$698,355
Expenses
$753,850
Net Income
-$55,495
Net Assets
$781,711
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $697,391
99.9%
Investment Income $964
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $356,811
47.3%
Assets/Debt
Total Assets $930,067
Total Liabilities $148,356
Net Assets $781,711
Compensation
Key Employees and Officers Compensation Related Other
Lloyd Payne (Board Member) $0 $0 $0
Mike Legg (Treasurer) $0 $0 $0
Mike Downs (Secretary) $0 $0 $0
Doug Paris (Board Member) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Steve Fisher (Vice Chair) $0 $0 $0
Michael Wilson (Board Member) $0 $0 $0
Greg Walter (Past Chair) $0 $0 $0
Sharee Carter (Board Chair) $0 $0 $0
Jay Eaves (Board Member) $0 $0 $0
Rob Donham (Board Member) $0 $0 $0
Donna Carpenter (Board Chair) $0 $0 $0
Roy Hawkins (Board Chair) $0 $0 $0

Document Links

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$866,942
Expenses
$581,063
Net Income
$285,879
Net Assets
$837,206
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $866,835
100.0%
Investment Income $107
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $284,849
49.0%
Assets/Debt
Total Assets $973,565
Total Liabilities $136,359
Net Assets $837,206
Compensation
Key Employees and Officers Compensation Related Other
Lloyd Payne (Board Member) $0 $0 $0
Mike Legg (Treasurer) $0 $0 $0
Donna Carpenter (Board Member) $0 $0 $0
Mike Downs (Secretary) $0 $0 $0
Doug Paris (Board Member) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Rodney Ball (Board Member) $0 $0 $0
Steve Fisher (Vice Chair) $0 $0 $0
Michael Wilson (Board Member) $0 $0 $0
Greg Walter (Past Chair) $0 $0 $0
Sharee Carter (Board Chair) $0 $0 $0
Jay Eaves (Board Member) $0 $0 $0
Rob Donham (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$748,631
Expenses
$680,627
Net Income
$68,004
Net Assets
$551,327
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $748,229
99.9%
Investment Income $402
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $330,769
48.6%
Assets/Debt
Total Assets $597,044
Total Liabilities $45,717
Net Assets $551,327
Compensation
Key Employees and Officers Compensation Related Other
Lloyd Payne (Board Secretary) $0 $0 $0
Mike Legg (Board Member) $0 $0 $0
Donna Carpenter (Board Member) $0 $0 $0
Mike Downs (Board Member) $0 $0 $0
Doug Paris (Board Member) $0 $0 $0
Haynes Brigman (Board Member) $0 $0 $0
Sharee Carter (Board Member) $0 $0 $0
Mark Spitzer (Board Member) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Rodney Ball (Board Member) $0 $0 $0
Steve Fisher (Board Member) $0 $0 $0
Greg Walter (Board Vice Chair) $0 $0 $0
Michael Wilson (Board Treasurer) $0 $0 $0
Tammy Whaley (Board Chair) $0 $0 $0
Barbi Jones (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$714,466
Expenses
$718,710
Net Income
-$4,244
Net Assets
$483,323
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $714,113
100.0%
Investment Income $353
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $432,014
60.1%
Assets/Debt
Total Assets $552,832
Total Liabilities $69,509
Net Assets $483,323
Compensation
Key Employees and Officers Compensation Related Other
Lloyd Payne (Board Secretary) $0 $0 $0
Mike Legg (Board Member) $0 $0 $0
Donna Carpenter (Board Member) $0 $0 $0
Mike Downs (Board Member) $0 $0 $0
Doug Paris (Board Member) $0 $0 $0
Haynes Brigman (Board Member) $0 $0 $0
Scott Lampe (Board Member) $0 $0 $0
Mark Spitzer (Board Member) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Rodney Ball (Board Member) $0 $0 $0
Steve Fisher (Board Member) $0 $0 $0
Ron Hinson (Board Member) $0 $0 $0
Tim Hagler (Board Vice Chair) $0 $0 $0
Michael Wilson (Board Treasurer) $0 $0 $0
Tammy Whaley (Board Chair) $0 $0 $0

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$714,473
Expenses
$628,530
Net Income
$85,943
Net Assets
$487,567
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $707,050
99.0%
Investment Income $423
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $7,000
1.0%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $357,827
56.9%
Assets/Debt
Total Assets $567,331
Total Liabilities $79,764
Net Assets $487,567
Compensation
Key Employees and Officers Compensation Related Other
Lloyd Payne (Board Secretary) $0 $0 $0
Mike Legg (Board Member) $0 $0 $0
Donna Carpenter (Board Member) $0 $0 $0
Mike Downs (Board Member) $0 $0 $0
Doug Paris (Board Member) $0 $0 $0
Haynes Brigman (Board Member) $0 $0 $0
Scott Lampe (Board Member) $0 $0 $0
Mark Spitzer (Board Member) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Phyllis Wingate (Board Member) $0 $0 $0
Steve Fisher (Board Member) $0 $0 $0
Ron Hinson (Board Member) $0 $0 $0
Tim Hagler (Board Vice Chair) $0 $0 $0
Michael Wilson (Board Treasurer) $0 $0 $0
Tammy Whaley (Board Chair) $0 $0 $0

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$693,862
Expenses
$662,365
Net Income
$31,497
Net Assets
$401,624
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $694,380
> 100%
Investment Income $423
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$941
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $395,043
59.6%
Assets/Debt
Total Assets $510,033
Total Liabilities $108,409
Net Assets $401,624
Compensation
Key Employees and Officers Compensation Related Other
Brian Hiatt (Board Member) $0 $0 $0
Mike Legg (Board Member) $0 $0 $0
Donna Carpenter (Board Member) $0 $0 $0
Mike Downs (Board Member) $0 $0 $0
Doug Paris (Board Member) $0 $0 $0
Haynes Brigman (Board Member) $0 $0 $0
Scott Lampe (Board Chair) $0 $0 $0
Mark Spitzer (Board Member) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Phyllis Wingate (Board Member) $0 $0 $0
Steve Fisher (Board Member) $0 $0 $0
Ron Hinson (Board Member) $0 $0 $0
Tim Hagler (Board Member) $0 $0 $0
Tammy Whaley (Treasurer) $0 $0 $0
Michael Wilson (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$698,613
Expenses
$708,436
Net Income
-$9,823
Net Assets
$370,127
Notable Sources of Revenue Percent of Total Revenue
Contributions $11,000
1.6%
Program Services $687,188
98.4%
Investment Income $425
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $357,776
50.5%
Assets/Debt
Total Assets $449,542
Total Liabilities $79,415
Net Assets $370,127
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Brian Hiatt (Board Secretary) $0 $0 $0
Mike Legg (Board Member) $0 $0 $0
Donna Carpenter (Board Member) $0 $0 $0
Mike Downs (Board Member) $0 $0 $0
Doug Paris (Board Member) $0 $0 $0
Haynes Brigman (Board Member) $0 $0 $0
Scott Lampe (Board Chair, Treasurer) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Phyllis Wingate (Board Member) $0 $0 $0
Steve Fisher (Board Treasurer) $0 $0 $0
Ron Hinson (Board Member) $0 $0 $0
Tim Hagler (Board Member) $0 $0 $0
Tammy Whaley (Board Member) $0 $0 $0
Michael Wilson (Board Member) $0 $0 $0
Mark Spitzer (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$687,500
Expenses
$582,527
Net Income
$104,973
Net Assets
$379,950
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,000
0.1%
Program Services $686,441
99.8%
Investment Income $59
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $24,450
4.2%
Assets/Debt
Total Assets $415,394
Total Liabilities $35,444
Net Assets $379,950
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Brian Hiatt (Board Member) $0 $0 $0
Mike Legg (Board Member) $0 $0 $0
Donna Carpenter (Board Member) $0 $0 $0
Mike Downs (Board Member) $0 $0 $0
Doug Paris (Board Member) $0 $0 $0
Bobby Williams (Board Member) $0 $0 $0
Scott Lampe (Board Chair) $0 $0 $0
Gary Walker (Board Member) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Phyllis Wingate (Board Member) $0 $0 $0
Steve Fisher (Board Treasurer) $0 $0 $0
Ron Hinson (Board Member) $0 $0 $0
Tim Hagler (Board Member) $0 $0 $0
Marc Shepherd (Board Vice Chair) $0 $0 $0
Tammy Whaley (Board Member) $0 $0 $0
Michael Wilson (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$539,398
Expenses
$507,623
Net Income
$31,775
Net Assets
$274,977
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,000
0.9%
Program Services $534,051
99.0%
Investment Income $347
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $274,977
Total Liabilities $0
Net Assets $274,977
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lynne Scott Safrit (Board Chair) $0 $0 $0
Brian Hiatt (Board Member) $0 $0 $0
Mike Legg (Board Member) $0 $0 $0
Donna Carpenter (Board Member) $0 $0 $0
Mike Downs (Board Member) $0 $0 $0
Doug Paris (Board Member) $0 $0 $0
Mike Rose (Board Member) $0 $0 $0
Scott Lampe (Board Vice Chair) $0 $0 $0
Gary Walker (Board Member) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Phyllis Wingate (Board Member) $0 $0 $0
Steve Fisher (Board Member) $0 $0 $0
Ron Hinson (Board Member) $0 $0 $0
Tim Hagler (Board Member) $0 $0 $0
Marc Shepherd (Board Treasurer) $0 $0 $0
Tammy Trexler Whaley (Board Member) $0 $0 $0
Michael Wilson (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$612,292
Expenses
$541,697
Net Income
$70,595
Net Assets
$243,202
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $611,518
99.9%
Investment Income $774
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $243,202
Total Liabilities $0
Net Assets $243,202
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lynne Scott Safrit (Board Chair) $0 $0 $0
Brian Hiatt (Board Member) $0 $0 $0
Mike Legg (Board Member) $0 $0 $0
Donna Carpenter (Board Member) $0 $0 $0
Mike Downs (Board Member) $0 $0 $0
David Pugh (Board Member) $0 $0 $0
Mike Rose (Board Member) $0 $0 $0
Scott Lampe (Board Member) $0 $0 $0
Mark Stubblefield (Board Member) $0 $0 $0
Randy Holloway (Board Member) $0 $0 $0
Phyllis Wingate (Board Member) $0 $0 $0
Dianne Honeycutt (Board Member) $0 $0 $0
Coleman Keeter (Board Member) $0 $0 $0
Tim Hagler (Board Member) $0 $0 $0
Marc Shepherd (Board Member) $0 $0 $0
Tammy Trexler Whaley (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$458,986
Expenses
$591,798
Net Income
-$132,812
Net Assets
$172,607
Notable Sources of Revenue Percent of Total Revenue
Contributions $55,000
12.0%
Program Services $403,138
87.8%
Investment Income $848
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $172,607
Total Liabilities $0
Net Assets $172,607

Document Links

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$488,200
Expenses
$511,593
Net Income
-$23,393
Net Assets
$305,419
Notable Sources of Revenue Percent of Total Revenue
Contributions $115,000
23.6%
Program Services $371,868
76.2%
Investment Income $1,332
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $305,419
Total Liabilities $0
Net Assets $305,419

Document Links

Fiscal Year Ending June
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$538,497
Expenses
$527,827
Net Income
$10,670
Net Assets
$328,812
Notable Sources of Revenue Percent of Total Revenue
Contributions $160,000
29.7%
Program Services $377,216
70.0%
Investment Income $1,281
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $328,812
Total Liabilities $0
Net Assets $328,812

Document Links

Fiscal Year Ending June
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
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  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
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  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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