Srcco Inc

Marco

Durham, NC
Tax-exempt since Feb. 2002
EIN: 56-2038762

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Type of Nonprofit

Designated as a 501(c)(6) Business leagues, chambers of commerce, real estate boards, etc, created for the improvement of business conditions.

Category: Community Improvement, Capacity Building / Promotion of Business (NTEE)

Donations to this organization are not tax deductible.

Details

According to its Dec. 2023 tax filing, this nonprofit:

Reported conflict of interest transactions

Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Revenue

$44.5M (2023)

Expenses

$61.9M (2023)

Total Assets

$38.2M (2023)

Total Liabilities

$34.4M (2023)

Source: Form 990 tax filings from 2011 to 2023

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 Dec.
2023

Revenue

$44,484,022

Expenses

$61,911,717

Net Income

-$17,427,695

Net Assets

$3,836,004

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$44,080,125	99.1%
Program Services	$0
Investment Income	$403,897	0.9%
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	$768,709	1.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$453,626	0.7%

Assets/Debt
Total Assets	$38,241,286
Total Liabilities	$34,405,282
Net Assets	$3,836,004

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Todd Younkin (President & Ceo)	$180,822	$432,869	$99,705
Roman Caudillo (Program Director)	$180,000	$0	$0
Adam Knapp (Program Manager)	$148,950	$50,446	$96,650
Karen Di Spigna (Chief Accounting Officer)	$76,971	$122,426	$96,650
David Henshall (Vp Of Business Development)	$64,605	$187,490	$69,689

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990

Filed on July 10, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2022

Revenue

$45,012,595

Expenses

$39,505,984

Net Income

$5,506,611

Net Assets

$21,263,699

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$44,879,897	99.7%
Program Services	$0
Investment Income	$132,698	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	$492,874	1.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$634,642	1.6%

Assets/Debt
Total Assets	$42,830,224
Total Liabilities	$21,566,525
Net Assets	$21,263,699

Compensation

Key Employees and Officers	Compensation	Related	Other
Todd Younkin (President & Ceo)	$156,609	$353,527	$94,818
Timothy Green (Program Director)	$83,141	$98,688	$71,425
Karen Di Spigna (Chief Accounting Officer)	$72,819	$112,591	$83,560
David Henshall (Vp Of Business Development)	$65,450	$164,601	$71,242

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990

Filed on Oct. 6, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$49,465,239

Expenses

$48,931,880

Net Income

$533,359

Net Assets

$15,757,088

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$49,453,879	100.0%
Program Services	$0
Investment Income	$6,180	0.0%
Bond Proceeds	$0
Royalties	$5,180	0.0%
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	$574,091	1.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$467,070	1.0%

Assets/Debt
Total Assets	$42,497,453
Total Liabilities	$26,740,365
Net Assets	$15,757,088

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
An Chen (Program Director)	$153,355	$26,645	$0
Todd Younkin (President & Ceo)	$105,935	$264,364	$74,262
Timothy Green (Program Director)	$95,170	$95,170	$66,554
Karen Di Spigna (Chief Accounting Officer)	$64,888	$115,679	$84,507
David Henshall (Vp Of Business Development)	$55,288	$153,015	$54,810

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990

Filed on Oct. 31, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$48,050,657

Expenses

$51,521,998

Net Income

-$3,471,341

Net Assets

$15,223,729

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$47,923,580	99.7%
Program Services	$0
Investment Income	$127,014	0.3%
Bond Proceeds	$0
Royalties	$63	0.0%
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	$860,085	1.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$709,523	1.4%

Assets/Debt
Total Assets	$36,492,507
Total Liabilities	$21,268,778
Net Assets	$15,223,729

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Mr Kenneth Hansen (President And Ceo)	$352,667	$535,662	$59,036
Todd Younkin (P Resident And Ceo)	$197,609	$22,225	$19,374
An Chen (Program Director)	$155,513	$24,487	$0
Karen Di Spigna (Chief Accounting Officer)	$79,525	$99,586	$81,146

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990

Filed on Nov. 11, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$53,740,662

Expenses

$48,880,546

Net Income

$4,860,116

Net Assets

$18,695,070

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$53,515,201	99.6%
Program Services	$0
Investment Income	$224,759	0.4%
Bond Proceeds	$0
Royalties	$702	0.0%
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	$701,275	1.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$682,096	1.4%

Assets/Debt
Total Assets	$36,238,783
Total Liabilities	$17,543,713
Net Assets	$18,695,070

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Mr Kenneth Hansen (President And Ceo)	$266,014	$390,466	$82,266
Todd Younkin (Program Director)	$180,000	$0	$0
An Chen (Program Director)	$129,147	$50,853	$0
Karen Di Spigna (Chief Accounting Officer)	$63,448	$103,960	$77,389

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990

Filed on Nov. 13, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$40,972,236

Expenses

$35,122,423

Net Income

$5,849,813

Net Assets

$13,538,532

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$40,918,206	99.9%
Program Services	$0
Investment Income	$54,030	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	$600,856	1.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$754,232	2.1%

Assets/Debt
Total Assets	$34,246,347
Total Liabilities	$20,707,815
Net Assets	$13,538,532

Compensation

Key Employees and Officers	Compensation	Related	Other
Mr Kenneth Hansen (Chairman/President And Ceo)	$182,157	$421,413	$79,409
Todd Younkin (Executive Director, Jump)	$180,000	$0	$0
An Chen (Director, N Core)	$127,303	$52,697	$0
Karen Di Spigna (Chief Accounting Officer)	$59,698	$97,816	$73,171

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990

Filed on Oct. 30, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$38,798,140

Expenses

$35,494,705

Net Income

$3,303,435

Net Assets

$7,688,719

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$38,757,380	99.9%
Program Services	-$75
Investment Income	$40,835	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	$543,512	1.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$595,112	1.7%

Assets/Debt
Total Assets	$21,217,221
Total Liabilities	$13,528,502
Net Assets	$7,688,719

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Mr Kenneth Hansen (Chairman)	$209,390	$432,910	$79,512
Todd Younkin (Executive Director, Jump)	$180,000	$0	$0
Clark Mcfadden (Board Secretary)	$52,515	$0	$0
Dr Celia Merzbacher (Board Member)	$22,857	$73,140	$12,538
Dr Steven Hillenius (Board Member)	$11,181	$208,054	$23,100

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990

Filed on Aug. 17, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$39,033,527

Expenses

$37,330,831

Net Income

$1,702,696

Net Assets

$4,385,284

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$38,983,899	99.9%
Program Services	$4,125	0.0%
Investment Income	$43,903	0.1%
Bond Proceeds	$0
Royalties	$1,600	0.0%
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	$370,097	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$650,039	1.7%

Assets/Debt
Total Assets	$24,266,358
Total Liabilities	$19,881,074
Net Assets	$4,385,284

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Todd Younkin (Program Manager)	$180,000	$0	$0
Mr Kenneth Hansen (Chairman)	$107,592	$365,549	$134,681
Clark Mcfadden (Board Secretary)	$80,499	$0	$0
Dr Celia Merzbacher (Board Member)	$32,240	$201,383	$79,201
Dr Steven Hillenius (Board Member)	$6,385	$281,198	$104,680

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990

Filed on July 24, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$38,963,993

Expenses

$39,372,114

Net Income

-$408,121

Net Assets

$2,682,588

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$38,930,946	99.9%
Program Services	$0
Investment Income	$32,555	0.1%
Bond Proceeds	$0
Royalties	$492	0.0%
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	$416,088	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$494,449	1.3%

Assets/Debt
Total Assets	$22,588,743
Total Liabilities	$19,906,155
Net Assets	$2,682,588

Compensation

Key Employees and Officers	Compensation	Related	Other
Gilroy Vandentop (Program Director)	$180,000	$0	$0
Mr Larry Sumney (Chairman (Through 05/2015))	$77,314	$491,470	$193,905
Mr Kenneth Hansen (Chairman (As Of 06/2015))	$33,605	$213,621	$63,886
Dr Steven Hillenius (Board Member)	$30,360	$308,954	$110,045
Dr Celia Merzbacher (Board Member (As Of 06/2015))	$27,473	$234,284	$82,762
Dr William Joyner (Board Member (Through 05/2015))	$10,436	$232,174	$77,390

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990

Filed on Oct. 25, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$39,940,823

Expenses

$39,486,911

Net Income

$453,912

Net Assets

$3,090,709

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$39,902,988	99.9%
Program Services	$0
Investment Income	$29,873	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$7,962	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$361,430	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$585,123	1.5%

Assets/Debt
Total Assets	$22,659,619
Total Liabilities	$19,568,910
Net Assets	$3,090,709

Compensation

Key Employees and Officers	Compensation	Related	Other
Gilroy Vandentop (Program Director)	$180,000	$0	$0
Mr Larry Sumney (Chairman)	$98,703	$560,633	$213,163
Dr Steven Hillenius (Board Member)	$35,372	$323,371	$156,647
William Joyner (Board Member)	$11,234	$225,788	$97,390

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990

Filed on Nov. 11, 2015

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Fiscal Year Ending Dec.
2013

Revenue

$33,274,387

Expenses

$40,823,117

Net Income

-$7,548,730

Net Assets

$2,636,797

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$33,243,489	99.9%
Program Services	$0
Investment Income	$30,898	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	$393,078	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$728,950	1.8%

Assets/Debt
Total Assets	$27,796,053
Total Liabilities	$25,159,256
Net Assets	$2,636,797

Compensation

Key Employees and Officers	Compensation	Related	Other
Gilroy Vandentop (Program Director)	$180,000	$0	$0
Mr Larry Sumney (Chairman)	$85,720	$385,013	$354,240
Dr Steven Hillenius (Board Member)	$41,525	$304,808	$157,759
William Joyner (Board Member)	$13,272	$217,163	$98,304

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990

Filed on Nov. 12, 2014

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Fiscal Year Ending Dec.
2012

Revenue

$28,525,311

Expenses

$24,396,566

Net Income

$4,128,745

Net Assets

$10,185,527

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$28,482,749	99.9%
Program Services	$0
Investment Income	$41,762	0.1%
Bond Proceeds	$0
Royalties	$800	0.0%
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	$506,893	2.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$789,185	3.2%

Assets/Debt
Total Assets	$18,150,075
Total Liabilities	$7,964,548
Net Assets	$10,185,527

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$30,952,487

Expenses

$29,279,391

Net Income

$1,673,096

Net Assets

$6,056,782

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$29,815,442	96.3%
Program Services	$0
Investment Income	$63,237	0.2%
Bond Proceeds	$0
Royalties	$1,071,130	3.5%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$2,678	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$502,809	1.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$856,765	2.9%

Assets/Debt
Total Assets	$20,957,536
Total Liabilities	$14,900,754
Net Assets	$6,056,782

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2004

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

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

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Updated October 30, 2024

Srcco Inc

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $44.5M (2023)

Expenses $61.9M (2023)

Total Assets $38.2M (2023)

Total Liabilities $34.4M (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Revenue

$44.5M (2023)

Expenses

$61.9M (2023)

Total Assets

$38.2M (2023)

Total Liabilities

$34.4M (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004