2025-09-09T12:10:17-05:00 2024-12-31 920370318 REDPATH AND COMPANY LLC 400 ROBERT ST N SUITE 1600 ST PAUL MN 55101 990 2024-01-01 841779855 NORTH CAROLINA EMPLOYEE OWNERSHIP CENTER NORT 9193391611 PO BOX 1048 DURHAM NC 277021048 LA-TASHA BEST-GADDY TREASURER 9193391611 2025-08-20 1 0 CATHY A LYDON P03217215 6514267000 2025-08-20 2024 2025-03-06 01:10:19Z 168457 0 X WWW.NCEOC.ORG X 2019 NC PROTECT JOBS, INCREASE COMMUNITY WEALTH, & CREATE A MORE INCLUSIVE ECONOMY THROUGH EMPLOYEE OWNERSHIP. 11 10 2 22 0 0 251636 165390 0 0 59 87 -2093 -51 249602 165426 0 0 0 0 106823 32983 18000 18000 61205 31771 165173 156594 216156 93008 -50730 219318 173399 3889 8700 215429 164699 X THE NORTH CAROLINA EMPLOYEE OWNERSHIP CENTER IS AN EDUCATIONAL NONPROFIT WHOSE MISSION IS TO PROTECT JOBS, INCREASE COMMUNITY WEALTH, AND CREATE A MORE VIBRANT, INCLUSIVE ECONOMY THROUGH EMPLOYEE OWNERSHIP. 0 0 77600 0 0 OUR MAJOR PROGRAM AREAS INCLUDE TELLING STORIES, FORGING PARTNERSHIPS, AND PROVIDING UNBIASED INFORMATION AROUND ALL TYPES OF EMPLOYEE OWNERSHIP (EMPLOYEE STOCK OWNERSHIP PLANS (ESOPS), WORKER COOPERATIVES, AND EMPLOYEE OWNERSHIP TRUSTS (EOTS), BOTH AS AN EXIT PLANNING AND A BUSINESS GROWTH TOOL TO BUSINESSES AND A BROAD VARIETY OF STAKEHOLDERS (BUSINESS ADVISORS, ECONOMIC DEVELOPERS, COMMUNITY MEMBERS).SEE SCHEDULE O FOR ADDITIONAL DETAILS.WE ARE BUILDING A STRONG ECOSYSTEM TO PROVIDE SUPPORT FOR PRIVATELY HELD BUSINESSES TO CONVERT TO EMPLOYEE OWNERSHIP, AND WE MODEL DOING BUSINESS WITH EMPLOYEE-OWNED FIRMS. NCEOC HAS A PARTICULAR FOCUS ON INCREASING WEALTH BUILDING OPPORTUNITIES FOR BLACK, INDIGENOUS, PEOPLE OF COLOR (BIPOC)-OWNED BUSINESSES AND BUSINESSES WITH MAJORITY-BIPOC WORKFORCES. WE VIEW EMPLOYEE OWNERSHIP AS A CRITICAL TOOL TO ACHIEVE THESE GOALS. BY EDUCATING COMMUNITIES, BUSINESSES, AND ECONOMIC DEVELOPERS ON EMPLOYEE OWNERSHIP AND HELPING TO CONVERT BUSINESS TO ESOPS, WORKER COOPERATIVES, AND OTHER STRUCTURES, WE HELP BROADEN ECONOMIC OPPORTUNITY TO BENEFIT TRADITIONALLY DISADVANTAGED GROUPS. AS WE STRIVE TO ADDRESS THESE CHALLENGES, WE ARE OPTIMISTIC THAT THREE OPPORTUNITIES WILL ARISE:-GROWING AWARENESS AND INTEREST: EMPLOYEE OWNERSHIP CAN BE A POWERFUL TOOL FOR BUILDING WEALTH AND CREATING MORE EQUITABLE WORKPLACES, AND THERE IS GROWING INTEREST IN THIS MODEL ACROSS THE COUNTRY. A RECENT STUDY REVEALED THAT BEING PART OF AN ESOP RESULTED IN 92% HIGHER MEDIAN HOUSEHOLD WEALTH, 33% HIGHER MEDIAN INCOME FROM WAGES, AND 53% LONGER MEDIAN JOB TENURE.-COLLABORATIVE NETWORKS AND PARTNERSHIPS: THERE ARE MANY ORGANIZATIONS AND NETWORKS WORKING TO ADVANCE RACIAL EQUITY AND BUILD POWER IN COMMUNITIES OF COLOR, AND BUILDING STRONG PARTNERSHIPS ACROSS SECTORS CAN AMPLIFY OUR IMPACT.-SUPPORTIVE POLICIES AND INSTITUTIONS: POLICIES AND INSTITUTIONS THAT PROMOTE EQUITY AND INCLUSION CAN CREATE A MORE FAVORABLE ENVIRONMENT FOR POWER BUILDING AND HELP LEVEL THE PLAYING FIELD FOR COMMUNITIES OF COLOR.SINCE ITS FOUNDING IN 2019 NCEOC HAS SUCCESSFULLY BUILT STRONG RELATIONSHIPS IN COMMUNITIES AROUND THE STATE, DEVELOPED EFFECTIVE EDUCATION MATERIALS, AND NETWORKED WITH ADVISORS, PARTNERS, AND RETIRING BUSINESS OWNERS. ACTIVITIES INCLUDE:-THREE SUCCESSFUL BILINGUAL CELEBRATIONS OF EMPLOYEE OWNERSHIP IN OCTOBER 2020 (ONLINE), AND OCTOBER 2022 & OCTOBER 2023 (IN PERSON IN WINSTON-SALEM) HIGHLIGHTING RECENTLY CONVERTED EMPLOYEE OWNED COMPANIES AND LOCALLY ROOTED BIPOC WORKER COOPERATIVES (SOW TRUE SEED, SHOPBOT TOOLS, KONTEK, CAKTUS GROUP, PODER EMMA, LITTLE GENIUS CHILDCARE, EQUINOX WOODWORKS, CITI INC. SYSTEMS INTEGRATOR, OPPORTUNITY THREADS, AND VALDESE WEAVERS).-ONE-ON-ONE MEETINGS WITH MORE THAN 30 BUSINESSES, RESULTING IN 25% OF THEM ACTIVELY PURSUING EMPLOYEE OWNERSHIP CONVERSIONS.-OUTREACH TO 1,800 BLACK, INDIGENOUS, AND PEOPLE OF COLOR (BIPOC)-OWNED BUSINESSES THROUGHOUT THE STATE; PARTNERSHIP WITH THE CITY OF DURHAM ASSISTING LEGACY BLACK-OWNED BUSINESSES WITH SUCCESSION PLANNING.-50,000+ PEOPLE REACHED THROUGH PAID SOCIAL MEDIA, FOCUSING ON RETIRING BUSINESS OWNERS, RURAL AREAS, AND BIPOC-OWNED BUSINESSES.-50+ PRESENTATIONS TO ECONOMIC DEVELOPMENT ORGANIZATIONS ACROSS THE STATE.-QUARTERLY WEBINARS ON EMPLOYEE OWNERSHIP AND SUCCESSION PLANNING TO THE SMALL BUSINESS CENTER NETWORK IN 2023-2024; PRESENTATION TO ALL THE SMALL BUSINESS TECHNOLOGY DEVELOPMENT CENTER BUSINESS ADVISORS (SBTDCS) IN 2023.-COMMUNITY-BASED WORK IN DURHAM, WINSTON SALEM, CHARLOTTE, AND SMALLER EASTERN NC COUNTIES INCLUDING MARTIN AND HALIFAX COUNTY, WHILE ESTABLISHING PARTNERSHIPS AND SECURING FUNDING SOURCES FOR THE GREATER ASHEVILLE REGION.-CREATED NETWORK OF SERVICE PROVIDERS TO PROVIDE BUSINESS OWNERS WITH TECHNICAL ASSISTANCE.-COLLABORATED WITH INDIVIDUAL INVESTORS, LENDERS, AND FOUNDATIONS TO PROVIDE FUNDING FOR EMPLOYEE OWNERSHIP CONVERSIONS.-CREATED EMPLOYEE OWNERSHIP AMBASSADOR PROGRAM TO EDUCATE KEY COMMUNITY STAKEHOLDERS IN EMPLOYEE OWNERSHIP BASICS; SUCCESSFULLY GRADUATED THE FIRST THREE COHORTS AND EXPANDED THE PROGRAM TO INCLUDE A PARTNERSHIP WITH THE MINNESOTA CENTER FOR EMPLOYEE OWNERSHIP IN 2024.-WITH NC GROWTH, CREATED A PRIORITY BUSINESS INDEX OF MEDIUM TO LARGE PRIVATELY HELD BUSINESSES IN NC WITH OWNERS NEARING RETIREMENT AGE AND WITH SIGNIFICANT BIPOC WORKFORCES.IN OUR STATE THERE IS A LARGE NEED FOR SUCCESSION PLANNING SUPPORT TO SAVE JOBS, REVENUE, AND PAYROLL. EMPLOYEE OWNERSHIP COULD PROVIDE THESE EMPLOYEES WITH THE LASTING IMPACT OF WEALTH BUILDING OPPORTUNITIES THAT COULD IMPACT THEMSELVES, THEIR FAMILIES, AND THEIR COMMUNITIES FOR YEARS TO COME. 77600 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 8 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 NC X THE ORGANIZATION 9193391611 PO BOX 1048 DURHAM NC 277021048 MERALD HOLLOWAY CHAIR 1.00 X X 0 0 0 ANNE-CLAIRE BROUGHTON BOARD MEMBER/INTERIM EXECUTIVE DIRECTOR 1.00 X X 0 0 0 LA-TASHA BEST-GADDY TREASURER 1.00 X X 0 0 0 PATRICK MCHUGH SECRETARY 1.00 X 0 0 0 LAUREN TUDOR PART YEAR EXECUTIVE DIRECTOR 40.00 X X 20328 0 0 STEVE STORKAN DIRECTOR 1.00 X 0 0 0 ZARIN KRESGE DIRECTOR 1.00 X 0 0 0 ANDREW FOSTER DIRECTOR 1.00 X 0 0 0 AARON DAWSON DIRECTOR 1.00 X 0 0 0 TEIA EVANS DIRECTOR 1.00 X 0 0 0 PAMELA COLLEY DIRECTOR 1.00 X 0 0 0 COLIN KISER DIRECTOR 1.00 X 0 0 0 CHRISTY ALMOND PART YEAR DIRECTOR 1.00 X 0 0 0 20328 0 0 0 0 0 0 0 165390 165390 87 87 2980 3031 -51 -51 165426 0 0 36 X 20328 8131 7115 5082 9375 3750 3281 2344 3280 1134 1252 894 400 400 14230 14230 18000 18000 86327 9851 43370 33106 3635 3635 6788 2081 2928 1779 935 884 51 402 144 258 831 831 PROGRAM EXPENSES 51600 51600 GIFTS AND GIFT CARD PUR 25 25 216156 77600 77351 61205 210393 173399 5500 0 3425 0 219318 173399 3889 8700 3889 8700 X 215429 164699 215429 164699 219318 173399 -50730 0 X 1 X 0 0 0 X 85816 102721 216654 251636 165890 822717 85816 102721 216654 251636 165890 822717 401977 420740 3 59 59 87 208 1136 250 1386 824311 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X X 1 JUNE STRATEGIES 3599 KOSEC DR RED WING MN 55066 GRANT WRITING 0 15000 15000 0 AGILE ADVANCEMENT PARTNERS 921 5TH STREET NORTH STILLWATER MN 55082 GRANT WRITING 0 3000 3000 0 18000 18000 NC ANNE-CLAIRE BROUGHTON OWNER OF BROUGHTON CONSULTING 59500 COMPENSATION FOR SERVICES WHILE SERVING AS INTERIM EXECUTIVE DIRECTOR 0 FORM 990, PART VI, SECTION A, LINE 1A THERE IS AN EXECUTIVE COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE TREASURER REVIEWS A DRAFT OF FORM 990 AND RECOMMENDS APPROVAL TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS RECEIVES AND APPROVES FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED AND SIGNED BY THE BOARD OF DIRECTORS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS ANNUALLY LOOKS AT COMPARABLE SALARIES FOR SIMILAR SIZED NONPROFITS IN NORTH CAROLINA PROVIDED BY THE NC CENTER FOR NONPROFITS. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND ORGANIZING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PAYROLL PROCESSING FEE: PROGRAM SERVICE EXPENSES 114. MANAGEMENT AND GENERAL EXPENSES 324. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 438. CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 9,737. MANAGEMENT AND GENERAL EXPENSES 43,046. FUNDRAISING EXPENSES 33,106. TOTAL EXPENSES 85,889.