Nonprofit · EIN 46-4840814
ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC
Tax-exempt · RALEIGH, NC 27601
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $52,335,240 | $51,477,973 | $857,267 | $130,673,830 | $121,439,408 | $9,234,422 |
| June 30, 2024 | 990 | $42,149,721 | $40,730,902 | $1,418,819 | $38,670,385 | $30,293,230 | $8,377,155 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $2,642,875
- of which government grants
- $1,135,675
- Program service revenue
- $48,248,526
- Investment income
- $1,443,839
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $721,713
- Other salaries and wages
- $6,970,496
- Salaries, compensation and benefits (total)
- $9,447,465
- Professional fundraising fees
- $0
- Legal fees
- $101,651
- Accounting fees
- $61,155
- Occupancy
- $926,849
- Travel
- $714,641
- Depreciation
- $131,779
- Program services (functional)
- $48,543,133
- Management and general (functional)
- $2,589,291
- Fundraising (functional)
- $345,549
Balance sheet and other
- Total assets, start of year
- $38,670,385
- Total assets, end of year
- $130,673,830
- Total liabilities, end of year
- $121,439,408
- Net assets, end of year
- $9,234,422
- Land, buildings and equipment
- $792,051
- Net assets without donor restrictions
- $9,234,422
- Gross receipts
- $52,335,240
- Employees
- 80
- Volunteers
- 18
- Year formed
- 2013
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CHRISTOPHER CHUNG | CEO Officer | 40 | $391,760 | $64,272 |
| MICHAEL EBERT | COO Officer | 40 | $213,991 | $16,775 |
| DENISE DESATNICK | VP MARKETING Highest-paid employee | 40 | $179,332 | $17,951 |
| WILLIAM TUTTELL | VP TOURISM Highest-paid employee | 40 | $174,850 | $21,531 |
| MELISSA SMITH | SR. VP BUSINESS RECRUITMENT Highest-paid employee | 40 | $179,736 | $15,481 |
| LARRY PRICE | DIRECTOR FINANCE Highest-paid employee | 40 | $147,982 | $20,792 |
| ANDERS VICTOR | DIRECTOR BUS. DEVELOPMENT Highest-paid employee | 40 | $131,261 | $13,381 |
| GENE MCLAURIN | DIRECTOR & CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| JOHN KANE | DIRECTOR & SECRETARY/TREAS Trustee or director, Officer | 1 | $0 | $0 |
| PAM CUNDIFF | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AARON THOMAS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SPENCE BROADHURST | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WILLIAM MORGAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHELLE LOGAN | DIRECTOR (THRU NOV 2024) Trustee or director | 1 | $0 | $0 |
| JAMES R JORDAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
13 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SHEILA KNIGHT | DIRECTOR Trustee or director | 1 | $0 |
| VIMAL KOLAPPA | DIRECTOR Trustee or director | 1 | $0 |
| KAREN LEVERT | DIRECTOR Trustee or director | 1 | $0 |
| RICHARD C REICH PHD | DIRECTOR Trustee or director | 1 | $0 |
| LEE NETTLES | DIRECTOR (THRU NOV 2024) Trustee or director | 1 | $0 |
| ROLF BLIZZARD | DIRECTOR Trustee or director | 1 | $0 |
| LEE LILLEY | DIRECTOR Trustee or director | 1 | $0 |
| SAM BOWLES | DIRECTOR Trustee or director | 1 | $0 |
| KEITH HOLTSCLAW | DIRECTOR Trustee or director | 1 | $0 |
| BHASKAR VENEPALLI | DIRECTOR Trustee or director | 1 | $0 |
| SHAYLAH NUNN JONES | DIRECTOR Trustee or director | 1 | $0 |
| ANDREW SCHMIDT | DIRECTOR Trustee or director | 1 | $0 |
| MACHELLE SANDERS | DIRECTOR (THRU NOV 2024) Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CHRISTOPHER CHUNG | CEO Officer | 40 | $400,926 | $62,103 |
| MICHAEL EBERT | COO Officer | 40 | $199,795 | $16,274 |
| MELISSA SMITH | VP BUSINESS RECRUITMENT Highest-paid employee | 40 | $184,002 | $13,798 |
| DENISE DESATNICK | VP MARKETING Highest-paid employee | 40 | $162,955 | $15,130 |
| WILLIAM TUTTELL | VP TOURISM Highest-paid employee | 40 | $156,340 | $19,322 |
| KOREY HOWARD | DIRECTOR BUSINESS RECRUITMNT Highest-paid employee | 40 | $149,201 | $16,853 |
| LARRY PRICE | DIRECTOR FINANCE Highest-paid employee | 40 | $143,060 | $19,754 |
| GENE MCLAURIN | DIRECTOR & CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| JOHN KANE | DIRECTOR & SECRETARY/TREAS Trustee or director, Officer | 1 | $0 | $0 |
| ROLF BLIZZARD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SAM BOWLES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SPENCE BROADHURST | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAM CUNDIFF | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEITH HOLTSCLAW | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JAMES R JORDAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHEILA KNIGHT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| VIMAL KOLAPPA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KAREN LEVERT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHELLE LOGAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WILLIAM MORGAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LEE NETTLES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD C REICH PHD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MACHELLE SANDERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AARON THOMAS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BHASKAR VENEPALLI | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 150 FAYETTEVILLE ST STE 1200, RALEIGH, NC 27601-2956
- In care of
- % JENNIFER HARKNESS
- Principal officer (990 for 2024)
- CHRISTOPHER CHUNG, 150 FAYETTEVILLE STREET 1200, RALEIGH, NC 27601
- Signed the 990
- CHRISTOPHER CHUNG, CEO
- Phone
- (919) 447-7777
- Website
- WWW.EDPNC.COM
- Return prepared by
- CHERRY BEKAERT ADVISORY LLC
Mission
OUR MISSION IS TO IMPROVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE FOR ALL NORTH CAROLINIANS. WE DO THIS BY COLLABORATING WITH STATE, REGIONAL, LOCAL, AND PRIVATE-SECTOR PARTNERS IN NEW BUSINESS RECRUITMENT, EXISTING EMPLOYER SUPPORT, INTERNATIONAL TRADE AND EXPORT ASSISTANCE, SMALL BUSINESS START-UP COUNSELING, AND TOURISM PROMOTION.
Program accomplishments
- EDPNC'S VISIT NC TEAM RESPONDED IMMEDIATELY TO HURRICANE HELENE'S DESTRUCTION THROUGH EXTENSIVE PARTNER COMMUNICATIONS, PROACTIVE MEDIA RELATIONS, ITS WELL-PUBLICIZED INTERACTIVE TRAVEL ADVISORY MAP, AND MORE. THE TEAM'S FOCUS QUICKLY SHIFTED TO SUPPORTING THE MOUNTAIN DESTINATIONS LESS AFFECTED AND ABLE TO WELCOME VISITORS DURING THE VITAL FALL, HOLIDAY/WINTER, AND SPRING SEASONS. AS SEASONS PROGRESSED INTO SPRING AND SUMMER, EFFORTS EVOLVED TO EMPHASIZE TRAVEL INSPIRATION. VISIT NC HAS CONTINUED TO LEVERAGE THE ADDITIONAL, INCREMENTAL RECOVERY FUNDS WITH THE SAME SENSE OF URGENCY AND COMMITMENT. WITH A ROBUST SUMMER CAMPAIGN IN MOTION, EMPHASIS REMAINS ON STRENGTHENING AND EXTENDING THE CAMPAIGN'S REACH AND EFFECTIVENESS THROUGH SUMMER, FALL, AND WINTER 2025 TO INSPIRE TRAVEL AND HELP REVITALIZE WESTERN NORTH CAROLINA'S VITAL TOURISM ECONOMY.DESPITE SIGNIFICANT HEADWINDS BROUGHT ON BY HURRICANE HELENE, TOURISM IN NORTH CAROLINA CONTINUED TO BREAK RECORDS IN 2024, WITH TRAVEL SPENDING STATEWIDE RISING TO $36.7 BILLION. THAT TOTAL ECLIPSED THE PREVIOUS RECORD OF $35.6 BILLION SET IN 2023. DIRECT TOURISM EMPLOYMENT ALSO INCREASED STATEWIDE BY 1.4% TO 230,338 IN 2024.Expenses $26,521,387 · revenue $541,933
- THE EDPNC OFFERS ANOTHER SPECIALIZED SERVICE TO NORTH CAROLINA COMPANIES: ASSISTING THEM TO ENTER FOREIGN MARKETS AND EXPAND THEIR INTERNATIONAL SALES. IN FISCAL YEAR 2025, THE EDPNC'S INTERNATIONAL TRADE MANAGERS AND FOREIGN OFFICES PROVIDED EXPORT ASSISTANCE TO 463 COMPANIES ACROSS ALL EIGHT MULTICOUNTY 'PROSPERITY ZONES.' THE ASSISTANCE INCLUDED PROVIDING MARKET INTELLIGENCE AND STRATEGIES, PRODUCT ANALYSIS, DISTRIBUTOR SEARCHES, LOCALIZATION OF WEBSITES AND MARKETING MATERIALS, AND SUPPORT AT TRADE SHOWS AND TRADE MISSIONS. DURING FISCAL YEAR 2025, THE INTERNATIONAL TRADE TEAM DEVELOPED A NEW TRADE ACCELERATOR PROGRAM EXPECTED TO LAUNCH IN LATE 2025 THAT WILL GUIDE A COHORT OF NORTH CAROLINA COMPANIES THROUGH AN INTENSIVE CURRICULUM AND CULMINATE IN AN INTERNATIONAL TRADE MISSION.Expenses $2,440,430 · revenue $24,975
- EDPNC AND PARTNERS SUCCESSFULLY COMPETED FOR 128 BUSINESS RECRUITMENT AND EXPANSION PROJECTS RESULTING IN THE ANNOUNCEMENT OF 29,983 NEW JOBS IN NORTH CAROLINA AND $25.3 BILLION IN INVESTMENT, BOTH MARKS DOUBLING THE PREVIOUS YEAR'S TALLIES. THE YEAR WAS HEADLINED BY JETZERO'S PLANS FOR A NEW COMMERCIAL AIRPLANE MANUFACTURING FACILITY AT PIEDMONT TRIAD INTERNATIONAL AIRPORT. THE COMMITMENT TO CREATE 14,564 JOBS IS THE LARGEST JOBS ANNOUNCEMENT IN STATE HISTORY. ALSO ANNOUNCED WERE JABIL'S 2,004-JOB, $264 MILLION MANUFACTURING FACILITY IN ROWAN COUNTY; AMAZON WEB SERVICES' 500-JOB, $10 BILLION INVESTMENT IN RICHMOND COUNTY; PRATT & WHITNEY'S 325-JOB, $285 MILLION COMMITMENT TO BUNCOMBE COUNTY; AND A FLURRY OF LIFE SCIENCES AND BIOTECHNOLOGY ANNOUNCEMENTS INCLUDING, AMONG OTHERS, AMGEN AND GENENTECH IN WAKE COUNTY AND JOHNSON & JOHNSON AND IDEXX LABORATORIES IN WILSON COUNTY.Expenses $3,189,842
- EXISTING INDUSTRY, SMALL BUSINESS SUPPORT; BUSINESS DEVELOPMENT, AND BUSINESS RESEARCH AND MARKETING.Expenses $16,391,474 · revenue $47,681,618
What it must file and when
IRS records say it files Not required (state instrumentality). Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 46-4840814
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2014
- Accounting year ends
- June
- Files
- Not required (state instrumentality)
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $130,673,830
- Income (IRS master file)
- $52,335,240
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $52,335,240 | $51,477,973 | $130,673,830 | XML |
| 990 | June 2024 | $42,149,721 | $40,730,902 | $38,670,385 | XML |
| 990 | June 2023 | $52,521,206 | $51,278,426 | $25,065,283 | IRS |
| 990 | June 2022 | $25,900,688 | $25,058,045 | $8,246,221 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-4840814).
Questions about ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC
- What is the EIN of ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC?
- The employer identification number (EIN) of ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC is 46-4840814.
- Is ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
- Are donations to ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC file?
- Form Not required (state instrumentality).
- When is the next return of ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC?
- The 990 for the year ended June 30, 2025 names CHRISTOPHER CHUNG.
- Who are the officers and directors of ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC?
- The 990 for the year ended June 30, 2025 lists 28 people; 7 received compensation from the organization, the highest $391,760 (CHRISTOPHER CHUNG, CEO).
- How much revenue does ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $52,335,240, expenses of $51,477,973 and total assets of $130,673,830 at year end.
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