Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 56-1346748

MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC

Tax-exempt · MARION, NC 28752

Financials

$228K$181K2022
Revenue Expenses · by fiscal year end
Financials of MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2023990$227,897$181,319$46,578$86,104$3,658$82,446
Financial details: 990 for the year ended June 30, 2023

Revenue

Contributions, gifts and grants
$227,886
of which government grants
$224,326
Membership dues
$3,560
Program service revenue
$0
Investment income
$11
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$113,260
Salaries, compensation and benefits (total)
$121,924
Professional fundraising fees
$0
Accounting fees
$44,192
Occupancy
$1,900
Travel
$1,516
Depreciation
$800
Program services (functional)
$144,177
Management and general (functional)
$37,142

Balance sheet and other

Total assets, start of year
$39,372
Total assets, end of year
$86,104
Total liabilities, end of year
$3,658
Net assets, end of year
$82,446
Land, buildings and equipment
$4,133
Net assets without donor restrictions
$82,446
Gross receipts
$227,897
Employees
2
Year formed
1982
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, 2023, highest compensation first.

NameTitleHours / weekCompensation
DAVID WOOTENCHAIRPERSON
Officer
5$0
ANDREW TYESECRETARY TREASURER
Officer
5$0
CHARLES ABERNATHYEXECUTIVE DIRECTOR
Officer
40$0
DENNIS WHITSONVICE CHAIRPERSON
Officer
5$0

Address and contacts

Address (IRS master file)
PO BOX 1289, MARION, NC 28752-1289
In care of
% CHARLES ABERNATHY
Signed the 990
DAVID WOOTEN, CHAIRPERSON
Return prepared by
Alfred M Shiver PA

Mission

SEE SCHEDULE O

990 for the year ended June 30, 2023

Program accomplishments

  • TO IMPROVE THE ECONOMIC CONDITIONS FOR THE PEOPLE OF MCDOWELL COUNTY THROUGH THE RECRUITMENT OF NEW BUSINESSES AND THE EXPANSION OF EXISTING BUSINESSESS IN THE COUNTY
    Expenses $144,177 · revenue $227,897

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025Not on file
2023June 30, 2024November 15, 2024Not on file

IRS record

EIN
56-1346748
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1983
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$86,104
Income (IRS master file)
$227,897

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2023$227,897$181,319$86,104XML
990June 2022–––IRS
990June 2021–––IRS
990June 2019–––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 56-1346748).

Questions about MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC

What is the EIN of MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC?
The employer identification number (EIN) of MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC is 56-1346748.
Is MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1983.
Are donations to MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION 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 MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2023.
Who are the officers and directors of MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC?
The 990 for the year ended June 30, 2023 lists 4 people; 0 received compensation from the organization.
How much revenue does MCDOWELL ECONOMIC DEVELOPMENT ASSOCIATION INC have?
On its 990 for the year ended June 30, 2023 it reported revenue of $227,897, expenses of $181,319 and total assets of $86,104 at year end.

Other nonprofits in MARION

All nonprofits in MARION · North Carolina · Community improvement and capacity building