Nonprofit · EIN 56-1753874
FIRST CONCORD CORPORATION
Tax-exempt · CONCORD, NC 28025
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $3,843,762 | $2,698,890 | $1,144,872 | $29,353,594 | $28,791,863 | $561,731 |
| June 30, 2024 | 990 | $2,302,031 | $2,091,231 | $210,800 | $18,592,909 | $19,176,050 | -$583,141 |
| June 30, 2023 | 990 | $2,350,625 | $2,012,262 | $338,363 | $19,400,017 | $20,193,958 | -$793,941 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $3,359,560
- of which government grants
- $3,359,560
- Program service revenue
- $0
- Investment income
- $484,202
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Depreciation
- $1,152,457
- Program services (functional)
- $2,698,890
Balance sheet and other
- Total assets, start of year
- $18,592,909
- Total assets, end of year
- $29,353,594
- Total liabilities, end of year
- $28,791,863
- Net assets, end of year
- $561,731
- Land, buildings and equipment
- $16,737,715
- Net assets without donor restrictions
- $561,731
- Gross receipts
- $3,843,762
- Employees
- 0
- Volunteers
- 4
- Year formed
- 1991
- 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 | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| LLOYD W PAYNE JR | SECRETARY - TREASURER Trustee or director, Officer | 1 | $0 | $330,889 | $94,950 |
| JESSICA JONES | ASSISTANT SECRETARY Trustee or director, Officer | 1 | $0 | $168,818 | $57,483 |
| WAYNE KING | PRESIDENT & CHAIRMAN OF TH Trustee or director, Officer | 1 | $0 | $0 | $0 |
| IRVIN T NEWBERRY | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 4 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| LLOYD W PAYNE JR | SECRETARY - TREASURER Trustee or director, Officer | 1 | $0 | $296,820 | $84,059 |
| JESSICA JONES | ASSISTANT SECRETARY Trustee or director, Officer | 1 | $0 | $143,163 | $48,775 |
| WAYNE KING | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| IRVIN T NEWBERRY | PRESIDENT & CHAIRMAN OF TH Trustee or director, Officer | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 4 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| LLOYD W PAYNE JR | SECRETARY - TREASURER Trustee or director, Officer | 1 | $0 | $269,716 | $73,496 |
| JESSICA JONES | ASSISTANT SECRETARY Trustee or director, Officer | 1 | $0 | $122,382 | $41,507 |
| WAYNE KING | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| IRVIN T NEWBERRY | PRESIDENT & CHAIRMAN OF TH Trustee or director, Officer | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 35 CABARRUS AVE W, CONCORD, NC 28025-4751
- In care of
- % LEONARD B SOSSAMON
- Principal officer (990 for 2024)
- JESSICA JONES, 35 CABARRUS AVE W, CONCORD, NC 28025
- Signed the 990
- JESSICA JONES, ASSISTANT SECRETARY
- Phone
- (704) 920-5218
- Website
- WWW.CONCORDNC.GOV
- Return prepared by
- MARTIN STARNES & ASSOCIATES CPAS PA
Mission
THE CORPORATION ASSISTS THE CITY OF CONCORD IN CARRYING OUT ITS GOVERNMENTAL FUNCTIONS THROUGH ACQUISITION, CONSTRUCTION, OPERATION AND SALE OR LEASE OF REAL ESTATE, IMPROVEMENTS, FACILITIES AND EQUIPMENT FOR THE USE AND BENEFIT OF THE GENERAL PUBLIC
Program accomplishments
- SEE ADDITIONAL DATAExpenses $2,698,890
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 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
- 56-1753874
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1993
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W200)
- Assets (IRS master file)
- $29,353,594
- Income (IRS master file)
- $3,843,762
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $3,843,762 | $2,698,890 | $29,353,594 | XML |
| 990 | June 2024 | $2,302,031 | $2,091,231 | $18,592,909 | XML |
| 990 | June 2023 | $2,350,625 | $2,012,262 | $19,400,017 | XML |
| 990 | June 2022 | $2,358,784 | $30,333,327 | $20,714,821 | IRS |
| 990 | June 2021 | – | – | – | 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 56-1753874).
Questions about FIRST CONCORD CORPORATION
- What is the EIN of FIRST CONCORD CORPORATION?
- The employer identification number (EIN) of FIRST CONCORD CORPORATION is 56-1753874.
- Is FIRST CONCORD CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
- Are donations to FIRST CONCORD CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does FIRST CONCORD CORPORATION 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 FIRST CONCORD CORPORATION 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 FIRST CONCORD CORPORATION 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 FIRST CONCORD CORPORATION?
- The 990 for the year ended June 30, 2025 names JESSICA JONES.
- Who are the officers and directors of FIRST CONCORD CORPORATION?
- The 990 for the year ended June 30, 2025 lists 4 people; 0 received compensation from the organization.
- How much revenue does FIRST CONCORD CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $3,843,762, expenses of $2,698,890 and total assets of $29,353,594 at year end.
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All nonprofits in CONCORD · North Carolina · Public and societal benefit