Nonprofit · EIN 11-3843016
MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · MARTINSVILLE, VA 24112
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | -$2,575,361 | $2,397,520 | -$4,972,881 | $1,593,640 | $968,752 | $624,888 |
| June 30, 2024 | 990 | $1,957,676 | $2,145,786 | -$188,110 | $6,423,914 | $1,008,645 | $5,415,269 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $2,217,488
- of which government grants
- $600,000
- Program service revenue
- $12,000
- Investment income
- -$4,901,280
- Net gain from sales of assets
- -$4,962,935
- Other revenue
- $96,431
Expenses
- Grants and similar amounts paid
- $378,000
- Compensation of officers, directors and key employees
- $368,464
- Other salaries and wages
- $423,878
- Salaries, compensation and benefits (total)
- $1,023,345
- Professional fundraising fees
- $0
- Accounting fees
- $45,600
- Occupancy
- $82,474
- Travel
- $25,735
- Depreciation
- $71,191
- Program services (functional)
- $2,175,930
- Management and general (functional)
- $150,058
- Fundraising (functional)
- $71,532
Balance sheet and other
- Total assets, start of year
- $6,423,914
- Total assets, end of year
- $1,593,640
- Total liabilities, end of year
- $968,752
- Net assets, end of year
- $624,888
- Land, buildings and equipment
- $184,788
- Net assets without donor restrictions
- $624,888
- Gross receipts
- $2,399,574
- Employees
- 0
- Year formed
- 2008
- State of legal domicile
- VA
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 |
|---|---|---|---|---|
| MARK HEATH | President & CEO Officer | 40 | $314,295 | $54,169 |
| RHONDA HODGES | Director Trustee or director | 2 | $0 | $0 |
| ARETHA FERRELL-BENAVIDES | Director Trustee or director | 2 | $0 | $0 |
| GRACIE AGNEW | Secretary Trustee or director, Officer | 2 | $0 | $0 |
| DAVID STONE | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| AMY LAMPE | Treasurer Trustee or director, Officer | 2 | $0 | $0 |
| JAMES McCLAIN | Chairman Trustee or director, Officer | 2 | $0 | $0 |
| DALE WAGONER | Director Trustee or director | 2 | $0 | $0 |
| REV CHARLES WHITFIELD | Director Trustee or director | 2 | $0 | $0 |
990 for the year ended June 30, 2024: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARK HEATH | President & CEO Officer | 40 | $268,654 | $52,375 |
| RHONDA HODGES | Director Trustee or director | 2 | $0 | $0 |
| ARETHA FERRELL-BENAVIDES | Director Trustee or director | 2 | $0 | $0 |
| GRACIE AGNEW | Secretary Trustee or director, Officer | 2 | $0 | $0 |
| DAVID STONE | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| AMY LAMPE | Treasurer Trustee or director, Officer | 2 | $0 | $0 |
| JAMES McCLAIN | Chairman Trustee or director, Officer | 2 | $0 | $0 |
| DALE WAGONER | Director Trustee or director | 2 | $0 | $0 |
| REV CHARLES WHITFIELD | Director Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 191 FAYETTE ST THIRD FLOOR, MARTINSVILLE, VA 24112-2619
- Principal officer (990 for 2024)
- MARK HEATH, 191 FAYETTE ST THIRD FLOOR, MARTINSVILLE, VA 24112
- Signed the 990
- MARK HEATH, President
- Phone
- (276) 403-5940
- Website
- www.yesmartinsville.com
- Return prepared by
- FOTI FLYNN LOWEN & CO PC
Mission
TO EXPAND THE TAX BASE AND PROVIDE JOBS FOR THE MARTINSVILLE/HENRY COUNTY BY ENCOURAGING EXPANSION OF LOCAL BUSINESSES AND INDUSTRIES AND BY RECRUITING NEW BUSINESSES TO LOCATE.
Program accomplishments
- THE CORPORATION'S SOLE PURPOSE IS TO EXPAND TAX BASE AND PROVIDE JOBS BY ENCOURAGING EXPANSION OF LOCAL BUSINESSES AND INDUSTRIES AND BY RECRUITING NEW BUSINESES TO LOCATE IN MARTINSVILLE/HENRY COUNTY.Expenses $2,175,930 · revenue -$4,854,504
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
- 11-3843016
- 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
- 2008
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $1,593,640
- Income (IRS master file)
- $2,399,574
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | -$2,575,361 | $2,397,520 | $1,593,640 | XML |
| 990 | June 2024 | $1,957,676 | $2,145,786 | $6,423,914 | XML |
| 990 | June 2023 | $1,915,977 | $2,165,563 | $5,994,808 | IRS |
| 990 | June 2022 | $2,331,961 | $2,543,940 | $5,581,528 | IRS |
| 990 | June 2021 | $3,066,760 | $3,196,054 | $6,979,147 | IRS |
| 990 | June 2018 | – | – | – | IRS |
| 990-EZ | June 2018 | – | – | – | IRS |
| 990-PF | 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 11-3843016).
Questions about MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT CORPORATION is 11-3843016.
- Is MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2008.
- Are donations to MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT 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 MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT 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 MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT 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 MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names MARK HEATH.
- Who are the officers and directors of MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 9 people; 1 received compensation from the organization, the highest $314,295 (MARK HEATH, President & CEO).
- How much revenue does MARTINSVILL-HENRY COUNTY ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of -$2,575,361, expenses of $2,397,520 and total assets of $1,593,640 at year end.
Other nonprofits in MARTINSVILLE
- WEST PIEDMONT WORKFORCE INVESTMENT BOARD EIN 45-0485009 · last filed 990 for 2025
- MARTINSVILLE-HENRY COUNTY CHAMBER OF COMMERCE INC EIN 54-0675121 · last filed 990 for 2025
- MARTINSVILLE-HENRY COUNTY CHAMBERS PARTNERSHIP FOR ECONOMIC GROWTH EIN 54-1627126 · last filed 990 for 2025
- UPTOWN PARTNERSHIP EIN 84-4706780 · last filed 990 for 2024
- THE CHARITY LEAGUE OF MARTINSVILLE & HENRY COUNTY VIRGINIA INC EIN 51-0246455 · last filed 990-EZ for 2025
- COMMUNITY DEVELOPMENT CORPORATION OF MARTINSVILLE-HENRY COUNTY EIN 47-2391908 · last filed 990-EZ for 2025
- MHC MINORITY BUSINESS CONSORTIUM EIN 88-1319148 · last filed 990-N for 2024
- CONCERNED CITIZENS OF SANDY LEVEL INC EIN 54-1702228 · last filed 990-N for 2022
All nonprofits in MARTINSVILLE · Virginia · Community improvement and capacity building