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Nonprofit · EIN 20-3115014

KERR-TAR ECONOMIC DEVELOPMENT CORPORATION

Tax-exempt · HENDERSON, NC 27536

Financials

$304K$394K2023$453K$5.7M2024
Revenue Expenses · by fiscal year end
Financials of KERR-TAR ECONOMIC DEVELOPMENT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$452,517$5,700,679-$5,248,162$5,919,295$3,779,648$2,139,647
June 30, 2024990$303,547$394,497-$90,950$13,048,261$5,660,452$7,387,809
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$263,000
Membership dues
$263,000
Program service revenue
$0
Investment income
$2,679
Other revenue
$186,838

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Program services (functional)
$5,647,615
Management and general (functional)
$53,064

Balance sheet and other

Total assets, start of year
$13,048,261
Total assets, end of year
$5,919,295
Total liabilities, end of year
$3,779,648
Net assets, end of year
$2,139,647
Net assets without donor restrictions
$2,139,647
Gross receipts
$452,517
Employees
0
Volunteers
0
Year formed
2005
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.

NameTitleHours / weekCompensation
MARK SPEEDBOARD MEMBER
Trustee or director
0$0
TIM KARANVICE CHAIRMAN
Trustee or director
0$0
ABDUL RASHEEDBOARD MEMBER
Trustee or director
0$0
LESLIE SCOTTBOARD MEMBER
Trustee or director
0$0
KEITH SMITHBOARD MEMBER
Trustee or director
0$0
JOHN ALSTONBOARD MEMBER
Trustee or director
0$0
SHANE MITCHELLBOARD MEMBER
Trustee or director
0$0
JENNIFER JORDAN-PIERCEBOARD MEMBER
Trustee or director
0$0
ROBERT FLEMINGBOARD MEMBER
Trustee or director
0$0
ADAM MCCONNELLBOARD MEMBER
Trustee or director
0$0
ALI COOPERBOARD MEMBER
Trustee or director
0$0
VICTOR HUNTBOARD MEMBER
Trustee or director
0$0
DANNY WRIGHTPRESIDENT
Institutional trustee
0$0
DAN BRUMMITTCHAIRMAN
Institutional trustee
0$0
990 for the year ended June 30, 2024: 14 people
NameTitleHours / weekCompensation
MARK SPEEDBOARD MEMBER
Trustee or director
0$0
TIM KARANBOARD MEMBER
Trustee or director
0$0
ABDUL RASHEEDBOARD MEMBER
Trustee or director
0$0
LESLIE SCOTTBOARD MEMBER
Trustee or director
0$0
KEITH SMITHBOARD MEMBER
Trustee or director
0$0
JOHN ALSTONBOARD MEMBER
Trustee or director
0$0
MARSHALL TANNERBOARD MEMBER
Trustee or director
0$0
SHANE MITCHELLBOARD MEMBER
Trustee or director
0$0
JENNIFER JORDAN-PIERCEBOARD MEMBER
Trustee or director
0$0
ROBERT FLEMINGBOARD MEMBER
Trustee or director
0$0
ADAM MCCONNELLBOARD MEMBER
Trustee or director
0$0
DANNY WRIGHTPRESIDENT
Institutional trustee
0$0
WALTER POWELLTREASURER
Institutional trustee
0$0
DAN BRUMMITTCHAIRMAN
Institutional trustee
0$0

Address and contacts

Address (IRS master file)
PO BOX 709, HENDERSON, NC 27536-0709
In care of
% SAMUEL W WHITT
Principal officer (990 for 2024)
DAN BRUMMITT, 207 HOLLY DRIVE, OXFORD, NC 27565
Signed the 990
DAN BRUMMITT, CHAIRMAN
Phone
(252) 436-2040
Return prepared by
THOMPSON PRICE SCOTT ADAMS & CO

Mission

THE CORPORATION WAS FORMED FOR THE PURPOSE OF PROMOTING AND SUPPORTING ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES IN THE FOLLOWING FOUR NORTH CAROLINA COUNTIES: FRANKLIN, GRANVILLE, VANCE AND WARREN.

990 for the year ended June 30, 2025

Program accomplishments

  • TO PROMOTE AND SUPPORT ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES IN THE FOLLOWING FOUR NORTH CAROLINA COUNTIES: FRANKLIN, GRANVILLE, VANCE AND WARREN.
    Expenses $258,559 · revenue $191,000
  • INCREMENTAL TAX DISBURSEMENTS TO PROMOTE AND SUPPORT ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES IN THE FOLLOWING FOUR NORTH CAROLINA COUNTIES: FRANKLIN, GRANVILLE, VANCE AND WARREN.
    Expenses $186,026 · revenue $186,026
  • LAND TRANSFER TO POPLAR CREEK PARTNERS
    Expenses $5,203,030

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, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
20-3115014
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
2006
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$5,919,295
Income (IRS master file)
$452,517

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$452,517$5,700,679$5,919,295XML
990June 2024$303,547$394,497$13,048,261XML
990June 2023$279,831$280,300$13,264,104IRS
990June 2022$204,730$263,703$13,582,772IRS
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 20-3115014).

Questions about KERR-TAR ECONOMIC DEVELOPMENT CORPORATION

What is the EIN of KERR-TAR ECONOMIC DEVELOPMENT CORPORATION?
The employer identification number (EIN) of KERR-TAR ECONOMIC DEVELOPMENT CORPORATION is 20-3115014.
Is KERR-TAR ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2006.
Are donations to KERR-TAR ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does KERR-TAR 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 KERR-TAR 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 KERR-TAR 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 KERR-TAR ECONOMIC DEVELOPMENT CORPORATION?
The 990 for the year ended June 30, 2025 names DAN BRUMMITT.
Who are the officers and directors of KERR-TAR ECONOMIC DEVELOPMENT CORPORATION?
The 990 for the year ended June 30, 2025 lists 14 people; 0 received compensation from the organization.
How much revenue does KERR-TAR ECONOMIC DEVELOPMENT CORPORATION have?
On its 990 for the year ended June 30, 2025 it reported revenue of $452,517, expenses of $5,700,679 and total assets of $5,919,295 at year end.

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