OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION

Financials

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-EZ for the year ended December 31, 2025, highest compensation first.

Address and contacts

Address (IRS master file)

200 S COLLEGE ST STE A, MORGANTON, NC 28655-3336

In care of

% BEVERLY CARLTON

Signed the 990-EZ

Beverly Carlton, President CEO

Mission

Olive Hill Community Economic Development Corporation Inc. empowers low-to-moderate-income individuals across Burke Caldwell Catawba and McDowell Counties through housing counseling financial literacy disaster recovery and small business development. We support clients in achieving homeownership avoiding foreclosure building credit and growing microenterprises. In 2025 Olive Hill CEDC served up to 500 individuals through one-on-one counseling financial workshops and post-disaster housing recovery services following Tropical Storm Helene. Our work includes culturally responsive outreach small business and nonprofit support and equity-focused programs that promote economic mobility. We also host community engagement events and partner with local institutions to expand access to essential services.

Program accomplishments

• Olive Hill CEDC advanced its homeownership mission in 2025 by conducting 10 education classes each averaging 12 participants from underserved communities across Burke Caldwell Catawba and McDowell Counties. All participants were required to complete financial literacy training as part of the program. We also provided one-on-one counseling to an average of 4 clients per month totaling 48 personalized sessions for the year. These services helped 15 participants successfully transition to homeownership. Despite being led by just two staff members our team extended its reach through recurring Homeownership Month events with Habitat for Humanity of Catawba County and outreach efforts with the Health Department Employment Security Commission Community Health Needs Assessment and the Burke County Housing Development Workgroup. With additional funding Olive Hill CEDC could expand these outcomes and serve significantly more families across the region.
  Expenses $47,452
• Foreclosure Prevention and Housing Stability: Olive Hill CEDC provided foreclosure prevention and housing stability counseling to homeowners experiencing mortgage delinquency financial hardship job loss reduced income medical challenges and other circumstances threatening their ability to remain housed. Services included individualized financial assessments household budgeting review of mortgage and delinquency information assistance communicating with mortgage servicers loss-mitigation preparation and development of written action plans. Clients received guidance on repayment plans loan modifications forbearance options available assistance programs and other alternatives to foreclosure when appropriate. OHCEDC also coordinated referrals to legal financial and community resources when additional assistance was needed. These services helped homeowners better understand their options respond to servicer requirements address delinquency and work toward preserving stabl
  Expenses $37,961
• Olive Hill CEDC supported local entrepreneurship and economic mobility by providing small business counseling strategic planning support and access to capital guidance to 18 clients in 2025. Services included one-on-one business plan development financial readiness assessments and assistance navigating startup and expansion challenges. As part of our effort to connect underserved entrepreneurs to culturally responsive lending we referred 6 clients to Mountain BizWorks Multicultural Catalyst Fund for non-traditional financing. Additionally 1 client was referred to The Industrial Commons loan program for targeted financial assistance. These referrals helped clients secure capital formalize operations and move closer to sustainable income generation. Through this work Olive Hill CEDC continues to close racial wealth gaps and expand inclusive economic opportunity for emerging business owners in western North Carolina.
  Expenses $9,490
• Form 990-EZ Part III - Homeownership & Financial Literacy Olive Hill CEDC conducted 10 homeownership education classes in 2024 each averaging 8-12 participants. All participants were required to complete financial literacy training. Additionally 48 one-on-one housing counseling sessions were provided throughout the year. These efforts resulted in 15 first-time home purchases. Despite a two-person staff Olive Hill expanded reach through Homeownership Month events with Habitat for Humanity and partnerships with agencies like the Health Department Employment Security Commission and county housing workgroups.
• Form 990-EZ Part III - Disaster Recovery In response to Tropical Storm Helene Olive Hill CEDC provided post-disaster support to over 100 residents in western North Carolina. Services included housing counseling emergency financial literacy rental support and referrals to housing repair and legal aid resources. These efforts helped stabilize vulnerable households and extended Olive Hills capacity to respond equitably and effectively to regional recovery needs.
• Form 990-EZ Part III - Small Business Development Olive Hill CEDC provided small business counseling planning support and capital access navigation to 18 clients. Six were referred to Mountain BizWorks Multicultural Catalyst Fund for nontraditional financing and one was referred to The Industrial Commons loan program. These services helped underserved entrepreneurs build capacity and move toward sustainable income generation.
• Form 990-EZ Part V Line 34 - Changes to Organizing Documents No significant changes were made to the organizations organizing documents in 2024.

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 December, so each return is due on the 15th day of the 5th month after that.

IRS record

EIN

31-1639629

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

1999

Accounting year ends

December

Files

Form 990 or 990-EZ

Category (NTEE)

Housing and shelter (L80)

Assets (IRS master file)

$16,093

Income (IRS master file)

$75,854

Filing history

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 31-1639629).

Questions about OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION

What is the EIN of OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION?

The employer identification number (EIN) of OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION is 31-1639629.

Is OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION tax-exempt?

Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1999.

Are donations to OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION tax-deductible?

Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).

Which annual return does OLIVE HILL COMMUNITY 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 OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION due?

The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.

When did OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?

The latest return in the IRS public files is the 990-EZ for the year ended December 2025.

Who are the officers and directors of OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION?

The 990-EZ for the year ended December 31, 2025 lists 6 people; 1 received compensation from the organization, the highest $44,000 (Beverly Carlton, Executive Director).

How much revenue does OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION have?

On its 990-EZ for the year ended December 31, 2025 it reported revenue of $73,324, expenses of $94,903 and total assets of $16,093 at year end.

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