Nonprofit · EIN 56-0232990
GASTON BUSINESS ASSOCIATION INC
Tax-exempt · GASTONIA, NC 28052
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,044,273 | $1,141,599 | -$97,326 | $316,611 | $232,812 | $83,799 |
| December 31, 2023 | 990 | $781,585 | $1,043,111 | -$261,526 | $371,975 | $248,944 | $123,031 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $786,637
- of which government grants
- $200,000
- Membership dues
- $486,238
- Program service revenue
- $86,012
- Investment income
- $2,485
- Net rental income
- $3,600
- Net income from fundraising events
- $140,832
- Other revenue
- $169,139
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $572,049
- Salaries, compensation and benefits (total)
- $699,193
- Professional fundraising fees
- $0
- Accounting fees
- $11,197
- Occupancy
- $46,080
- Depreciation
- $26,315
- Program services (functional)
- $597,148
- Management and general (functional)
- $379,220
- Fundraising (functional)
- $165,231
Balance sheet and other
- Total assets, start of year
- $371,975
- Total assets, end of year
- $316,611
- Total liabilities, end of year
- $232,812
- Net assets, end of year
- $83,799
- Land, buildings and equipment
- $252,953
- Net assets without donor restrictions
- -$45,516
- Net assets with donor restrictions
- $129,315
- Gross receipts
- $1,044,273
- Employees
- 8
- Volunteers
- 65
- Year formed
- 1913
- 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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| PATRICK MUMFORD | CEO Key employee | 40 | $173,627 | $18,430 |
| ANGEL BAEZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFF BOOKER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ERIC CLAY | PAST CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| NICOLETTE DAVIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRAD DRURY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN FORGAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RUSTY HARRIS | CHAIR ELECT Trustee or director, Officer | 2 | $0 | $0 |
| MOSES NEUMAN JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBIN LANG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KERRI MASSEY | CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| MELIA MAULDIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JIM MORASSO | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| KEVIN RANDALL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JANET SYTZ | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARTHA WEGNER | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| PATRICK MUMFORD | CEO Key employee | 40 | $159,200 | $18,430 |
| ANGEL BAEZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAN BOYD | PAST CHARIMA Trustee or director, Officer | 2 | $0 | $0 |
| ERIC CLAY | CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| TERRY COX | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRAD DRURY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS ELMORE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RUSTY HARRIS | A LARGE EXEC Trustee or director, Officer | 2 | $0 | $0 |
| BETSY HUGGINS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MOSES NEUMAN JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBIN LANG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KERRI MASSEY | CHAIR ELECT Trustee or director, Officer | 2 | $0 | $0 |
| JIM MORASSO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JANET SYTZ | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| MARTHA WEGNER | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 615 W FRANKLIN BLVD, GASTONIA, NC 28052-3828
- Principal officer (990 for 2024)
- PATRICK MUMFORD, 601 WEST FRANKLIN BOULEVARD, GASTONIA, NC 28052
- Signed the 990
- PATRICK MUMFORD, CEO
- Phone
- (704) 864-2621
- Website
- WWW.GASTONBUSINESS.COM
- Return prepared by
- MCCANNON ROGERS DRISCOLL & ASSOC LLP
Mission
TO CHAMPION AN ENVIRONMENT FOR HEALTHY ECONOMIC GROWTH AND QUALITY JOB CREATION IN GASTON COUNTY BY REMAINING ACTIVE ON MANY FRONTS, INCLUDING ECONOMIC DEVELOPMENT, REGIONAL INITIATIVES, MEMBERSHIP BENEFITS AND SERVICES, QUALITY OF LIFE, AND BUSINESS ADVOCACY.
Program accomplishments
- TO PROMOTE BUSINESS, EDUCATION, AND COMMUNITY DEVELOPMENT IN GASTON COUNTYExpenses $597,148 · revenue $1,044,273
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.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-0232990
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1942
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $316,611
- Income (IRS master file)
- $1,044,273
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,044,273 | $1,141,599 | $316,611 | XML |
| 990 | December 2023 | $781,585 | $1,043,111 | $371,975 | XML |
| 990 | December 2022 | $1,072,138 | $947,261 | $614,028 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 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 56-0232990).
Questions about GASTON BUSINESS ASSOCIATION INC
- What is the EIN of GASTON BUSINESS ASSOCIATION INC?
- The employer identification number (EIN) of GASTON BUSINESS ASSOCIATION INC is 56-0232990.
- Is GASTON BUSINESS ASSOCIATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1942.
- Are donations to GASTON BUSINESS ASSOCIATION INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does GASTON BUSINESS 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 GASTON BUSINESS ASSOCIATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GASTON BUSINESS ASSOCIATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of GASTON BUSINESS ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 names PATRICK MUMFORD.
- Who are the officers and directors of GASTON BUSINESS ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 lists 16 people; 1 received compensation from the organization, the highest $173,627 (PATRICK MUMFORD, CEO).
- How much revenue does GASTON BUSINESS ASSOCIATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,044,273, expenses of $1,141,599 and total assets of $316,611 at year end.
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