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Nonprofit · EIN 56-1072965

UDI-COMMUNITY DEVELOPMENT CORPORATION

Tax-exempt · DURHAM, NC 27713

Financials

$958K$1.1M2023$1M$1.2M2024
Revenue Expenses · by fiscal year end
Financials of UDI-COMMUNITY DEVELOPMENT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$1,025,494$1,168,888-$143,394$8,905,381$2,029,226$6,876,155
December 31, 2023990$957,820$1,085,290-$127,470$9,167,184$2,147,635$7,019,549
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$966,993
Investment income
$58,501
Net gain from sales of assets
$38,594
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$101,243
Other salaries and wages
$45,132
Salaries, compensation and benefits (total)
$184,445
Professional fundraising fees
$0
Accounting fees
$69,672
Occupancy
$55,962
Travel
$431
Depreciation
$398,556
Program services (functional)
$662,724
Management and general (functional)
$506,164

Balance sheet and other

Total assets, start of year
$9,167,184
Total assets, end of year
$8,905,381
Total liabilities, end of year
$2,029,226
Net assets, end of year
$6,876,155
Land, buildings and equipment
$7,124,438
Net assets without donor restrictions
$6,320,920
Net assets with donor restrictions
$555,235
Gross receipts
$1,025,494
Employees
2
Year formed
1974
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.

NameTitleHours / weekCompensation
William V BellPresident CEO
Key employee
40$101,243
Albernard BassChairman
Trustee or director, Officer
2$0
Michael PalmerVice Chairman
Trustee or director, Officer
1$0
Walter Don HarringtonTreasurer
Trustee or director, Officer
1$0
Mayme Webb-BledsoeSecretary
Trustee or director, Officer
0.5$0
Wendell DavisDirector
Trustee or director
0.5$0
Larry Yon IIDirector
Trustee or director
0.5$0
Melvin DavisDirector
Trustee or director
0.5$0
Jonathan PetersonDirector
Trustee or director
0.5$0
990 for the year ended December 31, 2023: 8 people
NameTitleHours / weekCompensation
Albernard BassChairman
Trustee or director, Officer
2$0
Michael PalmerVice Chairman
Trustee or director, Officer
1$0
Walter Don HarringtonTreasurer
Trustee or director, Officer
1$0
Mayme Webb-BledsoeSecretary
Trustee or director, Officer
0.5$0
Wendell DavisDirector
Trustee or director
0.5$0
Larry Yon IIDirector
Trustee or director
0.5$0
Melvin DavisDirector
Trustee or director
0.5$0
Jonathan PetersonDirector
Trustee or director
0.5$0

Address and contacts

Address (IRS master file)
631 UNITED DR STE 100, DURHAM, NC 27713-1660
Principal officer (990 for 2024)
William V Bell, 631 United Drive STE 100, Durham, NC 27713
Signed the 990
William V Bell, President CEO
Phone
(919) 544-4597
Return prepared by
Dewanda S Dalrymple CPA

Mission

Encourage and facilitate economic and community development in Durham, NC. To raise the economic welfare of low-income and underprivileged residents of Durham, NC. Maintain industrial park facilities.

990 for the year ended December 31, 2024

Program accomplishments

  • To empower historically disadvantaged and low asset community-based entrepreneurs by expanding their business techniques knowledge base, facilitating cooperative partnerships, and cultivating job creation and retention in Durham County, NC. From its base of operations in its self-developed 91 acre business and industrial park, programs include the Gateway Project-renovation and operation of mixed-use facilities for retail, business incubation, offices, and residential accomodations in Downtown Durham ownership and maintenance of a Shopping Center in the Fayetteville Street corridor, and administration of a Revolving Loan Fund.
    Expenses $662,724

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
56-1072965
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
1974
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$8,905,381
Income (IRS master file)
$1,025,494

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$1,025,494$1,168,888$8,905,381IRS
990December 2023$957,820$1,085,290$9,167,184IRS
990December 2022$1,121,579$1,166,628$9,344,908IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 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 56-1072965).

Questions about UDI-COMMUNITY DEVELOPMENT CORPORATION

What is the EIN of UDI-COMMUNITY DEVELOPMENT CORPORATION?
The employer identification number (EIN) of UDI-COMMUNITY DEVELOPMENT CORPORATION is 56-1072965.
Is UDI-COMMUNITY DEVELOPMENT CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1974.
Are donations to UDI-COMMUNITY DEVELOPMENT CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does UDI-COMMUNITY 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 UDI-COMMUNITY DEVELOPMENT CORPORATION 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 UDI-COMMUNITY DEVELOPMENT CORPORATION 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 UDI-COMMUNITY DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2024 names William V Bell.
Who are the officers and directors of UDI-COMMUNITY DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2024 lists 9 people; 1 received compensation from the organization, the highest $101,243 (William V Bell, President CEO).
How much revenue does UDI-COMMUNITY DEVELOPMENT CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $1,025,494, expenses of $1,168,888 and total assets of $8,905,381 at year end.

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