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Nonprofit · EIN 56-1188297

LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION

Tax-exempt · LINCOLNTON, NC 28092

Financials

$830K$842K2022$939K$952K2023$921K$958K2024
Revenue Expenses · by fiscal year end
Financials of LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$921,266$957,883-$36,617$852,665$80,240$772,425
June 30, 2024990$939,016$952,189-$13,173$906,252$97,222$809,030
June 30, 2023990$829,669$842,459-$12,790$892,121$69,918$822,203
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$851,874
of which government grants
$851,874
Program service revenue
$54,500
Investment income
$2,490
Other revenue
$12,402

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$169,894
Other salaries and wages
$324,978
Salaries, compensation and benefits (total)
$654,788
Professional fundraising fees
$0
Legal fees
$1,483
Accounting fees
$8,000
Occupancy
$23,181
Travel
$10,490
Depreciation
$31,650
Program services (functional)
$804,808
Management and general (functional)
$153,075

Balance sheet and other

Total assets, start of year
$906,252
Total assets, end of year
$852,665
Total liabilities, end of year
$80,240
Net assets, end of year
$772,425
Land, buildings and equipment
$586,085
Net assets without donor restrictions
$726,781
Net assets with donor restrictions
$45,644
Gross unrelated business income
$2,490
Gross receipts
$921,266
Employees
5
Year formed
1996
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
CLIFF BRUMFIELDSECRETARY
Trustee or director, Officer
40$169,894
KELLY ATKINSDIRECTOR
Trustee or director
1$0
HENK-JAN VAN ETTEKOVENDIRECTOR
Trustee or director
1$0
ED HATLEYDIRECTOR
Trustee or director
1$0
MYRA HEAVNERTREASURER
Trustee or director, Officer
1$0
DAVID LEECHAIR
Trustee or director, Officer
1$0
JAMIE LINEBERGERDIRECTOR
Trustee or director
1$0
MARTY PARISDIRECTOR
Trustee or director
1$0
BRENT REYNOLDSDIRECTOR
Trustee or director
1$0
DR JIM WATSONVICE CHAIR
Trustee or director, Officer
1$0
990 for the year ended June 30, 2024: 10 people
NameTitleHours / weekCompensation
CLIFF BRUMFIELDSECRETARY
Trustee or director, Officer
40$159,373
KELLY ATKINSDIRECTOR
Trustee or director
1$0
BUD CESENADIRECTOR
Trustee or director
1$0
HENK-JAN VAN ETTEKOVENDIRECTOR
Trustee or director
1$0
ED HATLEYDIRECTOR
Trustee or director
1$0
MYRA HEAVNERTREASURER
Trustee or director, Officer
1$0
DAVID LEECHAIR
Trustee or director, Officer
1$0
MARTY PARISCHAIR
Trustee or director, Officer
1$0
BRENT REYNOLDSDIRECTOR
Trustee or director
1$0
DR JIM WATSONVICE CHAIR
Trustee or director
1$0
990 for the year ended June 30, 2023: 10 people
NameTitleHours / weekCompensation
CLIFF BRUMFIELDSECRETARY
Trustee or director, Officer
40$150,683
KELLY ATKINSDIRECTOR
Trustee or director
1$0
BUD CESENADIRECTOR
Trustee or director
1$0
HENK-JAN VAN ETTEKOVENDIRECTOR
Trustee or director
1$0
ED HATLEYDIRECTOR
Trustee or director
1$0
MYRA HEAVNERTREASURER
Trustee or director, Officer
1$0
DAVID LEEVICE CHAIR
Trustee or director, Officer
1$0
KIM PHILLIPSCHAIR
Trustee or director, Officer
1$0
BRENT REYNOLDSDIRECTOR
Trustee or director
1$0
DR JIM WATSONDIRECTOR
Trustee or director
1$0

Address and contacts

Address (IRS master file)
502 E MAIN ST, LINCOLNTON, NC 28092-3410
Principal officer (990 for 2024)
CLIFF BRUMFIELD, 502 EAST MAIN ST, LINCOLNTON, NC 28092
Signed the 990
CLIFF BRUMFIELD, SECRETARY
Phone
(704) 732-1511
Return prepared by
HUGGINS & COMPANY CPA PA

Mission

TO FOSTER AN ECONOMIC ENVIRONMENT THAT PROMOTES AN ENHANCEMENT OF THE STANDARD OF LIVING BY CREATING MORE AND BETTER JOBS FOR THE CITIZENS OF LINCOLNTON AND LINCOLN COUNTY AND AN INCREASED AND DIVERSIFIED TAX BASE TO PROIVDE NEEDED COMMUNITY SERVICES.

990 for the year ended June 30, 2025

Program accomplishments

  • DEVELOP AND MARKET ECONOMIC GROWTH AND STABILITY OF LINCOLN COUNTY BY MAKING DEVELOPERS AND EXPANDING INDUSTRIES AWARE OF THE ASSETS OF THE AREA THROUGH VARIOUS MEDIA SOURCES AND PERSONAL CONTACT.
    Expenses $804,808

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
56-1188297
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
1996
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$852,665
Income (IRS master file)
$921,266

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$921,266$957,883$852,665XML
990-TJune 2025–––IRS
990June 2024$939,016$952,189$906,252XML
990-TJune 2024–––IRS
990June 2023$829,669$842,459$892,121XML
990June 2022–––IRS
990June 2021–––IRS
990June 2020–––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 56-1188297).

Questions about LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION

What is the EIN of LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION?
The employer identification number (EIN) of LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION is 56-1188297.
Is LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1996.
Are donations to LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION 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 LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION 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 LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION 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 LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION?
The 990 for the year ended June 30, 2025 names CLIFF BRUMFIELD.
Who are the officers and directors of LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION?
The 990 for the year ended June 30, 2025 lists 10 people; 1 received compensation from the organization, the highest $169,894 (CLIFF BRUMFIELD, SECRETARY).
How much revenue does LINCOLN ECONOMIC DEVELOPMENT ASSOCIATION have?
On its 990 for the year ended June 30, 2025 it reported revenue of $921,266, expenses of $957,883 and total assets of $852,665 at year end.

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