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Nonprofit · EIN 56-1878125

BURLINGTON DEVELOPMENT CORPORATION

Tax-exempt · BURLINGTON, NC 27217

Financials

$152K$188K2022$3.2M$2.3M2023$4.5M$3.6M2024
Revenue Expenses · by fiscal year end
Financials of BURLINGTON DEVELOPMENT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
September 30, 2025990$4,460,729$3,587,837$872,892$32,322,174$16,974,654$15,347,520
September 30, 2024990$3,209,999$2,338,581$871,418$20,255,187$5,780,559$14,474,628
September 30, 2023990$151,732$187,650-$35,918$13,823,097$92,270$13,730,827
Financial details: 990 for the year ended September 30, 2025

Revenue

Contributions, gifts and grants
$969,037
Program service revenue
$3,401,404
Investment income
$90,288
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$454,726
Salaries, compensation and benefits (total)
$636,078
Professional fundraising fees
$0
Legal fees
$4,563
Accounting fees
$75,134
Occupancy
$186,776
Depreciation
$438,071
Program services (functional)
$3,297,045
Management and general (functional)
$290,792

Balance sheet and other

Total assets, start of year
$20,255,187
Total assets, end of year
$32,322,174
Total liabilities, end of year
$16,974,654
Net assets, end of year
$15,347,520
Land, buildings and equipment
$25,947,546
Net assets without donor restrictions
$15,347,520
Gross receipts
$4,460,729
Employees
0
Volunteers
7
Year formed
1982
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 September 30, 2025, highest compensation first.

NameTitleHours / weekCompensation
Veronica RevelsPresident
Trustee or director, Officer
2$0
Melinda FreemanVice Chair
Trustee or director, Officer
0.5$0
Charles CarterSecretary/Treasurer
Trustee or director
0.5$0
Millicent CashTrustee
Trustee or director
0.5$0
Reggie WilsonTrustee
Trustee or director
0.5$0
Michael GravesTrustee
Trustee or director
0.5$0
Patrick MillsChair
Trustee or director
0.5$0
990 for the year ended September 30, 2024: 7 people
NameTitleHours / weekCompensation
Veronica RevelsPresident
Trustee or director, Officer
2$0
Charles CarterTrustee
Trustee or director
0.5$0
Millicent CashTrustee
Trustee or director
0.5$0
Reggie WilsonTrustee
Trustee or director
0.5$0
Michael GravesTrustee
Trustee or director
0.5$0
Melinda FreemanVice President
Trustee or director, Officer
0.5$0
Patrick MillsTrustee
Trustee or director
0.5$0
990 for the year ended September 30, 2023: 7 people
NameTitleHours / weekCompensation
Veronica RevelsPresident
Trustee or director, Officer
2$0
Charles CarterTrustee
Trustee or director
0.5$0
Millicent CashTrustee
Trustee or director
0.5$0
Reggie WilsonTrustee
Trustee or director
0.5$0
Michael GravesTrustee
Trustee or director
0.5$0
Melinda FreemanVice President
Trustee or director, Officer
0.5$0
Patrick MillsTrustee
Trustee or director
0.5$0

Address and contacts

Address (IRS master file)
133 N IRELAND ST, BURLINGTON, NC 27217-2635
In care of
% ERNEST MANGUM
Principal officer (990 for 2024)
Veronica Revels, 133 N Ireland Street, Burlington, NC 27217
Signed the 990
Veronica Revels, President
Phone
(336) 226-8421
Return prepared by
Aprio Advisory Group LLC

Mission

BDC's goals and objectives are to engage in or assist in the development, financing, and/or operation of housing for low-income people and families, and to provide supportive services necessary for residents to become academically successful and economically self-sufficient. BDC strives to change the public housing culture, values, and behavior through positive incentives doe resident self-sufficiency, providing programs and services that empower residents and collaboration and partnerships throughout the community to meet that end.

990 for the year ended September 30, 2025

Program accomplishments

  • Provide scholarships and other programs and learning experiences to support continuing education for low- and very-low-income persons. Provide opportunities for low- and very-low-income families to move from assisted housing. In addition, the Burlington Housing Authority converted using HUD's Rental Assistance Demonstration (RAD) program.
    Expenses $3,297,045 · revenue $3,401,404

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

Tax yearYear endedDueIRS public records
2025September 30, 2026February 15, 2027Not due yet
2024September 30, 2025February 16, 2026990 on file
2023September 30, 2024February 17, 2025990 on file

IRS record

EIN
56-1878125
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
2000
Accounting year ends
September
Files
Form 990 or 990-EZ
Assets (IRS master file)
$32,322,174
Income (IRS master file)
$4,460,729

Filing history

FormYear endedRevenueExpensesAssetsReturn
990September 2025$4,460,729$3,587,837$32,322,174XML
990September 2024$3,209,999$2,338,581$20,255,187XML
990September 2023$151,732$187,650$13,823,097XML
990September 2022$143,413$107,902$2,066,987IRS
990September 2021–––IRS
990September 2020–––IRS
990September 2019–––IRS
990September 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 56-1878125).

Questions about BURLINGTON DEVELOPMENT CORPORATION

What is the EIN of BURLINGTON DEVELOPMENT CORPORATION?
The employer identification number (EIN) of BURLINGTON DEVELOPMENT CORPORATION is 56-1878125.
Is BURLINGTON DEVELOPMENT CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
Are donations to BURLINGTON DEVELOPMENT CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does BURLINGTON 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 BURLINGTON DEVELOPMENT CORPORATION due?
The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did BURLINGTON DEVELOPMENT CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended September 2025.
Who is the principal officer of BURLINGTON DEVELOPMENT CORPORATION?
The 990 for the year ended September 30, 2025 names Veronica Revels.
Who are the officers and directors of BURLINGTON DEVELOPMENT CORPORATION?
The 990 for the year ended September 30, 2025 lists 7 people; 0 received compensation from the organization.
How much revenue does BURLINGTON DEVELOPMENT CORPORATION have?
On its 990 for the year ended September 30, 2025 it reported revenue of $4,460,729, expenses of $3,587,837 and total assets of $32,322,174 at year end.

Other nonprofits in BURLINGTON

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