Nonprofit · EIN 56-2048401
CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · PITTSBORO, NC 27312
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $609,331 | $702,599 | -$93,268 | $1,207,639 | $63,839 | $1,143,800 |
| June 30, 2024 | 990 | $532,388 | $648,220 | -$115,832 | $1,253,122 | $21,036 | $1,232,086 |
| June 30, 2023 | 990 | $519,154 | $534,387 | -$15,233 | $1,378,829 | $35,554 | $1,343,275 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $585,070
- of which government grants
- $506,516
- Program service revenue
- $0
- Investment income
- $23,027
- Net gain from sales of assets
- $4,333
- Other revenue
- $1,234
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $182,435
- Other salaries and wages
- $172,632
- Salaries, compensation and benefits (total)
- $440,796
- Professional fundraising fees
- $0
- Accounting fees
- $47,320
- Occupancy
- $44,832
- Travel
- $16,961
- Depreciation
- $1,284
- Program services (functional)
- $465,580
- Management and general (functional)
- $237,019
Balance sheet and other
- Total assets, start of year
- $1,253,122
- Total assets, end of year
- $1,207,639
- Total liabilities, end of year
- $63,839
- Net assets, end of year
- $1,143,800
- Land, buildings and equipment
- $2,536
- Net assets without donor restrictions
- $1,143,800
- Gross receipts
- $614,971
- Employees
- 5
- Volunteers
- 12
- Year formed
- 1997
- 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.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| C MICHAEL SMITH | PRESIDENT Officer | 40 | $153,000 | $25,727 |
| CHREATHA ALSTON | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| SALLY ROMERO-TORRES | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| SHANNON BECKER | SECRETARY/TR Trustee or director, Officer | 0.5 | $0 | $0 |
| DEBBIE ANDLETON | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ANTONIO MCBROOM | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| JENNIFER PLATT | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| STEPHANIE TERRY | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JUSTIN KING-GAINES | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| DAVID MCGREGOR | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ALLISON BOLIN | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JERRY HUDSON | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| TRAVIS KOSOSKI | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
990 for the year ended June 30, 2024: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| C MICHAEL SMITH | PRESIDENT Officer | 40 | $153,000 |
| CHREATHA ALSTON | CHAIR Trustee or director, Officer | 1 | $0 |
| CRAIG WOOD | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| SHANNON BECKER | SECRETARY/TR Trustee or director, Officer | 1 | $0 |
| DEBBIE ANDLETON | DIRECTOR Trustee or director | 0.5 | $0 |
| ANTONIO MCBROOM | DIRECTOR Trustee or director | 0.5 | $0 |
| JENNIFER PLATT | DIRECTOR Trustee or director | 0.5 | $0 |
| GREG LEWIS | DIRECTOR Trustee or director | 0.5 | $0 |
| JEFF WILSON | DIRECTOR Trustee or director | 0.5 | $0 |
| ANTHONY JACKSON | DIRECTOR Trustee or director | 0.5 | $0 |
| DAN LAMONTAGNE | DIRECTOR Trustee or director | 0.5 | $0 |
| HANK RAPER | DIRECTOR Trustee or director | 0.5 | $0 |
| CINDY POINDEXTER | DIRECTOR Trustee or director | 0.5 | $0 |
| TAYLOR HOBBS | DIRECTOR Trustee or director | 0.5 | $0 |
| LISA CHAPMAN | DIRECTOR Trustee or director | 0.5 | $0 |
990 for the year ended June 30, 2023: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| C MICHAEL SMITH | PRESIDENT Officer | 40 | $150,597 | $11,925 |
| CHREATHA ALSTON | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| CRAIG WOOD | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| SHANNON BECKER | SECRETARY/TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| DEBBIE ANDLETON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANTONIO MCBROOM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JENNIFER PLATT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SALY ROMERO-TORRES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TRAVIS KOSOKI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BOBBY PALMER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| STEPHANIE TERRY | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 1627, PITTSBORO, NC 27312-1627
- Principal officer (990 for 2024)
- C MICHAEL SMITH, 964 EAST ST, PITTSBORO, NC 27312
- Signed the 990
- C MICHAEL SMITH, PRESIDENT
- Phone
- (919) 542-8274
- Website
- WWW.CHATHAMEDC.ORG
- Return prepared by
- ROSE GROUP CPAS PLLC
Mission
BUILDING ON THE COUNTY'S STRATEGIC LOCATION BETWEEN THE TRIAD AND TRIANGLE, EDC IS POSITIONING CHATHAM AS THE PREFERRED LOCATION FOR EMERGING GROWTH COMPANIES. THE POLICY-DRIVEN APPROACH FOCUSES ON TARGETED ATTRACTION, RETENTION, AND ENTREPRENEURSHIP TO IMPROVE THE LIVES OF COUNTY RESIDENTS. EDC SUPPORTS INFRASTRUCTURE IMPROVEMENTS AND PRESERVATION OF THE COUNTY'S STRONG QUALITY OF PLACE.
Program accomplishments
- COORDINATE EFFORTS OF CHATHAM COUNTY AND MUNICIPAL GOVERNMENTS WITH A POLICY-DRIVEN APPROACH DESIGNED TO CREATE JOBS, INCREASE THE COMMERCIAL TAX BASE, AND BUILD PROSPERITY FOR RESIDENTS BY FOCUSING ON ATTRACTION, RETENTION AND ENTREPRENEURSHIP.Expenses $465,580
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-2048401
- 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
- 1998
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $1,207,639
- Income (IRS master file)
- $614,971
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $609,331 | $702,599 | $1,207,639 | IRS |
| 990 | June 2024 | $532,388 | $648,220 | $1,253,122 | IRS |
| 990 | June 2023 | $519,154 | $534,387 | $1,378,829 | XML |
| 990 | June 2022 | $1,328,079 | $692,724 | $1,387,229 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | 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 56-2048401).
Questions about CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION is 56-2048401.
- Is CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CHATHAM COUNTY 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 CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION 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 CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION 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 CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names C MICHAEL SMITH.
- Who are the officers and directors of CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 13 people; 1 received compensation from the organization, the highest $153,000 (C MICHAEL SMITH, PRESIDENT).
- How much revenue does CHATHAM COUNTY ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $609,331, expenses of $702,599 and total assets of $1,207,639 at year end.
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All nonprofits in PITTSBORO · North Carolina · Community improvement and capacity building