Nonprofit · EIN 81-3076695
GASTON INNOVATION GROUP INC
Tax-exempt · BELMONT, NC 28012
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $559,860 | $461,981 | $97,879 | $284,254 | $328,951 | -$44,697 |
| December 31, 2023 | 990 | $398,522 | $474,891 | -$76,369 | $251,808 | $394,384 | -$142,576 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $316,000
- of which government grants
- $300,000
- Program service revenue
- $17,396
- Investment income
- $0
- Net rental income
- $223,689
- Other revenue
- $226,464
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $110,000
- Salaries, compensation and benefits (total)
- $118,589
- Professional fundraising fees
- $0
- Accounting fees
- $6,600
- Occupancy
- $156,634
- Depreciation
- $70,324
- Program services (functional)
- $207,555
- Management and general (functional)
- $207,106
- Fundraising (functional)
- $47,320
Balance sheet and other
- Total assets, start of year
- $251,808
- Total assets, end of year
- $284,254
- Total liabilities, end of year
- $328,951
- Net assets, end of year
- -$44,697
- Land, buildings and equipment
- $42,491
- Net assets without donor restrictions
- -$44,697
- Gross receipts
- $559,860
- Employees
- 1
- Volunteers
- 37
- Year formed
- 2016
- 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 |
|---|---|---|---|
| Terry Cox | Executive Dir. Officer | 60 | $110,000 |
| Dr Stephen Hannon | Former Chairman Trustee or director, Officer | 1 | $0 |
| Nicole Murphey | Vice Chairman Trustee or director, Officer | 0.5 | $0 |
| Sharai Lavoie | Treas/Secretary Trustee or director, Officer | 0.5 | $0 |
| David Jones | Chairman Trustee or director, Officer | 2 | $0 |
| Mark Cramer | Advisor Trustee or director | 1 | $0 |
| Greg Lovette | Director Trustee or director | 0.5 | $0 |
| Tim Cascio | Director Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Terry Cox | Executive Dir. Officer | 60 | $110,000 |
| Dr Stephen Hannon | Former Chairman Trustee or director, Officer | 3 | $0 |
| Nicole Murphey | Vice Chairman Trustee or director, Officer | 3 | $0 |
| Sharai Lavoie | Treas/Secretary Trustee or director, Officer | 2 | $0 |
| Charlie Peninger | Director Trustee or director | 1 | $0 |
| David Jones | Chairman Trustee or director, Officer | 3 | $0 |
| Mark Cramer | Advisor Trustee or director | 2 | $0 |
| Greg Lovette | Director Trustee or director | 1 | $0 |
| Tim Cascio | Director Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 52 A ERVIN ST, BELMONT, NC 28012-3327
- Principal officer (990 for 2024)
- Terry Cox, 52A Ervin Street, Belmont, NC 280123327
- Signed the 990
- David Jones, Chairman
- Phone
- (704) 604-4808
- Website
- www.techworksgaston.com
- Return prepared by
- Foard and Company PA
Mission
Gaston Innnovation Group, Inc., dba TechWorks Gaston, was formed for the purpose of improving the socio-economic conditions for citizens of Gaston County, North Carolina, by stimulating job growth through digital inclusion, small business formation and entrepreneurship, and advancement of technology. The programs and services the organization will be developing and delivering are badly needed in Gaston County due to the challenging economic conditions in the County. Gaston County had the highest unemployment rate (by at least .5%) of all the NC counties contiguous to and including Mecklenburg County and the highest poverty rate among NC counties in that same region. TechWorks Gaston addresses upward mobility for the low to moderate income population by expanding access to high speed internet, as well as specially-designed coding and other technology classes, a digital roadmap with digital literacy tools and training, and partnerships with local colleges and K-12 schools, and other orga
Program accomplishments
- K-12 STEM ClassesRowing & Robotics Summer Camp, June- July 2024Summer Coding Camp July 2024 for elementary, middle and high school youthRobotics Classes and First Lego League Competition Classes, Jan through Dec 2024Sunday Coding Club classes, Jan through Dec 2024, elementary, middle, and high school youth classesPaul D West Robotics Team Training, Jan thru Dec 2024Belmont Recreation Center Robotics, June-July 2024Highland School of Technology, Juniors Tech Day, Feb 26, 2024NC Digital Equity Grant funded $4,900 for K-12 STEM Programs in Q4 2024 Charlotte SIM Grant funded $3,500 for K-12 STEM CoursesExpenses $175,692 · revenue $6,275
- Pearson Vue Certification Testing Center and College Board Exam AdministrationTechWorks is open to the public for certification testing 5 days/week all year long. It's the only public certification testing center in Gaston County. We have paid proctors who manage the testing center. 1,622 testers used the center in 2024.We became a College Board Exam Center starting Nov 2024. SAT Exams were administered on Nov 2 & Dec 7, 2024, for a total of 80 students.NC Digital Equity Grant funded $3,043 for Pearson Vue Testing Proctors and SAT Exam operations.Expenses $31,733 · revenue $11,121
- Various Adult Enterpreneurial and Tech Daily CoursesMonthly Lunch & Learns for Entrepreneurs Cybersecurity for Small BusinessDeal Desk Sessions with seasoned entrepreneurs/investors Chat GPT Seminar Oct 13 and Dec 1, 2024NC Digital Equity Grant funded $600 for Chat GPT SeminarsExpenses $130
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
- 81-3076695
- 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
- 2019
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S19)
- Assets (IRS master file)
- $284,254
- Income (IRS master file)
- $559,860
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $559,860 | $461,981 | $284,254 | XML |
| 990 | December 2023 | $398,522 | $474,891 | $251,808 | IRS |
| 990 | December 2022 | $766,164 | $476,405 | $287,294 | IRS |
| 990 | December 2021 | $240,786 | $487,572 | $343,119 | IRS |
| 990 | December 2020 | – | – | – | 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 81-3076695).
Questions about GASTON INNOVATION GROUP INC
- What is the EIN of GASTON INNOVATION GROUP INC?
- The employer identification number (EIN) of GASTON INNOVATION GROUP INC is 81-3076695.
- Is GASTON INNOVATION GROUP INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
- Are donations to GASTON INNOVATION GROUP INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GASTON INNOVATION GROUP 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 INNOVATION GROUP 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 INNOVATION GROUP 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 INNOVATION GROUP INC?
- The 990 for the year ended December 31, 2024 names Terry Cox.
- Who are the officers and directors of GASTON INNOVATION GROUP INC?
- The 990 for the year ended December 31, 2024 lists 8 people; 1 received compensation from the organization, the highest $110,000 (Terry Cox, Executive Dir.).
- How much revenue does GASTON INNOVATION GROUP INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $559,860, expenses of $461,981 and total assets of $284,254 at year end.
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All nonprofits in BELMONT · North Carolina · Community improvement and capacity building