Carolinas Agc Inc in Charlotte, North Carolina (NC)

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Carolinas Agc Inc
Employer Identification Number (EIN)560126510
Name of OrganizationCarolinas Agc Inc
Address1100 Euclid Ave, Charlotte, NC 28203-4522
ActivitiesAdvertising, Other school related activities, Job training, counseling, or assistance
SubsectionBoard of Trade
Ruling Date01/1940
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$5,000,000 to $9,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$7,084,877
Amount of Income$6,590,220
Form 990 Revenue Amount$6,458,638
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Promotion of Business


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Amount of income in 2012: $6,590,220
Carolinas Agc Inc: 

 $6,590,220
Other organizations performing similar types of work: 

 $185,444

Assets in 2012: $7,084,877
This organization: 

 $7,084,877
Other organizations performing similar types of work: 

 $147,104

Expenses in 2007: $6,863,794
This organization: 

 $6,863,794
Other organizations performing similar types of work: 

 $1,119,284

Income to expenses ratio in 2007: 0.9
Carolinas Agc Inc: 

 0.9
Other organizations performing similar types of work: 

 1.1

Number of employees in 2007: 63
Carolinas Agc Inc: 

 63
Other organizations performing similar types of work: 

 33

Employees paid over $50,000 in 2007: 1.6%
This organization: 

 1.6%
Other organizations performing similar types of work: 

 2.3%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20062007
Total revenue$6,299,638$6,461,236
Contributions, gifts, grants, and similar amounts received$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0
Indirect public support$0$0
Government contributions (grants)$0$0
Program service revenue including government fees and contracts$955,413$1,259,097
Membership dues and assessments$4,966,930$4,854,792
Interest on savings and temporary cash investments$49,819$105,410
Dividends and interest from securities$167,934$134,876
Net rental income or (loss)$110,189$51,355
Gross rents$243,266$232,739
Less: rental expenses$133,077$181,384
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$0$0
Gross amount from sales of assets other than inventory$0$0
Less: cost or other basis and sales expenses$0$0
Net income or (loss) from special events and activities$0$0
Gross revenue$0$0
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$49,353$55,706
Total expenses$6,470,401$6,863,794
Program services$0$0
Management and general$0$0
Fundraising$0$0
Payments to affiliates$557,750$557,750
Net assets or fund balances at end of year$3,389,276$3,349,959
Excess or (deficit) for the year$-170,763$-402,558
Net assets or fund balances at beginning of year$2,974,834$3,389,276
Other changes in net assets or fund balances$585,205$363,241
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$6,306,044$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$16,882
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$247,265$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$2,284,128$0$0$0
Pension plan contributions not included above$240,272$0$0$0
Employee benefits not included above$464,156$0$0$0
Payroll taxes$244,335$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$18,575$0$0$0
Legal fees$82,760$0$0$0
Supplies$0$0$0$0
Telephone$177,935$0$0$0
Postage and shipping$84,587$0$0$0
Occupancy$372,754$0$0$0
Equipment rental and maintenance$146,522$0$0$0
Printing and publications$182,766$0$0$0
Travel$245,049$0$0$0
Conferences, conventions, and meetings$621,585$0$0$0
Interest$81,331$0$0$0
Depreciation, depletion, etc.$194,539$0$0$0
Other expenses not covered above$600,603$0$0$0
Balance Sheets
20062007
Total assets$12,847,440$12,765,311
Cash - non-interest-bearing$308,606$612,130
Savings and temporary cash investments$3,762,111$3,372,497
Accounts receivable less allowance for doubtful accounts$4,123,841$4,403,342
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$48,765$118,606
Investments - publicly-traded securities$1,878,471$1,477,442
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$1,171,775$1,210,824
Investments - other$165,161$181,081
Land, buildings, and equipment less accumulated depreciation$1,370,666$1,388,389
Other assets, including program-related investments$18,044$1,000
Total liabilities$9,458,164$9,415,352
Accounts payable and accrued expenses$1,923,887$3,602,020
Grants payable$0$0
Deferred revenue$5,733,070$4,769,380
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$1,801,207$1,043,951
Other liabilities$0$1
Total liabilities and net assets/fund balances$12,847,440$12,765,311
Total net assets or fund balances$3,389,276$3,349,959
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20062007
Total revenue$6,299,638$6,461,236
Total revenue, gains, and other support per audited financial statements$6,884,843$7,337,365
Other expenses$585,205$694,745
Net unrealized gains on investments$174,016$-541,522
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$411,189$1,236,267
Other revenue$0$-181,384
Investment expenses$0$0
Other$0$-181,384
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20062007
Total expenses$6,470,401$6,863,794
Total expenses and losses per audited financial statements$6,470,401$7,376,682
Other revenue$0$512,888
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$0$512,888
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$224,786$22,479$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings23
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$4,584,792
Section 162(e) lobbying and political expenditures$301,271
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$339,835
Taxable amount of lobbying and political expenditures$-38,564
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200663
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$304,731$6,156,505
Program service revenue
Program service revenue 1000000$000$0$91,176
Program service revenue 2000000$000$0$1,167,921
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$4,854,792
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$105,410$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$134,876$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$51,355$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$13,090$42,616
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
562246413100%$1,350,368$479,180
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
20052006
Total$0$0
Gifts, grants, and contributions received$0$0
Membership fees received$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$6,933,896
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$6,508,897
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$12,188
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$113,580
Gross rents (Real / Personal)$253,793 / $0
Less: rental expenses (Real / Personal)$140,213 / $0
Rental income or (loss) (Real / Personal)$113,580 / $0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$299,231
Statement of Functional Expenses (for 2011)
Total functional expenses$7,192,538
Compensation of current officers, directors, trustees, and key employees$470,756
Other salaries and wages$2,126,016
Payroll taxes$191,854
Professional fundraising services$0
Other$4,403,912
Balance Sheet (for 2011)
Total assets$7,554,485
Total liabilities$4,820,426
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$4,820,426
Total net assets or fund balances$2,734,059
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
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Number of organizations performing similar types of work
Alaska2
Alabama5
Arkansas6
Arizona6
California54
Colorado8
Connecticut18
District of Columbia12
Delaware2
Florida25
Georgia18
Hawaii1
Iowa10
Idaho2
Illinois27
Indiana11
Kansas8
Kentucky4
Louisiana4
Massachusetts24
Maryland15
Maine10
Michigan13
Minnesota15
Missouri23
Mississippi8
Montana3
North Carolina22
North Dakota2
Nebraska4
New Hampshire3
New Jersey19
New Mexico3
Nevada2
New York73
Ohio20
Oklahoma7
Oregon4
Pennsylvania16
Rhode Island6
South Carolina7
South Dakota2
Tennessee9
Texas32
Utah3
Virginia23
Vermont3
Washington6
Wisconsin22
West Virginia2
Wyoming1
International1
Total626

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