IRS 990 Form Wilmington North Carolina 2018-2025

IRS 990 2025 Form Wilmington North Carolina: What You Should Know

While a large majority of nonprofits file the form annually, the form itself is only one indicator of an organization's fiscal health. Other indicators of a nonprofit organization's financial health include audits, IRS public information requests, and other measures. The Wilmington North Carolina Coastal Land Trust Inc. is a nonprofit with an IRS tax-exempt status since 1986 and has a balance of 5,067,942 in assets and 9,764,932 in liabilities. It collects public funds to buy, restore and manage public lands in North Carolina.  If you are in any need of public records contact us to get copies. The Form 990 shows how the Wilmington North Carolina Coastal Land Trust Inc. spent the public funds it collected for its mission. The Form 990 also provides information on the charity's operating expenses. In addition, the Form 990 includes a box that asks for a description of the charity's management. The charity had no other income from its operations in Fiscal Year 2016. According to the Form 990, the charity spent 1,095,731 in financial management services in Fiscal Year 2016. These services were provided by an outside consulting service provider that handled the financial planning for the nonprofit and its affiliates. This is the third service provision the charity has required since fiscal year 2000. The Form 990 shows that the charity spent 5,731,200 the year before in financial management services. The charity spent 7,074,000 of its operating budget on these services.  The charity's expenditure was 928,891 in the fiscal year of 2016. In Fiscal year 2016, the charity spent 1,028,500 (88 percent) of its operating budget and 3,974,000 of its operating budget on debt service on the organization's general obligation bonds. This debt service represents the charity's commitment to the community. The charity reported revenue of 14,869,822 in the fiscal year of 2017. It spent 4,769,000 in this fiscal year — more than any year ever — on debt service on debt incurred in earlier fiscal years (2016, 2025 and 2014) as well as the debt it has already incurred, as shown on the Form 990. The charity received negative net operating income of 1,092,822 in the fiscal year of 2018. Net operating income is the tax benefit an organization gets from operating activities.

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