Public Charity

Burlington Development Corporation

Based in Burlington, NC, Burlington Development Corporation operates as a Public Charity. The organization reported $4.5M in revenue, $3.6M in expenses, $32.3M in total assets for fiscal year 2025. Imperigo tracks 13 reported grant relationships connected to this organization totaling approximately $285K.

EIN: 561878125 Burlington, NC Low-Income & Subsidized Rental Housing NTEE: L21 Latest filing: 2025
Total Revenue$4.5M
Total Expenses$3.6M
Total Assets$32.3M
Grant Records13
Funding Total$285K
Filing Years2021–2025

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.

Where $100 goes at Burlington Development Corporation

How Burlington Development Corporation divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.

$92 Programs the work itself
$8 Management running the organization
$0 Fundraising none reported

No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.

Inside the $92 for programs

$92
Provide scholarships and other programs and learning experiences to support continuing education for low- and very-low-income persons
All program spending
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Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Officers & Directors

Secretary/Treasurer Charles Carter
Vice Chair Melinda Freeman
Trustee Michael Graves
Trustee Millicent Cash
Chair Patrick Mills
Trustee Reggie Wilson

Officer compensation and complete director data available with membership.

Top Grant Purposes

General Support
$201,616 10 grants
Health & Medicine
$58,400 2 grants
Human & Social Services
$25,000 1 grant

Financial Trends

Year Revenue Expenses Assets
2025 $4.5M $3.6M $32.3M
2024 $3.2M $2.3M $20.3M
2023 $152K $188K $13.8M
2022 $143K $108K $2.1M
2021 $473K $103K $2.0M

Between 2021 and 2025, reported annual revenue grew from $473K to $4.5M (+843%), with total assets most recently reported at $32.3M.

Interactive year-over-year charts and full filing details available with membership.

See the full picture for Burlington Development Corporation

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