Olive Hill Community Economic Development Corporation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
Olive Hill Community Economic Development Corporation Inc. empowers low-to-moderate-income individuals across Burke Caldwell Catawba and McDowell Counties through housing counseling financial literacy disaster recovery and small business development. We support clients in achieving homeownership avoiding foreclosure building credit and growing microenterprises. In 2024 Olive Hill CEDC served up to 500 individuals through one-on-one counseling financial workshops and post-disaster housing recovery services following Tropical Storm Helene. Our work includes culturally responsive outreach small business and nonprofit support and equity-focused programs that promote economic mobility. We also host community engagement events and partner with local institutions to expand access to essential services.
- Income
- $130,049
- Spending
- $81,190
- Reserves
- 11.4 months of spending
- Largest source of income
- donations and private grants, 98%
- Highest pay
- $16,459, executive director
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 90 out of 100. Higher than 91% of charities in its peer group (housing, under $250k).
Reserves
28 of 35Spendable reserves would cover 11.4 months of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
15 of 15Income exceeded spending by 38% of income.
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
This organization files the short tax form, which does not ask about boards, policies or audits. That is normal for a small charity and is not a mark against it.
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (7)
- $50,571 spent. Olive Hill CEDC advanced its homeownership mission in 2024 by conducting 10 education classes each averaging 812 participants from underserved communities across Burke Caldwell Catawba and McDowell Counties. All participants were required to complete financial literacy training as part of the program. We also provided one-on-one counseling to an average of 4 clients per month totaling 48 personalized sessions for the year. These services helped 15 participants successfully transition to homeownership. Despite being led by just two staff members our team extended its reach through recurring Homeownership Month events with Habitat for Humanity of Catawba County and outreach efforts with the Health Department Employment Security Commission Community Health Needs Assessment and the Burke County Housing Development Workgroup. With additional funding Olive Hill CEDC could expand these outcomes and serve significantly more families across the region.
- $50,000 spent. In response to Tropical Storm Helene Olive Hill CEDC delivered critical recovery support to over 100 residents across western North Carolina many of whom were low-income renters and homeowners facing displacement property damage or income disruption. Services included post-disaster housing counseling emergency financial literacy workshops individualized rental and mortgage support and direct referrals to housing rehabilitation resources and legal aid partners. These interventions helped stabilize families prevent homelessness and connect households to long-term recovery pathways. Our outreach also extended to community-wide education and coordination with local agencies to ensure equitable recovery assistance reached those most affected. Olive Hill CEDCs disaster recovery model reinforces our capacity to respond quickly serve rural communities with empathy and expertise and advocate for fair and resilient housing systems.
- $15,000 spent. Olive Hill CEDC supported local entrepreneurship and economic mobility by providing small business counseling strategic planning support and access to capital guidance to 18 clients in 2024. Services included one-on-one business plan development financial readiness assessments and assistance navigating startup and expansion challenges. As part of our effort to connect underserved entrepreneurs to culturally responsive lending we referred 6 clients to Mountain BizWorks Multicultural Catalyst Fund for non-traditional financing. Additionally 1 client was referred to The Industrial Commons loan program for targeted financial assistance. These referrals helped clients secure capital formalize operations and move closer to sustainable income generation. Through this work Olive Hill CEDC continues to close racial wealth gaps and expand inclusive economic opportunity for emerging business owners in western North Carolina.
- Form 990-EZ Part III - Homeownership & Financial Literacy Olive Hill CEDC conducted 10 homeownership education classes in 2024 each averaging 8-12 participants. All participants were required to complete financial literacy training. Additionally 48 one-on-one housing counseling sessions were provided throughout the year. These efforts resulted in 15 first-time home purchases. Despite a two-person staff Olive Hill expanded reach through Homeownership Month events with Habitat for Humanity and partnerships with agencies like the Health Department Employment Security Commission and county housing workgroups.
- Form 990-EZ Part III - Disaster Recovery In response to Tropical Storm Helene Olive Hill CEDC provided post-disaster support to over 100 residents in western North Carolina. Services included housing counseling emergency financial literacy rental support and referrals to housing repair and legal aid resources. These efforts helped stabilize vulnerable households and extended Olive Hills capacity to respond equitably and effectively to regional recovery needs.
- Form 990-EZ Part III - Small Business Development Olive Hill CEDC provided small business counseling planning support and capital access navigation to 18 clients. Six were referred to Mountain BizWorks Multicultural Catalyst Fund for nontraditional financing and one was referred to The Industrial Commons loan program. These services helped underserved entrepreneurs build capacity and move toward sustainable income generation.
- Form 990-EZ Part V Line 34 - Changes to Organizing Documents No significant changes were made to the organizations organizing documents in 2024.
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since July 1999.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.