2025-05-07T17:16:56-04:00 2024-12-31 990EZ 2024-01-01 311639629 Olive Hill Community Economic Development Corporation % Beverly Carlton OLIV 8284754620 PO Box 4008 MORGANTON NC 28680 Beverly Carlton Executive Director 2025-05-08 2024 2025-03-06 01:10:19Z X www.ohcedc.org X X 130049 X 127895 2074 80 0 0 0 130049 54950 2529 12797 449 10465 81190 48859 28277 77136 X 56562 53817 25000 23319 81562 77136 53285 0 28277 77136 X 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. 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. 50571 50571 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. 50000 50000 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. 15000 15000 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. 0 0 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. 0 0 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. 0 0 Form 990-EZ Part V Line 34 - Changes to Organizing Documents No significant changes were made to the organizations organizing documents in 2024. 0 0 115571 Beverly Carlton Executive Director 40 16459 0 0 Winston Hill Jr Board President 2 0 0 0 Leslie Kern Board Secretary 2 0 0 0 Ebony Johnson Hill Treasurer 2 0 0 0 Rev Anthony Ratcliff Board Member 2 0 0 0 Charlita Lytle Board Member 2 0 0 0 false false false false false 0 false false false false NC Smart Business Solutions 911 West Union St Morganton NC 28655 8284135104 false false false false false false false false false false false NONE NONE X 103336 213449 43116 124056 130049 614006 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 103336 213449 43116 124056 130049 614006 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 614006 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 103336 213449 43116 124056 130049 614006 1 1 0 0.00 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Doing Business As Names OHCEDC Part I, line 16 | Other Expenses:, Amount:| Credit Reports travel to conferences + offsite locations providing program trainings, $10465| Part II, line 24 | Explanation:, BOYAmount:, EOYAmount:| Other assets, $25000, $23319| Part II, line 26 | Explanation:, BOYAmount:, EOYAmount:| Other assets, $53285, $0|