A Budget Is a

Story Told Through Numbers

For nonprofit leaders, municipal budget adoption often brings a mix of reactions: appreciation for public investment, questions about priorities, and curiosity about what comes next. Budgets are more than financial documents. They communicate priorities, reflect values, and influence how communities experience services and opportunity. Read our recent blog post for more insights on the City of Greensboro budget.

The City of Greensboro recently passed its budget, while the City of High Point is expected to adopt its budget during its June 15 City Council meeting. The Guilford County Board of Commissioners is expected to adopt its budget on June 18.

Things to Keep Your Eye On

State Legislators Agree on a Framework for the State Budget



North Carolina legislative leaders announced that the NC House and Senate have reached a framework agreement for the state’s FY2025–27 budget, making progress toward ending North Carolina’s status as the only state currently operating without a finalized budget.The proposed budget includes a series of future income tax cuts that could affect long-term funding for nonprofits, state grants, and public services. North Carolina’s individual income tax rate, currently 3.99%, would decrease to:

• 3.49% in 2027
• 3.24% in 2030
• 2.99% in 2033

The rate could eventually fall as low as 2.49% depending on state revenue levels. The agreement also keeps the planned phase-out of the corporate income tax, reducing it from 2% today to 1% in 2028 before eliminating it entirely in 2030.In addition, lawmakers plan to place constitutional amendments on the November 2026 ballot that would restrict future increases to income tax rates and property tax assessments.

A Lower Tax Income Cap Could Harm Non-Profits



A bill introduced in the NC Senate (S.1080) would place a constitutional amendment on the November 2026 ballot to lower North Carolina’s maximum allowable income tax rate from 7% to 3.5%. Nonprofit advocates, including NC Center for Nonprofits, have raised concerns about the proposal’s potential long-term impact on state funding and public services.

Although the proposed 3.5% cap is higher than the current 2% corporate income tax rate, it is lower than the current individual income tax rate of 3.99%. North Carolina’s individual income tax rate was 5.25% as recently as 2021, making a 3.5% cap historically low for the state.

Critics of the proposal argue that limiting future lawmakers’ ability to raise income taxes could reduce the state’s flexibility during economic downturns or recessions.

Title The U.S. Department of Labor Abandons the 2024 Overtime Rule



The U.S. Department of Labor officially announced that it is abandoning the 2024 federal overtime rule, following a November 2024 federal court decision in Texas that invalidated the rule. As a result, the 2019 overtime standards under the U.S. Department of Labor and the Fair Labor Standards Act will remain in effect.

The current salary threshold for exempt employees will stay at $35,568 annually ($684 per week). The 2024 rule had temporarily raised the threshold to $43,888 in July 2024 and planned to increase it further to $56,656 in January 2025, with automatic updates every three years beginning in 2027.

For weekly policy updates, check out the

NC Center for Nonprofit's policy updates here!

Upcoming Events

JUNE 3 - Building Resilient Futures: Leading, Funding, Innovating for Impact - Greensboro

Hosted by NC Center for Nonprofits, this Greensboro event will focus on leadership, sustainable funding, and innovative approaches to community impact. Registration required.

JUNE 11 - Immigration Matters Forum



The International Civil Rights Center & Museum will host its “Immigration Matters” forum on June 11 at 6 PM. The conversation will explore immigration issues, community experiences, and the broader impact of policy decisions.

JUNE 15 - Triad Nonprofit Policy Conversation

Join regional nonprofit leaders for a policy-focused conversation hosted by the NC Center for Nonprofits. The discussion will center nonprofit advocacy, policy engagement, and shared regional priorities across the Triad.

For a full list of local events and trainings, please visit the Guilford Nonprofit Consortium and HandsOn NWNC websites.