Civic Intelligence

Greater Hickory Classic Foundation Inc

EIN 20-0170515 • 501(c)3 • Conover, NC

Profile

Greater hickory classic foundation, inc. Primary mission is to raise funds that will be distributed to other 501(c)(3) organizations.

3763 Golf Drive NEConover, NC 28613

greaterhickoryclassic.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

100th percentile

12.02x

Higher debt load relative to assets than 100% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

92nd percentile

1.81x

Higher debt load relative to revenue than 92% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

4th percentile

-92%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2013 to 2014

Revenue Growth

6th percentile

-43%

Faster revenue growth than 6% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Up

$48,116

Up $169,878 (+140%) from 2013

Liabilities

Up

$578,250

Up $465,141 (+411%) from 2013

Net Assets

Down

-$530,134

Down $295,263 (-126%) from 2013

Revenue

Down

$319,862

Down $237,984 (-43%) from 2013

Expenses

Up

$615,125

Up $7,126 (+1.2%) from 2013

Net Income

Down

-$295,263

Down $245,110 (-489%) from 2013

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0-$500K-$1.0MAssets 2010: $55,120Liabilities 2010: $192,568Net Assets 2010: -$137,4482010Assets 2011: $0Liabilities 2011: $40,383Net Assets 2011: -$40,3832011Assets 2012: -$154,395Liabilities 2012: $30,323Net Assets 2012: -$184,7182012Assets 2013: -$121,762Liabilities 2013: $113,109Net Assets 2013: -$234,8712013Assets 2014: $48,116Liabilities 2014: $578,250Net Assets 2014: -$530,1342014

Highlighted filing

2014

Assets$48,116
Liabilities$578,250
Net Assets-$530,134

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $134,2052010Expenses 2011: $123,4352011Expenses 2012: $79,9892012Revenue 2013: $557,846Expenses 2013: $607,999Net Income 2013: -$50,1532013Revenue 2014: $319,862Expenses 2014: $615,125Net Income 2014: -$295,2632014

Highlighted filing

2014

Revenue$319,862
Expenses$615,125
Net Income-$295,263

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jul 14, 2015
Return Version
2014v5.0
Gross Receipts
$2,824,934
Mission and Program Overview

Mission

Greater hickory classic foundation, inc. Primary mission is to raise funds that will be distributed to other 501(c)(3) organizations.

To raise funds for qualified charitable organizations by hosting a pga senior tour golf tournament in our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$-219,320$25,788▲ $245,108
Accounts Receivable$97,558$22,328▼ $75,230
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-234,871$-530,134▼ $295,263
Total Assets$-121,762$48,116▲ $169,878
Liabilities
Accounts Payable and Accrued Expenses$113,109$578,250▲ $465,141
Total Liabilities$113,109$578,250▲ $465,141
Net Assets / Fund Balance
Total Net Assets Fund Balance$-234,871$-530,134▼ $295,263
Total Liabilities and Net Assets / Fund Balance$-121,762$48,116▲ $169,878
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jim CorrellPresidentFT$155,846$155,846

Board Members and Trustees

NameTitle
Steve MullChairman
Ned JarrettHonorary Chairman
Moore PattonVice-president
Barbara BeattyDirector
Bebe LeitchDirector
Benny YountDirector
Bill ParrishDirector
Bill SchrumDirector
Burk WyattDirector
Danny HearnDirector
David ColburnDirector
Deborah Ashley-smithDirector
Donald C BeaverDirector
George GlisanDirector
Jennie ConnerDirector
Larry BowmanDirector
Lee MoritzDirector
Leroy LailDirector
Mike GenoveseDirector
Robin NicholsonDirector
Rudy WrightDirector
Scott MillarDirector
Steve HuntDirector
Jim Ten KateSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Pga Tour INCPurse/services112 PGA TOUR BLVD, Ponte Vedra Beach, FL 32082$1,073,000
Revenue and Support

Revenue Composition

Contributions and Grants
$23,431
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$296,431
Change in Net Assets
$-295,263
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$375,278
Salaries, Compensation, and Employee Benefits$239,847
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$96,509$123,041-$219,550
All Other Expenses$39,828$41,746-$81,574
Other Expenses$5,678$35,155-$40,833
Payroll Taxes$8,956$11,341-$20,297
Fees for Services Other-$10,986-$10,986
Total Functional Expenses$263,579$351,546$0$615,125
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$2,801,503
Fundraising Direct Expenses$2,505,072
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Greater Hickory Classic and Events$2,824,934$2,801,503$988,638$1,812,865
Total Events$2,824,934$2,801,503$2,505,072$296,431
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Donald C BeaverMAJORITY SHAREHOLDER: ROCK BARN GOLF & SPA, AND BEAVER SPORTS PROPERTIESCONTRACT ARRANGEMENT WITH THESE ENTITIES TO THE NONPROFIT ORGANIZATION: 1) BEAVER SPORTS PROPERTIES PAID $44,370 FOR TOURNAMENT SUITES. 2) ROCK BARN GOLF & SPA WAS PAID $90,435 FOR FOOD AND BEVERAGE SERVICES. 3) ROCK BARN GOLF & SPA WAS PAID $8,000 FOR OFFICE RENT.No-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Rock barn properties, inc. Dba rock barn golf & spa is owned and controlled by donald c. Beaver, ghc board member beaver sports properties, inc. Is owned and controlled by donald c. Beaver, ghc board member

Form 990, Part VI, Section B, Line 11

A draft of the form 990 will be e-mailed to members for their review before the return is signed and filed.

Form 990, Part VI, Section B, Line 12C

All conflict of interest must be brought before the board. Any director, staff or committee member with a conflict of interest recuse themselves from discussion and from voting regarding the matter. All board members must sign and date the documented conflict after voting.

Form 990, Part VI, Section B, Line 15

Compensation is decided using comparability data from similar non-profit organizations.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements avalible to the public upon request. The form 990 is also available via the internet at guidestar.org.

Filing and Contact Details

Filer

Filer Name
Greater Hickory Classic Foundation Inc
EIN
20-0170515
Phone
8284594000
Address
3763 GOLF DRIVE NE, CONOVER, NC 28613

Signing Officer

Name
Jim Correll
Title
President
Phone
8284594000
Signed
2015-07-14

Organization Details

Principal Officer
Jim Correll
Formed
2003
Legal Domicile
Nc
Voting Board Members
25
Independent Board Members
24
Employees
4
Volunteers
600

Preparer

Firm
Davidson Holland Whitesell & Co Pllc
Address
209 13TH AVENUE PLACE NW SUITE 200, HICKORY, NC 28601
Preparer
Susan M Balke
Phone
8283222070
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Other admin expenses: program service expenses 0. Management and general expenses 21,972. Fundraising expenses 0. Total expenses 21,972. Liability insurance: program service expenses 21,327. Management and general expenses 0. Fundraising expenses 0. Total expenses 21,327. Other course/facility expenses: program service expenses 0. Management and general expenses 19,774. Fundraising expenses 0. Total expenses 19,774. Security: program service expenses 9,247. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,247. Promotion expenses: program service expenses 4,258. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,258. Volunteer uniforms & expenses: program service expenses 2,838. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,838. Advertising: program service expenses 2,150. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,150. Miscellaneous rounding: program service expenses 8. Management and general expenses 0. Fundraising expenses 0. Total expenses 8.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5HONORARY CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10VICE-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24PRESIDENT
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