Civic Intelligence

Greater Hickory Classic Foundation Inc

990 • Fiscal year 2013 • EIN 20-0170515

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 14, 2014

3763 Golf Drive NE28613

(828) 459-4000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2013

Liabilities / Revenue

62nd percentile

0.20x

Higher debt load relative to revenue than 62% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Net Margin

22nd percentile

-9.0%

Higher net margin than 22% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

84th percentile

$139,818

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 25.1% of source-year revenue.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Asset Growth

Score unavailable

No value available

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

Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Up

-$121,762

Up $32,633 (+21%) from 2012

Net Assets

Down

-$234,871

Down $50,153 (-27%) from 2012

Liabilities

Up

$113,109

Up $82,786 (+273%) from 2012

Revenue

$557,846

No earlier filing loaded for comparison.

Expenses

Up

$607,999

Up $528,010 (+660%) from 2012

Net Income

-$50,153

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2013

Assets-$121,762
Liabilities$113,109
Net Assets-$234,871

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2013

Revenue$557,846
Expenses$607,999
Net Income-$50,153
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 14, 2014
Return Version
2013v3.0
Gross Receipts
$3,079,426
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
Accounts Receivable$19,816$97,558▲ $77,742
Loans From Officers Directors$3,500$0▼ $3,500
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Cash and Non-Interest-Bearing Accounts$-174,211$-219,320▼ $45,109
Rtn Earn Endowment Incm Other Fnds$-184,718$-234,871▼ $50,153
Total Assets$-154,395$-121,762▲ $32,633
Liabilities
Accounts Payable and Accrued Expenses$27,000$113,109▲ $86,109
Other Liabilities$-177$0▲ $177
Total Liabilities$30,323$113,109▲ $82,786
Net Assets / Fund Balance
Total Net Assets Fund Balance$-184,718$-234,871▼ $50,153
Total Liabilities and Net Assets / Fund Balance$-154,395$-121,762▲ $32,633
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jim CorrellPresidentFT$139,818$139,818

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/services-$778,000
Home Tipps Trophy Suites INCSuites/skyboxes-$193,000
Revenue and Support

Revenue Composition

Contributions and Grants
$75,355
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$482,491
Change in Net Assets
$-50,153
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$366,572
Salaries, Compensation, and Employee Benefits$241,427
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$97,145$123,852-$220,997
All Other Expenses$40,092$42,021-$82,113
Other Expenses$5,715$35,386-$41,101
Payroll Taxes$9,014$11,416-$20,430
Fees for Services Other-$11,058-$11,058
Total Functional Expenses$254,137$353,862$0$607,999
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,004,071
Fundraising Direct Expenses$2,521,580
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$3,079,426$3,004,071$1,062,960$1,941,111
Total Events$3,079,426$3,004,071$2,521,580$482,491
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$142,805

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$3,500$0▼ $3,500
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

EIN
20-0170515
Phone
8284594000

Signing Officer

Name
Jim Correll
Title
President
Phone
8284594000
Signed
2014-11-14

Organization Details

Principal Officer
Jim Correll
Formed
2003
Legal Domicile
Nc
Voting Board Members
25
Independent Board Members
24
Employees
4
Volunteers
850

Preparer

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 22,116. Fundraising expenses 0. Total expenses 22,116. Liability insurance: program service expenses 21,468. Management and general expenses 0. Fundraising expenses 0. Total expenses 21,468. Other course/facility expenses: program service expenses 0. Management and general expenses 19,905. Fundraising expenses 0. Total expenses 19,905. Security: program service expenses 9,308. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,308. Promotion expenses: program service expenses 4,285. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,285. Volunteer uniforms & expenses: program service expenses 2,857. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,857. Advertising: program service expenses 2,164. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,164. Miscellaneous: program service expenses 10. Management and general expenses 0. Fundraising expenses 0. Total expenses 10.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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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
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IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
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