Civic Intelligence

Carolina Thread Trail

990 • Fiscal year 2019 • EIN 26-1528527

Jan 01, 2019 to Dec 31, 2019 • Filed on May 05, 2020

Organization ProfileWWW.CAROLINATHREADTRAIL.ORG
220 North Tryon StreetCharlotte, NC 28202

(704) 973-4500

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

14th percentile

-18%

Higher net margin than 14% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

97th percentile

$730,269

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 65.8% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

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

Source year 2019

Revenue Growth

Score unavailable

No value available

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

Source year 2019

Balance Sheet
Liabilities / Assets7th percentile

Assets

$6,554,153

No earlier filing loaded for comparison.

Net Assets

$6,554,153

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin14th percentile

Revenue

$1,109,535

No earlier filing loaded for comparison.

Expenses

$1,306,738

No earlier filing loaded for comparison.

Net Income

-$197,203

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$10M$5.0M$0Assets 2019: $6,554,153Liabilities 2019: $0Net Assets 2019: $6,554,1532019Assets 2020: $7,655,189Liabilities 2020: $0Net Assets 2020: $7,655,1892020Assets 2021: $9,604,448Liabilities 2021: $50Net Assets 2021: $9,604,3982021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2019

Assets$6,554,153
Liabilities$0
Net Assets$6,554,153
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0M-$10MRevenue 2019: $1,109,535Expenses 2019: $1,306,738Net Income 2019: -$197,2032019Revenue 2020: $1,864,609Expenses 2020: $1,186,767Net Income 2020: $677,8422020Revenue 2021: $2,824,826Expenses 2021: $1,321,483Net Income 2021: $1,503,3432021Revenue 2022: $337,577Expenses 2022: $9,811,944Net Income 2022: -$9,474,3672022

Highlighted filing

2019

Revenue$1,109,535
Expenses$1,306,738
Net Income-$197,203
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 5, 2020
Return Version
2019v5.1
Gross Receipts
$1,109,670
Mission and Program Overview

Mission

To provide capital, technical expertise, and support to local communities to successfully build the regional vision of the trail and conserve natural lanes along the trails.

To facilitate the creation of greenways, trails, blueways, parks, recreation areas or other open natural or civic spaces, with a goal towards preserving natural areas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,011,780$5,571,552▲ $559,772
Pledges and Grants Receivable$1,133,816$974,435▼ $159,381
Cash and Non-Interest-Bearing Accounts$52,982$8,166▼ $44,816
Total Assets$6,198,578$6,554,153▲ $355,575
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$6,198,578$6,554,153▲ $355,575
Total Net Assets Fund Balance$6,198,578$6,554,153▲ $355,575
Total Liabilities and Net Assets / Fund Balance$6,198,578$6,554,153▲ $355,575

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$3,107,217--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$6,198,578$1,037,817▲ $573,041$601,080$6,554,153
2018$6,835,020$745,274▼ $138,768$725,608$6,198,578
2017$5,923,378$1,582,443▲ $489,243$767,272$6,835,020
2016$6,358,143$274,037▲ $263,573$589,927$5,923,378
2015$8,202,758$210,169▲ $19,541$799,113$6,358,143
Compensation and Service Providers
Top Officer Pay97th percentile

Board Members and Trustees

NameTitle
Alex RankinChair
Michael MarsicanoVice President
Bailey PatrickMember
Bill AllenMember
Christine LiMember
Dana ManessMember
Dehler HartMember
Jamie MclawhornMember
Jennifer DewittMember
Jim LawtonMember
John CollettMember
Keith a SmithMember
Kelly KatterhagenMember
Lat PurserMember
Leslie JohnsonMember
Marshall RogersMember
Michael GoodmanMember
Sally DaleyMember
Sherri GregoryMember
Shuford AbernethyMember
Tim BelkMember
Tom WebbMember

Highest Paid Contractors

ContractorServicesLocationCompensation
Catawba Lands ConservancyProject Management4530 PARK ROAD, Charlotte, NC 28209$545,345
Revenue and Support

Revenue Composition

Contributions and Grants
$1,096,981
Program Service Revenue
$0
Investment Income
$12,554
Other Revenue
$0
All Other Contributions
$619,153
Change in Net Assets
$-197,203

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded3$142,653Fair Market Value (FMV)
Total Noncash Contributions3$142,653-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$685,500
Other Expenses$621,238
Total Fundraising Expense$2,520
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$685,500--$685,500
Fees for Services Other$569,463$28,318$1,801$599,582
Fees for Service Investment Mgmnt Fees$8,963$10,524$669$20,156
Fees for Services Accounting$667$783$50$1,500
Total Functional Expenses$1,264,593$39,625$2,520$1,306,738
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of SalisburySalisbury, NC170(c)(1)Trail Development$227,000
Town of CramertonCramerton, NC170(c)(1)Trail Development$181,000
City of ConcordConcord, NC170(c)(1)Trail Development$120,000
Cornelius Parks Arts Recreation & CultureCornelius, NC170(c)(1)Trail Development$100,000
City of Mount HollyMount Holly, NC170(c)(1)Trail Development$50,000
City of LincolntonLincolnton, NC170(c)(1)Trail Development$5,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

“The right to appoint a majority of the board of directors is vested exclusively in foundation for the carolinas.”

Form 990, Part VI, Section B, Line 11B

“A copy of the final form 990, excluding schedule b, was distributed to each voting member of the board prior to filing. The return is available for discussion at the next board meeting closest to the filing date. The board believes that the privacy of the thread trail's donors warrants the redaction of schedule b.”

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

“Board members annually complete a conflict of interest form in compliance with national standards for community foundations and under foundation for the carolinas (supported foundation) ethics policy. Staff collects and maintains the forms annually, and monitors the process.”

Form 990, Part VI, Section B, Line 15

“The carolina thread trail has no formal employees and therefore does not have a formal process in place for determining compensation. Foundation for the carolinas, the supported organization, does have policies and procedures in place for determining compensation, including utilitizing an independent compensation consultant and approval by the board of directors for executive compensation.”

Form 990, Part VI, Section C, Line 19

“Governing documents are maintained by the organization and are available upon request by the general public.”

Filing and Contact Details

Filer

Filer Name
Carolina Thread Trail
EIN
26-1528527
Phone
7049734500
Address
220 NORTH TRYON STREET, CHARLOTTE, NC 28202

Signing Officer

Name
Michael Marsicano
Title
Vice President
Phone
7049734500
Signed
2020-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Collier
Formed
2007
Legal Domicile
Nc
Voting Board Members
21
Independent Board Members
21
Employees
0
Volunteers
0

Preparer

Firm
Cherry Bekaert Llp
Address
1111 METROPOLITAN AVE STE 900, CHARLOTTE, NC 28204
Preparer
Amanda Adams
Phone
7043771678
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Administrative fees: program service expenses 24,118. Management and general expenses 28,318. Fundraising expenses 1,801. Total expenses 54,237. Project management fees: program service expenses 545,345. Management and general expenses 0. Fundraising expenses 0. Total expenses 545,345.”

FORM 990, PART XI, LINE 9:

“Grant refunds from domestic organizations 31,299. Write off uncollectible pledges receivable -59,164.”

Financial Statement Notes

PART X, LINE 2:

“The foundation (foundation for the carolinas) and its supporting foundations are exempt from federal income tax under the provisions of section 501(c)(3) of the irc. In accordance with irc regulations, the foundation is taxed on unrelated business income, which consists of earnings from activities not related to the exempt purpose of the foundation. The foundation accounts for tax uncertainties based on a more likely than not recognition threshold whereby tax benefits are only recognized when the foundation believes that they have a greater than 50% likelihood of being sustained upon examination by taxing authorities. The foundation has evaluated all its tax positions and determined that it had no uncertain tax positions as of december 31, 2019 or 2018.”

Raw XML AppendixShowing 400 of 669 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/AllOtherContributionsAmt0619153
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd00
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IRS990/BooksInCareOfDetail/PhoneNum07049734500
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IRS990/ContractorCompensationGrp/ServicesDesc0PROJECT MANAGEMENT
IRS990/CreditCounselingInd00
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IRS990/Desc0ENVIRONMENT: THE CAROLINA THREAD TRAIL IS DEVELOPING A REGIONAL NETWORK OF GREENWAYS, TRAILS AND BLUEWAYS THAT SPAN 15 COUNTIES, 2 STATES AND 2.9 MILLION PEOPLE. THERE ARE OVER 260 MILES OF TRAILS AND 170 MILES OF BLUEWAY OPEN TO THE PUBLIC THAT LINK PEOPLE, PLACES, CITIES, TOWNS AND ATTRACTIONS. THE THREAD TRAIL PRESERVES OUR NATURAL AREAS AND IS A PLACE FOR EXPLORATION OF NATURE, CULTURE, SCIENCE AND HISTORY. THIS IS A LANDMARK PROJECT THAT PROVIDES PUBLIC AND COMMUNITY BENEFITS FOR EVERYONE, IN EVERY COMMUNITY. DURING 2019, THE ORGANIZATION DISBURSED GRANTS TO VARIOUS ORGANIZATIONS AND ENGAGED CATAWBA LANDS CONSERVANCY TO ASSIST IN PLANNING AND DEVELOPMENT OF GREENWAYS, TRAILS AND ENVIRONMENTAL PROTECTION.
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IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21VICE PRESIDENT
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,554,153
Liabilities
$0
Net assets
$6,554,153
Revenue
$1,109,535
Expenses
$1,306,738
Net income
-$197,203
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.34$9.81$9.47
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.60$0.00$9.60$2.82$1.32$1.50
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.66$0.00$7.66$1.86$1.19$0.68
2019Detailed filing. Detailed filing data is available for this year.$6.55$0.00$6.55$1.11$1.31$0.20