Civic Intelligence

Center for Creative Economy

990 • Fiscal year 2018 • EIN 27-5003133

Jul 01, 2017 to Jun 30, 2018 • Filed on Dec 19, 2018

5212 Cedarwood Creek DriveWinstonsalem, NC 27104

(336) 580-1037

Siviq Scores

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

Liabilities / Assets

37th percentile

0.00x

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

2018 filings • NTEE S30 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

36th percentile

0.00x

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

2018 filings • NTEE S30 • <$500k nonprofits • Source year 2018

Net Margin

66th percentile

8.6%

Higher net margin than 66% of similar nonprofits.

2018 filings • NTEE S30 • <$500k nonprofits • Source year 2018

Top Officer Pay

90th percentile

$76,741

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 33.2% of source-year revenue.

2018 filings • NTEE S30 • <$500k nonprofits • Source year 2018

Asset Growth

79th percentile

25%

Faster asset growth than 79% of similar nonprofits.

2018 filings • NTEE S30 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

48th percentile

-1.5%

Faster revenue growth than 48% of similar nonprofits.

2018 filings • NTEE S30 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Up

$98,837

Up $19,818 (+25%) from 2017

Net Assets

Up

$98,837

Up $19,818 (+25%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue

Down

$231,394

Down $3,626 (-1.5%) from 2017

Expenses

Up

$211,576

Up $16,709 (+8.6%) from 2017

Net Income

Down

$19,818

Down $20,335 (-51%) from 2017

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2017: $79,019Liabilities 2017: $0Net Assets 2017: $79,0192017Assets 2018: $98,837Liabilities 2018: $0Net Assets 2018: $98,8372018Assets 2019: $105,687Liabilities 2019: $0Net Assets 2019: $105,6872019Assets 2020: $114,308Liabilities 2020: $4,078Net Assets 2020: $110,2302020Assets 2021: $233,130Liabilities 2021: $88,700Net Assets 2021: $144,4302021Assets 2022: $203,616Liabilities 2022: $88,700Net Assets 2022: $114,9162022Assets 2023: $146,370Liabilities 2023: $87,634Net Assets 2023: $58,7362023Assets 2024: $103,931Liabilities 2024: $87,939Net Assets 2024: $15,9922024Assets 2025: $98,899Liabilities 2025: $82,671Net Assets 2025: $16,2282025

Highlighted filing

2018

Assets$98,837
Liabilities$0
Net Assets$98,837

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2017: $235,020Expenses 2017: $194,867Net Income 2017: $40,1532017Revenue 2018: $231,394Expenses 2018: $211,576Net Income 2018: $19,8182018Revenue 2019: $249,790Expenses 2019: $242,940Net Income 2019: $6,8502019Revenue 2020: $258,521Expenses 2020: $253,978Net Income 2020: $4,5432020Revenue 2021: $289,523Expenses 2021: $255,323Net Income 2021: $34,2002021Revenue 2022: $249,947Expenses 2022: $279,461Net Income 2022: -$29,5142022Revenue 2023: $255,848Expenses 2023: $312,028Net Income 2023: -$56,1802023Revenue 2024: $391,469Expenses 2024: $432,926Net Income 2024: -$41,4572024Revenue 2025: $388,983Expenses 2025: $388,747Net Income 2025: $2362025

Highlighted filing

2018

Revenue$231,394
Expenses$211,576
Net Income$19,818
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Dec 19, 2018
Return Version
2017v2.3
Gross Receipts
$231,394
Mission and Program Overview

Mission

To launch, grow, and accelerate creative entrepreneurs and business owners. Our vision for the community: - creatives will seek out and set up businesses in winston-salem - the city is known as an ideal place for creatives to both learn artistic skills and set up creative enterprises - winston-salem is an important hub and market for creative business. Our vision for center for creative economy: -to be known as a premier economic development organization that is building the creative economy and creative community in winston-salem, the triad, north carolina, and the southeast region.

To launch, grow, and accelerate creative entrepreneurs and business owners. Our vision for center for creative economy is to be known as a premier economic development organization that is building the creative economy and creative community in winston-salem, the triad, north carolina, and the southeast region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$50,000$63,023▲ $13,023
Cash and Non-Interest-Bearing Accounts$29,019$35,814▲ $6,795
Total Assets$79,019$98,837▲ $19,818
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$71,212$98,837▲ $27,625
Temporarily Rstr Net Assets$7,807$0▼ $7,807
Total Net Assets Fund Balance$79,019$98,837▲ $19,818
Total Liabilities and Net Assets / Fund Balance$79,019$98,837▲ $19,818
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Margaret CollinsExecutive DirectorFT$70,327$6,414$76,741

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$37,411
Program Service Revenue
$193,206
Investment Income
$777
Other Revenue
$0
All Other Contributions
$37,411
Change in Net Assets
$19,818
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$122,673
Other Expenses$88,903
Total Fundraising Expense$3,302
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$63,205$12,811$2,990$79,006
Other Salaries and Wages$33,475$10,192-$43,667
Occupancy$1,563$3,031-$4,594
Fees for Services Other-$2,500-$2,500
Office Expenses$1,756$585$23$2,364
Travel$549$1,498$138$2,185
Other Expenses$301$1,054$151$1,506
Insurance$759$506-$1,265
Advertising$682$227-$909
Total Functional Expenses$174,214$34,060$3,302$211,576
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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
No
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 8B

There are no committees with authority to act on behalf of the board.

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

Form 990 is reviewed by the treasurer and executive director before it is filed. The board as a whole does not review the 990 before filing.

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

Directors sign a written form when they join the board.

Form 990, Part VI, Section B, Line 15B

Board votes on and approves budget annually, which includes annual compensation amount for the executive director.

Form 990, Part VI, Section C, Line 19

The organization files governing documents, program descriptions and financial information with the north carolina department of the secretary of state on an annual basis. All of the aforementioned information can be accessed by the public at the nc secretary of state website.

Filing and Contact Details

Filer

Filer Name
Center for Creative Economy
EIN
27-5003133
Phone
3365801037
Address
5212 CEDARWOOD CREEK DRIVE, WINSTONSALEM, NC 27104

Signing Officer

Name
Steven Bagley
Title
Treasurer
Phone
3363147919
Signed
2018-12-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Margaret Collins
Formed
2011
Legal Domicile
Nc
Voting Board Members
15
Independent Board Members
14
Employees
4
Volunteers
25

Preparer

Firm
Butler Burke Llp
Address
100 CLUB OAKS COURT, WINSTONSALEM, NC 27104
Preparer
Jane R Potter
Phone
3367682310
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0193206
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0193206
IRS990/ProgSrvcAccomActy2Grp/Desc0SWERVE - 2017-2018 MARKED THE THIRD CONSECUTIVE YEAR FOR SWERVE, THE HUB FOR CREATIVES IN WINSTON-SALEM AND THE TRIAD. THE PROGRAM IS ORGANIZED WITH 10 EVENTS PER YEAR WITH SPEAKERS DEDICATED TO HELPING CREATIVES GROW THEIR BUSINESSES. THE PROGRAM IS MEMBERSHIP FEE BASED WHICH INCLUDES THE EVENTS WITH LUNCH OR AN EVENING RECEPTION. MEMBERS ALSO RECEIVE A LISTING IN THE SWERVE DIRECTORY, AND ACCESS TO THE JOB PLATFORM FOCUSED ON CREATIVE JOB OPPORTUNITIES IN THE TRIAD, AND ACROSS NC.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt033233
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt05758
IRS990/ProgSrvcAccomActy3Grp/Desc0ARTS ENTERPRISE LAB - CCE CO-FACILITATES THE ARTS ENTERPRISE LAB WITH THE KENAN INSTITUTE FOR THE ARTS. THE LAB IS FOR ARTISTS AND CREATIVES WITH IDEAS THEY MAY WANT TO GROW INTO A BUSINESS. THEY RECEIVE 8 WEEKS OF EARLY STAGE ENTREPRENEURSHIP TRAINING, AND LEARN HOW TO ARTICULATE THEIR WHY, MISSION AND VALUE. THE PARTICIPANTS WORK ON DEFINING THEIR CUSTOMER BASE AND DETERMINING IF THE PRODUCT OR SERVICE IS READY FOR THE MARKET. AT THE END OF 8 WEEKS, THEY RECEIVE $1,000 FROM THE KENAN INSTITUTE TO INVEST IN DEVELOPING THEIR BUSINESSES FURTHER. A SECOND STAGE OF THE LAB IS HELD FOUR MONTHS LATER FOR SIX ADDITIONAL WEEKS. THERE THE CREATIVES WORK MORE ON DEFINING THEIR STORY OR MESSAGE TO DELIVER TO CUSTOMERS WHEN GOING TO MARKET.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt00
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt015000
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0202069
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt090083
IRS990/PYOtherRevenueAmt0-77
IRS990/PYProgramServiceRevenueAmt033028
IRS990/PYRevenuesLessExpensesAmt040153
IRS990/PYSalariesCompEmpBnftPaidAmt0104784
IRS990/PYTotalExpensesAmt0194867
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0235020
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt019818
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0172448
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt037411
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0202069
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0100935
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt035610
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt022500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0398525
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0777
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0777
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0352904
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt03225
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt02520
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt02656
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt03579
IRS990ScheduleA/OtherIncome170Grp/TotalAmt011980
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.88740
IRS990ScheduleA/PublicSupportPY170Pct00.88270
IRS990ScheduleA/PublicSupportTotal170Amt0364959
IRS990ScheduleA/SubstantialContributorsTotAmt033566
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt037411
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0202069
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0100935
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt035610
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt022500
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0398525
IRS990ScheduleA/TotalSupportAmt0411282
IRS990/ScheduleBRequiredInd01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE TREASURER AND EXECUTIVE DIRECTOR BEFORE IT IS FILED. THE BOARD AS A WHOLE DOES NOT REVIEW THE 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS SIGN A WRITTEN FORM WHEN THEY JOIN THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD VOTES ON AND APPROVES BUDGET ANNUALLY, WHICH INCLUDES ANNUAL COMPENSATION AMOUNT FOR THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION FILES GOVERNING DOCUMENTS, PROGRAM DESCRIPTIONS AND FINANCIAL INFORMATION WITH THE NORTH CAROLINA DEPARTMENT OF THE SECRETARY OF STATE ON AN ANNUAL BASIS. ALL OF THE AFOREMENTIONED INFORMATION CAN BE ACCESSED BY THE PUBLIC AT THE NC SECRETARY OF STATE WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt07807
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt079019
IRS990/TotalAssetsEOYAmt098837
IRS990/TotalAssetsGrp/BOYAmt079019
IRS990/TotalAssetsGrp/EOYAmt098837
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt037411
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03302
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt034060
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0174214
IRS990/TotalFunctionalExpensesGrp/TotalAmt0211576
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt079019
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt098837
IRS990/TotalOtherCompensationAmt06414
IRS990/TotalProgramServiceExpensesAmt0174214
IRS990/TotalProgramServiceRevenueAmt0193206
IRS990/TotalReportableCompFromOrgAmt070327
IRS990/TotalRevenueGrp/ExclusionAmt0777
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0193206
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0231394
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt079019
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt098837
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt0138
IRS990/TravelGrp/ManagementAndGeneralAmt01498
IRS990/TravelGrp/ProgramServicesAmt0549
IRS990/TravelGrp/TotalAmt02185
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt071212
IRS990/UnrestrictedNetAssetsGrp/EOYAmt098837
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05212 CEDARWOOD CREEK DRIVE
IRS990/USAddress/CityNm0WINSTONSALEM
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027104
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0CENTERFORCREATIVEECONOMY.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0STEVEN BAGLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03363147919

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