Civic Intelligence

Salem Inc.

990 • Fiscal year 2020 • EIN 41-1782105

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 19, 2022

Organization Profile
8930 Stratford CrossingBrooklyn Park, MN 55443

(612) 801-1048

Siviq Scores

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

Liabilities / Assets

85th percentile

0.64x

Higher debt load relative to assets than 85% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

93rd percentile

3.04x

Higher debt load relative to revenue than 93% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

52nd percentile

6.4%

Higher net margin than 52% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

42nd percentile

$30,000

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 11.9% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

98th percentile

309%

Faster asset growth than 98% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

17th percentile

-28%

Faster revenue growth than 17% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$1,200,236

Up $906,846 (+309%) from 2019

Net Assets

Up

$434,173

Up $207,372 (+91%) from 2019

Liabilities

Up

$766,063

Up $699,474 (+1050%) from 2019

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin52nd percentile

Revenue

Down

$251,766

Down $98,753 (-28%) from 2019

Expenses

Down

$235,538

Down $54,809 (-19%) from 2019

Net Income

Down

$16,228

Down $43,944 (-73%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2018: $55,833Liabilities 2018: $02018Assets 2019: $293,390Liabilities 2019: $66,589Net Assets 2019: $226,8012019Assets 2020: $1,200,236Liabilities 2020: $766,063Net Assets 2020: $434,1732020Assets 2021: $658,362Liabilities 2021: $438,054Net Assets 2021: $220,3082021Assets 2022: $1,880,578Liabilities 2022: $1,149,649Net Assets 2022: $730,9292022Assets 2023: $1,904,541Liabilities 2023: $812,041Net Assets 2023: $1,092,5002023Assets 2024: $1,879,528Liabilities 2024: $733,123Net Assets 2024: $1,146,4052024

Highlighted filing

2020

Assets$1,200,236
Liabilities$766,063
Net Assets$434,173
Open 2020 Filing

Operations Trend

Revenue Growth17th percentile

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

$3.0M$2.0M$1.0M$0Revenue 2018: $361,319Expenses 2018: $305,486Net Income 2018: $55,8332018Revenue 2019: $350,519Expenses 2019: $290,347Net Income 2019: $60,1722019Revenue 2020: $251,766Expenses 2020: $235,538Net Income 2020: $16,2282020Revenue 2021: $306,201Expenses 2021: $221,981Net Income 2021: $84,2202021Revenue 2022: $521,447Expenses 2022: $461,911Net Income 2022: $59,5362022Revenue 2023: $840,599Expenses 2023: $766,069Net Income 2023: $74,5302023Revenue 2024: $2,467,969Expenses 2024: $2,370,986Net Income 2024: $96,9832024

Highlighted filing

2020

Revenue$251,766
Expenses$235,538
Net Income$16,228
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 19, 2022
Return Version
2020v4.0
Gross Receipts
$251,766
Mission and Program Overview

Mission

Committed to creating decent housing in the Twin Cities area and create jobs to strengthen the community.

Create opportunities and consumerism thru the construction industry

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$259,048$1,183,169▲ $924,121
Cash and Non-Interest-Bearing Accounts$34,342$17,067▼ $17,275
Total Assets$293,390$1,200,236▲ $906,846
Liabilities
Mortgage Notes Payable Secured by Investment Property-$701,459-
Accounts Payable and Accrued Expenses$66,589$64,604▼ $1,985
Total Liabilities$66,589$766,063▲ $699,474
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$226,801$434,173▲ $207,372
Total Net Assets Fund Balance$226,801$434,173▲ $207,372
Total Liabilities and Net Assets / Fund Balance$293,390$1,200,236▲ $906,846

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,183,169$60,196-
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Courtney McafeeBoard MemberFT$30,000$30,000
Kessa FordSecretaryPT$15,500$15,500
Jerry McafeePresidentPT$9,500$9,500
Revenue and Support

Revenue Composition

Contributions and Grants
$72,965
Program Service Revenue
$178,801
Investment Income
$0
Other Revenue
$0
All Other Contributions
$24,640
Change in Net Assets
$16,228
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$180,038
Salaries, Compensation, and Employee Benefits$55,500
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$106,148--$106,148
Current Officers, Directors, Trustees, and Key Employees-$55,500-$55,500
Interest-$28,760-$28,760
Depreciation Depletion-$15,049-$15,049
Occupancy-$9,985-$9,985
Fees for Services Legal-$5,561-$5,561
Fees for Services Management$4,325--$4,325
Travel-$4,119-$4,119
Conferences and Meetings-$2,967-$2,967
Information Technology-$2,357-$2,357
Fees for Services Accounting-$500-$500
Office Expenses-$267-$267
Total Functional Expenses$110,473$125,065$0$235,538
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
Audit committee
Yes
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 11B

“Schedule Board meeting is held to review and financials and return”

Part VI Line 11B

“for approval.”

Part VI Line 19

“No Document available to the public.”

Filing and Contact Details

Filer

Filer Name
Salem Inc
EIN
41-1782105
In Care Of
% Jerry McAfee
Phone
6128011048
Address
8930 Stratford Crossing, Brooklyn Park, MN 55443

Signing Officer

Name
Jerry Mcafee
Title
President
Phone
6128011048
Signed
2022-06-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry Mcafee
Formed
2009
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
9

Preparer

Firm
H & S Bookkeeping LLC
Address
7100 Medicine Lake Road, New Hope, MN 55427
Preparer
Holly Hollister Smith
Phone
7632314885
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ReturnHeader/BusinessOfficerGrp/PersonNm0JERRY MCAFEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum06128011048
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-06-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Salem Inc
ReturnHeader/Filer/BusinessNameControlTxt0SALE
ReturnHeader/Filer/EIN0411782105
ReturnHeader/Filer/InCareOfNm0% Jerry McAfee
ReturnHeader/Filer/PhoneNum06128011048
ReturnHeader/Filer/USAddress/AddressLine1Txt08930 Stratford Crossing
ReturnHeader/Filer/USAddress/CityNm0Brooklyn Park
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055443
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0465699310
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0H & S Bookkeeping LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07100 Medicine Lake Road
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0New Hope
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055427
ReturnHeader/PreparerPersonGrp/PhoneNum07632314885
ReturnHeader/PreparerPersonGrp/PreparationDt02022-06-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HOLLY HOLLISTER SMITH
ReturnHeader/ReturnTs02022-06-19T00:48:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JERRY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MCAFEE
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,200,236
Liabilities
$766,063
Net assets
$434,173
Revenue
$251,766
Expenses
$235,538
Net income
$16,228
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.88$0.73$1.15$2.47$2.37$0.10
2023Detailed filing. Detailed filing data is available for this year.$1.90$0.81$1.09$0.84$0.77$0.07
2022Detailed filing. Detailed filing data is available for this year.$1.88$1.15$0.73$0.52$0.46$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.66$0.44$0.22$0.31$0.22$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.20$0.77$0.43$0.25$0.24$0.02
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$0.07$0.23$0.35$0.29$0.06
2018Summary only. Only limited summary data is available for this year.$0.06$0.00$0.36$0.31$0.06