Civic Intelligence

2Xsalt Inc.

990 • Fiscal year 2013 • EIN 43-2023021

Jan 01, 2013 to Dec 31, 2013 • Filed on Jan 17, 2014

Organization ProfileWWW.2XSALT.ORG
1900 Queen City Drive28208

(704) 393-3939

Siviq Scores

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

Liabilities / Assets

40th percentile

0.11x

Higher debt load relative to assets than 40% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Liabilities / Revenue

85th percentile

1.64x

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

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Net Margin

11th percentile

-22%

Higher net margin than 11% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Top Officer Pay

33rd percentile

$72,000

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 19.6% of source-year revenue.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Asset Growth

32nd percentile

-1.5%

Faster asset growth than 32% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2012 to 2013

Revenue Growth

4th percentile

-44%

Faster revenue growth than 4% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2011 to 2013

Balance Sheet
Liabilities / Assets40th percentile

Assets

Down

$5,266,255

Down $81,106 (-1.5%) from 2012

Net Assets

Down

$4,666,255

Down $81,106 (-1.7%) from 2012

Liabilities

Flat

$600,000

Flat from 2012

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin11th percentile

Revenue

$366,781

No earlier filing loaded for comparison.

Expenses

Down

$447,887

Down $122,229 (-21%) from 2012

Net Income

-$81,106

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $5,963,114Liabilities 2010: $1,800,000Net Assets 2010: $4,163,1142010Assets 2011: $5,314,781Liabilities 2011: $600,000Net Assets 2011: $4,714,7812011Assets 2012: $5,347,361Liabilities 2012: $600,000Net Assets 2012: $4,747,3612012Assets 2013: $5,266,255Liabilities 2013: $600,000Net Assets 2013: $4,666,2552013Assets 2014: $5,122,502Liabilities 2014: $600,000Net Assets 2014: $4,522,5022014Assets 2015: $5,202,364Liabilities 2015: $300,000Net Assets 2015: $4,902,3642015Assets 2016: $4,960,875Liabilities 2016: $300,000Net Assets 2016: $4,660,8752016Assets 2017: $3,114,441Liabilities 2017: $0Net Assets 2017: $3,114,4412017Assets 2018: $2,845,970Liabilities 2018: $0Net Assets 2018: $2,845,9702018Assets 2019: $2,438,280Liabilities 2019: $0Net Assets 2019: $2,438,2802019Assets 2020: $2,348,543Liabilities 2020: $8,073Net Assets 2020: $2,340,4702020Assets 2021: $2,267,833Liabilities 2021: $5,834Net Assets 2021: $2,261,9992021Assets 2022: $2,517,232Liabilities 2022: $6,100Net Assets 2022: $2,511,1322022Assets 2023: $2,320,925Liabilities 2023: $1,013Net Assets 2023: $2,319,9122023Assets 2024: $2,312,721Liabilities 2024: $2,890Net Assets 2024: $2,309,8312024

Highlighted filing

2013

Assets$5,266,255
Liabilities$600,000
Net Assets$4,666,255
Open 2013 Filing

Operations Trend

Revenue Growth4th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2010: $827,817Expenses 2010: $569,946Net Income 2010: $257,8712010Revenue 2011: $1,160,266Expenses 2011: $608,599Net Income 2011: $551,6672011Expenses 2012: $570,1162012Revenue 2013: $366,781Expenses 2013: $447,887Net Income 2013: -$81,1062013Revenue 2014: $296,581Expenses 2014: $440,334Net Income 2014: -$143,7532014Revenue 2015: $791,821Expenses 2015: $411,959Net Income 2015: $379,8622015Revenue 2016: $116,282Expenses 2016: $357,771Net Income 2016: -$241,4892016Revenue 2017: -$1,239,963Expenses 2017: $306,471Net Income 2017: -$1,546,4342017Revenue 2018: $7,985Expenses 2018: $276,456Net Income 2018: -$268,4712018Revenue 2019: $13,331Expenses 2019: $262,916Net Income 2019: -$249,5852019Revenue 2020: $367,567Expenses 2020: $465,377Net Income 2020: -$97,8102020Revenue 2021: $631,783Expenses 2021: $710,254Net Income 2021: -$78,4712021Revenue 2022: $790,585Expenses 2022: $769,299Net Income 2022: $21,2862022Revenue 2023: $684,636Expenses 2023: $934,656Net Income 2023: -$250,0202023Revenue 2024: $483,857Expenses 2024: $560,557Net Income 2024: -$76,7002024

Highlighted filing

2013

Revenue$366,781
Expenses$447,887
Net Income-$81,106
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jan 17, 2014
Return Version
2013v3.1
Gross Receipts
$376,772
Mission and Program Overview

Mission

2XSalt strives to combat juvenile delinquency by cultivating Christian character in the youth community through leadership, education, and athletic training that is founded on Christ-centered principles.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,247,444$5,161,088▼ $86,356
Cap Stk Tr Prin Current Funds$4,747,361$4,666,255▼ $81,106
Loans From Officers Directors$600,000$600,000→ $0
Cash and Non-Interest-Bearing Accounts$17,055$97,151▲ $80,096
Intangible Assets$6,861$5,915▼ $946
Savings and Temporary Cash Investments$76,001$2,101▼ $73,900
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$5,347,361$5,266,255▼ $81,106
Other Assets Total-$0-
Liabilities
Total Liabilities$600,000$600,000→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,747,361$4,666,255▼ $81,106
Total Liabilities and Net Assets / Fund Balance$5,347,361$5,266,255▼ $81,106

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,836,418-$2,836,418
Buildings$2,248,685$268,434$2,517,119
Other Land Buildings$64,464$128,532$192,996
Equipment$11,521$11,947$23,468
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Bart KofoedPresidentFT$72,000$72,000
Revenue and Support

Revenue Composition

Contributions and Grants
$350,184
Program Service Revenue
$0
Investment Income
$281
Other Revenue
$16,316
All Other Contributions
$350,184
Change in Net Assets
$-81,106
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$293,824
Salaries, Compensation, and Employee Benefits$154,063
Total Fundraising Expense$24,293
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$90,766$2,836$1,891$95,493
Current Officers, Directors, Trustees, and Key Employees$54,000$9,000$9,000$72,000
Other Salaries and Wages$33,180$4,950$2,390$40,520
All Other Expenses$32,578$4,353$3,086$40,017
Other Employee Benefits$24,376$3,750$3,125$31,251
Interest$24,000--$24,000
Other Expenses$15,527$3,243$533$18,770
Payroll Taxes$8,028$1,235$1,029$10,292
Fees for Services Accounting$1,148$1,147-$2,295
Information Technology$800$57$286$1,143
Fees for Services Other$818$126$105$1,049
Total Functional Expenses$386,424$37,170$24,293$447,887
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$11,200
Fundraising Direct Expenses$9,991
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$600,000$600,000→ $0
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Draft of Form 990 was reviewed by Board Members.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Available upon request.”

Filing and Contact Details

Filer

EIN
43-2023021
Phone
7043933939

Signing Officer

Name
Bart Kofoed
Title
President
Signed
2014-01-17
Discuss with paid preparer
Yes

Organization Details

Formed
2003
Legal Domicile
Nc
Voting Board Members
3
Independent Board Members
0
Employees
4
Volunteers
500

Preparer

Preparer
William F Clark
Phone
7043768415
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0531
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0151
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt016316
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt019226
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt050725
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt050553
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt018971
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0155791
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.53820
IRS990ScheduleA/PublicSupportPY170Pct00.39140
IRS990ScheduleA/PublicSupportTotal170Amt02083213
IRS990ScheduleA/SubstantialContributorsTotAmt01475829
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0350184
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0574310
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0941814
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0760300
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0932434
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03559042
IRS990ScheduleA/TotalSupportAmt03870613
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus2YearsAmt0155619
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus4YearsAmt010
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt0155629
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt02248685
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0268434
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02517119
IRS990ScheduleD/EquipmentGrp/BookValueAmt011521
IRS990ScheduleD/EquipmentGrp/DepreciationAmt011947
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt023468
IRS990ScheduleD/LandGrp/BookValueAmt02836418
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02836418
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt064464
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0128532
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0192996
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05161088
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0600000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0To refinance existing bank mortgage.
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt01800000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Charles H Cotros
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt0600000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Draft of Form 990 was reviewed by Board Members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05347361
IRS990/TotalAssetsEOYAmt05266255
IRS990/TotalAssetsGrp/BOYAmt05347361
IRS990/TotalAssetsGrp/EOYAmt05266255
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0350184
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt024293
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt037170
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0386424
IRS990/TotalFunctionalExpensesGrp/TotalAmt0447887
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0600000
IRS990/TotalLiabilitiesEOYAmt0600000
IRS990/TotalLiabilitiesGrp/BOYAmt0600000
IRS990/TotalLiabilitiesGrp/EOYAmt0600000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04747361
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04666255
IRS990/TotalProgramServiceExpensesAmt0386424
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt072000
IRS990/TotalRevenueGrp/ExclusionAmt016597
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0366781
IRS990/TotalVolunteersCnt0500
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05347361
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05266255
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.2XSALT.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BART KOFOED
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-01-17
ReturnHeader/Filer/BusinessName/BusinessNameLine102XSalt Inc
ReturnHeader/Filer/BusinessNameControlTxt02XSA
ReturnHeader/Filer/EIN0432023021
ReturnHeader/Filer/PhoneNum07043933939
ReturnHeader/Filer/USAddress/AddressLine101900 Queen City Drive
ReturnHeader/Filer/USAddress/City0Charlotte
ReturnHeader/Filer/USAddress/State0NC
ReturnHeader/Filer/USAddress/ZIPCode028208
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10MILLER MCNEISH & BREEDLOVE PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10309 S Laurel Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Charlotte
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode028207
ReturnHeader/PreparerPersonGrp/PhoneNum07043768415
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0William F Clark

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,266,255
Liabilities
$600,000
Net assets
$4,666,255
Revenue
$366,781
Expenses
$447,887
Net income
-$81,106
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.31$0.00$2.31$0.48$0.56$0.08
2023Detailed filing. Detailed filing data is available for this year.$2.32$0.00$2.32$0.68$0.93$0.25
2022Detailed filing. Detailed filing data is available for this year.$2.52$0.01$2.51$0.79$0.77$0.02
2021Detailed filing. Detailed filing data is available for this year.$2.27$0.01$2.26$0.63$0.71$0.08
2020Detailed filing. Detailed filing data is available for this year.$2.35$0.01$2.34$0.37$0.47$0.10
2019Detailed filing. Detailed filing data is available for this year.$2.44$0.00$2.44$0.01$0.26$0.25
2018Detailed filing. Detailed filing data is available for this year.$2.85$0.00$2.85$0.01$0.28$0.27
2017Detailed filing. Detailed filing data is available for this year.$3.11$0.00$3.11$1.24$0.31$1.55
2016Detailed filing. Detailed filing data is available for this year.$4.96$0.30$4.66$0.12$0.36$0.24
2015Detailed filing. Detailed filing data is available for this year.$5.20$0.30$4.90$0.79$0.41$0.38
2014Detailed filing. Detailed filing data is available for this year.$5.12$0.60$4.52$0.30$0.44$0.14
2013Detailed filing. Detailed filing data is available for this year.$5.27$0.60$4.67$0.37$0.45$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.35$0.60$4.75$0.57
2011Summary only. Only limited summary data is available for this year.$5.31$0.60$4.71$1.16$0.61$0.55
2010Summary only. Only limited summary data is available for this year.$5.96$1.80$4.16$0.83$0.57$0.26