Civic Intelligence

2Xsalt Inc.

990 • Fiscal year 2020 • EIN 43-2023021

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization Profilewww.2XSALT.org
6030 Abbey WayMonroe, NC 28110

(704) 393-3939

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.00x

Higher debt load relative to assets than 22% of similar nonprofits.

2020 filings • NTEE N • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

23rd percentile

0.02x

Higher debt load relative to revenue than 23% of similar nonprofits.

2020 filings • NTEE N • $1M-$5M nonprofits • Source year 2020

Net Margin

13th percentile

-27%

Higher net margin than 13% of similar nonprofits.

2020 filings • NTEE N • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

71st percentile

$72,000

Higher top officer pay than 71% of similar nonprofits.

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

2020 filings • NTEE N • $1M-$5M nonprofits • Source year 2020

Asset Growth

25th percentile

-3.7%

Faster asset growth than 25% of similar nonprofits.

2020 filings • NTEE N • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

100th percentile

2657%

Faster revenue growth than 100% of similar nonprofits.

2020 filings • NTEE N • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Down

$2,348,543

Down $89,737 (-3.7%) from 2019

Net Assets

Down

$2,340,470

Down $97,810 (-4.0%) from 2019

Liabilities

Up

$8,073

Up $8,073 from 2019

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin13th percentile

Revenue

Up

$367,567

Up $354,236 (+2657%) from 2019

Expenses

Up

$465,377

Up $202,461 (+77%) from 2019

Net Income

Up

-$97,810

Up $151,775 (+61%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth25th 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

2020

Assets$2,348,543
Liabilities$8,073
Net Assets$2,340,470
Open 2020 Filing

Operations Trend

Revenue Growth100th 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

2020

Revenue$367,567
Expenses$465,377
Net Income-$97,810
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$367,567
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.

2xSalt, Inc is a non profit that mentors and facilitates job skill training through the culinary arts, beverage service, hospitality service, catering and community outreach. We strive to create employment opportunity and volunteer opportunity for the unemployed and under-employed.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$2,438,280$2,340,470▼ $97,810
Land, Buildings, and Equipment, Net-$717,535-
Savings and Temporary Cash Investments$859,436$689,593▼ $169,843
Cash and Non-Interest-Bearing Accounts$88,664$85,166▼ $3,498
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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,438,280$2,348,543▼ $89,737
Other Assets Total$1,490,180$856,249▼ $633,931
Liabilities
Other Liabilities-$8,073-
Total Liabilities$0$8,073▲ $8,073
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,438,280$2,340,470▼ $97,810
Total Liabilities and Net Assets / Fund Balance$2,438,280$2,348,543▼ $89,737

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$717,535-$717,535
Other Land Buildings-$72,469$72,469
Equipment-$18,000$18,000
Other Assets Org$856,249--
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$344,285
Investment Income
$0
Other Revenue
$23,282
Change in Net Assets
$-97,810
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$331,336
Salaries, Compensation, and Employee Benefits$134,041
Total Fundraising Expense$7,732
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$54,000$14,400$3,600$72,000
Other Salaries and Wages$36,694$9,785$2,446$48,925
All Other Expenses$36,887$9,297-$46,184
Fees for Services Other$15,332$4,863$1,031$21,226
Insurance$13,943$4,648-$18,591
Other Expenses$14,275--$14,275
Payroll Taxes$6,962$1,857$464$9,283
Fees for Services Accounting$2,763$2,763-$5,526
Other Employee Benefits$2,875$767$191$3,833
Advertising-$2,434-$2,434
Travel$549$183-$732
Total Functional Expenses$406,648$50,997$7,732$465,377
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card Payable$8,073
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 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
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

Filer Name
2XSalt Inc
EIN
43-2023021
Phone
7043933939
Address
6030 Abbey Way, Monroe, NC 28110

Signing Officer

Name
Bart Kofoed
Title
President
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bart Kofoed
Formed
2003
Legal Domicile
Nc
Voting Board Members
1
Independent Board Members
0
Employees
3
Volunteers
20

Preparer

Firm
C DeWitt Foard & Co PA CPAs
Address
817 E Morehead Street Ste 100, Charlotte, NC 28202
Preparer
Terry W Lancaster
Phone
7043721515
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt049451
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0115456
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0166584
IRS990ScheduleA/TotalSupportAmt0179395
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0717535
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0717535
IRS990ScheduleD/EquipmentGrp/DepreciationAmt018000
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt018000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0856249
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Construction in Progress
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Real Estate (Not Yet in Service)
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt072469
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt072469
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08073
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Credit Card Payable
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0717535
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0856249
IRS990ScheduleD/TotalLiabilityAmt08073
IRS990/ScheduleJRequiredInd0false
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02438280
IRS990/TotalAssetsEOYAmt02348543
IRS990/TotalAssetsGrp/BOYAmt02438280
IRS990/TotalAssetsGrp/EOYAmt02348543
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt07732
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt050997
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0406648
IRS990/TotalFunctionalExpensesGrp/TotalAmt0465377
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt08073
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt08073
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02438280
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02340470
IRS990/TotalProgramServiceExpensesAmt0406648
IRS990/TotalProgramServiceRevenueAmt0344285
IRS990/TotalReportableCompFromOrgAmt072000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0367567
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0367567
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02438280
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02348543
IRS990/TravelGrp/ManagementAndGeneralAmt0183
IRS990/TravelGrp/ProgramServicesAmt0549
IRS990/TravelGrp/TotalAmt0732
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt06030 Abbey Way
IRS990/USAddress/CityNm0Monroe
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028110
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0www.2XSALT.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Bart Kofoed
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt02XSalt Inc
ReturnHeader/Filer/BusinessNameControlTxt02XSA
ReturnHeader/Filer/EIN0432023021
ReturnHeader/Filer/PhoneNum07043933939
ReturnHeader/Filer/USAddress/AddressLine1Txt06030 Abbey Way
ReturnHeader/Filer/USAddress/CityNm0Monroe
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028110
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561688300
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0C DeWitt Foard & Co PA CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0817 E Morehead Street Ste 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Charlotte
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028202
ReturnHeader/PreparerPersonGrp/PhoneNum07043721515
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Terry W Lancaster
ReturnHeader/ReturnTs02021-11-15T09:58:30-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Bart
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Kofoed
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
$2,348,543
Liabilities
$8,073
Net assets
$2,340,470
Revenue
$367,567
Expenses
$465,377
Net income
-$97,810
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