Civic Intelligence

Chatham Creative Arts Incubator Inc.

990 • Fiscal year 2013 • EIN 47-0862625

Jan 01, 2013 to Dec 31, 2013 • Filed on Jul 18, 2014

Organization ProfileWWW.NCARTSINCUBATOR.ORG
PO Box 643 223 North Chatham Avenue27344

(919) 663-1335

Siviq Scores

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

Liabilities / Assets

76th percentile

0.33x

Higher debt load relative to assets than 76% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Liabilities / Revenue

93rd percentile

1.91x

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

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Net Margin

14th percentile

-18%

Higher net margin than 14% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

3rd percentile

-48%

Faster asset growth than 3% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

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

Source year 2013

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$507,623

Down $463,490 (-48%) from 2012

Net Assets

Down

$337,995

Down $164,986 (-33%) from 2012

Liabilities

Down

$169,628

Down $298,504 (-64%) from 2012

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin14th percentile

Revenue

$89,029

No earlier filing loaded for comparison.

Expenses

Down

$105,429

Down $50,379 (-32%) from 2012

Net Income

-$16,400

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$1.5M$1.0M$500K$0Assets 2010: $1,082,841Liabilities 2010: $515,276Net Assets 2010: $567,5652010Assets 2011: $1,033,218Liabilities 2011: $486,802Net Assets 2011: $546,4162011Assets 2012: $971,113Liabilities 2012: $468,132Net Assets 2012: $502,9812012Assets 2013: $507,623Liabilities 2013: $169,628Net Assets 2013: $337,9952013Assets 2014: $363,341Liabilities 2014: $159,353Net Assets 2014: $203,9882014Assets 2015: $339,124Liabilities 2015: $148,459Net Assets 2015: $190,6652015Assets 2016: $322,755Liabilities 2016: $137,605Net Assets 2016: $185,1502016Assets 2017: $305,441Liabilities 2017: $130,918Net Assets 2017: $174,5232017Assets 2018: $237,960Liabilities 2018: $118,772Net Assets 2018: $119,1882018Assets 2019: $280,534Liabilities 2019: $112,268Net Assets 2019: $168,2662019Assets 2020: $261,123Liabilities 2020: $98,375Net Assets 2020: $162,7482020Assets 2021: $248,985Liabilities 2021: $86,487Net Assets 2021: $162,4982021Assets 2022: $242,619Liabilities 2022: $78,532Net Assets 2022: $164,0872022Assets 2023: $199,240Liabilities 2023: $13,975Net Assets 2023: $185,2652023Assets 2024: $214,612Liabilities 2024: $1,193Net Assets 2024: $213,4192024

Highlighted filing

2013

Assets$507,623
Liabilities$169,628
Net Assets$337,995
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$200K$100K$0-$100K-$200KExpenses 2010: $166,4292010Expenses 2011: $174,0802011Expenses 2012: $155,8082012Revenue 2013: $89,029Expenses 2013: $105,429Net Income 2013: -$16,4002013Revenue 2014: -$32,953Expenses 2014: $101,054Net Income 2014: -$134,0072014Revenue 2015: $74,912Expenses 2015: $88,235Net Income 2015: -$13,3232015Revenue 2016: $60,530Expenses 2016: $66,045Net Income 2016: -$5,5152016Revenue 2017: $65,544Expenses 2017: $76,171Net Income 2017: -$10,6272017Revenue 2018: $47,724Expenses 2018: $103,059Net Income 2018: -$55,3352018Revenue 2019: $164,115Expenses 2019: $115,037Net Income 2019: $49,0782019Revenue 2020: $76,308Expenses 2020: $81,826Net Income 2020: -$5,5182020Revenue 2021: $61,871Expenses 2021: $62,121Net Income 2021: -$2502021Revenue 2022: $71,479Expenses 2022: $69,890Net Income 2022: $1,5892022Revenue 2023: $97,878Expenses 2023: $76,700Net Income 2023: $21,1782023Revenue 2024: $105,729Expenses 2024: $77,575Net Income 2024: $28,1542024

Highlighted filing

2013

Revenue$89,029
Expenses$105,429
Net Income-$16,400
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jul 18, 2014
Return Version
2013v3.0
Gross Receipts
$89,029
Mission and Program Overview

Mission

Create a self-sustaining arts community dedicated to providing new and emerging artists with rental spaces to create art, to have access to shared resources and to be exposed to ongoing support and training opportunities; and to partnering with others for the purpose of incubating artists in the pursuit and development of viable businesses, and promote economic development in historic downtown siler city, north carolina.

Art support services & education

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$921,837$468,502▼ $453,335
Cash and Non-Interest-Bearing Accounts$47,046$34,748▼ $12,298
Accounts Receivable$40$2,090▲ $2,050
Prepaid Expenses and Deferred Charges$1,254$717▼ $537
Investments in Publicly Traded Securities$219$360▲ $141
Total Assets$971,113$507,623▼ $463,490
Other Assets Total$717$1,206▲ $489
Liabilities
Mortgage Notes Payable Secured by Investment Property$460,618$162,656▼ $297,962
Accounts Payable and Accrued Expenses$7,514$6,972▼ $542
Total Liabilities$468,132$169,628▼ $298,504
Net Assets / Fund Balance
Unrestricted Net Assets$498,216$332,535▼ $165,681
Temporarily Rstr Net Assets$4,765$5,460▲ $695
Total Net Assets Fund Balance$502,981$337,995▼ $164,986
Total Liabilities and Net Assets / Fund Balance$971,113$507,623▼ $463,490

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$456,682$138,878$595,560
Equipment$11,820$22,525$34,345
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Wren FarrarChairman
Ashley WoodDirector
Larry CooperDirector
Michael ConstantinoDirector
Zoann AdamsDirector
Amy PulliamSecretary
Denis De St AubinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$31,554
Program Service Revenue
$56,968
Investment Income
$507
Other Revenue
$0
All Other Contributions
$24,912
Change in Net Assets
$-16,400
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$85,768
Salaries, Compensation, and Employee Benefits$19,661
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$25,073$823-$25,896
Current Officers, Directors, Trustees, and Key Employees$4,567$13,702-$18,269
Interest$6,164--$6,164
Fees for Services Accounting$4,770$530-$5,300
All Other Expenses$4,890$45-$4,935
Insurance$2,078$981-$3,059
Occupancy$2,400--$2,400
Other Expenses$2,052$59-$2,052
Office Expenses$1,702$35-$1,737
Payroll Taxes$348$1,044-$1,392
Advertising$490--$490
Total Functional Expenses$86,506$18,923$0$105,429
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
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Denis de st. Aubin and wren farrar have a family relationship.”

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

“Items relating to personnel (including salaries) and agency service policies require board approval.”

Form 990, Part VI, Section B, Line 11

“Board members were each given the opportunity to review the 990 at the board meeting before it was filed.”

Form 990, Part VI, Section C, Line 19

“Governing documents (including form 990) are available for inspection in the organization office.”

Filing and Contact Details

Filer

EIN
47-0862625
Phone
9196631335

Signing Officer

Name
Jon Spoon
Title
Executive Director
Phone
9196631335
Signed
2014-07-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jon Spoon
Formed
2002
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
0

Preparer

Preparer
Donna S Foust
Phone
9196632311
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Foreclosure of 138 n. Chatham property to capital bank -148,721.”

Raw XML AppendixShowing 400 of 418 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/MissionDesc0CREATE A SELF-SUSTAINING ARTS COMMUNITY DEDICATED TO PROVIDING NEW AND EMERGING ARTISTS WITH RENTAL SPACES TO CREATE ART, TO HAVE ACCESS TO SHARED RESOURCES AND TO BE EXPOSED TO ONGOING SUPPORT AND TRAINING OPPORTUNITIES; AND TO PARTNERING WITH CENTRAL CAROLINA COMMUNITY COLLEGE AND OTHERS FOR THE PURPOSE OF INCUBATING ARTISTS IN THE PURSUIT AND DEVELOPMENT OF VIABLE BUSINESSES, AND PROMOTE ECONOMIC DEVELOPMENT IN HISTORIC DOWNTOWN SILER CITY, NORTH CAROLINA.
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt056967
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt076144
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0113391
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0104694
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0120943
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0472139
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0507
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0825
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0852
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt04
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02188
IRS990ScheduleA/InvestmentIncomeCYPct00.00360
IRS990ScheduleA/InvestmentIncomePYPct00.00260
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus2YearsAmt02362
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt02362
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98540
IRS990ScheduleA/PublicSupportPY509Pct00.97910
IRS990ScheduleA/PublicSupportTotal509Amt0603234
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt04395
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt04395
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt088521
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0106784
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0149717
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0133363
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0129244
IRS990ScheduleA/Total509Grp/TotalAmt0607629
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt089028
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0107609
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0152931
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0133367
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0129244
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0612179
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/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0456682
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0138878
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0595560
IRS990ScheduleD/EquipmentGrp/BookValueAmt011820
IRS990ScheduleD/EquipmentGrp/DepreciationAmt022525
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt034345
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0468502
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DENIS DE ST. AUBIN AND WREN FARRAR HAVE A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ITEMS RELATING TO PERSONNEL (INCLUDING SALARIES) AND AGENCY SERVICE POLICIES REQUIRE BOARD APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS WERE EACH GIVEN THE OPPORTUNITY TO REVIEW THE 990 AT THE BOARD MEETING BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS (INCLUDING FORM 990) ARE AVAILABLE FOR INSPECTION IN THE ORGANIZATION OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORECLOSURE OF 138 N. CHATHAM PROPERTY TO CAPITAL BANK -148,721.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt04765
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt05460
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0971113
IRS990/TotalAssetsEOYAmt0507623
IRS990/TotalAssetsGrp/BOYAmt0971113
IRS990/TotalAssetsGrp/EOYAmt0507623
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt031554
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018923
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt086506
IRS990/TotalFunctionalExpensesGrp/TotalAmt0105429
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0468132
IRS990/TotalLiabilitiesEOYAmt0169628
IRS990/TotalLiabilitiesGrp/BOYAmt0468132
IRS990/TotalLiabilitiesGrp/EOYAmt0169628
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0502981
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0337995
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt086506
IRS990/TotalProgramServiceRevenueAmt056968
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt057475
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt089029
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0971113
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0507623
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0498216
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0332535
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10223 NORTH CHATHAM AVENUE
IRS990/USAddress/City0SILER CITY
IRS990/USAddress/State0NC
IRS990/USAddress/ZIPCode027344
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0HTTP://WWW.NCARTSINCUBATOR.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JON SPOON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09196631335
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-07-18
ReturnHeader/Filer/BusinessName/BusinessNameLine10CHATHAM CREATIVE ARTS INCUBATOR INC
ReturnHeader/Filer/BusinessNameControlTxt0CHAT
ReturnHeader/Filer/EIN0470862625
ReturnHeader/Filer/PhoneNum09196631335

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$507,623
Liabilities
$169,628
Net assets
$337,995
Revenue
$89,029
Expenses
$105,429
Net income
-$16,400
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.00$0.21$0.11$0.08$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.20$0.01$0.19$0.10$0.08$0.02
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.24$0.08$0.16$0.07$0.07$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.09$0.16$0.06$0.06$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.10$0.16$0.08$0.08$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.11$0.17$0.16$0.12$0.05
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.24$0.12$0.12$0.05$0.10$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.31$0.13$0.17$0.07$0.08$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.32$0.14$0.19$0.06$0.07$0.01
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.15$0.19$0.07$0.09$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.36$0.16$0.20$0.03$0.10$0.13
2013Detailed filing. Detailed filing data is available for this year.$0.51$0.17$0.34$0.09$0.11$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$0.47$0.50$0.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.49$0.55$0.17
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.52$0.57$0.17