Civic Intelligence

Chatham Creative Arts Incubator Inc.

990 • Fiscal year 2015 • EIN 47-0862625

Jan 01, 2015 to Dec 31, 2015 • Filed on Apr 26, 2016

PO Box 643 223 North Chatham AvenueSiler City, NC 27344

(919) 663-1335

Siviq Scores

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

Liabilities / Assets

86th percentile

0.44x

Higher debt load relative to assets than 86% of similar nonprofits.

2015 filings • NTEE S30 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

97th percentile

1.98x

Higher debt load relative to revenue than 97% of similar nonprofits.

2015 filings • NTEE S • <$500k nonprofits • Source year 2015

Net Margin

29th percentile

-18%

Higher net margin than 29% of similar nonprofits.

2015 filings • NTEE S30 • <$500k nonprofits • Source year 2015

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • NTEE S • <$500k nonprofits • Source year 2015

Asset Growth

41st percentile

-6.7%

Faster asset growth than 41% of similar nonprofits.

2015 filings • NTEE S30 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2014 to 2015

Assets

Down

$339,124

Down $24,217 (-6.7%) from 2014

Net Assets

Down

$190,665

Down $13,323 (-6.5%) from 2014

Liabilities

Down

$148,459

Down $10,894 (-6.8%) from 2014

Revenue

Up

$74,912

Up $107,865 (+327%) from 2014

Expenses

Down

$88,235

Down $12,819 (-13%) from 2014

Net Income

Up

-$13,323

Up $120,684 (+90%) from 2014

Historical Trend

Balance Sheet Trend

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

2015

Assets$339,124
Liabilities$148,459
Net Assets$190,665

Operations Trend

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

2015

Revenue$74,912
Expenses$88,235
Net Income-$13,323
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Apr 26, 2016
Return Version
2015v2.1
Gross Receipts
$76,398
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$249,698$234,082▼ $15,616
Other Notes and Loans Receivable, Net$88,923$73,562▼ $15,361
Cash and Non-Interest-Bearing Accounts$23,352$28,422▲ $5,070
Accounts Receivable-$1,815-
Prepaid Expenses and Deferred Charges$701$910▲ $209
Total Assets$363,341$339,124▼ $24,217
Other Assets Total$667$333▼ $334
Liabilities
Mortgage Notes Payable Secured by Investment Property$156,005$145,793▼ $10,212
Accounts Payable and Accrued Expenses$3,348$2,666▼ $682
Total Liabilities$159,353$148,459▼ $10,894
Net Assets / Fund Balance
Unrestricted Net Assets$198,728$185,130▼ $13,598
Temporarily Rstr Net Assets$5,260$5,535▲ $275
Total Net Assets Fund Balance$203,988$190,665▼ $13,323
Total Liabilities and Net Assets / Fund Balance$363,341$339,124▼ $24,217

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$228,576$127,043$355,619
Equipment$5,506$24,580$30,086
Compensation and Service Providers

Board Members and Trustees

NameTitle
Larry CooperCo-chairman
Nicholas DakasCo-chairman
Ashley WoodDirector
Denis De St AubinDirector
Michael ConstantinoDirector
Wren FarrarSecretary
Zoann AdamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$22,089
Program Service Revenue
$48,886
Investment Income
$3,937
Other Revenue
$0
All Other Contributions
$15,692
Change in Net Assets
$-13,323
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$63,206
Salaries, Compensation, and Employee Benefits$25,029
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$9,300$13,950-$23,250
Depreciation Depletion$15,616$334-$15,950
Interest$5,169--$5,169
Fees for Services Accounting$4,505$501-$5,006
All Other Expenses$2,831$47-$2,878
Occupancy$2,700--$2,700
Other Expenses$1,972$113-$1,972
Payroll Taxes$712$1,067-$1,779
Insurance-$837-$837
Office Expenses$749$15-$764
Advertising$314--$314
Total Functional Expenses$70,517$17,718$0$88,235
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,486
Fundraising Gross Income$1,486
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

Filer Name
Chatham Creative Arts Incubator Inc
EIN
47-0862625
Phone
9196631335
Address
PO BOX 643 223 NORTH CHATHAM AVENUE, SILER CITY, NC 27344

Signing Officer

Name
Zoann Adams
Title
Treasurer
Phone
9196631335
Signed
2016-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Zoann Adams
Formed
2002
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
3
Volunteers
0

Preparer

Firm
Ward & Foust Cpas Pa
Address
PO BOX 185, SILER CITY, NC 27344
Preparer
Donna S Foust
Phone
9196632311
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt076144
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0113391
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0336235
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt03937
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt03560
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0507
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0825
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0852
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt09681
IRS990ScheduleA/InvestmentIncomeCYPct00.01970
IRS990ScheduleA/InvestmentIncomePYPct00.01040
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus4YearsAmt02362
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt02362
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97550
IRS990ScheduleA/PublicSupportPY509Pct00.98530
IRS990ScheduleA/PublicSupportTotal509Amt0480280
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt070975
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt064283
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt088521
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0106784
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0149717
IRS990ScheduleA/Total509Grp/TotalAmt0480280
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt074912
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt067843
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt089028
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0107609
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0152931
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0492323
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/BookValueAmt0228576
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0127043
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0355619
IRS990ScheduleD/EquipmentGrp/BookValueAmt05506
IRS990ScheduleD/EquipmentGrp/DepreciationAmt024580
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt030086
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0234082
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/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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt05260
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt05535
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0363341
IRS990/TotalAssetsEOYAmt0339124
IRS990/TotalAssetsGrp/BOYAmt0363341
IRS990/TotalAssetsGrp/EOYAmt0339124
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt022089
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017718
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt070517
IRS990/TotalFunctionalExpensesGrp/TotalAmt088235
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0159353
IRS990/TotalLiabilitiesEOYAmt0148459
IRS990/TotalLiabilitiesGrp/BOYAmt0159353
IRS990/TotalLiabilitiesGrp/EOYAmt0148459
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0203988
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0190665
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt070517
IRS990/TotalProgramServiceRevenueAmt048886
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt03937
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt048886
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt074912
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0363341
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0339124
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0198728
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0185130
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0223 NORTH CHATHAM AVENUE
IRS990/USAddress/CityNm0SILER CITY
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027344
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0HTTP://WWW.NCARTSINCUBATOR.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ZOANN ADAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09196631335
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-04-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CHATHAM CREATIVE ARTS INCUBATOR INC
ReturnHeader/Filer/BusinessNameControlTxt0CHAT
ReturnHeader/Filer/EIN0470862625
ReturnHeader/Filer/PhoneNum09196631335
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 643 223 NORTH CHATHAM AVENUE
ReturnHeader/Filer/USAddress/CityNm0SILER CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027344
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0260367225

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Filings

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
2015Detailed filing. Detailed filing data is available for this year.$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