Civic Intelligence

The Light Factory

990 • Fiscal year 2016 • EIN 51-0185359

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 24, 2017

1817 Central Ave No C-200Charlotte, NC 28205

(704) 333-9755

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.12x

Higher debt load relative to assets than 72% of similar nonprofits.

2016 filings • NTEE A • <$500k nonprofits • Source year 2016

Liabilities / Revenue

80th percentile

0.12x

Higher debt load relative to revenue than 80% of similar nonprofits.

2016 filings • NTEE A • <$500k nonprofits • Source year 2016

Net Margin

19th percentile

-15%

Higher net margin than 19% of similar nonprofits.

2016 filings • NTEE A • <$500k nonprofits • Source year 2016

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

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

2016 filings • NTEE A • <$500k nonprofits • Source year 2016

Asset Growth

87th percentile

66%

Faster asset growth than 87% of similar nonprofits.

2016 filings • NTEE A • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

29th percentile

-16%

Faster revenue growth than 29% of similar nonprofits.

2016 filings • NTEE A • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Up

$218,499

Up $86,862 (+66%) from 2015

Net Assets

Up

$192,849

Up $83,797 (+77%) from 2015

Liabilities

Up

$25,650

Up $3,065 (+14%) from 2015

Revenue

Down

$215,009

Down $39,980 (-16%) from 2015

Expenses

Up

$248,186

Up $20,674 (+9.1%) from 2015

Net Income

Down

-$33,177

Down $60,654 (-221%) from 2015

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0-$100KAssets 2011: $99,919Liabilities 2011: $59,232Net Assets 2011: $40,6872011Assets 2012: $152,745Liabilities 2012: $82,283Net Assets 2012: $70,4622012Assets 2013: $147,451Liabilities 2013: $77,690Net Assets 2013: $69,7612013Assets 2014: $72,505Liabilities 2014: -$29Net Assets 2014: $72,5342014Assets 2015: $131,637Liabilities 2015: $22,585Net Assets 2015: $109,0522015Assets 2016: $218,499Liabilities 2016: $25,650Net Assets 2016: $192,8492016Assets 2017: $267,448Liabilities 2017: $28,102Net Assets 2017: $239,3462017Assets 2018: $274,203Liabilities 2018: $24,645Net Assets 2018: $249,5582018Assets 2019: $222,490Liabilities 2019: $17,873Net Assets 2019: $204,6172019Assets 2020: $226,787Liabilities 2020: $31,570Net Assets 2020: $195,2172020Assets 2021: $193,505Liabilities 2021: $8,914Net Assets 2021: $184,5912021Assets 2022: $147,353Liabilities 2022: $12,269Net Assets 2022: $135,0842022Assets 2023: $118,128Liabilities 2023: $4,056Net Assets 2023: $114,0722023Assets 2024: $141,338Liabilities 2024: $6,997Net Assets 2024: $134,3412024

Highlighted filing

2016

Assets$218,499
Liabilities$25,650
Net Assets$192,849

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $611,141Expenses 2011: $615,832Net Income 2011: -$4,6912011Revenue 2012: $667,178Expenses 2012: $637,403Net Income 2012: $29,7752012Revenue 2013: $450,696Expenses 2013: $451,397Net Income 2013: -$7012013Revenue 2014: $191,842Expenses 2014: $189,069Net Income 2014: $2,7732014Revenue 2015: $254,989Expenses 2015: $227,512Net Income 2015: $27,4772015Revenue 2016: $215,009Expenses 2016: $248,186Net Income 2016: -$33,1772016Revenue 2017: $367,779Expenses 2017: $285,001Net Income 2017: $82,7782017Revenue 2018: $345,887Expenses 2018: $337,853Net Income 2018: $8,0342018Revenue 2019: $284,699Expenses 2019: $328,841Net Income 2019: -$44,1422019Revenue 2020: $239,203Expenses 2020: $252,053Net Income 2020: -$12,8502020Revenue 2021: $251,098Expenses 2021: $261,724Net Income 2021: -$10,6262021Revenue 2022: $200,379Expenses 2022: $249,886Net Income 2022: -$49,5072022Revenue 2023: $216,448Expenses 2023: $237,460Net Income 2023: -$21,0122023Revenue 2024: $294,949Expenses 2024: $274,680Net Income 2024: $20,2692024

Highlighted filing

2016

Revenue$215,009
Expenses$248,186
Net Income-$33,177
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 24, 2017
Return Version
2015v3.0
Gross Receipts
$235,365
Mission and Program Overview

Mission

To inspire and empower our community through photography education and exhibitions.

The Light Factory is committed to photography and film as a means of enriching lives and transforming communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$119,142-
Cash and Non-Interest-Bearing Accounts$67,771$43,295▼ $24,476
Land, Buildings, and Equipment, Net$42,200$37,534▼ $4,666
Pledges and Grants Receivable$17,165$11,300▼ $5,865
Prepaid Expenses and Deferred Charges-$2,727-
Total Assets$131,637$218,499▲ $86,862
Other Assets Total$4,501$4,501→ $0
Liabilities
Deferred Revenue$16,539$20,447▲ $3,908
Accounts Payable and Accrued Expenses$6,046$5,203▼ $843
Total Liabilities$22,585$25,650▲ $3,065
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$119,142-
Unrestricted Net Assets$109,052$73,707▼ $35,345
Total Net Assets Fund Balance$109,052$192,849▲ $83,797
Total Liabilities and Net Assets / Fund Balance$131,637$218,499▲ $86,862

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,954$8,495-
Leasehold Improvements$33,580$5,155-
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$97,156
Program Service Revenue
$91,066
Investment Income
$5,438
Other Revenue
$21,349
All Other Contributions
$84,661
Change in Net Assets
$-33,177

Audited Revenue Reconciliation

Revenue per Audited Statements
$235,365
Revenue Not Reported on Financial Statements
$-20,356
Revenue Not Reported on Form 990
$36,405
Other Revenue Adjustments
$-20,356
Total Revenue per Audited Statements
$271,770
Total Revenue per Form 990
$215,009
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$126,382
Other Expenses$121,804
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-$71,657-$71,657
Occupancy-$29,468-$29,468
Payroll Taxes-$27,592-$27,592
Other Salaries and Wages$26,881$252-$27,133
All Other Expenses$4,752$10,251-$15,003
Advertising$7,122$7,611-$14,733
Information Technology-$10,455-$10,455
Office Expenses$5,337$2,257-$7,594
Fees for Services Accounting-$6,076-$6,076
Insurance-$5,981-$5,981
Other Expenses$2,203$1,726-$3,929
Depreciation Depletion-$2,499-$2,499
Total Functional Expenses$60,780$187,406$0$248,186

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$270,710
Expenses per Audited Statements$248,186
Total Expenses per Form 990$248,186
Expenses Not Reported on Form 990$22,524
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$41,705
Fundraising Direct Expenses$20,356
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction Event$34,410$34,410$10,999$23,411
Shoot Out Evenet$7,295$7,295$4,205$3,090
Total Events$41,705$41,705$20,356$21,349
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
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11

The executive committee meets in the month prior to filing the return to reveiw the return and ask questions of the accountant.

Form 990, Part VI, Section B, line 12C

Board members are required once a year to complete and submit a conflict of interest form.

Form 990, Part VI, Section C, line 19

The organization's form 990, governing documents, conflict of interest policy and financial statements are available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
The Light Factory
EIN
51-0185359
Phone
7043339755
Address
1817 Central Ave No C-200, Charlotte, NC 28205

Signing Officer

Name
Randall Weghorst
Title
President
Phone
7043339755
Signed
2017-01-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randall Weghorst
Formed
1975
Legal Domicile
Nc
Voting Board Members
21
Independent Board Members
21
Employees
2
Volunteers
0

Preparer

Firm
Scharf Pera & Co Pllc
Address
4600 PARK ROAD STE 112, CHARLOTTE, NC 28209
Preparer
Wayne Spransy
Phone
7043721167
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Book to Tax appreication in investments 36,407. Adjustment to include savings accounts 82,737. Book to Tax depreciation difference -2,170.

Financial Statement Notes

Part XI, Line 4B - Other Adjustments:

Direct Fundraising expenses -20,356.

Part XII, Line 2D - Other Adjustments:

Fundraising expenses included in revenue 20,356. Book to Tax Depreciation difference 2,168.

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IRS990/Form990PartVIISectionAGrp/TitleTxt16Member
IRS990/Form990PartVIISectionAGrp/TitleTxt17Member
IRS990/Form990PartVIISectionAGrp/TitleTxt18Member
IRS990/Form990PartVIISectionAGrp/TitleTxt19Member
IRS990/Form990PartVIISectionAGrp/TitleTxt20Member
IRS990/Form990PartVIISectionAGrp/TitleTxt21Member
IRS990/Form990PartVIISectionAGrp/TitleTxt22Member
IRS990/Form990PartVIISectionAGrp/TitleTxt23Member
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01975
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd01
IRS990/FundraisingDirectExpensesAmt020356
IRS990/FundraisingGrossIncomeAmt041705
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt021
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0235365
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt021
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt010455
IRS990/InformationTechnologyGrp/TotalAmt010455
IRS990/InsuranceGrp/ManagementAndGeneralAmt05981
IRS990/InsuranceGrp/TotalAmt05981
IRS990/InvestmentIncomeGrp/ExclusionAmt05438
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt05438
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt020
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt013650
IRS990/LandBldgEquipBasisNetGrp/BOYAmt042200
IRS990/LandBldgEquipBasisNetGrp/EOYAmt037534
IRS990/LandBldgEquipCostOrOtherBssAmt051184
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt012495
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0None
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0109052
IRS990/NetAssetsOrFundBalancesEOYAmt0192849
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt021349
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt021349
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt029468
IRS990/OccupancyGrp/TotalAmt029468
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02257
IRS990/OfficeExpensesGrp/ProgramServicesAmt05337
IRS990/OfficeExpensesGrp/TotalAmt07594
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt04501
IRS990/OtherAssetsTotalGrp/EOYAmt04501
IRS990/OtherChangesInNetAssetsAmt0116974
IRS990/OtherExpensesGrp/Desc0Miscellaneous
IRS990/OtherExpensesGrp/Desc1Education Supplies
IRS990/OtherExpensesGrp/Desc2Bad Debt
IRS990/OtherExpensesGrp/Desc3Postage and Shipping
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03816
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt17765
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21726
IRS990/OtherExpensesGrp/ProgramServicesAmt05817
IRS990/OtherExpensesGrp/ProgramServicesAmt18668
IRS990/OtherExpensesGrp/ProgramServicesAmt22203
IRS990/OtherExpensesGrp/TotalAmt09633
IRS990/OtherExpensesGrp/TotalAmt18668
IRS990/OtherExpensesGrp/TotalAmt27765
IRS990/OtherExpensesGrp/TotalAmt33929
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0252
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt026881
IRS990/OtherSalariesAndWagesGrp/TotalAmt027133
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt027592
IRS990/PayrollTaxesGrp/TotalAmt027592
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt017165
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt011300
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02727
IRS990/PrincipalOfficerNm0Randall Weghorst
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0713990
IRS990/ProgramServiceRevenueGrp/Desc0Classes, workshops and
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt091066
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt091066
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0110753
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0129410
IRS990/PYOtherRevenueAmt051258
IRS990/PYProgramServiceRevenueAmt092978
IRS990/PYRevenuesLessExpensesAmt027477
IRS990/PYSalariesCompEmpBnftPaidAmt098102
IRS990/PYTotalExpensesAmt0227512
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0254989
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-33177
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt091066
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0119142
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt093733
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0256674
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0113528
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0283817
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0443761
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01191513
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt05438
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt026
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt064
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt03
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt05531
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt05438
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt026
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt064
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt03
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt05531
IRS990ScheduleA/InvestmentIncomeCYPct00.00460
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99540
IRS990ScheduleA/PublicSupportPY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt01191513
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt093733
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0256674
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0113528
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0283817
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0443761

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.41$0.07$1.34$2.95$2.75$0.20
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.18$0.04$1.14$2.16$2.37$0.21
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$0.12$1.35$2.00$2.50$0.50
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.94$0.09$1.85$2.51$2.62$0.11
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.27$0.32$1.95$2.39$2.52$0.13
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.22$0.18$2.05$2.85$3.29$0.44
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.74$0.25$2.50$3.46$3.38$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.67$0.28$2.39$3.68$2.85$0.83
2016Detailed filing. Detailed filing data is available for this year.$2.18$0.26$1.93$2.15$2.48$0.33
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.32$0.23$1.09$2.55$2.28$0.27
2014Summary only. Only limited summary data is available for this year.$0.73$0.00$0.73$1.92$1.89$0.03
2013Summary only. Only limited summary data is available for this year.$1.47$0.78$0.70$4.51$4.51$0.01
2012Summary only. Only limited summary data is available for this year.$1.53$0.82$0.70$6.67$6.37$0.30
2011Summary only. Only limited summary data is available for this year.$1.00$0.59$0.41$6.11$6.16$0.05