Civic Intelligence

Old Salem Incorporated

990 • Fiscal year 2015 • EIN 56-0587289

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 07, 2016

600 S Main StreetWinstonsalem, NC 27101

(336) 721-7300

Siviq Scores

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

Liabilities / Assets

16th percentile

0.03x

Higher debt load relative to assets than 16% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

25th percentile

0.16x

Higher debt load relative to revenue than 25% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

91st percentile

47%

Higher net margin than 91% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

15th percentile

$165,682

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

26th percentile

-2.0%

Faster asset growth than 26% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

96th percentile

85%

Faster revenue growth than 96% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Down

$71,780,654

Down $1,478,924 (-2.0%) from 2014

Net Assets

Down

$69,341,810

Down $2,096,300 (-2.9%) from 2014

Liabilities

Up

$2,438,844

Up $617,376 (+34%) from 2014

Revenue

Up

$15,169,899

Up $6,978,309 (+85%) from 2014

Expenses

Up

$7,965,553

Up $1,201 (+0.0%) from 2014

Net Income

Up

$7,204,346

Up $6,977,108 (+3070%) from 2014

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2011: $72,127,985Liabilities 2011: $2,615,138Net Assets 2011: $69,512,8472011Assets 2012: $71,233,411Liabilities 2012: $2,559,264Net Assets 2012: $68,674,1472012Assets 2013: $73,203,749Liabilities 2013: $1,693,524Net Assets 2013: $71,510,2252013Assets 2014: $73,259,578Liabilities 2014: $1,821,468Net Assets 2014: $71,438,1102014Assets 2015: $71,780,654Liabilities 2015: $2,438,844Net Assets 2015: $69,341,8102015Assets 2016: $73,561,156Liabilities 2016: $3,740,507Net Assets 2016: $69,820,6492016Assets 2017: $77,263,224Liabilities 2017: $2,504,143Net Assets 2017: $74,759,0812017Assets 2018: $72,441,999Liabilities 2018: $1,831,512Net Assets 2018: $70,610,4872018Assets 2019: $77,533,232Liabilities 2019: $2,020,348Net Assets 2019: $75,512,8842019Assets 2020: $79,368,344Liabilities 2020: $1,867,413Net Assets 2020: $77,500,9312020Assets 2021: $81,707,076Liabilities 2021: $1,614,808Net Assets 2021: $80,092,2682021Assets 2022: $66,335,974Liabilities 2022: $1,002,707Net Assets 2022: $65,333,2672022Assets 2023: $69,957,134Liabilities 2023: $972,570Net Assets 2023: $68,984,5642023Assets 2024: $73,818,193Liabilities 2024: $1,863,643Net Assets 2024: $71,954,5502024

Highlighted filing

2015

Assets$71,780,654
Liabilities$2,438,844
Net Assets$69,341,810

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $6,894,0622011Expenses 2012: $7,328,8502012Revenue 2013: $9,137,521Expenses 2013: $7,803,959Net Income 2013: $1,333,5622013Revenue 2014: $8,191,590Expenses 2014: $7,964,352Net Income 2014: $227,2382014Revenue 2015: $15,169,899Expenses 2015: $7,965,553Net Income 2015: $7,204,3462015Revenue 2016: $6,141,999Expenses 2016: $7,797,740Net Income 2016: -$1,655,7412016Revenue 2017: $7,583,124Expenses 2017: $6,972,810Net Income 2017: $610,3142017Revenue 2018: $5,823,103Expenses 2018: $6,388,126Net Income 2018: -$565,0232018Revenue 2019: $7,485,880Expenses 2019: $6,472,083Net Income 2019: $1,013,7972019Revenue 2020: $3,173,729Expenses 2020: $4,370,329Net Income 2020: -$1,196,6002020Revenue 2021: $3,795,190Expenses 2021: $4,621,944Net Income 2021: -$826,7542021Revenue 2022: $6,551,134Expenses 2022: $5,253,741Net Income 2022: $1,297,3932022Revenue 2023: $7,060,262Expenses 2023: $6,101,907Net Income 2023: $958,3552023Revenue 2024: $7,683,432Expenses 2024: $6,391,535Net Income 2024: $1,291,8972024

Highlighted filing

2015

Revenue$15,169,899
Expenses$7,965,553
Net Income$7,204,346
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 7, 2016
Return Version
2015v2.1
Gross Receipts
$49,648,269
Mission and Program Overview

Mission

The preservation and interpretation of the history and material culture of the early american south and the moravian town of salem.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$35,842,603$33,217,666▼ $2,624,937
Land, Buildings, and Equipment, Net$11,302,466$11,599,013▲ $296,547
Pledges and Grants Receivable$1,719,202$1,520,310▼ $198,892
Savings and Temporary Cash Investments$669,318$793,165▲ $123,847
Inventories for Sale or Use$576,437$324,373▼ $252,064
Prepaid Expenses and Deferred Charges$70,403$138,386▲ $67,983
Accounts Receivable$97,255$107,736▲ $10,481
Cash and Non-Interest-Bearing Accounts$1,531$63,464▲ $61,933
Total Assets$73,259,578$71,780,654▼ $1,478,924
Other Assets Total$22,980,363$24,016,541▲ $1,036,178
Liabilities
Mortgage Notes Payable Secured by Investment Property$459,302$1,500,234▲ $1,040,932
Accounts Payable and Accrued Expenses$1,246,284$852,377▼ $393,907
Deferred Revenue$115,882$86,233▼ $29,649
Total Liabilities$1,821,468$2,438,844▲ $617,376
Net Assets / Fund Balance
Unrestricted Net Assets$50,930,490$39,550,904▼ $11,379,586
Permanently Rstr Net Assets$18,300,935$18,122,211▼ $178,724
Temporarily Rstr Net Assets$2,206,685$11,668,695▲ $9,462,010
Total Net Assets Fund Balance$71,438,110$69,341,810▼ $2,096,300
Total Liabilities and Net Assets / Fund Balance$73,259,578$71,780,654▼ $1,478,924

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,458,974$7,205,834$14,664,808
Leasehold Improvements$1,945,670$828,447$2,774,117
Equipment$302,704$2,156,689$2,459,393
Land$1,525,210-$1,525,210
Other Land Buildings$366,455$422,525$788,980
Other Assets Org$12,254--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$36,511,921$677,513▼ $606,164$2,572,079$34,010,831
2014$36,378,771$651,606▲ $2,172,984$2,691,440$36,511,921
2013$35,510,389$210,337▲ $3,880,705$3,222,660$36,378,771
2012$37,093,862$54,010▲ $1,574,047$3,211,530$35,510,389
2011$38,781,800$166,477▲ $1,210,575$3,064,990$37,093,862
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mrs Ragan FolanPresidentFT$158,057$7,625$165,682
Mr Anthony SlaterCOOFT$104,625-$104,625
Mr Robert LeathV.p. CollectFT$74,406$9,029$83,435
Ms Frances BeasleyV.p. DevelopFT$75,045$2,163$77,208
Mr John LarsonV.p. RestoraFT$68,027$4,788$72,815
Ms Paula LocklairV.p. EducatiFT$63,249$4,418$67,667
Mr Eric HoyleVP Fin/ CFOFT$30,173$2,151$32,324
Revenue and Support

Revenue Composition

Contributions and Grants
$3,904,375
Program Service Revenue
$1,144,240
Investment Income
$8,507,869
Other Revenue
$1,613,415
All Other Contributions
$3,275,492
Change in Net Assets
$7,204,346

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Historical Artifacts11$771,050Appraisal
Real Estate Commercial4$596,000Appraisal
Securities Publicly Traded18$121,512Market Value
Other Non Cash Contri Table1$14,411Market Value
Total Noncash Contributions34$1,502,973-

Audited Revenue Reconciliation

Revenue per Audited Statements
$15,169,899
Revenue Not Reported on Form 990
$-8,078,988
Total Revenue per Audited Statements
$7,090,911
Total Revenue per Form 990
$15,169,899
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,463,236
Other Expenses$3,495,972
Total Fundraising Expense$743,065
Professional Fundraising Fees$6,345
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,843,341$45,330$406,289$3,294,960
Office Expenses$764,439$31,023$79,947$875,409
Current Officers, Directors, Trustees, and Key Employees$223,917$313,881$77,208$615,006
Depreciation Depletion$504,982$49,823$2,177$556,982
Payroll Taxes$249,016$17,404$37,757$304,177
Occupancy$252,526$16,844$2,099$271,469
Fees for Services Other$182,784$42,833$43,063$268,680
Other Employee Benefits$223,395$4,781$20,917$249,093
Advertising$208,038$25-$208,063
Information Technology$114,847$12,626$34,694$162,167
Insurance$138,976$4,487$2,015$145,478
Fees for Service Investment Mgmnt Fees-$136,705-$136,705
Travel$83,285$405$2,553$86,243
Other Expenses$50,905$21,774$3,318$75,997
Fees for Services Accounting$23,595$21,761$1,015$46,371
Interest$32,521--$32,521
Fees for Services Legal-$21,286-$21,286
Conferences and Meetings$8,196$370-$8,566
Fees for Services Professional Fundraising--$6,345$6,345
Total Functional Expenses$6,456,706$765,782$743,065$7,965,553

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$9,187,211
Expenses per Audited Statements$7,965,553
Total Expenses per Form 990$7,965,553
Expenses Not Reported on Form 990$1,221,658
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$199,709
Fundraising Gross Income$65,492
Professional Fundraising Fees$6,345

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Mesda 50th Anni$451,827$36,900$53,315$-16,415
Speaker Event$62,950$19,484$8,593$10,891
Total Events$561,284$64,014$198,586$-134,572
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-OfficerConstruction ServicNo$176,768
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

The tax return is reviewed in detail by the audit commmittee and submitted for approval to the executive committee of the board of trustees. Upon approval by the executive committee form 990 is electronically distributed to our board members for review prior to filing the return.

Form 990, Page 6, Part VI, Line 12C

Annual statement of compliance is obtained from each trustee and key employee.

Form 990, Page 6, Part VI, Line 15A

The president's salary is determined periodically using comparative data developed by an independent compensation consultant. The data is reviewed by the executive committee then approved by the board of trustees.

Form 990, Page 6, Part VI, Line 15B

The officers' salaries are determined periodically using comparative data developed by an independent compensation consultant. The data is reviewed by the executive committee then approved by the board of trustees.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents and conflict of interest policy are made available to public upon specific request. The annual report is distributed to donors and upon specific request.

Filing and Contact Details

Filer

Filer Name
Old Salem Inc
EIN
56-0587289
Phone
3367217300
Address
600 S MAIN STREET, WINSTONSALEM, NC 27101

Signing Officer

Name
Mr Anthony Slater
Title
COO
Phone
3367217316
Signed
2016-11-07

Organization Details

Principal Officer
Mrs Ragan Folan
Formed
1950
Legal Domicile
Nc
Voting Board Members
25
Independent Board Members
24
Employees
262
Volunteers
207

Preparer

Firm
Cannon & Company Llp
Address
2160 COUNTRY CLUB RD, WINSTONSALEM, NC 27104-4208
Preparer
Richard J Tamer
Phone
3367250635
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Rental expenses 65,512 cost of goods sold 984,437 fundraising event expenses 171,709 rental expenses -65,512 cost of goods sold -984,437 fundraising event expenses -171,709

Financial Statement Notes

Schedule D, Page 1, Part II, Line 9

Conservation easements consists of deed covenants that the organization holds on properties that have passed through its ownership. No value is recorded for these deed convenants.

Schedule D, Page 2, Part III, Line 4

Preservation and presentation of the material culture of the american south is a major part of the organization's mission/exempt purpose.

Schedule D, Page 3, Part X

The organization is an exempt organization under section 501 (c)(3) of the united states internal revenue code. The organization is subject to income tax on unrelated business income. The organization's forms 990, return of organization exempt from income tax for 2015, 2014, and 2013 are subject to examination by the irs, generally for three years after they are filed.

Schedule D, Page 4, Part XI, Line 2D

Rental expenses 65,512 cost of goods sold 984,437 fundraising event expenses 171,709

Schedule D, Page 4, Part XII, Line 2D

Rental expenses 65,512 cost of goods sold 984,437 fundraising event expenses 171,709

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IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE THRU
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE BEGI
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE BEGI
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt28COO
IRS990/Form990PartVIISectionAGrp/TitleTxt29V.P. DEVELOP
IRS990/Form990PartVIISectionAGrp/TitleTxt30V.P. COLLECT
IRS990/Form990PartVIISectionAGrp/TitleTxt31V.P. RESTORA
IRS990/Form990PartVIISectionAGrp/TitleTxt32V.P. EDUCATI
IRS990/Form990PartVIISectionAGrp/TitleTxt33VP FIN/ CFO
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$73.8$1.86$72.0$7.68$6.39$1.29
2023Detailed filing. Detailed filing data is available for this year.$70.0$0.97$69.0$7.06$6.10$0.96
2022Detailed filing. Detailed filing data is available for this year.$66.3$1.00$65.3$6.55$5.25$1.30
2021Detailed filing. Detailed filing data is available for this year.$81.7$1.61$80.1$3.80$4.62$0.83
2020Detailed filing. Detailed filing data is available for this year.$79.4$1.87$77.5$3.17$4.37$1.20
2019Detailed filing. Detailed filing data is available for this year.$77.5$2.02$75.5$7.49$6.47$1.01
2018Detailed filing. Detailed filing data is available for this year.$72.4$1.83$70.6$5.82$6.39$0.57
2017Detailed filing. Detailed filing data is available for this year.$77.3$2.50$74.8$7.58$6.97$0.61
2016Detailed filing. Detailed filing data is available for this year.$73.6$3.74$69.8$6.14$7.80$1.66
2015Detailed filing. Detailed filing data is available for this year.$71.8$2.44$69.3$15.2$7.97$7.20
2014Detailed filing. Detailed filing data is available for this year.$73.3$1.82$71.4$8.19$7.96$0.23
2013Detailed filing. Detailed filing data is available for this year.$73.2$1.69$71.5$9.14$7.80$1.33
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.2$2.56$68.7$7.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$72.1$2.62$69.5$6.89