Civic Intelligence

Rowan Museum Incorporated

990 • Fiscal year 2016 • EIN 56-0625409

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 23, 2017

202 North Main StreetSalisbury, NC 28144

(704) 633-5946

Siviq Scores

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

Liabilities / Assets

50th percentile

0.00x

Higher debt load relative to assets than 50% of similar nonprofits.

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

Liabilities / Revenue

50th percentile

0.00x

Higher debt load relative to revenue than 50% of similar nonprofits.

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

Net Margin

14th percentile

-22%

Higher net margin than 14% of similar nonprofits.

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

Top Officer Pay

87th percentile

$30,000

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 20.6% of source-year revenue.

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

Asset Growth

34th percentile

-6.7%

Faster asset growth than 34% of similar nonprofits.

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

Revenue Growth

23rd percentile

-22%

Faster revenue growth than 23% of similar nonprofits.

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

Assets

Down

$445,189

Down $31,999 (-6.7%) from 2015

Net Assets

Down

$445,057

Down $32,071 (-6.7%) from 2015

Liabilities

Up

$132

Up $72 (+120%) from 2015

Revenue

Down

$145,694

Down $41,226 (-22%) from 2015

Expenses

Up

$177,765

Up $2,488 (+1.4%) from 2015

Net Income

Down

-$32,071

Down $43,714 (-375%) from 2015

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2012: $435,442Liabilities 2012: $1,9242012Assets 2013: $419,980Liabilities 2013: $2,190Net Assets 2013: $417,7902013Assets 2014: $466,288Liabilities 2014: $66Net Assets 2014: $466,2222014Assets 2015: $477,188Liabilities 2015: $60Net Assets 2015: $477,1282015Assets 2016: $445,189Liabilities 2016: $132Net Assets 2016: $445,0572016Assets 2017: $802,979Liabilities 2017: $2,192Net Assets 2017: $800,7872017Assets 2018: $1,107,315Liabilities 2018: $10Net Assets 2018: $1,107,3052018Assets 2019: $1,389,531Liabilities 2019: $12Net Assets 2019: $1,389,5192019Assets 2020: $1,471,804Liabilities 2020: $23,364Net Assets 2020: $1,448,4402020Assets 2021: $1,583,111Liabilities 2021: $12Net Assets 2021: $1,583,0992021Assets 2022: $1,501,273Liabilities 2022: $12Net Assets 2022: $1,501,2612022Assets 2023: $1,619,723Liabilities 2023: $0Net Assets 2023: $1,619,7232023Assets 2024: $1,757,758Liabilities 2024: $0Net Assets 2024: $1,757,7582024

Highlighted filing

2016

Assets$445,189
Liabilities$132
Net Assets$445,057

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2012: $174,734Expenses 2012: $215,207Net Income 2012: -$40,4732012Expenses 2013: $195,9172013Revenue 2014: $188,223Expenses 2014: $162,959Net Income 2014: $25,2642014Revenue 2015: $186,920Expenses 2015: $175,277Net Income 2015: $11,6432015Revenue 2016: $145,694Expenses 2016: $177,765Net Income 2016: -$32,0712016Revenue 2017: $535,828Expenses 2017: $180,098Net Income 2017: $355,7302017Revenue 2018: $485,291Expenses 2018: $178,773Net Income 2018: $306,5182018Revenue 2019: $485,589Expenses 2019: $203,375Net Income 2019: $282,2142019Revenue 2020: $201,202Expenses 2020: $142,281Net Income 2020: $58,9212020Revenue 2021: $295,156Expenses 2021: $160,497Net Income 2021: $134,6592021Revenue 2022: $102,655Expenses 2022: $184,493Net Income 2022: -$81,8382022Revenue 2023: $333,856Expenses 2023: $215,394Net Income 2023: $118,4622023Revenue 2024: $355,798Expenses 2024: $217,763Net Income 2024: $138,0352024

Highlighted filing

2016

Revenue$145,694
Expenses$177,765
Net Income-$32,071
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 23, 2017
Return Version
2016v3.0
Gross Receipts
$222,781
Mission and Program Overview

Mission

Collect, preserve, research, exhibit, and educate the public about the history of rowan county and piedmont north carolina through the use of its properties, programs and collections.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$397,150$381,712▼ $15,438
Savings and Temporary Cash Investments$23,197$23,361▲ $164
Accounts Receivable$1,101$999▼ $102
Cash and Non-Interest-Bearing Accounts$19,527$589▼ $18,938
Total Assets$477,188$445,189▼ $31,999
Other Assets Total$36,213$38,528▲ $2,315
Liabilities
Accounts Payable and Accrued Expenses$60$132▲ $72
Total Liabilities$60$132▲ $72
Net Assets / Fund Balance
Unrestricted Net Assets$477,128$445,057▼ $32,071
Total Net Assets Fund Balance$477,128$445,057▼ $32,071
Total Liabilities and Net Assets / Fund Balance$477,188$445,189▼ $31,999

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$381,712$116,487$498,199
Equipment-$43,730$43,730
Other Assets Org$500--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Aaron KepleyExecutive DiFT$30,000$30,000
Kaye HirstExecutive DiFT$20,804$20,804

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$90,381
Program Service Revenue
$20,863
Investment Income
$2,343
Other Revenue
$32,107
All Other Contributions
$64,881
Change in Net Assets
$-32,071
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$116,739
Other Expenses$61,026
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$25,402$25,402-$50,804
Other Salaries and Wages$39,332$856-$40,188
Occupancy$31,424--$31,424
Other Employee Benefits$13,272$5,383-$18,655
Payroll Taxes$5,046$2,046-$7,092
Fees for Services Accounting-$3,750-$3,750
Advertising$2,870--$2,870
Depreciation Depletion-$2,867-$2,867
Office Expenses$1,210$1,559-$2,769
Conferences and Meetings-$905-$905
Other Expenses$2,957$500-$500
All Other Expenses$304$143-$447
Interest-$71-$71
Total Functional Expenses$131,514$46,251$0$177,765
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$82,217
Fundraising Direct Expenses$54,538
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Other$42,209$42,209$17,855$24,354
Antique Show$40,008$40,008$36,683$3,325
Total Events$82,217$82,217$54,538$27,679
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
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, Page 6, Part VI, Line 11B

The executive director and the treasurer review a preliminary copy of the 990 and discuss any oberservations, questions or changes with the cpa return preparer before it is finalized and filed.

Form 990, Page 6, Part VI, Line 19

Because of local government funding, the museum advertises upcoming board meetings (times and dates) which are open to the public. Attendees to the meetings are privy to all museum documents and financial records discussed at meetings. Financial statements are submitted to the local funding agencies semi-annually. In addition an annual business meeting is conducted each year inwhich a report is delivered of the activities and events for the year and the year-end financial statements are presented.

Filing and Contact Details

Filer

Filer Name
Rowan Museum Inc
EIN
56-0625409
Phone
7046335946
Address
202 NORTH MAIN STREET, SALISBURY, NC 28144

Signing Officer

Name
Aaron Kepley
Title
Executive Director
Phone
7046335946
Signed
2017-08-23

Organization Details

Principal Officer
Aaron Kepley
Formed
1953
Legal Domicile
Nc
Voting Board Members
21
Independent Board Members
21
Employees
10
Volunteers
100

Preparer

Firm
Brent H Parks CPA Pa
Address
1816 E INNES ST STE 101, SALISBURY, NC 28146-6027
Preparer
Brent H Parks
Phone
7046338700
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IRS990ScheduleD/CollUsedLoanOrExchProgInd0X
IRS990ScheduleD/CollUsedScholarlyRsrchInd0X
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt043730
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt043730
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0OTHER
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0ANTIQUE SHOW

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