Civic Intelligence

Rowan Museum Incorporated

990 • Fiscal year 2021 • EIN 56-0625409

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 23, 2022

202 N 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

16th percentile

0.00x

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

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

16th percentile

0.00x

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

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Net Margin

79th percentile

46%

Higher net margin than 79% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

46th percentile

$32,490

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 11.0% of source-year revenue.

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Asset Growth

44th percentile

7.6%

Faster asset growth than 44% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

66th percentile

47%

Faster revenue growth than 66% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,583,111

Up $111,307 (+7.6%) from 2020

Net Assets

Up

$1,583,099

Up $134,659 (+9.3%) from 2020

Liabilities

Down

$12

Down $23,352 (-100%) from 2020

Revenue

Up

$295,156

Up $93,954 (+47%) from 2020

Expenses

Up

$160,497

Up $18,216 (+13%) from 2020

Net Income

Up

$134,659

Up $75,738 (+129%) from 2020

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

2021

Assets$1,583,111
Liabilities$12
Net Assets$1,583,099

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

2021

Revenue$295,156
Expenses$160,497
Net Income$134,659
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 23, 2022
Return Version
2021v4.0
Gross Receipts
$324,253
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$632,768$619,861▼ $12,907
Savings and Temporary Cash Investments$60,015$72,247▲ $12,232
Cash and Non-Interest-Bearing Accounts$39,921$17,558▼ $22,363
Accounts Receivable$87$189▲ $102
Total Assets$1,471,804$1,583,111▲ $111,307
Other Assets Total$739,013$873,256▲ $134,243
Liabilities
Unsecured Notes Loans Payable$23,352--
Accounts Payable and Accrued Expenses$12$12→ $0
Total Liabilities$23,364$12▼ $23,352
Net Assets / Fund Balance
Net Assets With Donor Restrictions$798,528$945,002▲ $146,474
Net Assets Without Donor Restrictions$649,912$638,097▼ $11,815
Total Net Assets Fund Balance$1,448,440$1,583,099▲ $134,659
Total Liabilities and Net Assets / Fund Balance$1,471,804$1,583,111▲ $111,307

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$304,085$194,114$498,199
Buildings$223,268-$223,268
Land$84,456-$84,456
Equipment$8,052$35,678$43,730
Other Assets Org$500--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Aaron KepleyExecutive DiFT$32,490$32,490

Board Members and Trustees

NameTitle
Alexsandra AbramowskiPresident
Amy PruittDirector
Angela ThompsonDirector
Brenda GoodmanDirector
Clarence ShufordDirector
Doug GlasgowDirector
Graham CorriherDirector
James MillerDirector
John KeslerDirector
Joy FisherDirector
Judy HaireDirector
Julius WaggonerDirector
Kaye WilsonDirector
Michael BitzerDirector
Randy LassiterDirector
Stephen BrownDirector
Terry HoltDirector
Betty MickleSecretary
Larry BrownTreasurer
Norman RibelinVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$219,714
Program Service Revenue
$2,440
Investment Income
$61,161
Other Revenue
$11,841
All Other Contributions
$150,155
Change in Net Assets
$134,659
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$99,318
Other Expenses$61,179
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$55,420--$55,420
Occupancy$33,919--$33,919
Current Officers, Directors, Trustees, and Key Employees$16,245$16,245-$32,490
Payroll Taxes$5,489$1,252-$6,741
Other Employee Benefits$3,800$867-$4,667
Fees for Services Accounting-$3,775-$3,775
Other Expenses$2,587$6,116-$2,587
Office Expenses$1,083$765-$1,848
All Other Expenses$391$1,108-$1,499
Depreciation Depletion-$478-$478
Advertising$441--$441
Total Functional Expenses$129,891$30,606$0$160,497
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$23,276
Fundraising Direct Expenses$5,362
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Other Events$20,756$20,756$4,183$16,573
Antique Show$7,170$2,520$1,179$1,341
Total Events$27,926$23,276$5,362$17,914
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 35% controlled entity
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 N MAIN STREET, SALISBURY, NC 28144
Doing Business As
Co Aaron Kepley

Signing Officer

Name
Larry Brown
Title
Treasurer
Phone
7046335946
Signed
2022-06-23

Organization Details

Principal Officer
Larry Brown
Formed
1953
Legal Domicile
Nc
Voting Board Members
20
Independent Board Members
20
Employees
9
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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IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 93,234
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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