Civic Intelligence

Secca Foundation

990 • Fiscal year 2022 • EIN 56-0656890

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

750 Marguerite DriveWinston Salem, NC 27106

(336) 725-1904

Siviq Scores

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

Liabilities / Assets

80th percentile

0.26x

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

2022 filings • NTEE A • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.06x

Higher debt load relative to revenue than 58% of similar nonprofits.

2022 filings • NTEE A • $500k-$1M nonprofits • Source year 2022

Net Margin

35th percentile

-1.5%

Higher net margin than 35% of similar nonprofits.

2022 filings • NTEE A • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

98th percentile

$157,675

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 18.8% of source-year revenue.

2022 filings • NTEE A • $500k-$1M nonprofits • Source year 2022

Asset Growth

22nd percentile

-11%

Faster asset growth than 22% of similar nonprofits.

2022 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

47th percentile

10%

Faster revenue growth than 47% of similar nonprofits.

2022 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$202,880

Down $24,337 (-11%) from 2021

Net Assets

Down

$149,783

Down $45,230 (-23%) from 2021

Liabilities

Up

$53,097

Up $20,893 (+65%) from 2021

Revenue

Up

$837,696

Up $78,540 (+10%) from 2021

Expenses

Up

$849,867

Up $121,631 (+17%) from 2021

Net Income

Down

-$12,171

Down $43,091 (-139%) from 2021

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2011: $422,873Liabilities 2011: $10,221Net Assets 2011: $412,6522011Assets 2012: $288,667Liabilities 2012: $65,173Net Assets 2012: $223,4942012Assets 2013: $186,912Liabilities 2013: $52,842Net Assets 2013: $134,0702013Assets 2014: $293,964Liabilities 2014: $65,349Net Assets 2014: $228,6152014Assets 2015: $311,305Liabilities 2015: $49,219Net Assets 2015: $262,0862015Assets 2016: $267,320Liabilities 2016: $15,850Net Assets 2016: $251,4702016Assets 2017: $271,107Liabilities 2017: $13,335Net Assets 2017: $257,7702017Assets 2018: $191,425Liabilities 2018: $41,977Net Assets 2018: $149,4482018Assets 2019: $206,036Liabilities 2019: $34,951Net Assets 2019: $171,0852019Assets 2020: $175,291Liabilities 2020: $37,019Net Assets 2020: $138,2722020Assets 2021: $227,217Liabilities 2021: $32,204Net Assets 2021: $195,0132021Assets 2022: $202,880Liabilities 2022: $53,097Net Assets 2022: $149,7832022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2022

Assets$202,880
Liabilities$53,097
Net Assets$149,783

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $944,919Expenses 2011: $765,154Net Income 2011: $179,7652011Revenue 2012: $921,594Expenses 2012: $1,105,634Net Income 2012: -$184,0402012Revenue 2013: $787,619Expenses 2013: $887,572Net Income 2013: -$99,9532013Revenue 2014: $923,759Expenses 2014: $840,173Net Income 2014: $83,5862014Revenue 2015: $943,602Expenses 2015: $902,351Net Income 2015: $41,2512015Revenue 2016: $944,077Expenses 2016: $843,156Net Income 2016: $100,9212016Revenue 2017: $834,444Expenses 2017: $840,458Net Income 2017: -$6,0142017Revenue 2018: $707,279Expenses 2018: $822,721Net Income 2018: -$115,4422018Revenue 2019: $707,194Expenses 2019: $680,093Net Income 2019: $27,1012019Revenue 2020: $631,952Expenses 2020: $662,614Net Income 2020: -$30,6622020Revenue 2021: $759,156Expenses 2021: $728,236Net Income 2021: $30,9202021Revenue 2022: $837,696Expenses 2022: $849,867Net Income 2022: -$12,1712022Revenue 2023: $1,111,449Expenses 2023: $1,261,889Net Income 2023: -$150,4402023

Highlighted filing

2022

Revenue$837,696
Expenses$849,867
Net Income-$12,171
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$840,490
Mission and Program Overview

Mission

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$106,313$89,528▼ $16,785
Investments Other Securities$106,211$81,655▼ $24,556
Pledges and Grants Receivable$8,200$22,000▲ $13,800
Accounts Receivable$5,522$8,303▲ $2,781
Prepaid Expenses and Deferred Charges$971$1,394▲ $423
Total Assets$227,217$202,880▼ $24,337
Liabilities
Accounts Payable and Accrued Expenses$31,489$53,097▲ $21,608
Other Liabilities$715--
Total Liabilities$32,204$53,097▲ $20,893
Net Assets / Fund Balance
Net Assets With Donor Restrictions$138,089$126,107▼ $11,982
Net Assets Without Donor Restrictions$56,924$23,676▼ $33,248
Total Net Assets Fund Balance$195,013$149,783▼ $45,230
Total Liabilities and Net Assets / Fund Balance$227,217$202,880▼ $24,337

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$81,655--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$106,211-▼ $24,556-$81,655
2021$96,072-▲ $33,078$22,939$106,211
2020$102,032-▲ $1,837$7,797$96,072
2019$100,305-▲ $1,727-$102,032
2018$105,033-▲ $11,440$16,168$100,305
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Bill CarpenterExecutive DirectorFT$157,675$157,675

Board Members and Trustees

NameTitle
Lindsey SchwabPresident
Amy LanningBoard Member
Ashley GivensBoard Member
Chad DownardBoard Member
Forrest StatonBoard Member
Frank CampionBoard Member
Jane ClarkeBoard Member
Jennifer WoodwardBoard Member
Lisa FoxBoard Member
Mason FreemanBoard Member
Mo McCraeBoard Member
Nikita WallaceBoard Member
Pete FalaBoard Member
Redge HanesBoard Member
Sheldon MoserBoard Member
Skip DunnBoard Member
Tripp GreasonBoard Member
Gloria Ysasi-DiazTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$670,292
Program Service Revenue
$90,991
Investment Income
$8,503
Other Revenue
$67,910
All Other Contributions
$604,283
Change in Net Assets
$-12,171

Audited Revenue Reconciliation

Revenue per Audited Statements
$837,696
Revenue Not Reported on Form 990
$-13,065
Total Revenue per Audited Statements
$824,631
Total Revenue per Form 990
$837,696
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$464,105
Salaries, Compensation, and Employee Benefits$385,762
Total Fundraising Expense$162,430
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$221,852$40,060$51,444$313,356
Fees for Services Other$84,240$8,924$17,997$111,161
Office Expenses$72,977$2,778$5,060$80,815
Travel$12,502$800$30,677$43,979
Fees for Services Accounting$29,763$6,470$6,902$43,135
Pension Plan Contributions$22,218$4,830$5,152$32,200
Payroll Taxes$20,089$3,585$4,658$28,332
Occupancy$12,528$2,723$11,905$27,156
All Other Expenses$5,804$9,508$1,879$17,191
Other Expenses$21,897$11,447$12,629$12,629
Other Employee Benefits$8,193$1,781$1,900$11,874
Insurance$3,925$430$910$5,265
Total Functional Expenses$594,101$93,336$162,430$849,867

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$869,861
Expenses per Audited Statements$849,867
Total Expenses per Form 990$849,867
Expenses Not Reported on Form 990$19,994
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Simple IRA Withheld-
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 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
Yes
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 7A

Election of members and their rights The Museum, the North Carolina Department of Cultural Resources, and the James G. Hanes Foundation can all elect members to the Board of Directors.

Form 990, Part VI, Section A, Line 7B

Decisions subject to approval of members The SECCA Foundation board is set up to govern the SECA Foundation, whose sole purpose is to provide support and funding to the State entity that is the Southeastern Center for Contemporary Art. The State of North Carolina through the Department of Cultural Resources has the final say on any program and/or operating policy that involves SECCA.

Form 990, Part VI, Section B, Line 11B

Organizations process to review form 990 The Board Treasurer reviews the 990 prior to filing.

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

Enforcement of conflicts policy The SECCA Foundation has a conflict of interest policy in place that defines a conflict of interest and procedures for ensuring that conflicts do not arise. Each newly elected board member is required to agree and adhere to the policy with their signature on the document. Each year, at the annual meeting, the conflict of interest policy is reviewed, amended and each board member is required to sign the updated version.

Form 990, Part VI, Section B, Line 15A

Compensation process for top official The Executive Director is an employee of the State of North Carolina and is not employed by the SECCA Foundation. As Executive Director, this position supervises all SECCA employees, including State and Foundation employees. The Executive Directors salary is set and determined by the State of North Carolinas Office of State Personnel in conjunction with the NC Department of Cultural Resources and the NC Museum of Art.

Form 990, Part VI, Section C, Line 19

Governing documents disclosure explanation All governing documents, conflict of interest policy and financial statements are available to the public upon request. Requests should be in writing and nothing will be sent via electronic means, but through US Post or hand delivery.

Filing and Contact Details

Filer

Filer Name
SECCA Foundation
EIN
56-0656890
Phone
3367251904
Address
750 Marguerite Drive, Winston Salem, NC 27106

Signing Officer

Name
Gloria Ysasi-Diaz
Title
Treasurer
Phone
3367251904
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gloria Ysasi-Diaz
Formed
1956
Legal Domicile
Nc
Voting Board Members
18
Independent Board Members
18
Employees
12
Volunteers
18

Preparer

Firm
Outfitters4 Inc
Address
715 Coliseum Dr NW Suite 100, Winston Salem, NC 27106
Preparer
Brittany Emery
Phone
8889299499
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

Form 990 - Organizations mission or most significant activities The Southeastern Center for Contemporary Art offers numerous ways to experience the art of our time. Through visual art exhibitions, music, dance, theater, and education we start conversations that engage diverse communities and perspectives.

Form 990, Part IX, Line 11G

Grounds Maintenance Program 11,598, Management 3,965, Fundraising 4,114, Total 19,677 Janitorial Services Program 15,774, Management 3,372, Fundraising 3,597, Total 22,743 Contract Labor Program 56,868, Management 1,587, Fundraising 10,286, Total 68,741

Form 990, Part III, Line 1

Form 990 - Organizations mission or most significant activities The Southeastern Center for Contemporary Art offers numerous ways to experience the art of our time. Through visual art exhibitions, music, dance, theater, and education we start conversations that engage diverse communities and perspectives.

Financial Statement Notes

XI 4B

Rental Expense Included on 990 Part VIII, 1d but incuded in expenses on Audit.

XII 4B

Rental Expense Included on 990 Part VIII, 1d but incuded in expenses on Audit.

V 4

Intended uses for endowment funds endowment earnings are used to fund educational programs

X 2

The Internal Revenue Service recognizes the Foundation as a not-for-profit organization under Internal Revenue Code Section 501c3. As a result, it has been determined to be exempt from federal and state income taxes.

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