Civic Intelligence

Salisbury Rowan Community Action Agency Inc.

990 • Fiscal year 2018 • EIN 56-0840196

Nov 01, 2017 to Oct 31, 2018 • Filed on Sep 11, 2019

1300 W Bank StreetSalisbury, NC 28144

(704) 633-6633

Siviq Scores

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

Liabilities / Assets

77th percentile

0.63x

Higher debt load relative to assets than 77% of similar nonprofits.

2018 filings • NTEE P • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

33rd percentile

0.13x

Higher debt load relative to revenue than 33% of similar nonprofits.

2018 filings • NTEE P • $10M-$25M nonprofits • Source year 2018

Net Margin

30th percentile

-0.4%

Higher net margin than 30% of similar nonprofits.

2018 filings • NTEE P • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

9th percentile

$46,879

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2018 filings • NTEE P • $10M-$25M nonprofits • Source year 2018

Asset Growth

73rd percentile

10%

Faster asset growth than 73% of similar nonprofits.

2018 filings • NTEE P • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

32nd percentile

0.6%

Faster revenue growth than 32% of similar nonprofits.

2018 filings • NTEE P • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Up

$2,143,653

Up $195,415 (+10%) from 2017

Net Assets

Down

$786,065

Down $39,266 (-4.8%) from 2017

Liabilities

Up

$1,357,588

Up $234,681 (+21%) from 2017

Revenue

Up

$10,713,140

Up $68,100 (+0.6%) from 2017

Expenses

Up

$10,752,406

Up $43,533 (+0.4%) from 2017

Net Income

Up

-$39,266

Up $24,567 (+38%) from 2017

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,779,007Liabilities 2011: $1,573,565Net Assets 2011: $205,4422011Assets 2012: $3,948,703Liabilities 2012: $900,017Net Assets 2012: $3,048,6862012Assets 2013: $3,367,867Liabilities 2013: $641,980Net Assets 2013: $2,725,8872013Assets 2014: $3,335,994Liabilities 2014: $753,736Net Assets 2014: $2,582,2582014Assets 2015: $2,300,862Liabilities 2015: $731,794Net Assets 2015: $1,569,0682015Assets 2016: $2,096,425Liabilities 2016: $1,207,261Net Assets 2016: $889,1642016Assets 2017: $1,948,238Liabilities 2017: $1,122,907Net Assets 2017: $825,3312017Assets 2018: $2,143,653Liabilities 2018: $1,357,588Net Assets 2018: $786,0652018Assets 2019: $1,917,119Liabilities 2019: $1,103,737Net Assets 2019: $813,3822019Assets 2020: $2,816,573Liabilities 2020: $1,793,408Net Assets 2020: $1,023,1652020Assets 2021: $2,903,784Liabilities 2021: $1,727,604Net Assets 2021: $1,176,1802021Assets 2022: $1,643,803Liabilities 2022: $749,056Net Assets 2022: $894,7472022

Highlighted filing

2018

Assets$2,143,653
Liabilities$1,357,588
Net Assets$786,065

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $12,142,751Expenses 2011: $12,142,751Net Income 2011: $02011Expenses 2012: $11,496,8212012Expenses 2013: $11,407,4802013Revenue 2014: $11,684,784Expenses 2014: $11,828,413Net Income 2014: -$143,6292014Revenue 2015: $11,938,244Expenses 2015: $12,951,434Net Income 2015: -$1,013,1902015Revenue 2016: $11,494,088Expenses 2016: $12,140,070Net Income 2016: -$645,9822016Revenue 2017: $10,645,040Expenses 2017: $10,708,873Net Income 2017: -$63,8332017Revenue 2018: $10,713,140Expenses 2018: $10,752,406Net Income 2018: -$39,2662018Revenue 2019: $9,633,147Expenses 2019: $9,605,830Net Income 2019: $27,3172019Revenue 2020: $6,222,517Expenses 2020: $6,266,379Net Income 2020: -$43,8622020Revenue 2021: $6,530,452Expenses 2021: $6,582,874Net Income 2021: -$52,4222021Revenue 2022: $6,144,029Expenses 2022: $6,035,921Net Income 2022: $108,1082022

Highlighted filing

2018

Revenue$10,713,140
Expenses$10,752,406
Net Income-$39,266
Jump To
Filing Snapshot
Filing Period
Nov 1, 2017 to Oct 31, 2018
Signed
Sep 11, 2019
Return Version
2017v2.3
Gross Receipts
$10,713,140
Mission and Program Overview

Mission

Salisbury-rowan community action agency is committed to providing education, child care, and other services to the underprivileged residents of salisbury, north carolina and two surrounding counties.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,009,806$891,420▼ $118,386
Pledges and Grants Receivable$353,590$776,963▲ $423,373
Cash and Non-Interest-Bearing Accounts$406,472$268,368▼ $138,104
Accounts Receivable$104,556$106,995▲ $2,439
Savings and Temporary Cash Investments$73,814$99,907▲ $26,093
Total Assets$1,948,238$2,143,653▲ $195,415
Liabilities
Accounts Payable and Accrued Expenses$871,400$1,106,081▲ $234,681
Other Liabilities$251,507$251,507→ $0
Total Liabilities$1,122,907$1,357,588▲ $234,681
Net Assets / Fund Balance
Unrestricted Net Assets$815,302$776,008▼ $39,294
Permanently Rstr Net Assets$10,000$10,000→ $0
Temporarily Rstr Net Assets$29$57▲ $28
Total Net Assets Fund Balance$825,331$786,065▼ $39,266
Total Liabilities and Net Assets / Fund Balance$1,948,238$2,143,653▲ $195,415

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$153,759$2,335,622$2,489,381
Buildings$737,661$399,774$1,137,435

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$10,029-▲ $28-$10,057
2016$10,025-▲ $4-$10,029
2015$10,011-▲ $15-$10,025
2014$10,014-▲ $16-$10,011
2013$10,030-▲ $14$30$10,014
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tanya BranchInterim FinaFT$46,879-$46,879
Rocky CabagnotExecutive DiFT$38,791$4,331$43,122

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$10,692,611
Program Service Revenue
$0
Investment Income
$133
Other Revenue
$20,396
All Other Contributions
$4,779
Change in Net Assets
$-39,266

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,713,140
Revenue Not Reported on Form 990
$526,608
Total Revenue per Audited Statements
$11,239,748
Total Revenue per Form 990
$10,713,140
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,976,346
Other Expenses$2,776,060
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,008,400$296,066-$6,304,466
Other Employee Benefits$873,428$108,920-$982,348
Occupancy$485,954$28,439-$514,393
Payroll Taxes$415,908$51,866-$467,774
Fees for Services Other$286,702$17,155-$303,857
Office Expenses$85,878$143,483-$229,361
Travel$118,477$3,937-$122,414
Depreciation Depletion-$118,386-$118,386
Current Officers, Directors, Trustees, and Key Employees$64,187$48,168-$112,355
Pension Plan Contributions$97,273$12,130-$109,403
All Other Expenses$86,309$3,194-$89,503
Other Expenses$89,037$60-$89,097
Insurance$43,218$27,257-$70,475
Fees for Services Accounting-$67,125-$67,125
Fees for Services Legal-$7,402-$7,402
Total Functional Expenses$9,800,547$951,859$0$10,752,406

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$11,279,014
Expenses per Audited Statements$10,752,406
Total Expenses per Form 990$10,752,406
Expenses Not Reported on Form 990$526,608
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
Refund Due to Federal Agency$251,507
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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

Form 990 is reviewed by the finance committee and recommended to the board for approval prior to its filing.

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

The organization requires annual written representations from board members and officers regarding any known or potential conflict of interests. The representations are reviewed by the executive committee.

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

Salaries are reviewed. The organization receives a salary survey every two years from the nc community action association. The organization is also required to obtain head start's approval prior to hiring an executive director.

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

The organization is required to obtain head start's approval prior to hiring a director of finance. The organization is required to conduct an unbiased search for candidates using media outlets, search firms, and/or personal references as deemed appropriate.

Form 990, Page 6, Part VI, Line 19

No documents made available to the public.

Filing and Contact Details

Filer

Filer Name
Salisbury-rowan Community Action
EIN
56-0840196
Phone
7046336633
Address
1300 W BANK STREET, SALISBURY, NC 28144

Signing Officer

Name
Rocky Cabagnot
Title
Executive Director
Phone
7046336633
Signed
2019-09-11

Organization Details

Principal Officer
Rocky Cabagnot
Formed
1964
Legal Domicile
Nc
Voting Board Members
15
Independent Board Members
15
Employees
338
Volunteers
2,500

Preparer

Firm
Romeo Wiggins & Company Llp
Address
8210 CREEDMOOR RD 202, RALEIGH, NC 27613
Preparer
J Kelly Lanier
Phone
9198705151
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

- language and literacy - cognition and general knowledge - physical development and health - social and emotional development - approaches to learning head start provides comprehensive services to enrolled children and their families, which include health, nutrition, social services and other services determined to be necessary by family needs assessments, in addition to education and cognitive development services. Head start services are designed to be responsive to each child and family's ethnic, cultural and linguistic heritage. Head start emphasizes the role of parents as their child's first and most important teacher. Srcaa's family development specialists provide services and support to over 800 parents annually. The services and programs are designed to build relationships with families that support: - family well-being and positive parent-child relationships - families as learners and lifelong educators - families as advocates and leaders

Form 990, Page 2, Part III, Line 4B

Receive healthful meals and snacks. Staff and parents participate in training and educational programs on nutrition through cacfp. As a participating agency, srcaa maintains records that include daily attendance, meal counts, menus, enrolment and eligibility, along with training documentation for center personnel.

Form 990, Page 2, Part III, Line 4D

OTHER PROGRAM SERVICES.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Earnings from endowment funds are available to pay utility bills for low- income persons.

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IRS990/MissionDesc0SALISBURY-ROWAN COMMUNITY ACTION AGENCY IS COMMITTED TO PROVIDING EDUCATION, CHILD CARE, AND OTHER SERVICES TO THE UNDERPRIVILEGED RESIDENTS OF SALISBURY, NORTH CAROLINA AND TWO SURROUNDING COUNTIES.
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IRS990/OfficeExpensesGrp/ProgramServicesAmt085878
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IRS990/OtherExpensesGrp/Desc2REPAIRS & MAINTENANCE
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt25044
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IRS990/OtherExpensesGrp/TotalAmt297106
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IRS990/PrincipalOfficerNm0ROCKY CABAGNOT
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IRS990/ProgSrvcAccomActy2Grp/Desc0CHILD CARE FOOD PROGRAM - THE CHILD AND ADULT CARE FOOD PROGRAM (CACFP) IS AN IMPORTANT NUTRITION RESOURCE FOR CHILDREN PARTICIPATING IN SRCAA'S HEAD START PROGRAM. APPROXIMATELY 1,098 CHILDREN 0-5 YEARS OF AGE RECEIVE BREAKFAST, LUNCH AND SNACKS AS A RESULT OF THE PROGRAM. EACH DAY SRCAA SERVES 3,150 MEALS AND APPROXIMATELY 463,175 MEALS ARE SERVED EACH YEAR. CHILDREN IN THE HEAD START PROGRAM RECEIVE WELL-PLANNED MEALS AND SNACKS THAT PROVIDE A VARIETY OF FOODS AND THE NUTRIENTS NEEDED FOR GOOD HEALTH AND ENERGY. THE CACFP PROGRAM PROVIDES PROPER NUTRITION AND PLAYS AN ESSENTIAL ROLE IN YOUNG CHILDREN'S COGNITIVE, SOCIAL, EMOTIONAL, AND PHYSICAL HEALTH AND DEVELOPMENT. THE MAIN GOAL OF THE PROGRAM IS TO INSURE THAT CHILDREN RECEIVE HEALTHFUL MEALS AND SNACKS. STAFF AND PARENTS PARTICIPATE IN TRAINING AND EDUCATIONAL PROGRAMS ON NUTRITION THROUGH CACFP. AS A PARTICIPATING AGENCY, SRCAA MAINTAINS RECORDS THAT INCLUDE DAILY ATTENDANCE, MEAL COUNTS, MENUS, ENROLMENT AND ELIGIBILITY, ALONG WITH TRAINING DOCUMENTATION FOR CENTER PERSONNEL.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0918692
IRS990/ProgSrvcAccomActy3Grp/Desc0COMMUNITY SERVICES BLOCK GRANT - A FEDERAL, ANTI-POVERTY PROGRAM, SERVING FAMILIES AND INDIVIDUALS IN ROWAN AND CABARRUS COUNTY TO OBTAIN SELF- SUFFICIENCY. COMPREHENSIVE SERVICES ARE PROVIDED IN SUPPORT OF OBTAINING EMPLOYMENT, VOCATIONAL TRAINING AND INCOME MANAGEMENT.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER PROGRAM SERVICES.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0160928
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IRS990/PYTotalExpensesAmt010708873
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IRS990/ReconcilationRevenueExpnssAmt0-39266
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0613,084
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt010616212
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