Civic Intelligence

Isothermal Planning and Development Corporation

990 • Fiscal year 2018 • EIN 56-1074128

Jul 01, 2017 to Jun 30, 2018 • Filed on May 10, 2019

P O Box 841Rutherfordton, NC 28139-0841

(828) 287-2281

Siviq Scores

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

Liabilities / Assets

71st percentile

0.47x

Higher debt load relative to assets than 71% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

33rd percentile

0.12x

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

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

39th percentile

0.7%

Higher net margin than 39% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

29th percentile

$119,853

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

63rd percentile

5.5%

Faster asset growth than 63% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

34th percentile

-0.8%

Faster revenue growth than 34% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Up

$3,069,036

Up $160,755 (+5.5%) from 2017

Net Assets

Up

$1,621,022

Up $48,219 (+3.1%) from 2017

Liabilities

Up

$1,448,014

Up $112,536 (+8.4%) from 2017

Revenue

Down

$12,463,704

Down $100,237 (-0.8%) from 2017

Expenses

Down

$12,382,661

Down $45,814 (-0.4%) from 2017

Net Income

Down

$81,043

Down $54,423 (-40%) from 2017

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $3,212,149Liabilities 2011: $1,002,873Net Assets 2011: $2,209,2762011Assets 2012: $3,136,408Liabilities 2012: $1,027,713Net Assets 2012: $2,108,6952012Assets 2013: $2,774,131Liabilities 2013: $982,394Net Assets 2013: $1,791,7372013Assets 2014: $2,958,273Liabilities 2014: $972,849Net Assets 2014: $1,985,4242014Assets 2015: $2,622,532Liabilities 2015: $1,218,056Net Assets 2015: $1,404,4762015Assets 2016: $2,559,342Liabilities 2016: $1,143,433Net Assets 2016: $1,415,9092016Assets 2017: $2,908,281Liabilities 2017: $1,335,478Net Assets 2017: $1,572,8032017Assets 2018: $3,069,036Liabilities 2018: $1,448,014Net Assets 2018: $1,621,0222018Assets 2019: $3,672,693Liabilities 2019: $1,995,547Net Assets 2019: $1,677,1462019Assets 2020: $3,387,268Liabilities 2020: $1,796,060Net Assets 2020: $1,591,2082020Assets 2021: $2,723,931Liabilities 2021: $1,506,468Net Assets 2021: $1,217,4632021Assets 2022: $4,211,079Liabilities 2022: $2,390,816Net Assets 2022: $1,820,2632022Assets 2023: $4,895,290Liabilities 2023: $3,070,703Net Assets 2023: $1,824,5872023Assets 2024: $5,602,984Liabilities 2024: $2,825,778Net Assets 2024: $2,777,2062024

Highlighted filing

2018

Assets$3,069,036
Liabilities$1,448,014
Net Assets$1,621,022

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $16,475,399Expenses 2011: $16,340,724Net Income 2011: $134,6752011Expenses 2012: $15,078,1732012Expenses 2013: $14,251,6222013Revenue 2014: $13,420,578Expenses 2014: $13,282,978Net Income 2014: $137,6002014Revenue 2015: $12,668,182Expenses 2015: $13,000,237Net Income 2015: -$332,0552015Revenue 2016: $12,366,199Expenses 2016: $12,340,535Net Income 2016: $25,6642016Revenue 2017: $12,563,941Expenses 2017: $12,428,475Net Income 2017: $135,4662017Revenue 2018: $12,463,704Expenses 2018: $12,382,661Net Income 2018: $81,0432018Revenue 2019: $12,555,375Expenses 2019: $12,493,679Net Income 2019: $61,6962019Revenue 2020: $12,455,360Expenses 2020: $12,535,726Net Income 2020: -$80,3662020Revenue 2021: $12,249,025Expenses 2021: $12,629,140Net Income 2021: -$380,1152021Revenue 2022: $12,785,963Expenses 2022: $12,409,223Net Income 2022: $376,7402022Revenue 2023: $12,983,911Expenses 2023: $12,979,587Net Income 2023: $4,3242023Revenue 2024: $14,572,155Expenses 2024: $13,619,536Net Income 2024: $952,6192024

Highlighted filing

2018

Revenue$12,463,704
Expenses$12,382,661
Net Income$81,043
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 10, 2019
Return Version
2017v2.3
Gross Receipts
$12,463,704
Mission and Program Overview

Mission

To assist local governments within a four-county region in North Carolina in planning for common needs, cooperating for mutual benefit, and coordinating for sound regional development. Isothermal administers a wide variety of government grants.

Administer a wide variety of government grants.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,015,582$1,185,418▲ $169,836
Accounts Receivable$638,839$598,152▼ $40,687
Investments Other Securities$530,184$540,312▲ $10,128
Cash and Non-Interest-Bearing Accounts$204,066$230,915▲ $26,849
Land, Buildings, and Equipment, Net$235,693$223,563▼ $12,130
Prepaid Expenses and Deferred Charges$4,449$4,963▲ $514
Total Assets$2,908,281$3,069,036▲ $160,755
Other Assets Total$279,468$285,713▲ $6,245
Liabilities
Accounts Payable and Accrued Expenses$769,494$913,469▲ $143,975
Other Liabilities$444,256$341,946▼ $102,310
Deferred Revenue$28,664$127,218▲ $98,554
Escrow Account Liability$70,289$47,004▼ $23,285
Mortgage Notes Payable Secured by Investment Property$22,775$18,377▼ $4,398
Total Liabilities$1,335,478$1,448,014▲ $112,536
Net Assets / Fund Balance
Unrestricted Net Assets$1,572,803$1,621,022▲ $48,219
Total Net Assets Fund Balance$1,572,803$1,621,022▲ $48,219
Total Liabilities and Net Assets / Fund Balance$2,908,281$3,069,036▲ $160,755

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$60,740$196,656$257,396
Buildings$135,223$113,177$248,400
Land$27,600-$27,600
Other Assets Org$22,932--
Other Securities$540,312--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott DadsonExecutive DiFT$92,489$27,364$119,853

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Caitlin Station LPSection 8 ContrPO BOX 3076, Shelby, NC 28151-3076$263,031
Ashley Meadows LLCSection 8 Contr6 FANEUIL HALL MARKET PLACE, Boston, MA 02109$234,556
Champion InvestmentsSection 8 Contr113 ASHLEY MEADOWS CIRCLE, Columbus, NC 28722$200,658
Washington SquareSection 8 ContrPO BOX 3076, Shelby, NC 28151-3076$143,073
-Section 8 Contr397 SEATTLE ST, Shelby, NC 28152$133,353
Revenue and Support

Revenue Composition

Contributions and Grants
$36,913
Program Service Revenue
$12,413,824
Investment Income
$12,967
Other Revenue
$0
All Other Contributions
$36,913
Change in Net Assets
$81,043

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,463,704
Revenue Not Reported on Form 990
$42,603
Total Revenue per Audited Statements
$12,506,307
Total Revenue per Form 990
$12,463,704
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,275,934
Other Expenses$4,097,192
Salaries, Compensation, and Employee Benefits$2,009,535
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$6,275,934--$6,275,934
Fees for Services Other$3,494,883$43,142-$3,538,025
Other Salaries and Wages$1,188,764$236,510-$1,425,274
Other Employee Benefits$351,175$108,557-$459,732
Current Officers, Directors, Trustees, and Key Employees$124,529--$124,529
Occupancy$52,582$22,254-$74,836
Travel$60,012$4,136-$64,148
Information Technology$45,593$9,357-$54,950
Fees for Services Accounting$14,200$17,200-$31,400
Other Expenses$29,023$2,078-$31,101
Insurance-$29,653-$29,653
Depreciation Depletion$6,684$15,386-$22,070
Conferences and Meetings$19,835$1,280-$21,115
All Other Expenses$10,936--$10,936
Advertising$4,786$507-$5,293
Total Functional Expenses$11,856,273$526,388$0$12,382,661

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$12,430,836
Expenses per Audited Statements$12,382,661
Total Expenses per Form 990$12,382,661
Expenses Not Reported on Form 990$48,175
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
Net Pension Liability$240,310
Compensated Absences$70,285
Deferred Inflows - Pensions$31,351
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
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 organization's executive committee and management reviews and approves form 990 prior to its filing. All other board members receive copies of form 990 and have the opportunity to make comments to management.

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

The board of directors reviews in a timely manner all disclosures required to be made by officers, directors and key employees to insure compliance with the conflict of interest policy.

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

The board of directors annually review the compensation of the organization's executive director to insure the reasonableness of his compensation package.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, financial statements and conflict of interest policy available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
Isothermal Planning and Development
EIN
56-1074128
Phone
8282872281
Address
P O BOX 841, RUTHERFORDTON, NC 28139-0841

Signing Officer

Name
Fred Baisden
Title
Chairman
Phone
8282872281
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fred Baisden
Formed
1966
Legal Domicile
Nc
Voting Board Members
34
Independent Board Members
34
Employees
98

Preparer

Firm
Carl E Shaw CPA Pllc
Address
220 3RD AVE W, HENDERSONVILLE, NC 28739
Preparer
Carl E Shaw CPA
Phone
8286987725
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To assist local governments within a four-county region in north carolina in planning for common needs, cooperating for mutual benefit, and coordinating for sound regional development. Isothermal administers a wide variety of government grants.

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

Isothermal planning and development commission administers governmental grants to a four-county region for a variety of other programs. The expenses shown are incurred in the operation of the programs. Expenses 285,918 including grants of 0 revenues 436,505

Form 990, Part IX, Line 11G

Aging services 2,466,381 0 0 wioa services 803,667 0 0 local services 200,161 0 0 section 8 services 24,674 0 0 indirect cost contract svs 0 43,142 0 total 3,494,883 43,142 0

Form 990, Part XI, Line 9

Ombudsman in-kind rev 42,603 indirect cost use allowance -48,175 total -5,572

Form 990, Part XII

Line 2c: there has been no change in the organization's review process.

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

The commission operates a financial self-sufficiency program where participants earn funds through their program participation. Amounts earned are held in escrow until the participant completes the program requirements.

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

Indirect cost use allowance 5,572

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IRS990/Form990PartVIISectionAGrp/TitleTxt33DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt34EXECUTIVE DI
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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.$5.60$2.83$2.78$14.6$13.6$0.95
2023Detailed filing. Detailed filing data is available for this year.$4.90$3.07$1.82$13.0$13.0$0.00
2022Detailed filing. Detailed filing data is available for this year.$4.21$2.39$1.82$12.8$12.4$0.38
2021Detailed filing. Detailed filing data is available for this year.$2.72$1.51$1.22$12.2$12.6$0.38
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.39$1.80$1.59$12.5$12.5$0.08
2019Detailed filing. Detailed filing data is available for this year.$3.67$2.00$1.68$12.6$12.5$0.06
2018Detailed filing. Detailed filing data is available for this year.$3.07$1.45$1.62$12.5$12.4$0.08
2017Detailed filing. Detailed filing data is available for this year.$2.91$1.34$1.57$12.6$12.4$0.14
2016Detailed filing. Detailed filing data is available for this year.$2.56$1.14$1.42$12.4$12.3$0.03
2015Detailed filing. Detailed filing data is available for this year.$2.62$1.22$1.40$12.7$13.0$0.33
2014Detailed filing. Detailed filing data is available for this year.$2.96$0.97$1.99$13.4$13.3$0.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.77$0.98$1.79$14.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.14$1.03$2.11$15.1
2011Summary only. Only limited summary data is available for this year.$3.21$1.00$2.21$16.5$16.3$0.13