Civic Intelligence

Salisbury-Rowan Economic Development Commission

990 • Fiscal year 2016 • EIN 56-1442745

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 10, 2016

Organization ProfileWWW.ROWANWORKS.COM

View Organization Page

204 East Innes StreetSalisbury, NC 28144

(704) 637-5526

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Net Margin

33rd percentile

-1.0%

Higher net margin than 33% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

94th percentile

$122,698

Higher top officer pay than 94% of similar nonprofits.

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

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Asset Growth

34th percentile

-1.1%

Faster asset growth than 34% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

11th percentile

-22%

Faster revenue growth than 11% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Down

$572,718

Down $6,081 (-1.1%) from 2015

Net Assets

Down

$572,718

Down $6,081 (-1.1%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin33rd percentile

Revenue

Down

$596,753

Down $168,901 (-22%) from 2015

Expenses

Down

$602,834

Down $13,017 (-2.1%) from 2015

Net Income

Down

-$6,081

Down $155,884 (-104%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

$800K$600K$400K$200K$0Assets 2011: $454,337Liabilities 2011: $0Net Assets 2011: $454,3372011Assets 2012: $423,668Liabilities 2012: $0Net Assets 2012: $423,6682012Assets 2013: $482,573Liabilities 2013: $0Net Assets 2013: $482,5732013Assets 2014: $428,996Liabilities 2014: $0Net Assets 2014: $428,9962014Assets 2015: $578,799Liabilities 2015: $0Net Assets 2015: $578,7992015Assets 2016: $572,718Liabilities 2016: $0Net Assets 2016: $572,7182016Assets 2017: $520,482Liabilities 2017: $0Net Assets 2017: $520,4822017Assets 2018: $521,239Liabilities 2018: $0Net Assets 2018: $521,2392018Assets 2019: $574,857Liabilities 2019: $0Net Assets 2019: $574,8572019Assets 2020: $340,059Liabilities 2020: $3,813Net Assets 2020: $336,2462020Assets 2021: $483,390Liabilities 2021: $410Net Assets 2021: $482,9802021Assets 2022: $595,021Liabilities 2022: $2,509Net Assets 2022: $592,5122022Assets 2023: $671,419Liabilities 2023: $2,510Net Assets 2023: $668,9092023Assets 2024: $467,256Liabilities 2024: $2,069Net Assets 2024: $465,1872024

Highlighted filing

2016

Assets$572,718
Liabilities$0
Net Assets$572,718
Open 2016 Filing

Operations Trend

Revenue Growth11th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $487,830Expenses 2011: $521,351Net Income 2011: -$33,5212011Revenue 2012: $420,232Expenses 2012: $450,901Net Income 2012: -$30,6692012Revenue 2013: $531,491Expenses 2013: $472,586Net Income 2013: $58,9052013Revenue 2014: $514,400Expenses 2014: $567,977Net Income 2014: -$53,5772014Revenue 2015: $765,654Expenses 2015: $615,851Net Income 2015: $149,8032015Revenue 2016: $596,753Expenses 2016: $602,834Net Income 2016: -$6,0812016Revenue 2017: $637,654Expenses 2017: $689,890Net Income 2017: -$52,2362017Revenue 2018: $790,851Expenses 2018: $790,094Net Income 2018: $7572018Revenue 2019: $935,305Expenses 2019: $881,687Net Income 2019: $53,6182019Revenue 2020: $885,306Expenses 2020: $1,123,917Net Income 2020: -$238,6112020Revenue 2021: $615,272Expenses 2021: $490,899Net Income 2021: $124,3732021Revenue 2022: $1,162,948Expenses 2022: $1,053,416Net Income 2022: $109,5322022Revenue 2023: $1,182,628Expenses 2023: $1,106,231Net Income 2023: $76,3972023Revenue 2024: $1,164,833Expenses 2024: $1,368,555Net Income 2024: -$203,7222024

Highlighted filing

2016

Revenue$596,753
Expenses$602,834
Net Income-$6,081
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 10, 2016
Return Version
2015v2.1
Gross Receipts
$596,753
Mission and Program Overview

Mission

Promoting economic and industrial development in rowan county, north carolina

To promote economic and industrial development in rowan county, nc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$254,855$404,929▲ $150,074
Cash and Non-Interest-Bearing Accounts$317,076$159,285▼ $157,791
Land, Buildings, and Equipment, Net$6,868$8,504▲ $1,636
Total Assets$578,799$572,718▼ $6,081
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$288,047$346,309▲ $58,262
Temporarily Rstr Net Assets$290,752$226,409▼ $64,343
Total Net Assets Fund Balance$578,799$572,718▼ $6,081
Total Liabilities and Net Assets / Fund Balance$578,799$572,718▼ $6,081

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$93,856-$93,856
Equipment$-63,352$82,417$19,065
Leasehold Improvements$-22,000$22,000-
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleBaseTotal
Robert M Van GeonsExecutive Di$122,698$122,698

Board Members and Trustees

NameTitle
Stephen KiddChairman
Darlene P BlountSecretary
Bryan OvercashTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$584,526
Program Service Revenue
$0
Investment Income
$1,069
Other Revenue
$11,158
All Other Contributions
$41,300
Change in Net Assets
$-6,081
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$341,154
Other Expenses$261,680
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$259,885--$259,885
Advertising$52,902--$52,902
Other Employee Benefits$35,755--$35,755
Pension Plan Contributions$24,765--$24,765
Payroll Taxes$20,749--$20,749
Conferences and Meetings$20,415--$20,415
All Other Expenses$19,134--$19,134
Occupancy$15,184--$15,184
Travel$14,220--$14,220
Fees for Services Other$12,015--$12,015
Other Expenses$11,391--$11,391
Office Expenses$9,892--$9,892
Insurance$5,080--$5,080
Fees for Services Accounting$4,725--$4,725
Depreciation Depletion$2,672--$2,672
Total Functional Expenses$602,834$0$0$602,834
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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 7A

“Appointed by various govertmental entities which comprise the members of the organization.”

Form 990, Page 6, Part VI, Line 11B

“Reviewed by treasurer prior to filing”

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

“Board memebers sign agreement to disclose any confict when assume position.”

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

“YES”

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

“YES”

Form 990, Page 6, Part VI, Line 19

“ON REQUEST”

Filing and Contact Details

Filer

Filer Name
Salisbury-rowan Economic
EIN
56-1442745
Phone
7046375526
Address
204 EAST INNES STREET, SALISBURY, NC 28144

Signing Officer

Name
Stephen Kidd
Title
Chairman
Phone
7046375526
Signed
2016-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Kidd
Formed
1984
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
4

Preparer

Firm
Sherrill & Smith Cpas Pa
Address
PO BOX 1327, SALISBURY, NC 28145-1327
Preparer
J R Driscoll Jr
Phone
7046365211
Supplemental Narrative

Additional Explanations

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

“Economic and industrial development in rowan county, nc.”

Raw XML Appendix316 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1APPOINTED BY VARIOUS GOVERTMENTAL ENTITIES WHICH COMPRISE THE MEMBERS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED BY TREASURER PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMEBERS SIGN AGREEMENT TO DISCLOSE ANY CONFICT WHEN ASSUME POSITION.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5YES
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0127 N FULTON ST
IRS990/USAddress/CityNm0SALISBURY
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028145
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0HTTP://WWW.ROWANWORKS.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN KIDD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07046375526
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SALISBURY-ROWAN ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT COMMISSION
ReturnHeader/Filer/BusinessNameControlTxt0SALI
ReturnHeader/Filer/EIN0561442745
ReturnHeader/Filer/PhoneNum07046375526
ReturnHeader/Filer/USAddress/AddressLine1Txt0204 EAST INNES STREET
ReturnHeader/Filer/USAddress/CityNm0SALISBURY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028144
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0562156279
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHERRILL & SMITH CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1327
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SALISBURY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0281451327
ReturnHeader/PreparerPersonGrp/PhoneNum07046365211
ReturnHeader/PreparerPersonGrp/PreparationDt02016-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J R DRISCOLL JR
ReturnHeader/ReturnTs02016-11-14T11:51:50-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$572,718
Liabilities
$0
Net assets
$572,718
Revenue
$596,753
Expenses
$602,834
Net income
-$6,081
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.47$0.00$0.47$1.16$1.37$0.20
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.67$0.00$0.67$1.18$1.11$0.08
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.60$0.00$0.59$1.16$1.05$0.11
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.00$0.48$0.62$0.49$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.00$0.34$0.89$1.12$0.24
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.00$0.57$0.94$0.88$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.52$0.00$0.52$0.79$0.79$0.00
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.00$0.52$0.64$0.69$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$0.60$0.60$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.58$0.00$0.58$0.77$0.62$0.15
2014Summary only. Only limited summary data is available for this year.$0.43$0.00$0.43$0.51$0.57$0.05
2013Summary only. Only limited summary data is available for this year.$0.48$0.00$0.48$0.53$0.47$0.06
2012Summary only. Only limited summary data is available for this year.$0.42$0.00$0.42$0.42$0.45$0.03
2011Summary only. Only limited summary data is available for this year.$0.45$0.00$0.45$0.49$0.52$0.03