Civic Intelligence

Salisbury-Rowan Economic Development Commission

990 • Fiscal year 2017 • EIN 56-1442745

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 03, 2017

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.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

33rd percentile

0.00x

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

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Net Margin

23rd percentile

-8.2%

Higher net margin than 23% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

68th percentile

$0

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Asset Growth

13th percentile

-9.1%

Faster asset growth than 13% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

62nd percentile

6.9%

Faster revenue growth than 62% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Down

$520,482

Down $52,236 (-9.1%) from 2016

Net Assets

Down

$520,482

Down $52,236 (-9.1%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin23rd percentile

Revenue

Up

$637,654

Up $40,901 (+6.9%) from 2016

Expenses

Up

$689,890

Up $87,056 (+14%) from 2016

Net Income

Down

-$52,236

Down $46,155 (-759%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth13th 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

2017

Assets$520,482
Liabilities$0
Net Assets$520,482
Open 2017 Filing

Operations Trend

Revenue Growth62nd 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

2017

Revenue$637,654
Expenses$689,890
Net Income-$52,236
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 3, 2017
Return Version
2016v3.0
Gross Receipts
$637,654
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$404,929$410,066▲ $5,137
Cash and Non-Interest-Bearing Accounts$159,285$99,275▼ $60,010
Land, Buildings, and Equipment, Net$8,504$8,955▲ $451
Accounts Receivable-$2,186-
Total Assets$572,718$520,482▼ $52,236
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$346,309$384,858▲ $38,549
Temporarily Rstr Net Assets$226,409$135,624▼ $90,785
Total Net Assets Fund Balance$572,718$520,482▼ $52,236
Total Liabilities and Net Assets / Fund Balance$572,718$520,482▼ $52,236

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,955$36,914$45,869
Leasehold Improvements-$22,000$22,000
Compensation and Service Providers
Top Officer Pay68th percentile

Board Members and Trustees

NameTitle
Stephen KiddChairman
Bryan OvercashVice-chairma
Darise D CaldwellBoard Member
Denise a HallettBoard Member
Dyke MessingerBoard Member
E Hayes SmithBoard Member
Rick L HudsonBoard Member
Shawn E AdelsbergerBoard Member
Dan PetersSecretary
Matt BarrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$625,973
Program Service Revenue
$0
Investment Income
$1,014
Other Revenue
$10,667
All Other Contributions
$4,000
Change in Net Assets
$-52,236

Audited Revenue Reconciliation

Revenue per Audited Statements
$637,654
Total Revenue per Audited Statements
$637,654
Total Revenue per Form 990
$637,654
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$372,577
Other Expenses$287,313
Grants and Similar Amounts Paid$30,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$289,549--$289,549
Fees for Services Other$73,114--$73,114
Other Employee Benefits$39,825--$39,825
Conferences and Meetings$38,978--$38,978
Grants to Domestic Orgs$30,000--$30,000
Advertising$25,012--$25,012
Pension Plan Contributions$22,420--$22,420
Payroll Taxes$20,783--$20,783
Occupancy$19,820--$19,820
Office Expenses$13,061--$13,061
Travel$12,906--$12,906
Fees for Services Accounting$5,000--$5,000
Insurance$3,584--$3,584
All Other Expenses$3,028--$3,028
Depreciation Depletion$2,764--$2,764
Other Expenses$1,857--$1,857
Total Functional Expenses$689,890$0$0$689,890

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$689,890
Total Expenses per Audited Statements$689,890
Total Expenses per Form 990$689,890
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Agility Fuel Systems IncSalisbury, NC-Passthru Incentive$30,000
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
2017-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rodney a Crider
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.”

Form 990, Part IX, Line 11G

“Nb marketing consultants 16,176 0 0 nb marketing technical spt 15,138 0 0 mg marketing consultants 6,800 0 0 executive search consultants 35,000 0 0 total 73,114 0 0”

Raw XML Appendix373 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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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt022000
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt022000
IRS990ScheduleD/RevenueSubtotalAmt0637654
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08955
IRS990ScheduleD/TotalExpensesPerForm990Amt0689890
IRS990ScheduleD/TotalRevenuePerForm990Amt0637654
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0637654
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0689890
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt030000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0PASSTHRU INCENTIVE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0AGILITY FUEL SYSTEMS INC
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01010 CORPORATE CENTER DR
IRS990ScheduleI/RecipientTable/USAddress/CityNm0SALISBURY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd028146
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ECONOMIC AND INDUSTRIAL DEVELOPMENT IN ROWAN COUNTY, NC.
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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4YES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5YES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7NB MARKETING CONSULTANTS 16,176 0 0 NB MARKETING TECHNICAL SPT 15,138 0 0 MG MARKETING CONSULTANTS 6,800 0 0 EXECUTIVE SEARCH CONSULTANTS 35,000 0 0 TOTAL 73,114 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0226409
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0135624
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0572718
IRS990/TotalAssetsEOYAmt0520482
IRS990/TotalAssetsGrp/BOYAmt0572718
IRS990/TotalAssetsGrp/EOYAmt0520482
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0625973
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0689890
IRS990/TotalFunctionalExpensesGrp/TotalAmt0689890
IRS990/TotalGrossUBIAmt010079
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0572718
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0520482
IRS990/TotalOtherProgSrvcExpenseAmt036599
IRS990/TotalProgramServiceExpensesAmt0689890
IRS990/TotalRevenueGrp/ExclusionAmt01014
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0588
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0637654
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt010079
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0572718
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0520482
IRS990/TravelGrp/ProgramServicesAmt012906
IRS990/TravelGrp/TotalAmt012906
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0346309
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0384858
IRS990/UponRequestInd0X
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/SignatureDt02017-11-03
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/FilingSecurityInformation/AtSubmissionCreationDeviceId065287B8C09AF9FEAB686B3A97258147CE3278017
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId065287B8C09AF9FEAB686B3A97258147CE3278017
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/PreparationDt02017-11-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J R DRISCOLL JR
ReturnHeader/ReturnTs02017-11-07T08:37:04-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$520,482
Liabilities
$0
Net assets
$520,482
Revenue
$637,654
Expenses
$689,890
Net income
-$52,236
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
2017Detailed filing. Detailed filing data is available for this year.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)4 • $500k-$1M nonprofits