Civic Intelligence

Salisbury-Rowan Economic Development Commission

990 • Fiscal year 2020 • EIN 56-1442745

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 23, 2020

Organization ProfileWWW.ROWANEDC.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

48th percentile

0.01x

Higher debt load relative to assets than 48% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

40th percentile

0.00x

Higher debt load relative to revenue than 40% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Net Margin

12th percentile

-27%

Higher net margin than 12% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

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.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Asset Growth

3rd percentile

-41%

Faster asset growth than 3% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

41st percentile

-5.3%

Faster revenue growth than 41% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets48th percentile

Assets

Down

$340,059

Down $234,798 (-41%) from 2019

Net Assets

Down

$336,246

Down $238,611 (-42%) from 2019

Liabilities

Up

$3,813

Up $3,813 from 2019

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin12th percentile

Revenue

Down

$885,306

Down $49,999 (-5.3%) from 2019

Expenses

Up

$1,123,917

Up $242,230 (+27%) from 2019

Net Income

Down

-$238,611

Down $292,229 (-545%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth3rd 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

2020

Assets$340,059
Liabilities$3,813
Net Assets$336,246
Open 2020 Filing

Operations Trend

Revenue Growth41st 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

2020

Revenue$885,306
Expenses$1,123,917
Net Income-$238,611
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 23, 2020
Return Version
2019v5.0
Gross Receipts
$885,306
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$544,166$256,504▼ $287,662
Cash and Non-Interest-Bearing Accounts$11,771$63,864▲ $52,093
Land, Buildings, and Equipment, Net$18,920$19,549▲ $629
Total Assets$574,857$340,059▼ $234,798
Other Assets Total-$142-
Liabilities
Other Liabilities-$3,813-
Total Liabilities$0$3,813▲ $3,813
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$423,580$236,349▼ $187,231
Net Assets With Donor Restrictions$151,277$99,897▼ $51,380
Total Net Assets Fund Balance$574,857$336,246▼ $238,611
Total Liabilities and Net Assets / Fund Balance$574,857$340,059▼ $234,798

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$19,549$36,828$56,377
Leasehold Improvements-$22,000$22,000
Compensation and Service Providers
Top Officer Pay68th percentile

Board Members and Trustees

NameTitle
Bryan OvercashChairman
Rodney a CriderPresident an
Denise a HallettVice-chairma
Breck DortonBoard Member
Dan PetersBoard Member
Greg M AndersonBoard Member
Lynn MoodyBoard Member
Matt BarrBoard Member
Nicole Holmes MatangriaBoard Member
Darise D CaldwellSecretary
Tim ProperTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$872,163
Program Service Revenue
$0
Investment Income
$2,338
Other Revenue
$10,805
All Other Contributions
$47,000
Change in Net Assets
$-238,611

Audited Revenue Reconciliation

Revenue per Audited Statements
$885,306
Total Revenue per Audited Statements
$885,306
Total Revenue per Form 990
$885,306
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$546,214
Other Expenses$340,253
Total Fundraising Expense$253,026
Professional Fundraising Fees$237,000
Grants and Similar Amounts Paid$450

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$257,595--$257,595
Fees for Services Professional Fundraising--$237,000$237,000
Current Officers, Directors, Trustees, and Key Employees$171,430--$171,430
Other Employee Benefits$48,641--$48,641
Pension Plan Contributions$37,715--$37,715
Travel$18,473-$15,684$34,157
Payroll Taxes$30,833--$30,833
Advertising$29,655--$29,655
Occupancy$24,008--$24,008
Fees for Services Other$22,586--$22,586
All Other Expenses$16,874--$16,874
Office Expenses$12,090-$342$12,432
Information Technology$10,691--$10,691
Other Expenses$10,376--$10,376
Conferences and Meetings$8,819--$8,819
Depreciation Depletion$5,934--$5,934
Fees for Services Accounting$5,193--$5,193
Insurance$4,069--$4,069
Grants to Domestic Orgs$450--$450
Total Functional Expenses$870,891$0$253,026$1,123,917

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,123,918
Expenses per Audited Statements$1,123,917
Total Expenses per Form 990$1,123,917
Expenses Not Reported on Form 990$1
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$237,000
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Employee Withholding$3,813
Governance and Compliance

Governance Checklist

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

“Included in annual budget approved by board of directors.”

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

“Included in annual budget approved by board of directors.”

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
Rodney a Crider
Title
President and CEO
Phone
7046375526
Signed
2020-10-23
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
5

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 XI, Line 9

“Book / tax depreciation difference -1”

Financial Statement Notes

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

“Book / tax depreciation difference 1”

Raw XML AppendixShowing 400 of 412 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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IRS990/PYGrantsAndSimilarPaidAmt025885
IRS990/PYInvestmentIncomeAmt04166
IRS990/PYOtherExpensesAmt0311708
IRS990/PYOtherRevenueAmt010574
IRS990/PYRevenuesLessExpensesAmt053618
IRS990/PYSalariesCompEmpBnftPaidAmt0544094
IRS990/PYTotalExpensesAmt0881687
IRS990/PYTotalRevenueAmt0935305
IRS990/ReconcilationRevenueExpnssAmt0-238611
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0544166
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0256504
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IRS990ScheduleC/OnlyInHouseLobbyingInd0true
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt019549
IRS990ScheduleD/EquipmentGrp/DepreciationAmt036828
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt056377
IRS990ScheduleD/ExpensesNotReportedAmt01
IRS990ScheduleD/ExpensesSubtotalAmt01123917
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt022000
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt022000
IRS990ScheduleD/OtherExpensesIncludedAmt01
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0EMPLOYEE WITHHOLDING
IRS990ScheduleD/RevenueSubtotalAmt0885306
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK / TAX DEPRECIATION DIFFERENCE 1
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalExpensesPerForm990Amt01123917
IRS990ScheduleD/TotalLiabilityAmt03813
IRS990ScheduleD/TotalRevenuePerForm990Amt0885306
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0885306
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01123918
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IRS990ScheduleG/EmailSolicitationsInd0X
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IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt0-237000
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IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt0237000
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt0520 SHERITAN WAY
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0SMYRNA
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IRS990ScheduleG/MailSolicitationsInd0X
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IRS990ScheduleG/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE G, PART IV
IRS990ScheduleG/TotalNetToOrganizationAmt0-237000
IRS990ScheduleG/TotalRetainedByContractorsAmt0237000
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/ExplanationTxt4INCLUDED IN ANNUAL BUDGET APPROVED BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INCLUDED IN ANNUAL BUDGET APPROVED BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BOOK / TAX DEPRECIATION DIFFERENCE -1
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 XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0574857
IRS990/TotalAssetsEOYAmt0340059
IRS990/TotalAssetsGrp/BOYAmt0574857
IRS990/TotalAssetsGrp/EOYAmt0340059
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0872163
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0253026
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0870891
IRS990/TotalFunctionalExpensesGrp/TotalAmt01123917
IRS990/TotalGrossUBIAmt08701
IRS990/TotalLiabilitiesEOYAmt03813
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt03813
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IRS990/TotalOtherProgSrvcExpenseAmt05934
IRS990/TotalProgramServiceExpensesAmt0870891
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02104
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0885306
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt08701
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0574857
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0340059
IRS990/TravelGrp/FundraisingAmt015684
IRS990/TravelGrp/ProgramServicesAmt018473
IRS990/TravelGrp/TotalAmt034157
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0204 EAST INNES ST
IRS990/USAddress/CityNm0SALISBURY
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028144
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0HTTP://WWW.ROWANEDC.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-01-07 14:23:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RODNEY A CRIDER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT AND CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07046375526
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SALISBURY-ROWAN ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT COMMISSION
ReturnHeader/Filer/BusinessNameControlTxt0SALI
ReturnHeader/Filer/EIN0561442745
ReturnHeader/Filer/PhoneNum07046375526
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0634D73D05B1E1D878425190530C07DF86F51BEA5
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0634D73D05B1E1D878425190530C07DF86F51BEA5
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt066.57.249.38
ReturnHeader/FilingSecurityInformation/IPDt02020-11-06
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm013:34:30
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0562156279
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHERRILL & SMITH CPAS PA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$340,059
Liabilities
$3,813
Net assets
$336,246
Revenue
$885,306
Expenses
$1,123,917
Net income
-$238,611
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
2020Detailed filing. Detailed filing data is available for this year.$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