Civic Intelligence

Salisbury Community Development Corporation

990 • Fiscal year 2022 • EIN 58-1627430

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2022

P O Box 4408Salisbury, NC 28145-4408

(704) 638-4474

Siviq Scores

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

Liabilities / Assets

55th percentile

0.67x

Higher debt load relative to assets than 55% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

56th percentile

2.07x

Higher debt load relative to revenue than 56% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Net Margin

87th percentile

32%

Higher net margin than 87% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Asset Growth

95th percentile

56%

Faster asset growth than 95% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

96th percentile

138%

Faster revenue growth than 96% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$2,535,485

Up $914,230 (+56%) from 2021

Net Assets

Up

$847,446

Up $261,224 (+45%) from 2021

Liabilities

Up

$1,688,039

Up $653,006 (+63%) from 2021

Revenue

Up

$814,671

Up $472,205 (+138%) from 2021

Expenses

Up

$553,447

Up $99,387 (+22%) from 2021

Net Income

Up

$261,224

Up $372,818 (+334%) from 2021

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2012: $1,772,804Liabilities 2012: $1,179,257Net Assets 2012: $593,5472012Assets 2013: $1,736,874Liabilities 2013: $1,110,801Net Assets 2013: $626,0732013Assets 2014: $1,805,009Liabilities 2014: $1,063,271Net Assets 2014: $741,7382014Assets 2015: $1,630,472Liabilities 2015: $1,000,717Net Assets 2015: $629,7552015Assets 2016: $1,877,570Liabilities 2016: $1,197,314Net Assets 2016: $680,2562016Assets 2017: $1,833,466Liabilities 2017: $1,218,249Net Assets 2017: $615,2172017Assets 2018: $1,686,335Liabilities 2018: $1,048,428Net Assets 2018: $637,9072018Assets 2019: $1,714,955Liabilities 2019: $922,088Net Assets 2019: $792,8672019Assets 2020: $1,550,172Liabilities 2020: $852,356Net Assets 2020: $697,8162020Assets 2021: $1,621,255Liabilities 2021: $1,035,033Net Assets 2021: $586,2222021Assets 2022: $2,535,485Liabilities 2022: $1,688,039Net Assets 2022: $847,4462022Assets 2023: $2,782,598Liabilities 2023: $1,889,282Net Assets 2023: $893,3162023

Highlighted filing

2022

Assets$2,535,485
Liabilities$1,688,039
Net Assets$847,446

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2012: $497,945Expenses 2012: $417,376Net Income 2012: $80,5692012Revenue 2013: $467,938Expenses 2013: $435,413Net Income 2013: $32,5252013Revenue 2014: $506,720Expenses 2014: $391,055Net Income 2014: $115,6652014Revenue 2015: $254,745Expenses 2015: $366,728Net Income 2015: -$111,9832015Revenue 2016: $383,504Expenses 2016: $333,003Net Income 2016: $50,5012016Revenue 2017: $303,988Expenses 2017: $369,027Net Income 2017: -$65,0392017Revenue 2018: $388,165Expenses 2018: $365,475Net Income 2018: $22,6902018Revenue 2019: $622,980Expenses 2019: $468,020Net Income 2019: $154,9602019Revenue 2020: $365,014Expenses 2020: $460,065Net Income 2020: -$95,0512020Revenue 2021: $342,466Expenses 2021: $454,060Net Income 2021: -$111,5942021Revenue 2022: $814,671Expenses 2022: $553,447Net Income 2022: $261,2242022Revenue 2023: $671,444Expenses 2023: $619,823Net Income 2023: $51,6212023

Highlighted filing

2022

Revenue$814,671
Expenses$553,447
Net Income$261,224
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2022
Return Version
2021v4.0
Gross Receipts
$814,671
Mission and Program Overview

Mission

To assist low and moderate income persons to obtained affordable housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$363,274$454,009▲ $90,735
Land, Buildings, and Equipment, Net$24,396$23,696▼ $700
Accounts Receivable$5,758$21,160▲ $15,402
Total Assets$1,621,255$2,535,485▲ $914,230
Other Assets Total$1,227,827$2,036,620▲ $808,793
Liabilities
Unsecured Notes Loans Payable$960,434$1,673,186▲ $712,752
Accounts Payable and Accrued Expenses$74,599$14,853▼ $59,746
Total Liabilities$1,035,033$1,688,039▲ $653,006
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$544,407$805,631▲ $261,224
Net Assets With Donor Restrictions$41,815$41,815→ $0
Total Net Assets Fund Balance$586,222$847,446▲ $261,224
Total Liabilities and Net Assets / Fund Balance$1,621,255$2,535,485▲ $914,230

Asset Categories

AssetBook ValueDepreciationBasis
Land$21,788-$21,788
Equipment$1,908$7,576$9,484
Other Assets Org$616--
Compensation and Service Providers

Board Members and Trustees

NameTitle
David R MccoyPresident
David TremeDirector
Ed MuireDirector
Lane BaileyDirector
Rev Nilous AveryDirector
Shirley JohnsonDirector
Karen AlexanderSecretary
Mae CarrollVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$602,272
Program Service Revenue
$211,197
Investment Income
$391
Other Revenue
$811
All Other Contributions
$323,000
Change in Net Assets
$261,224

Audited Revenue Reconciliation

Revenue per Audited Statements
$814,671
Total Revenue per Audited Statements
$814,671
Total Revenue per Form 990
$814,671
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$344,093
Other Expenses$209,354
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$161,246$14,506-$175,752
Current Officers, Directors, Trustees, and Key Employees$45,000$45,000-$90,000
Other Employee Benefits$33,432$14,171-$47,603
Payroll Taxes$15,850$4,573-$20,423
Fees for Services Accounting-$16,280-$16,280
Interest-$13,020-$13,020
Pension Plan Contributions$7,225$3,090-$10,315
Insurance$2,718$2,718-$5,436
Office Expenses$2,652$2,652-$5,304
Occupancy$2,544$2,544-$5,088
Fees for Services Other$4,075--$4,075
Travel$1,792$1,792-$3,584
All Other Expenses$1,417$902-$2,319
Other Expenses$1,359$1,790-$1,790
Advertising$570$444-$1,014
Depreciation Depletion$350$350-$700
Fees for Services Legal$200--$200
Total Functional Expenses$428,256$125,191$0$553,447

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$553,447
Total Expenses per Audited Statements$553,447
Total Expenses per Form 990$553,447
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
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
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 executive director reviews the form 990 and reports to the board.

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

Monitored regularly by board and staff.

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

EXECUTIVE DIRECTOR

Form 990, Page 6, Part VI, Line 19

Documents are disclosed to the public upon request .

Filing and Contact Details

Filer

Filer Name
Salisbury Community Development
EIN
58-1627430
Phone
7046384474
Address
P O BOX 4408, SALISBURY, NC 28145-4408

Signing Officer

Name
Mae Carroll
Title
Vice President
Phone
7046384474
Signed
2022-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David R Mccoy
Formed
1985
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
6

Preparer

Firm
Sherrill & Smith Cpas Pa
Address
PO BOX 1327, SALISBURY, NC 28145-1327
Preparer
R W Musselwhite
Phone
7046365211
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0652896
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IRS990ScheduleA/PublicSupportCY170Pct00.99890
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0602272
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0209285
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0317139
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0494698
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0253836
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01877230
IRS990ScheduleA/TotalSupportAmt01879349
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt01908
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07576
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09484
IRS990ScheduleD/ExpensesSubtotalAmt0553447
IRS990ScheduleD/LandGrp/BookValueAmt021788
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt021788
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01188343
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1151818
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt268848
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt341315
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt439635
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt530530
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt627785
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1321310
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1520444
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1717049
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1816882
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1916577
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2016165
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0I-PROJECT-EAMON PARK APARTMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1S-PROJECT-1131 NORTH MAIN STREET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2S-PROJECT-730 W COUNCIL ST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3I-PROJECT-619 W CEMETERY
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4S-PROJECT-520 PARK AVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5S-PROJECT-707 WEST FISHER ST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc6S-PROJECT-900 S. JACKSON
IRS990ScheduleD/OtherAssetsOrgGrp/Desc7S-PROJECT-621 W FISHER ST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc8S-PROJECT-625 W FISHER ST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc9S-PROJECT-720 WILSON ROAD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc10S-PROJECT-724 WILSON ROAD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc11S-PROJECT-300 NORTH CLAY ST (LOT)
IRS990ScheduleD/OtherAssetsOrgGrp/Desc12S-PROJECT-727 W FISHER
IRS990ScheduleD/OtherAssetsOrgGrp/Desc13S-PROJECT-423 EAST CEMETERY ST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc14S-PROJECT-512 N. SHAVER ST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc15S-PROJECT-703 W FISHER
IRS990ScheduleD/OtherAssetsOrgGrp/Desc16S-PROJECT-426 GRIM STREET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc17S-PROJECT-1127 OLD PLANT RD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc18S-PROJECT-W. FISHER ST - 600 BLOCK
IRS990ScheduleD/OtherAssetsOrgGrp/Desc19S-PROJECT-505 MESSNER ST MAP 008 PAR
IRS990ScheduleD/OtherAssetsOrgGrp/Desc20S-PROJECT-903 WEST HORAH ST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc21S-PROJECT-HOLMES STREET MAP 006 PARC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc22S-PROJECT-500 E COUNCIL ST LOT A
IRS990ScheduleD/OtherAssetsOrgGrp/Desc23S-PROJECT-500 E COUNCIL ST LOT B
IRS990ScheduleD/OtherAssetsOrgGrp/Desc24S-PROJECT-1134 SHORT ST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc25S-PROJECT-LOT 2 SEDGEFIELD ACRES(N L
IRS990ScheduleD/OtherAssetsOrgGrp/Desc26S-PROJECT-LOT 9 SEDGEFIELD ACRES ( N
IRS990ScheduleD/OtherAssetsOrgGrp/Desc27S-PROJECT-LOT 6 SEDGEFIELD ACRES (LA
IRS990ScheduleD/OtherAssetsOrgGrp/Desc28S-PROJECT-LOT 7 SEDGEFIELD ACRES ( N
IRS990ScheduleD/OtherAssetsOrgGrp/Desc29S-PROJECT-LOT 8 SEDGEFIELD ACRES ( N
IRS990ScheduleD/OtherAssetsOrgGrp/Desc30S-PROJECT-1207 W. HORAH ST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc31S-PROJECT-1301 STANDISH STREET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc32S-PROJECT-
IRS990ScheduleD/OtherAssetsOrgGrp/Desc33S-PROJECT-O W CEMETERY ST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc34S-PROJECT-MESSNER ST MAP 005 PARCEL
IRS990ScheduleD/OtherAssetsOrgGrp/Desc35S-PROJECT-728 WEST KERR
IRS990ScheduleD/OtherAssetsOrgGrp/Desc36I-PROJECT-614 W. KERR ST
IRS990ScheduleD/RevenueSubtotalAmt0814671
IRS990ScheduleD/TotalBookValueLandBuildingsAmt023696
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02036620
IRS990ScheduleD/TotalExpensesPerForm990Amt0553447
IRS990ScheduleD/TotalRevenuePerForm990Amt0814671
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0814671
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0553447
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR REVIEWS THE FORM 990 AND REPORTS TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MONITORED REGULARLY BY BOARD AND STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE DIRECTOR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE DISCLOSED TO THE PUBLIC UPON REQUEST .
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C

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