Civic Intelligence

Alcovets

990 • Fiscal year 2022 • EIN 82-5304445

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 06, 2023

Organization ProfileWWW.ALCOVETS.ORG
PO Box 872Graham, NC 27253

(336) 932-8387

Siviq Scores

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

Liabilities / Assets

80th percentile

0.01x

Higher debt load relative to assets than 80% of similar nonprofits.

2022 filings • NTEE B11 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

81st percentile

0.01x

Higher debt load relative to revenue than 81% of similar nonprofits.

2022 filings • NTEE B11 • <$500k nonprofits • Source year 2022

Net Margin

86th percentile

49%

Higher net margin than 86% of similar nonprofits.

2022 filings • NTEE B11 • <$500k nonprofits • Source year 2022

Top Officer Pay

96th percentile

$0

Higher top officer pay than 96% of similar nonprofits.

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

2022 filings • NTEE B11 • <$500k nonprofits • Source year 2022

Asset Growth

93rd percentile

89%

Faster asset growth than 93% of similar nonprofits.

2022 filings • NTEE B11 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

54th percentile

73%

Faster revenue growth than 54% of similar nonprofits.

2022 filings • NTEE B11 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$236,440

Up $111,540 (+89%) from 2021

Net Assets

Up

$234,482

Up $109,719 (+88%) from 2021

Liabilities

Up

$1,958

Up $1,821 (+1329%) from 2021

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin86th percentile

Revenue

Up

$223,263

Up $94,039 (+73%) from 2021

Expenses

Up

$113,544

Up $62,939 (+124%) from 2021

Net Income

Up

$109,719

Up $31,100 (+40%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$400K$300K$200K$100K$0Assets 2018: $18,525Liabilities 2018: $02018Assets 2019: $14,285Liabilities 2019: $7092019Assets 2020: $46,144Liabilities 2020: $02020Assets 2021: $124,900Liabilities 2021: $137Net Assets 2021: $124,7632021Assets 2022: $236,440Liabilities 2022: $1,958Net Assets 2022: $234,4822022Assets 2023: $282,343Liabilities 2023: $2,721Net Assets 2023: $279,6222023Assets 2024: $319,576Liabilities 2024: $590Net Assets 2024: $318,9862024

Highlighted filing

2022

Assets$236,440
Liabilities$1,958
Net Assets$234,482
Open 2022 Filing

Operations Trend

Revenue Growth54th percentile

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

$300K$200K$100K$0-$100KRevenue 2018: $33,863Expenses 2018: $15,338Net Income 2018: $18,5252018Revenue 2019: $33,584Expenses 2019: $38,533Net Income 2019: -$4,9492019Revenue 2020: $33,996Expenses 2020: $1,428Net Income 2020: $32,5682020Revenue 2021: $129,224Expenses 2021: $50,605Net Income 2021: $78,6192021Revenue 2022: $223,263Expenses 2022: $113,544Net Income 2022: $109,7192022Revenue 2023: $206,325Expenses 2023: $161,185Net Income 2023: $45,1402023Revenue 2024: $179,169Expenses 2024: $139,805Net Income 2024: $39,3642024

Highlighted filing

2022

Revenue$223,263
Expenses$113,544
Net Income$109,719
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 6, 2023
Return Version
2022v5.0
Gross Receipts
$232,072
Mission and Program Overview

Mission

We are dedicated to raising money to honor and assist local veterans of alamance county that are in need. This organization in its activities shall be non-partisan, non-sectional, non-sectarian and shall not take part in nor lend influence to the election or appointment of any candidates for state, county or any other public office. Alcovets, inc. Is a non-profit and shall operate exclusively for education and charitable purposes within the meaning of section 501(3) of the internal revenue code or the corresponding section of any future federal tax code.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$57,351$156,106▲ $98,755
Land, Buildings, and Equipment, Net$67,548$80,334▲ $12,786
Total Assets$124,899$236,440▲ $111,541
Liabilities
Accounts Payable and Accrued Expenses$136$1,958▲ $1,822
Total Liabilities$136$1,958▲ $1,822
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$124,763$196,668▲ $71,905
Net Assets With Donor Restrictions-$37,814-
Total Net Assets Fund Balance$124,763$234,482▲ $109,719
Total Liabilities and Net Assets / Fund Balance$124,899$236,440▲ $111,541

Asset Categories

AssetBook ValueDepreciationBasis
Land$67,548-$67,548
Buildings$12,786-$12,786
Equipment-$4,271$4,271
Compensation and Service Providers
Top Officer Pay96th percentile

Board Members and Trustees

NameTitle
William G TalleyChairman
Richard ShevlinVice Chairma
James FletcherDirector
Jim ChristopherDirector
John HarringtonDirector
Larry BrooksDirector
Richard FisherDirector
Wayne BrewerDirector
Bobby ChinSecretary
Duane FloodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$102,356
Program Service Revenue
$3,161
Investment Income
$23
Other Revenue
$117,723
All Other Contributions
$43,355
Change in Net Assets
$109,719
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$98,775
Total Fundraising Expense$69,731
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$14,769--$14,769
Advertising--$14,479$14,479
Occupancy-$4,692-$4,692
All Other Expenses-$2,187$2,319$4,506
Depreciation Depletion$4,271--$4,271
Insurance--$3,874$3,874
Other Expenses$2,026-$2,057$2,026
Total Functional Expenses$36,934$6,879$69,731$113,544
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$126,532
Fundraising Direct Expenses$8,809
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Balloon Festiva$106,483$102,883-$102,883
Raffles$23,649$23,649$8,809$14,840
Total Events$130,132$126,532$8,809$117,723
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-OwnerSite ImprovementsNo$13,895
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 6

“The organization receives dues from active members.”

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

“Copies of the return are distributed to officers of the organization prior to submission.”

Form 990, Page 6, Part VI, Line 19

“Documents are provided upon written request feom the public.”

Filing and Contact Details

Filer

Filer Name
Alcovets Inc
EIN
82-5304445
Phone
3369328387
Address
PO BOX 872, GRAHAM, NC 27253

Signing Officer

Name
William G Talley
Title
Chairman
Phone
3369328387
Signed
2023-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William G Talley
Voting Board Members
10
Independent Board Members
9
Employees
0
Volunteers
185

Preparer

Firm
Cobb Ezekiel Loy & Company Pa
Address
POST OFFICE BOX 387, GRAHAM, NC 27253-0387
Preparer
Donald T Mcbane CPA
Phone
3362271495
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“We are dedicated to raising money to honor and assist local veterans of alamance county that are in need. This organization in its activities shall be non-partisan, non-sectional, non-sectarian and shall not take part in nor lend influence to the election or appointment of any candidates for state, county or any other public office. Alcovets, inc. Is a non-profit and shall operate exclusively for education and charitable purposes within the meaning of section 501(3) of the internal revenue code or the corresponding section of any future federal tax code.”

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IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus4YearsAmt09391
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt049851
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IRS990ScheduleD/BuildingsGrp/BookValueAmt012786
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt012786
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04271
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04271
IRS990ScheduleD/LandGrp/BookValueAmt067548
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt067548
IRS990ScheduleD/TotalBookValueLandBuildingsAmt080334
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt03600
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt03600
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt08809
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IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0RAFFLES
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0106483
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt023649
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0102883
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0126532
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0117723
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt08809
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt08809
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt013895
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SITE IMPROVEMENTS
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE ARE DEDICATED TO RAISING MONEY TO HONOR AND ASSIST LOCAL VETERANS OF ALAMANCE COUNTY THAT ARE IN NEED. THIS ORGANIZATION IN ITS ACTIVITIES SHALL BE NON-PARTISAN, NON-SECTIONAL, NON-SECTARIAN AND SHALL NOT TAKE PART IN NOR LEND INFLUENCE TO THE ELECTION OR APPOINTMENT OF ANY CANDIDATES FOR STATE, COUNTY OR ANY OTHER PUBLIC OFFICE. ALCOVETS, INC. IS A NON-PROFIT AND SHALL OPERATE EXCLUSIVELY FOR EDUCATION AND CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(3) OF THE INTERNAL REVENUE CODE OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVES DUES FROM ACTIVE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPIES OF THE RETURN ARE DISTRIBUTED TO OFFICERS OF THE ORGANIZATION PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE PROVIDED UPON WRITTEN REQUEST FEOM THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0124899
IRS990/TotalAssetsEOYAmt0236440
IRS990/TotalAssetsGrp/BOYAmt0124899
IRS990/TotalAssetsGrp/EOYAmt0236440
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06879
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt036934
IRS990/TotalFunctionalExpensesGrp/TotalAmt0113544
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0136
IRS990/TotalLiabilitiesEOYAmt01958
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IRS990/TotalLiabilitiesGrp/EOYAmt01958
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0234482
IRS990/TotalProgramServiceExpensesAmt036934
IRS990/TotalProgramServiceRevenueAmt03161
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03184
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0223263
IRS990/TotalVolunteersCnt0185
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0124899
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0236440
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 872
IRS990/USAddress/CityNm0GRAHAM
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027253
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.ALCOVETS.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM G TALLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum03369328387
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ALCOVETS INC
ReturnHeader/Filer/BusinessNameControlTxt0ALCO
ReturnHeader/Filer/EIN0825304445
ReturnHeader/Filer/PhoneNum03369328387
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 872
ReturnHeader/Filer/USAddress/CityNm0GRAHAM
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027253
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561104897
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COBB EZEKIEL LOY & COMPANY PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0POST OFFICE BOX 387
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAHAM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0272530387
ReturnHeader/PreparerPersonGrp/PhoneNum03362271495
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DONALD T MCBANE CPA
ReturnHeader/ReturnTs02023-11-13T12:06:15-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WILLIAM G
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0TALLEY
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$236,440
Liabilities
$1,958
Net assets
$234,482
Revenue
$223,263
Expenses
$113,544
Net income
$109,719
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.20$0.01$3.19$1.79$1.40$0.39
2023Detailed filing. Detailed filing data is available for this year.$2.82$0.03$2.80$2.06$1.61$0.45
2022Detailed filing. Detailed filing data is available for this year.$2.36$0.02$2.34$2.23$1.14$1.10
2021Detailed filing. Detailed filing data is available for this year.$1.25$0.00$1.25$1.29$0.51$0.79
2020Summary only. Only limited summary data is available for this year.$0.46$0.00$0.34$0.01$0.33
2019Summary only. Only limited summary data is available for this year.$0.14$0.01$0.34$0.39$0.05
2018Summary only. Only limited summary data is available for this year.$0.19$0.00$0.34$0.15$0.19