Salisbury Community Development Corporation: Nonprofit Profile, Financials & Form 990 (EIN 58-1627430)

Revenue by fiscal year
FY2021	$342K
FY2022	$815K
FY2023	$671K

Expenses by fiscal year
FY2021	$454K
FY2022	$553K
FY2023	$620K

Net assets by fiscal year
FY2021	$586K
FY2022	$847K
FY2023	$893K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Sep 1985.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

68 cents of each dollar spent went to programs.

68%

32%

Program services 68% · $419K Management & general 32% · $201K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII

Karen Alexander

Secretary

$0Pt VII · Sec A

Rev Nilous Avery

Director

$0Pt VII · Sec A

Lane Bailey

Director

$0Pt VII · Sec A

Mae Carroll

Vice Preside

$0Pt VII · Sec A

Shirley Johnson

Director

$0Pt VII · Sec A

David R McCoy

President

$0Pt VII · Sec A

Ed Muire

Director

$0Pt VII · Sec A

David Treme

Director

$0Pt VII · Sec A

See Salisbury Community Development Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps low-income people find affordable homes.

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Provided by the organization

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3 programs · $398K · in their own filed words · FY2022

01

Purchase various properties to build houses for first time buyers and provide housing for low income income indivuals.

$231Kprogram expense

02

To assist needy rowan county residents in making urgent repairs and renvovation to their homes.

$167Kprogram expense

03

Council home owners in adverse financial circumstances in changing their lifestyle and other activities to prevent forclosure of their home.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

Foundation for the CarolinasFY2024$8K

Total grants receivedfrom 1 funder$8K

Grants paid · 1 grant · $6K · 2022–2022

Unitemized GrantFY2022$6,250

By the numbers

The FY2023 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$671K

Ln 12

Gifts and grantsLn 1h$618K

Fees for servicesLn 2g$53K

Investment incomeLn 3$387

Money outPt IX

$620K

Ln 25

Programscol B$419K

Managementcol C$201K

Owns and owesPt X

$893K

net assets · Ln 32

Cash and savingsLn 1–2$477K

Total assetsLn 16$2.8M

LiabilitiesLn 26$1.9M

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a8

IndependentVI 1b8

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$618K

Government grantsLn 1e$461K

Fees for servicesLn 2g$53K

Investment incomeLn 3$387

Total revenueLn 12$671K

Assets in detailPt X, end of year

CashLn 1$477K

Cash and savings togetherLn 1–2$477K

Land, buildings, equipmentLn 10c$23K

Other assetsLn 15$2.3M

Total assetsLn 16$2.8M

LiabilitiesLn 26$1.9M

Net assetsLn 32$893K

OperationsPt I, VI

EmployeesI 54

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$454K	$477K
Land, buildings, equipmentLn 10c	$24K	$23K
Total assetsLn 16	$2.5M	$2.8M
LiabilitiesLn 26	$1.7M	$1.9M
Net assetsLn 32	$847K	$893K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$15K	$15K
Grants to domestic individualsLn 2	$6K	$6K
Pay of current officers, directors and key staffLn 5	$100K	$50K	$50K
Other salaries and wagesLn 7	$145K	$129K	$16K
Pension plan contributionsLn 8	$8K	$5K	$3K
Other employee benefitsLn 9	$29K	$15K	$15K
Payroll taxesLn 10	$19K	$14K	$5K
Legal feesLn 11b	$250	$250
Accounting feesLn 11c	$19K		$19K
Other fees for servicesLn 11g	$3K	$3K
Advertising and promotionLn 12	$755	$453	$302
Office expensesLn 13	$5K	$2K	$2K
OccupancyLn 16	$5K	$3K	$3K
TravelLn 17	$5K	$2K	$2K
Conferences, conventions and meetingsLn 19	$5K	$2K	$2K
InterestLn 20	$76K		$76K
Depreciation, depletion and amortizationLn 22	$768	$384	$384
InsuranceLn 23	$4K	$2K	$2K
Other expenses (24a–d)Ln 24	$171K	$167K	$4K
All other expensesLn 24e	$3K	$3K	$816
Total functional expensesLn 25	$620K	$419K	$201K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 Latest Viewing	$671K	$620K	$52K	$893K	990 PDF
FY2022	$815K	$553K	$261K	$847K	990 PDF
FY2021	$342K	$454K	−$112K	$586K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2023 990 (6 parts)

Part I · Summary $671,444 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $602,272$617,722

I-9 Program service revenuePrior year $211,197$53,335

I-10 Investment incomePrior year $391$387

I-11 Other revenuePrior year $811$0

I-12 Total revenuePrior year $814,671$671,444

I-13 Grants and similar amounts paid$21,250

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $344,093$302,137

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $209,354$296,436

I-18 Total expensesPrior year $553,447$619,823

I-19 Revenue less expensesPrior year $261,224$51,621

Part VI · Governance 8 of 8 board members independent, 1 to look at

VI-1a Voting members of the governing body8

VI-1b Independent voting members8

VI-14 Document retention and destruction policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $671,444 across 7 lines filed

VIII-1a Federated campaigns$2,000

VIII-1e Government grants$460,722

VIII-1f All other contributions, gifts and grants$155,000

VIII-1h Total contributions, gifts and grants$617,722

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $53,335$53,335

VIII-3 Investment incomeExcluded from tax $387$387

VIII-12 Total revenueRelated to mission $53,335 · Excluded from tax $387$671,444

Part IX · Statement of functional expenses $619,823 across 20 lines filed

IX-1 Grants to domestic organizationsPrograms $15,000$15,000

IX-2 Grants to domestic individualsPrograms $6,250$6,250

IX-5 Pay of current officers, directors and key staffPrograms $50,000 · Management $50,000$100,000

IX-7 Other salaries and wagesPrograms $129,322 · Management $16,156$145,478

IX-8 Pension plan contributionsPrograms $5,033 · Management $3,090$8,123

IX-9 Other employee benefitsPrograms $14,734 · Management $14,735$29,469

IX-10 Payroll taxesPrograms $13,929 · Management $5,138$19,067

IX-11b Legal feesPrograms $250$250

IX-11c Accounting feesManagement $19,280$19,280

IX-11g Other fees for servicesPrograms $2,600$2,600

IX-12 Advertising and promotionPrograms $453 · Management $302$755

IX-13 Office expensesPrograms $2,302 · Management $2,300$4,602

IX-16 OccupancyPrograms $2,544 · Management $2,544$5,088

IX-17 TravelPrograms $2,256 · Management $2,255$4,511

IX-19 Conferences, conventions and meetingsPrograms $2,380 · Management $2,381$4,761

IX-20 InterestManagement $75,560$75,560

IX-22 Depreciation, depletion and amortizationPrograms $384 · Management $384$768

IX-23 InsurancePrograms $2,183 · Management $2,182$4,365

IX-24 Other expenses (24a–d)Programs $166,809 · Management $3,738$170,547

IX-24e All other expensesPrograms $2,533 · Management $816$3,349

IX-25 Total functional expensesPrograms $418,962 · Management $200,861 · Fundraising $0$619,823

Part X · Balance sheet $2,782,598 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $454,009$476,947

X-4 Accounts receivableStart of year $21,160$10,961

X-9 Prepaid expenses and deferred charges$17,909

X-10c Land, buildings and equipment, netStart of year $23,696$23,440

X-15 Other assetsStart of year $2,036,620$2,253,341

X-16 Total assetsStart of year $2,535,485$2,782,598

X-17 Accounts payable and accrued expensesStart of year $14,853$14,836

X-24 Unsecured notes and loans payableStart of year $1,673,186$1,874,446

X-26 Total liabilitiesStart of year $1,688,039$1,889,282

X-27 Net assets without donor restrictionsStart of year $805,631$859,233

X-28 Net assets with donor restrictionsStart of year $41,815$34,083

X-32 Total net assets or fund balancesStart of year $847,446$893,316

X-33 Total liabilities and net assetsStart of year $2,535,485$2,782,598

Part XI · Reconciliation of net assets $893,316 net assets at year end

XI-1 Total revenue$671,444

XI-2 Total expenses$619,823

XI-3 Revenue less expenses$51,621

XI-4 Net assets at start of year$847,446

XI-8 Prior period adjustments−$5,751

XI-10 Net assets at end of year$893,316

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Salisbury Community Development Corporation

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Salisbury Community Development Corporation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV