OLD SALEM INC

EIN: 560587289 501(c)(3) Arts, Culture & Humanities

WINSTONSALEM, NC

Total Revenue
$7,683,432
Total Expenses
$6,391,535
Total Assets
$73,818,193
Net Assets
$71,954,550
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1950
Legal Domicile
NC
Principal Officer
TERRY TAYLOR
Phone
3367217300
Tax Period
2024-01-01 to 2024-12-31

OLD SALEM INC, founded in 1950, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.7M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.3M, a strong 17% operating margin.

Mission

THE PRESERVATION AND INTERPRETATION OF THE HISTORY AND MATERIAL CULTURE OF THE EARLY AMERICAN SOUTH AND THE MORAVIAN TOWN OF SALEM.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,853,441
Program Service Revenue $1,009,020
Investment Income $3,006,124
Other Revenue $814,847
TOTAL REVENUE $7,683,432

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,588,285
Fundraising Expenses $445,966
Program Expenses $5,282,955
Other Expenses $2,803,250
TOTAL EXPENSES $6,391,535

Year-over-Year Comparison

2024 2023 Change
Revenue $7,683,432 $7,060,262 +0.1%
Expenses $6,391,535 $6,101,907 +0.0%
Net Income $1,291,897 $958,355 +0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
31
Independent Members
31
Employees
138
Volunteers
51

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$140,448
Total Directors
31
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TERRY TAYLOR PRESIDENT/CE 40.00
Officer
$133,821 $6,627 $140,448
BARRY R SIDDEN TRUSTEE 1.00
Director
$0 $0 $0
CYTHIA SKAAR TRUSTEE 1.00
Director
$0 $0 $0
ANNE L LANTRY TRUSTEE 1.00
Director
$0 $0 $0
DR EDWARD G HILL JR TRUSTEE 1.00
Director
$0 $0 $0
DR THOMAS H SEARS JR TRUSTEE 1.00
Director
$0 $0 $0
MOLLY A LEIGHT TRUSTEE 1.00
Director
$0 $0 $0
FLETCHER P WILSON TRUSTEE 1.00
Director
$0 $0 $0
PEGGY C CARTER TRUSTEE 1.00
Director
$0 $0 $0
CHRISTOPHER L DUVALL TRUSTEE 1.00
Director
$0 $0 $0
JULIANA FALK TRUSTEE 1.00
Director
$0 $0 $0
DR TORREN GATSON TRUSTEE 1.00
Director
$0 $0 $0
WILLIAM T GOSSETT TRUSTEE 1.00
Director
$0 $0 $0
THOMAS C HINES TRUSTEE 1.00
Director
$0 $0 $0
JESSE KEEVER TRUSTEE 1.00
Director
$0 $0 $0
BRADLEY S PARRIS TRUSTEE 1.00
Director
$0 $0 $0
FREDERICK W VAUGHAN TRUSTEE 1.00
Director
$0 $0 $0
CHERYL BLACK TRUSTEE 1.00
Director
$0 $0 $0
CHRISTOPHER P CARACCI TRUSTEE 1.00
Director
$0 $0 $0
DR EUGENE W ADCOCK TRUSTEE 1.00
Director
$0 $0 $0
G WILLIAM JOYNER III TRUSTEE 1.00
Director
$0 $0 $0
TRENT JERNIGAN TRUSTEE 1.00
Director
$0 $0 $0
JUNE LUCAS TRUSTEE 1.00
Director
$0 $0 $0
F SHEFFIELD HALE EX OFFICIO 1.00
Director
$0 $0 $0
DR SUMMER MCGEE EX OFFICIO 1.00
Director
$0 $0 $0
JOHNNIE PEARSON EX OFFICIO 1.00
Director
$0 $0 $0
KAREN WALTER EX OFFICIO 1.00
Director
$0 $0 $0
KARL W KAPP EX OFFICIO 1.00
Director
$0 $0 $0
DAVID WHARTON CHAIR 1.00
Officer Director
$0 $0 $0
DAVID W SHORE VICE CHAIR 1.00
Officer Director
$0 $0 $0
S HAYES WAUFORD JR SECRETARY 1.00
Officer Director
$0 $0 $0
WILLIAM E HOLLAN III TREASURER 1.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $7,683,432 $6,391,535 $73,818,193 $1,291,897
2023 $7,060,262 $6,101,907 $69,957,134 $958,355
2022 $6,551,134 $5,253,741 $66,335,974 $1,297,393
2021 $3,795,190 $4,621,944 $81,707,076 $-826,754
2020 $3,173,729 $4,370,329 $79,368,344 $-1,196,600
2020 $3,173,729 $4,370,329 $79,368,344 $-1,196,600
2019 $7,485,880 $6,472,083 $77,533,232 $1,013,797
2018 $5,823,103 $6,388,126 $72,441,999 $-565,023
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