THE ROWAN COUNTY AGRICULTURAL AND INDUSTRIAL

EIN: 560797945 501(c)(3) Food, Agriculture & Nutrition

SALISBURY, NC

Total Revenue
$361,436
Total Expenses
$429,273
Total Assets
$953,226
Net Assets
$503,675
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1956
Legal Domicile
NC
Principal Officer
LINDA M SPILLMAN
Phone
3369093519
Tax Period
2024-01-01 to 2024-12-31

THE ROWAN COUNTY AGRICULTURAL AND INDUSTRIAL, founded in 1956, is a small nonprofit in the Food, Agriculture & Nutrition sector that reported $361K in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $429K exceeded revenue, resulting in a 19% operating deficit.

Mission

TO DEVELOP AND GROW THE ROWAN CO AGRICULTURAL & INDUSTRIAL FAIR. TO PROVIDE, MAINTAIN & OPERATE FACILITIES THROUGH WHICH THE AGRICULTURAL & INDUSTRIAL SEGMENTS OF THE COUNTY MAY PRESENT TO THE GENERAL PUBLIC EVIDENCE OF THE PROGRESS ACHIEVED IN THEIR RESPECTIVE FIELDS OF ENDEAVOR

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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 $13,000
Program Service Revenue $311,958
Investment Income $1,504
Other Revenue $34,974
TOTAL REVENUE $361,436

Expense Breakdown

Grants Paid $6,735
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $427,629
Other Expenses $422,538
TOTAL EXPENSES $429,273

Year-over-Year Comparison

2024 2023 Change
Revenue $361,436 $393,479 -0.1%
Expenses $429,273 $360,008 +0.2%
Net Income $-67,837 $33,471 -3.0%
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

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
Volunteers
N/A

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
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LINDA M SPILLMAN SECRETARYTREASURER 0.00
Officer Director
$0 $0 $0
JOHNNY LOVE FAIR MANAGER 0.00
Officer Director
$0 $0 $0
RANDALL BARGER EXHIBIT MANAGER 0.00
Officer Director
$0 $0 $0
HEATHER RESINO DIRECTOR 0.00
Director
$0 $0 $0
MICHELLE SEAFORD DIRECTOR 0.00
Director
$0 $0 $0
DEVAN PURVIS DIRECTOR 0.00
Director
$0 $0 $0
ROBERT SPILLMAN DIRECTOR 0.00
Director
$0 $0 $0
SUZANNE MCLIMORE DIRECTOR 0.00
Director
$0 $0 $0
LYNNE PURVIS DIRECTOR 0.00
Director
$0 $0 $0
GREGG SEAFORD GROUNDS MANAGER 0.00
Officer Director
$0 $0 $0
MELISSA STEPP DIRECTOR 0.00
Director
$0 $0 $0
DAVID CORRELL BARN MANAGER 0.00
Officer
$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
2025 No data No data No data No data
2024 $361,436 $429,273 $953,226 $-67,837
2023 $393,479 $360,008 $1,035,016 $33,471
2022 $366,568 $318,324 $1,014,355 $48,244
2021 $369,744 $310,029 $982,715 $59,715
2020 $101,110 $161,309 $936,498 $-60,199
2019 $438,018 $450,147 $1,009,325 $-12,129
2018 $341,996 $381,967 $1,013,109 $-39,971
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