NORTH CAROLINA MUNICIPAL LEASING CORPORATION

EIN: 561478293 501(c)(3) Public & Societal Benefit

WINSTONSALEM, NC

Total Revenue
$4,818,253
Total Expenses
$4,824,301
Total Assets
$123,144,737
Net Assets
$-1,252,436
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
NC
Principal Officer
LISA M SAUNDERS
Phone
3367476920
Tax Period
2020-07-01 to 2021-06-30

NORTH CAROLINA MUNICIPAL LEASING CORPORATION, founded in 1985, is a community nonprofit in the Public & Societal Benefit sector that reported $4.8M in total revenue in fiscal year 2020. Revenue decreased 18% compared to the prior year.

Mission

NORTH CAROLINA MUNICIPAL LEASING CORPORATION OWNS DEBT-FINANCED EQUIPMENT WHICH IT LEASES TO THE CITY OF WINSTON-SALEM. THE CITY TAKES TITLE TO THE ASSET AT THE END OF THE LEASE TERM. THE CITY IS OBLIGATED TO PAY TO NORTH CAROLINA MUNICIPAL LEASING CORPORATION, ON AN ANNUAL BASIS, AN AMOUNT EQUAL TO THE EXCESS OF DISBURSEMENT.

Program Service Accomplishments

Program 1
Expenses: $4,816,763 Revenue: $4,818,253

NORTH CAROLINA MUNICIPAL LEASING CORPORATION IS A NOT-FOR-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND ACCORDINGLY, IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE...

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NORTH CAROLINA MUNICIPAL LEASING CORPORATION IS A NOT-FOR-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND ACCORDINGLY, IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE ORGANIZATION LEASES EQUIPMENT TO THE CITY OF WINSTON-SALEM. INVESTMENT IN DIRECT FINANCING AS OF JUNE 30, 2021 WAS $120,393,177.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $4,818,253
Investment Income $0
Other Revenue $0
TOTAL REVENUE $4,818,253

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $4,816,763
Other Expenses $4,824,301
TOTAL EXPENSES $4,824,301

Year-over-Year Comparison

2020 2019 Change
Revenue $4,818,253 $5,850,683 -0.2%
Expenses $4,824,301 $5,073,633 0.0%
Net Income $-6,048 $777,050 -1.0%
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
4
Independent Members
N/A
Employees
1
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
3
$384,803
Total Directors
4
$492,786
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LISA M SAUNDERS PRESIDENT 1.00
Officer Director
$0 $26,658 $196,494
WILLIAM B ROWE VICE PRESIDENT 1.00
Officer Director
$0 $38,388 $188,309
KELLY LATHAM SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
DEWEY WILLIARD DIRECTOR 1.00
Director
$0 $11,357 $107,983
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
2021 $4,818,253 $4,824,301 $123,144,737 $-6,048
2020 $5,850,683 $5,073,633 $133,455,715 $777,050
2019 $5,172,500 $5,376,469 $120,207,615 $-203,969
2018 $6,289,560 $5,677,354 $132,614,609 $612,206
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