SALISBURY COMMUNITY DEVELOPMENT CORPORATION INC

EIN: 581627430 501(c)(3) Housing & Shelter

SALISBURY, NC

Total Revenue
$671,444
Total Expenses
$619,823
Total Assets
$2,782,598
Net Assets
$893,316
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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
1985
Legal Domicile
NC
Principal Officer
DAVID R MCCOY
Phone
7046384474
Tax Period
2022-07-01 to 2023-06-30

SALISBURY COMMUNITY DEVELOPMENT CORPORATION INC, founded in 1985, is a small nonprofit in the Housing & Shelter sector that reported $671K in total revenue in fiscal year 2022. Revenue decreased 18% compared to the prior year. Expenses of $620K left a modest 8% surplus.

Mission

TO ASSIST LOW AND MODERATE INCOME PERSONS TO OBTAINED AFFORDABLE HOUSING.

Program Service Accomplishments

Program 1
Expenses: $231,129

PURCHASE VARIOUS PROPERTIES TO BUILD HOUSES FOR FIRST TIME BUYERS AND PROVIDE HOUSING FOR LOW INCOME INCOME INDIVUALS.

Program 2
Expenses: $166,583

TO ASSIST NEEDY ROWAN COUNTY RESIDENTS IN MAKING URGENT REPAIRS AND RENVOVATION TO THEIR HOMES.

Program 3

COUNCIL HOME OWNERS IN ADVERSE FINANCIAL CIRCUMSTANCES IN CHANGING THEIR LIFESTYLE AND OTHER ACTIVITIES TO PREVENT FORCLOSURE OF THEIR HOME.

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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 (2022)

Revenue Breakdown

Contributions & Grants $617,722
Program Service Revenue $53,335
Investment Income $387
Other Revenue $0
TOTAL REVENUE $671,444

Expense Breakdown

Grants Paid $21,250
Salaries & Benefits $302,137
Fundraising Expenses $0
Program Expenses $418,962
Other Expenses $296,436
TOTAL EXPENSES $619,823

Year-over-Year Comparison

2022 2021 Change
Revenue $671,444 $814,671 -0.2%
Expenses $619,823 $553,447 +0.1%
Net Income $51,621 $261,224 -0.8%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
6
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
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KAREN ALEXANDER SECRETARY N/A
Officer Director
$0 $0 $0
REV NILOUS AVERY DIRECTOR N/A
Director
$0 $0 $0
LANE BAILEY DIRECTOR N/A
Director
$0 $0 $0
MAE CARROLL VICE PRESIDE N/A
Officer Director
$0 $0 $0
SHIRLEY JOHNSON DIRECTOR N/A
Director
$0 $0 $0
DAVID R MCCOY PRESIDENT N/A
Officer Director
$0 $0 $0
ED MUIRE DIRECTOR N/A
Director
$0 $0 $0
DAVID TREME DIRECTOR N/A
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
2023 $671,444 $619,823 $2,782,598 $51,621
2022 $814,671 $553,447 $2,535,485 $261,224
2021 $342,466 $454,060 $1,621,255 $-111,594
2020 $365,014 $460,065 $1,550,172 $-95,051
2019 $622,980 $468,020 $1,714,955 $154,960
2018 $388,165 $365,475 $1,686,335 $22,690
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