2023-06-20T14:05:24-04:00 2022-12-31 561138530 BUTLER BURKE LLP 100 CLUB OAKS COURT SUITE A WINSTONSALEM NC 27104 990 2022-01-01 560587289 OLD SALEM INC OLDS 3367217300 600 S MAIN STREET WINSTONSALEM NC 27101 TERRY TAYLOR PRESIDENT/CEO 3367217316 2023-06-19 true TERRY TAYLOR 999009999 false JANE R POTTER P01057495 3367682310 2023-06-19 2022 2023-04-26 12:10:37Z TERRY TAYLOR 600 S MAIN STREET WINSTONSALEM NC 27101 8084343 false X WWW.OLDSALEM.ORG X 1950 NC THE PRESERVATION AND INTERPRETATION OF THE HISTORY AND MATERIAL CULTURE OF THE EARLY AMERICAN SOUTH AND THE MORAVIAN TOWN OF SALEM. 23 23 117 19 0 1862981 1465994 187420 660727 1196400 3512640 548389 911773 3795190 6551134 0 0 2632488 2789602 0 258734 1989456 2464139 4621944 5253741 -826754 1297393 81707076 66335974 1614808 1002707 80092268 65333267 THE PRESERVATION AND INTERPRETATION OF THE HISTORY AND MATERIAL CULTURE OF THE EARLY AMERICAN SOUTH AND THE MORAVIAN TOWN OF SALEM. false false 1688509 604136 EDUCATIONAL PROGRAM: 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71 PRESIDENT/CE 40.00 X 111078 0 5474 TRENT JERNIGAN TRUSTEE 1.00 X 0 0 0 JUNE LUCAS TRUSTEE 1.00 X 0 0 0 S HAYES WAUFORD TRUSTEE 1.00 X 0 0 0 WILLIAM HOLLAN BEG DECEMBER TRUSTEE 1.00 X 0 0 0 MOLLY A LEIGHT TRUSTEE 1.00 X 0 0 0 JAMES E MARTIN TRUSTEE 1.00 X 0 0 0 DR THOMAS H SEARS JR TRUSTEE 1.00 X 0 0 0 DAVID W SHORE TRUSTEE 1.00 X 0 0 0 FLETCHER P WILSON TRUSTEE 1.00 X 0 0 0 DR EUGENE W ADCOCK TRUSTEE 1.00 X 0 0 0 CHERYL BLACK TRUSTEE 1.00 X 0 0 0 CHERYL HARRY TRUSTEE 1.00 X 0 0 0 DAVID WHARTON TRUSTEE 1.00 X 0 0 0 JAMES BOSWELL TRUSTEE 1.00 X 0 0 0 DR SUMMER MCGEE TRUSTEE 1.00 X 0 0 0 JOHNNIE PEARSON TRUSTEE 1.00 X 0 0 0 DOUGLAS WILLIAMS TRUSTEE 1.00 X 0 0 0 KARL W KAPP TRUSTEE 1.00 X 0 0 0 DR EDWARD G HILL JR TRUSTEE 1.00 X 0 0 0 G WILLIAM JOYNER III CHAIR 1.00 X X 0 0 0 MARY E MERCIER VICE CHAIR 1.00 X X 0 0 0 CHRISTOPHER P CARACCI SECRETARY 1.00 X X 0 0 0 WILLIAM C MARINER TREASURER 1.00 X X 0 0 0 230898 7997 2 false false false 397710 1068284 402818 1465994 ADMISSIONS 900099 521020 521020 MUSEUM CLASSES 900099 139707 139707 660727 1501150 1501150 265 265 38727 15154 23573 23573 23573 438057 2862744 1289311 438057 1573433 2011490 2011490 1105463 228744 876719 876719 MISCELLANEOUS REVENUE 900099 11216 11216 11216 6551134 1537446 3547694 238896 95558 119448 23890 2125980 1795951 195942 134087 60458 52396 4444 3618 191585 170101 10369 11115 172683 141467 19371 11845 26010 26010 32910 15427 17204 279 60670 60670 239321 173209 54053 12059 23039 23039 93809 55310 8536 29963 342403 321058 19732 1613 84003 83995 8 2571 2338 233 6864 6864 621162 549389 68133 3640 132530 127131 3422 1977 SUPPLIES 376837 365251 11586 MAINTENANCE 280425 262847 13569 4009 BAD DEBTS 62254 62254 MISCELLANEOUS 43851 35759 3071 5021 35480 26800 4648 4032 5253741 4297026 697981 258734 1375894 1828183 344393 356627 119471 148455 115947 143732 85903 23538527 12781722 11939867 10756805 41741685 34727259 25441290 18917539 81707076 66335974 522864 588468 125018 120734 966926 293505 1614808 1002707 X 42454895 29228042 37637373 36105225 80092268 65333267 81707076 66335974 1297393 -6977346 -9079048 X false true X true false X 1993255 2405788 2031916 1862981 1465994 9759934 1993255 2405788 2031916 1862981 1465994 9759934 89148 9670786 999329 1073482 779561 962808 1540142 5355322 7800 58000 6190 11215 83205 15198461 8665303 0.63630 0.70080 X PART II, LINE 10 FUNDRAISING REVENUE 71,990 MISCELLANEOUS 11,215 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 36 36 1 false 10.00 649 391865 16698166 X X X X false 42675961 29743 -4956086 1805067 82791 35861760 38374548 3930 5962760 1665277 42675961 37612870 11081 3893741 3143144 38374548 32765247 367490 6406388 1926255 37612870 37166247 117044 -2473211 2044833 32765247 0.05080 0.52080 0.42840 false false 380972 380972 19520037 10307155 9212882 2259206 1228968 1030238 1155491 1022778 132713 222821 222821 10756805 COLLECTIONS 16698166 ENDOWMENT 1822790 RIGHT OF USE ASSET 293505 OTHER ASSETS 103078 18917539 LEASE LIABILITY 293505 293505 X -242984 -6977346 243898 -6733448 6490464 60670 60670 6551134 5436969 243898 243898 5193071 60670 60670 5253741 SCHEDULE D, PAGE 1, PART II, LINE 9 CONSERVATION EASEMENTS CONSISTS OF DEED COVENANTS THAT THE ORGANIZATION HOLDS ON PROPERTIES THAT HAVE PASSED THROUGH ITS OWNERSHIP. NO VALUE IS RECORDED FOR THESE DEED COVENANTS. SCHEDULE D, PAGE 2, PART III, LINE 4 OBJECTS HELD FOR DISPLAY COMPRISE THOUSANDS OF ITEMS, INCLUDING LOCAL- MANUFACTURED ANTIQUE FURNITURE, FIXTURES FROM HISTORIC BUILDINGS, TEXTILES, ARTWORK, AND LITERATURE. THE COLLECTION IS ESSENTIAL TO THE ORGANIZATION'S MISSION. THE ORGANIZATION HAS AN ESTABLISHED COLLECTIONS MANAGEMENT POLICY AROUND THE ACCESSION (ACQUISITION), DEACCESSION (DISPOSAL), LOAN, AND CARE OF THE COLLECTION. PROCEEDS RECEIVED AS A RESULT OF ANY DEACCESSION ARE USED FOR THE SOLE PURPOSE OF REFINING AND UPGRADING PERMANENT COLLECTIONS THROUGH ACQUISITION OR DIRECT OBJECT CONSERVATION. COLLECTION ITEMS ARE PROTECTED, KEPT UNENCUMBERED, CARED FOR AND PRESERVED. SCHEDULE D, PAGE 3, PART X THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION AND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, INCOME TAX EXPENSE IS LIMITED TO ACTIVITIES THAT ARE DEEMED BY THE INTERNAL REVENUE SERVICE TO BE UNRELATED TO THEIR EXEMPT PURPOSES. THE ORGANIZATION'S PRIMARY TAX POSITIONS RELATE TO ITS STATUS AS A NOT- FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES AND CLASSIFICATION OF ACTIVITIES RELATED TO ITS EXEMPT PURPOSES. IT IS THE OPINION OF MANAGEMENT THAT THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE ORGANIZATION IS REQUIRED TO FILE A FEDERAL EXEMPT ORGANIZATION TAX RETURN (FORM 990) ANNUALLY TO RETAIN ITS EXEMPT STATUS. THE ORGANIZATION IS ALSO REQUIRED TO FILE AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) FOR ANY YEAR GROSS UNRELATED BUSINESS INCOME EXCEEDS 1,000. THE ORGANIZATION'S FORM 990 FILINGS ARE GENERALLY SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THREE YEARS AFTER THEY ARE FILED. SCHEDULE D, PAGE 4, PART XI, LINE 2D COST OF GOODS SOLD 228,744 RENTAL EXPENSES 15,154 SCHEDULE D, PAGE 4, PART XII, LINE 2D COST OF GOODS SOLD 228,744 RENTAL EXPENSES 15,154 X 3 10368 FAIR MARKET VALUE X 17 391865 FMV AND APPRAISALS X SUPPLIES 1 585 FMV 4 false true false FORM 990, PAGE 6, PART VI, LINE 11B THE TAX RETURN IS REVIEWED IN DETAIL BY THE AUDIT COMMITTEE AND SUBMITTED FOR APPROVAL TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. UPON APPROVAL BY THE EXECUTIVE COMMITTEE FORM 990 IS ELECTRONICALLY DISTRIBUTED TO OUR BOARD MEMBERS FOR REVIEW PRIOR TO FILING THE RETURN. FORM 990, PAGE 6, PART VI, LINE 12C ANNUAL STATEMENT OF COMPLIANCE IS OBTAINED FROM EACH TRUSTEE AND KEY EMPLOYEE. FORM 990, PAGE 6, PART VI, LINE 15A THE PRESIDENT'S SALARY IS DETERMINED PERIODICALLY USING COMPARATIVE DATA DEVELOPED BY AN INDEPENDENT COMPENSATION CONSULTANT. THE DATA IS REVIEWED BY THE EXECUTIVE COMMITTEE THEN APPROVED BY THE BOARD OF TRUSTEES. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON SPECIFIC REQUEST. FORM 990, PART XI PRIOR PERIOD ADJUSTMENT- TO ADJUST THE VALUE OF COLLECTION ITEMS FOR ITEMS NOT RECORDED AT COST (IF PURCHASED) OR FAIR VALUE AT THE DATE OF ACCESSION (IF DONATED) AND TO ADJUST TO CORRECT VALUES AS OF JANUARY 1, 2005 AND FORWARD.