Rowan Vocational Opportunities Inc
- Assets
- $10.4m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 225
- Location
- Salisbury, NC
- Founding
- 02/1968
- Data as of
- 06/2024
- EIN
- 56-0890711
Organization Overview
Rowan Vocational Opportunities Inc is located in Salisbury, NC. The organization was established in 1968. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 06/2024, Rowan Vocational Opportunities Inc employed 225 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rowan Vocational Opportunities Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Rowan Vocational Opportunities Inc generated $5.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $4.3m during the year ending 06/2024. While expenses have increased by 2.9% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZED TO PROVIDE VOCATIONAL ASSESSMENT, WORK ADJUSTMENT TRAINING AND DAY ACTIVITY TO PHYSICALLY, MENTALLY, OR EMOTIONALLY HANDICAPPED ADULTS; TO DEVELOP WORK SKILLS LEADING TO EMPLOYMENT AND/OR DAILY LIVING SKILLS TO INCREASE INDEPENDENT FUNCTIONING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTION - PRIVATE INDUSTRIES PROVIDE CONTRACT WORK TO THE WORKSHOP TO GIVE CLIENTS HANDS ON VOCATIONAL TRAINING.
ADULT DEVELOPMENT - A COMBINATION OF WORK, EDUCATIONAL, AND SOCIAL ACTIVITIES FOR MENTALLY HANDICAPPED ADULTS UNABLE PARTICIPATE IN OTHER ENVIRONMENTS.
INNOVATIONS SERVICES - SPEECH AND PHYSICAL THERAPY ALONG WITH SOME RECREATIONAL ACTIVITIES PROVIDED TO PROFOUNDLY HANDICAPPED ADULTS - NO WORK OR PAY INVOLVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maria Miller Director | Trustee | 1 | $0 |
Ed Lanear Director | Trustee | 1 | $0 |
Erik Lipscomb Director | Trustee | 1 | $0 |
Beth Loney Director | Trustee | 2 | $0 |
Jeff Wetmore Director | Trustee | 2 | $0 |
Tracie Sells Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $34,656 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $66,532 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $101,188 |
| Total Program Service Revenue | $2,797,289 |
| Investment income | $117,451 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,121,372 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,655,638 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $175,371 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,988 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $50,611 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $152,633 |
| Insurance | $0 |
| All other expenses | $5,528 |
| Total functional expenses | $4,344,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $775,460 |
| Savings and temporary cash investments | $1,689,221 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $581,477 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $36,269 |
| Net Land, buildings, and equipment | $3,911,776 |
| Investments—publicly traded securities | $3,363,489 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,357,692 |
| Accounts payable and accrued expenses | $357,918 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,217,260 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,575,178 |
| Net assets without donor restrictions | $8,782,514 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,357,692 |