Civic Intelligence

Smart Kinston City Project Foundation

990EZ • Fiscal year 2023 • EIN 46-3476101

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

604 North Queen StKinston, NC 28504

(252) 208-2527

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

58th percentile

0.03x

Higher debt load relative to assets than 58% of similar nonprofits.

2023 filings • NTEE S30 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

70th percentile

0.08x

Higher debt load relative to revenue than 70% of similar nonprofits.

2023 filings • NTEE S30 • <$500k nonprofits • Source year 2023

Net Margin

41st percentile

-1.4%

Higher net margin than 41% of similar nonprofits.

2023 filings • NTEE S30 • <$500k nonprofits • Source year 2023

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE S30 • <$500k nonprofits • Source year 2023

Asset Growth

68th percentile

30%

Faster asset growth than 68% of similar nonprofits.

2023 filings • NTEE S30 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

19th percentile

-49%

Faster revenue growth than 19% of similar nonprofits.

2023 filings • NTEE S30 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$167,488

Up $38,846 (+30%) from 2022

Net Assets

Up

$162,140

Up $33,852 (+26%) from 2022

Liabilities

Up

$5,348

Up $4,994 (+1411%) from 2022

Revenue

Down

$65,249

Down $61,709 (-49%) from 2022

Expenses

Up

$66,191

Up $6,677 (+11%) from 2022

Net Income

Down

-$942

Down $68,386 (-101%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2013: $1Liabilities 2013: $02013Assets 2014: $116,657Liabilities 2014: $0Net Assets 2014: $116,6572014Assets 2015: $215,826Liabilities 2015: $3,540Net Assets 2015: $212,2862015Assets 2016: $140,748Liabilities 2016: $4,286Net Assets 2016: $136,4622016Assets 2017: $189,631Liabilities 2017: $15,262Net Assets 2017: $174,3692017Assets 2018: $63,739Liabilities 2018: $1,132Net Assets 2018: $62,6072018Assets 2019: $39,111Liabilities 2019: $1,522Net Assets 2019: $37,5892019Assets 2020: $17,538Liabilities 2020: $0Net Assets 2020: $17,5382020Assets 2021: $61,720Liabilities 2021: $876Net Assets 2021: $60,8442021Assets 2022: $128,642Liabilities 2022: $354Net Assets 2022: $128,2882022Assets 2023: $167,488Liabilities 2023: $5,348Net Assets 2023: $162,1402023Assets 2024: $200,307Liabilities 2024: $0Net Assets 2024: $200,3072024

Highlighted filing

2023

Assets$167,488
Liabilities$5,348
Net Assets$162,140

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200K$100K$0-$100K-$200KRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2014: $116,657Expenses 2014: $0Net Income 2014: $116,6572014Revenue 2015: $149,930Expenses 2015: $54,301Net Income 2015: $95,6292015Revenue 2016: $4,429Expenses 2016: $80,253Net Income 2016: -$75,8242016Revenue 2017: $168,564Expenses 2017: $130,657Net Income 2017: $37,9072017Revenue 2018: $16,324Expenses 2018: $128,086Net Income 2018: -$111,7622018Revenue 2019: $64,943Expenses 2019: $89,961Net Income 2019: -$25,0182019Revenue 2020: $60,320Expenses 2020: $74,895Net Income 2020: -$14,5752020Revenue 2021: $102,137Expenses 2021: $58,831Net Income 2021: $43,3062021Revenue 2022: $126,958Expenses 2022: $59,514Net Income 2022: $67,4442022Revenue 2023: $65,249Expenses 2023: $66,191Net Income 2023: -$9422023Revenue 2024: $98,433Expenses 2024: $60,266Net Income 2024: $38,1672024

Highlighted filing

2023

Revenue$65,249
Expenses$66,191
Net Income-$942
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$65,249
Mission and Program Overview

Mission

To allow the public and organizations to participate in the revitalization of certain downtown areas in order to attract certain creative workforces and cultural tourists.

Program Services

DescriptionGrantsExpenses
With relocation of first artists, smART Kinston has begun to see the fruits of its reparatory work. Applications continue to come in as we shape the Arts and Cultural District into the focal point of Kinston's revitalization efforts. Construction on Arts Riverwalk and neighborhood entrance has begun and will soon solidify district as a destination. Recruitment of artists continues. Promotion of project has received much local media attention, but soon will grow into regional and statewide publicity as scope of recruitment reach increases. Continued support from local businesses has broadened reach of recruitment efforts. Construction on public art entrance to neighborhood is complete and partnerships with legacy non-profits have led to proceeds sharing from local events and joint initiatives. The Arts Council, Cooperative Extension and public school system collaborating to make entrance part of school curricula. Donation from Committee of 100 shows willingness of local leaders of commerce to invest in the district, which they view as an arts-based business incubator. Community college partnership continues to provide resource for artists starting their first businesses. Continued support from restaurateurs and other business owners, both financially and through promotion, has led to an upswing in tours of the neighborhood and conversations with additional stakeholders about future partnerships.$63,271$27,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stephen B HillChairman-$0--
Glenn GannettTreasurer-$0--
Stuart LindleyBoard Member-$0--
Filing and Contact Details

Filer

Filer Name
Smart Kinston Foundation
EIN
46-3476101
Phone
2522082527
Address
604 North Queen St, Kinston, NC 28504

Signing Officer

Name
Stephen B Hill
Title
President
Phone
2522082527
Signed
2024-11-14
Discuss with paid preparer
Yes

Preparer

Firm
Forvis Mazars LLP
Address
500 Ridgefield Court, Asheville, NC 28806
Preparer
Amy Bibby
Phone
8282542254
Supplemental Narrative

Additional Explanations

Form 990-EZ, Part I, Line 10 Grants Paid

Activity:project grants ( 3 individuals);grantee name:;grantee address: , , none, , us;amount:12000;relationship:none;activity:art supplies;grantee name:;grantee address: , , none, , us;amount:10500;relationship:none;

Form 990-EZ, Part I, Line 16 Other Expenses

Office Supplies - 693; Advertising - 1530; Meals - 319; Memberships & Dues - 175; Conferences & Meetings - 528; Staff Development - 599; Bank Fees - 138; Business Registration Fees - 600; Miscellaneous - 2130; Equipment Expense - 75; Depreciation - 2319;

Form 990-EZ, Part I, Line 20 Net Assets Change

Prior Period Adjustment - 34794;

Form 990-EZ, Part II, Line 24B Other Assets

Other Assets - BOY:0,EOY:45;

Form 990-EZ, Part II, Line 26B Total Liabilities

Other Liabilities - BOY:354,EOY:5348;

Form 990-EZ, Part III, Exempt Purpose PRIMARY EXEMPT PURPOSE

To allow the public and organizations to participate in the revitalization of certain downtown areas in order to attract certain creative workforces and cultural tourists.

Form 990EZ, Part III, Line 28 DESCRIPTION OF OTHER PROGRAM SERVICES

With relocation of first artists, smART Kinston has begun to see the fruits of its reparatory work. Applications continue to come in as we shape the Arts and Cultural District into the focal point of Kinston's revitalization efforts. Construction on Arts Riverwalk and neighborhood entrance has begun and will soon solidify district as a destination. Recruitment of artists continues. Promotion of project has received much local media attention, but soon will grow into regional and statewide publicity as scope of recruitment reach increases. Continued support from local businesses has broadened reach of recruitment efforts. Construction on public art entrance to neighborhood is complete and partnerships with legacy non-profits have led to proceeds sharing from local events and joint initiatives. The Arts Council, Cooperative Extension and public school system collaborating to make entrance part of school curricula. Donation from Committee of 100 shows willingness of local leaders of commerce to invest in the district, which they view as an arts-based business incubator. Community college partnership continues to provide resource for artists starting their first businesses. Continued support from restaurateurs and other business owners, both financially and through promotion, has led to an upswing in tours of the neighborhood and conversations with additional stakeholders about future partnerships.

FORM 990-EZ, PART V, INFORMATION REGARDING PERSONAL BENEFIT CONTRACTS:

The organization did not, during the year, receive any funds, directly, or indirectly, to pay premiums on a personal benefit contract. The organization, did not, during the year, pay any premiums, directly, or indirectly, on a personal benefit contract.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ACTIVITY:PROJECT GRANTS ( 3 INDIVIDUALS);GRANTEE NAME:;GRANTEE ADDRESS: , , NONE, , US;AMOUNT:12000;RELATIONSHIP:NONE;ACTIVITY:ART SUPPLIES;GRANTEE NAME:;GRANTEE ADDRESS: , , NONE, , US;AMOUNT:10500;RELATIONSHIP:NONE;
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Office Supplies - 693; Advertising - 1530; Meals - 319; Memberships & Dues - 175; Conferences & Meetings - 528; Staff Development - 599; Bank Fees - 138; Business Registration Fees - 600; Miscellaneous - 2130; Equipment Expense - 75; Depreciation - 2319;
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5TO ALLOW THE PUBLIC AND ORGANIZATIONS TO PARTICIPATE IN THE REVITALIZATION OF CERTAIN DOWNTOWN AREAS IN ORDER TO ATTRACT CERTAIN CREATIVE WORKFORCES AND CULTURAL TOURISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6With relocation of first artists, smART Kinston has begun to see the fruits of its reparatory work. Applications continue to come in as we shape the Arts and Cultural District into the focal point of Kinston's revitalization efforts. Construction on Arts Riverwalk and neighborhood entrance has begun and will soon solidify district as a destination. Recruitment of artists continues. Promotion of project has received much local media attention, but soon will grow into regional and statewide publicity as scope of recruitment reach increases. Continued support from local businesses has broadened reach of recruitment efforts. Construction on public art entrance to neighborhood is complete and partnerships with legacy non-profits have led to proceeds sharing from local events and joint initiatives. The Arts Council, Cooperative Extension and public school system collaborating to make entrance part of school curricula. Donation from Committee of 100 shows willingness of local leaders of commerce to invest in the district, which they view as an arts-based business incubator. Community college partnership continues to provide resource for artists starting their first businesses. Continued support from restaurateurs and other business owners, both financially and through promotion, has led to an upswing in tours of the neighborhood and conversations with additional stakeholders about future partnerships.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY, OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT. THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY, OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990-EZ, Part I, Line 10 Grants Paid
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990-EZ, Part III, Exempt Purpose PRIMARY EXEMPT PURPOSE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990EZ, Part III, Line 28 DESCRIPTION OF OTHER PROGRAM SERVICES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990-EZ, PART V, INFORMATION REGARDING PERSONAL BENEFIT CONTRACTS:
ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Amy Bibby
ReturnHeader/ReturnTs02024-11-14T10:50:57+00:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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