Civic Intelligence

Downtown Belmont Development Association

EIN 47-4333734 • 501(c)3 • Belmont, NC

Pub. 78 Eligible990-N CoverageNTEE A99

Profile

To further advance the economic, aesthetic and cultural environment of historic downtown belmont, nc.

PO Box 431Belmont, NC 28012

downtownbelmont.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

75th percentile

0.06x

Higher debt load relative to assets than 75% of similar nonprofits.

NTEE A99 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

68th percentile

0.01x

Higher debt load relative to revenue than 68% of similar nonprofits.

NTEE A99 • <$500k nonprofits • Source year 2024

Net Margin

28th percentile

-1.5%

Higher net margin than 28% of similar nonprofits.

NTEE A99 • <$500k nonprofits • Source year 2024

Top Officer Pay

80th percentile

$0

Higher top officer pay than 80% of similar nonprofits.

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

NTEE A99 • <$500k nonprofits • Source year 2024

Asset Growth

19th percentile

-44%

Faster asset growth than 19% of similar nonprofits.

NTEE A99 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

81st percentile

60%

Faster revenue growth than 81% of similar nonprofits.

NTEE A99 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$47,130

Down $36,436 (-44%) from 2023

Liabilities

Down

$3,003

Down $32,408 (-92%) from 2023

Net Assets

Down

$44,127

Down $4,028 (-8.4%) from 2023

Operations
Liabilities / Revenue68th percentileNet Margin28th percentile

Revenue

Up

$261,997

Up $97,821 (+60%) from 2023

Expenses

Up

$266,025

Up $100,107 (+60%) from 2023

Net Income

Down

-$4,028

Down $2,286 (-131%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth19th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100K$50K$0Assets 2017: $13,851Liabilities 2017: $0Net Assets 2017: $13,8512017Assets 2019: $35,156Liabilities 2019: $0Net Assets 2019: $35,1562019Assets 2021: $40,734Liabilities 2021: $0Net Assets 2021: $40,7342021Assets 2022: $53,665Liabilities 2022: $3,768Net Assets 2022: $49,8972022Assets 2023: $83,566Liabilities 2023: $35,411Net Assets 2023: $48,1552023Assets 2024: $47,130Liabilities 2024: $3,003Net Assets 2024: $44,1272024

Highlighted filing

2024

Assets$47,130
Liabilities$3,003
Net Assets$44,127
Open 2024 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0-$100KRevenue 2017: $80,012Expenses 2017: $74,040Net Income 2017: $5,9722017Revenue 2019: $116,433Expenses 2019: $112,568Net Income 2019: $3,8652019Revenue 2021: $46,428Expenses 2021: $31,850Net Income 2021: $14,5782021Revenue 2022: $257,249Expenses 2022: $222,676Net Income 2022: $34,5732022Revenue 2023: $164,176Expenses 2023: $165,918Net Income 2023: -$1,7422023Revenue 2024: $261,997Expenses 2024: $266,025Net Income 2024: -$4,0282024

Highlighted filing

2024

Revenue$261,997
Expenses$266,025
Net Income-$4,028
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$47,130
Liabilities
$3,003
Net assets
$44,127
Revenue
$261,997
Expenses
$266,025
Net income
-$4,028
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.47$0.03$0.44$2.62$2.66$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.84$0.35$0.48$1.64$1.66$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.54$0.04$0.50$2.57$2.23$0.35
2021Detailed filing. Detailed filing data is available for this year.$0.41$0.00$0.41$0.46$0.32$0.15
2019Summary only. Only limited summary data is available for this year.$0.35$0.00$0.35$1.16$1.13$0.04
2017Summary only. Only limited summary data is available for this year.$0.14$0.00$0.14$0.80$0.74$0.06
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Dec 19, 2024
Return Version
2023v5.0
Gross Receipts
$261,997
Mission and Program Overview

Mission

To further advance the economic, aesthetic and cultural environment of historic downtown belmont, nc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$52,614$36,157▼ $16,457
Prepaid Expenses and Deferred Charges$30,952$10,973▼ $19,979
Total Assets$83,566$47,130▼ $36,436
Liabilities
Unsecured Notes Loans Payable$32,500--
Accounts Payable and Accrued Expenses$2,911$3,003▲ $92
Total Liabilities$35,411$3,003▼ $32,408
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$48,155$44,127▼ $4,028
Total Net Assets Fund Balance$48,155$44,127▼ $4,028
Total Liabilities and Net Assets / Fund Balance$83,566$47,130▼ $36,436
Compensation and Service Providers
Top Officer Pay80th percentile

Board Members and Trustees

NameTitle
Jennifer ChurchChair
Joe JordanVice Chair
Alex SzucsBoard Member
Susan MartelloBoard Member
Jim HefferanAppt. Counci
Cassidy LackeyCommunity De
Amy BossardDesign Commi
Al WallEvc Co- Chai
Kelly GlantzOrganization
Seth SherrinOrganization
Kevin KrouseSecretary
Elizabeth SimcoxTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$64,350
Program Service Revenue
$197,647
Investment Income
$0
Other Revenue
$0
All Other Contributions
$44,350
Change in Net Assets
$-4,028

Audited Revenue Reconciliation

Revenue per Audited Statements
$261,997
Total Revenue per Audited Statements
$261,997
Total Revenue per Form 990
$261,997
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$251,388
Grants and Similar Amounts Paid$14,637
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$30,526--$30,526
All Other Expenses$14,899--$14,899
Grants to Domestic Orgs$14,637--$14,637
Fees for Services Accounting-$8,175-$8,175
Insurance$2,876--$2,876
Office Expenses-$814-$814
Total Functional Expenses$257,036$8,989$0$266,025

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$266,025
Total Expenses per Audited Statements$266,025
Total Expenses per Form 990$266,025
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Reviewed by the executive board members, before being fully submitted to irs.”

Form 990, Page 6, Part VI, Line 19

“990 kept in the director's office who is a city employee and therefore is open to the public.”

Filing and Contact Details

Filer

Filer Name
Downtown Belmont Development Assoc
EIN
47-4333734
Phone
7049012082
Address
PO BOX 431, BELMONT, NC 28012

Signing Officer

Name
Elizabeth Simcox
Title
Treasurer
Signed
2024-12-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Simcox
Formed
2015
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
80

Preparer

Firm
Mccannon Rogers Driscoll & Assoc Llp
Address
PO BOX 339, GASTONIA, NC 28053-0339
Preparer
Karen M Walker
Phone
7048670264
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“ALL OTHER EVENTS”

Raw XML Appendix392 raw XML fields

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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ReturnHeader/PreparerPersonGrp/PreparationDt02024-12-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KAREN M WALKER
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ReturnHeader/ReturnTs02024-12-23T10:02:11-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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