Civic Intelligence

Downtown Belmont Development Association

990 • Fiscal year 2022 • EIN 47-4333734

Jul 01, 2021 to Jun 30, 2022 • Filed on May 10, 2023

Organization ProfileDOWNTOWNBELMONT.ORG
PO Box 431Belmont, NC 28012

(704) 901-2082

Siviq Scores

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

Liabilities / Assets

75th percentile

0.07x

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

2022 filings • NTEE A99 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

67th percentile

0.01x

Higher debt load relative to revenue than 67% of similar nonprofits.

2022 filings • NTEE A99 • <$500k nonprofits • Source year 2022

Net Margin

59th percentile

13%

Higher net margin than 59% of similar nonprofits.

2022 filings • NTEE A99 • <$500k nonprofits • Source year 2022

Top Officer Pay

82nd percentile

$0

Higher top officer pay than 82% of similar nonprofits.

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

2022 filings • NTEE A99 • <$500k nonprofits • Source year 2022

Asset Growth

70th percentile

32%

Faster asset growth than 70% of similar nonprofits.

2022 filings • NTEE A99 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

89th percentile

454%

Faster revenue growth than 89% of similar nonprofits.

2022 filings • NTEE A99 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$53,665

Up $12,931 (+32%) from 2021

Net Assets

Up

$49,897

Up $9,163 (+22%) from 2021

Liabilities

Up

$3,768

Up $3,768 from 2021

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin59th percentile

Revenue

Up

$257,249

Up $210,821 (+454%) from 2021

Expenses

Up

$222,676

Up $190,826 (+599%) from 2021

Net Income

Up

$34,573

Up $19,995 (+137%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$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

2022

Assets$53,665
Liabilities$3,768
Net Assets$49,897
Open 2022 Filing

Operations Trend

Revenue Growth89th percentile

Revenue, expenses, and net income across loaded years, with this 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

2022

Revenue$257,249
Expenses$222,676
Net Income$34,573
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 10, 2023
Return Version
2021v4.0
Gross Receipts
$257,249
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$40,734$51,621▲ $10,887
Prepaid Expenses and Deferred Charges-$2,044-
Total Assets$40,734$53,665▲ $12,931
Liabilities
Accounts Payable and Accrued Expenses-$3,768-
Total Liabilities$0$3,768▲ $3,768
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$40,734$49,897▲ $9,163
Total Net Assets Fund Balance$40,734$49,897▲ $9,163
Total Liabilities and Net Assets / Fund Balance$40,734$53,665▲ $12,931
Compensation and Service Providers
Top Officer Pay82nd percentile

Board Members and Trustees

NameTitle
Jennifer ChurchChair
Emilie RudisillVice Chair
Al WallDirector
Amy BossardDirector
Angela StreetDirector
Joe JordanDirector
Phil BogganDowntown Director
Jim HefferanAppt. Counci
Marc SeelingerAppt. Counci
Kevin KrouseAsst. City M
Seth SherrinOrganization
Elizabeth SimcoxTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$145,100
Program Service Revenue
$111,558
Investment Income
$0
Other Revenue
$591
All Other Contributions
$111,600
Change in Net Assets
$34,573

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table2$25,100
Total Noncash Contributions2$25,100

Audited Revenue Reconciliation

Revenue per Audited Statements
$257,249
Total Revenue per Audited Statements
$257,249
Total Revenue per Form 990
$257,249
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$222,676
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$20,775--$20,775
Fees for Services Accounting-$1,212-$1,212
Other Expenses$33,408$1,009-$1,009
Insurance$809--$809
All Other Expenses-$235-$235
Total Functional Expenses$220,220$2,456$0$222,676

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$222,676
Total Expenses per Audited Statements$222,676
Total Expenses per Form 990$222,676
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 downtowns directors office which is a city employee and therfore 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
Phone
7049012082
Signed
2023-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Church
Formed
2015
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
144

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 Appendix389 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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IRS990/Form990PartVIISectionAGrp/TitleTxt0DOWNTOWN DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3APPT. COUNCI
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEWED BY THE EXECUTIVE BOARD MEMBERS, BEFORE BEING FULLY SUBMITTED TO IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2990 KEPT IN THE DOWNTOWNS DIRECTORS OFFICE WHICH IS A CITY EMPLOYEE AND THERFORE OPEN TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CITY
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt040734
IRS990/TotalAssetsEOYAmt053665
IRS990/TotalAssetsGrp/BOYAmt040734
IRS990/TotalAssetsGrp/EOYAmt053665
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0145100
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02456
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0220220
IRS990/TotalFunctionalExpensesGrp/TotalAmt0222676
IRS990/TotalGrossUBIAmt00
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IRS990/TotalOtherProgSrvcExpenseAmt038382
IRS990/TotalOtherProgSrvcRevenueAmt013465
IRS990/TotalProgramServiceExpensesAmt0220220
IRS990/TotalProgramServiceRevenueAmt0111558
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0112149
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0257249
IRS990/TotalVolunteersCnt0144
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt040734
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt053665
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/ZIPCd028032
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0DOWNTOWNBELMONT.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ELIZABETH SIMCOX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07049012082
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DOWNTOWN BELMONT DEVELOPMENT ASSOC
ReturnHeader/Filer/BusinessNameControlTxt0DOWN
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ReturnHeader/Filer/PhoneNum07049012082
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028012
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561056216
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCCANNON ROGERS DRISCOLL & ASSOC LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 339
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GASTONIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0280530339
ReturnHeader/PreparerPersonGrp/PhoneNum07048670264
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KAREN M WALKER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-05-15T16:43:08-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ELIZABETH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SIMCOX
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$53,665
Liabilities
$3,768
Net assets
$49,897
Revenue
$257,249
Expenses
$222,676
Net income
$34,573
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