Civic Intelligence

Downtown Statesville Development Corporation Inc

990 • Fiscal year 2023 • EIN 56-1371833

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 30, 2024

Organization ProfileN/A
112 South Center StreetStatesville, NC 28677

(704) 878-3436

Siviq Scores

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

Liabilities / Assets

76th percentile

0.09x

Higher debt load relative to assets than 76% of similar nonprofits.

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

Liabilities / Revenue

77th percentile

0.09x

Higher debt load relative to revenue than 77% of similar nonprofits.

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

Net Margin

52nd percentile

6.9%

Higher net margin than 52% of similar nonprofits.

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

Top Officer Pay

98th percentile

$104,335

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 31.3% of source-year revenue.

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

Asset Growth

65th percentile

11%

Faster asset growth than 65% of similar nonprofits.

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

Revenue Growth

76th percentile

39%

Faster revenue growth than 76% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$324,967

Up $32,126 (+11%) from 2022

Net Assets

Up

$295,858

Up $23,153 (+8.5%) from 2022

Liabilities

Up

$29,109

Up $8,973 (+45%) from 2022

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin52nd percentile

Revenue

Up

$333,452

Up $93,882 (+39%) from 2022

Expenses

Up

$310,299

Up $83,532 (+37%) from 2022

Net Income

Up

$23,153

Up $10,350 (+81%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

$400K$300K$200K$100K$0Assets 2010: $90,644Liabilities 2010: $0Net Assets 2010: $90,6442010Assets 2011: $92,954Liabilities 2011: $0Net Assets 2011: $92,9542011Assets 2012: $313,675Liabilities 2012: $125,000Net Assets 2012: $188,6752012Assets 2013: $318,802Liabilities 2013: $125,000Net Assets 2013: $193,8022013Assets 2014: $328,459Liabilities 2014: $125,000Net Assets 2014: $203,4592014Assets 2015: $332,569Liabilities 2015: $125,000Net Assets 2015: $207,5692015Assets 2016: $352,217Liabilities 2016: $125,000Net Assets 2016: $227,2172016Assets 2017: $360,270Liabilities 2017: $125,599Net Assets 2017: $234,6712017Assets 2018: $377,444Liabilities 2018: $130,033Net Assets 2018: $247,4112018Assets 2019: $225,570Liabilities 2019: $5,453Net Assets 2019: $220,1172019Assets 2020: $257,006Liabilities 2020: $7,370Net Assets 2020: $249,6362020Assets 2021: $269,664Liabilities 2021: $9,762Net Assets 2021: $259,9022021Assets 2022: $292,841Liabilities 2022: $20,136Net Assets 2022: $272,7052022Assets 2023: $324,967Liabilities 2023: $29,109Net Assets 2023: $295,8582023Assets 2024: $356,206Liabilities 2024: $31,697Net Assets 2024: $324,5092024

Highlighted filing

2023

Assets$324,967
Liabilities$29,109
Net Assets$295,858
Open 2023 Filing

Operations Trend

Revenue Growth76th percentile

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

$400K$300K$200K$100K$0-$100KExpenses 2010: $148,5132010Expenses 2011: $149,2332011Revenue 2012: $247,132Expenses 2012: $151,411Net Income 2012: $95,7212012Expenses 2013: $147,7202013Revenue 2014: $163,054Expenses 2014: $153,402Net Income 2014: $9,6522014Revenue 2015: $161,233Expenses 2015: $157,123Net Income 2015: $4,1102015Revenue 2016: $205,135Expenses 2016: $185,487Net Income 2016: $19,6482016Revenue 2017: $234,705Expenses 2017: $227,251Net Income 2017: $7,4542017Revenue 2018: $226,398Expenses 2018: $213,658Net Income 2018: $12,7402018Revenue 2019: $203,700Expenses 2019: $231,346Net Income 2019: -$27,6462019Revenue 2020: $255,196Expenses 2020: $225,677Net Income 2020: $29,5192020Revenue 2021: $179,844Expenses 2021: $171,349Net Income 2021: $8,4952021Revenue 2022: $239,570Expenses 2022: $226,767Net Income 2022: $12,8032022Revenue 2023: $333,452Expenses 2023: $310,299Net Income 2023: $23,1532023Revenue 2024: $334,303Expenses 2024: $305,652Net Income 2024: $28,6512024

Highlighted filing

2023

Revenue$333,452
Expenses$310,299
Net Income$23,153
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 30, 2024
Return Version
2022v5.0
Gross Receipts
$333,452
Mission and Program Overview

Mission

Downtown statesveille development corporation, inc. Is a nonprofit organization that exists to provide leadership dedicated to the historic preservation and enhancement of downtown statesville. Our organization promotes downtown as the primary center for economic growth opportunities, social experiences and cultural arts in statesville.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$118,958$323,664▲ $204,706
Savings and Temporary Cash Investments$171,999$0▼ $171,999
Land, Buildings, and Equipment, Net$1,884$1,303▼ $581
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$292,841$324,967▲ $32,126
Other Assets Total-$0-
Liabilities
Deferred Revenue-$18,044-
Accounts Payable and Accrued Expenses$20,136$11,065▼ $9,071
Total Liabilities$20,136$29,109▲ $8,973
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$272,705$295,858▲ $23,153
Total Net Assets Fund Balance$272,705$295,858▲ $23,153
Total Liabilities and Net Assets / Fund Balance$292,841$324,967▲ $32,126

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,303$10,915$12,218
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brittany MarlowExecutive DirectorFT$104,026$309$104,335

Board Members and Trustees

NameTitle
Doug HendrixChairman
Wes DavidsonOutgoing Chair
Billy Buck BlevinsBoard Member
Dean WootenBoard Member
Donald Hicks JrBoard Member
Edwin LlerenaBoard Member
Emilio LopezBoard Member
Jim DuffeyBoard Member
Joe BondiBoard Member
John ChildressBoard Member
Kelli Simko WalkerBoard Member
Kevin HollifieldBoard Member
Larry SchaefferBoard Member
Marin TomlinBoard Member
Stamey Holland IIIBoard Member
Trey RobertsonBoard Member
Jennifer GrantSecretary
Joshua SpeerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$186,914
Program Service Revenue
$145,504
Investment Income
$1,034
Other Revenue
$0
Change in Net Assets
$23,153

Audited Revenue Reconciliation

Revenue per Audited Statements
$333,452
Total Revenue per Audited Statements
$333,452
Total Revenue per Form 990
$333,452
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$186,299
Salaries, Compensation, and Employee Benefits$124,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$91,778$12,248-$104,026
Advertising$20,868--$20,868
Fees for Services Accounting-$16,865-$16,865
All Other Expenses$2,147$9,889-$12,036
Other Salaries and Wages$9,677$1,291-$10,968
Occupancy$7,215$2,405-$9,620
Payroll Taxes$7,453$1,036-$8,489
Insurance$3,478$1,159-$4,637
Other Expenses$4,187$3,519-$3,519
Office Expenses$2,070$930-$3,000
Fees for Services Other$1,860--$1,860
Depreciation Depletion$436$145-$581
Other Employee Benefits$454$63-$517
Travel-$164-$164
Total Functional Expenses$260,420$49,879$0$310,299

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$310,299
Total Expenses per Audited Statements$310,299
Total Expenses per Form 990$310,299
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Director provided the board the return for review.”

Form 990, Part VI, Section B, Line 15A

“Comparison done with similiar positions at similar organizations. Board approves compensation.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Downtown Statesville Development
EIN
56-1371833
Phone
7048783436
Address
112 South Center Street, Statesville, NC 28677

Signing Officer

Name
Joshua Speer
Title
Treasurer
Signed
2024-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joshua Speer
Formed
1983
Legal Domicile
Nc
Voting Board Members
19
Independent Board Members
18
Employees
2
Volunteers
100

Preparer

Firm
Foard and Company PA
Address
1347 Harding Place, Charlotte, NC 28204
Preparer
Garrett Summers
Phone
7043721515
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Part x - fin 48 footnote the organization is exempt from income taxes under section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes has been made in the accompanying financial statements. Donation to the organization qualify as charitable contributions for income tax purposes. The organization believes that it has appropriate support for any tax positions taken, as such does not have any uncertain tax positions that are material to the financial statements. Further, no interest or penalties have been accrued or charged to the expense as of june 30, 2023 or for the year then ended. The organization's federal return of organization exempt form income tax (form 990) for the years ended june 30, 2020 - june 30, 2023 are subject to examination by the irs, generally for three year after they were filed.”

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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$324,967
Liabilities
$29,109
Net assets
$295,858
Revenue
$333,452
Expenses
$310,299
Net income
$23,153
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.56$0.32$3.25$3.34$3.06$0.29
2023Detailed filing. Detailed filing data is available for this year.$3.25$0.29$2.96$3.33$3.10$0.23
2022Detailed filing. Detailed filing data is available for this year.$2.93$0.20$2.73$2.40$2.27$0.13
2021Detailed filing. Detailed filing data is available for this year.$2.70$0.10$2.60$1.80$1.71$0.08
2020Detailed filing. Detailed filing data is available for this year.$2.57$0.07$2.50$2.55$2.26$0.30
2019Detailed filing. Detailed filing data is available for this year.$2.26$0.05$2.20$2.04$2.31$0.28
2018Detailed filing. Detailed filing data is available for this year.$3.77$1.30$2.47$2.26$2.14$0.13
2017Detailed filing. Detailed filing data is available for this year.$3.60$1.26$2.35$2.35$2.27$0.07
2016Detailed filing. Detailed filing data is available for this year.$3.52$1.25$2.27$2.05$1.85$0.20
2015Detailed filing. Detailed filing data is available for this year.$3.33$1.25$2.08$1.61$1.57$0.04
2014Detailed filing. Detailed filing data is available for this year.$3.28$1.25$2.03$1.63$1.53$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.19$1.25$1.94$1.48
2012Summary only. Only limited summary data is available for this year.$3.14$1.25$1.89$2.47$1.51$0.96
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.00$0.93$1.49
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.00$0.91$1.49
Peer Organizations

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