Civic Intelligence

Downtown Salisbury Inc.

990 • Fiscal year 2021 • EIN 56-1432420

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 20, 2021

Organization ProfileDOWNTOWNSALISBURYNC.COM
PO Box 479Salisbury, NC 28145-0479

(704) 637-7814

Siviq Scores

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

Liabilities / Assets

88th percentile

0.68x

Higher debt load relative to assets than 88% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

96th percentile

5.62x

Higher debt load relative to revenue than 96% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Net Margin

85th percentile

40%

Higher net margin than 85% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Asset Growth

36th percentile

2.4%

Faster asset growth than 36% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

9th percentile

-35%

Faster revenue growth than 9% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$999,865

Up $23,051 (+2.4%) from 2020

Net Assets

Up

$315,204

Up $48,368 (+18%) from 2020

Liabilities

Down

$684,661

Down $25,317 (-3.6%) from 2020

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin85th percentile

Revenue

Down

$121,758

Down $64,581 (-35%) from 2020

Expenses

Down

$73,390

Down $16,122 (-18%) from 2020

Net Income

Down

$48,368

Down $48,459 (-50%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $1,418,539Liabilities 2011: $1,256,831Net Assets 2011: $161,7082011Assets 2012: $1,223,067Liabilities 2012: $1,081,006Net Assets 2012: $142,0612012Assets 2013: $1,248,407Liabilities 2013: $1,053,085Net Assets 2013: $195,3222013Assets 2014: $1,277,170Liabilities 2014: $974,947Net Assets 2014: $302,2232014Assets 2015: $1,278,478Liabilities 2015: $925,022Net Assets 2015: $353,4562015Assets 2016: $1,082,258Liabilities 2016: $936,434Net Assets 2016: $145,8242016Assets 2017: $1,000,658Liabilities 2017: $846,835Net Assets 2017: $153,8232017Assets 2018: $945,646Liabilities 2018: $800,314Net Assets 2018: $145,3322018Assets 2019: $955,628Liabilities 2019: $785,619Net Assets 2019: $170,0092019Assets 2020: $976,814Liabilities 2020: $709,978Net Assets 2020: $266,8362020Assets 2021: $999,865Liabilities 2021: $684,661Net Assets 2021: $315,2042021Assets 2022: $1,051,772Liabilities 2022: $651,477Net Assets 2022: $400,2952022Assets 2023: $1,071,650Liabilities 2023: $585,427Net Assets 2023: $486,2232023Assets 2024: $1,100,652Liabilities 2024: $554,055Net Assets 2024: $546,5972024Assets 2025: $284,341Liabilities 2025: $8,227Net Assets 2025: $276,1142025

Highlighted filing

2021

Assets$999,865
Liabilities$684,661
Net Assets$315,204
Open 2021 Filing

Operations Trend

Revenue Growth9th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $457,882Expenses 2011: $358,769Net Income 2011: $99,1132011Revenue 2012: $273,415Expenses 2012: $293,062Net Income 2012: -$19,6472012Expenses 2013: $195,4012013Revenue 2014: $270,181Expenses 2014: $163,280Net Income 2014: $106,9012014Revenue 2015: $346,333Expenses 2015: $295,100Net Income 2015: $51,2332015Revenue 2016: $372,309Expenses 2016: $351,941Net Income 2016: $20,3682016Revenue 2017: $373,564Expenses 2017: $365,565Net Income 2017: $7,9992017Revenue 2018: $140,313Expenses 2018: $148,804Net Income 2018: -$8,4912018Revenue 2019: $115,159Expenses 2019: $90,482Net Income 2019: $24,6772019Revenue 2020: $186,339Expenses 2020: $89,512Net Income 2020: $96,8272020Revenue 2021: $121,758Expenses 2021: $73,390Net Income 2021: $48,3682021Revenue 2022: $156,707Expenses 2022: $71,616Net Income 2022: $85,0912022Revenue 2023: $226,737Expenses 2023: $140,809Net Income 2023: $85,9282023Revenue 2024: $196,366Expenses 2024: $135,992Net Income 2024: $60,3742024Revenue 2025: $232,272Expenses 2025: $157,734Net Income 2025: $74,5382025

Highlighted filing

2021

Revenue$121,758
Expenses$73,390
Net Income$48,368
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 20, 2021
Return Version
2020v4.0
Gross Receipts
$172,025
Mission and Program Overview

Mission

Promoting, enhancing and managing the development of the commercial, business, economic, residential, civic, and historical development of downtown salisbury, north carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$882,745$880,267▼ $2,478
Savings and Temporary Cash Investments$92,413$108,810▲ $16,397
Accounts Receivable$1,656$10,788▲ $9,132
Total Assets$976,814$999,865▲ $23,051
Liabilities
Mortgage Notes Payable Secured by Investment Property$706,241$681,340▼ $24,901
Accounts Payable and Accrued Expenses$3,737$3,321▼ $416
Total Liabilities$709,978$684,661▼ $25,317
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$265,752$315,204▲ $49,452
Net Assets With Donor Restrictions$1,084--
Total Net Assets Fund Balance$266,836$315,204▲ $48,368
Total Liabilities and Net Assets / Fund Balance$976,814$999,865▲ $23,051

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$267$93,983$94,250
Buildings$880,000--
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
Gianni MoscardiniChair
Mark LewisVice-chair
Alissa RedmondDirector
Bob PotterDirector
Brian MillerDirector
Carrie BardinasDirector
Davis CookeDirector
Elaine SpaldingDirector
Eric PhillipsDirector
Hannah JacobsonDirector
James FaustDirector
James MeachamDirector
Jayne HelmsDirector
Judy KlusmanDirector
Kristen TrexlerDirector
Nick AcevesDirector
Richard HuffmanDirector
Rod CriderDirector
Sada StewartDirector
Samantha HaspelDirector
Tonyan SchoefieldDirector
Whitney W WilliamsDirector
Zack KyleDirector
Latoya PriceInterim Exec
Dileika BallardSecretary
Stan JordanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,471
Program Service Revenue
$166,243
Investment Income
$37
Other Revenue
$-48,993
All Other Contributions
$4,471
Change in Net Assets
$48,368

Audited Revenue Reconciliation

Revenue per Audited Statements
$121,758
Total Revenue per Audited Statements
$121,758
Total Revenue per Form 990
$121,758
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$73,390
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$55,396--$55,396
Fees for Services Other-$5,500-$5,500
Fees for Services Accounting-$3,900-$3,900
Depreciation Depletion-$2,478-$2,478
Insurance-$1,297-$1,297
Office Expenses-$1,069-$1,069
Travel-$610-$610
Other Expenses$153$130-$130
Total Functional Expenses$55,549$17,841$0$73,390

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$73,390
Total Expenses per Audited Statements$73,390
Total Expenses per Form 990$73,390
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
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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, Page 6, Part VI, Line 11B

“The executive director and treasurer review a draft of the 990 and discuss any observations, questions or changes with the cpa return preparer. Management emails each board member a pdf copy of the 990 for their review. Board members are given a period of one week to review the return and reply to management with any observations, questions or changes.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest policy is distributed to board members and staff, who are asked to sign the policy and reveal in writing any potential conflicts of interest. Board members and staff are reminded to recuse themselves from any official action where there may be a conflict of interest.”

Form 990, Page 6, Part VI, Line 15A

“The organization does not have employees”

Form 990, Page 6, Part VI, Line 15B

“The organization does not have employees”

Form 990, Page 6, Part VI, Line 19

“All governing documents, conflict of interest policy and financial statements are made available at the organization's adminstrative office and are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Downtown Salisbury Inc
EIN
56-1432420
Phone
7046377814
Address
PO BOX 479, SALISBURY, NC 28145-0479

Signing Officer

Name
Latoya Price
Title
Interim Executive Dr
Phone
7046377814
Signed
2021-11-20

Organization Details

Principal Officer
Latoya Price
Formed
1983
Legal Domicile
Nc
Voting Board Members
25
Independent Board Members
25
Employees
0
Volunteers
25

Preparer

Firm
Brent H Parks CPA Pa
Address
1816 E INNES ST STE 101, SALISBURY, NC 28146-6027
Preparer
Brent H Parks
Phone
7046338700
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“The volunteers provide service and guidance for various committees.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25INTERIM EXEC
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IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/GrossRentsGrp/RealAmt01274
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IRS990/IncludeFIN48FootnoteInd0false
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IRS990/IndependentVotingMemberCnt025
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IRS990/InfoInScheduleOPartVIInd0X
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IRS990/LandBldgEquipCostOrOtherBssAmt0974250
IRS990/LegalDomicileStateCd0NC
IRS990/LessRentalExpensesGrp/RealAmt050267
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/Organization501c3Ind0X
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IRS990/OtherExpensesGrp/Desc2OTHER
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt032

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$999,865
Liabilities
$684,661
Net assets
$315,204
Revenue
$121,758
Expenses
$73,390
Net income
$48,368
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.01$0.28$0.23$0.16$0.07
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.55$0.55$0.20$0.14$0.06
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.07$0.59$0.49$0.23$0.14$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.05$0.65$0.40$0.16$0.07$0.09
2021Detailed filing. Detailed filing data is available for this year.$1.00$0.68$0.32$0.12$0.07$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.98$0.71$0.27$0.19$0.09$0.10
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.96$0.79$0.17$0.12$0.09$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.95$0.80$0.15$0.14$0.15$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.85$0.15$0.37$0.37$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.08$0.94$0.15$0.37$0.35$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.28$0.93$0.35$0.35$0.30$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.28$0.97$0.30$0.27$0.16$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$1.05$0.20$0.20
2012Summary only. Only limited summary data is available for this year.$1.22$1.08$0.14$0.27$0.29$0.02
2011Summary only. Only limited summary data is available for this year.$1.42$1.26$0.16$0.46$0.36$0.10