Civic Intelligence

Downtown Smithfield Development Corporation

990 • Fiscal year 2022 • EIN 56-1437860

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 11, 2022

Organization ProfileDOWNTOWNSMITHFIELD.COM
200 South Front StreetSmithfield, NC 27577

(919) 934-0887

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

53rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Net Margin

65th percentile

17%

Higher net margin than 65% of similar nonprofits.

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

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

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

Asset Growth

71st percentile

17%

Faster asset growth than 71% of similar nonprofits.

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

Revenue Growth

54th percentile

14%

Faster revenue growth than 54% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$193,665

Up $28,257 (+17%) from 2021

Net Assets

Up

$193,665

Up $28,257 (+17%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin65th percentile

Revenue

Up

$166,617

Up $19,962 (+14%) from 2021

Expenses

Down

$138,360

Down $18,244 (-12%) from 2021

Net Income

Up

$28,257

Up $38,206 (+384%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

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

$400K$300K$200K$100K$0Assets 2011: $35,554Liabilities 2011: $0Net Assets 2011: $35,5542011Assets 2012: $42,254Liabilities 2012: $0Net Assets 2012: $42,2542012Assets 2014: $108,803Liabilities 2014: $0Net Assets 2014: $108,8032014Assets 2015: $160,722Liabilities 2015: $0Net Assets 2015: $160,7222015Assets 2016: $184,850Liabilities 2016: $0Net Assets 2016: $184,8502016Assets 2017: $154,543Liabilities 2017: $0Net Assets 2017: $154,5432017Assets 2018: $190,947Liabilities 2018: $0Net Assets 2018: $190,9472018Assets 2019: $164,668Liabilities 2019: $0Net Assets 2019: $164,6682019Assets 2020: $175,357Liabilities 2020: $0Net Assets 2020: $175,3572020Assets 2021: $165,408Liabilities 2021: $0Net Assets 2021: $165,4082021Assets 2022: $193,665Liabilities 2022: $0Net Assets 2022: $193,6652022Assets 2023: $183,352Liabilities 2023: $0Net Assets 2023: $183,3522023Assets 2024: $222,834Liabilities 2024: $1,582Net Assets 2024: $221,2522024Assets 2025: $375,872Liabilities 2025: $141,960Net Assets 2025: $233,9122025

Highlighted filing

2022

Assets$193,665
Liabilities$0
Net Assets$193,665
Open 2022 Filing

Operations Trend

Revenue Growth54th percentile

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

$400K$300K$200K$100K$0-$100KExpenses 2011: $181,9202011Expenses 2012: $173,4662012Revenue 2014: $175,071Expenses 2014: $107,265Net Income 2014: $67,8062014Revenue 2015: $166,989Expenses 2015: $115,070Net Income 2015: $51,9192015Revenue 2016: $148,603Expenses 2016: $124,475Net Income 2016: $24,1282016Revenue 2017: $121,788Expenses 2017: $152,095Net Income 2017: -$30,3072017Revenue 2018: $165,873Expenses 2018: $129,469Net Income 2018: $36,4042018Revenue 2019: $139,972Expenses 2019: $166,251Net Income 2019: -$26,2792019Revenue 2020: $158,089Expenses 2020: $147,400Net Income 2020: $10,6892020Revenue 2021: $146,655Expenses 2021: $156,604Net Income 2021: -$9,9492021Revenue 2022: $166,617Expenses 2022: $138,360Net Income 2022: $28,2572022Revenue 2023: $169,018Expenses 2023: $179,331Net Income 2023: -$10,3132023Revenue 2024: $213,329Expenses 2024: $175,429Net Income 2024: $37,9002024Revenue 2025: $304,758Expenses 2025: $292,098Net Income 2025: $12,6602025

Highlighted filing

2022

Revenue$166,617
Expenses$138,360
Net Income$28,257
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 11, 2022
Return Version
2021v4.0
Gross Receipts
$166,617
Mission and Program Overview

Mission

Promote downtown economic development

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$70,663$100,739▲ $30,076
Cash and Non-Interest-Bearing Accounts$94,745$92,926▼ $1,819
Total Assets$165,408$193,665▲ $28,257
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$165,408$193,665▲ $28,257
Total Net Assets Fund Balance$165,408$193,665▲ $28,257
Total Liabilities and Net Assets / Fund Balance$165,408$193,665▲ $28,257
Compensation and Service Providers
Top Officer Pay81st percentile

Board Members and Trustees

NameTitle
Tim DeppPresident
Katie SmithDirector
Kay KennedyDirector
Mary ReeceDirector
Patrick HarrisDirector
Stuart LeeDirector
Suzanne TaylorDirector
Tim KeriganDirector
Troy BrindleDirector
Kathleen CoatesSecretary
Jeremy PearceTreasurer
Julia NarronVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$152,322
Program Service Revenue
$14,218
Investment Income
$77
Other Revenue
$0
Change in Net Assets
$28,257
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$80,308
Salaries, Compensation, and Employee Benefits$58,052
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$24,702$24,702-$49,404
Other Salaries and Wages$23,422$23,422-$46,844
Office Expenses$5,285$5,285-$10,570
Other Employee Benefits$3,140$3,140-$6,280
Conferences and Meetings$2,077$2,078-$4,155
Payroll Taxes$1,792$1,792-$3,584
Insurance$1,442$1,442-$2,884
Fees for Services Accounting$745$745-$1,490
Other Expenses$675$675-$1,350
Pension Plan Contributions$672$672-$1,344
All Other Expenses$50$50-$100
Total Functional Expenses$69,179$69,181$0$138,360
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
Backup withholding compliance
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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Downtown Smithfield Development
EIN
56-1437860
Phone
9199340887
Address
200 SOUTH FRONT STREET, SMITHFIELD, NC 27577

Signing Officer

Name
Tim Depp
Title
President
Phone
9199340887
Signed
2022-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Depp
Voting Board Members
12
Independent Board Members
12
Employees
1

Preparer

Firm
Wilson & Associates Cpas Llp
Address
101 JOHNSTON ST, SMITHFIELD, NC 27577
Preparer
Matthew R Wilson
Phone
9199346154
Supplemental Narrative

Additional Explanations

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

“SEE ATTACHED DESCRIPTION”

Raw XML Appendix365 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/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE 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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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0165408
IRS990/TotalAssetsEOYAmt0193665
IRS990/TotalAssetsGrp/BOYAmt0165408
IRS990/TotalAssetsGrp/EOYAmt0193665
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IRS990/TotalContributionsAmt0152322
IRS990/TotalEmployeeCnt01
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt069181
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt069179
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IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/TotalOtherProgSrvcExpenseAmt069179
IRS990/TotalProgramServiceExpensesAmt069179
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt014295
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/USAddress/CityNm0SMITHFIELD
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027577
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TIM DEPP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09199340887
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DOWNTOWN SMITHFIELD DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0DOWN
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ReturnHeader/Filer/USAddress/AddressLine1Txt0200 SOUTH FRONT STREET
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271507266
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WILSON & ASSOCIATES CPAS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0101 JOHNSTON ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SMITHFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027577
ReturnHeader/PreparerPersonGrp/PhoneNum09199346154
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW R WILSON
ReturnHeader/ReturnTs02022-11-14T16:25:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TIM
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DEPP
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
$193,665
Liabilities
$0
Net assets
$193,665
Revenue
$166,617
Expenses
$138,360
Net income
$28,257
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.76$1.42$2.34$3.05$2.92$0.13
2024Detailed filing. Detailed filing data is available for this year.$2.23$0.02$2.21$2.13$1.75$0.38
2023Detailed filing. Detailed filing data is available for this year.$1.83$0.00$1.83$1.69$1.79$0.10
2022Detailed filing. Detailed filing data is available for this year.$1.94$0.00$1.94$1.67$1.38$0.28
2021Detailed filing. Detailed filing data is available for this year.$1.65$0.00$1.65$1.47$1.57$0.10
2020Detailed filing. Detailed filing data is available for this year.$1.75$0.00$1.75$1.58$1.47$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.65$0.00$1.65$1.40$1.66$0.26
2018Detailed filing. Detailed filing data is available for this year.$1.91$0.00$1.91$1.66$1.29$0.36
2017Summary only. Only limited summary data is available for this year.$1.55$0.00$1.55$1.22$1.52$0.30
2016Detailed filing. Detailed filing data is available for this year.$1.85$0.00$1.85$1.49$1.24$0.24
2015Detailed filing. Detailed filing data is available for this year.$1.61$0.00$1.61$1.67$1.15$0.52
2014Detailed filing. Detailed filing data is available for this year.$1.09$0.00$1.09$1.75$1.07$0.68
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.42$0.00$0.42$1.73
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$0.00$0.36$1.82