Civic Intelligence

Downtown Greensboro Inc

990 • Fiscal year 2019 • EIN 56-2011549

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 15, 2019

Organization Profiledowntowngreensboro.org
536 South Elm StreetGreensboro, NC 27406

(336) 379-0060

Siviq Scores

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

Liabilities / Assets

38th percentile

0.10x

Higher debt load relative to assets than 38% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

31st percentile

0.06x

Higher debt load relative to revenue than 31% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

71st percentile

10%

Higher net margin than 71% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

49th percentile

$138,594

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 9.5% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

76th percentile

16%

Faster asset growth than 76% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

68th percentile

8.8%

Faster revenue growth than 68% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$983,257

Up $134,860 (+16%) from 2018

Net Assets

Up

$888,963

Up $149,401 (+20%) from 2018

Liabilities

Down

$94,294

Down $14,541 (-13%) from 2018

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin71st percentile

Revenue

Up

$1,458,381

Up $117,381 (+8.8%) from 2018

Expenses

Up

$1,308,980

Up $298,588 (+30%) from 2018

Net Income

Down

$149,401

Down $181,207 (-55%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $393,004Liabilities 2011: $50,011Net Assets 2011: $342,9932011Assets 2012: $358,526Liabilities 2012: $41,839Net Assets 2012: $316,6872012Assets 2013: $289,051Liabilities 2013: $65,988Net Assets 2013: $223,0632013Assets 2014: $665,106Liabilities 2014: $119,527Net Assets 2014: $545,5792014Assets 2015: $624,229Liabilities 2015: $90,147Net Assets 2015: $534,0822015Assets 2016: $651,118Liabilities 2016: $65,132Net Assets 2016: $585,9862016Assets 2017: $560,084Liabilities 2017: $151,130Net Assets 2017: $408,9542017Assets 2018: $848,397Liabilities 2018: $108,835Net Assets 2018: $739,5622018Assets 2019: $983,257Liabilities 2019: $94,294Net Assets 2019: $888,9632019Assets 2020: $1,387,039Liabilities 2020: $67,374Net Assets 2020: $1,319,6652020Assets 2021: $1,416,640Liabilities 2021: $37,296Net Assets 2021: $1,379,3442021Assets 2022: $1,475,493Liabilities 2022: $48,797Net Assets 2022: $1,426,6962022Assets 2023: $1,610,961Liabilities 2023: $123,596Net Assets 2023: $1,487,3652023Assets 2024: $1,721,189Liabilities 2024: $101,476Net Assets 2024: $1,619,7132024

Highlighted filing

2019

Assets$983,257
Liabilities$94,294
Net Assets$888,963
Open 2019 Filing

Operations Trend

Revenue Growth68th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $841,993Expenses 2011: $711,657Net Income 2011: $130,3362011Revenue 2012: $729,841Expenses 2012: $756,147Net Income 2012: -$26,3062012Expenses 2013: $788,5292013Revenue 2014: $1,183,429Expenses 2014: $1,137,403Net Income 2014: $46,0262014Revenue 2015: $893,586Expenses 2015: $921,920Net Income 2015: -$28,3342015Revenue 2016: $682,872Expenses 2016: $630,968Net Income 2016: $51,9042016Revenue 2017: $849,949Expenses 2017: $1,026,981Net Income 2017: -$177,0322017Revenue 2018: $1,341,000Expenses 2018: $1,010,392Net Income 2018: $330,6082018Revenue 2019: $1,458,381Expenses 2019: $1,308,980Net Income 2019: $149,4012019Revenue 2020: $1,895,606Expenses 2020: $1,464,904Net Income 2020: $430,7022020Revenue 2021: $1,599,630Expenses 2021: $1,529,951Net Income 2021: $69,6792021Revenue 2022: $1,929,059Expenses 2022: $1,881,707Net Income 2022: $47,3522022Revenue 2023: $2,344,155Expenses 2023: $2,283,486Net Income 2023: $60,6692023Revenue 2024: $2,143,224Expenses 2024: $2,010,876Net Income 2024: $132,3482024

Highlighted filing

2019

Revenue$1,458,381
Expenses$1,308,980
Net Income$149,401
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$1,458,546
Mission and Program Overview

Mission

Promote and stimulate new investment, interest and economic development in the center city area of greensboro, north carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$688,597$816,481▲ $127,884
Prepaid Expenses and Deferred Charges$88,451$69,441▼ $19,010
Accounts Receivable$28,873$58,421▲ $29,548
Land, Buildings, and Equipment, Net$39,626$36,064▼ $3,562
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$848,397$983,257▲ $134,860
Other Assets Total$2,850$2,850→ $0
Liabilities
Accounts Payable and Accrued Expenses$108,835$94,294▼ $14,541
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$108,835$94,294▼ $14,541
Net Assets / Fund Balance
Temporarily Rstr Net Assets$456,103$492,021▲ $35,918
Unrestricted Net Assets$283,459$396,942▲ $113,483
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$739,562$888,963▲ $149,401
Total Liabilities and Net Assets / Fund Balance$848,397$983,257▲ $134,860

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$24,622$38,176$62,798
Other Land Buildings$11,442$7,275$18,717
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Zack MathenyPresident & CEOFT$138,594$138,594
Sherrie SimpsonCFOPT$42,832$42,832

Board Members and Trustees

NameTitle
Paula PierceBoard Chairman
Nick PiornackBoard Immediate Past-chairman
Jeff YetterBoard Treasurer/chair Elect
David ParrishBoard Executive Committee
James SmithBoard Executive Committee
Mark PrinceBoard Executive Committee
Nancy VaughanBoard Executive Committee
Andy ZimmermanBoard Member
Chris WaldeckBoard Member
Claudel PressaBoard Member
Danny GatlingBoard Member
Jeff PhillipsBoard Member
John LomaxBoard Member
Leigh Spencer WilliamsBoard Member
Marsh PrauseBoard Member
Marty LawingBoard Member
Paul TalleyBoard Member
Rhonda FullerBoard Member
Seth MapesBoard Member
Victoria Carlin-milsteinBoard Member
Tracey MyersBoard Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$326,736
Program Service Revenue
$1,127,810
Investment Income
$1,535
Other Revenue
$2,300
All Other Contributions
$153,284
Change in Net Assets
$149,401

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,458,546
Revenue Not Reported on Financial Statements
$-165
Revenue Not Reported on Form 990
$1,040
Other Revenue Adjustments
$-165
Total Revenue per Audited Statements
$1,459,586
Total Revenue per Form 990
$1,458,381
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$682,639
Salaries, Compensation, and Employee Benefits$451,630
Grants and Similar Amounts Paid$174,711
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings---$260,231
Current Officers, Directors, Trustees, and Key Employees---$222,107
Advertising---$210,176
Grants to Domestic Orgs---$174,711
Other Salaries and Wages---$142,978
Fees for Services Other---$82,518
Occupancy---$44,134
Other Employee Benefits---$33,129
Pension Plan Contributions---$28,363
Payroll Taxes---$25,053
Travel---$20,793
Office Expenses---$20,079
Depreciation Depletion---$17,725
Information Technology---$14,745
Fees for Services Accounting---$7,375
Other Expenses---$2,368
Insurance---$1,825
Fees for Services Legal---$670
Total Functional Expenses$0$0$0$1,308,980

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,310,185
Expenses per Audited Statements$1,308,980
Total Expenses per Form 990$1,308,980
Expenses Not Reported on Form 990$1,205
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Carolina TheatreGreensboro, NC501(c)(3)Theatre Renovations$76,500
Greensboro Downtown Parks IncGreensboro, NC501(c)(3)Naming Sponsorship$21,200
Action GreensboroGreensboro, NC501(c)(3)City Arts Support$13,750
Chez Genese LLCGreensboro, NC-Catalyst Grant$9,666
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $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 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

Part VI, Section B, Line 12C

“If a board member has a conflict of interest they must abstain from voting on an item for which they have a vested interest.”

Part VI, Section B, Line 15A

“Compensation for the ceo is determined by using industry standard compensation obtained from the international downtown association.”

Part VI, Section C, Line 19

“The organization makes its tax returns available to the public upon request.”

Part VI, Section B, Line 11B

“Zack matheny, the current president & ceo of the organization and sherrie simpson, the current chief financial officer of the organization review form 990 for completeness and accuracy before filing and suggest any changes that might need to be made.”

Filing and Contact Details

Filer

Filer Name
Downtown Greensboro Inc
EIN
56-2011549
In Care Of
% ZACK MATHENY
Phone
3363790060
Address
536 SOUTH ELM STREET, GREENSBORO, NC 27406

Signing Officer

Name
Zack Matheny
Title
President
Phone
3363790060
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Zack Matheny
Formed
1996
Legal Domicile
Nc
Voting Board Members
21
Independent Board Members
21
Employees
5
Volunteers
0

Preparer

Firm
Leeper Kean & Rumley Llp
Address
3623 N ELM STREET SUITE 100, GREENSBORO, NC 27455
Preparer
Martin W Durrence
Phone
3362743700
Supplemental Narrative

Financial Statement Notes

FORM 990, SCHEDULE D, PART XI, LINE 4B & PART XII, LINE 2D

“LOSS ON DISPOSAL OF FIXED ASSETS REPORTED ON PART VIII, LINE 7d, INCLUDED IN FUNCTIONAL EXPENSES FOR FINANCIAL STATEMENT REPORTING PURPOSES.”

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IRS990/Form990PartVIISectionAGrp/PersonNm5NICK PIORNACK
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IRS990/Form990PartVIISectionAGrp/PersonNm19LEIGH SPENCER WILLIAMS
IRS990/Form990PartVIISectionAGrp/PersonNm20PAUL TALLEY
IRS990/Form990PartVIISectionAGrp/PersonNm21CHRIS WALDECK
IRS990/Form990PartVIISectionAGrp/PersonNm22ANDY ZIMMERMAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD TREASURER/CHAIR ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD IMMEDIATE PAST-CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD EXECUTIVE COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD EXECUTIVE COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD EXECUTIVE COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD EXECUTIVE COMMITTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
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IRS990/InsuranceGrp/TotalAmt01825
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IRS990/LegalDomicileStateCd0NC
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IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0PROMOTE AND STIMULATE NEW INVESTMENT, INTEREST AND ECONOMIC DEVELOPMENT IN THE CENTER CITY AREA OF GREENSBORO, NORTH CAROLINA.
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt069441
IRS990/PrincipalOfficerNm0ZACK MATHENY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0561700
IRS990/ProgramServiceRevenueGrp/BusinessCd1711300
IRS990/ProgramServiceRevenueGrp/BusinessCd2711300
IRS990/ProgramServiceRevenueGrp/Desc0CITY OF GREENSBORO - BID FUNDS
IRS990/ProgramServiceRevenueGrp/Desc1CITY OF GREENSBORO - SALES TAX
IRS990/ProgramServiceRevenueGrp/Desc2DGF EVENT FEES & SERVICES
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1139567
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2212141
IRS990/ProgSrvcAccomActy2Grp/Desc0ECONOMIC SERVICES PROJECT To provide for the revitalization and economic development of Downtown Greensboro. Services include marketing of the downtown area, economic development programs, program management and implementation as well as providing long term vision development and planning recommendations for the downtown area.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$983,257
Liabilities
$94,294
Net assets
$888,963
Revenue
$1,458,381
Expenses
$1,308,980
Net income
$149,401
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.72$0.10$1.62$2.14$2.01$0.13
2023Detailed filing. Detailed filing data is available for this year.$1.61$0.12$1.49$2.34$2.28$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.48$0.05$1.43$1.93$1.88$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.42$0.04$1.38$1.60$1.53$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.39$0.07$1.32$1.90$1.46$0.43
2019Detailed filing. Detailed filing data is available for this year.$0.98$0.09$0.89$1.46$1.31$0.15
2018Detailed filing. Detailed filing data is available for this year.$0.85$0.11$0.74$1.34$1.01$0.33
2017Detailed filing. Detailed filing data is available for this year.$0.56$0.15$0.41$0.85$1.03$0.18
2016Detailed filing. Detailed filing data is available for this year.$0.65$0.07$0.59$0.68$0.63$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.62$0.09$0.53$0.89$0.92$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.67$0.12$0.55$1.18$1.14$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$0.07$0.22$0.79
2012Summary only. Only limited summary data is available for this year.$0.36$0.04$0.32$0.73$0.76$0.03
2011Summary only. Only limited summary data is available for this year.$0.39$0.05$0.34$0.84$0.71$0.13