Civic Intelligence

Downtown Morehead City Inc

EIN 56-2041447 • 501(c)3 • Morehead City, NC

Profile

Downtown Morehead City Incs mission is to promote, foster and help retore downtown Morehead City NC as a destination by fostering a comprehensive and sustainable revitalization process designed to improve all aspects of the downtown.

1001 Arendell StMorehead City, NC 28557

www.downtownmoreheadcity.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

72nd percentile

0.03x

Higher debt load relative to assets than 72% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Liabilities / Revenue

78th percentile

0.05x

Higher debt load relative to revenue than 78% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Net Margin

24th percentile

-18%

Higher net margin than 24% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Top Officer Pay

84th percentile

$0

Higher top officer pay than 84% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

40th percentile

-8.7%

Faster asset growth than 40% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2024 to 2025

Revenue Growth

32nd percentile

-20%

Faster revenue growth than 32% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2024 to 2025

Assets

Down

$216,739

Down $20,650 (-8.7%) from 2024

Liabilities

Up

$7,355

Up $6,442 (+706%) from 2024

Net Assets

Down

$209,384

Down $27,092 (-11%) from 2024

Revenue

Down

$152,058

Down $37,695 (-20%) from 2024

Expenses

Up

$179,150

Up $13,024 (+7.8%) from 2024

Net Income

Down

-$27,092

Down $50,719 (-215%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300K$200K$100K$0Assets 2010: $61,430Liabilities 2010: $22,651Net Assets 2010: $38,7792010Assets 2012: $59,266Liabilities 2012: $4,188Net Assets 2012: $55,0782012Assets 2013: $67,088Liabilities 2013: $8,954Net Assets 2013: $58,1342013Assets 2014: $81,559Liabilities 2014: $13,986Net Assets 2014: $67,5732014Assets 2015: $88,312Liabilities 2015: $13,097Net Assets 2015: $75,2152015Assets 2016: $79,068Liabilities 2016: $7,085Net Assets 2016: $71,9832016Assets 2017: $98,562Liabilities 2017: $8,585Net Assets 2017: $89,9772017Assets 2018: $141,852Liabilities 2018: $8,592Net Assets 2018: $133,2602018Assets 2019: $221,466Liabilities 2019: $65,469Net Assets 2019: $155,9972019Assets 2020: $169,306Liabilities 2020: $5,548Net Assets 2020: $163,7582020Assets 2021: $192,832Liabilities 2021: $27,296Net Assets 2021: $165,5362021Assets 2022: $202,431Liabilities 2022: $8,069Net Assets 2022: $194,3622022Assets 2023: $219,778Liabilities 2023: $6,928Net Assets 2023: $212,8502023Assets 2024: $237,389Liabilities 2024: $913Net Assets 2024: $236,4762024Assets 2025: $216,739Liabilities 2025: $7,355Net Assets 2025: $209,3842025

Highlighted filing

2025

Assets$216,739
Liabilities$7,355
Net Assets$209,384

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200K$100K$0-$100KRevenue 2010: $76,369Expenses 2010: $69,441Net Income 2010: $6,9282010Revenue 2012: $80,785Expenses 2012: $74,194Net Income 2012: $6,5912012Revenue 2013: $87,024Expenses 2013: $83,968Net Income 2013: $3,0562013Revenue 2014: $101,491Expenses 2014: $92,052Net Income 2014: $9,4392014Revenue 2015: $110,316Expenses 2015: $102,674Net Income 2015: $7,6422015Revenue 2016: $97,423Expenses 2016: $100,655Net Income 2016: -$3,2322016Revenue 2017: $110,413Expenses 2017: $92,420Net Income 2017: $17,9932017Revenue 2018: $155,678Expenses 2018: $112,395Net Income 2018: $43,2832018Revenue 2019: $158,598Expenses 2019: $135,861Net Income 2019: $22,7372019Revenue 2020: $169,274Expenses 2020: $161,513Net Income 2020: $7,7612020Revenue 2021: $148,022Expenses 2021: $146,245Net Income 2021: $1,7772021Revenue 2022: $159,523Expenses 2022: $152,293Net Income 2022: $7,2302022Revenue 2023: $179,013Expenses 2023: $160,525Net Income 2023: $18,4882023Revenue 2024: $189,753Expenses 2024: $166,126Net Income 2024: $23,6272024Revenue 2025: $152,058Expenses 2025: $179,150Net Income 2025: -$27,0922025

Highlighted filing

2025

Revenue$152,058
Expenses$179,150
Net Income-$27,092

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.17$0.07$2.09$1.52$1.79$0.27
2024Detailed filing. Detailed filing data is available for this year.$2.37$0.01$2.36$1.90$1.66$0.24
2023Detailed filing. Detailed filing data is available for this year.$2.20$0.07$2.13$1.79$1.61$0.18
2022Detailed filing. Detailed filing data is available for this year.$2.02$0.08$1.94$1.60$1.52$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.93$0.27$1.66$1.48$1.46$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.69$0.06$1.64$1.69$1.62$0.08
2019Detailed filing. Detailed filing data is available for this year.$2.21$0.65$1.56$1.59$1.36$0.23
2018Detailed filing. Detailed filing data is available for this year.$1.42$0.09$1.33$1.56$1.12$0.43
2017Summary only. Only limited summary data is available for this year.$0.99$0.09$0.90$1.10$0.92$0.18
2016Detailed filing. Detailed filing data is available for this year.$0.79$0.07$0.72$0.97$1.01$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.88$0.13$0.75$1.10$1.03$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.82$0.14$0.68$1.01$0.92$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$0.09$0.58$0.87$0.84$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.59$0.04$0.55$0.81$0.74$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.61$0.23$0.39$0.76$0.69$0.07
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Mar 15, 2025
Return Version
2024v5.2
Gross Receipts
$228,529
Mission and Program Overview

Mission

Downtown Morehead City Inc mission is to promote, foster and help restore downtown Morehead City, NCas a destination by fostering a comprehensive and sustainable revitalization proess designed to improve all aspects of the downtown.

Downtown Morehead City Incs mission is to promote, foster and help retore downtown Morehead City NC as a destination by fostering a comprehensive and sustainable revitalization process designed to improve all aspects of the downtown.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$237,389$216,739▼ $20,650
Rtn Earn Endowment Incm Other Fnds$236,476$209,384▼ $27,092
Total Assets$237,389$216,739▼ $20,650
Liabilities
Other Liabilities$913$7,355▲ $6,442
Total Liabilities$913$7,355▲ $6,442
Net Assets / Fund Balance
Total Net Assets Fund Balance$236,476$209,384▼ $27,092
Total Liabilities and Net Assets / Fund Balance$237,389$216,739▼ $20,650

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$15,404$15,404
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jason EureBoard Chair
Kayla BrownPast Board Chair
Alison BrittBoard Member
Arrington BraffordBoard Member
Janice RoweBoard Member
Mark KellyBoard Member
Patti SchweisBoard Member
Tony HollowayBoard Member
Leah HardestyExec Director
Jeff JohnsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$92,552
Program Service Revenue
$0
Investment Income
$3,108
Other Revenue
$56,398
Change in Net Assets
$-27,092
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$132,126
Other Expenses$47,024
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$122,123--$122,123
Advertising$26,440--$26,440
Payroll Taxes$9,416--$9,416
Fees for Services Accounting$1,605$1,605-$3,210
Travel$3,054--$3,054
Insurance$2,498--$2,498
Office Expenses$1,943--$1,943
All Other Expenses$1,803--$1,803
Other Employee Benefits$587--$587
Other Expenses$348--$348
Fees for Services Other$296--$296
Total Functional Expenses$177,545$1,605$0$179,150
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$132,869
Fundraising Direct Expenses$76,471
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Chowder Chee$58,100$58,100-$58,100
Alive$27,001$27,001-$27,001
Total Events$85,101$85,101-$85,101
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$7,355
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 governing body review Part VI line 11

The organizations governing body reviews the tax return at one of its monthly board meetings and if there are any questions they contact the accountants office who prepared the return for an explanation.

Governing documents etc available to public Part VI line 19

The organization makes the form 990 available to the governing body at a board meeting before the tax return is filed.

Filing and Contact Details

Filer

Filer Name
Downtown Morehead City Inc
EIN
56-2041447
In Care Of
% Leah Hardesty
Phone
2528080440
Address
1001 Arendell St, Morehead City, NC 28557
Doing Business As
Downtown Morehead City Inc

Signing Officer

Name
Leah Hardesty
Title
Exec Director
Phone
2528080440
Signed
2025-03-15
Discuss with paid preparer
Yes

Organization Details

Formed
1997
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
3

Preparer

Firm
Chused Patterson & Company CPAs
Address
3332 Bridges Street Suite 8, Morehead City, NC 28557
Preparer
Tina Hamric
Phone
2527275600
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Rounding

Raw XML Appendix381 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/PYRevenuesLessExpensesAmt023627
IRS990/PYSalariesCompEmpBnftPaidAmt0112574
IRS990/PYTotalExpensesAmt0166126
IRS990/PYTotalRevenueAmt0189753
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-27092
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0236476
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0209384
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt092552
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0116369
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0104917
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0131877
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0161547
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0607262
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.70790
IRS990ScheduleA/PublicSupportPY170Pct00.86840
IRS990ScheduleA/PublicSupportTotal170Amt0429903
IRS990ScheduleA/SubstantialContributorsTotAmt0177359
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt092552
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0116369
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0104917
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0131877
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0161547
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0607262
IRS990ScheduleA/TotalSupportAmt0607262
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt015404
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt015404
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07355
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll Liabilities
IRS990ScheduleD/TotalLiabilityAmt07355
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Alive
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Chowder Chee
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt027001
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt058100
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt085101
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt027001
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt058100
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt085101
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt085101
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organizations governing body reviews the tax return at one of its monthly board meetings and if there are any questions they contact the accountants office who prepared the return for an explanation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization makes the form 990 available to the governing body at a board meeting before the tax return is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Rounding
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Explanation of other changes in net assets or fund balances Part XI line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0237389
IRS990/TotalAssetsEOYAmt0216739
IRS990/TotalAssetsGrp/BOYAmt0237389
IRS990/TotalAssetsGrp/EOYAmt0216739
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt092552
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01605
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0177545
IRS990/TotalFunctionalExpensesGrp/TotalAmt0179150
IRS990/TotalGrossUBIAmt056398
IRS990/TotalLiabilitiesBOYAmt0913
IRS990/TotalLiabilitiesEOYAmt07355
IRS990/TotalLiabilitiesGrp/BOYAmt0913
IRS990/TotalLiabilitiesGrp/EOYAmt07355
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0236476
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0209384
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0177545
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03108
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0152058
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt056398
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0237389
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0216739
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt03054
IRS990/TravelGrp/TotalAmt03054
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.downtownmoreheadcity.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LEAH HARDESTY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Exec Director
ReturnHeader/BusinessOfficerGrp/PhoneNum02528080440
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Downtown Morehead City Inc
ReturnHeader/Filer/BusinessNameControlTxt0DOWN
ReturnHeader/Filer/EIN0562041447
ReturnHeader/Filer/InCareOfNm0% Leah Hardesty
ReturnHeader/Filer/PhoneNum02528080440
ReturnHeader/Filer/USAddress/AddressLine1Txt01001 Arendell St
ReturnHeader/Filer/USAddress/CityNm0Morehead City
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028557
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0562028661
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Chused Patterson & Company CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03332 Bridges Street Suite 8
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Morehead City
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028557
ReturnHeader/PreparerPersonGrp/PhoneNum02527275600
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TINA HAMRIC
ReturnHeader/ReturnTs02025-11-17T15:53:02-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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