Civic Intelligence

Downtown Morehead City Revitalization

990 • Fiscal year 2018 • EIN 56-2041447

Jul 01, 2017 to Jun 30, 2018 • Filed on Feb 21, 2019

Organization Profiledowntownmoreheadcity.com
1001 Arendell StreetMorehead City, NC 28557

(252) 808-0440

Siviq Scores

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

Liabilities / Assets

71st percentile

0.06x

Higher debt load relative to assets than 71% of similar nonprofits.

2018 filings • NTEE S20 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

72nd percentile

0.06x

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

2018 filings • NTEE S20 • <$500k nonprofits • Source year 2018

Net Margin

78th percentile

28%

Higher net margin than 78% of similar nonprofits.

2018 filings • NTEE S20 • <$500k nonprofits • Source year 2018

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2018 filings • NTEE S20 • <$500k nonprofits • Source year 2018

Asset Growth

79th percentile

44%

Faster asset growth than 79% of similar nonprofits.

2018 filings • NTEE S20 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

78th percentile

41%

Faster revenue growth than 78% of similar nonprofits.

2018 filings • NTEE S20 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets71st percentile

Assets

Up

$141,852

Up $43,290 (+44%) from 2017

Net Assets

Up

$133,260

Up $43,283 (+48%) from 2017

Liabilities

Up

$8,592

Up $7 (+0.1%) from 2017

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin78th percentile

Revenue

Up

$155,678

Up $45,265 (+41%) from 2017

Expenses

Up

$112,395

Up $19,975 (+22%) from 2017

Net Income

Up

$43,283

Up $25,290 (+141%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

$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

2018

Assets$141,852
Liabilities$8,592
Net Assets$133,260
Open 2018 Filing

Operations Trend

Revenue Growth78th percentile

Revenue, expenses, and net income across loaded years, with this 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

2018

Revenue$155,678
Expenses$112,395
Net Income$43,283
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 21, 2019
Return Version
2017v2.3
Gross Receipts
$243,919
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 Inc. mission is to promote, foster and help restore downtown Morehead City, NC as a destination by fostering a comprehensive and sustaniable revitalization process designed to improve all aspects of the downtown.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$98,562$141,852▲ $43,290
Rtn Earn Endowment Incm Other Fnds$89,977$133,260▲ $43,283
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$98,562$141,852▲ $43,290
Liabilities
Other Liabilities$8,585$8,275▼ $310
Accounts Payable and Accrued Expenses-$317-
Total Liabilities$8,585$8,592▲ $7
Net Assets / Fund Balance
Total Net Assets Fund Balance$89,977$133,260▲ $43,283
Total Liabilities and Net Assets / Fund Balance$98,562$141,852▲ $43,290

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$15,404$15,404
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Lee HinsonBoard Chair
Erin MeeksVice Chair
Bruce CaldwellBoard Member
Dean VickBoard Member
Doug BradyBoard Member
Fran EmoryBoard Member
Mark KellyBoard Member
Steve ChalkBoard Member
Tony HollowayBoard Member
Bill RogersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$88,475
Program Service Revenue
$18,080
Investment Income
$0
Other Revenue
$49,123
All Other Contributions
$3,500
Change in Net Assets
$43,283
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$80,704
Other Expenses$24,146
Grants and Similar Amounts Paid$7,545
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$74,707--$74,707
Payroll Taxes$5,997--$5,997
Grants to Domestic Orgs$4,319--$4,319
Occupancy$4,297--$4,297
Grants to Domestic Individuals$3,226--$3,226
Fees for Services Other-$2,600-$2,600
Conferences and Meetings$2,583--$2,583
Fees for Services Accounting-$1,496-$1,496
Travel$1,452--$1,452
Office Expenses$1,422--$1,422
Advertising$1,404--$1,404
All Other Expenses$1,120--$1,120
Other Expenses$581--$581
Total Functional Expenses$108,299$4,096$0$112,395
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$137,364
Fundraising Direct Expenses$88,241
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Alive @ 5$48,590$48,590$23,323$25,267
Boat Show$46,525$46,525$25,185$21,340
Total Events$137,364$137,364$88,241$49,123
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred revenue$5,051
Payroll liabilities$3,224
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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, Part VI, Section B, line 11B

“The organization's governing body reviews the tax return at one of it's monthly board meeting and if there are any questions they contact the accountant's office who prepared the return for an explanation.”

Form 990, Part VI, Section C, line 19

“The organization makes it 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
Phone
2528080440
Address
1001 Arendell Street, Morehead City, NC 28557

Signing Officer

Name
Lee Hinson
Title
Board Chair
Phone
2528080440
Signed
2019-02-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lee Hinson
Formed
1997
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
2
Volunteers
0

Preparer

Firm
Rsm US Llp
Address
3621 John Platt Drive, Morehead City, NC 28557
Preparer
Jeanne K Webb CPA
Phone
2527260551
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0340637
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt011
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt023
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt024
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt058
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0583336
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99980
IRS990ScheduleA/PublicSupportPY170Pct00.99940
IRS990ScheduleA/PublicSupportTotal170Amt0340637
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt088475
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt080454
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt059558
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt056075
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt056075
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0340637
IRS990ScheduleA/TotalSupportAmt0340695
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt015404
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt015404
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03224
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15051
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred revenue
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt08275
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt088241
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Boat Show
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Alive @ 5
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt046525
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt048590
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt042249
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0137364
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt046525
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt048590
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt042249
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0137364
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt049123
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt039733
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt088241
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt025185
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt023323
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt05
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization's governing body reviews the tax return at one of it's monthly board meeting and if there are any questions they contact the accountant's office who prepared the return for an explanation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization makes it Form 990 available to the governing body at a board meeting before the tax return is filed.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt098562
IRS990/TotalAssetsEOYAmt0141852
IRS990/TotalAssetsGrp/BOYAmt098562
IRS990/TotalAssetsGrp/EOYAmt0141852
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt088475
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04096
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0108299
IRS990/TotalFunctionalExpensesGrp/TotalAmt0112395
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08585
IRS990/TotalLiabilitiesEOYAmt08592
IRS990/TotalLiabilitiesGrp/BOYAmt08585
IRS990/TotalLiabilitiesGrp/EOYAmt08592
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt089977
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0133260
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0108299
IRS990/TotalProgramServiceRevenueAmt018080
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt049123
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt018080
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0155678
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt098562
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0141852
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt01452
IRS990/TravelGrp/TotalAmt01452
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/USAddress/AddressLine1Txt01001 Arendell Street
IRS990/USAddress/CityNm0Morehead City
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028557
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0downtownmoreheadcity.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Lee Hinson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum02528080440
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-02-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Downtown Morehead City Inc
ReturnHeader/Filer/BusinessNameControlTxt0DOWN
ReturnHeader/Filer/EIN0562041447
ReturnHeader/Filer/PhoneNum02528080440
ReturnHeader/Filer/USAddress/AddressLine1Txt01001 Arendell Street
ReturnHeader/Filer/USAddress/CityNm0Morehead City
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028557
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0671A403A96FC06C7A6E704191C8AE20EFB8635BC
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0671A403A96FC06C7A6E704191C8AE20EFB8635BC
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0108.171.131.177
ReturnHeader/FilingSecurityInformation/IPDt02019-02-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm017:52:01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0420714325
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RSM US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03621 John Platt Drive
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Morehead City
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028557
ReturnHeader/PreparerPersonGrp/PhoneNum02527260551
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jeanne K Webb CPA
ReturnHeader/ReturnTs02019-03-21T15:24:17-05:00
ReturnHeader/ReturnTypeCd0990

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$141,852
Liabilities
$8,592
Net assets
$133,260
Revenue
$155,678
Expenses
$112,395
Net income
$43,283
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