Civic Intelligence

Downtown Morehead City Revitalization

990 • Fiscal year 2020 • EIN 56-2041447

Jul 01, 2019 to Jun 30, 2020 • Filed on Jan 31, 2021

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

61st percentile

0.03x

Higher debt load relative to assets than 61% of similar nonprofits.

2020 filings • NTEE S20 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

60th percentile

0.03x

Higher debt load relative to revenue than 60% of similar nonprofits.

2020 filings • NTEE S20 • <$500k nonprofits • Source year 2020

Net Margin

46th percentile

4.6%

Higher net margin than 46% of similar nonprofits.

2020 filings • NTEE S20 • <$500k nonprofits • Source year 2020

Top Officer Pay

80th percentile

$0

Higher top officer pay than 80% of similar nonprofits.

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

2020 filings • NTEE S20 • <$500k nonprofits • Source year 2020

Asset Growth

17th percentile

-24%

Faster asset growth than 17% of similar nonprofits.

2020 filings • NTEE S20 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

68th percentile

6.7%

Faster revenue growth than 68% of similar nonprofits.

2020 filings • NTEE S20 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$169,306

Down $52,160 (-24%) from 2019

Net Assets

Up

$163,758

Up $7,761 (+5.0%) from 2019

Liabilities

Down

$5,548

Down $59,921 (-92%) from 2019

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin46th percentile

Revenue

Up

$169,274

Up $10,676 (+6.7%) from 2019

Expenses

Up

$161,513

Up $25,652 (+19%) from 2019

Net Income

Down

$7,761

Down $14,976 (-66%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth17th 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

2020

Assets$169,306
Liabilities$5,548
Net Assets$163,758
Open 2020 Filing

Operations Trend

Revenue Growth68th 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

2020

Revenue$169,274
Expenses$161,513
Net Income$7,761
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 31, 2021
Return Version
2019v5.2
Gross Receipts
$235,062
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$221,466$169,306▼ $52,160
Rtn Earn Endowment Incm Other Fnds$155,997$163,758▲ $7,761
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$221,466$169,306▼ $52,160
Liabilities
Other Liabilities$65,114$5,501▼ $59,613
Accounts Payable and Accrued Expenses$355$47▼ $308
Total Liabilities$65,469$5,548▼ $59,921
Net Assets / Fund Balance
Total Net Assets Fund Balance$155,997$163,758▲ $7,761
Total Liabilities and Net Assets / Fund Balance$221,466$169,306▼ $52,160

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$15,404$15,404
Compensation and Service Providers
Top Officer Pay80th percentile

Board Members and Trustees

NameTitle
Tony HollowayBoard Chair
Steve ChalkChair
Lee HinsonChair-Design
Erin MeeksPast Chair
Bruce CaldwellBoard Member
Chrissy SuralikBoard Member
Dean VickBoard Member
Doug BradyBoard Member
Lori TullochBoard Member
Mark KellyBoard Member
Nancy ChaanineBoard Member
Bill RogersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$134,500
Program Service Revenue
$21,029
Investment Income
$0
Other Revenue
$13,745
Change in Net Assets
$7,761
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$109,076
Other Expenses$52,437
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$101,325--$101,325
Advertising$24,561--$24,561
Payroll Taxes$7,751--$7,751
Insurance$4,668--$4,668
All Other Expenses$3,324--$3,324
Other Expenses$2,600--$2,600
Office Expenses$2,295--$2,295
Fees for Services Accounting$822$821-$1,643
Conferences and Meetings$1,619--$1,619
Travel$240--$240
Total Functional Expenses$160,692$821$0$161,513
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$78,493
Fundraising Direct Expenses$65,788
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Alive @ 5$27,099$27,099$18,776$8,323
Holiday Events$24,843$24,843$7,628$17,215
Total Events$78,493$78,493$65,788$12,705
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$3,149
Payroll liabilities$2,352
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
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
2021-01-31
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
PBMares LLP
Address
3621 John Platt Drive, Morehead City, NC 28557
Preparer
Jeanne K Webb CPA
Phone
2527260552
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IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt021029
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0155997
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0163758
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0137069
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt095475
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt088475
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt080454
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt059558
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0461031
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt011
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt023
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt034
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0525313
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt020540
IRS990ScheduleA/OtherIncome170Grp/TotalAmt020540
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.95730
IRS990ScheduleA/PublicSupportPY170Pct00.99990
IRS990ScheduleA/PublicSupportTotal170Amt0461031
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0137069
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt095475
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt088475
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt080454
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt059558
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0461031
IRS990ScheduleA/TotalSupportAmt0481605
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/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt015404
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt015404
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02352
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13149
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred revenue
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt05501
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt065788
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Holiday Events
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Alive @ 5
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt024843
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt027099
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt026551
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt078493
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt024843
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt027099
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt026551
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt078493
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt012705
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt039384
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt065788
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt07628
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt018776
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt04
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0221466
IRS990/TotalAssetsEOYAmt0169306
IRS990/TotalAssetsGrp/BOYAmt0221466
IRS990/TotalAssetsGrp/EOYAmt0169306
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0134500
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0821
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0160692
IRS990/TotalFunctionalExpensesGrp/TotalAmt0161513
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt065469
IRS990/TotalLiabilitiesEOYAmt05548
IRS990/TotalLiabilitiesGrp/BOYAmt065469
IRS990/TotalLiabilitiesGrp/EOYAmt05548
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0155997
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0163758
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0160692
IRS990/TotalProgramServiceRevenueAmt021029
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt013745
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt021029
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0169274
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0221466
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0169306
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0240
IRS990/TravelGrp/TotalAmt0240
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/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Lee Hinson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum02528080440
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-01-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Downtown Morehead City Inc
ReturnHeader/Filer/BusinessNameControlTxt0DOWN

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$169,306
Liabilities
$5,548
Net assets
$163,758
Revenue
$169,274
Expenses
$161,513
Net income
$7,761
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