Civic Intelligence

Wilson Downtown Properties Inc.

990 • Fiscal year 2016 • EIN 56-2253512

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 16, 2017

Organization Profile
PO Box 10Wilson, NC 27894-0010

(252) 293-5306

Siviq Scores

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

Liabilities / Assets

38th percentile

0.12x

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

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

87th percentile

3.71x

Higher debt load relative to revenue than 87% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Net Margin

3rd percentile

-240%

Higher net margin than 3% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

31st percentile

$0

Higher top officer pay than 31% of similar nonprofits.

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

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Asset Growth

23rd percentile

-4.6%

Faster asset growth than 23% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-88%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets38th percentile

Assets

Down

$1,581,087

Down $75,666 (-4.6%) from 2015

Net Assets

Down

$1,397,969

Down $118,135 (-7.8%) from 2015

Liabilities

Up

$183,118

Up $42,469 (+30%) from 2015

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin3rd percentile

Revenue

Down

$49,319

Down $377,443 (-88%) from 2015

Expenses

Up

$167,454

Up $75,838 (+83%) from 2015

Net Income

Down

-$118,135

Down $453,281 (-135%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $541,038Liabilities 2011: $85,000Net Assets 2011: $456,0382011Assets 2012: $646,097Liabilities 2012: $47,272Net Assets 2012: $598,8252012Assets 2013: $912,128Liabilities 2013: $45,275Net Assets 2013: $866,8532013Assets 2014: $1,325,206Liabilities 2014: $144,248Net Assets 2014: $1,180,9582014Assets 2015: $1,656,753Liabilities 2015: $140,649Net Assets 2015: $1,516,1042015Assets 2016: $1,581,087Liabilities 2016: $183,118Net Assets 2016: $1,397,9692016Assets 2017: $2,133,229Liabilities 2017: $228,020Net Assets 2017: $1,905,2092017Assets 2018: $1,951,957Liabilities 2018: $119,221Net Assets 2018: $1,832,7362018Assets 2019: $235,862Liabilities 2019: $86,843Net Assets 2019: $149,0192019Assets 2020: $209,507Liabilities 2020: $0Net Assets 2020: $209,5072020Assets 2021: $203,929Liabilities 2021: $0Net Assets 2021: $203,9292021Assets 2022: $204,561Liabilities 2022: $0Net Assets 2022: $204,5612022Assets 2023: $283,907Liabilities 2023: $0Net Assets 2023: $283,9072023Assets 2024: $282,773Liabilities 2024: $0Net Assets 2024: $282,7732024Assets 2025: $273,300Liabilities 2025: $0Net Assets 2025: $273,3002025

Highlighted filing

2016

Assets$1,581,087
Liabilities$183,118
Net Assets$1,397,969
Open 2016 Filing

Operations Trend

Revenue Growth1st percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2011: $5922011Expenses 2012: $6,4042012Expenses 2013: $8,8212013Revenue 2014: $380,502Expenses 2014: $66,397Net Income 2014: $314,1052014Revenue 2015: $426,762Expenses 2015: $91,616Net Income 2015: $335,1462015Revenue 2016: $49,319Expenses 2016: $167,454Net Income 2016: -$118,1352016Revenue 2017: $525,352Expenses 2017: $18,112Net Income 2017: $507,2402017Revenue 2018: $141,597Expenses 2018: $214,070Net Income 2018: -$72,4732018Revenue 2019: $50,028Expenses 2019: $1,733,745Net Income 2019: -$1,683,7172019Revenue 2020: $70,017Expenses 2020: $9,529Net Income 2020: $60,4882020Revenue 2021: $5,167Expenses 2021: $10,745Net Income 2021: -$5,5782021Revenue 2022: $12,350Expenses 2022: $11,718Net Income 2022: $6322022Revenue 2023: $105,547Expenses 2023: $26,201Net Income 2023: $79,3462023Revenue 2024: $17,038Expenses 2024: $18,172Net Income 2024: -$1,1342024Revenue 2025: $11,903Expenses 2025: $21,376Net Income 2025: -$9,4732025

Highlighted filing

2016

Revenue$49,319
Expenses$167,454
Net Income-$118,135
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 16, 2017
Return Version
2015v3.0
Gross Receipts
$49,319
Mission and Program Overview

Mission

Involved in creating and placemaking and property redevelopment projects - through economic development, art, culture, innovation and preservation - that drives community and economic investment to fully realize the vision of historic downtown wilson nc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,410,996$1,541,699▲ $130,703
Cash and Non-Interest-Bearing Accounts$228,033$32,164▼ $195,869
Accounts Receivable$17,500$7,000▼ $10,500
Savings and Temporary Cash Investments$224$224→ $0
Total Assets$1,656,753$1,581,087▼ $75,666
Liabilities
Mortgage Notes Payable Secured by Investment Property$126,395$177,417▲ $51,022
Deferred Revenue$14,254$5,701▼ $8,553
Total Liabilities$140,649$183,118▲ $42,469
Net Assets / Fund Balance
Unrestricted Net Assets$1,516,104$1,397,969▼ $118,135
Total Net Assets Fund Balance$1,516,104$1,397,969▼ $118,135
Total Liabilities and Net Assets / Fund Balance$1,656,753$1,581,087▼ $75,666

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,541,699-$1,541,699
Compensation and Service Providers
Top Officer Pay31st percentile

Board Members and Trustees

NameTitle
Tom CorbettPresident
Denise StinagleDirector
Henry Walston IvDirector
Jack Wiggins IiiDirector
Jay HoodDirector
Ken HillDirector
Steve WilliamsDirector
Wes BerryDirector
Willie WilliamsDirector
Eliot SmithSecretary
Kim HandsTreasurer
Frank KiddVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$38,730
Program Service Revenue
$0
Investment Income
$10,589
Other Revenue
$0
All Other Contributions
$38,730
Change in Net Assets
$-118,135
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$167,454
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance$6,084--$6,084
Interest-$5,188-$5,188
Fees for Services Accounting-$1,653-$1,653
Other Expenses$1,719$1,546-$1,546
All Other Expenses-$426-$426
Total Functional Expenses$158,641$8,813$0$167,454
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
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 9

“Tom corbett 3000 nash st n wilson, nc 27896 henry walston iv po box 1207 wilson, nc 27894 frank kidd 3209 queensferry dr wilson, nc 27893 denise stinagle po box 1728 wilson, nc 27894 eliot smith po box 2848 wilson, nc 27894 ken hill 2315 airport blvd ste b wilson, nc 27896 steve williams 206 tarboro st s wilson, nc 27893 willie williams 4603 st georges dr wilson, nc 27896 jay hood po box 2703 wilson, nc 27894 kim hands po box 10 wilson, nc 27894 jack wiggins iii po box 1369 wilson, nc 27894 wes berry 223 nash street wilson, nc 27893”

Form 990, Page 6, Part VI, Line 11B

“The president and secretary review a hard copy of the return, and approve its filing after that review.”

Form 990, Page 6, Part VI, Line 19

“Any citizen may request a copy of the return, and the executive director will provide them with a copy.”

Filing and Contact Details

Filer

Filer Name
Wilson Downtown Properties Inc
EIN
56-2253512
Phone
2522935306
Address
PO BOX 10, WILSON, NC 27894-0010

Signing Officer

Name
Tom Corbett
Title
President
Phone
2522935306
Signed
2017-01-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Corbett
Formed
1996
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Firm
Anthony & Tabb Pa
Address
2536 WARD BOULEVARD, WILSON, NC 27893-1649
Preparer
John C Anthony Jr CPA
Phone
2522370784
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Involved in creating and placemaking and property redevelopment projects - through economic development, art, culture, innovation and preservation - that drives community and economic investment to fully realize the vision of historic downtown wilson nc.”

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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt023
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt01204178
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt038730
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0395928
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0343481
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0276849
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0149190
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01204178
IRS990ScheduleA/TotalSupportAmt01204201
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/ArtPublicExhibitionAmountsGrp/AssetsIncludedAmt01124866
IRS990ScheduleD/ArtPublicExhibitionAmountsGrp/RevenuesIncludedAmt038642
IRS990ScheduleD/CollectionUsedPreservationInd0X
IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01541699
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01541699
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01541699
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0INVOLVED IN CREATING AND PLACEMAKING AND PROPERTY REDEVELOPMENT PROJECTS - THROUGH ECONOMIC DEVELOPMENT, ART, CULTURE, INNOVATION AND PRESERVATION - THAT DRIVES COMMUNITY AND ECONOMIC INVESTMENT TO FULLY REALIZE THE VISION OF HISTORIC DOWNTOWN WILSON NC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TOM CORBETT 3000 NASH ST N WILSON, NC 27896 HENRY WALSTON IV PO BOX 1207 WILSON, NC 27894 FRANK KIDD 3209 QUEENSFERRY DR WILSON, NC 27893 DENISE STINAGLE PO BOX 1728 WILSON, NC 27894 ELIOT SMITH PO BOX 2848 WILSON, NC 27894 KEN HILL 2315 AIRPORT BLVD STE B WILSON, NC 27896 STEVE WILLIAMS 206 TARBORO ST S WILSON, NC 27893 WILLIE WILLIAMS 4603 ST GEORGES DR WILSON, NC 27896 JAY HOOD PO BOX 2703 WILSON, NC 27894 KIM HANDS PO BOX 10 WILSON, NC 27894 JACK WIGGINS III PO BOX 1369 WILSON, NC 27894 WES BERRY 223 NASH STREET WILSON, NC 27893
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRESIDENT AND SECRETARY REVIEW A HARD COPY OF THE RETURN, AND APPROVE ITS FILING AFTER THAT REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY CITIZEN MAY REQUEST A COPY OF THE RETURN, AND THE EXECUTIVE DIRECTOR WILL PROVIDE THEM WITH A COPY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01656753
IRS990/TotalAssetsEOYAmt01581087
IRS990/TotalAssetsGrp/BOYAmt01656753
IRS990/TotalAssetsGrp/EOYAmt01581087
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt038730
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08813
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0158641
IRS990/TotalFunctionalExpensesGrp/TotalAmt0167454
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0140649
IRS990/TotalLiabilitiesEOYAmt0183118
IRS990/TotalLiabilitiesGrp/BOYAmt0140649
IRS990/TotalLiabilitiesGrp/EOYAmt0183118
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01516104
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01397969
IRS990/TotalProgramServiceExpensesAmt0158641
IRS990/TotalRevenueGrp/ExclusionAmt054
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt010535
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt049319
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01656753
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01581087
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01516104
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01397969
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03000 NASH ST N
IRS990/USAddress/AddressLine2Txt03000 NASH ST N
IRS990/USAddress/CityNm0WILSON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027896
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TOM CORBETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02522935306
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-01-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WILSON DOWNTOWN PROPERTIES INC
ReturnHeader/Filer/BusinessNameControlTxt0WILS
ReturnHeader/Filer/EIN0562253512
ReturnHeader/Filer/PhoneNum02522935306
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 10
ReturnHeader/Filer/USAddress/CityNm0WILSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd0278940010
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561717557
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ANTHONY & TABB PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02536 WARD BOULEVARD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WILSON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0278931649
ReturnHeader/PreparerPersonGrp/PhoneNum02522370784
ReturnHeader/PreparerPersonGrp/PreparationDt02017-01-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN C ANTHONY JR CPA
ReturnHeader/ReturnTs02017-01-19T12:38:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,581,087
Liabilities
$183,118
Net assets
$1,397,969
Revenue
$49,319
Expenses
$167,454
Net income
-$118,135
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.27$0.00$0.27$0.01$0.02$0.01
2024Detailed filing. Detailed filing data is available for this year.$0.28$0.00$0.28$0.02$0.02$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.28$0.00$0.28$0.11$0.03$0.08
2022Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.01$0.01$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.20$0.00$0.20$0.01$0.01$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.21$0.00$0.21$0.07$0.01$0.06
2019Summary only. Only limited summary data is available for this year.$0.24$0.09$0.15$0.05$1.73$1.68
2018Summary only. Only limited summary data is available for this year.$1.95$0.12$1.83$0.14$0.21$0.07
2017Summary only. Only limited summary data is available for this year.$2.13$0.23$1.91$0.53$0.02$0.51
2016Detailed filing. Detailed filing data is available for this year.$1.58$0.18$1.40$0.05$0.17$0.12
2015Detailed filing. Detailed filing data is available for this year.$1.66$0.14$1.52$0.43$0.09$0.34
2014Detailed filing. Detailed filing data is available for this year.$1.33$0.14$1.18$0.38$0.07$0.31
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.05$0.87$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.05$0.60$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.09$0.46$0.00