Civic Intelligence

Cool Spring Downtown District Inc

EIN 82-0832831 • 501(c)3 • Fayetteville, NC

Profile

The mission of the cool spring downtown district is to create and sustain an arts and entertainment district emanating from the central core of the city. The district is to be a vibrant center of artistic, cultural, civic and commercial activity; a place where people live, work, frequently visit and loyally patronize; a robust generator of economic prosperity for all cumberland county residents.

222 Hay StreetFayetteville, NC 28301

www.visitdowntownfayetteville.com

Siviq Scores

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

Liabilities / Assets

50th percentile

0.06x

Higher debt load relative to assets than 50% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

31st percentile

0.01x

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

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

30th percentile

-4.4%

Higher net margin than 30% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

14th percentile

-12%

Faster asset growth than 14% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

71st percentile

22%

Faster revenue growth than 71% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets50th percentile

Assets

Down

$253,034

Down $33,366 (-12%) from 2024

Liabilities

Up

$16,426

Up $14,531 (+767%) from 2024

Net Assets

Down

$236,608

Down $47,897 (-17%) from 2024

Operations
Liabilities / Revenue31st percentileNet Margin30th percentile

Revenue

Up

$1,096,228

Up $199,606 (+22%) from 2024

Expenses

Up

$1,144,124

Up $202,739 (+22%) from 2024

Net Income

Down

-$47,896

Down $3,133 (-7.0%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth14th percentile

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

$600K$400K$200K$0Assets 2017: $1Liabilities 2017: $02017Assets 2018: $194,103Liabilities 2018: $15,258Net Assets 2018: $178,8452018Assets 2019: $206,645Liabilities 2019: $18,310Net Assets 2019: $188,3352019Assets 2020: $293,395Liabilities 2020: $29,103Net Assets 2020: $264,2922020Assets 2021: $440,521Liabilities 2021: $5,033Net Assets 2021: $435,4882021Assets 2022: $404,618Liabilities 2022: $42,027Net Assets 2022: $362,5912022Assets 2023: $340,186Liabilities 2023: $10,918Net Assets 2023: $329,2682023Assets 2024: $286,400Liabilities 2024: $1,895Net Assets 2024: $284,5052024Assets 2025: $253,034Liabilities 2025: $16,426Net Assets 2025: $236,6082025

Highlighted filing

2025

Assets$253,034
Liabilities$16,426
Net Assets$236,608
Open 2025 Filing

Operations Trend

Revenue Growth71st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2018: $401,945Expenses 2018: $223,100Net Income 2018: $178,8452018Revenue 2019: $301,024Expenses 2019: $291,534Net Income 2019: $9,4902019Revenue 2020: $438,426Expenses 2020: $362,470Net Income 2020: $75,9562020Revenue 2021: $640,058Expenses 2021: $468,860Net Income 2021: $171,1982021Revenue 2022: $773,790Expenses 2022: $846,686Net Income 2022: -$72,8962022Revenue 2023: $917,731Expenses 2023: $951,054Net Income 2023: -$33,3232023Revenue 2024: $896,622Expenses 2024: $941,385Net Income 2024: -$44,7632024Revenue 2025: $1,096,228Expenses 2025: $1,144,124Net Income 2025: -$47,8962025

Highlighted filing

2025

Revenue$1,096,228
Expenses$1,144,124
Net Income-$47,896
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$253,034
Liabilities
$16,426
Net assets
$236,608
Revenue
$1,096,228
Expenses
$1,144,124
Net income
-$47,896
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.25$0.02$0.24$1.10$1.14$0.05
2024Detailed filing. Detailed filing data is available for this year.$0.29$0.00$0.28$0.90$0.94$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.34$0.01$0.33$0.92$0.95$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.40$0.04$0.36$0.77$0.85$0.07
2021Detailed filing. Detailed filing data is available for this year.$0.44$0.01$0.44$0.64$0.47$0.17
2020Detailed filing. Detailed filing data is available for this year.$0.29$0.03$0.26$0.44$0.36$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.21$0.02$0.19$0.30$0.29$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.19$0.02$0.18$0.40$0.22$0.18
2017Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 8, 2025
Return Version
2024v5.2
Gross Receipts
$1,132,923
Mission and Program Overview

Mission

The mission of the cool spring downtown district is to create and sustain an arts and entertainment district emanating from the central core of the city. The district is to be a vibrant center of artistic, cultural, civic and commercial activity; a place where people live, work, frequently visit and loyally patronize; a robust generator of economic prosperity for all cumberland county residents.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$116,152$134,976▲ $18,824
Accounts Receivable$106,858$81,762▼ $25,096
Land, Buildings, and Equipment, Net$63,390$36,296▼ $27,094
Total Assets$286,400$253,034▼ $33,366
Liabilities
Accounts Payable and Accrued Expenses$1,895$16,426▲ $14,531
Total Liabilities$1,895$16,426▲ $14,531
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$284,505$236,608▼ $47,897
Total Net Assets Fund Balance$284,505$236,608▼ $47,897
Total Liabilities and Net Assets / Fund Balance$286,400$253,034▼ $33,366

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$36,296$75,550$111,846
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Michael PenninkChair
Lejuane BowensVice Chair
Josh ChoiEx Officio
Caroline GregoryMember
David WoodhouseMember
Ebony Warfield-grahamMember
Hampton RutledgeMember
Isaac HalversonMember
Kennon JacksonMember
Kristen Wellons SeelandMember
Nathan CuffeeMember
Tyler PattonMember
Katrina RubieraSecretary
Gerard FallsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$955,911
Program Service Revenue
$95,556
Investment Income
$25,201
Other Revenue
$19,560
All Other Contributions
$260,500
Change in Net Assets
$-47,896

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,096,228
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$26,255
Total Revenue per Audited Statements
$1,122,483
Total Revenue per Form 990
$1,096,228
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$838,530
Salaries, Compensation, and Employee Benefits$305,594
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$222,980$55,745-$278,725
Advertising$121,411--$121,411
Fees for Services Other$39,419--$39,419
Fees for Services Accounting$31,767--$31,767
Other Employee Benefits$21,495$5,374-$26,869
All Other Expenses$14,359$4,052-$18,411
Insurance$16,697$980-$17,677
Depreciation Depletion$16,654--$16,654
Occupancy$5,772$925-$6,697
Information Technology$6,027--$6,027
Office Expenses$4,264$650-$4,914
Travel$1,406$2,169-$3,575
Other Expenses$3,046$160-$3,206
Total Functional Expenses$1,073,863$70,261$0$1,144,124

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,170,379
Expenses per Audited Statements$1,144,124
Total Expenses per Form 990$1,144,124
Expenses Not Reported on Form 990$26,255
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$45,815
Fundraising Direct Expenses$26,255
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising Activity$45,815$45,815$26,255$19,560
Total Events$45,815$45,815$26,255$19,560
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
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
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

“Organization's process to review form 990 a copy of the form 990 is provided to the treasurer and reviewed by the treasurer prior to its filing.”

Form 990, Part VI, Section B, Line 12C

“Enforcement of conflicts policy the conflict of interest policy is reviewed annually to ensure there are no potential conflicts.”

Form 990, Part VI, Section B, Line 15

“Compensation process for top official see form 990, part vi, line 15b compensation process for officers the organization follows the process described in treasury regulation 4958 (6) (c) for establishing the rebuttable presumption of reasonableness in the review, approval, and documentation of officer, key management, and director compensation. The executive committe reviews and approves the entire compensation package of each person based on comparability factors including but not limited to the size of the organization, and the employee's length of service. This process is conducted on an annual basis for all positions.”

Form 990, Part VI, Section C, Line 19

“Governing documents disclosure explanation the organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Cool Spring Downtown District Inc
EIN
82-0832831
Phone
9107233753
Address
222 HAY STREET, FAYETTEVILLE, NC 28301

Signing Officer

Name
Gerard Falls
Title
Treasurer
Phone
9107233753
Signed
2025-12-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Pennink
Formed
2017
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
5
Volunteers
100

Preparer

Firm
Haigh Byrd & Lambert Llp
Address
PO BOX 53349, FAYETTEVILLE, NC 28305-3349
Preparer
Stephen G Terry
Phone
9104831437
Supplemental Narrative

Additional Explanations

Form 990, Part 1, Line 1

“The mission of the cool spring downtown district is to create and sustain an arts and entertainment district emanating from the core of the city. The district is to be a vibrant center of artistic, cultural, civic and commercial activity; a place where people live, work, frequently visit and loyally patronize; a robust generator of economic prosperity for all of cumberland county.”

FORM 990, PART XI, LINE 9:

“ROUNDING -1.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising costs 26,255.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising costs 26,255.”

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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/LandBldgEquipCostOrOtherBssAmt0111846
IRS990/LegalDomicileStateCd0NC
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt010440
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0SEE SCHEDULE O
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0284505
IRS990/NetAssetsOrFundBalancesEOYAmt0236608
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt023760
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt023760
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt019560
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt019560
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0284505
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0236608
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0925
IRS990/OccupancyGrp/ProgramServicesAmt05772
IRS990/OccupancyGrp/TotalAmt06697
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0650
IRS990/OfficeExpensesGrp/ProgramServicesAmt04264
IRS990/OfficeExpensesGrp/TotalAmt04914
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt0-1
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt05374
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt021495
IRS990/OtherEmployeeBenefitsGrp/TotalAmt026869
IRS990/OtherExpensesGrp/Desc0DOWNTOWN PROGRAMMING CO
IRS990/OtherExpensesGrp/Desc1DUMPSTER PROGRAM
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/Desc3TELEPHONE AND INTERNET
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0206
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1160
IRS990/OtherExpensesGrp/ProgramServicesAmt0449514
IRS990/OtherExpensesGrp/ProgramServicesAmt1115148
IRS990/OtherExpensesGrp/ProgramServicesAmt23904
IRS990/OtherExpensesGrp/ProgramServicesAmt33046
IRS990/OtherExpensesGrp/TotalAmt0449514
IRS990/OtherExpensesGrp/TotalAmt1115148
IRS990/OtherExpensesGrp/TotalAmt24110
IRS990/OtherExpensesGrp/TotalAmt33206
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt055745
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0222980
IRS990/OtherSalariesAndWagesGrp/TotalAmt0278725
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MICHAEL PENNINK
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0677600
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01097
IRS990/PYOtherExpensesAmt0632623
IRS990/PYOtherRevenueAmt024587
IRS990/PYProgramServiceRevenueAmt0193338
IRS990/PYRevenuesLessExpensesAmt0-44763
IRS990/PYSalariesCompEmpBnftPaidAmt0308762
IRS990/PYTotalExpensesAmt0941385
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0896622
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-47896
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt096997
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01001725
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0735312
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0875896
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0752872
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0541176
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03906981
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01441
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01097
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt03
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02549
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0624633
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt078217
IRS990ScheduleA/OtherIncome170Grp/TotalAmt078217
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97970
IRS990ScheduleA/PublicSupportPY170Pct00.97660
IRS990ScheduleA/PublicSupportTotal170Amt03906981
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01001725
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0735312
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0875896
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0752872
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0541176
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03906981
IRS990ScheduleA/TotalSupportAmt03987747
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/BookValueAmt036296
IRS990ScheduleD/EquipmentGrp/DepreciationAmt075550
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0111846
IRS990ScheduleD/ExpensesNotReportedAmt026255
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01144124
IRS990ScheduleD/OtherExpensesIncludedAmt026255
IRS990ScheduleD/OtherRevenueAmt026255
IRS990ScheduleD/RevenueNotReportedAmt026255
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01096228
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDRAISING COSTS 26,255.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING COSTS 26,255.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt036296
IRS990ScheduleD/TotalExpensesPerForm990Amt01144124
IRS990ScheduleD/TotalRevenuePerForm990Amt01096228
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01122483
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01170379
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt026255
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FUNDRAISING ACTIVITY
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt045815
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt045815
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt045815
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt045815
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt019560
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt026255
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt026255
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE COOL SPRING DOWNTOWN DISTRICT IS TO CREATE AND SUSTAIN AN ARTS AND ENTERTAINMENT DISTRICT EMANATING FROM THE CORE OF THE CITY. THE DISTRICT IS TO BE A VIBRANT CENTER OF ARTISTIC, CULTURAL, CIVIC AND COMMERCIAL ACTIVITY; A PLACE WHERE PEOPLE LIVE, WORK, FREQUENTLY VISIT AND LOYALLY PATRONIZE; A ROBUST GENERATOR OF ECONOMIC PROSPERITY FOR ALL OF CUMBERLAND COUNTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION'S PROCESS TO REVIEW FORM 990 A COPY OF THE FORM 990 IS PROVIDED TO THE TREASURER AND REVIEWED BY THE TREASURER PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ENFORCEMENT OF CONFLICTS POLICY THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY TO ENSURE THERE ARE NO POTENTIAL CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION PROCESS FOR TOP OFFICIAL SEE FORM 990, PART VI, LINE 15B COMPENSATION PROCESS FOR OFFICERS THE ORGANIZATION FOLLOWS THE PROCESS DESCRIBED IN TREASURY REGULATION 4958 (6) (C) FOR ESTABLISHING THE REBUTTABLE PRESUMPTION OF REASONABLENESS IN THE REVIEW, APPROVAL, AND DOCUMENTATION OF OFFICER, KEY MANAGEMENT, AND DIRECTOR COMPENSATION. THE EXECUTIVE COMMITTE REVIEWS AND APPROVES THE ENTIRE COMPENSATION PACKAGE OF EACH PERSON BASED ON COMPARABILITY FACTORS INCLUDING BUT NOT LIMITED TO THE SIZE OF THE ORGANIZATION, AND THE EMPLOYEE'S LENGTH OF SERVICE. THIS PROCESS IS CONDUCTED ON AN ANNUAL BASIS FOR ALL POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS DISCLOSURE EXPLANATION THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ROUNDING -1.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART 1, LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0COOL SPRING TRANSPORT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0TRANSPORTATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0222 HAY STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0FAYETTEVILLE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd028301
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00

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