Civic Intelligence

Downtown Asheboro Inc.

990 • Fiscal year 2022 • EIN 84-3444377

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 15, 2022

Organization ProfileN/A
137 South Fayetteville StreetAsheboro, NC 27203

(336) 610-2628

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.30x

Higher debt load relative to assets than 82% of similar nonprofits.

2022 filings • NTEE A • <$500k nonprofits • Source year 2022

Liabilities / Revenue

77th percentile

0.11x

Higher debt load relative to revenue than 77% of similar nonprofits.

2022 filings • NTEE A • <$500k nonprofits • Source year 2022

Net Margin

71st percentile

23%

Higher net margin than 71% of similar nonprofits.

2022 filings • NTEE A • <$500k nonprofits • Source year 2022

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.

2022 filings • NTEE A • <$500k nonprofits • Source year 2022

Asset Growth

96th percentile

274%

Faster asset growth than 96% of similar nonprofits.

2022 filings • NTEE A • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

89th percentile

219%

Faster revenue growth than 89% of similar nonprofits.

2022 filings • NTEE A • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$99,253

Up $72,737 (+274%) from 2021

Net Assets

Up

$69,809

Up $60,016 (+613%) from 2021

Liabilities

Up

$29,444

Up $12,721 (+76%) from 2021

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin71st percentile

Revenue

Up

$265,881

Up $182,548 (+219%) from 2021

Expenses

Up

$205,921

Up $132,381 (+180%) from 2021

Net Income

Up

$59,960

Up $50,167 (+512%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$800K$600K$400K$200K$0Assets 2021: $26,516Liabilities 2021: $16,723Net Assets 2021: $9,7932021Assets 2022: $99,253Liabilities 2022: $29,444Net Assets 2022: $69,8092022Assets 2023: $133,036Liabilities 2023: $31,861Net Assets 2023: $101,1752023Assets 2024: $630,539Liabilities 2024: $27,809Net Assets 2024: $602,7302024Assets 2025: $285,033Liabilities 2025: $0Net Assets 2025: $285,0332025

Highlighted filing

2022

Assets$99,253
Liabilities$29,444
Net Assets$69,809
Open 2022 Filing

Operations Trend

Revenue Growth89th percentile

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

$1.0M$500K$0-$500KRevenue 2021: $83,333Expenses 2021: $73,540Net Income 2021: $9,7932021Revenue 2022: $265,881Expenses 2022: $205,921Net Income 2022: $59,9602022Revenue 2023: $297,229Expenses 2023: $265,863Net Income 2023: $31,3662023Revenue 2024: $818,888Expenses 2024: $317,333Net Income 2024: $501,5552024Revenue 2025: $174,078Expenses 2025: $491,775Net Income 2025: -$317,6972025

Highlighted filing

2022

Revenue$265,881
Expenses$205,921
Net Income$59,960
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 15, 2022
Return Version
2021v4.1
Gross Receipts
$265,881
Mission and Program Overview

Mission

To promote the businesses within histroric structures, therefore creating a stronger core for downtown historic preservation activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$14,671$66,590▲ $51,919
Accounts Receivable$11,845$26,913▲ $15,068
Prepaid Expenses and Deferred Charges-$5,750-
Total Assets$26,516$99,253▲ $72,737
Liabilities
Deferred Revenue$16,667$16,667→ $0
Accounts Payable and Accrued Expenses-$12,777-
Total Liabilities$16,667$29,444▲ $12,777
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$49,939-
Net Assets Without Donor Restrictions$9,849$19,870▲ $10,021
Total Net Assets Fund Balance$9,849$69,809▲ $59,960
Total Liabilities and Net Assets / Fund Balance$26,516$99,253▲ $72,737
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Al LaPradeChair
Joel McCloskyVice Chair
Bert Garris MatthewsBoard Member
Christie LuckenbachBoard Member
Kathy HomillerBoard Member
Kelly HeathBoard Member
Reynolds LiskBoard Member
Tom OsteenBoard Member
Barbara GallimoreSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$265,881
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$265,881
Change in Net Assets
$59,960
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$83,393
Salaries, Compensation, and Employee Benefits$72,467
Grants and Similar Amounts Paid$50,061
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$0$60,000$0$60,000
Grants to Domestic Orgs$50,061--$50,061
Advertising$2,916$9,205$0$12,121
Other Employee Benefits$0$7,877$0$7,877
Payroll Taxes$0$4,590$0$4,590
Conferences and Meetings$0$4,213$0$4,213
Other Expenses$1,453$94$0$1,547
Fees for Services Accounting$0$1,072$0$1,072
Insurance$0$865$0$865
Travel$0$657$0$657
Fees for Services Legal$0$330$0$330
Information Technology$0$223$0$223
Total Functional Expenses$116,743$89,178$0$205,921
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
LaPrade Investments LLCAsheboro, NC-Redevelopment$27,275
Luckenbach Properties LLCFranklinville, NC-Redevelopment$12,527
TKH Partners LLCAsheboro, NC-Redevelopment$8,959
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
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
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
Filing and Contact Details

Filer

Filer Name
Downtown Asheboro Inc
EIN
84-3444377
Phone
3366102628
Address
137 SOUTH FAYETTEVILLE STREET, ASHEBORO, NC 27203

Signing Officer

Name
Al Laprade
Title
Chair
Phone
3366102628
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Al Laprade
Formed
2019
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
1
Volunteers
15

Preparer

Firm
Huneycutt Parsley & Taylor CPAs PLLC
Address
221 S Fayetteville St, Asheboro, NC 27203
Preparer
William R Huneycutt
Phone
3366269970
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Copies are given to board before filing”

Raw XML AppendixShowing 400 of 419 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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IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/AssistancePurposeTxt2Redevelopment
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IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt1Luckenbach Properties LLC
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt2TKH Partners
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IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/CashGrantAmt112527
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IRS990/TotalVolunteersCnt015
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/AddressLine1Txt0137 S Fayetteville St
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IRS990/USAddress/ZIPCd027203
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0AL LAPRADE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum03366102628
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DOWNTOWN ASHEBORO INC
ReturnHeader/Filer/BusinessNameControlTxt0DOWN
ReturnHeader/Filer/EIN0843444377
ReturnHeader/Filer/PhoneNum03366102628
ReturnHeader/Filer/USAddress/AddressLine1Txt0137 SOUTH FAYETTEVILLE STREET

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$99,253
Liabilities
$29,444
Net assets
$69,809
Revenue
$265,881
Expenses
$205,921
Net income
$59,960
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.85$0.00$2.85$1.74$4.92$3.18
2024Detailed filing. Detailed filing data is available for this year.$6.31$0.28$6.03$8.19$3.17$5.02
2023Detailed filing. Detailed filing data is available for this year.$1.33$0.32$1.01$2.97$2.66$0.31
2022Detailed filing. Detailed filing data is available for this year.$0.99$0.29$0.70$2.66$2.06$0.60
2021Detailed filing. Detailed filing data is available for this year.$0.27$0.17$0.10$0.83$0.74$0.10