Civic Intelligence

Harbor Towns Inc

990 • Fiscal year 2023 • EIN 87-3875262

Jan 01, 2023 to Dec 31, 2023 • Filed on Feb 26, 2025

Organization ProfileHARBORTOWNS.ORG
117 Springhill Forest RoadChapel Hill, NC 27516-9039

(919) 801-7156

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

6th percentile

0.00x

Higher debt load relative to revenue than 6% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

98th percentile

92%

Higher net margin than 98% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

18th percentile

$79,709

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

98th percentile

214%

Faster asset growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

93rd percentile

101%

Faster revenue growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$14,591,041

Up $9,946,407 (+214%) from 2022

Net Assets

Up

$14,584,116

Up $9,939,482 (+214%) from 2022

Liabilities

Up

$6,925

Up $6,925 from 2022

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin98th percentile

Revenue

Up

$10,089,728

Up $5,077,320 (+101%) from 2022

Expenses

Up

$827,177

Up $459,303 (+125%) from 2022

Net Income

Up

$9,262,551

Up $4,618,017 (+99%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$15M$10M$5.0M$0Assets 2022: $4,644,634Liabilities 2022: $0Net Assets 2022: $4,644,6342022Assets 2023: $14,591,041Liabilities 2023: $6,925Net Assets 2023: $14,584,1162023Assets 2024: $13,824,192Liabilities 2024: $113,210Net Assets 2024: $13,710,9822024

Highlighted filing

2023

Assets$14,591,041
Liabilities$6,925
Net Assets$14,584,116
Open 2023 Filing

Operations Trend

Revenue Growth93rd percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2022: $5,012,408Expenses 2022: $367,874Net Income 2022: $4,644,5342022Revenue 2023: $10,089,728Expenses 2023: $827,177Net Income 2023: $9,262,5512023Revenue 2024: $194,664Expenses 2024: $1,075,244Net Income 2024: -$880,5802024

Highlighted filing

2023

Revenue$10,089,728
Expenses$827,177
Net Income$9,262,551
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Feb 26, 2025
Return Version
2023v6.0
Gross Receipts
$10,089,728
Mission and Program Overview

Mission

To plan, implement, and manage tourism-based economic development strategies to benefit the albemarle sound region including, but not limited to, providing water transportation on the albemarle sound.

Increase tourism, maximize economic impact, create jobs, and act sustainably (cont. On sch o) across the north carolina albemarle sound ibx region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$10,000,000-
Land, Buildings, and Equipment, Net$0$3,083,124▲ $3,083,124
Cash and Non-Interest-Bearing Accounts$1,632,764$1,407,917▼ $224,847
Savings and Temporary Cash Investments$3,011,870$100,000▼ $2,911,870
Total Assets$4,644,634$14,591,041▲ $9,946,407
Liabilities
Accounts Payable and Accrued Expenses-$6,925-
Total Liabilities$0$6,925▲ $6,925
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,644,634$14,584,116▲ $9,939,482
Total Net Assets Fund Balance$4,644,634$14,584,116▲ $9,939,482
Total Liabilities and Net Assets / Fund Balance$4,644,634$14,591,041▲ $9,946,407

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,083,124-$3,083,124
Compensation and Service Providers
Top Officer Pay18th percentile

Employees

NameTitleBaseTotal
Nicholas DidowPresident and CEO$79,709$79,709
Peter Yalden-thomsonTreasurer$78,417$78,417
Estelle SandersSecretary$36,000$36,000
Philip McmullanVice-president$19,664$19,664

Board Members and Trustees

NameTitle
Edward GoodwinDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Nicole J & CoMarketing And Promotion Professional Ser606 EAST MAIN STREET, Elizabeth City, NC 27909$135,000
-Senior Captain In Charge Of Crew And Boa80 OBERLIN ROAD, Wanchese, NC 27981$112,500
Revenue and Support

Revenue Composition

Contributions and Grants
$10,010,000
Program Service Revenue
$0
Investment Income
$79,728
Other Revenue
$0
All Other Contributions
$10,000
Change in Net Assets
$9,262,551
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$613,387
Salaries, Compensation, and Employee Benefits$213,790
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$287,230--$287,230
Current Officers, Directors, Trustees, and Key Employees$213,790--$213,790
Advertising-$165,342-$165,342
Fees for Services Accounting-$42,842-$42,842
Fees for Services Other$31,259$360-$31,619
Travel$17,004--$17,004
Insurance$4,238$6,254-$10,492
Fees for Services Legal$7,635--$7,635
Office Expenses$2,131$2,265-$4,396
Conferences and Meetings-$4,166-$4,166
Other Expenses$3,261--$3,261
Information Technology$2,414--$2,414
All Other Expenses$717$1,544-$2,261
Total Functional Expenses$604,404$222,773$0$827,177
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
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
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

“Distributed as confidential to voting board members in advance of board meeting executive session, review with cla staff present to answer any questions, vote to accept or not.”

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

“Reviewed on an ongoing basis by at least two voting members of board.”

Form 990, Part VI, Section C, Line 19

“Documents available upon request”

Filing and Contact Details

Filer

Filer Name
Harbor Towns Inc
EIN
87-3875262
Phone
9198017156
Address
117 SPRINGHILL FOREST ROAD, CHAPEL HILL, NC 27516-9039

Signing Officer

Name
Nicholas Didow
Title
President and CEO
Phone
9198017156
Signed
2025-02-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicholas Didow
Formed
2021
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Cliftonlarsonallen Llp
Address
227 WEST TRADE STREET SUITE 800, CHARLOTTE, NC 28202
Preparer
John Norman
Phone
7049985200
Raw XML Appendix362 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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IRS990/ActivityOrMissionDesc0INCREASE TOURISM, MAXIMIZE ECONOMIC IMPACT, CREATE JOBS, AND ACT SUSTAINABLY (CONT. ON SCH O) ACROSS THE NORTH CAROLINA ALBEMARLE SOUND IBX REGION.
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt010089728
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt05012408
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt015102136
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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/BookValueAmt03083124
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03083124
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03083124
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DISTRIBUTED AS CONFIDENTIAL TO VOTING BOARD MEMBERS IN ADVANCE OF BOARD MEETING EXECUTIVE SESSION, REVIEW WITH CLA STAFF PRESENT TO ANSWER ANY QUESTIONS, VOTE TO ACCEPT OR NOT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEWED ON AN ONGOING BASIS BY AT LEAST TWO VOTING MEMBERS OF BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 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/TotalAssetsBOYAmt04644634
IRS990/TotalAssetsEOYAmt014591041
IRS990/TotalAssetsGrp/BOYAmt04644634
IRS990/TotalAssetsGrp/EOYAmt014591041
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt010010000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0222773
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0604404
IRS990/TotalFunctionalExpensesGrp/TotalAmt0827177
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt06925
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt06925
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IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0604404
IRS990/TotalReportableCompFromOrgAmt0213790
IRS990/TotalRevenueGrp/ExclusionAmt079728
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt017004
IRS990/TravelGrp/TotalAmt017004
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0117 SPRINGHILL FOREST ROAD
IRS990/USAddress/CityNm0CHAPEL HILL
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd0275169039
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HARBORTOWNS.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NICHOLAS DIDOW
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT AND CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum09198017156
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HARBOR TOWNS INC
ReturnHeader/Filer/BusinessNameControlTxt0HARB
ReturnHeader/Filer/EIN0873875262
ReturnHeader/Filer/PhoneNum09198017156
ReturnHeader/Filer/USAddress/AddressLine1Txt0117 SPRINGHILL FOREST ROAD
ReturnHeader/Filer/USAddress/CityNm0CHAPEL HILL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd0275169039
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0227 WEST TRADE STREET SUITE 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHARLOTTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028202
ReturnHeader/PreparerPersonGrp/PhoneNum07049985200
ReturnHeader/PreparerPersonGrp/PreparationDt02025-02-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN NORMAN
ReturnHeader/ReturnTs02025-02-28T09:58:44-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,591,041
Liabilities
$6,925
Net assets
$14,584,116
Revenue
$10,089,728
Expenses
$827,177
Net income
$9,262,551
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$13.8$0.11$13.7$0.19$1.08$0.88
2023Detailed filing. Detailed filing data is available for this year.$14.6$0.01$14.6$10.1$0.83$9.26
2022Detailed filing. Detailed filing data is available for this year.$4.64$0.00$4.64$5.01$0.37$4.64