Mooresville Downtown Commission Inc
- Assets
- $152.9k
- Revenue
- $284.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Mooresville, NC
- Founding
- 08/1988
- Data as of
- 06/2023
- EIN
- 56-1581821
Organization Overview
Mooresville Downtown Commission Inc is located in Mooresville, NC. The organization was established in 1988. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mooresville Downtown Commission Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2023, Mooresville Downtown Commission Inc generated $284.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $292.8k during the year ending 06/2023. While expenses have increased by 10.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MOORESVILLE DOWNTOWN COMMISSION FACILITATES DOWNTOWN DEVELOPMENT, SUPPORTS PRESERVATION ACTIVITIES AND PLANS, AND PROMOTES AND IMPLEMENTS EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTS CULTURE AND HUMANITIES PROGRAMS, GENERAL/OTHER: PROVIDES ACTIVITIES FOR DOWNTOWN MERCHANTS IN ORDER TO INCREASE THEIR BUSINESS BY SPONSORING EVENTS DOWNTOWN.
MISCELLANEOUS PROGRAMS
ARCHITECTURAL AND LANDSCAPE DESIGN SERVICES: PROVIDES GRANTS FOR DOWNTOWN MERHANTS AND STAKEHOLDERS TO BEAUTIFY THEIR PLACES OF BUSINESS AND THE SURROUNDING BUSINESS DISTRICT
BUSINESS DISTRICT REVITALIZATION PROGRAMS: PROVIDES BEAUTIFICATION TO DOWNTOWN STREETS INCLUDING LANDSCAPING AND HOLIDAY DECORATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Blankenship Director | Trustee | $0 | |
Shawnelle Cherry Director | Trustee | $0 | |
Mark Fowler Director | Trustee | $0 | |
Joel Goodman Director | Trustee | $0 | |
Stephanie Hathaway Director | Trustee | $0 | |
Megan Morrow Secretary | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $258,962 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $258,962 |
| Total Program Service Revenue | $25,438 |
| Investment income | $46 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $284,446 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $75,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,237 |
| Payroll taxes | $5,298 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,670 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $44,936 |
| Office expenses | $1,646 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,333 |
| Travel | $2,448 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $453 |
| Insurance | $2,091 |
| All other expenses | $3,878 |
| Total functional expenses | $292,802 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $126,854 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,611 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,160 |
| Net Land, buildings, and equipment | $3,308 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $152,933 |
| Accounts payable and accrued expenses | $6,210 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,210 |
| Net assets without donor restrictions | $146,723 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $152,933 |