Albemarle Downtown Development Corp

Organization Overview

Albemarle Downtown Development Corp is located in Albemarle, NC. The organization was established in 1992. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic 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. Albemarle Downtown Development Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2024, Albemarle Downtown Development Corp generated $463.9k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $459.2k during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2024

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE AN ENVIRONMENT FOR DEVELOPMENT THAT ENHANCES DOWNTOWN ALBEMARLE AS THE CULTURAL, HISTORIC, SOCIAL, ECONOMIC, AND EDUCATIONAL CENTER OF THE

Describe the Organization's Program Activity:

Part 3 - Line 4a

VARIOUS PROGRAMS TO PROMOTE DOWNTOWN DEVELOPMENT AND REVITALIZATION AND TO PROMOTE DOWNTOWN BUSINESS IN THE COMMUNITY


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Board, Officers & Key Employees

Name (title)Compensation
Beth Olivieri
Chair
$0
Jason Andrew
Past Chair
$0
Pam Poplin
Treasurer
$0
Olivia Phillips
Director
$0
Bradley Eudy
Director
$0
Connie Mosher
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$3,500
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,500
Total Program Service Revenue$442,599
Investment income $872
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 $463,908

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