Downtown Development Association Of Lincolnton Inc
- Assets
- $215.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 2
- Location
- Lincolnton, NC
- Founding
- 07/2003
- Data as of
- 12/2021
- EIN
- 56-1699362
Organization Overview
Downtown Development Association Of Lincolnton Inc is located in Lincolnton, NC. The organization was established in 2003. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Downtown Development Association Of Lincolnton Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Development Association Of Lincolnton Inc 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 12/2021, Downtown Development Association Of Lincolnton Inc generated $63.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $77.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
TO PROMOTE THE PRESERVATION, PROTECTION, AND USE OF LINCOLNTON'S TRADITIONAL DOWNTOWN AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betty Wilkes Executive Di | 40 | $40,000 | |
Julie Horton Treasurer | 0.5 | $0 | |
Judy Botkin Secretary | 0.75 | $0 | |
Thomas Huskey Chair | 6 | $0 | |
John Somers Vice Chair | 1 | $0 | |
Carole Howell Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,500 |
| Total Program Service Revenue | $13,870 |
| Membership dues | $0 |
| Investment income | $199 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $63,569 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $43,060 |
| Professional fees and other payments to independent contractors | $4,800 |
| Occupancy, rent, utilities, and maintenance | $3,909 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $25,604 |
| Total expenses | $77,373 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $172,772 |
| Other assets | $0 |
| Total assets | $215,309 |
| Total liabilities | $890 |
| Net assets or fund balances | $214,419 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Richmond Metropolitan Convention & Vistors Bureau Richmond, VA | $6,099,091 | $8,138,093 |
Knoxville Convention & Visitors Bureau Inc Knoxville, TN | $5,768,468 | $5,619,069 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
Columbia Metropolitan Convention And Visitors Bureau Columbia, SC | $6,376,262 | $4,843,981 |
Srs Community Reuse Organization Aiken, SC | $6,557,053 | $4,875,445 |
Grove Park Foundation Inc Atlanta, GA | $25,190,874 | $3,791,912 |
Alexandria Convention And Visitors Association Inc Alexandria, VA | $744,565 | $3,884,098 |
Vibrant Memphis Inc Memphis, TN | $19,880,886 | $2,783,167 |
Hampton Roads Economic Development Alliance Norfolk, VA | $4,122,075 | $4,031,039 |