Downtown Durham Inc
- Assets
- $1.6m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 7
- Location
- Durham, NC
- Founding
- 02/1995
- Data as of
- 06/2022
- EIN
- 56-1790531
Organization Overview
Downtown Durham Inc is located in Durham, NC. The organization was established in 1995. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Downtown Durham Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Durham Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Downtown Durham Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $1.6m during the year ending 06/2022. While expenses have increased by 6.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CREATE AN ENVIRONMENT FOR PRIVATE DEVELOPMENT IN DOWNTOWN DURHAM BY FOCUSING OUR EFFORTS IN FIVE MAIN PROJECT AREAS: ECONOMIC DEVELOPMENT, PARKING, APPEARANCE, SAFETY, PROMOTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOWNTOWN DURHAM, INC. EXISTS TO PROMOTE AND BE A CATALYST FOR THE REVITALIZATION OF DURHAM'S DOWNTOWN DISTRICT BY FOCUSING ON FIVE MAIN AREAS THAT INCLUDE ECONOMIC DEVELOPMENT, PARKING, APPEARANCE, SAFETY AND PROMOTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Thompson President & CEO | Officer | 40 | $125,500 |
Scott Selig Vice Chair | OfficerTrustee | 1 | $0 |
Tucker Bartlett Chair | OfficerTrustee | 2 | $0 |
Gloria Shealey Secretary | OfficerTrustee | 1 | $0 |
Mark Stanford Treasurer | OfficerTrustee | 2 | $0 |
Carey Greene Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,511,548 |
| All other contributions, gifts, grants, and similar amounts not included above | $67,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,579,348 |
| Total Program Service Revenue | $7,220 |
| Investment income | $10 |
| 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 | $1,586,578 |
| 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. | $136,907 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $258,096 |
| Pension plan accruals and contributions | $6,758 |
| Other employee benefits | $25,843 |
| Payroll taxes | $30,070 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,529 |
| Advertising and promotion | $51,997 |
| Office expenses | $23,253 |
| Information technology | $6,365 |
| Royalties | $0 |
| Occupancy | $84,783 |
| Travel | $10,575 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,335 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,967 |
| Insurance | $2,862 |
| All other expenses | $0 |
| Total functional expenses | $1,577,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $334,879 |
| Savings and temporary cash investments | $28,756 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,512 |
| 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 | $8,457 |
| Net Land, buildings, and equipment | $18,364 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,167,876 |
| Total assets | $1,600,844 |
| Accounts payable and accrued expenses | $10,025 |
| Grants payable | $7,667 |
| 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 | $1,172,800 |
| Total liabilities | $1,190,492 |
| Net assets without donor restrictions | $410,352 |
| 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 | $1,600,844 |
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