Downtown Winston-Salem Partnership Inc
- Assets
- $254.3k
- Revenue
- $909.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Winstonsalem, NC
- Founding
- 02/1994
- Data as of
- 06/2023
- EIN
- 56-1849234
Organization Overview
Downtown Winston-Salem Partnership Inc is located in Winstonsalem, NC. The organization was established in 1994. 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 06/2023, Downtown Winston-Salem Partnership Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Winston-Salem Partnership 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 06/2023, Downtown Winston-Salem Partnership Inc generated $909.9k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $925.0k during the year ending 06/2023. While expenses have increased by 2.6% per year over the past 3 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
PROMOTION OF DOWNTOWN, PUBLIC SAFETY, PARK AND SHOP STAMPS, AND CHRISTMAS TREE LIGHTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION AND SAFETY
PARK AND SHOP
TREE LIGHTING AND CHRISTMAS DECORATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Thiel President | Officer | 40 | $110,000 |
Meade Willis Director | Trustee | 1 | $0 |
Alfred Adams Director | Trustee | 1 | $0 |
Walter Farabee Director | Trustee | 1 | $0 |
Dara Folan Director | Trustee | 1 | $0 |
Linda Garboczi Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $686,898 |
| 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 | $686,898 |
| Total Program Service Revenue | $214,156 |
| Investment income | $3,884 |
| 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 | $909,938 |
| 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. | $130,583 |
| Compensation of current officers, directors, key employees. | $26,117 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $97,848 |
| Pension plan accruals and contributions | $8,035 |
| Other employee benefits | $2,727 |
| Payroll taxes | $16,093 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,778 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,420 |
| Advertising and promotion | $1,577 |
| Office expenses | $15,122 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,339 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $3,511 |
| All other expenses | $7,537 |
| Total functional expenses | $924,951 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131,101 |
| Savings and temporary cash investments | $75,650 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $47,552 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $254,303 |
| Accounts payable and accrued expenses | $10,602 |
| 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 | $16,875 |
| Other liabilities | $0 |
| Total liabilities | $27,477 |
| Net assets without donor restrictions | $209,234 |
| Net assets with donor restrictions | $17,592 |
| 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 | $254,303 |