Downtown Greensboro Inc
- Assets
- $1.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 7
- Location
- Greensboro, NC
- Founding
- 03/1997
- Data as of
- 06/2022
- EIN
- 56-2011549
Organization Overview
Downtown Greensboro Inc is located in Greensboro, NC. The organization was established in 1997. 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 Greensboro Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Greensboro 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 Greensboro Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $1.9m during the year ending 06/2022. While expenses have increased by 16.9% 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.
Since 2016, Downtown Greensboro Inc has awarded 37 individual grants totaling $684,520. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE AND STIMULATE NEW INVESTMENT, INTEREST AND ECONOMIC DEVELOPMENT IN THE CENTER CITY AREA OF GREENSBORO, NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOWNTOWN MUNICIPAL SERVICE DISTRICT (DMSD) FUNDS PROJECT TO PROVIDE FUNDS LEVIED AND COLLECTED BY THE CITY FROM AD VALOREM PROPERTY TAXES AND SALES TAXES IN THE DMSD AS AUTHORIZED BY NCGS 160A-536(D)TO DGI TO PERFORM, PROMOTE, AND DEVELOP SERVICES, FACILITIES, FUNCTIONS, AND PROMOTIONAL AND DEVELOPMENTAL ACTIVITIES IN THE DMSD. FUNDS ARE USED TO POSITION THE DOWNTOWN BUSINESS IMPROVEMENT DISTRICT AS AN ATTRACTIVE, VIBRANT DESTINATION FOR THOSE WHO WORK, PLAY AND LIVE HERE THROUGH PUBLIC SPACE MANAGEMENT, ECONOMIC DEVELOPMENT INITIATIVES, MARKETING SERVICES, SPECIAL EVENTS AND ADVOCACY ACTIVITIES.
ECONOMIC SERVICES PROJECT - TO PROVIDE FOR THE REVITALIZATION AND ECONOMIC DEVELOPMENT OF DOWNTOWN GREENSBORO. SERVICES INCLUDE MARKETING OF THE DOWNTOWN AREA, ECONOMIC DEVELOPMENT PROGRAMS, PROGRAM MANAGEMENT AND IMPLEMENTATION AS WELL AS PROVIDING LONG TERM VISION DEVELOPMENT AND PLANNING RECOMMENDATIONS FOR THE DOWNTOWN AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zack Matheny President & CEO | OfficerTrustee | 40 | $158,630 |
Joy Ross CFO | OfficerTrustee | 40 | $67,075 |
Tracey Myers Board Chairman | OfficerTrustee | 1 | $0 |
Jeff Yetter Board Past Chair | OfficerTrustee | 1 | $0 |
Victoria Carlin-Milstein Board Secretary | OfficerTrustee | 1 | $0 |
Andy Zimmerman Board Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $436,822 |
| Government grants | $235,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $711,822 |
| Total Program Service Revenue | $1,216,875 |
| Investment income | $1,096 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$734 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,929,059 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $150,415 |
| 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. | $263,561 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $206,156 |
| Pension plan accruals and contributions | $30,253 |
| Other employee benefits | $37,403 |
| Payroll taxes | $35,352 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $371 |
| Fees for services: Accounting | $8,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,082 |
| Advertising and promotion | $231,126 |
| Office expenses | $16,269 |
| Information technology | $34,229 |
| Royalties | $0 |
| Occupancy | $82,575 |
| Travel | $19,819 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $562,771 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,738 |
| Insurance | $1,943 |
| All other expenses | $0 |
| Total functional expenses | $1,881,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $857,847 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $479,852 |
| 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 | $97,981 |
| Net Land, buildings, and equipment | $34,313 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,500 |
| Total assets | $1,475,493 |
| Accounts payable and accrued expenses | $48,797 |
| 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 | $48,797 |
| Net assets without donor restrictions | $841,309 |
| Net assets with donor restrictions | $585,387 |
| 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 | $1,475,493 |
Grants Awarded
Over the last fiscal year, Downtown Greensboro Inc has awarded $94,498 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
FORGE GREENSBORO PURPOSE: RETAIL REVITALIZATION GRANT | $10,000 |
GREENSBORO CHAMBER OF COMMERCE PURPOSE: SPONSOR TABLES FOR AWARDS BANQUETS. | $8,250 |
MAGNOLIA HOUSE FOUNDATION PURPOSE: SPARK GRANT AND SPONSORSHIP | $5,334 |
SEAFOOD DESTINY DOWNTOWN LLC PURPOSE: CATALYST GRANT | $6,000 |
THE FRESH MARKET PURPOSE: SPECIAL GRANT RETENTION | $50,000 |
SELFIE SPOT CO PURPOSE: CATALYST GRANT | $5,847 |