Eagle Market Streets Development
- Assets
- $4.9m
- Revenue
- $3.1m
- Investments
- $131.2k
- Employees
- 26
- Location
- Asheville, NC
- Founding
- 06/1995
- Data as of
- 12/2022
- EIN
- 58-2140995
Organization Overview
Eagle Market Streets Development is located in Asheville, NC. The organization was established in 1995. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Eagle Market Streets Development employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eagle Market Streets Development 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 12/2022, Eagle Market Streets Development generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 51.5% each year . All expenses for the organization totaled $2.5m during the year ending 12/2022. While expenses have increased by 41.2% per year over the past 8 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 2021, Eagle Market Streets Development has awarded 23 individual grants totaling $1,607,901. 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
THE MISSION OF EAGLE MARKET STREETS DEVELOPMENT CORPORATION, CDC IS TO DEVELOP PEOPLE, PROPERTY AND BUSINESSES AND ENVISIONS EQUITABLE, INCLUSIVE SOCIO-ECONOMIC JUSTICE FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL PROGRAMS RELATE TO COMMUNITY AND PROPERTY DEVELOPMENT, ECONOMIC BUSINESS AND WORKFORCE DEVELOPMENT WHERE COMMUNITIES OF COLOR AND UNDERSERVED POPULATIONS ARE ELEVATED FROM POVERTY BY MEANS OF EDUCATION AND SOCIAL ENTREPRENEURSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marvin Chambers Chair | OfficerTrustee | 0.4 | $0 |
Lajune Waterford Secretary | OfficerTrustee | 0.4 | $0 |
Elizabeth Russell Treasurer | OfficerTrustee | 0.4 | $0 |
Rosie Harrell Board Member | Trustee | 0.4 | $0 |
Carolina Siliceo Perez Board Member | Trustee | 0.4 | $0 |
Stephanie S Twitty President Ce | Officer | 35 | $40,458 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pinnacle Cdc Durham Try Consulting | 12/30/22 | $159,000 |
Asheville Community Enterprises Consulting | 12/30/22 | $124,210 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $14,436 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $792,698 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,204,248 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,011,382 |
| Total Program Service Revenue | $53,415 |
| Investment income | $108 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $36,532 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,101,437 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $524,000 |
| 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. | $40,459 |
| Compensation of current officers, directors, key employees. | $10,115 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $717,186 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,585 |
| Payroll taxes | $64,082 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,498 |
| Fees for services: Accounting | $17,810 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $933,139 |
| Advertising and promotion | $29,996 |
| Office expenses | $114,336 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $32,995 |
| Travel | $16,015 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,390 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $20,379 |
| All other expenses | $0 |
| Total functional expenses | $2,545,293 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,849,451 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $267,770 |
| 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 | $2,165,324 |
| Investments—publicly traded securities | $432,970 |
| Investments—other securities | $131,235 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,941 |
| Total assets | $4,860,691 |
| Accounts payable and accrued expenses | $26,464 |
| 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 | $2,091,590 |
| Unsecured mortgages and notes payable | $10,186 |
| Other liabilities | $101,638 |
| Total liabilities | $2,229,878 |
| Net assets without donor restrictions | $2,630,813 |
| 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 | $4,860,691 |
Grants Awarded
Over the last fiscal year, Eagle Market Streets Development has awarded $478,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
CAMP GRIER PURPOSE: ORG SUPPORT | $25,000 |
COMMUNITY FOUNDATION OF HENDERSON PURPOSE: CO-THINKK AWARDS | $76,000 |
GRACE COVENANT PRESBYTERIAN CHURCH PURPOSE: REPARATION DONATIONS | $14,250 |
LA SEMILLA-NFC UNITED METHODIST PURPOSE: HRSA DISTRIBUTION | $30,500 |
NEW LIFE CONNECTION PURPOSE: HRSA DISBURSEMENT | $60,500 |
LA SEMILLA-NFC UNITED METHODIST PURPOSE: WAKE FINAL DISTRIBUT | $30,000 |