Wilmington Downtown Inc
- Assets
- $944.4k
- Revenue
- $901.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Wilmington, NC
- Founding
- 10/1977
- Data as of
- 06/2022
- EIN
- 59-1752750
Organization Overview
Wilmington Downtown Inc is located in Wilmington, NC. The organization was established in 1977. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Wilmington Downtown Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wilmington Downtown 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 06/2022, Wilmington Downtown Inc generated $901.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.8% each year . All expenses for the organization totaled $811.7k during the year ending 06/2022. While expenses have increased by 19.2% 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
TO PROMOTE THE ECONOMIC GROWTH AND DEVELOPMENT OF DOWNTOWN WILMINGTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOWNTOWN WILMINGTON IS THE CULTURALLY VIBRANT AND ECONOMICALLY PROSPEROUS CENTER OF THE SOUTHEAST REGION, AND IS RECOGNIZED NATIONALLY FOR ITS OUTSTANDING QUALITY OF LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Holly Childs Executive Director | Officer | 40 | $75,278 |
Dawn Carter Director | OfficerTrustee | 4 | $0 |
Tom Davis Treasurer | OfficerTrustee | 4 | $0 |
Deb Hays Chair | OfficerTrustee | 4 | $0 |
Spruill Thompson Vice Chair | OfficerTrustee | 4 | $0 |
Rob Beale Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $224,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $38,792 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $263,292 |
| Total Program Service Revenue | $576,827 |
| Investment income | $3,679 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $57,311 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $901,109 |
| 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. | $75,278 |
| Compensation of current officers, directors, key employees. | $24,089 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $42,275 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,931 |
| Payroll taxes | $11,304 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,714 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $39,186 |
| Information technology | $2,822 |
| Royalties | $0 |
| Occupancy | $33,924 |
| 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 | $760 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $811,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $844,288 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $97,130 |
| 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 | $938 |
| Net Land, buildings, and equipment | $2,090 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $944,446 |
| Accounts payable and accrued expenses | $38,671 |
| 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 | $38,671 |
| Net assets without donor restrictions | $331,732 |
| Net assets with donor restrictions | $574,043 |
| 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 | $944,446 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Wilmington Downtown Inc has recieved totaling $11,000.
| Awarding Organization | Amount |
|---|---|
Rudisill Family Foundation Wrightsville Beach, NC PURPOSE: GENERAL FUND | $6,000 |
Credit Unions In The State Of California San Jose, CA PURPOSE: TO PROMOTE THE ECONOMIC GROWTH AND DEVELOPMENT OF DOWNTOWN WILMINGTON, NORTH CAROLINA. | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christian Community Development Corporation Inc Memphis, TN | $275,024,548 | $28,566,509 |
Csra Economic Opportunity Authority Inc Augusta, GA | $4,657,645 | $27,091,304 |
Charleston Area Convention & Visitors Bureau Charleston, SC | $17,210,458 | $29,781,081 |
Neighborhood Improvement Project Inc Augusta, GA | $12,770,161 | $24,738,698 |
Action Pact Inc Waycross, GA | $10,194,672 | $25,026,911 |
Upper East Tennessee Human Development Agency Kingsport, TN | $7,143,102 | $23,146,809 |
Hampton Roads Community Action Program Inc Newport News, VA | $4,977,691 | $24,100,051 |
Northwest Tennessee Economic Development Council Dresden, TN | $2,980,191 | $21,895,121 |
Tallatoona Community Action Partnership Inc Cartersville, GA | $2,878,907 | $21,403,724 |
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Waccamaw Economic Opportunity Council Inc Conway, SC | $5,439,118 | $14,126,176 |