High Point Downtown Stadium Foundation
- Assets
- $1.0m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 114
- Location
- High Point, NC
- Founding
- Data as of
- 12/2023
- EIN
- 82-4227658
Organization Overview
High Point Downtown Stadium Foundation is located in High Point, NC. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, High Point Downtown Stadium Foundation employed 114 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. High Point Downtown Stadium Foundation 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 12/2023, High Point Downtown Stadium Foundation generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 32.9% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO LESSEN THE BURDENS OF THE GOVERNMENT OF HIGH POINT, NORTH CAROLINA, THROUGH THE OPERATION OF, FOR THE PUBLIC BENEFIT, THE PUBLIC-OWNED SPORTS, ENTERTAINMENT AND COMMUNITY EVENTS FACILITY IN DOWNTOWN HIGH POINT, NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO MAINTAIN AND OPERATE THE DOWNTOWN SPORTS / ENTERTAINMENT STADIUM FOR THE CITY OF HIGH POINT, NORTH CAROLINA FOR THE BENEFIT OF THE PUBLIC AND COMMUNITY EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Coy Williard Chairman | OfficerTrustee | 5 | $0 |
Greg York Secretary | OfficerTrustee | 1 | $0 |
Scott Tilley Director | Trustee | 1 | $0 |
Maurice Hull Vice Chairman | OfficerTrustee | 1 | $0 |
Otis Foster Director | Trustee | 1 | $0 |
IV Culp Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $608,267 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $608,267 |
| Total Program Service Revenue | $1,281,733 |
| Investment income | $3,950 |
| 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 | $2,144,231 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $81,029 |
| 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. | $143,890 |
| Compensation of current officers, directors, key employees. | $43,167 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $561,767 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $59,543 |
| Payroll taxes | $63,168 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $585 |
| Fees for services: Accounting | $4,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,001 |
| Advertising and promotion | $0 |
| Office expenses | $17,938 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $72,024 |
| Travel | $6,340 |
| 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 | $53,571 |
| Insurance | $105,148 |
| All other expenses | $31,768 |
| Total functional expenses | $2,339,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,268 |
| Savings and temporary cash investments | $505,656 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,994 |
| 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 | $493,499 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,031,417 |
| Accounts payable and accrued expenses | $151,536 |
| Grants payable | $0 |
| Deferred revenue | $130,000 |
| 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 | $184,367 |
| Total liabilities | $465,903 |
| Net assets without donor restrictions | $565,514 |
| 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 | $1,031,417 |
Grants Awarded
Over the last fiscal year, High Point Downtown Stadium Foundation has awarded $64,599 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NORTH CAROLINA FALLEN FIREFIGHTERS FOUNDATION PURPOSE: CHARITABLE CONTRIBUTION TO HELP WITH OPERATION EXPENSES | $5,819 |
PRESTON ROBERT TISCH BRAIN TUMOR CENTER PURPOSE: CHARITABLE CONTRIBUTION TO HELP WITH OPERATION EXPENSE | $52,961 |
HIGH POINT CITIZENS POLICE ACADEMY ALUMNI ASSOC PURPOSE: CHARITABLE CONTRIBUTION TO HELP WITH OPERATION EXPENSES | $5,819 |