Harbor Towns Inc
- Assets
- $4.6m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- Data as of
- 12/2022
- EIN
- 87-3875262
Organization Overview
Harbor Towns Inc is located in Chapel Hill, NC. Harbor Towns Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
INCREASE TOURISM, MAXIMIZE ECONOMIC IMPACT, CREATE JOBS, AND ACT SUSTAINABLY (CONT. ON SCH O) ACROSS THE NORTH CAROLINA ALBEMARLE SOUND IBX REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMISSIONED THE DESIGN AND CONSTRUCTION OF THE FIRST AND SECOND FAST-FERRY PASSENGER BOAT FOR TRANSPORTATION ON THE ALBEMARLE SOUND BETWEEN THE HARBOR TOWNS. THIS IS A NEW CLASS OF BOAT, WHICH WE NAMED THE ALBEMARLE CLASS, SPECIFICALLY DESIGNED FOR THE WATERS OF THE ALBEMARLE SOUND. IT IS A COMBINATION CATAMARAN AND HYDROFOIL WHICH WILL HOLD ABOUT 30-32 PASSENGERS WITH A CREW OF TWO PEOPLE. SEARCHED FOR AND IDENTIFIED A USED DINNER BOAT WHICH WE ARE LIKELY TO PURCHASE AND RENOVATE. THIS RENOVATED DINNER BOAT WILL ALSO OPERATE ON THE ALBEMARLE SOUND PROVIDING A BEAUTIFUL AND MEMORABLE OPTION TO ENJOY TO THE HARBOR TOWNS. (CONTINUED ON SCHEDULE O)WE ALSO CONTINUED TO WORK WITH COMMUNITY LEADERS, BUSINESSES, AND ENTREPRENEURS ACROSS THE REGION TO RENEW AND UPGRADE THEIR HISTORIC TOWNS TO BE EVEN MORE WELCOMING AND ENGAGING FOR TOURISTS AND VISITORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Didow President And CEO | OfficerTrustee | 1 | $0 |
Estelle Sanders Secretary | OfficerTrustee | 1 | $0 |
Peter Yalden-Thomson Treasurer | OfficerTrustee | 1 | $0 |
Philip Mcmullan Vice-President | OfficerTrustee | 1 | $0 |
Edward Goodwin Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,000,000 |
| 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 | $5,000,000 |
| Total Program Service Revenue | $0 |
| Investment income | $12,408 |
| 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 | $5,012,408 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $20,624 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,218 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,061 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $367,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,632,764 |
| Savings and temporary cash investments | $3,011,870 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,644,634 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $4,644,634 |
| Total liabilities and net assets/fund balances | $4,644,634 |