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← DOWNTOWN BELMONT DEVELOPMENT ASSOCIATION

Form 990 for tax year 2022

Filed by DOWNTOWN BELMONT DEVELOPMENT ASSOCIATION.

Totals

Total revenue
$164,176
Total expenses
$165,918
Contributions and grants received
$76,000
Grants paid
$37,149
Program service revenue
$88,176
Investment income
$0
Other revenue
$0
Total assets, end of year
$83,566
Total liabilities, end of year
$35,411
Net assets or fund balances, end of year
$48,155
Program services expenses (Part IX)
$157,773
Management and general expenses
$8,145
Fundraising expenses
$0
Program service expenses (Part III)
$157,773

Program services were 95.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $47,500

  • 1f · All other contributions, gifts and grants

    $28,500

  • 2a · Program service revenue: EVENT FEES

    total $88,176 · related or exempt $88,176

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $37,149 · program services $37,149

  • 11c · Fees: accounting

    total $8,058 · management and general $8,058

  • 12 · Advertising and promotion

    total $217 · program services $217

  • 17 · Travel

    total $2,670 · program services $2,670

  • 23 · Insurance

    total $2,757 · program services $2,757

  • 24a · Other expenses: FRIDAY NIGHT LIVE

    total $79,753 · program services $79,753

  • 24b · Other expenses: CHRISTMAS VILLAGE

    total $21,223 · program services $21,223

  • 24c · Other expenses: OTHER EVENTS

    total $8,965 · program services $8,965

  • 24d · Other expenses: MEALS & ENTERTAINMENT

    total $2,778 · program services $2,778

  • 24e · All other expenses

    total $2,348 · program services $2,261 · management and general $87

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $51,621 · end of year $52,614

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,044 · end of year $30,952

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,768 · end of year $2,911

  • 24 · Unsecured notes and loans payable

    end of year $32,500

  • 27 · Net assets without donor restrictions

    beginning of year $49,897 · end of year $48,155

Mission and programs · 2022

Mission

TO FURTHER ADVANCE THE ECONOMIC, AESTHETIC AND CULTURAL ENVIRONMENT OF HISTORIC DOWNTOWN BELMONT, NC.

  • FRIDAY NIGHT LIVE: DOWNTOWN BELMONT IS AMPLIFIED WITH LIVE MUSIC EVERY OTHER FRIDAY NIGHT STARTING IN LATE APRIL THROUGH JULY 4TH. THE DBDA HOLDS THESE CONCERTS FOR THE COMMUNITY AND BRINGS IN A DIVERSE LINE UP OF MUSIC EVERY YEAR. THESE SUMMER CONCERTS ARE EXTREMELY POPULAR, KID FRIENDLY, AND DRAW THOUSANDS OF SPECTATORS INTO DOWNTOWN.

    Expenses $85,397 · Revenue $88,176

  • GRANTS TO LOCAL BUSINESSES

    Expenses $37,149 · Grants $37,149

  • ALL OTHER EVENTS

    Expenses $35,227

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Phil Boggan

    DOWNTOWN DIR

    Total calculated
    $0
    Hours/week
    40

  • Amy Bossard

    DESIGN COMMI

    Total calculated
    $0
    Hours/week
    2

  • Jennifer Church

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kelly Glantz

    ORGANIZATION

    Total calculated
    $0
    Hours/week
    2

  • Jim Hefferan

    APPT. COUNCI

    Total calculated
    $0
    Hours/week
    2

  • Joe Jordan

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kevin Krouse

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Susan Martello

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Emilie Rudisill

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Marc Seelinger

    APPT. COUNCI

    Total calculated
    $0
    Hours/week
    2

  • Seth Sherrin

    ORGANIZATION

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth Simcox

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Al Wall

    EVC CO- CHAI

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • DANCE SPECIALTIES

    $7,500

    BEAUTIFICATION

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • CITY OF BELMONT

    170C1 · CITY · NC

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2024
IRS schema version
2022v5.0
Source object
202421369349310177

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