Form 990 for tax year 2024
Filed by DOWNTOWN KINGSPORT ASSOCIATION INC.
Totals
- Total revenue
- $182,720
- Total expenses
- $190,730
- Contributions and grants received
- $110,450
- Grants paid
- $0
- Program service revenue
- $65,945
- Investment income
- $6,325
- Other revenue
- $0
- Total assets, end of year
- $103,091
- Total liabilities, end of year
- $13,584
- Net assets or fund balances, end of year
- $89,507
- Program services expenses (Part IX)
- $111,483
- Management and general expenses
- $79,247
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $111,483
Program services were 58.5% 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.
-
1e · Government grants (contributions)
$90,000
-
1f · All other contributions, gifts and grants
$20,450
-
2a · Program service revenue: Program Income
total $65,945
-
3 · Investment income
total $6,325 · related or exempt $6,325
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $81,114 · program services $60,836 · management and general $20,278
-
8 · Pension plan contributions
total $4,204 · program services $3,153 · management and general $1,051
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $6,279 · program services $4,709 · management and general $1,570
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $4,710 · management and general $4,710
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $30,000 · management and general $30,000
-
17 · Travel
total $2,001 · management and general $2,001
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $850 · management and general $850
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $16,016 · management and general $16,016
-
24a · Other expenses: Office expense
total $2,771 · management and general $2,771
-
24b · Other expenses: Special events
total $42,785 · program services $42,785
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $108,857 · end of year $103,091
-
17 · Accounts payable and accrued expenses
beginning of year $11,340 · end of year $13,584
-
27 · Net assets without donor restrictions
beginning of year $69,003 · end of year $59,199
-
28 · Net assets with donor restrictions
beginning of year $28,514 · end of year $30,308
Mission and programs · 2024
Mission
TO PROMOTE THE DOWNTOWN KINGSPORT AREA CULTURAL, CIVIC, AND ECONOMIC ACTIVITES TO ENHANCE THE LOCAL COMMUNITY.
-
TO PROMOTE THE DOWNTOWN KINGSPORT AREA CULTURAL, CIVIC, AND ECONOMIC ACTIVITIES TO ENHANCE THE LOCAL COMMUNITY. THIS INCLUDES PROMOTION OF DOWNTOWN KINGSPORT MERCHANTS AND BUSINESSES TO INCREASE ECONOMIC GROWTH AND TO ADVOCATE FOR PROVIDING OF SERVICES THAT ENHANCE THE DOWNTOWN KINGSPORT AREA. THE ORGANIZATION PROMOTES DEVELOPMENT OF PROPERTY NOT PREVIOUSLY USED AND ACTS AS A VOICE FOR OVER 130 DOWNTOWN BUSINESSES.
Expenses $111,483
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dani Woodrum
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Tara Burns
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jim Hill
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Chip Millican
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Steven Bower
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Chris raines
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Frank LettFRANK LETT
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Dory Creech
President
- Total calculated
- $0
- Hours/week
- 1
-
Tiffany Smelser
President- Elect
- Total calculated
- $0
- Hours/week
- 1
-
Billy Robinson
Past President
- Total calculated
- $0
- Hours/week
- 1
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 8 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202512819349300326
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