← DOWNTOWN NORFOLK DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by DOWNTOWN NORFOLK DEVELOPMENT CORPORATION.

Totals

Total revenue: $2,371,149
Total expenses: $2,531,880
Contributions and grants received: $2,191,362
Grants paid: $0
Program service revenue: $267,051
Investment income: $10,954
Other revenue: -$98,218
Total assets, end of year: $1,603,999
Total liabilities, end of year: $94,326
Net assets or fund balances, end of year: $1,509,673
Program services expenses (Part IX): $2,467,982
Management and general expenses: $63,898
Fundraising expenses: $0
Program service expenses (Part III): $2,467,982

Program services were 97.5% 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.

1d · Related organizations

$4,000
1e · Government grants (contributions)

$2,184,472
1f · All other contributions, gifts and grants

$2,890
2a · Program service revenue: PROGRAM SERVICE REVENU

total $172,298 · related or exempt $172,298
2b · Program service revenue: MEMBERSHIP DUES

total $76,031 · related or exempt $76,031
2c · Program service revenue: DID REVENUE

total $18,722 · related or exempt $18,722
3 · Investment income

total $10,954 · excluded $10,954
6a · Gross rents

real property $93,070
6b · Less rental expenses

real property $192,370
6c · Rental income or loss

real property -$99,300
6d · Net rental income or loss

total -$99,300 · related or exempt -$99,300
11a · Other revenue: OTHER INCOME

total $1,082 · related or exempt $1,082
11e · Other revenue, total

$1,082

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $153,315 · program services $141,628 · management and general $11,687
7 · Other salaries and wages

total $389,452 · program services $360,243 · management and general $29,209
8 · Pension plan contributions

total $63,206 · program services $56,885 · management and general $6,321
10 · Payroll taxes

total $53,603 · program services $49,583 · management and general $4,020
11b · Fees: legal

total $11,051 · program services $11,051
11c · Fees: accounting

total $23,273 · program services $23,273
12 · Advertising and promotion

total $256,518 · program services $256,518
13 · Office expenses

total $315 · program services $315
16 · Occupancy

total $6,912 · program services $6,912
17 · Travel

total $13,666 · program services $7,752 · management and general $5,914
20 · Interest

total $2,377 · program services $2,377
22 · Depreciation, depletion and amortization

total $186,444 · program services $186,444
23 · Insurance

total $31,908 · program services $31,448 · management and general $460
24a · Other expenses: CONTRACTED SERVICES

total $963,393 · program services $963,393
24b · Other expenses: STRATEGIC PLANNING

total $126,922 · program services $126,922
24c · Other expenses: REPAIRS AND MAINTENANCE

total $88,244 · program services $88,244
24d · Other expenses: ART AND DESIGN DISTRICT

total $39,962 · program services $39,962
24e · All other expenses

total $121,319 · program services $115,032 · management and general $6,287

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,091,721 · end of year $646,787
2 · Savings and temporary cash investments

beginning of year $88,396 · end of year $461,994
4 · Accounts receivable

beginning of year $289,553 · end of year $206,723
10a · Land, buildings and equipment: cost or other basis

$1,613,246
10b · Land, buildings and equipment: accumulated depreciation

$1,348,568
10c · Land, buildings and equipment, net

beginning of year $433,289 · end of year $264,678
14 · Intangible assets

beginning of year $4,722 · end of year $1,389
15 · Other assets

beginning of year $28,377 · end of year $22,428
17 · Accounts payable and accrued expenses

beginning of year $137,873 · end of year $10,020
19 · Deferred revenue

beginning of year $9,475 · end of year $4,230
24 · Unsecured notes and loans payable

beginning of year $77,999 · end of year $43,533
25 · Other liabilities

beginning of year $40,307 · end of year $36,543
27 · Net assets without donor restrictions

beginning of year $195,361 · end of year $86,044
28 · Net assets with donor restrictions

beginning of year $1,475,043 · end of year $1,423,629

Mission and programs · 2024

Mission

THE DOWNTOWN NORFOLK COUNCIL (DNC) ENHANCES DOWNTOWN NORFOLK'S VALUE, ENERGY, AND ACTIVITY THROUGH PROVIDING ESSENTIAL CLEAN AND SAFE SERVICES, STRENGTHENING AUTHENTIC URBAN EXPERIENCES, AND FOSTERING INCLUSIVE COMMUNITY.

MANAGEMENT OF THE DOWNTOWN IMPROVEMENT DISTRICT FOR PUBLIC SAFETY, PUBLIC SPACE MAINTENANCE, MARKETING INITIATIVES AND OTHER BOARD DESIGNATED KEY OBJECTIVES.

Expenses $2,094,973 · Revenue $150,111
PARTNERSHIP WITH CITY OF NORFOLK TO PROVIDE STIMULUS FOR THE REVITILIZATION OF GRANBY STREET, SELDEN MARKET AND PROMOTION OF ARTS AND DESIGN DISTRICT.
THE SIX WEEK PRODUCTION OF HOLIDAYS IN THE CITY AND GRAND ILLUMINATION PARADE, AND OTHER EVENTS TO ENCOURAGE DOWNTOWN ENGAGEMENT

Expenses $373,009 · Revenue $18,722

As filed on the 2024 return.

Listed in Part VII

James WoffordJAMES WOFFORD

IMMEDIATE PAST CHAIR

Total calculated

$0

Hours/week

1 + 1 related
Mel PriceMEL PRICE

CHAIR

Total calculated

$0

Hours/week

1 + 1 related
Tommy LeemanTOMMY LEEMAN

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Jenny BonsiewichJENNY BONSIEWICH

TREASURER

Total calculated

$0

Hours/week

1 + 1 related
Preston CarrawayPRESTON CARRAWAY

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Suping LiSUPING LI

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Scott CampbellSCOTT CAMPBELL

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Christian ConwayCHRISTIAN CONWAY

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Matthew CroweMATTHEW CROWE

EXECUTIVE COMMITTEE

Total calculated

$0

Hours/week

1 + 1 related
Patrick EdwardsPATRICK EDWARDS

VICE CHAIR

Total calculated

$0

Hours/week

1 + 1 related
Jesse HemphillJESSE HEMPHILL

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Ray KingRAY KING

EXECUTIVE COMMITTEE

Total calculated

$0

Hours/week

1 + 1 related
Miles LeonMILES LEON

EXECUTIVE COMMITTEE

Total calculated

$0

Hours/week

1 + 1 related
Christy MarronCHRISTY MARRON

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Michelle NicholsMICHELLE NICHOLS

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Lacy PetersonLACY PETERSON

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Jimmy SchoolsJIMMY SCHOOLS

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Brittany TrebleBRITTANY TREBLE

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Kenneth E OwenKENNETH E OWEN

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Raffaele AllenRAFFAELE ALLEN

EXECUTIVE COMMITTEE

Total calculated

$0

Hours/week

1 + 1 related
Tony BrothersTONY BROTHERS

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Dan HankinDAN HANKIN

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Blair ValdiviesoBLAIR VALDIVIESO

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Amy SampsonAMY SAMPSON

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Eva WigginsEVA WIGGINS

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Mary MillerMARY MILLER

PRESIDENT/CEO

Total calculated

$150,233

From this org

$142,674

From related orgs

$0

Other

$7,559

Hours/week

40 + 1 related

Schedule J breakdown matched by us

Base

$142,674

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$7,559

Filer's total

$150,233

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

3 · Written employment contract
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

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.

DOWNTOWN NORFOLK FUND

501(C)(3) · A MEDIUM FOR CHARITABLE GIVING & GRANTS FOR SPECIFIC CHARITABLE PROJECTS. · VA · controlled entity

Directly controlled by DOWNTOWN NORFOLK DEVELOPMENT CORPORATION

Provenance

Return type: form_990
Tax year: 2024
Filed: 6 February 2026
IRS schema version: 2024v5.5
Source object: 202630379349301508

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