Skip to content
Nonprofiteer
← EAST MARKET STREET DEVELOPMENT CORPORATION

Form 990 for tax year 2025

Filed by EAST MARKET STREET DEVELOPMENT CORPORATION.

Totals

Total revenue
$615,006
Total expenses
$664,869
Contributions and grants received
$228,666
Grants paid
$0
Program service revenue
$352,877
Investment income
$28,465
Other revenue
$4,998
Total assets, end of year
$2,518,582
Total liabilities, end of year
$1,866,909
Net assets or fund balances, end of year
$651,673
Program services expenses (Part IX)
$576,941
Management and general expenses
$45,918
Fundraising expenses
$42,010
Program service expenses (Part III)
$576,941

Program services were 86.8% 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)

    $50,000

  • 1f · All other contributions, gifts and grants

    $178,666

  • 2a · Program service revenue: APARTMENT RENTALS

    total $251,254 · related or exempt $18,870 · unrelated business $232,384

  • 2b · Program service revenue: BUSINESS DEVELOPMENT P

    total $101,623 · related or exempt $101,623

  • 3 · Investment income

    total $15,393 · excluded $15,393

  • 7a · Gross sales of assets other than inventory

    other assets $30,000

  • 7b · Less cost or other basis and sales expenses

    other assets $16,928

  • 7c · Gain or loss

    other assets $13,072

  • 7d · Net gain or loss

    total $13,072 · related or exempt $13,072

  • 11a · Other revenue: OTHER REVENUE

    total $4,998 · unrelated business $1,517 · excluded $3,481

  • 11e · Other revenue, total

    $4,998

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $100,000 · program services $80,000 · management and general $10,000 · fundraising $10,000

  • 7 · Other salaries and wages

    total $111,805 · program services $99,729 · management and general $12,076

  • 9 · Other employee benefits

    total $6,224 · program services $5,913 · management and general $311

  • 10 · Payroll taxes

    total $16,846 · program services $14,371 · management and general $1,710 · fundraising $765

  • 11c · Fees: accounting

    total $14,877 · management and general $14,877

  • 11e · Fees: professional fundraising services

    total $25,572 · fundraising $25,572

  • 11g · Fees: other

    total $7,810 · program services $7,810

  • 13 · Office expenses

    total $15,288 · program services $14,113 · management and general $1,003 · fundraising $172

  • 16 · Occupancy

    total $129,898 · program services $123,427 · management and general $3,400 · fundraising $3,071

  • 19 · Conferences, conventions and meetings

    total $1,175 · management and general $1,175

  • 20 · Interest

    total $31,192 · program services $31,192

  • 22 · Depreciation, depletion and amortization

    total $53,992 · program services $53,992

  • 23 · Insurance

    total $10,668 · program services $10,221 · management and general $265 · fundraising $182

  • 24a · Other expenses: ECONOMIC DEVELOPMENT

    total $137,963 · program services $135,053 · management and general $1,080 · fundraising $1,830

  • 24b · Other expenses: MISCELLANEOUS

    total $645 · program services $252 · fundraising $393

  • 24c · Other expenses: NEIGHBORHOOD SUPPORT SE

    total $365 · program services $365

  • 24d · Other expenses: PENALTIES

    total $283 · program services $283

  • 24e · All other expenses

    total $266 · program services $220 · management and general $21 · fundraising $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $728,383 · end of year $136,330

  • 2 · Savings and temporary cash investments

    beginning of year $66,228 · end of year $497,412

  • 3 · Pledges and grants receivable

    beginning of year $25,000

  • 10a · Land, buildings and equipment: cost or other basis

    $2,292,412

  • 10b · Land, buildings and equipment: accumulated depreciation

    $570,851

  • 10c · Land, buildings and equipment, net

    beginning of year $1,662,633 · end of year $1,721,561

  • 15 · Other assets

    beginning of year $154,316 · end of year $163,279

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,942 · end of year $13,274

  • 23 · Secured mortgages and notes payable

    beginning of year $1,894,652 · end of year $1,835,125

  • 25 · Other liabilities

    beginning of year $18,430 · end of year $18,510

  • 27 · Net assets without donor restrictions

    beginning of year -$7,473 · end of year $88,035

  • 28 · Net assets with donor restrictions

    beginning of year $709,009 · end of year $563,638

Mission and programs · 2025

Mission

EMSDC (D/B/A EAST GREENSBORO NOW) IS A NONPROFIT COMMUNITY DEVELOPMENT CORPORATION DEDICATED TO ADVANCING ECONOMIC AND COMMUNITY DEVELOPMENT IN EAST GREENSBORO, NORTH CAROLINA. AS THE AREA'S LEAD ECONOMIC AND COMMUNITY DEVELOPMENT ORGANIZATION, EAST GREENSBORO NOW WORKS TO EXPAND ECONOMIC OPPORTUNITY AND IMPROVE RESIDENTS' QUALITY OF LIFE THROUGH EQUITABLE REVITALIZATION INITIATIVES. ITS PROGRAMS INCLUDE AFFORDABLE HOUSING DEVELOPMENT, ENTREPRENEURSHIP AND SMALL BUSINESS TRAINING, MINORITY BUSINESS DEVELOPMENT, HEALTHY NEIGHBORHOOD INITIATIVES, AND TARGETED COMMERCIAL INVESTMENT IN HISTORICALLY UNDER-RESOURCED COMMUNITIES. BY PARTNERING WITH RESIDENTS, BUSINESSES, AND COMMUNITY STAKEHOLDERS, EAST GREENSBORO NOW STRENGTHENS NEIGHBORHOODS, SUPPORTS LOCAL ENTREPRENEURS, ATTRACTS INVESTMENT, AND PROMOTES SUSTAINABLE ECONOMIC GROWTH THAT BENEFITS EAST GREENSBORO AND ITS RESIDENTS.

Activities or mission (Part I)

EAST MARKET STREET DEVELOPMENT CORPORATION (EMSDC) IS A NONPROFIT COMMUNITY DEVELOPMENT CORPORATION DEDICATED TO ADVANCING ECONOMIC AND COMMUNITY DEVELOPMENT IN EAST GREENSBORO, NORTH CAROLINA. AS THE AREA'S LEAD ECONOMIC AND COMMUNITY DEVELOPMENT ORGANIZATION, EMSDC WORKS TO EXPAND ECONOMIC OPPORTUNITY AND IMPROVE RESIDENTS' QUALITY OF LIFE THROUGH EQUITABLE REVITALIZATION INITIATIVES. ITS PROGRAMS INCLUDE AFFORDABLE HOUSING DEVELOPMENT, ENTREPRENEURSHIP AND SMALL BUSINESS TRAINING, MINORITY BUSINESS DEVELOPMENT, HEALTHY NEIGHBORHOOD INITIATIVES, AND TARGETED COMMERCIAL INVESTMENT IN HISTORICALLY UNDER-RESOURCED COMMUNITIES. BY PARTNERING WITH RESIDENTS, BUSINESSES, AND COMMUNITY STAKEHOLDERS, EMSDC STRENGTHENS NEIGHBORHOODS, SUPPORTS LOCAL ENTREPRENEURS, ATTRACTS INVESTMENT, AND PROMOTES SUSTAINABLE ECONOMIC GROWTH THAT BENEFITS EAST GREENSBORO AND ITS RESIDENTS.

  • DEVELOP AND MARKET IDENTIFIED COMMERCIAL SITES TO ATTRACT NEEDED BUSINESSES IN THE CORRIDOR; DEVELOP SYSTEMS AND PROCESSES THAT EFFECTIVELY PROVIDE APPROPRIATE REVITALIZATION PROGRAMS FOR EAST GREENSBORO.

    Expenses $325,279 · Revenue $101,623

  • MAINTENANCE AND DEVELOPMENT/UPKEEP OF OWNED PROPERTIES IN TARGET DEVELOPMENT AREAS.

    Expenses $251,662 · Revenue $252,771

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MacArthur Sims

    EXECUTIVE DIRECTOR

    Total calculated
    $100,000
    From this org
    $100,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Andrena Coleman

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Carl W Brower Jr

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Ladaniel Gatling II

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25

  • Charlene Y Armstrong

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

  • Sharon Hightower

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • G Mark Prince

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • J Brent Christensen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Timothy Minor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Frankie Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Goldie Wells

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Ernestine Surgeon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Rodvegas Ingram

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Phanalphie Rhue

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Jay Jung

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Betty Watson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

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
2025
Filed
21 July 2026
IRS schema version
2025v4.2
Source object
202612029349301291

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.