Discover Downtown Middlesboro Inc

Nonprofit profile at a glance

EIN
113793431
IRS 990 coverage
2013–2020
Forms available
Form 990 2020, Form 990-EZ 2012
Location
Middlesboro, KY, USA
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$92,906
Expenses
$141,693
Assets
$195,841
Liabilities
$1,116

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • DAVID WHITLOCK (PRESIDENT)

People named in this filing

  • LEVI TURNER (DIRECTOR)
  • BEN HOE (DIRECTOR)
  • JOAN MILLER (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Revitalization of downtown middlesboro, improving physical appearance of downtown while maintaining its historic integrity; retain existing businesses & attract new ones. Make downtown the center of economic & social life of the tri-state area.

What it reported doing in 2020

Festivals and events was highlighted by the levitt amp music series bringing the joy of free, live music to people of all ages and backgrounds. Concerts are performed in middlesboros pop-up park - downtown middlesboros vibrant green space that was formerly a vacant gravel lot. It augments the citys community driven revitalization of its economically challenged downtown, encouraging further community investment and promoting middlesboro as a cultural destination.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 32
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 33
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.8%; rating input score 41
  • Program expense ratio: 26.8%; rating input score 27
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -52.5%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 1.38; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -4.2% per year; rating input score 0; 52nd percentile among comparable filings
  • Revenue growth: 9.9% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 20.9% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 40.8% of revenue deployed · 26.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $38K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2013 to 2020
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • High — Financial Efficiency: Program expense ratio scored 27/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.