Downtown Beaufort Development Assoc

Nonprofit profile at a glance

EIN
473032912
IRS 990-EZ coverage
2021–2024
Forms available
Form 990-EZ 2024, Form 990-N 2015
Location
Beaufort, NC, USA
Phone
2529161255
Rating
96
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$142,509
Expenses
$138,299
Assets
$49,184
Liabilities
$2,501

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • NELSON OWENS (PRESIDENT)

People named in this filing

  • SUSAN SANDERS (TREASURER)
  • NELSON OWENS (PRESIDENT)
  • KRISTEN PRESCOTT (VICE PRESIDE)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Downtown beaufort development association's mission is to realize the full economic potential of beaufort by promoting the downtown district as a place of commerce, recreation and culture. To provide a forum for businesses, organizations and residents within our focus area to exchange information, build community and forward the area's cultural and economic development.

What it reported doing in 2024

To realize the full economic potential of beaufort by promoting the downtown district as a place of commerce, recreation and culture.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 100
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97%; rating input score 97
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 3%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 34.9% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 34.3% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 61.4% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 97% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $138K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.