Downtown Kingsport Associationinc

Nonprofit profile at a glance

EIN
626097264
IRS 990 coverage
2013–2015
Forms available
Form 990 2015
Location
Kingsport, TN, USA
Phone
4232466550
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Official website

Reported finances

Revenue
$221,227
Expenses
$241,705
Assets
$130,338
Liabilities
$71,231

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • BEVERLEY PERDUE (PRESIDENT)

Highest reported compensation

  • SHERRI MOSLEY (EXEC. DIRECT): $52,846 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promote & improve downtown kingsport

What it reported doing in 2015

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 the 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.

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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 92
  • Sustainability: 23
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.1%; rating input score 80
  • Program expense ratio: 73.3%; rating input score 73
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 95%; rating input score 95; 26th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -9.3%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.55; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 21.9%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: -12.7% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -17.6% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 15.8% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 80.1% of revenue deployed · 73.3% of spending went to programs
  • Governance: 19 of 20 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $177K in reported program spending
  • Leadership: top reported pay $53K · 20 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2013 to 2015
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.