Downtown Wytheville Incorporated

Nonprofit profile at a glance

EIN
464878598
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Wytheville, VA, USA
Phone
2762233343
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$416,727
Expenses
$232,536
Assets
$386,111
Liabilities
$12,656

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

Leadership & pay

10 people listed

Executive titles in this filing

  • JOSH PENNINGTON (PRESIDENT)
  • SHANE TERRY (VICE PRESIDENT)
  • TODD WOLFORD (EXECUTIVE DIRECTOR)

People named in this filing

  • DEB KING (BOARD MEMBER)
  • PATRICIA AUSTIN (BOARD MEMBER)
  • MEAGAN BOKOVOY (BOARD MEMBER)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To stimulate downtown revitalization and economic growth in wytheville, Virginia through organization, promotion, and design.

What it reported doing in 2024

Downtwon wytheville, inc. Also began administering a virgina main street grant to aid small downtown businesses in making investments to lower and stabilize their utility costs as this issue became more pronounced due to rising electricity rates. Through this pilot program, downtown wytheville has helped modernize many historic downtown buildings through weatherization upgrades, hvac efficiency upgrades, led lighting, smart electronics, and many other changes to help lower the burden of utlity rates in these historic properties. This pilot program has not only introduced the organization to many untapped resources for aiding businesses and property owners with projects like these, but continues to leverage additional grants into larger plans to address these costs in the long term.

Operating model

Revenue model
Grant-funded. 81% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 84% 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

MIXED - 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: 18
  • Transparency & Controls: 89
  • Accountability: 82
  • Sustainability: 70
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.9%; rating input score 17
  • Program expense ratio: 26.4%; rating input score 26
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 3rd 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: 4 of 7 controls in place; rating input score 57
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 44.2%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 1.66; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -21.9% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 12.3% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 17.1% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 16.9% of revenue deployed · 26.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $61K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2018 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.

  • High — Financial Efficiency: Mission deployment rate scored 17/100.
  • High — Financial Efficiency: Program expense ratio scored 26/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.