Fuquay-varina Downtown Association
Nonprofit profile at a glance
- EIN
- 562122680
- IRS 990-EZ coverage
- 2023–2024
- Forms available
- Form 990 2022, Form 990-EZ 2024
- Location
- Fuquayvarina, NC, USA
- Phone
- 9195520848
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $174,065
- Expenses
- $162,788
- Assets
- $243,185
- Liabilities
- $31,595
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
People named in this filing
- CHRISTY FAMOLARE (EXECUTIVE DI)
- KATIE DIES (CHAIR)
- KELLY QUIRING (PAST CHAIR)
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
The organization is dedicated to building a community that supports fuquay-varina businesses and private investment in the historic core. Activities and programs are designed and implemented to attract traffic and customers to the downtown areas and edcuate residents on the importance of the historic downtown areas.
What it reported doing in 2024
The purpose of the organization is to promote the historic preservation, protection and use of the town of fuquay-varina's traditional downtown area, including commercial enterprises and residences.
Operating model
- Revenue model
- Earned-program. 69% of the money available for current operations came from fees and other program revenue.
- 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 program spending has grown recently. A relatively small share of available resources goes toward mission work and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 58
- Transparency & Controls: 82
- Sustainability: 55
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 54.9%; rating input score 55
- Program expense ratio: 63.6%; rating input score 64
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 6.5%; rating input score 51; 51st percentile among comparable filings
- Total-asset coverage ratio: 1.49; rating input score 72; 72nd percentile among comparable filings
- Liabilities to assets ratio: 0.13; rating input score 22; 22nd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 1.1% per year; rating input score 100; 33rd percentile among comparable filings
- Revenue growth: 1.1% per year; rating input score 100; 26th percentile among comparable filings
- Asset growth: 13.4% per year; rating input score 100; 70th percentile among comparable filings
Details
- Where the money goes: 54.9% of revenue deployed · 63.6% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $103K in reported program spending
- Leadership: top reported pay $0 · 14 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 2 filed schedules
- Filing history: 2 filing years from 2023 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.
- Review — Financial Efficiency: Mission deployment rate scored 55/100.
- Review — Sustainability: Operating margin scored 51/100.
- High — Sustainability: Liabilities to assets ratio scored 22/100.