Smart Kinston Foundation

Nonprofit profile at a glance

EIN
463476101
IRS 990-EZ coverage
2014–2024
Forms available
Form 990-EZ 2024
Location
Kinston, NC, USA
Phone
2522082527
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$98,433
Expenses
$60,266
Assets
$200,307
Liabilities
$0

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

Leadership & pay

3 people listed

People named in this filing

  • Stephen B Hill (Chairman)
  • Glenn Gannett (Treasurer)
  • David Stuart Lindley (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To allow the public and organizations to participate in the revitalization of certain downtown areas in order to attract certain creative workforces and cultural tourists.

What it reported doing in 2024

With relocation of first artists, smART Kinston has begun to see the fruits of its reparatory work. Applications continue to come in as we shape the Arts and Cultural District into the focal point of Kinston's revitalization efforts. Construction on Arts Riverwalk and neighborhood entrance has begun and will soon solidify district as a destination. Recruitment of artists continues. Promotion of project has received much local media attention, but soon will grow into regional and statewide publicity as scope of recruitment reach increases. Continued support from local businesses has broadened reach of recruitment efforts. Construction on public art entrance to neighborhood is complete and partnerships with legacy non-profits have led to proceeds sharing from local events and joint initiatives. The Arts Council, Cooperative Extension and public school system collaborating to make entrance part of school curricula. Donation from Committee of 100 shows willingness of local leaders of commerce to invest in the district, which they view as an arts-based business incubator. Community college partnership continues to provide resource for artists starting their first businesses. Continued support from restaurateurs and other business owners, both financially and through promotion, has led to an upswing in tours of the neighborhood and conversations with additional stakeholders about future partnerships.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 79% for direct work, and 21% for grants.

The verdict

STRONG - 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: 76
  • Transparency & Controls: 100
  • Sustainability: 78
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.2%; rating input score 61
  • 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: 38.8%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 3.32; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 46th percentile among comparable filings
  • Revenue growth: -2% per year; rating input score 0; 44th percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 61.2% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $60K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2014 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.