Nonprofit · EIN 56-1432420
DOWNTOWN SALISBURY INC
Tax-exempt · SALISBURY, NC 28145
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $232,272 | $157,734 | $74,538 | $284,341 | $8,227 | $276,114 |
| June 30, 2024 | 990 | $196,366 | $135,992 | $60,374 | $1,100,652 | $554,055 | $546,597 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $964
- Program service revenue
- $252,627
- Investment income
- $6,805
- Net rental income
- -$28,124
- Other revenue
- -$28,124
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $3,900
- Travel
- $2,103
- Program services (functional)
- $135,373
- Management and general (functional)
- $22,361
Balance sheet and other
- Total assets, start of year
- $1,100,652
- Total assets, end of year
- $284,341
- Total liabilities, end of year
- $8,227
- Net assets, end of year
- $276,114
- Net assets without donor restrictions
- $276,114
- Gross receipts
- $260,396
- Employees
- 0
- Volunteers
- 25
- Year formed
- 1983
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TONYAN SCHOFIELD | CHAIR Trustee or director, Officer | 0 | $0 |
| SAMANTHA HASPEL | VICE-CHAIR Trustee or director, Officer | 0 | $0 |
| JAMES FAUST | SECRETARY Trustee or director, Officer | 0 | $0 |
| STAN JORDAN | TREASURER Trustee or director, Officer | 0 | $0 |
| KELLY BAKER | DIRECTOR Trustee or director | 0 | $0 |
| VINCIA BENJAMIN-MILLER | DIRECTOR Trustee or director | 0 | $0 |
| PETE BOGLE | DIRECTOR Trustee or director | 0 | $0 |
| ROD CRIDER | DIRECTOR Trustee or director | 0 | $0 |
| BILL GREENE | DIRECTOR Trustee or director | 0 | $0 |
| JAYNE HELMS | DIRECTOR Trustee or director | 0 | $0 |
| MARK LEWIS | DIRECTOR Trustee or director | 0 | $0 |
| ANDY MABEN | DIRECTOR Trustee or director | 0 | $0 |
| JAMES MEACHAM | DIRECTOR Trustee or director | 0 | $0 |
| ASHLEY MEDINA | DIRECTOR Trustee or director | 0 | $0 |
| GIANNI MOSCARDINI | DIRECTOR Trustee or director | 0 | $0 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BOB POTTER | DIRECTOR Trustee or director | 0 | $0 |
| DAVID ROSE | DIRECTOR Trustee or director | 0 | $0 |
| TAMARA SHEFFIELD | DIRECTOR Trustee or director | 0 | $0 |
| GREG SHIELDS | DIRECTOR Trustee or director | 0 | $0 |
| ELAINE SPALDING | DIRECTOR Trustee or director | 0 | $0 |
| KIMBERLY STEIG | DIRECTOR Trustee or director | 0 | $0 |
| BRAD WALSER | DIRECTOR Trustee or director | 0 | $0 |
| SADA STEWART TROUTMAN | EXECUTIVE DI Officer | 0 | $0 |
990 for the year ended June 30, 2024: 24 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TONYAN SCHOFIELD | CHAIR Trustee or director, Officer | 0 | $0 |
| SAMANTHA HASPEL | VICE-CHAIR Trustee or director, Officer | 0 | $0 |
| JAMES FAUST | SECRETARY Trustee or director, Officer | 0 | $0 |
| STAN JORDAN | TREASURER Trustee or director, Officer | 0 | $0 |
| KELLY BAKER | DIRECTOR Trustee or director | 0 | $0 |
| VINCIA BENJAMIN-MILLER | DIRECTOR Trustee or director | 0 | $0 |
| PETE BOGLE | DIRECTOR Trustee or director | 0 | $0 |
| ROD CRIDER | DIRECTOR Trustee or director | 0 | $0 |
| BILL GREENE | DIRECTOR Trustee or director | 0 | $0 |
| JAYNE HELMS | DIRECTOR Trustee or director | 0 | $0 |
| HANNAH JACOBSON | DIRECTOR Trustee or director | 0 | $0 |
| MARK LEWIS | DIRECTOR Trustee or director | 0 | $0 |
| ANDY MABEN | DIRECTOR Trustee or director | 0 | $0 |
| JAMES MEACHAM | DIRECTOR Trustee or director | 0 | $0 |
| ASHLEY MEDINA | DIRECTOR Trustee or director | 0 | $0 |
| GIANNI MOSCARDINI | DIRECTOR Trustee or director | 0 | $0 |
| BOB POTTER | DIRECTOR Trustee or director | 0 | $0 |
| DAVID ROSE | DIRECTOR Trustee or director | 0 | $0 |
| TAMARA SHEFFIELD | DIRECTOR Trustee or director | 0 | $0 |
| GREG SHIELDS | DIRECTOR Trustee or director | 0 | $0 |
| ELAINE SPALDING | DIRECTOR Trustee or director | 0 | $0 |
| KIMBERLY STEIG | DIRECTOR Trustee or director | 0 | $0 |
| BRAD WALSER | DIRECTOR Trustee or director | 0 | $0 |
| SADA STEWART TROUTMAN | EXECUTIVE DI Officer | 0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 479, SALISBURY, NC 28145-0479
- Principal officer (990 for 2024)
- SADA STEWART TROUTMAN, 217 S MAIN STREET, SALISBURY, NC 28144
- Signed the 990
- SADA STEWART TROUTMAN, EXECUTIVE DIRECTOR
- Phone
- (704) 637-7814
- Website
- DOWNTOWNSALISBURYNC.COM
- Return prepared by
- BRENT H PARKS CPA PA
Mission
PROMOTING, ENHANCING AND MANAGING THE DEVELOPMENT OF THE COMMERCIAL, BUSINESS, ECONOMIC, RESIDENTIAL, CIVIC, AND HISTORICAL DEVELOPMENT OF DOWNTOWN SALISBURY, NORTH CAROLINA.
Program accomplishments
- PROMOTED, ENHANCED AND MANAGED THE DEVELOPMENT OF THE CENTRAL BUSINESS DISTRICT IN A MANNER WHICH CONTINUES TO MAKE THE DISTRICT THE ECONOMIC, GOVERNMENTAL, SOCIAL AND CULTURAL CENTER OF ROWAN COUNTY BY PROMOTING ACTIVITY IN ECONOMIC RESTRUCTURING,DESIGN, PROMOTIONS, AND BUILDING PARTNERSHIPS.Expenses $135,373 · revenue $252,627
- PROMOTED, ENHANCED AND MANAGED THE DEVELOPMENT OF THE CENTRAL BUSINESS DISTRICT IN A MANNER WHICH CONTINUES TO MAKE THE DISTRICT THE ECONOMIC, GOVERNMENTAL, SOCIAL AND CULTURAL CENTER OF ROWAN COUNTY BY PROMOTING ACTIVITY IN ECONOMIC RESTRUCTURING, DESIGN, PROMOTIONS, AND BUILDING PARTNERSHIPS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-1432420
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1985
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31Z)
- Assets (IRS master file)
- $284,341
- Income (IRS master file)
- $260,396
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $232,272 | $157,734 | $284,341 | XML |
| 990 | June 2024 | $196,366 | $135,992 | $1,100,652 | XML |
| 990 | June 2023 | $226,737 | $140,809 | $1,071,650 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1432420).
Questions about DOWNTOWN SALISBURY INC
- What is the EIN of DOWNTOWN SALISBURY INC?
- The employer identification number (EIN) of DOWNTOWN SALISBURY INC is 56-1432420.
- Is DOWNTOWN SALISBURY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1985.
- Are donations to DOWNTOWN SALISBURY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does DOWNTOWN SALISBURY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of DOWNTOWN SALISBURY INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did DOWNTOWN SALISBURY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of DOWNTOWN SALISBURY INC?
- The 990 for the year ended June 30, 2025 names SADA STEWART TROUTMAN.
- Who are the officers and directors of DOWNTOWN SALISBURY INC?
- The 990 for the year ended June 30, 2025 lists 23 people; 0 received compensation from the organization.
- How much revenue does DOWNTOWN SALISBURY INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $232,272, expenses of $157,734 and total assets of $284,341 at year end.
Other nonprofits in SALISBURY
- ROWAN COUNTY CHAMBER OF COMMERCE EIN 56-0387470 · last filed 990 for 2025
- ROWAN GROWTH PARTNERS EIN 87-0713114 · last filed 990 for 2024
- CORNERSTONE REAL ESTATE HOLDING COMPANY EIN 84-2734098 · last filed 990 for 2025
- ROTARY CLUB OF SALISBURY CHARITIES EIN 83-3500671 · last filed 990 for 2025
- HOLIDAY CARAVAN EIN 27-1059288 · last filed 990-N for 2025
- ROTARY CLUB OF ROWAN COUNTY NORTH CAROLINA USA EIN 56-1555475 · last filed 990-N for 2024
- SOUTHERN INITIATIVES EIN 46-4672867 · last filed 990-N for 2025
- FUTURE SCAPES INCORPORATED EIN 88-3868170 · last filed 990-N for 2025
All nonprofits in SALISBURY · North Carolina · Community improvement and capacity building