Nonprofit · EIN 56-1529636
NEW DURHAM CORPORATION
Tax-exempt · DURHAM, NC 27701
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $11,094,346 | $11,094,346 | $0 | $242,305,000 | $242,305,000 | $0 |
| June 30, 2024 | 990 | $9,471,639 | $9,471,639 | $0 | $261,680,000 | $261,680,000 | $0 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $11,094,346
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $11,094,346
Balance sheet and other
- Total assets, start of year
- $261,680,000
- Total assets, end of year
- $242,305,000
- Total liabilities, end of year
- $242,305,000
- Net assets, end of year
- $0
- Gross receipts
- $11,094,346
- Employees
- 0
- Volunteers
- 3
- Year formed
- 1986
- 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 |
|---|---|---|---|
| Bo Ferguson | President Trustee or director, Officer | 0.5 | $0 |
| TIM FLORA | VICE-PRESIDENT Trustee or director, Officer | 0.5 | $0 |
| MINDY TAYLOR | SECRETARY/TREASURER Trustee or director, Officer | 0.5 | $0 |
990 for the year ended June 30, 2024: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| WANDA PAGE | President Trustee or director, Officer | 0.5 | $0 |
| TIM FLORA | VICE-PRESIDENT Trustee or director, Officer | 0.5 | $0 |
| MINDY TAYLOR | SECRETARY/TREASURER Trustee or director, Officer | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 101 CITY HALL PLZ, DURHAM, NC 27701-3329
- Principal officer (990 for 2024)
- Bo Ferguson, 101 City Hall Plaza, Durham, NC 27701
- Signed the 990
- Tim Flora, Director of Finance
- Phone
- (919) 560-4455
Mission
To promote and encourage the revitalization of the City of Durham North Carolina through the acquisition, construction and/or lease of real estate and improvements, facilities and equipment for the use of the general public.
Program accomplishments
- Code 900099: TO SERVE THE NEEDS OF THE CITY OF DURHAM, NC IN DEVELOPING PUBLIC IMPROVEMENTS IN CONJUNCTION WITH ITS GOVERNMENT. IT HAS EXISTED AS A MEANS TO LESSEN THE BURDENS OF THE GOVERNMENT BY FACILITATING IMPROVEMENTS THROUGH SPECIAL FINANCING ALTERNATIVES (RATHER THAN MUNICIPAL FINANCING) AND IT SERVES AS A VEHICLE FOR MUNICIPAL FINANCING FOR THE CITY.Expenses $11,094,346 · revenue $11,094,346
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
- 56-1529636
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1987
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S410)
- Assets (IRS master file)
- $242,305,000
- Income (IRS master file)
- $11,094,346
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $11,094,346 | $11,094,346 | $242,305,000 | IRS |
| 990 | June 2024 | $9,471,639 | $9,471,639 | $261,680,000 | XML |
| 990 | June 2023 | $7,352,191 | $7,352,191 | $226,600,958 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | 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 56-1529636).
Questions about NEW DURHAM CORPORATION
- What is the EIN of NEW DURHAM CORPORATION?
- The employer identification number (EIN) of NEW DURHAM CORPORATION is 56-1529636.
- Is NEW DURHAM CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1987.
- Are donations to NEW DURHAM CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does NEW DURHAM CORPORATION 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 NEW DURHAM CORPORATION 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 NEW DURHAM CORPORATION 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 NEW DURHAM CORPORATION?
- The 990 for the year ended June 30, 2025 names Bo Ferguson.
- Who are the officers and directors of NEW DURHAM CORPORATION?
- The 990 for the year ended June 30, 2025 lists 3 people; 0 received compensation from the organization.
- How much revenue does NEW DURHAM CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $11,094,346, expenses of $11,094,346 and total assets of $242,305,000 at year end.
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All nonprofits in DURHAM · North Carolina · Community improvement and capacity building