Nonprofit · EIN 56-2011549
DOWNTOWN GREENSBORO INC
Tax-exempt · GREENSBORO, NC 27406
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $2,307,996 | $2,510,395 | -$202,399 | $1,555,665 | $138,351 | $1,417,314 |
| June 30, 2024 | 990 | $2,143,224 | $2,010,876 | $132,348 | $1,721,189 | $101,476 | $1,619,713 |
| June 30, 2023 | 990 (amended) | $2,344,155 | $2,283,486 | $60,669 | $1,610,961 | $123,596 | $1,487,365 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $816,667
- of which government grants
- $195,000
- Program service revenue
- $1,454,345
- Investment income
- $36,984
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $335,864
- Other salaries and wages
- $312,645
- Salaries, compensation and benefits (total)
- $781,187
- Professional fundraising fees
- $0
- Legal fees
- $12,638
- Accounting fees
- $10,615
- Occupancy
- $97,285
- Travel
- $19,678
- Depreciation
- $4,064
Balance sheet and other
- Total assets, start of year
- $1,721,189
- Total assets, end of year
- $1,555,665
- Total liabilities, end of year
- $138,351
- Net assets, end of year
- $1,417,314
- Land, buildings and equipment
- $16,777
- Net assets without donor restrictions
- $752,184
- Net assets with donor restrictions
- $665,130
- Gross receipts
- $2,307,996
- Employees
- 9
- Volunteers
- 0
- Year formed
- 1996
- 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 |
|---|---|---|---|
| ZACK MATHENY | FORMER PRESIDENT & CEO Trustee or director, Officer | 40 | $281,336 |
| JOY ROSS | CFO Officer | 36 | $84,812 |
| STU NICHOLS | BOARD CHAIRMAN Trustee or director, Officer | 1 | $0 |
| SERAJ PATEL | BOARD TREASURER Trustee or director, Officer | 1 | $0 |
| CHRIS WALDECK | BOARD SECRETARY Trustee or director, Officer | 1 | $0 |
| MARK PRINCE | BOARD EXECUTIVE COMMITTEE Trustee or director | 1 | $0 |
| ARTHUR SAMET | BOARD EXECUTIVE COMMITTEE Trustee or director | 1 | $0 |
| GINA HICKS | BOARD EXECUTIVE COMMITTEE Trustee or director | 1 | $0 |
| TREY DAVIS | EX OFFICIO Trustee or director | 1 | $0 |
| KRISTINA FULLER | BOARD MEMBER Trustee or director | 1 | $0 |
| LORI POAG | BOARD MEMBER Trustee or director | 1 | $0 |
| CRAIG CARLOCK | BOARD MEMBER Trustee or director | 1 | $0 |
| TIFFANY JACOBS | BOARD MEMBER Trustee or director | 1 | $0 |
| DAN EDER | BOARD MEMBER Trustee or director | 1 | $0 |
| DEREK CARTE | BOARD MEMBER Trustee or director | 1 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| VIRGINIA FREYALDENHOVEN | BOARD MEMBER Trustee or director | 1 | $0 |
| KEVIN SASSER | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 22 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ZACK MATHENY | PRESIDENT & CEO Trustee or director, Officer | 40 | $224,055 |
| JOY ROSS | CFO Officer | 36 | $78,766 |
| ANDY ZIMMERMAN | BOARD CHAIRMAN Trustee or director, Officer | 1 | $0 |
| TRACEY MYERS | BOARD PAST CHAIR Trustee or director, Officer | 1 | $0 |
| ADRIAN SMITH | BOARD TREASURER Trustee or director, Officer | 1 | $0 |
| MARK PRINCE | BOARD EXECUTIVE COMMITTEE Trustee or director | 1 | $0 |
| MARSH PRAUSE | BOARD EXECUTIVE COMMITTEE Trustee or director | 1 | $0 |
| MARK BRAZIL | BOARD EXECUTIVE COMMITTEE Trustee or director | 1 | $0 |
| TAIWO JAIYEABA | EX OFFICIO Trustee or director | 1 | $0 |
| DANNY GATLING | BOARD MEMBER Trustee or director | 1 | $0 |
| GINA HICKS | BOARD MEMBER Trustee or director | 1 | $0 |
| DAMION MOORE | BOARD MEMBER Trustee or director | 1 | $0 |
| LONNIE COCKERHAM | BOARD MEMBER Trustee or director | 1 | $0 |
| MELISSA GREER | BOARD MEMBER Trustee or director | 1 | $0 |
| SERAJ PATEL | BOARD MEMBER Trustee or director | 1 | $0 |
| CHRIS WALDECK | BOARD MEMBER Trustee or director | 1 | $0 |
| SEAN REAVES | BOARD MEMBER Trustee or director | 1 | $0 |
| KRISTINA FULLER | BOARD MEMBER Trustee or director | 1 | $0 |
| STU NICHOLS | BOARD MEMBER Trustee or director | 1 | $0 |
| KIMBERLY OSBOURNE | BOARD MEMBER Trustee or director | 1 | $0 |
| LORI POAG | BOARD MEMBER Trustee or director | 1 | $0 |
| LEIGH WILLIAMS | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 24 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ZACK MATHENY | PRESIDENT & CEO Trustee or director, Officer | 40 | $188,956 |
| JOY ROSS | CFO Officer | 36 | $73,252 |
| ANDY ZIMMERMAN | BOARD CHAIRMAN Trustee or director, Officer | 1 | $0 |
| TRACEY MYERS | BOARD PAST CHAIR Trustee or director, Officer | 1 | $0 |
| ADRIAN SMITH | BOARD TREASURER Trustee or director, Officer | 1 | $0 |
| MARK PRINCE | BOARD EXECUTIVE COMMITTEE Trustee or director | 1 | $0 |
| MARSH PRAUSE | BOARD EXECUTIVE COMMITTEE Trustee or director | 1 | $0 |
| MARK BRAZIL | BOARD EXECUTIVE COMMITTEE Trustee or director | 1 | $0 |
| TAIWO JAIYEABA | EX OFFICIO Trustee or director | 1 | $0 |
| DANNY GATLING | BOARD MEMBER Trustee or director | 1 | $0 |
| GINA HICKS | BOARD MEMBER Trustee or director | 1 | $0 |
| DAMION MOORE | BOARD MEMBER Trustee or director | 1 | $0 |
| LONNIE COCKERHAM | BOARD MEMBER Trustee or director | 1 | $0 |
| MELISSA GREER | BOARD MEMBER Trustee or director | 1 | $0 |
| SERAJ PATEL | BOARD MEMBER Trustee or director | 1 | $0 |
| CHRIS WALDECK | BOARD MEMBER Trustee or director | 1 | $0 |
| SEAN REAVES | BOARD MEMBER Trustee or director | 1 | $0 |
| KRISTINA FULLER | BOARD MEMBER Trustee or director | 1 | $0 |
| STU NICHOLS | BOARD MEMBER Trustee or director | 1 | $0 |
| KIMBERLY OSBOURNE | BOARD MEMBER Trustee or director | 1 | $0 |
| LORI POAG | BOARD MEMBER Trustee or director | 1 | $0 |
| LEIGH WILLIAMS | BOARD MEMBER Trustee or director | 1 | $0 |
| SKIP ALSTON | BOARD MEMBER Trustee or director | 1 | $0 |
| MICHAEL HALFORD | BOARD MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 532 S ELM ST, GREENSBORO, NC 27406-1326
- In care of
- % ZACK MATHENY
- Principal officer (990 for 2024)
- STUART J NICHOLS, 532 SOUTH ELM STREET, GREENSBORO, NC 27406
- Signed the 990
- STUART J NICHOLS, BOARD CHAIR
- Phone
- (336) 379-0060
- Website
- DOWNTOWNGREENSBORO.ORG
- Return prepared by
- LEEPER KEAN AND RUMLEY LLP
Mission
PROMOTE AND STIMULATE NEW INVESTMENT, INTEREST AND ECONOMIC DEVELOPMENT IN THE CENTER CITY AREA OF GREENSBORO, NORTH CAROLINA.
Program accomplishments
- DOWNTOWN MUNICIPAL SERVICE DISTRICT (DMSD) FUNDS PROJECT TO PROVIDE FUNDS LEVIED AND COLLECTED BY THE CITY FROM AD VALOREM PROPERTY TAXES AND SALES TAXES IN THE DMSD AS AUTHORIZED BY NCGS 160A-536(D)TO DGI TO PERFORM, PROMOTE, AND DEVELOP SERVICES, FACILITIES, FUNCTIONS, AND PROMOTIONAL AND DEVELOPMENTAL ACTIVITIES IN THE DMSD. FUNDS ARE USED TO POSITION THE DOWNTOWN BUSINESS IMPROVEMENT DISTRICT AS AN ATTRACTIVE, VIBRANT DESTINATION FOR THOSE WHO WORK, PLAY AND LIVE HERE THROUGH PUBLIC SPACE MANAGEMENT, ECONOMIC DEVELOPMENT INITIATIVES, MARKETING SERVICES, SPECIAL EVENTS AND ADVOCACY ACTIVITIES.
- ECONOMIC SERVICES PROJECT - TO PROVIDE FOR THE REVITALIZATION AND ECONOMIC DEVELOPMENT OF DOWNTOWN GREENSBORO. SERVICES INCLUDE MARKETING OF THE DOWNTOWN AREA, ECONOMIC DEVELOPMENT PROGRAMS, PROGRAM MANAGEMENT AND IMPLEMENTATION AS WELL AS PROVIDING LONG TERM VISION DEVELOPMENT AND PLANNING RECOMMENDATIONS FOR THE DOWNTOWN AREA.
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
- 56-2011549
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1997
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,555,665
- Income (IRS master file)
- $2,307,996
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $2,307,996 | $2,510,395 | $1,555,665 | IRS |
| 990 | June 2024 | $2,143,224 | $2,010,876 | $1,721,189 | IRS |
| 990 | June 2023 | $2,344,155 | $2,283,486 | $1,610,961 | IRS |
| 990 | June 2022 | $1,929,059 | $1,881,707 | $1,475,493 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | 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 56-2011549).
Questions about DOWNTOWN GREENSBORO INC
- What is the EIN of DOWNTOWN GREENSBORO INC?
- The employer identification number (EIN) of DOWNTOWN GREENSBORO INC is 56-2011549.
- Is DOWNTOWN GREENSBORO INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1997.
- Are donations to DOWNTOWN GREENSBORO INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does DOWNTOWN GREENSBORO 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 GREENSBORO 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 GREENSBORO 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 GREENSBORO INC?
- The 990 for the year ended June 30, 2025 names STUART J NICHOLS.
- Who are the officers and directors of DOWNTOWN GREENSBORO INC?
- The 990 for the year ended June 30, 2025 lists 17 people; 2 received compensation from the organization, the highest $281,336 (ZACK MATHENY, FORMER PRESIDENT & CEO).
- How much revenue does DOWNTOWN GREENSBORO INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $2,307,996, expenses of $2,510,395 and total assets of $1,555,665 at year end.
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