Nonprofit · EIN 56-2039492
EAST MARKET STREET DEVELOPMENT CORPORATION
Tax-exempt · GREENSBORO, NC 27401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $615,006 | $664,869 | -$49,863 | $2,518,582 | $1,866,909 | $651,673 |
| December 31, 2024 | 990 | $1,129,762 | $564,417 | $565,345 | $2,636,560 | $1,935,024 | $701,536 |
| December 31, 2023 | 990 | $598,535 | $478,458 | $120,077 | $2,104,445 | $1,968,254 | $136,191 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $228,666
- of which government grants
- $50,000
- Program service revenue
- $352,877
- Investment income
- $28,465
- Net gain from sales of assets
- $13,072
- Other revenue
- $4,998
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $100,000
- Other salaries and wages
- $111,805
- Salaries, compensation and benefits (total)
- $234,875
- Professional fundraising fees
- $25,572
- Accounting fees
- $14,877
- Occupancy
- $129,898
- Depreciation
- $53,992
- Program services (functional)
- $576,941
- Management and general (functional)
- $45,918
- Fundraising (functional)
- $42,010
Balance sheet and other
- Total assets, start of year
- $2,636,560
- Total assets, end of year
- $2,518,582
- Total liabilities, end of year
- $1,866,909
- Net assets, end of year
- $651,673
- Land, buildings and equipment
- $1,721,561
- Net assets without donor restrictions
- $88,035
- Net assets with donor restrictions
- $563,638
- Gross unrelated business income
- $233,901
- Gross receipts
- $631,934
- Employees
- 3
- Volunteers
- 0
- Year formed
- 1997
- 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 December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MACARTHUR SIMS | EXECUTIVE DIRECTOR Trustee or director, Officer | 40 | $100,000 |
| ANDRENA COLEMAN | CHAIRMAN Trustee or director | 0.5 | $0 |
| CARL W BROWER JR | VICE CHAIRMAN Trustee or director | 0.5 | $0 |
| LADANIEL GATLING II | TREASURER Trustee or director | 0.25 | $0 |
| CHARLENE Y ARMSTRONG | SECRETARY Trustee or director | 0.25 | $0 |
| SHARON HIGHTOWER | DIRECTOR Trustee or director | 0.25 | $0 |
| G MARK PRINCE | DIRECTOR Trustee or director | 0.25 | $0 |
| J BRENT CHRISTENSEN | DIRECTOR Trustee or director | 0.25 | $0 |
| TIMOTHY MINOR | DIRECTOR Trustee or director | 0.25 | $0 |
| FRANKIE JONES | DIRECTOR Trustee or director | 0.25 | $0 |
| GOLDIE WELLS | DIRECTOR Trustee or director | 0.25 | $0 |
| ERNESTINE SURGEON | DIRECTOR Trustee or director | 0.25 | $0 |
| RODVEGAS INGRAM | DIRECTOR Trustee or director | 0.25 | $0 |
| PHANALPHIE RHUE | DIRECTOR Trustee or director | 0.25 | $0 |
| JAY JUNG | DIRECTOR Trustee or director | 0.25 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BETTY WATSON | DIRECTOR Trustee or director | 0.25 | $0 |
990 for the year ended December 31, 2024: 16 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MACARTHUR SIMS | EXECUTIVE DIRECTOR Trustee or director, Officer | 40 | $100,000 |
| ANDRENA COLEMAN | CHAIRMAN Trustee or director | 0.5 | $0 |
| CARL W BROWER JR | VICE CHAIRMAN Trustee or director | 0.5 | $0 |
| LADANIEL GATLING II | TREASURER Trustee or director | 0.25 | $0 |
| CHARLENE Y ARMSTRONG | SECRETARY Trustee or director | 0.25 | $0 |
| SHARON HIGHTOWER | DIRECTOR Trustee or director | 0.25 | $0 |
| G MARK PRINCE | DIRECTOR Trustee or director | 0.25 | $0 |
| J BRENT CHRISTENSEN | DIRECTOR Trustee or director | 0.25 | $0 |
| TIMOTHY MINOR | DIRECTOR Trustee or director | 0.25 | $0 |
| FRANKIE JONES | DIRECTOR Trustee or director | 0.25 | $0 |
| GOLDIE WELLS | DIRECTOR Trustee or director | 0.25 | $0 |
| ERNESTINE SURGEON | DIRECTOR Trustee or director | 0.25 | $0 |
| RODVEGAS INGRAM | DIRECTOR Trustee or director | 0.25 | $0 |
| PHANALPHIE RHUE | DIRECTOR Trustee or director | 0.25 | $0 |
| JAY JUNG | DIRECTOR Trustee or director | 0.25 | $0 |
| BETTY WATSON | DIRECTOR Trustee or director | 0.25 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MACARTHUR SIMS | EXECUTIVE DIRECTOR Trustee or director, Officer | 40 | $89,000 |
| DOROTHY VANNOY | VICE CHAIRMAN Trustee or director, Officer | 0.5 | $0 |
| CARL W BROWER JR | INTERIM CHAIR Trustee or director, Officer | 0.5 | $0 |
| CHARLENE Y ARMSTRONG | SECRETARY Trustee or director, Officer | 0.25 | $0 |
| SHARON HIGHTOWER | DIRECTOR Trustee or director | 0.25 | $0 |
| ANDRENA COLEMAN | TREASURER Trustee or director, Officer | 0.25 | $0 |
| G MARK PRINCE | DIRECTOR Trustee or director | 0.25 | $0 |
| J BRENT CHRISTENSEN | DIRECTOR Trustee or director | 0.25 | $0 |
| LADANIEL GATLING II | DIRECTOR Trustee or director | 0.25 | $0 |
| TIMOTHY MINOR | DIRECTOR Trustee or director | 0.25 | $0 |
| FRANKIE JONES | DIRECTOR Trustee or director | 0.25 | $0 |
| GOLDIE WELLS | DIRECTOR Trustee or director | 0.25 | $0 |
| ERNESTINE SURGEON | DIRECTOR Trustee or director | 0.25 | $0 |
| RODVEGAS INGRAM | DIRECTOR Trustee or director | 0.25 | $0 |
| PHANALPHIE RHUE | DIRECTOR Trustee or director | 0.25 | $0 |
Address and contacts
- Address (IRS master file)
- 601 E MARKET ST STE B, GREENSBORO, NC 27401-6055
- Principal officer (990 for 2025)
- MACARTHUR SIMS, 601-B EAST MARKET STREET, GREENSBORO, NC 27401
- Signed the 990
- MACARTHUR SIMS, EXECUTIVE DIRECTOR
- Phone
- (336) 275-1101
- Return prepared by
- DUNCAN ASHE PA
Mission
EMSDC (D/B/A EAST GREENSBORO NOW) IS A NONPROFIT COMMUNITY DEVELOPMENT CORPORATION DEDICATED TO ADVANCING ECONOMIC AND COMMUNITY DEVELOPMENT IN EAST GREENSBORO, NORTH CAROLINA. AS THE AREA'S LEAD ECONOMIC AND COMMUNITY DEVELOPMENT ORGANIZATION, EAST GREENSBORO NOW WORKS TO EXPAND ECONOMIC OPPORTUNITY AND IMPROVE RESIDENTS' QUALITY OF LIFE THROUGH EQUITABLE REVITALIZATION INITIATIVES. ITS PROGRAMS INCLUDE AFFORDABLE HOUSING DEVELOPMENT, ENTREPRENEURSHIP AND SMALL BUSINESS TRAINING, MINORITY BUSINESS DEVELOPMENT, HEALTHY NEIGHBORHOOD INITIATIVES, AND TARGETED COMMERCIAL INVESTMENT IN HISTORICALLY UNDER-RESOURCED COMMUNITIES. BY PARTNERING WITH RESIDENTS, BUSINESSES, AND COMMUNITY STAKEHOLDERS, EAST GREENSBORO NOW STRENGTHENS NEIGHBORHOODS, SUPPORTS LOCAL ENTREPRENEURS, ATTRACTS INVESTMENT, AND PROMOTES SUSTAINABLE ECONOMIC GROWTH THAT BENEFITS EAST GREENSBORO AND ITS RESIDENTS.
Program accomplishments
- DEVELOP AND MARKET IDENTIFIED COMMERCIAL SITES TO ATTRACT NEEDED BUSINESSES IN THE CORRIDOR; DEVELOP SYSTEMS AND PROCESSES THAT EFFECTIVELY PROVIDE APPROPRIATE REVITALIZATION PROGRAMS FOR EAST GREENSBORO.Expenses $325,279 · revenue $101,623
- MAINTENANCE AND DEVELOPMENT/UPKEEP OF OWNED PROPERTIES IN TARGET DEVELOPMENT AREAS.Expenses $251,662 · revenue $252,771
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-2039492
- 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
- 1998
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $2,518,582
- Income (IRS master file)
- $631,934
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $615,006 | $664,869 | $2,518,582 | XML |
| 990-T | December 2025 | – | – | – | IRS |
| 990 | December 2024 | $1,129,762 | $564,417 | $2,636,560 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $598,535 | $478,458 | $2,104,445 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $366,906 | $484,635 | $2,028,344 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 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 56-2039492).
Questions about EAST MARKET STREET DEVELOPMENT CORPORATION
- What is the EIN of EAST MARKET STREET DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of EAST MARKET STREET DEVELOPMENT CORPORATION is 56-2039492.
- Is EAST MARKET STREET DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to EAST MARKET STREET DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does EAST MARKET STREET DEVELOPMENT 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 EAST MARKET STREET DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did EAST MARKET STREET DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of EAST MARKET STREET DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 names MACARTHUR SIMS.
- Who are the officers and directors of EAST MARKET STREET DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 16 people; 1 received compensation from the organization, the highest $100,000 (MACARTHUR SIMS, EXECUTIVE DIRECTOR).
- How much revenue does EAST MARKET STREET DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $615,006, expenses of $664,869 and total assets of $2,518,582 at year end.
Other nonprofits in GREENSBORO
- PIEDMONT TRIAD PARTNERSHIP EIN 56-1750279 · last filed 990 for 2025
- UNIFOUR ONE EIN 03-0437078 · last filed 990 for 2024
- GREENSBORO-RANDOLPH MEGASITE FOUNDATION INC EIN 47-3163427 · last filed 990-PF for 2025
- NUSSBAUM CENTER FOR ENTREPRENEURSHIP INC EIN 56-1577495 · last filed 990 for 2025
- ACTION GREENSBORO EIN 56-2251250 · last filed 990 for 2025
- SELFLESS FOUNDATION INC EIN 47-5442991 · last filed 990 for 2024
- GREENSBORO DOWNTOWN PARKS INC EIN 47-4953789 · last filed 990 for 2025
- LIFE AND BUILDING SAFETY COALITION INC EIN 83-3642372 · last filed 990 for 2024
All nonprofits in GREENSBORO · North Carolina · Community improvement and capacity building