DISCOVER DOWNTOWN MIDDLESBORO INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

DAVID WHITLOCK

Tax Period

2021-01-01 to 2021-12-31

DISCOVER DOWNTOWN MIDDLESBORO INC, founded in 2006, is a small nonprofit that reported $323K in total revenue in fiscal year 2021. Revenue surged 248% from the prior year, signaling strong growth momentum. The organization ran a surplus of $59K, a strong 18% operating margin.

Mission

REVITALIZATION OF DOWNTOWN MIDDLESBORO, IMPROVING PHYSICAL APPEARANCE OF DOWNTOWN WHILE MAINTAINING ITS HISTORIC INTEGRITY; RETAIN EXISTING BUSINESSES & ATTRACT NEW ONES. MAKE DOWNTOWN THE CENTER OF ECONOMIC & SOCIAL LIFE OF THE TRI-STATE AREA.

Program Service Accomplishments

Program 1

Expenses: $181,328

PLACEMAKING: IMPROVE PHYSICAL APPEARANCE OF DOWNTOWN WHILE MAINTAINING HISTORIC INTEGRITY AND RETAIN EXISTING BUSINESSES PLUS ATTRACT NEW ONES. PROVIDE TECHNICAL ASSISTANCE ON DESIGN, FINANCING AND TAX CREDITS TO OBTAIN SUPPORT FOR DOWNTOWN IMPROVEMENTS. MAKE DOWNTOWN THE CENTER OF ECONOMIC & SOCIAL LIFE OF THE TRI STATE AREA. CREATE A TRAIL SYSTEM FOR RESIDENTS TO WALK AND BIKE CONNECTING THE DOWNTOWN AREA WITH THE ADJOINING CUMBERLAND GAP NATIONAL PARK.

Program 2

Expenses: $42,608

FESTIVALS AND EVENTS WAS HIGHLIGHTED BY THE LEVITT AMP MUSIC SERIES BRINGING THE JOY OF FREE, LIVE MUSIC TO PEOPLE OF ALL AGES AND BACKGROUNDS. CONCERTS ARE PERFORMED IN MIDDLESBOROS POP-UP PARK -...

FESTIVALS AND EVENTS WAS HIGHLIGHTED BY THE LEVITT AMP MUSIC SERIES BRINGING THE JOY OF FREE, LIVE MUSIC TO PEOPLE OF ALL AGES AND BACKGROUNDS. CONCERTS ARE PERFORMED IN MIDDLESBOROS POP-UP PARK - DOWNTOWN MIDDLESBOROS VIBRANT GREEN SPACE THAT WAS FORMERLY A VACANT GRAVEL LOT. IT AUGMENTS THE CITYS COMMUNITY DRIVEN REVITALIZATION OF ITS ECONOMICALLY CHALLENGED DOWNTOWN, ENCOURAGING FURTHER COMMUNITY INVESTMENT AND PROMOTING MIDDLESBORO AS A CULTURAL DESTINATION.

Program 3

ENTREPREUNERSHIP - 4 NEW BUSINESSES OPENED IN THE DOWNTOWN AREA WITH THE DIRECTION AND TRAINING FROM DDM. THE PALACE HGHLIGHTED THE WORK OF OVER 100 ARTISANS AND ENTREPREUNERS. FROM THERE WE SOLD...

ENTREPREUNERSHIP - 4 NEW BUSINESSES OPENED IN THE DOWNTOWN AREA WITH THE DIRECTION AND TRAINING FROM DDM. THE PALACE HGHLIGHTED THE WORK OF OVER 100 ARTISANS AND ENTREPREUNERS. FROM THERE WE SOLD THEIR WORK AND TRAINED PARTICIPANTS TO GROW THEIR BUSINESS.ONLINE SALES TECHNIQUES WERE ADDED TO THE TRAINING IN 2016

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $323,355

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $323,355

Expense Breakdown

Grants Paid $0

Salaries & Benefits $35,740

Fundraising Expenses $0

Program Expenses $223,936

Other Expenses $228,460

TOTAL EXPENSES $264,200

Year-over-Year Comparison

	2021	2020	Change
Revenue	$323,355	$92,906	+2.5%
Expenses	$264,200	$94,674	+1.8%
Net Income	$59,155	$-1,768	-34.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

130

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEVI TURNER	DIRECTOR	1.00	Director	$0	$0	$0
BEN HOE	DIRECTOR	1.00	Director	$0	$0	$0
JOAN MILLER	DIRECTOR	1.00	Director	$0	$0	$0
MURRY MCGLONE	DIRECTOR	1.00	Director	$0	$0	$0
MALERIE SHOFFNER	DIRECTOR	1.00	Director	$0	$0	$0
LAURA CAWOOD	TREASURER	5.00	Officer Director	$0	$0	$0
SUMMER MARTIN	SECRETARY	2.00	Officer Director	$0	$0	$0
DAVID WHITLOCK	PRESIDENT	5.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2021	$323,355	$264,200	$183,774	$59,155
2020	$92,906	$141,693	$195,841	$-48,787
2019	$275,539	$175,436	$244,628	$100,103
2018	$141,299	$114,786	$143,427	$26,513