DOWNTOWN BELMONT DEVELOPMENT ASSOC

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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

2015

Legal Domicile

Principal Officer

ELIZABETH SIMCOX

Phone

7049012082

Tax Period

2023-07-01 to 2024-06-30

DOWNTOWN BELMONT DEVELOPMENT ASSOC, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $262K in total revenue in fiscal year 2023. Revenue surged 60% from the prior year, signaling strong growth momentum.

Mission

TO FURTHER ADVANCE THE ECONOMIC, AESTHETIC AND CULTURAL ENVIRONMENT OF HISTORIC DOWNTOWN BELMONT, NC.

Program Service Accomplishments

Program 1

Expenses: $184,596

SUMMER CONCERT SERIES INCLUDING FRIDAY NIGHT LIVE AND SOUNDTRACKS. DOWNTOWN BELMONT IS AMPLIFIED WITH LIVE MUSIC EVERY OTHER FRIDAY NIGHT STARTING IN LATE APRIL THROUGH JULY 4TH. THE DBDA HOLDS THESE CONCERTS FOR THE COMMUNITY AND BRINGS IN A DIVERSE LINE UP OF MUSIC EVERY YEAR. THESE SUMMER CONCERTS ARE EXTREMELY POPULAR, KID FRIENDLY, AND DRAW THOUSANDS OF SPECTATORS INTO DOWNTOWN. IN ADDITION TO THE FRIDAY NIGHT CONCERTS, DBDA HAD AN ADDITIONAL CONCERT FEATURING THE MARSHALL TUCKER BAND.

Program 2

Expenses: $14,637

GRANTS TO LOCAL BUSINESSES

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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 (2023)

Revenue Breakdown

Contributions & Grants $64,350

Program Service Revenue $197,647

Investment Income $0

Other Revenue $0

TOTAL REVENUE $261,997

Expense Breakdown

Grants Paid $14,637

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $257,036

Other Expenses $251,388

TOTAL EXPENSES $266,025

Year-over-Year Comparison

	2023	2022	Change
Revenue	$261,997	$164,176	+0.6%
Expenses	$266,025	$165,918	+0.6%
Net Income	$-4,028	$-1,742	+1.3%

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

N/A

Volunteers

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
AMY BOSSARD	DESIGN COMMI	2.00	Director	$0	$0	$0
JENNIFER CHURCH	CHAIR	2.00	Officer Director	$0	$0	$0
KELLY GLANTZ	ORGANIZATION	2.00	Director	$0	$0	$0
JIM HEFFERAN	APPT. COUNCI	2.00	Director	$0	$0	$0
JOE JORDAN	VICE CHAIR	2.00	Officer Director	$0	$0	$0
KEVIN KROUSE	SECRETARY	2.00	Officer Director	$0	$0	$0
CASSIDY LACKEY	COMMUNITY DE	40.00	Director	$0	$0	$0
SUSAN MARTELLO	BOARD MEMBER	2.00	Director	$0	$0	$0
SETH SHERRIN	ORGANIZATION	2.00	Director	$0	$0	$0
ELIZABETH SIMCOX	TREASURER	2.00	Officer Director	$0	$0	$0
ALEX SZUCS	BOARD MEMBER	2.00	Director	$0	$0	$0
AL WALL	EVC CO- CHAI	2.00	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
2025	No data	No data	No data	No data
2024	$261,997	$266,025	$47,130	$-4,028
2023	$164,176	$165,918	$83,566	$-1,742
2022	$257,249	$222,676	$53,665	$34,573
2021	$46,428	$31,850	$40,734	$14,578