Elizabeth City Downtown Inc A Revitalization Corporation (EIN 561621231) - Form 990 Financial Analysis & Trantor Score

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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

1989

Legal Domicile

Principal Officer

Timothy Williams

Phone

2523384104

Tax Period

2024-07-01 to 2025-06-30

Elizabeth City Downtown Inc A Revitalization Corporation, founded in 1989, is a small nonprofit in the Arts, Culture & Humanities sector that reported $374K in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year. Expenses of $348K left a modest 7% surplus.

Mission

To serve the entire community by acting as a catalyst for the revitalization of downtown Elizabeth City and the waterfront while preserving its historical and architectural character.

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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 (2024)

Revenue Breakdown

Contributions & Grants $300,020

Program Service Revenue $0

Investment Income $21,059

Other Revenue $52,518

TOTAL REVENUE $373,597

Expense Breakdown

Grants Paid $4,500

Salaries & Benefits $17,209

Fundraising Expenses $0

Program Expenses $327,913

Other Expenses $326,135

TOTAL EXPENSES $347,844

Year-over-Year Comparison

	2024	2023	Change
Revenue	$373,597	$393,878	-0.1%
Expenses	$347,844	$172,906	+1.0%
Net Income	$25,753	$220,972	-0.9%

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

N/A

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
Timothy Williams	Chairman	2.00	Officer Director	$0	$0	$0
Jeff Mitchell	Vice Chairman	2.00	Officer Director	$0	$0	$0
Heather Sawyer	Secretary	2.00	Officer Director	$0	$0	$0
Charlene Wade	Treasurer	2.00	Officer Director	$0	$0	$0
Johnson Biggs	Director	1.00	Director	$0	$0	$0
Sean Lavin	Director	1.00	Director	$0	$0	$0
Judy Seidel	Director	1.00	Director	$0	$0	$0
Shannon Baylor-Henderson	Director	1.00	Director	$0	$0	$0
Bren O'Sullivan	Director	1.00	Director	$0	$0	$0
C Everett Thompson	Director	1.00	Director	$0	$0	$0
Cindy Williams	Director	2.00	Director	$0	$0	$0
George Grills	Director	1.00	Director	$0	$0	$0
Edward Fearing	Director	1.00	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	$373,597	$347,844	$790,945	$25,753
2024	$393,878	$172,906	$825,178	$220,972
2023	$156,487	$90,252	$602,691	$66,235
2022	$253,055	$184,460	$498,445	$68,595
2021	$269,542	$70,059	$419,469	$199,483
2020	$167,740	$192,194	$249,492	$-24,454

Elizabeth City Downtown Inc A Revitalization Corporation