DOWNTOWN GREENSBORO 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

1996

Legal Domicile

Principal Officer

STUART J NICHOLS

Phone

3363790060

Tax Period

2024-07-01 to 2025-06-30

DOWNTOWN GREENSBORO INC, founded in 1996, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2024.

Mission

PROMOTE AND STIMULATE NEW INVESTMENT, INTEREST AND ECONOMIC DEVELOPMENT IN THE CENTER CITY AREA OF GREENSBORO, NORTH CAROLINA.

Program Service Accomplishments

Program 1

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...

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.

Program 2

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.

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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 $816,667

Program Service Revenue $1,454,345

Investment Income $36,984

Other Revenue $0

TOTAL REVENUE $2,307,996

Expense Breakdown

Grants Paid $0

Salaries & Benefits $781,187

Fundraising Expenses $0

Other Expenses $1,729,208

TOTAL EXPENSES $2,510,395

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,307,996	$2,143,224	+0.1%
Expenses	$2,510,395	$2,010,876	+0.2%
Net Income	$-202,399	$132,348	-2.5%

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

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

$366,148

Total Directors

$281,336

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ZACK MATHENY	FORMER PRESIDENT & CEO	40.00	Officer Director	$281,336	$0	$281,336
STU NICHOLS	BOARD CHAIRMAN	1.00	Officer Director	$0	$0	$0
SERAJ PATEL	BOARD TREASURER	1.00	Officer Director	$0	$0	$0
CHRIS WALDECK	BOARD SECRETARY	1.00	Officer Director	$0	$0	$0
MARK PRINCE	BOARD EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
ARTHUR SAMET	BOARD EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
GINA HICKS	BOARD EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
TREY DAVIS	EX OFFICIO	1.00	Director	$0	$0	$0
KRISTINA FULLER	BOARD MEMBER	1.00	Director	$0	$0	$0
LORI POAG	BOARD MEMBER	1.00	Director	$0	$0	$0
CRAIG CARLOCK	BOARD MEMBER	1.00	Director	$0	$0	$0
TIFFANY JACOBS	BOARD MEMBER	1.00	Director	$0	$0	$0
DAN EDER	BOARD MEMBER	1.00	Director	$0	$0	$0
DEREK CARTE	BOARD MEMBER	1.00	Director	$0	$0	$0
VIRGINIA FREYALDENHOVEN	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN SASSER	BOARD MEMBER	1.00	Director	$0	$0	$0
JOY ROSS	CFO	36.00	Officer	$84,812	$0	$84,812

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	$2,307,996	$2,510,395	$1,555,665	$-202,399
2024	No data	No data	No data	No data
2023	$2,344,155	$2,283,486	$1,610,961	$60,669
2023	$2,344,155	$2,283,486	$1,610,961	$60,669
2022	$1,929,059	$1,881,707	$1,475,493	$47,352
2021	$1,599,630	$1,529,951	$1,416,640	$69,679
2020	$1,895,606	$1,464,904	$1,387,039	$430,702
2019	$1,458,381	$1,308,980	$983,257	$149,401
2018	$1,341,000	$1,010,392	$848,397	$330,608