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Swiss Bear INC FY2022 filing

Tax-deductible

New Bern, NC501(c)(3)Community Development EIN 56-1255578Revenue $373K in FY2022Latest return filed Jul 10, 2025

On file with the IRSdowntownnewbern.comNew Bern, NCTax-exempt since Mar 1980Publicly supported charity — 170(b)(1)(A)(vi)

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Swiss Bear, INC. Facilitates development of the greater downtown area through leadership and planning that empowers community stakeholders to promote and enhance new bern's unique cultural and natural resources.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $27K a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 11.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$131K
28% of total assets
Looks good: liabilities are 28% of assets; 50% or less.
Pt X · Ln 26
Independent board members
32
of 32 voting members
Looks good: 32 of 32 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$373K
-30% vs prior year
Spent
$421K
To programs
85%
Net assets
$331K
By yearFY2020–FY2024
Revenue
$373K
FY2022▼ -30%
Tap a bar for its year
Revenue by fiscal year
FY2020$373K
FY2021$532K
FY2022$373K
FY2023$387K
FY2024$343K
Expenses
$421K
FY2022▼ -10%
Tap a bar for its year
Expenses by fiscal year
FY2020$225K
FY2021$470K
FY2022$421K
FY2023$433K
FY2024$324K
Net assets
$331K
FY2022▼ -13%
Tap a bar for its year
Net assets by fiscal year
FY2020$313K
FY2021$378K
FY2022$331K
FY2023$285K
FY2024$305K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1980.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $357K Management & general 15% · $64K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

32 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
John Haroldson
Vice-Chair
$0Pt VII · Sec A
Tharesa Lee
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom Braaten
At-Large Dir
$0Pt VII · Sec A
Gary Curry
At-Large Dir
$0Pt VII · Sec A
Chris McCutcheon
At-Large Dir
$0Pt VII · Sec A
Jamara Wallace
At-Large Dir
$0Pt VII · Sec A
See Swiss Bear INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowers community stakeholders to develop downtown through leadership and planning.

Questions for Swiss Bear INC

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1 program · $357K · in their own filed words · FY2022
01

Special events and programs to assist in the promotion of the greater downtown business district

$357Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
North Carolina Community Foundation INCFY2024$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 2 grants · $16K · 2020–2021
Unitemized GrantFY2021$8,604
Unitemized GrantFY2020$7,665

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$373K
Ln 12
Fees for servicesLn 2g$281K
Gifts and grantsLn 1h$92K
Investment incomeLn 3$311
Money outPt IX
$421K
Ln 25
Programscol B$357K
Managementcol C$64K
Owns and owesPt X
$331K
net assets · Ln 32
Cash and savingsLn 1–2$390K
Total assetsLn 16$462K
LiabilitiesLn 26$131K
PeoplePt VI, VII
32
listed · VII A
PaidVII A0
Voting boardVI 1a32
IndependentVI 1b32
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$92K
Government grantsLn 1e$19K
Fees for servicesLn 2g$281K
Investment incomeLn 3$311
Total revenueLn 12$373K
Assets in detailPt X, end of year
CashLn 1$191K
SavingsLn 2$199K
Cash and savings togetherLn 1–2$390K
Accounts receivableLn 4$12K
Notes and loans receivableLn 7$59K
InvestmentsLn 11–13$1K
Total assetsLn 16$462K
LiabilitiesLn 26$131K
Net assetsLn 32$331K
OperationsPt I, VI
EmployeesI 55
VolunteersI 666
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$336K$390K
InvestmentsLn 11–13$1K$1K
Total assetsLn 16$498K$462K
LiabilitiesLn 26$120K$131K
Net assetsLn 32$378K$331K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3K$3K
Grants to domestic individualsLn 2$635$635
Other salaries and wagesLn 7$112K$67K$45K
Payroll taxesLn 10$9K$5K$3K
Accounting feesLn 11c$959$959
Investment management feesLn 11f$415$415
Office expensesLn 13$1K$246$768
Information technologyLn 14$3K$3K
OccupancyLn 16$12K$7K$5K
Conferences, conventions and meetingsLn 19$699$699
InsuranceLn 23$2K$1K$921
Other expenses (24a–d)Ln 24$271K$271K$150
All other expensesLn 24e$6K$362$5K
Total functional expensesLn 25$421K$357K$64K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Jul 10, 2025 $343K$324K$20K$305K 990 PDF
FY2023Filed with the IRS Nov 26, 2024 $387K$433K−$46K$285K 990 PDF
FY2022 ViewingFiled with the IRS Nov 15, 2023 $373K$421K−$48K$331K 990 PDF
FY2021Filed with the IRS Nov 10, 2022 $532K$470K$63K$378K 990 PDF
FY2020Filed with the IRS Aug 11, 2021 $373K$225K$148K$313K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $373,445 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $116,430$91,800
I-9 Program service revenuePrior year $415,922$281,334
I-10 Investment incomePrior year $64$311
I-11 Other revenuePrior year $49$0
I-12 Total revenuePrior year $532,465$373,445
I-13 Grants and similar amounts paidPrior year $8,604$3,692
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $106,387$120,783
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $354,866$296,769
I-18 Total expensesPrior year $469,857$421,244
I-19 Revenue less expensesPrior year $62,608−$47,799
Part VI · Governance 32 of 32 board members independent, 1 to look at
VI-1a Voting members of the governing body32
VI-1b Independent voting members32
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $373,445 across 6 lines filed
VIII-1e Government grants$18,700
VIII-1f All other contributions, gifts and grants$73,100
VIII-1h Total contributions, gifts and grants$91,800
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $281,334$281,334
VIII-3 Investment incomeRelated to mission $200 · Excluded from tax $111$311
VIII-12 Total revenueRelated to mission $281,534 · Excluded from tax $111$373,445
Part IX · Statement of functional expenses $421,244 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $3,057$3,057
IX-2 Grants to domestic individualsPrograms $635$635
IX-7 Other salaries and wagesPrograms $67,320 · Management $44,880$112,200
IX-10 Payroll taxesPrograms $5,150 · Management $3,433$8,583
IX-11c Accounting feesManagement $959$959
IX-11f Investment management feesPrograms $415$415
IX-13 Office expensesPrograms $246 · Management $768$1,014
IX-14 Information technologyManagement $2,679$2,679
IX-16 OccupancyPrograms $6,840 · Management $4,851$11,691
IX-19 Conferences, conventions and meetingsPrograms $699$699
IX-23 InsurancePrograms $1,381 · Management $921$2,302
IX-24 Other expenses (24a–d)Programs $271,162 · Management $150$271,312
IX-24e All other expensesPrograms $362 · Management $5,336$5,698
IX-25 Total functional expensesPrograms $357,267 · Management $63,977 · Fundraising $0$421,244
Part X · Balance sheet $462,100 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $236,926$190,648
X-2 Savings and temporary cash investmentsStart of year $98,983$198,866
X-4 Accounts receivableStart of year $7,500$12,000
X-7 Notes and loans receivableStart of year $153,537$59,461
X-11 Publicly traded securitiesStart of year $1,125$1,125
X-16 Total assetsStart of year $498,071$462,100
X-17 Accounts payable and accrued expensesStart of year $3,244$3,322
X-19 Deferred revenueStart of year $16,550$15,000
X-25 Other liabilitiesStart of year $81,170$113,170
X-26 Total liabilitiesStart of year $119,664$131,492
X-27 Net assets without donor restrictionsStart of year $264,839$138,052
X-28 Net assets with donor restrictionsStart of year $113,568$192,556
X-32 Total net assets or fund balancesStart of year $378,407$330,608
X-33 Total liabilities and net assetsStart of year $498,071$462,100
Part XI · Reconciliation of net assets $330,608 net assets at year end
XI-1 Total revenue$373,445
XI-2 Total expenses$421,244
XI-3 Revenue less expenses−$47,799
XI-4 Net assets at start of year$378,407
XI-10 Net assets at end of year$330,608

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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