Spruce Pine Main Street INC: Nonprofit Profile, Financials & Form 990 (EIN 56-1534889)

Revenue by fiscal year
FY2021	$31K
FY2022	$60K
FY2023	$25K
FY2024	$41K
FY2025	$379K

Expenses by fiscal year
FY2021	$37K
FY2022	$85K
FY2023	$41K
FY2024	$42K
FY2025	$402K

Net assets by fiscal year
FY2021	$373K
FY2022	$349K
FY2023	$333K
FY2024	$332K
FY2025	$309K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1994.

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

Where the money goes

93 cents of each dollar spent went to programs.

93%

Program services 93% · $374K Management & general 1% · $5K Fundraising 6% · $23K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Morgan Wood

Treasurer

$0Pt VII · Sec A

Betsy Biega

Vice President

$0Pt VII · Sec A

Eron Thiele

President

$0Pt VII · Sec A

Jackie Rensink

Secretary

$0Pt VII · Sec A

See Spruce Pine Main Street INC executive salaries →

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Questions the 990 asks

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

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Spruce Pine Main Street INC is a nonprofit based in Spruce Pine, NC, formed in 1986.

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Provided by the organization

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1 program · $374K · in their own filed words · FY2024

01

Beautification and preservation of historical downtown area in order to promote business and tourism

$374Kprogram 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 · FY2025

The Conservation Fund a Nonprofit CorporationFY2025$12K

Total grants receivedfrom 1 funder$12K

Grants paid · 21 grants · $169K · 2024–2024

Los Garcia INC El RancheroFY2024$11,430

The Clinic of Joshua NewtonpacFY2024$11,430

Rentals of Spruce PineFY2024$10,000

Individual RecipientFY2024$10,000

Niven Properties INCFY2024$10,000

Individual RecipientFY2024$10,000

Styles Office Building LLCFY2024$10,000

Individual RecipientFY2024$10,000

Treasures in the PinesFY2024$10,000

Individual RecipientFY2024$10,000

Individual RecipientFY2024$5,964

Niven Properties INCFY2024$5,964

Individual RecipientFY2024$5,964

HaircraftFY2024$5,467

Individual RecipientFY2024$5,467

See all 21 grants →

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$379K

Ln 12

Gifts and grantsLn 1h$378K

Other incomeLn 4–11$727

Money outPt IX

$402K

Ln 25

Programscol B$374K

Managementcol C$5K

Fundraisingcol D$23K

Owns and owesPt X

$309K

net assets · Ln 32

Cash and savingsLn 1–2$50K

Total assetsLn 16$313K

LiabilitiesLn 26$4K

PeoplePt VI, VII

4

listed · VII A

PaidVII A0

Voting boardVI 1a17

IndependentVI 1b17

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$378K

Fundraising eventsLn 1c$9K

Other incomeLn 4–11$727

Total revenueLn 12$379K

Assets in detailPt X, end of year

CashLn 1$50K

Cash and savings togetherLn 1–2$50K

Land, buildings, equipmentLn 10c$263K

Total assetsLn 16$313K

LiabilitiesLn 26$4K

Net assetsLn 32$309K

OperationsPt I, VI

EmployeesI 50

Fiscal year endsHeaderJune

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$63K	$50K
Land, buildings, equipmentLn 10c	$269K	$263K
Total assetsLn 16	$332K	$313K
LiabilitiesLn 26	$0	$4K
Net assetsLn 32	$332K	$309K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$281K	$281K
Accounting feesLn 11c	$2K		$2K
Advertising and promotionLn 12	$1K	$1K
Office expensesLn 13	$4K	$4K
Information technologyLn 14	$3K		$3K
OccupancyLn 16	$4K	$4K
TravelLn 17	$1K	$1K
Depreciation, depletion and amortizationLn 22	$6K	$6K
InsuranceLn 23	$3K	$3K
Other expenses (24a–d)Ln 24	$95K	$72K		$23K
All other expensesLn 24e	$892	$892
Total functional expensesLn 25	$402K	$374K	$5K	$23K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$379K	$402K	−$23K	$309K	990 PDF
FY2024	$41K	$42K	−$2K	$332K	990 PDF
FY2023	$25K	$41K	−$16K	$333K	990 PDF
FY2022	$60K	$85K	−$24K	$349K	990 PDF
FY2021	$31K	$37K	−$6K	$373K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $378,792 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $32,434$378,065

I-9 Program service revenue$0

I-10 Investment income$0

I-11 Other revenuePrior year $8,111$727

I-12 Total revenuePrior year $40,545$378,792

I-13 Grants and similar amounts paid$281,133

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $150$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $42,062$120,383

I-18 Total expensesPrior year $42,212$401,516

I-19 Revenue less expensesPrior year −$1,667−$22,724

Part VI · Governance 17 of 17 board members independent, 1 to look at

VI-1a Voting members of the governing body17

VI-1b Independent voting members17

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $378,792 across 6 lines filed

VIII-1c Fundraising events$8,706

VIII-1f All other contributions, gifts and grants$369,359

VIII-1h Total contributions, gifts and grants$378,065

VIII-8 Net income from fundraising events$0

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $727$727

VIII-12 Total revenueRelated to mission $727 · Unrelated business $0 · Excluded from tax $0$378,792

Part IX · Statement of functional expenses $401,516 across 11 lines filed

IX-1 Grants to domestic organizationsPrograms $281,133$281,133

IX-11c Accounting feesManagement $1,675$1,675

IX-12 Advertising and promotionPrograms $1,268$1,268

IX-13 Office expensesPrograms $3,922$3,922

IX-14 Information technologyManagement $3,198$3,198

IX-16 OccupancyPrograms $4,197$4,197

IX-17 TravelPrograms $1,227$1,227

IX-22 Depreciation, depletion and amortizationPrograms $6,089$6,089

IX-23 InsurancePrograms $3,097$3,097

IX-24 Other expenses (24a–d)Programs $72,032 · Fundraising $22,786$94,818

IX-24e All other expensesPrograms $892$892

IX-25 Total functional expensesPrograms $373,857 · Management $4,873 · Fundraising $22,786$401,516

Part X · Balance sheet $312,587 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $63,046$49,992

X-10c Land, buildings and equipment, netStart of year $268,684$262,595

X-16 Total assetsStart of year $331,730$312,587

X-17 Accounts payable and accrued expenses$3,582

X-26 Total liabilitiesStart of year $0$3,582

X-27 Net assets without donor restrictionsStart of year $331,730$309,005

X-32 Total net assets or fund balancesStart of year $331,730$309,005

X-33 Total liabilities and net assetsStart of year $331,730$312,587

Part XI · Reconciliation of net assets $309,005 net assets at year end

XI-1 Total revenue$378,792

XI-2 Total expenses$401,516

XI-3 Revenue less expenses−$22,724

XI-4 Net assets at start of year$331,730

XI-8 Prior period adjustments−$1

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$309,005

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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Spruce Pine Main Street INC

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Spruce Pine Main Street INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV