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Downtown Morehead INC

Not tax-deductible

Morehead, KY501(c)(4)Community DevelopmentEIN 61-1353599Revenue $208K in FY2025

On file with the IRSPo Box 946, 40351-0946 · Morehead, KYTax-exempt since Mar 2000

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Promotion of Downtown Morehead KY

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $2K a year · under 1% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$44K
34% of total assets
Looks good: liabilities are 34% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$208K
+15% vs prior year
Spent
$207K
To programs
100%
Net assets
$87K
By yearFY2021–FY2025
Revenue
$208K
FY2025▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2021$85K
FY2022$193K
FY2023$214K
FY2024$181K
FY2025$208K
Expenses
$207K
FY2025▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022Not on file
FY2023$217K
FY2024$174K
FY2025$207K
Net assets
$87K
FY2025▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2021$91K
FY2022$83K
FY2023$79K
FY2024$85K
FY2025$87K

From the FY2025 Form 990 (year ending June 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2000.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $207K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Harry Clark
Director
$0Pt VII · Sec A
Cam Flanders
Director
$0Pt VII · Sec A
Mark Lewis
Director
$0Pt VII · Sec A
Monti Lloyd
Director
$0Pt VII · Sec A
Dan Markwell
Director
$0Pt VII · Sec A
Jay Morgan
Director
$0Pt VII · Sec A
Mark Murphy
Director
$0Pt VII · Sec A
See Downtown Morehead 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

Promotes downtown Morehead, Kentucky, through community events and business support.

Questions for Downtown Morehead INC

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Provided by the organization

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1 program · $183K · in their own filed words · FY2024
01

Help with the promoting, revitalization and beutification of downtown morehead ky

$183Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
St Claire Medical Center INCFY2020$5K
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$208K
Ln 12
Fees for servicesLn 2g$131K
Gifts and grantsLn 1h$80K
Investment incomeLn 3$2
Money outPt IX
$207K
Ln 25
Programscol B$207K
Owns and owesPt X
$87K
net assets · Ln 32
Cash and savingsLn 1–2$17K
Total assetsLn 16$132K
LiabilitiesLn 26$44K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$80K
Government grantsLn 1e$80K
Fees for servicesLn 2g$131K
Investment incomeLn 3$2
Total revenueLn 12$208K
Assets in detailPt X, end of year
CashLn 1$17K
Cash and savings togetherLn 1–2$17K
Land, buildings, equipmentLn 10c$115K
Total assetsLn 16$132K
LiabilitiesLn 26$44K
Net assetsLn 32$87K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$17K$17K
Land, buildings, equipmentLn 10c$118K$115K
Total assetsLn 16$135K$132K
LiabilitiesLn 26$49K$44K
Net assetsLn 32$85K$87K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$60K$60K
Accounting feesLn 11c$3K$3K
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$4K$4K
OccupancyLn 16$15K$15K
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$3K$3K
Other expenses (24a–d)Ln 24$111K$111K
All other expensesLn 24e$160$160
Total functional expensesLn 25$207K$207K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $208K$207K$2K$87K 990 PDF
FY2024 $181K$174K$7K$85K 990 PDF
FY2023 $214K$217K−$4K$79K 990 PDF
FY2022 $193K$83K 990 PDF
FY2021 $85K$91K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $208,439 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $56,600$79,938
I-9 Program service revenuePrior year $121,561$131,071
I-10 Investment incomePrior year $2$2
I-11 Other revenuePrior year $2,516−$2,572
I-12 Total revenuePrior year $180,679$208,439
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $58,048$60,206
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $115,658$146,513
I-18 Total expensesPrior year $173,706$206,719
I-19 Revenue less expensesPrior year $6,973$1,720
Part VI · Governance 16 of 16 board members independent, 4 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $208,439 across 5 lines filed
Lines not itemized here account for $1,928 of total revenue; see the IRS return.
VIII-1e Government grants$79,938
VIII-1h Total contributions, gifts and grants$79,938
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $101,596 · Unrelated business $24,975$126,571
VIII-3 Investment incomeRelated to mission $2$2
VIII-12 Total revenueRelated to mission $103,526 · Unrelated business $24,975$208,439
Part IX · Statement of functional expenses $206,719 across 10 lines filed
IX-7 Other salaries and wagesPrograms $60,206$60,206
IX-11c Accounting feesPrograms $3,140$3,140
IX-12 Advertising and promotionPrograms $7,099$7,099
IX-13 Office expensesPrograms $3,830$3,830
IX-16 OccupancyPrograms $15,050$15,050
IX-19 Conferences, conventions and meetingsPrograms $1,937$1,937
IX-20 InterestPrograms $2,035$2,035
IX-22 Depreciation, depletion and amortizationPrograms $2,653$2,653
IX-24 Other expenses (24a–d)Programs $110,609$110,609
IX-24e All other expensesPrograms $160$160
IX-25 Total functional expensesPrograms $206,719 · Management $0 · Fundraising $0$206,719
Part X · Balance sheet $131,588 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $16,630$16,653
X-9 Prepaid expenses and deferred chargesStart of year $350$350
X-10c Land, buildings and equipment, netStart of year $117,703$114,585
X-16 Total assetsStart of year $134,683$131,588
X-17 Accounts payable and accrued expensesStart of year $2,345$2,345
X-24 Unsecured notes and loans payableStart of year $46,970$41,955
X-26 Total liabilitiesStart of year $49,315$44,300
X-32 Total net assets or fund balancesStart of year $85,368$87,288
X-33 Total liabilities and net assetsStart of year $134,683$131,588
Part XI · Reconciliation of net assets $87,288 net assets at year end
XI-1 Total revenue$208,439
XI-2 Total expenses$206,719
XI-3 Revenue less expenses$1,720
XI-4 Net assets at start of year$85,368
XI-9 Other changes in net assets$200
XI-10 Net assets at end of year$87,288

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

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