Charlotterising FY2021 filing

Tax-deductible

Charlotte, MI501(c)(3)Community DevelopmentEIN 81-5068274

To cultivate a vibrant and enduring downtown Charlotte.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$55K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
2 of 5
filings with a surplus
Average deficit $12K a year · 12% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$55K
to officers and key staff · 42% of spending
Concern: pay to officers and key staff is 42% of spending; over 30%.
Pt VII · Sec A
Cash reserves
15 mo
of spending, in cash
Looks good: 14.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $875
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
1.0% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$188K
-11% vs prior year
Spent
$130K
To programs
100%
Net assets
$157K
By yearFY2020–FY2024
Revenue
$188K
FY2021▼ -11%
Revenue by fiscal year
FY2020$212K
FY2021$188K
FY2022$31K
FY2023$45K
FY2024$7K
Expenses
$130K
FY2021▼ -31%
Expenses by fiscal year
FY2020$189K
FY2021$130K
FY2022$54K
FY2023$80K
FY2024$87K
Net assets
$157K
FY2021▲ +57%
Net assets by fiscal year
FY2020$100K
FY2021$157K
FY2022$156K
FY2023$0
FY2024$0

From the FY2021 Form 990 (year ending June 2021) · see the original

You’re viewing the FY2021 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 Apr 2018.

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% · $130K

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

Who runs it and what they're paid

9 people listed on the 990; $55K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director
$54,689Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Annie Willaims’s $58K as Executive Director is at the 89th percentile of top reported officer pay among 168 <$100K community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Annie Willaims$58,235$53,600$27,077——
Lisa Barna———$54,689$51,600

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Revitalizes and sustains downtown Charlotte's community and economy.

Provided by the organization

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1 program service account for $130K of program spending, described in the organization's own filed words · FY2020.
01

Developing the strategic framework of the organization to implement the ten project goals for the next fiscal year. These goals will benefit the entire downtown business and property environment.

$130Kprogram expense

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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 · FY2024
Total grants receivedfrom 1 funder$875

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$188K
Ln 12
Gifts and grantsLn 1h$188K
Investment incomeLn 3$148
Money outPt IX
$130K
Ln 25
Programscol B$130K
Owns and owesPt X
$157K
net assets · Ln 32
Cash and savingsLn 1–2$159K
Total assetsLn 16$159K
LiabilitiesLn 26$2K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$188K
Fundraising eventsLn 1c$22K
Investment incomeLn 3$148
Total revenueLn 12$188K
Assets in detailPt X, end of year
CashLn 1$159K
Cash and savings togetherLn 1–2$159K
Total assetsLn 16$159K
LiabilitiesLn 26$2K
Net assetsLn 32$157K
OperationsPt I, VI
EmployeesI 51
VolunteersI 614
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$102K$159K
Total assetsLn 16$262K$159K
LiabilitiesLn 26$162K$2K
Net assetsLn 32$100K$157K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$65K$65K
Pay of current officers, directors and key staffLn 5$55K$55K$0$0
Payroll taxesLn 10$4K$4K$0$0
Office expensesLn 13$1K$1K$0$0
OccupancyLn 16$6K$6K$0$0
TravelLn 17$397$397$0$0
Total functional expensesLn 25$130K$130K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $7K$87K−$80K$0 990 PDF
FY2023 $45K$80K−$36K$0 990 PDF
FY2022 $31K$54K−$23K$156K 990 PDF
FY2021 Viewing $188K$130K$57K$157K 990 PDF
FY2020 $212K$189K$23K$100K 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $187,789 across 5 lines filed
VIII-1c Fundraising events$22,093
VIII-1f All other contributions, gifts and grants$165,548
VIII-1h Total contributions, gifts and grants$187,641
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$148
VIII-12 Total revenueRelated to mission $148 · Unrelated business $0 · Excluded from tax $0$187,789
Part IX · Statement of functional expenses $130,425 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $64,570$64,570
IX-5 Pay of current officers, directors and key staffPrograms $54,689 · Management $0 · Fundraising $0$54,689
IX-10 Payroll taxesPrograms $4,071 · Management $0 · Fundraising $0$4,071
IX-13 Office expensesPrograms $1,198 · Management $0 · Fundraising $0$1,198
IX-16 OccupancyPrograms $5,500 · Management $0 · Fundraising $0$5,500
IX-17 TravelPrograms $397 · Management $0 · Fundraising $0$397
IX-25 Total functional expensesPrograms $130,425 · Management $0 · Fundraising $0$130,425
Part X · Balance sheet $158,909 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $101,550$158,909
X-16 Total assetsStart of year $261,550$158,909
X-17 Accounts payable and accrued expensesStart of year $161,529$1,524
X-26 Total liabilitiesStart of year $161,529$1,524
X-32 Total net assets or fund balancesStart of year $100,021$157,385
X-33 Total liabilities and net assetsStart of year $261,550$158,909
Part XI · Reconciliation of net assets $157,385 net assets at year end
XI-1 Total revenue$187,789
XI-2 Total expenses$130,425
XI-3 Revenue less expenses$57,364
XI-4 Net assets at start of year$100,021
XI-10 Net assets at end of year$157,385

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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