Skip to the page content
Your donations
Passes our checks

Downtown Statesville Development Corporation

EIN 56-1371833 · Statesville, NC

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood72 out of 100GovernanceGood79 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

DOWNTOWN STATESVEILLE DEVELOPMENT CORPORATION, INC. IS A NONPROFIT ORGANIZATION THAT EXISTS TO PROVIDE LEADERSHIP DEDICATED TO THE HISTORIC PRESERVATION AND ENHANCEMENT OF DOWNTOWN STATESVILLE. OUR ORGANIZATION PROMOTES DOWNTOWN AS THE PRIMARY CENTER FOR ECONOMIC GROWTH OPPORTUNITIES, SOCIAL EXPERIENCES AND CULTURAL ARTS IN STATESVILLE.

Income
$288,378
Spending
$320,732
Spent on programs
82%
Reserves
10.9 months of spending
Largest source of income
government grants, 56%
Employees
2
Volunteers
100

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 72 out of 100. Higher than 47% of charities in its peer group (community improvement, $250k to $1m).

  • Reserves

    28 of 35

    Spendable reserves would cover 10.9 months of spending.

  • Debt

    20 of 20

    It owes 12% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 11% of income.

  • Income trend

    5 of 15

    Income fell 14% on the year before.

  • Spending floor

    15 of 15

    82% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 79 out of 100. Higher than 55% of charities in its peer group (community improvement, $250k to $1m).

  • Independent board

    25 of 25

    17 of 17 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    0 of 5

    Reports that it does not keep minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $262,418 spent. THE PROGRAM SERVICE EXPENSES WERE USED IN ATTAINING THE ORGANIZATION'S MISSION OF PLANNING, RESEARCHING AND ASSISTING IN THE IMPLEMENTATION OF PROJECTS FOR THE DEVELOPMENT OF REAL ESTATE AND ATTRACTING VISITORS TO THE DOWNTOWN AREA. THE FOLLOWING IS A LIST FOR WHICH THE EXPENSES WERE MADE: TO PROMOTE DOWNTOWN THROUGH FESTIVALS AND OTHER PROMOTIONAL EVENTS. WORKING TO RECRUIT ADDITIONAL RETAIL, RESTAURANTS AND OTHER BUSINESSES INTO THE DOWNTOWN AREA. WORK WITH THE CITY OF STATESVILLE AND PRIVATE PROPERTY OWNERS ON BEAUTIFICATION PROJECTS. WORKING TO IGNITE PRIVATE SECTOR INTEREST IN REDEVELOPING DOWNTOWN INCLUDING KEY ANCHOR PROPERTIES THAT ARE VACANT AND/OR UNDERUTILIZED.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since August 1985.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.