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Nonprofit · EIN 56-1683012

ALBEMARLE DOWNTOWN DEVELOPMENT CORP

Tax-exempt · ALBEMARLE, NC 28002

Financials

$496K$528K2022$464K$459K2023$496K$503K2024
Revenue Expenses · by fiscal year end
Financials of ALBEMARLE DOWNTOWN DEVELOPMENT CORP by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$496,366$502,750-$6,384$667,070$2,009$665,061
June 30, 2024990$463,908$459,195$4,713$673,249$1,804$671,445
June 30, 2023990$496,480$528,089-$31,609$668,464$1,732$666,732
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$26,858
Program service revenue
$457,659
Investment income
$2,419
Other revenue
$9,430

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Accounting fees
$3,880
Depreciation
$28,271
Program services (functional)
$491,185
Management and general (functional)
$11,565

Balance sheet and other

Total assets, start of year
$673,249
Total assets, end of year
$667,070
Total liabilities, end of year
$2,009
Net assets, end of year
$665,061
Land, buildings and equipment
$473,120
Net assets without donor restrictions
$665,061
Gross receipts
$496,366
Employees
0
Volunteers
50
Year formed
1989
State of legal domicile
NC

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensation
JOHN WILLIAMSCHAIR
Trustee or director, Officer
2$0
BETH OLIVIERIIMMEDIATE PAST CHAIR
Trustee or director
1$0
BRADLEY EUDYVICE CHAIR
Trustee or director
1$0
TAMMY BRANCHTREASURER
Trustee or director, Officer
2$0
OLIVIA PHILLIPSDIRECTOR
Trustee or director
1$0
CONNIE MOSHERDIRECTOR
Trustee or director
1$0
TANNER DENTONDIRECTOR
Trustee or director
1$0
SHAY WATSON VITALEDIRECTOR
Trustee or director
1$0
CINDY DRYDIRECTOR
Trustee or director
1$0
KRISTY N LEE-THAODIRECTOR
Trustee or director
1$0
MEGAN KINGDIRECTOR
Trustee or director
1$0
990 for the year ended June 30, 2024: 11 people
NameTitleHours / weekCompensation
BETH OLIVIERICHAIR
Trustee or director, Officer
2$0
JASON ANDREWPAST CHAIR
Trustee or director
1$0
PAM POPLINTREASURER
Trustee or director, Officer
2$0
OLIVIA PHILLIPSDIRECTOR
Trustee or director
1$0
BRADLEY EUDYDIRECTOR
Trustee or director
1$0
CONNIE MOSHERDIRECTOR
Trustee or director
1$0
TANNER DENTONDIRECTOR
Trustee or director
1$0
TAMMY BRANCHDIRECTOR
Trustee or director
1$0
CINDY DRYDIRECTOR
Trustee or director
1$0
SHAY WATSON VITALEDIRECTOR
Trustee or director
1$0
JOHN WILLIAMSDIRECTOR
Trustee or director
1$0
990 for the year ended June 30, 2023: 13 people
NameTitleHours / weekCompensation
MELANIE HOLLESCHAIR
Trustee or director, Officer
2$0
PAM POPLINTREASURER
Trustee or director, Officer
2$0
EMILY JAMESVICE CHAIR
Trustee or director
1$0
EDNA LIPE-HARKEYDIRECTOR
Trustee or director
1$0
PAUL JENKINSDIRECTOR
Trustee or director
1$0
HEATHER BRITTDIRECTOR
Trustee or director
1$0
SALEM TAYLORDIRECTOR
Trustee or director
1$0
DR SCOTT BULLARDDIRECTOR
Trustee or director
1$0
DR REESE LINNELLDIRECTOR
Trustee or director
1$0
SANDY SELVY-MULLISDIRECTOR
Trustee or director
1$0
MICHAEL FERRISDIRECTOR
Trustee or director
1$0
KEITH TUNNELLDIRECTOR
Trustee or director
1$0
RONNIE MICHAELDIRECTOR
Trustee or director
1$0

Address and contacts

Address (IRS master file)
PO BOX 2123, ALBEMARLE, NC 28002-2123
Principal officer (990 for 2024)
KATIE LYNN, PO BOX 2123, ALBEMARLE, NC 28002
Signed the 990
KATIE LYNN, EXECUTIVE DIRECTOR
Phone
(704) 984-9415
Return prepared by
Dogwood Tax & Advisory LLC

Mission

TO CREATE AN ENVIRONMENT FOR DEVELOPMENT THAT ENHANCES DOWNTOWN ALBEMARLE AS THE CULTURAL, HISTORIC, SOCIAL, ECONOMIC, AND EDUCATIONAL CENTER OF THE

990 for the year ended June 30, 2025

Program accomplishments

  • VARIOUS PROGRAMS TO PROMOTE DOWNTOWN DEVELOPMENT AND REVITALIZATION AND TO PROMOTE DOWNTOWN BUSINESS IN THE COMMUNITY
    Expenses $491,185 · grants $20,294 · revenue $457,659

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
56-1683012
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1992
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$667,070
Income (IRS master file)
$496,366

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$496,366$502,750$667,070XML
990June 2024$463,908$459,195$673,249XML
990June 2023$496,480$528,089$668,464XML
990June 2022–––IRS
990June 2021–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1683012).

Questions about ALBEMARLE DOWNTOWN DEVELOPMENT CORP

What is the EIN of ALBEMARLE DOWNTOWN DEVELOPMENT CORP?
The employer identification number (EIN) of ALBEMARLE DOWNTOWN DEVELOPMENT CORP is 56-1683012.
Is ALBEMARLE DOWNTOWN DEVELOPMENT CORP tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1992.
Are donations to ALBEMARLE DOWNTOWN DEVELOPMENT CORP tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does ALBEMARLE DOWNTOWN DEVELOPMENT CORP file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of ALBEMARLE DOWNTOWN DEVELOPMENT CORP due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did ALBEMARLE DOWNTOWN DEVELOPMENT CORP last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of ALBEMARLE DOWNTOWN DEVELOPMENT CORP?
The 990 for the year ended June 30, 2025 names KATIE LYNN.
Who are the officers and directors of ALBEMARLE DOWNTOWN DEVELOPMENT CORP?
The 990 for the year ended June 30, 2025 lists 11 people; 0 received compensation from the organization.
How much revenue does ALBEMARLE DOWNTOWN DEVELOPMENT CORP have?
On its 990 for the year ended June 30, 2025 it reported revenue of $496,366, expenses of $502,750 and total assets of $667,070 at year end.

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