Downtown Norfolk Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2012 | 1,834,831 | 1,868,494 | −33,663 | 7.0 | 49% |
| 2013 | 1,944,469 | 1,717,638 | 226,831 | 9.2 | 51% |
| 2014 | 2,069,483 | 1,926,616 | 142,867 | 9.1 | 47% |
| 2015 | 2,208,546 | 2,231,111 | −22,565 | 7.7 | 42% |
| 2016 | 2,216,675 | 2,149,330 | 67,345 | 8.4 | 44% |
| 2017 | 2,653,524 | 2,381,477 | 272,047 | 9.0 | 42% |
| 2018 | 2,522,749 | 2,496,406 | 26,343 | 8.7 | 41% |
| 2019 | 2,373,559 | 2,491,848 | −118,289 | 8.1 | 20% |
| 2020 | 2,240,243 | 2,307,663 | −67,420 | 8.4 | 20% |
| 2021 | 2,878,440 | 2,132,405 | 746,035 | 12.5 | 21% |
| 2022 | 2,621,273 | 2,404,994 | 216,279 | 12.2 | 19% |
| 2023 | 2,378,826 | 2,864,700 | −485,874 | 8.2 | 17% |
| 2024 | 2,497,578 | 2,784,821 | −287,243 | 7.2 | 20% |
In its most recent public year (2024), this organization spent $287,243 more than it brought in. Its reserves stood at about 7.2 months of spending. Staff pay was 20% of spending. $1,475,043 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2024. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
Downtown Norfolk Development Corporation's IRS filings as a feed — one entry per filing year, through 2024. Add the address to any feed reader; in Slack, send /feed subscribe with it (pasting the link alone won't subscribe). How this feed works