Downtown New London Association
- Assets
- $31.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- New London, CT
- Founding
- 05/1987
- Data as of
- 12/2023
- EIN
- 06-0990313
Organization Overview
Downtown New London Association is located in New London, CT. The organization was established in 1987. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown New London Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Downtown New London Association generated $22.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (29.5%) each year. All expenses for the organization totaled $9.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (42.4%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
TO PROMOTE BUSINESSES IN THE DOWNTOWN NEW LONDON AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Neff Executive Dir. | 10 | $0 | |
Kip Bochain President | 1 | $0 | |
Anne Ogden Secretary | 1 | $0 | |
Robert Hinners Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,800 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $20,641 |
| Other Revenue | $0 |
| Total Revenue | $22,441 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $5,000 |
| Professional fees and other payments to independent contractors | $500 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $4,097 |
| Total expenses | $9,597 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $31,203 |
| Other assets | $0 |
| Total assets | $31,203 |
| Total liabilities | $0 |
| Net assets or fund balances | $31,203 |