Newark Downtown District Management Corporation
- Assets
- $10.3m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Newark, NJ
- Founding
- 02/2000
- Data as of
- 12/2023
- EIN
- 22-3646316
Organization Overview
Newark Downtown District Management Corporation is located in Newark, NJ. The organization was established in 2000. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Newark Downtown District Management Corporation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newark Downtown District Management Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Newark Downtown District Management Corporation generated $8.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $6.6m during the year ending 12/2023. While expenses have increased by 4.2% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
REVITALIZE DOWNTOWN NEWARK BY IMPROVING THE ECONOMIC VIABILITY OF THE CENTRAL BUSINESS DISTRICT AND ENHANCE THE QUALITY OF LIFE FOR RESIDENTS, WORKERS, STUDENTS AND VISITORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLEAN TEAM - MEMBERS OF THE NEWARK DOWNTOWN DISTRICT GET TO WITNESS THE EXCEPTIONAL WORK OF OUR NDD AMBASSADORS. THEY WORK HARD TO PROVIDE THE CLEAN, GREEN, AND SAFE SERVICES THAT DIRECTLY IMPROVE THE QUALITY OF LIFE FOR RESIDENTS, COMMUTERS AND VISITORS (SEE SCHEDULE O FOR DETAILS)
QUALITY OF LIFE
AMBASSADORS - THE AMBASSADORS ARE THE HEART AND SOUL OF OUR ORGANIZATION. HIGHLY RECOGNIZABLE IN THEIR BRIGHT YELLOW AND BLACK UNIFORMS THEY ARE SPLIT UP INTO TEAMS WHICH ARE FUNDAMENTAL TO THE UPKEEP AND MAINTENANCE OF THE DOWNTOWN. DURING OUR PEAK SEASON, THERE ARE UP TO 60 AMBASSADORS EMPLOYED BY NDD, MORE THAN 95% ARE NEWARK RESIDENTS. (SEE SCHEDULE O FOR DETAILS)
DOWNTOWN MARKETING - THE DISTRICT'S MARKETING PROGRAM INTRODUCES PEOPLE TO AN INVIGORATED NEWARK. THE PROGRAM PROMOTES THE CITY'S DIVERSE ARTS AND CULTURAL OFFERINGS, ITS UNIQUE RESTAURANTS AND INTERNATIONAL CHARACTER. MARKETING AT THE NEWARK DOWNTOWN DISTRICT IS TWOFOLD, PROMOTING OUR VARIOUS COMMUNITY EVENTS AS WELL AS PROMOTING OUR STAKEHOLDERS IN A NUMBER OF WAYS. BY CONNECTING WITH AS MANY BUSINESSES AS POSSIBLE IN NEWARK, THE NDD PUSHES OUT THE GOOD WORD ABOUT WHAT IS HAPPENING HERE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Mcmillan Chief Executive Officer | Officer | 40 | $249,242 |
Mbacke N Faye Senior Urban Planner | 40 | $109,577 | |
Susan E Mckay Director Of Operations | 40 | $106,027 | |
Edward Zazzali Board Chair | OfficerTrustee | 1 | $0 |
Cristina Cruz Vice-Chair | OfficerTrustee | 1 | $0 |
Michael Bright Secretary/treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Block-by-block Cleaning | 12/30/17 | $876,442 |
Streetplus Company Llc Cleaning | 12/30/17 | $599,764 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $8,392,835 |
| Investment income | $139,005 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,049 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,541,889 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $269,962 |
| Compensation of current officers, directors, key employees. | $215,970 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $690,594 |
| Pension plan accruals and contributions | $8,510 |
| Other employee benefits | $43,588 |
| Payroll taxes | $77,588 |
| Fees for services: Management | $106,943 |
| Fees for services: Legal | $26,033 |
| Fees for services: Accounting | $85,072 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,550,655 |
| Advertising and promotion | $55,338 |
| Office expenses | $204,453 |
| Information technology | $50,617 |
| Royalties | $0 |
| Occupancy | $271,137 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,588 |
| Interest | $347,270 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $401,387 |
| Insurance | $17,445 |
| All other expenses | $299,837 |
| Total functional expenses | $6,551,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,321 |
| Savings and temporary cash investments | $5,637,878 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,277,046 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $74,038 |
| Net Land, buildings, and equipment | $857,819 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,440,804 |
| Total assets | $10,288,906 |
| Accounts payable and accrued expenses | $540,141 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $6,337,040 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,441,280 |
| Total liabilities | $8,318,461 |
| Net assets without donor restrictions | $1,970,445 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,288,906 |