Ripley Downtown Development Corporation
- Assets
- $243.3k
- Revenue
- $653.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Ripley, TN
- Founding
- 03/2010
- Data as of
- 06/2022
- EIN
- 26-2121417
Organization Overview
Ripley Downtown Development Corporation is located in Ripley, TN. The organization was established in 2010. According to its NTEE Classification (S30) the organization is classified as: Economic Development, 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. Ripley Downtown Development Corporation 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 06/2022, Ripley Downtown Development Corporation generated $653.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $600.2k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE REDEVELOPMENT AND COMBAT COMMUNITY DETERIORATION IN THE DOWNTOWN RIPLEY TN AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE REDEVELOPMENT AND COMBAT COMMUNITY DETERIORATION IN THE DOWNTOWN RIPLEY TN AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman Hendren Board Mbr | Trustee | 1 | $0 |
Diana Theus Board Mbr | Trustee | 1 | $0 |
Darin Kissell Board Mbr | Trustee | 1 | $0 |
Maurice Gaines Board Mbr | Trustee | 1 | $0 |
David Cove Board Mbr | Trustee | 1 | $0 |
Don Connell Board Mbr | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $653,030 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $900 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $653,930 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $51,200 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,028 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,902 |
| Office expenses | $6,912 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,468 |
| Travel | $1,329 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,348 |
| Interest | $146 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,719 |
| Insurance | $1,583 |
| All other expenses | $0 |
| Total functional expenses | $600,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,978 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $73,920 |
| 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 | $511 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $243,267 |
| Accounts payable and accrued expenses | $1,147 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $1,147 |
| Net assets without donor restrictions | $242,120 |
| 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 |
| Total liabilities and net assets/fund balances | $242,120 |