Downtown Boston Business Improvement District Corporation
- Assets
- $5.2m
- Revenue
- $3.7m
- Investments
- $1.7m
- Employees
- 15
- Location
- Boston, MA
- Founding
- 01/2012
- Data as of
- 12/2023
- EIN
- 27-3596446
Organization Overview
Downtown Boston Business Improvement District Corporation is located in Boston, MA. The organization was established in 2012. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Downtown Boston Business Improvement District Corporation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Boston Business Improvement District 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 12/2023, Downtown Boston Business Improvement District Corporation generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $3.9m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 9 years. 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
TO CREATE A CLEAN, WELCOME, AND VIBRANT ENVIRONMENT THAT WILL INCREASE BUSINESS ACTIVITY IN THE DOWNTOWN BOSTON AREA, INCLUDING DOWNTOWN CROSSING, THE LADDER DISTRICT, AND PARTS OF THE THEATER AND FINANCIAL DISTRICTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS AND SERVICES PROVIDED BY THE CORPORATION INCLUDE THE FOLLOWING:CLEANING AND HOSPITALITY SUPPLEMENTAL CLEANING OF PUBLIC WAYS, INCLUDING CLEANING CURB LINES, LITTER REMOVAL, SIDEWALK PRESSURE-WASHING, SUPPLEMENTAL CLEANING OF BIG BELLY SOLAR COMPACTORS, AND REMOVAL OF HANDBILLS, GUM, AND GRAFFITI. HIRING AND TRAINING UNIFORMED AMBASSADORS TO GIVE DIRECTIONS, ANSWER QUESTIONS, DISTRIBUTE MAPS AND OTHER DISTRICT INFORMATION, AND PROVIDE OTHER ASSISTANCE TO RESIDENTS, EMPLOYEES, PROPERTY AND BUSINESS OWNERS, AND VISITORS IN THE DISTRICT. THESE SERVICES ENHANCE THE CLEANLINESS OF THE DISTRICT AND MAKE IT MORE INVITING, ENCOURAGING TOURISM AND BUSINESS DEVELOPMENT IN THE AREA. DURING THE PERIOD OF JULY 1, 2023 THROUGH DECEMBER 31, 2023 APPROXIMATELY 45% OF THE CORPORATIONS TIME AND RESOURCES WILL BE EXPENDED ON THESE AREAS.DISTRICT PROMOTIONS - PROGRAMMING ACTIVITIES AND SPECIAL EVENTS, PROMOTION OF DOWNTOWN BUSINESSES AND AMENITIES, MAINTAINING WEBSITE TO SERVE AS THE DEFINITIVE RESOURCE TO DOWNTOWN, BUSINESS ATTRACTION AND RETENTION, PROMOTION OF ECONOMIC DEVELOPMENT THROUGH MARKET AND REAL ESTATE ANALYSES. DURING THE PERIOD OF JULY 1, 2023 THROUGH DECEMBER 31, 2023 APPROXIMATELY 30% OF THE CORPORATION'S TIME AND RESOURCES WILL BE EXPENDED ON THESE AREAS.CAPITAL IMPROVEMENTS & BEAUTIFICATION: INVESTMENT IN PUBLIC SPACE BEAUTIFICATION INCLUDING BUT NOT LIMITED TO YEAR-ROUND PLANTINGS, HANGING BASKETS, TABLES AND CHAIRS, PUBLIC ART; SUPPORT OF ADDITIONAL CAPITAL INVESTMENT BY BOTH PRIVATE AND PUBLIC ENTITIES. DURING THE PERIOD OF JULY 1, 2023 THROUGH DECEMBER 31, 2023 APPROXIMATELY 12% OF THE CORPORATION'S TIME AND RESOURCES WILL BE EXPENDED ON THESE AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Nichols President & CEO | OfficerTrustee | 40 | $115,500 |
Pam Messenger Chairman | OfficerTrustee | 1 | $0 |
Ed Haverty Treasurer | OfficerTrustee | 1 | $0 |
Chad Remis Vice Chairman | OfficerTrustee | 1 | $0 |
Brian Awe Clerk | OfficerTrustee | 0.5 | $0 |
David Dyer Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flora Explora Llc Landscaping | 12/30/23 | $228,305 |
Mydatt Services Inc Dba Block By Bl Clean And Hospitality | 12/30/23 | $1,572,738 |
Proverb Llc Re-branding | 12/30/23 | $128,417 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,506,443 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,625 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,558,068 |
| Total Program Service Revenue | $45,310 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $3,722,843 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $872,794 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,101 |
| Office expenses | $40,033 |
| Information technology | $65,193 |
| Royalties | $0 |
| Occupancy | $109,567 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,096 |
| Insurance | $20,236 |
| All other expenses | $42,275 |
| Total functional expenses | $3,931,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,484,741 |
| Savings and temporary cash investments | $921,075 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,911 |
| 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 | $69,590 |
| Net Land, buildings, and equipment | $226,128 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,734,819 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $747,798 |
| Total assets | $5,195,062 |
| Accounts payable and accrued expenses | $651,917 |
| Grants payable | $0 |
| Deferred revenue | $336,325 |
| 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 | $747,798 |
| Total liabilities | $1,736,040 |
| Net assets without donor restrictions | $3,459,022 |
| 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 | $5,195,062 |