District Management Association Downtown Troy Business Improvement
- Assets
- $301.6k
- Revenue
- $261.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Troy, NY
- Founding
- 03/2012
- Data as of
- 12/2022
- EIN
- 27-3638583
Organization Overview
District Management Association Downtown Troy Business Improvement is located in Troy, NY. The organization was established in 2012. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, District Management Association Downtown Troy Business Improvement employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. District Management Association Downtown Troy Business Improvement 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 12/2022, District Management Association Downtown Troy Business Improvement generated $261.0k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $324.5k during the year ending 12/2022. 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
OUR MISSION IS TO CULTIVATE THE ECONOMIC GROWTH AND DEVELOPMENT OF THE DOWNTOWN TROY COMMUNITY BY CREATING AN INCREASINGLY INVITING, DYNAMIC AND SUSTAINABLE ENVIRONMENT THAT CELEBRATES THE CITY'S HISTORY WHILE BUILDING TOWARDS ITS FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BID HOSTS A VARIETY OF EVENTS THROUGOUT THE YEAR THAT BRING THOUSANDS OF PEOPLE TO DOWNTOWN TROY. FROM THE ROCKIN' ON THE RIVER SUMMER CONCERT SERIES TO THE MONTHLY TROY NIGHT OUT ART AND CULTURE EVENT. THE BID ORGANIZES AND EXECUTES EXCITING QUALITY EVENTS THAT DRAW PEOPLE TO TROY'S DOWNTOWN WITH THE PROSPECT THAT THE CROWDS WILL STAY OR RETURN TO PATRONIZE LOCAL BUSINESSES. THE BID HAS ALSO ESTABLISHED SEVERAL PROGRAMS ALL AIMED AT MARKETING DOWNTOWN TROY INCLUDING A DOWNTOWN TROY MAP WITH A LISTING OF ALL MEMBER BUSINESSES AND THE STUDENT INCENTIVE PROGRAM WHICH TARGETS THE LARGE STUDENT POPULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Geoff Breault Executive Di | Officer | 40 | $66,038 |
Matt Callahan President | OfficerTrustee | 1 | $0 |
Jeff Mirel Vice Preside | Trustee | 1 | $0 |
Sarah Caciola Secretary | Trustee | 1 | $0 |
Dave Gardell Treasurer | OfficerTrustee | 1 | $0 |
Kerry Fagan Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $31,500 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $47,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $78,900 |
| Total Program Service Revenue | $181,667 |
| Investment income | $10 |
| 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 | $450 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $261,027 |
| 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. | $66,038 |
| Compensation of current officers, directors, key employees. | $47,319 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $115,642 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $653 |
| Payroll taxes | $15,172 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $752 |
| Fees for services: Accounting | $23,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,321 |
| Advertising and promotion | $12,770 |
| Office expenses | $7,664 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,719 |
| 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 | $0 |
| Insurance | $4,261 |
| All other expenses | $0 |
| Total functional expenses | $324,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,487 |
| Savings and temporary cash investments | $102,370 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,227 |
| 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 | $1,201 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,286 |
| Total assets | $301,571 |
| Accounts payable and accrued expenses | $21,408 |
| 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 | $3,774 |
| Total liabilities | $25,182 |
| Net assets without donor restrictions | $276,389 |
| 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 | $301,571 |