Main Street Square Incorporated
- Assets
- $1.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 49
- Location
- Rapid City, SD
- Founding
- 08/2012
- Data as of
- 12/2021
- EIN
- 27-3983146
Organization Overview
Main Street Square Incorporated is located in Rapid City, SD. 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 12/2021, Main Street Square Incorporated employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Main Street Square Incorporated 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 12/2021, Main Street Square Incorporated generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 1.6% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES A TOWN SQUARE (WHICH IS OWNED BY THE CITY OF RAPID CITY) IN THE HEART OF DOWNTOWN RAPID CITY IN ORDER TO PROVIDE AN ACTIVE GATHERING PLACE FOR THE ENTIRE COMMUNITY, TO INVITE MORE PEDESTRIAN TRAFFIC DOWNTOWN, AND TO STRENGTHEN THE CENTER OF THE COMMUNITY. THIS INCLUDES SUPPORTING, ENCOURAGING, ADVOCATING, AND PRESERVING THE VITALITY AND AESTHETIC BEAUTY OF THE DOWNTOWN RAPID CITY BUSINESS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OVERSEES MANAGEMENT OF MAIN STREET SQUARE THROUGH AN OPERATING AGREEMENT WITH THE CITY OF RAPID CITY. DURING 2021, MAIN STREET SQUARE HELD OVER 40 EVENTS AND DREW BETWEEN 100,000 - 200,000 PEOPLE TO THE SQUARE AND DOWNTOWN RAPID CITY. AN INTERACTIVE WATER FOUNTAIN OPERATES IN THE SUMMER MONTHS, AND AN ICE SKATING RINK OPERATES IN THE WINTER MONTHS. A VISITOR INFORMATION CENTER IS OPEN DURING ALL EVENTS TO PROVIDE INFORMATION ON THE LOCAL COMMUNITY. EVENTS HELD DURING 2021 INCLUDED HOLIDAY CELEBRATIONS, MOONLIT MOVIES, THURSDAY NIGHT CONCERT SERIES, AND MUCH MORE. MAIN STREET SQUARE ALSO EDUCATES OTHER CITIES ON ECONOMIC DEVELOPMENT AND,IN TURN, UTILIZES THESE OPPORTUNITIES TO MAKE IMPROVEMENTS IN ITS EVENTS. THE ORGANIZATION LEADS EFFORTS TO REDEVELOP AND REVITALIZE DOWNTOWN RAPID CITY THROUGH IMPROVING STREETSCAPES AND FACADES, ENHANCING THE BUSINESS MIX DOWNTOWN, AND PROVIDING CLEAN AND SAFE PROGRAMS. THE ORGANIZATION ALSO MAINTAINS A WEBSITE AND DISTRIBUTES LITERATURE PROMOTING DOWNTOWN BUSINESSES AND EVENTS. THE ORGANIZATION PROMOTES THE ARTS IN DOWNTOWN RAPID CITY. AS PART OF THIS PROMOTION, A SCULPTURE PROJECT WAS COMPLETED THAT WILL POSITION RAPID CITY AS AN ARTS DESTINATION. THE PROJECT WAS THE LARGEST PRIVATELY FUNDED PUBLIC ART COMMISSION UNDERWAY IN THE UNITED STATES AND WAS COMPLETED IN 2017. THE SCULPTOR WORKED IN THE PUBLIC VIEW AND FOCUSED ON COMMUNITY INPUT AND INVOLVEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Domico Rodriguez President/ce | OfficerTrustee | 45 | $74,261 |
Dan Senftner Executive Di | Officer | 40 | $59,431 |
Mutch Usera Chair | OfficerTrustee | 1 | $0 |
Ray Hespen Vice Chair | OfficerTrustee | 1 | $0 |
Billi Derudder Secretary | OfficerTrustee | 1 | $0 |
Stacey Hazelton Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Masayuki Nagase Sculptor | 12/30/16 | $270,000 |
Rangel Construction Company Llc Construction | 12/30/16 | $133,896 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $177,940 |
| All other contributions, gifts, grants, and similar amounts not included above | $677,483 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $855,423 |
| Total Program Service Revenue | $489,322 |
| Investment income | $2,424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $11,663 |
| Net Gain/Loss on Asset Sales | $1,848 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,364,415 |
| 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. | $143,869 |
| Compensation of current officers, directors, key employees. | $80,043 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $446,542 |
| Pension plan accruals and contributions | $3,115 |
| Other employee benefits | $25,403 |
| Payroll taxes | $43,638 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,991 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,332 |
| Advertising and promotion | $69,161 |
| Office expenses | $34,466 |
| Information technology | $6,391 |
| Royalties | $0 |
| Occupancy | $169,179 |
| Travel | $24,401 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,000 |
| Interest | $56 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,856 |
| Insurance | $28,623 |
| All other expenses | $0 |
| Total functional expenses | $1,260,515 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,478 |
| Savings and temporary cash investments | $611,563 |
| Pledges and grants receivable | $93,812 |
| Accounts receivable, net | $7,091 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,605 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $576,999 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $183,506 |
| Total assets | $1,564,054 |
| Accounts payable and accrued expenses | $34,663 |
| 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 | $34,663 |
| Net assets without donor restrictions | $1,442,828 |
| Net assets with donor restrictions | $86,563 |
| 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 | $1,564,054 |
Grants Awarded
Over the last fiscal year, Main Street Square Incorporated has awarded $25,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
West Sacramento, CA | | $15,000 |
CITY OF RAPID CITYPARKS DEPARTMENT | | | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Main Street Square Incorporated has recieved totaling $5,500.
| Awarding Organization | Amount |
|---|---|
Black Hills Area Community Foundation Rapid City, SD PURPOSE: COMMUNITY WELFARE | $5,500 |
Endowment Analysis
| Earnings | $3,506 |
| Net Contributions | $180,000 |
| Ending Balance | $183,506 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Action Of Eastern Iowa Davenport, IA | $4,145,446 | $19,807,458 |
Mahube-Otwa Community Action Partnership Inc Detroit Lakes, MN | $6,691,451 | $20,228,935 |
Upper Des Moines Opportunity Inc Graettinger, IA | $5,376,639 | $17,208,548 |
Central Nebraska Community Action Partnership Inc Loup City, NE | $11,182,517 | $15,277,585 |
Community Action Agency Of Siouxland Sioux City, IA | $5,735,581 | $15,017,682 |
Mid-Iowa Community Action -Mica- Incorporated Marshalltown, IA | $3,849,705 | $14,587,976 |
Three Rivers Community Action Inc Zumbrota, MN | $34,597,275 | $14,786,149 |
West Central Minnesota Communities Action Inc Elbow Lake, MN | $6,410,822 | $11,174,117 |
Montana Community Development Corporation Missoula, MT | $128,107,962 | $17,427,104 |
Beacon Interfaith Housing Collaborative Saint Paul, MN | $38,850,974 | $10,667,246 |
Childserve Community Options Inc Johnston, IA | $2,057,993 | $11,623,811 |
Lakes And Pines Community Action Council Inc Mora, MN | $3,434,723 | $9,795,071 |