South Bank Partners Inc
- Assets
- $1.0m
- Revenue
- $216.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport, KY
- Founding
- 08/1998
- Data as of
- 06/2021
- EIN
- 31-1495560
Organization Overview
South Bank Partners Inc is located in Newport, KY. The organization was established in 1998. 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. South Bank Partners Inc 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 06/2021, South Bank Partners Inc generated $216.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $262.1k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST NORTHERN KENTUCKY'S RIVER CITIES IN CREATING THEIR VISION FOR A VIBRANT RIVERFRONT COMMUNITY AND HELPING THEM TO BRING VISION TO REALITY BY PROMOTING AND COORDINATING ECONOMIC DEVELOPMENT, FACILITATING TEAMWORK AND COLLABORATION, AND PROVIDING A UNIFIED VOICE TO REPRESENT THE COMMON NEEDS AND INTEREST OF OUR CITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREATION OF PLANS, OBJECTIVES, STRATEGIES, PROJECTS AND POLICIES TO FURTHER SOUTHBANK'S EXEMPT PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Moreland - Non-Voting Member President | OfficerTrustee | 40 | $56,516 |
Tom Guidugli Secretary Of The Board | OfficerTrustee | 1 | $0 |
Donna Salyers Treasurer Of The Board | OfficerTrustee | 1 | $0 |
Jay Buchert Chairman Of The Board | OfficerTrustee | 5 | $0 |
Michael Chilelli Board Member | Trustee | 1 | $0 |
Will Weber Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $190,619 |
| 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 | $190,619 |
| Total Program Service Revenue | $0 |
| Investment income | $2,221 |
| 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 | $216,320 |
| 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. | $106,298 |
| Compensation of current officers, directors, key employees. | $106,298 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,003 |
| Payroll taxes | $8,904 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,655 |
| Advertising and promotion | $8,198 |
| Office expenses | $28,857 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,076 |
| 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 | $864 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $262,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,026,022 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $6,651 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,032,673 |
| Accounts payable and accrued expenses | $6,788 |
| 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 | $6,788 |
| Net assets without donor restrictions | $0 |
| 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 | $1,025,885 |
| Total liabilities and net assets/fund balances | $1,032,673 |
Grants Awarded
Over the last fiscal year, South Bank Partners Inc has awarded $20,325 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF NEWPORT-RED BIKES PURPOSE: TO ASSIST IN THE DEVELOPMENT OF THE RIVERFRONT CITY AS DESCRIBED IN THE ORGANIZATION'S MISSION STATEMENT. | $15,000 |
CITY OF COVINGTON-DESIGN GUIDELINES FOR RIVERFRONT COMMONS PURPOSE: TO ASSIST IN THE DEVELOPMENT OF THE RIVERFRONT CITY AS DESCRIBED IN THE ORGANIZATION'S MISSION STATEMENT. | $5,325 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that South Bank Partners Inc has recieved totaling $30,120.
| Awarding Organization | Amount |
|---|---|
Horizon Community Funds Of Northern Kentucky Inc Covington, KY PURPOSE: General Support | $13,120 |
St Elizabeth Medical Center Inc Edgewood, KY PURPOSE: Program Support | $10,000 |
Cincinnati Institute Of Fine Arts Cincinnati, OH PURPOSE: Catalyzing Impact Support | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |