South Bank Partners Inc
- Assets
- $981.0k
- Revenue
- $250.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport, KY
- Founding
- 08/1998
- Data as of
- 06/2022
- 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 06/2022, South Bank Partners Inc generated $250.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (33.2%) each year. All expenses for the organization totaled $300.8k 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 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.
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 |
|---|---|---|---|
Raymond Beil Chairman Of The Board | OfficerTrustee | 5 | $0 |
Jay Buchert Secretary Of The Board | OfficerTrustee | 1 | $0 |
Roger Peterman Treasurer Of The Board | OfficerTrustee | 1 | $0 |
Michael Chilelli Board Member | Trustee | 1 | $0 |
Jack Moreland - Non-Voting Member President | OfficerTrustee | 40 | $0 |
Tom Guidugli Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $240,024 |
| 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 | $240,024 |
| Total Program Service Revenue | $4,921 |
| Investment income | $2,033 |
| 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 | $250,849 |
| 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. | $122,551 |
| Compensation of current officers, directors, key employees. | $122,551 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,138 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $90,169 |
| Advertising and promotion | $6,650 |
| Office expenses | $13,274 |
| Information technology | $3,655 |
| Royalties | $0 |
| Occupancy | $2,896 |
| Travel | $18,621 |
| 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 | $300,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $975,187 |
| 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 | $5,787 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $980,974 |
| Accounts payable and accrued expenses | $5,084 |
| 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 | $5,084 |
| 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 | $975,890 |
| Total liabilities and net assets/fund balances | $980,974 |
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 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 |
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 |