Downtown Lima Inc
- Assets
- $189.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lima, OH
- Founding
- 04/1999
- Data as of
- 12/2021
- EIN
- 31-1549007
Organization Overview
Downtown Lima Inc is located in Lima, OH. The organization was established in 1999. 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. Downtown Lima 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 12/2021, Downtown Lima Inc generated $131.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $114.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
STIMULATE ECONOMIC DEVELOPMENT, IMPROVE THE APPEARANCE AND CREATE A POSITIVE IMAGE OF THE DOWNTOWN AS A DESIRABLE PLACE TO WORK, LIVE, SHOP AND INVEST. PROGRAM SERVICES INCLUDE COORDINATING SPECIAL EVENTS, PROMOTING TOURISM, PURCHASING ITEMS AND SERVICES FOR THE BEAUTIFICATION OF AREA, AND RECOGNIZING CONTRIBUTIONS TO THE DOWNTOWN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Sommer President | 0 | $0 | |
Kevin Reeks Vice President | 0 | $0 | |
Chad Stearns Trustee | 0 | $0 | |
Cheryl Verhoff Treasurer | 0 | $0 | |
Christine Pleva Trustee | 0 | $0 | |
Bill Lyons Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,000 |
| Total Program Service Revenue | $36,387 |
| Membership dues | $69,775 |
| Investment income | $3,633 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $5,285 |
| Other Revenue | $7 |
| Total Revenue | $131,087 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $56,897 |
| Professional fees and other payments to independent contractors | $5,100 |
| Occupancy, rent, utilities, and maintenance | $7,856 |
| Printing, publications, postage, and shipping | $547 |
| Other expenses | $43,857 |
| Total expenses | $114,407 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $82,125 |
| Other assets | $0 |
| Total assets | $189,098 |
| Total liabilities | $1,271 |
| Net assets or fund balances | $187,827 |
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