Downtown Springfield Inc
- Assets
- $187.7k
- Revenue
- $392.7k
- Investments
- $0.0
- Employees
- 8
- Location
- Springfield, IL
- Founding
- 05/1962
- Data as of
- 12/2021
- EIN
- 37-0807716
Organization Overview
Downtown Springfield Inc is located in Springfield, IL. The organization was established in 1962. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Downtown Springfield Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Springfield Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Downtown Springfield Inc generated $392.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $324.8k during the year ending 12/2021. While expenses have increased by 2.5% 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
TO HELP MAKE DOWNTOWN SPRINGFIELD AN IDEAL PLACE TO SHOP, WORK, VISIT, INVEST, AND LIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PRESERVE, PROMOTE AND ENHANCE SPRINGFIELD'S HISTORIC CENTRAL BUSINESS DISTRICT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kayla Graven - From July 1 Executive Director | Officer | 40 | $57,417 |
Lisa Clemmons Stott - Thru June 30 Director | Officer | 40 | $37,917 |
Kendra Boesdorfer Secretary | OfficerTrustee | 1 | $0 |
Anthony Schuering Treasurer | OfficerTrustee | 1 | $0 |
Graham Prellwitz Vice President | OfficerTrustee | 1 | $0 |
Brian Wojcicki President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $66,402 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $37,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $71,946 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,848 |
| Total Program Service Revenue | $184,422 |
| Investment income | $324 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $30,448 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $392,734 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $102,444 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,420 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,655 |
| Advertising and promotion | $5,809 |
| Office expenses | $1,432 |
| Information technology | $2,173 |
| Royalties | $0 |
| Occupancy | $8,896 |
| 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 | $5,945 |
| All other expenses | $24,588 |
| Total functional expenses | $324,839 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $182,864 |
| 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 | $4,832 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $187,696 |
| Accounts payable and accrued expenses | $1,599 |
| Grants payable | $0 |
| Deferred revenue | $200 |
| 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 | $939 |
| Total liabilities | $2,738 |
| Net assets without donor restrictions | $170,958 |
| Net assets with donor restrictions | $14,000 |
| 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 | $187,696 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Downtown Springfield Inc has recieved totaling $20,840.
| Awarding Organization | Amount |
|---|---|
Experimental Station Chicago, IL PURPOSE: SUPPORT FOR LOCAL FARMER'S MARKET | $10,000 |
Aarp Washington, DC PURPOSE: Grant to support AARP's health & nutrition initiative | $5,840 |
Levi Ray & Shoup Foundation Springfield, IL PURPOSE: TO INCREASE ECONOMIC AND CULTURAL ACTIVITY OF SPRINGFIELD'S HISTORIC DOWNTOWN DISTRICT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indiana Chamber Of Commerce Inc Indianapolis, IN | $7,894,910 | $10,261,881 |
Greater Indianapolis Chamber Of Commerce Inc Indianapolis, IN | $15,080,070 | $11,498,115 |
German-American Chamber Of Commerce Of The Midwest Chicago, IL | $9,537,423 | $9,672,106 |
Greater Milwaukee Convention & Visitors Bureau Inc Milwaukee, WI | $13,303,680 | $5,924,757 |
The Chicago Association Of Realtors Inc Chicago, IL | $11,107,922 | $7,821,690 |
Illinois Small Business Growth Corporation Springfield, IL | $2,478,514 | $7,890,542 |
Mainstreet Organization Of Realtors Downers Grove, IL | $23,598,352 | $9,176,226 |
International Society Of Transport Aircraft Traders Chicago, IL | $15,949,487 | $6,305,891 |
Indiana Association Of Realtors Inc Indianapolis, IN | $16,694,252 | $6,642,922 |
Better Business Bureau Of Greater St Louis Inc St Louis, MO | $4,281,553 | $5,139,066 |
Louisville Chamber Of Commerce Inc Louisville, KY | $4,510,911 | $5,726,033 |
Springfield Convention And Visitors Springfield, MO | $1,284,082 | $4,581,352 |