50th & France Business & Professional Assn
- Assets
- $98.6k
- Revenue
- $431.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Edina, MN
- Founding
- 01/1955
- Data as of
- 12/2022
- EIN
- 41-1366251
Organization Overview
50th & France Business & Professional Assn is located in Edina, MN. The organization was established in 1955. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, 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. 50th & France Business & Professional Assn 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 12/2022, 50th & France Business & Professional Assn generated $431.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $431.6k during the year ending 12/2022. While expenses have increased by 1.7% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION PROMOTES THE GENERAL WELFARE AND ECONOMIC WELL-BEING OF THE 50TH AND FRANCE BUSINESS DISTRICT AND ACCOMPLISHES MORE COLLECTIVELY THAN COULD BE ACHIEVED INDIVIDUALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP - WE OFFER MANY BENEFITS TO OUR MEMBERS SUCH AS: WEBSITE PAGE, NETWORKING EVENTS, MONTHLY NEWSLETTER, EVENTS, GENERIC ADVERTISING, BEATIFICATION PROJECTS, AND OPPORTUNITIES TO PROMOTE BUSINESS EVENTS ON SOCIAL MEDIA. THE ASSOCIATION ACTS AS A PLACE OF INFORMATION, A LIAISON WITH BOTH CITY DISTRICTS, A PLACE TO VOICE OPINIONS OR CONCERNS. CHANGES MEMBERS WOULD LIKE TO ACCOMPLISH ARE DRIVEN DIRECTLY BY THE ASSOCIATION. WE ARE THE BRIDGE FROM BUSINESS TO BUSINESS AND CITY TO CITY.
EVENTS - WE HOST EDINA ART FAIR, LADIES NIGHT OUT, FASHION NIGHT OUT, HOLIDAY TREE LIGHTING, AND A PUMPKIN FEST EVENT IN WHICH WE HOST AT 50TH & FRANCE. EACH EVENT DRAWS IN VISITORS ANYWHERE FROM 300-100,000 PEOPLE DEPENDING ON THE EVENT. EVENTS DRIVE TRAFFIC TO THE BUSINESS DISTRICT AND DIRECTLY HELP BUSINESSES INCREASE SALES. EACH EVENT IS OPEN FOR MEMBERS TO PARTICIPATE IN AS A PART OF THEIR ANNUAL MEMBERSHIP DUES. EACH EVENT HAS GROWN IN SIZE EVERY YEAR DUE TO THE ADVERTISING WE DO AND SUCCESS OF PARTICIPATION FROM STORE AND INTEREST LEVEL FROM THE PUBLIC. WE HAVE OVER 50% PARTICIPATION LEVEL FROM OUR MEMBERS IN EVENTS WE HOST
MARKETING/PROMOTION - WE ADVERTISE EVENTS AND GENERICALLY ADVERTISE SHOPPING FOR 50TH & FRANCE. THROUGH OUR EFFORTS OF PROMOTING THE AREA WE HAVE BECOME A DESTINATION. THE PROMOTIONS WE HAVE DONE DIRECTLY INCREASED SALES FOR BUSINESSES, BROUGHT NEW BUSINESS TO THE AREA, AND KEPT 50TH & FRANCE IN THE MEDIA WEEKLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Weber Past President | Trustee | 0 | $0 |
Jenifer Kent Treasurer | OfficerTrustee | 0 | $0 |
Peter Deanovic Director | Trustee | 0 | $0 |
Andrea Hunt Vice President | Trustee | 0 | $0 |
Patti Marrin President | OfficerTrustee | 0 | $0 |
Jackie Wallin Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $431,668 |
| Investment income | $105 |
| 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 | $431,773 |
| 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 | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $195,695 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,510 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $35,938 |
| Office expenses | $2,262 |
| Information technology | $1,964 |
| Royalties | $0 |
| Occupancy | $17,803 |
| 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 | $4,085 |
| All other expenses | $355 |
| Total functional expenses | $431,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,531 |
| Savings and temporary cash investments | $50,377 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,656 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $98,564 |
| Accounts payable and accrued expenses | $7,033 |
| Grants payable | $0 |
| Deferred revenue | $1,731 |
| 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 | $1,644 |
| Total liabilities | $10,408 |
| Net assets without donor restrictions | $88,156 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $98,564 |