Greater Downtown Council
- Assets
- $634.6k
- Revenue
- $895.7k
- Investments
- $0.0
- Employees
- 5
- Location
- Duluth, MN
- Founding
- 11/1985
- Data as of
- 12/2021
- EIN
- 41-1467228
Organization Overview
Greater Downtown Council is located in Duluth, MN. The organization was established in 1985. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Greater Downtown Council employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Downtown Council 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, Greater Downtown Council generated $895.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $898.2k during the year ending 12/2021. While expenses have increased by 0.4% 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
PROMOTE SAFETY AND ECONOMIC DEVELOPMENT IN DOWNTOWN DULUTH, MN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE ECONOMIC DEVELOPMENT AND SAFETY IN DOWNTOWN DULUTH, MN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristi Stokes President | Trustee | 40 | $132,529 |
Regina Fodness Past Chair | OfficerTrustee | 1 | $0 |
Matt Gottwald Secretary/tr | OfficerTrustee | 1 | $0 |
Bill Olson Vice Chair | OfficerTrustee | 1 | $0 |
Jenn Ryan Chair | OfficerTrustee | 1 | $0 |
Sara Rolfson Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $220,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $64,337 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $284,337 |
| Total Program Service Revenue | $562,620 |
| Investment income | $871 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,500 |
| Net Income from Fundraising Events | $36,386 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $895,714 |
| 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 | $230,463 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $62,439 |
| Payroll taxes | $18,431 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $392 |
| Fees for services: Accounting | $11,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $23,428 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,040 |
| Travel | $2,204 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,291 |
| Insurance | $6,077 |
| All other expenses | $34,533 |
| Total functional expenses | $898,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225 |
| Savings and temporary cash investments | $475,848 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $110,658 |
| 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 | $36,022 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,800 |
| Total assets | $634,553 |
| Accounts payable and accrued expenses | $133,254 |
| Grants payable | $0 |
| Deferred revenue | $152,302 |
| 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 | $285,556 |
| Net assets without donor restrictions | $301,050 |
| Net assets with donor restrictions | $47,947 |
| 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 | $634,553 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Downtown Council has recieved totaling $5,900.
| Awarding Organization | Amount |
|---|---|
St Lukes Hospital Of Duluth Duluth, MN PURPOSE: SPONSORSHIP | $5,900 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milwaukee Development Corporation Milwaukee, WI | $4,444,230 | $23,219,043 |
Minnesota Continuing Legal Education St Paul, MN | $8,925,576 | $6,672,774 |
Cedar Valley Friends Of The Family Inc Waterloo, IA | $2,837,799 | $5,986,099 |
Dairy Lab Services Inc Dubuque, IA | $2,147,827 | $2,967,894 |
Northfield Healthy Community Initiative Northfield, MN | $2,436,956 | $3,116,991 |
Greater Green Bay Chamber Of Commerce Foundation Inc Green Bay, WI | $2,890,843 | $1,952,883 |
Souris Basin Planning Council Minot, ND | $2,307,834 | $2,465,204 |
Roth & Letch Family Charitable Foundation Dakota Dunes, SD | $32,020,107 | $0 |
Association Of Equipment Management Professionals Inc Middleton, WI | $87,248 | $1,345,748 |
Sheet Metal Local 10 Control Board Trust Fund Maplewood, MN | $2,121,090 | $1,230,944 |
Greater Downtown Council Duluth, MN | $634,553 | $895,714 |
Friends Of The Goss Opera House Inc Watertown, SD | $5,044,640 | $1,355,327 |