Northfield Downtown Development Corporation
- Assets
- $52.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Northfield, MN
- Founding
- 06/2002
- Data as of
- 12/2021
- EIN
- 41-2004424
Organization Overview
Northfield Downtown Development Corporation is located in Northfield, MN. The organization was established in 2002. 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. Northfield Downtown Development Corporation 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, Northfield Downtown Development Corporation generated $91.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $71.5k during the year ending 12/2021. While expenses have increased by 6.5% 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
PROVIDED SERVICES TO BUSINESSES, PROPERTY OWNERS, AND VISITORS THAT INCREASED THE VITALITY OF DOWNTOWN NORTHFIELD AND IMPROVED THE VISITOR EXPERIENCE, INCLUDING: -DISTRIBUTION OF INFORMATION ABOUT THE DOWNTOWN DISTRICT TO HOUSEHOLDS THROUGH IN-HOME VISITS BY THE LOCAL WELCOME SERVICE. -DAILY COMMUNICATIONS WITH OVER 3500 FACEBOOK FOLLOWERS. -PROVIDED INFORMATION ABOUT THE DOWNTOWN DISTRICT TO 5,000 COLLEGE STUDENTS ARRIVING ON CAMPUS EACH FALL. -HOSTED THE DOWNTOWN NORTHFIELD TASTE TOUR FOOD CRAWL. -ROLLED OUT A NEW INITIATIVE THIS YEAR CALLED FIRST FRIDAY ART NIGHT. -PROVIDE CONTRACTED SERVICES TO THE CITY OF NORTHFIELD. -WORK WITH MAIN STREET MINNESOTA, WHICH NORTHFIELD IS NOW A MAIN STREET DESIGNATED CITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlie Kyte Board Member | 1 | $0 | |
Kathleen Holmes President | 10 | $0 | |
Christopher Chapman Vice Preside | 2 | $0 | |
Mark Lancaster Board Member | 1 | $0 | |
Christopher Tassava Secretary | 2 | $0 | |
Sherri Meyers Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,664 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $1,680 |
| Total Revenue | $91,344 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $24,398 |
| Professional fees and other payments to independent contractors | $4,396 |
| Occupancy, rent, utilities, and maintenance | $6,880 |
| Printing, publications, postage, and shipping | $1,110 |
| Other expenses | $11,814 |
| Total expenses | $71,458 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $52,004 |
| Other assets | $0 |
| Total assets | $52,553 |
| Total liabilities | $2,339 |
| Net assets or fund balances | $50,214 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Northfield Downtown Development Corporation has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
Wings Financial Foundation Apple Valley, MN PURPOSE: CHARITABLE CONTRIBUTIONS | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |
Great Plains Institute For Sustainable Development Minneapolis, MN | $9,896,004 | $8,891,636 |
Minneapolis - St Paul Regional Economic Development Partnership Saint Paul, MN | $5,371,081 | $6,502,146 |
Madison Development Corporation Madison, WI | $34,294,523 | $5,181,232 |
Center For Economic Inclusion Saint Paul, MN | $9,315,769 | $9,776,985 |
Greater Madison Convention & Visitor Bureau Inc Madison, WI | $7,711,633 | $4,933,152 |
Nextstage Bloomington, MN | $2,654,997 | $4,431,008 |
Grow South Dakota Sisseton, SD | $70,205,734 | $6,159,440 |
Wolf Run Village Inc Watford City, ND | $13,751,715 | $5,775,669 |
Minnesota Business Finance Corporation St Cloud, MN | $6,710,385 | $3,673,437 |
Madison Region Economic Partnership Inc Madison, WI | $2,651,221 | $3,362,304 |