Downtown Partners Inc
- Assets
- $385.1k
- Revenue
- $390.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Burlington, IA
- Founding
- 08/1997
- Data as of
- 12/2021
- EIN
- 42-1449669
Organization Overview
Downtown Partners Inc is located in Burlington, IA. The organization was established in 1997. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., 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 Partners 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 Partners Inc generated $390.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $292.1k during the year ending 12/2021. While expenses have increased by 2.7% 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
THE MISSION OF DOWNTOWN PARTNERS IS TO PRESERVE AND REVITALIZE DOWNTOWN BURLINGTON BY ENHANCING ITS ECONOMY, INFRASTRUCTURE, AND HISTORICAL AND CULTURAL FEATURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOWNTOWN PARTNERS COORDINATES RETAIL AND INSTITUTIONAL, PROMOTIONS, MAJOR EVENTS WERE SIP, TASTE AND STROLL, HOLIDAY PARADE, LIVING WINDOWS, SANTA'S COTTAGE, MOVIE NIGHTS, FARMER'S MARKET AND A VERY VINTAGE FESTIVAL.
DOWNTOWN PARTNERS PROVIDES MONEY FOR DOWNTOWN DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barb Gerst CFO | Officer | 5 | $9,818 |
Julie Lehman Past Chairma | OfficerTrustee | $0 | |
Jerry Johnson Chairperson | OfficerTrustee | $0 | |
Todd Darnell Chair-Elect | OfficerTrustee | $0 | |
Tom Burch Treasurer | OfficerTrustee | $0 | |
Della D Schmidt President | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $97,400 |
| Government grants | $134,041 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $313,941 |
| Total Program Service Revenue | $76,840 |
| Investment income | $26 |
| 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 | $390,807 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $75,000 |
| 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. | $9,818 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $89,643 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,086 |
| Payroll taxes | $7,900 |
| 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 | $10,694 |
| Advertising and promotion | $649 |
| Office expenses | $3,875 |
| Information technology | $4,950 |
| Royalties | $0 |
| Occupancy | $13,528 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,910 |
| Interest | $5,672 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $118 |
| All other expenses | $471 |
| Total functional expenses | $292,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $199,232 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,539 |
| 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 | $355 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $175,000 |
| Total assets | $385,126 |
| Accounts payable and accrued expenses | $11,277 |
| Grants payable | $0 |
| Deferred revenue | $500 |
| 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 | $90,000 |
| Other liabilities | $60,000 |
| Total liabilities | $161,777 |
| Net assets without donor restrictions | $215,944 |
| Net assets with donor restrictions | $7,405 |
| 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 | $385,126 |
Grants Awarded
Over the last fiscal year, Downtown Partners Inc has awarded $245,052 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTHEAST IOWA REGIONAL PLANNING COM PURPOSE: UPPER STORY | $120,000 |
SKY & SEA PROPERTIES PURPOSE: I-JOBS | $87,552 |
STEEPLETOWN DEVELOPMENT LLC PURPOSE: MAIN STREET | $37,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Downtown Partners Inc has recieved totaling $97,400.
| Awarding Organization | Amount |
|---|---|
Burlington West Burlington Area Development Foundation Burlington, IA | | $50,000 |
Burlington-West Burlington Area Chamber Of Commerce Burlington, IA PURPOSE: GENERAL SUPPORT | $47,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milwaukee Electrical Industry Vacation - Holiday Plan Wauwatosa, WI | $15,465,835 | $13,612,321 |
Northeast Nebraska Community Action Partnership Inc Pender, NE | $3,455,970 | $8,987,958 |
Seton Property Corporation Of North Alabama St Louis, MO | $50,940,533 | $5,932,254 |
Gopher State One-Call Inc Minneapolis, MN | $13,617,385 | $7,412,499 |
Downtown Parking Management Inc Cedar Rapids, IA | $2,652,564 | $2,696,142 |
St Marys Building Corporation St Louis, MO | $40,020,947 | $3,125,452 |
Providence Building Corporation Inc St Louis, MO | $6,600,443 | $3,711,993 |
Austin Peoples Action Center Chicago, IL | $1,169,247 | $2,618,671 |
Scott County Regional Authority Bettendorf, IA | $3,455,493 | $3,293,735 |
Choose Chicago Foundation Chicago, IL | $859,781 | $2,550,000 |
Delta Institute Chicago, IL | $8,129,187 | $1,847,841 |
Experimental Station Chicago, IL | $1,624,397 | $2,920,468 |