Downtown Partners Inc
- Assets
- $241.4k
- Revenue
- $214.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Burlington, IA
- Founding
- 08/1997
- Data as of
- 12/2023
- 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 12/2023, Downtown Partners Inc generated $214.3k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $213.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 9 years. 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
2023
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 IS A CERTIFIED MAIN STREET IOWA ORGANIZATION THAT HELPS IMPROVE THE SOCIAL AND ECONOMIC WELL-BEING OF THE BURLINGTON COMMUNITY BY IDENTIFYING IT'S UNIQUE ASSETS AND CHARACTER AND REVITALIZING ITS HISTORIC COMMERCIAL DISTRICT. THE ORGANIZATION ALSO HELPS BUSINESSES PREPARE AND APPLY FOR REVITALIZATION ACTIVITIES AND GRANTS.
DOWNTOWN PARTNERS COORDINATES EVENTS AND PROMOTIONS. MAJOR EVENTS IN 2023 WERE: FARMER'S MARKET, A VERY VINTAGE MARKET, SIP, TASTE & STROLL, WITCHES NIGHT OUT, HOLIDAY PARADE AND LIVING WINDOWS AND OTHER EVENTS THAT PROMOTE BUSINESSES AND VITALITY IN DOWNTOWN BURLINGTON.
DOWNTOWN PARTNERS PROMOTES BEAUTIFICATION IN DOWNTOWN BURLINGTON AND HELPS WITH DOWNTOWN VITALITY BY SUPPORTING AND PROVIDING GRANTS FOR DEVELOPMENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Della Schmidt President | Officer | $0 | |
Mary Beth Sanchez CFO | Officer | 5 | $7,149 |
Mercedes Ponce Chair | OfficerTrustee | 1 | $0 |
Todd Darnall Past Chair | OfficerTrustee | 1 | $0 |
Todd Ackerman Chair-Elect | OfficerTrustee | 1 | $0 |
Tom Burch Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $50,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,633 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $135,633 |
| Total Program Service Revenue | $77,941 |
| Investment income | $1,708 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,791 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $214,311 |
| 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. | $8,409 |
| Compensation of current officers, directors, key employees. | $765 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $99,746 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,966 |
| Payroll taxes | $7,734 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,105 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $171 |
| Office expenses | $1,323 |
| Information technology | $6,196 |
| Royalties | $0 |
| Occupancy | $11,997 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,346 |
| Interest | $2,621 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $375 |
| Insurance | $853 |
| All other expenses | $1,570 |
| Total functional expenses | $212,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $236,203 |
| 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 | $0 |
| Net Land, buildings, and equipment | $5,212 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $241,415 |
| Accounts payable and accrued expenses | $174 |
| Grants payable | $0 |
| Deferred revenue | $4,175 |
| 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 | $4,349 |
| Net assets without donor restrictions | $237,066 |
| 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 | $241,415 |
Grants Awarded
Over the last fiscal year, Downtown Partners Inc has awarded $245,052 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SKY & SEA PROPERTIES PURPOSE: I-JOBS | $87,552 |
SOUTHEAST IOWA REGIONAL PLANNING COM PURPOSE: UPPER STORY | $120,000 |
STEEPLETOWN DEVELOPMENT LLC PURPOSE: MAIN STREET | $37,500 |