Bloomfield Main Street Inc
- Assets
- $132.5k
- Revenue
- $93.6k
- Investments
- $0.0
- Employees
- 1
- Location
- Bloomfield, IA
- Founding
- 05/2001
- Data as of
- 12/2021
- EIN
- 42-1508696
Organization Overview
Bloomfield Main Street Inc is located in Bloomfield, IA. The organization was established in 2001. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Bloomfield Main Street Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Bloomfield Main Street Inc generated $93.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (35.3%) each year. All expenses for the organization totaled $67.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (37.4%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
STIMULATE DOWNTOWN ECONOMIC DEVELOPMENT IN BLOOMFIELD, IOWA THROUGH ORGANIZATION, PROMOTION OF POSITIVE IMAGE, DESIGN (IMPROVING APPEARANCE OF DOWNTOWN), AND TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS IN CONNECTION WITH ACTIVITIES RELATED TO THE ABOVE PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION AND HISTORIC PRESERVATION OF BUILDINGS IN BLOOMFIELD, IOWA. PROMOTION OF ACTIVITIES WITHIN THE HISTORIC DISTRICT TO ATTRACT INTEREST AND TOURISM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Spurgeon Secretary | OfficerTrustee | $0 | |
Ron Bride County Repre | Trustee | $0 | |
Jeremiah Campbell Director | Trustee | $0 | |
Doug Dixon Director | Trustee | $0 | |
Alexis Henderson Treasurer | Trustee | $0 | |
Lexis Frymoyer President | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,520 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $55,250 |
| 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 | $61,770 |
| Total Program Service Revenue | $21,930 |
| Investment income | $66 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,818 |
| 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 | $93,584 |
| 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 | $8,462 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,650 |
| Fees for services: Management | $14,596 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,521 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,311 |
| Travel | $1,137 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,535 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $923 |
| Insurance | $5,448 |
| All other expenses | $375 |
| Total functional expenses | $67,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $104,896 |
| 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 | $27,631 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $132,527 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $24,754 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $24,754 |
| Net assets without donor restrictions | $107,773 |
| 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 | $132,527 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bloomfield Main Street Inc has recieved totaling $120.
| Awarding Organization | Amount |
|---|---|
James And Cleo Hamilton Family Charitable Trust Detroit, MI PURPOSE: GENERAL | $120 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lakes And Pines Community Action Council Inc Mora, MN | $3,434,723 | $9,795,071 |
Community Action Inc Of Rock And Walworth Counties Beloit, WI | $10,640,793 | $9,364,558 |
Health Care Coalition Of Lafayette County Lexington, MO | $6,605,075 | $10,749,967 |
Southwest Organizing Project Chicago, IL | $8,393,250 | $8,859,182 |
Better Family Life Inc Saint Louis, MO | $13,300,452 | $8,576,793 |
Center For People In Need Inc Lincoln, NE | $4,396,742 | $7,753,507 |
Kootasca Community Action Inc Grand Rapids, MN | $3,733,183 | $8,667,071 |
Impact Seven Incorporated Rice Lake, WI | $149,638,063 | $17,926,158 |
North Central Community Action Program Inc wisconsin rapids, WI | $2,366,497 | $7,790,312 |
St Paul Auto Dealers And District 77 Lodge Iamaw Joint Fund Bloomington, MN | $6,441,158 | $6,840,517 |
Cortex St Louis, MO | $86,543,841 | $5,279,863 |
Chicago Community Loan Fund Chicago, IL | $136,728,558 | $16,943,178 |