Midtown Raleigh Alliance Inc
- Assets
- $84.1k
- Revenue
- $134.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Raleigh, NC
- Founding
- 04/2012
- Data as of
- 12/2023
- EIN
- 45-2559048
Organization Overview
Midtown Raleigh Alliance Inc is located in Raleigh, NC. The organization was established in 2012. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Midtown Raleigh Alliance Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midtown Raleigh Alliance 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, Midtown Raleigh Alliance Inc generated $134.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $128.3k during the year ending 12/2023. 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 ALLIANCE SERVES AS AN IMPORTANT LINK IN THE ONGOING PUBLIC DIALOG AND CITY/COUNTY PLANNING AROUND THE ISSUES OF TRANSIT, CONNECTIVITY, CORRIDOR DEVELOPMENT, AND SMART GROWTH. THE ALLIANCE WILL ALSO SERVE AS AN IMPORTANT CATALYST IN THE LIFE OF OUR COMMUNITY, CREATING NEW OPPORTUNITIES FOR CONSTITUENT GROUPS TO ENGAGE WITH ONE ANOTHER, OFFER CULTURAL EVENTS, FOSTER EDUCATION, AND ENHANCE LEISURE ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MIDTOWN RALEIGH ALLIANCE WILL ESTABLISH WORKING RELATIONSHIPS WITH CITY COUNCILORS, NORTH CAROLINA HOUSE AND SENATE MEMBERS, AND U.S. CONGRESSMEN, ALL OF WHOM REPRESENT PORTIONS OF MIDTOWN AS WELL AS OTHER CONSTITUENCIES. THESE RELATIONSHIPS WILL PROVIDE A LISTENING PRESENCE IN THE PUBLIC PROCESS AND ADVOCACY ON BEHALF OF MIDTOWN STAKEHOLDERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Irby Chairperson | OfficerTrustee | 2 | $0 |
Jevon Peterson Vice Chairperson | OfficerTrustee | 2 | $0 |
Bret Burgess Treasurer | OfficerTrustee | 2 | $0 |
Charis Painter Secretary | OfficerTrustee | 2 | $0 |
Jason Andrews Board Member | Trustee | 1 | $0 |
Mark Morriston Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $70,150 |
| Related organizations | $0 |
| Government grants | $15,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $305 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $85,455 |
| Total Program Service Revenue | $116,575 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$67,396 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $134,634 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $300 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $79,610 |
| Compensation of current officers, directors, key employees. | $15,922 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,455 |
| Pension plan accruals and contributions | $3,392 |
| Other employee benefits | $0 |
| Payroll taxes | $6,935 |
| 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 | $849 |
| Advertising and promotion | $2,455 |
| Office expenses | $6,879 |
| Information technology | $2,239 |
| Royalties | $0 |
| Occupancy | $1,607 |
| Travel | $1,470 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,350 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $815 |
| All other expenses | $0 |
| Total functional expenses | $128,253 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,624 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,450 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $84,074 |
| Accounts payable and accrued expenses | $128 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $128 |
| Net assets without donor restrictions | $0 |
| 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 | $83,946 |
| Total liabilities and net assets/fund balances | $84,074 |