Downtown Provo Inc
- Assets
- $14.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Provo, UT
- Founding
- 05/2013
- Data as of
- 12/2021
- EIN
- 45-3910530
Organization Overview
Downtown Provo Inc is located in Provo, UT. The organization was established in 2013. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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 Provo 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 Provo Inc generated $131.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $154.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 7 years. 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
THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED AT ALL TIMES EXCLUSIVELY FOR EXEMPT PURPOSES WITHIN THE MEANING OF SECTION 501C6 OF THE INTERNAL REVENUE CODE OF 1986 AND ITS REGULATIONS AS THEY NOW EXIST OR AS THEY MAY HEREAFTER BE AMENDED. THE CORPORATION IS NOT ORGANIZED FOR PROFIT AND WILL NOT ENGAGE IN ANY ACTIVITY ORDINARILY CARRIED ON FOR PROFIT. SUBJECT TO THE FOREGOING, THE SPECIFIC PURPOSES AND OBJECTIVES FOR WHICH THIS CORPORATION IS ORGANIZED ARE TO PROMOTE GROWTH, FOSTER DEVELOPMENT AND ENCOURAGE ACTIVITIES WITHIN THE PROVO CITY DOWNTOWN BUSINESS AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Quinn D Peterson Executive Dir. | 40 | $79,084 | |
Joel Raker Director | 0 | $0 | |
Michael Hilbig Director | 0 | $0 | |
Curtis Blair Director | 0 | $0 | |
Gary Winterton Director | 0 | $0 | |
Peter Jay Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $131,792 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $131,792 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $107,942 |
| Professional fees and other payments to independent contractors | $4,515 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $33 |
| Other expenses | $41,496 |
| Total expenses | $153,986 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $12,922 |
| Other assets | $0 |
| Total assets | $14,845 |
| Total liabilities | $3,072 |
| Net assets or fund balances | $11,773 |
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