Downtown Huntsville Inc
- Assets
- $404.5k
- Revenue
- $565.3k
- Investments
- $0.0
- Employees
- 7
- Location
- Huntsville, AL
- Founding
- 07/2013
- Data as of
- 12/2021
- EIN
- 46-2226669
Organization Overview
Downtown Huntsville Inc is located in Huntsville, AL. The organization was established in 2013. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Downtown Huntsville Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Huntsville 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 Huntsville Inc generated $565.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $576.1k during the year ending 12/2021. While expenses have increased by 0.5% 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
DOWNTOWN HUNTSVILLE INC IS COMMITTED TO CREATING A VIBRANT, DIVERSE AND ECONOMICALLY SUSTAINABLE DOWNTOWN HUNTSVILLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOWNTOWN HUNTSVILLE INC IS THE ECONOMIC ENGINE AND CHAMPION FOR A VIBRANT DOWNTOWN. (A) URBAN ENVIRONMENT MASTER PLANNING (B) BUSINESS DEVELOPMENT (C) ADVOCACY & PUBLIC POLICY (D) MARKETING & PUBLIC RELATIONS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Emerson CEO | Officer | 40 | $194,287 |
William Stroud Director | OfficerTrustee | 1 | $0 |
Graham Burgess Director | OfficerTrustee | 1 | $0 |
Lafreeda Jordan Secretary | OfficerTrustee | 1 | $0 |
Stephanie Kennedy-Mell Director | OfficerTrustee | 1 | $0 |
Patrick Quirk Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $118,050 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $118,050 |
| Total Program Service Revenue | $402,430 |
| Investment income | $35 |
| 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 | $565,287 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,497 |
| 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. | $194,287 |
| Compensation of current officers, directors, key employees. | $97,143 |
| Compensation to disqualified persons | $106,893 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $5,237 |
| Other employee benefits | $29,805 |
| Payroll taxes | $20,587 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,268 |
| Office expenses | $7,475 |
| Information technology | $5,259 |
| Royalties | $0 |
| Occupancy | $15,600 |
| Travel | $4,179 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,725 |
| All other expenses | $0 |
| Total functional expenses | $576,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,858 |
| Savings and temporary cash investments | $334,593 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $404,451 |
| Accounts payable and accrued expenses | $7,437 |
| 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 | $7,437 |
| 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 | $397,014 |
| Total liabilities and net assets/fund balances | $404,451 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Mississippi Planning And Development District Inc Gulfport, MS | $44,385,657 | $33,837,059 |
Metro Atlanta Host Committee Inc Atlanta, GA | $222,399 | $14,582,853 |
Tampa Bay Convention & Visitors Bureau Inc Tampa, FL | $9,049,029 | $16,723,785 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
Discover Palm Beach County Inc West Palm Beach, FL | $6,257,115 | $17,672,568 |
Step Up Suncoast Inc Sarasota, FL | $3,209,226 | $16,919,808 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
East Central Planning & Development District Inc<410 Decatur St Newton, MS | $22,970,956 | $8,929,943 |