Downtownabq Mainstreet Initiative
- Assets
- $218.7k
- Revenue
- $479.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Albuquerque, NM
- Founding
- 07/2014
- Data as of
- 12/2022
- EIN
- 46-4750143
Organization Overview
Downtownabq Mainstreet Initiative is located in Albuquerque, NM. The organization was established in 2014. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Downtownabq Mainstreet Initiative employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtownabq Mainstreet Initiative is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Downtownabq Mainstreet Initiative generated $479.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $406.3k during the year ending 12/2022. While expenses have increased by 6.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE DOWNTOWNABQ MAINSTREET INITIATIVE IS A COMMUNITY REDEVELOPMENT ORGANIZATION. OUR MISSION IS TO PROMOTE AND SUPPORT DOWNTOWNS ECONOMIC, SOCIAL, AND CREATIVE VITALITY THROUGH COMMUNITY-DRIVEN PROJECTS AND PROGRAMS. A REVITALIZED AND VIBRANT DOWNTOWN IS A SYMBOL OF COMMUNITY ECONOMIC HEALTH, LOCAL QUALITY OF LIFE, PRIDE, AND COMMUNITY IDENTITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOWNTOWN GROWER'S MARKET - THE MARKET IS HOME TO OVER 75 NEW MEXICAN GROWERS OFFERING THE HIGHEST QUALITY PRODUCE AVAILABLE IN ALBUQUERQUE, ALONG WITH A WIDE ARRAY OF TALENTED LOCAL ARTISTS AND A DELICIOUS MIX OF PREPARED FOOD ARTISANS. EVERY WEEK WE FEATURE A LIVE BAND, COMMUNITY NONPROFITS, A BIKE VALET SERVICE, AND LOTS OF COMMUNITY SPIRIT! ALL ARE WELCOME! 70,000 INDIVIDUALS WERE SERVED.
DOWNTOWN MAINSTREET FISCAL AGENT PASSTHRU EXPENSES.
ART AND CULTURAL DISTRICT THE DOWNTOWN ARTS & CULTURAL DISTRICT, MADE UP OF ROUGHLY 30 BLOCKS IN AND AROUND THE CENTRAL AVENUE CORRIDOR, WORKS TO SUPPORT AND PROMOTE CREATIVE WORK / LOCAL BUSINESSES AND INSTITUTIONS, AND INCREASE VISITORS TO THE AREA. ALBUQUERQUE'S DOWNTOWN IS HOME TO A UNIQUE ARRAY OF ASSETS, INCLUDING ARTISTS, DESIGNERS, FILMMAKERS, GALLERIES, MUSEUMS, THEATERS, MUSICIANS, MUSIC VENUES, CITY FESTIVALS, RESTAURANTS, FOOD TRUCKS / KITCHENS, BREWERIES, COFFEE SHOPS, AND CREATIVE ENTREPRENEURS LIVING AND WORKING IN BOTH FORMAL AND INFORMAL SPACES. 20,000 INDIVIDUALS WERE SERVED.
DOWNTOWN PLACEMAKING FROM OUR INITIAL PROGRAM TO BRING COMMUNITY PLACEMAKING TO CIVIC PLAZA WHICH BEGAN IN 2014, WE HAVE GROWN THE PROGRAM TO BRING PLACEMAKING TO THE LARGER DOWNTOWN. THROUGH PROGRAMMING WITH ARTWALK, A MONTHLY DOWTOWN ARTS CRAWL EVENT WHICH WE SUPPORT THROUGH GRANT WRITING, EVENT COORDINATION, PERMITTING, AND PROMOTION, TO THE DOWNTOWN RAIL TRAIL COMMUNITY ENGAGEMENT PROJECT, TO PROGRAMS FOR MURALS AND POP UP MUSIC AND FOOD EVENTS, WE STRIVE TO BRING VITALITY TO DOWNTOWN'S VACANT AND UNDERUTILIZED SPACES. THESE PROGRAMS ARE ESSENTIAL TO BRINGING ECONOMIC OPPORTUNITY TO OUR DOWNTOWN BUSINESSES AND ORGANIZATIONS WHILE PROVIDING COMMUNITY FRIENDLY EVENTS FOR OUR RESIDENTS AND VISITORS. OVER 25,000 INDIVIDUALS WERE SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Rammelsberg President | OfficerTrustee | 3 | $0 |
Michael Phlieger Director | OfficerTrustee | 1 | $0 |
Jesus Munoz Treasurer | Trustee | 1 | $0 |
Julia Youngs Director | Trustee | 1 | $0 |
Laurie Roach Director | Trustee | 1 | $0 |
Monica Bencomo Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $182,430 |
| All other contributions, gifts, grants, and similar amounts not included above | $120,708 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $303,138 |
| Total Program Service Revenue | $174,352 |
| Investment income | $25 |
| 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 | $1,461 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $478,976 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $588 |
| 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 | $169,519 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,650 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,410 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,452 |
| Advertising and promotion | $608 |
| Office expenses | $10,611 |
| Information technology | $7,482 |
| Royalties | $0 |
| Occupancy | $34,572 |
| Travel | $650 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,374 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,290 |
| Insurance | $4,337 |
| All other expenses | $1,102 |
| Total functional expenses | $406,340 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $213,369 |
| 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 | $2,177 |
| Net Land, buildings, and equipment | $3,143 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $218,689 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,011 |
| Total liabilities | $25,011 |
| Net assets without donor restrictions | $193,678 |
| 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 | $218,689 |
Grants Awarded
Over the last fiscal year, Downtownabq Mainstreet Initiative has awarded $23,140 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ENCHANTED POP-UP PURPOSE: Artwalk grant | $13,140 |
THE OT CIRCUS PURPOSE: Activate the Alleys project | $10,000 |