Sodo Business Improvement Area
- Assets
- $488.9k
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 8
- Location
- Seattle, WA
- Founding
- 09/2015
- Data as of
- 12/2022
- EIN
- 47-1278728
Organization Overview
Sodo Business Improvement Area is located in Seattle, WA. The organization was established in 2015. According to its NTEE Classification (S22) the organization is classified as: Neighborhood & Block Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Sodo Business Improvement Area employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sodo Business Improvement Area 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 12/2022, Sodo Business Improvement Area generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 11.7% per year over the past 8 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
TO ENHANCE TRANSPORTATION, SAFETY, AND CLEANLINESS FOR THE BENEFIT OF PROPERTY OWNERS, TENANTS, BUSINESSES, PATRONS AND EMPLOYEES OF THE SODO AREA OF SEATTLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MOVE SODO: UNDERSTAND AND EVALUATE THE CURRENT SODO TRANSPORTATION PLAN AS IT RELATES SPECIFICALLY TO TRANSPORTATION PROJECTS WITHIN THE SODO BIA BOUNDARIES.
OTHER PROGRAM SERVICES ECONOMIC SODO FOCUSES ON ENSURING THAT THE SODO COMMUNITY IS SUPPORTED, SECURE, AND HAS THE RESOURCES TO THRIVE AND GROW, BY PROVIDING KEY DATA AND CONNECTIONS TO DECISION-MAKERS.
CLEAN & SAFE SODO: CONTRACT FOR SERVICES TO MAINTAIN A CLEAN ENVIRONMENT FOR SODO EMPLOYEES. 2021 SERVICES INCUDES A CONTRACT FOR BI-WEEKLY STREET SWEEPING AND A CONTRACT TO CONDUCT QUARTERLY SIDEWALK CLEANINGS INCLUDING ILLEGAL DUMPING REMOVAL. SUPPORTED GRAFFITI PREVENTION THROUGH FUNDING FOR PUBLIC ART. CONTRACTED WITH THE SEATTLE POLICE DEPARTMENT TO PROVIDE OFF-DUTY PATROLS TO ADDRESS CHRONIC CRIME AND NUISANCE ISSUES IN SODO. WE ALSO MAINTAIN A CONTRACT WITH EVERGREEN TREATMENT SERVICES FOR HOMELESS OUTREACH IN OUR GEOGRAPHICAL DISTRICT.
ENGAGE SODO: INCREASE COMMUNICATION AND INTERACTION WITHIN SODO SO THAT THE BIA MOST EFFECTIVELY REPRESENTS THE INTERESTS AND EXECUTES THE PRIORITIES OF SODO BIA BUSINESS AND PROPERTY OWNERS. LEVERAGE INFLUENCE AND INVESTMENTS TO IMPROVE THE CONDITIONS OF THE DISTRICT FOR COMMERCE TO THRIVE IN SODO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Biesold President | OfficerTrustee | 1 | $0 |
Wil Lavaris Vice President | OfficerTrustee | 1 | $0 |
Chad Zinda Secretary | OfficerTrustee | 1 | $0 |
Robin Howard Treasurer | OfficerTrustee | 2 | $0 |
Daniel Byrne Director | Trustee | 1 | $0 |
Ken Clark Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,569,704 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,569,704 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,713 |
| 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. | $175,000 |
| Compensation of current officers, directors, key employees. | $35,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $270,632 |
| Pension plan accruals and contributions | $10,403 |
| Other employee benefits | $40,158 |
| Payroll taxes | $41,883 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,760 |
| Fees for services: Accounting | $10,321 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $561,844 |
| Advertising and promotion | $12,204 |
| Office expenses | $19,568 |
| Information technology | $19,298 |
| Royalties | $0 |
| Occupancy | $40,007 |
| Travel | $15,155 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,574 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,066 |
| Insurance | $7,960 |
| All other expenses | $3,839 |
| Total functional expenses | $1,311,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $287,840 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $165,726 |
| 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 | $35,336 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $488,902 |
| Accounts payable and accrued expenses | $109,840 |
| 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 | $109,840 |
| Net assets without donor restrictions | $281,062 |
| Net assets with donor restrictions | $98,000 |
| 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 | $488,902 |