Downtown Roanoke Incorporated
- Assets
- $1.1m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 27
- Location
- Roanoke, VA
- Founding
- 01/1984
- Data as of
- 06/2022
- EIN
- 54-0681034
Organization Overview
Downtown Roanoke Incorporated is located in Roanoke, VA. The organization was established in 1984. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Downtown Roanoke Incorporated employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Roanoke Incorporated 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 06/2022, Downtown Roanoke Incorporated generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 7 years. 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
DOWNTOWN ROANOKE, INC - MAKING YOUR DOWNTOWN EXPERIENCE EXCEPTIONAL THROUGH PROGRAMS, MARKETING, EVENTS, ECONOMIC DEVELOPMENT, ADVOCACY AND LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS CHARTERED IN 1960 TO PROVIDE LEADERSHIP AND SUPPORT FOR THE DOWNTOWN AREA, AND TO UNITE ITS CITIZENS WITH A COMMON DESIRE TO PRESERVE THE CHARACTER OF THE PAST WHILE PURSUING INNOVATIVE DEVELOPMENT PLANS FOR THE FUTURE. THE ORGANIZATION IS THE DOWNTOWN'S PRIMARY ECONOMIC DEVELOPMENT ORGANIZATION IN PARTNERSHIP WITH THE CITY OF ROANOKE, DOWNTOWN PROPERTY OWNERS, AND THE BUSINESS COMMUNITY. THE ORGANIZATION ALSO PROVIDED SPECIFIED SERVICES TO THE CITY AS SET FORTH IN THE TERMS OF THE DOWNTOWN SERVICE DISTRICT (DSD) AGREEMENT BETWEEN THE ORGANIZATION AND THE CITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tina Workman President & | Officer | 40 | $118,085 |
Paul Phillips Chair | OfficerTrustee | 2 | $0 |
Brian R Wells Chair Elect | OfficerTrustee | 2 | $0 |
Nadra Scott Treasurer | OfficerTrustee | 2 | $0 |
Tim Belcher Secretary | OfficerTrustee | 2 | $0 |
Todd Leeson Immediate Pa | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,830 |
| 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 | $13,830 |
| Total Program Service Revenue | $1,470,878 |
| Investment income | $78 |
| 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 | $1,484,786 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $133,418 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $184,581 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $35,742 |
| Payroll taxes | $25,936 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,271 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,331 |
| Advertising and promotion | $159,596 |
| Office expenses | $18,745 |
| Information technology | $12,300 |
| Royalties | $0 |
| Occupancy | $48,517 |
| Travel | $3,758 |
| 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 | $7,131 |
| Insurance | $23,398 |
| All other expenses | $24,512 |
| Total functional expenses | $1,399,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $879,292 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $159,575 |
| 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 | $81,103 |
| Net Land, buildings, and equipment | $16,131 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,136,101 |
| Accounts payable and accrued expenses | $36,620 |
| Grants payable | $0 |
| Deferred revenue | $217,749 |
| 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 | $254,369 |
| Net assets without donor restrictions | $881,732 |
| 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 | $1,136,101 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Downtown Roanoke Incorporated has recieved totaling $8,141.
| Awarding Organization | Amount |
|---|---|
Roanoke Foundation For Downtown Inc Roanoke, VA PURPOSE: HANGING FLOWER BASKE | $8,141 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
People Incorporated Of Virginia Abingdon, VA | $22,478,644 | $16,537,740 |
Community Ventures Corporation Inc Lexington, KY | $84,057,573 | $14,249,179 |
Heart Of America Foundation Washington, DC | $21,952,714 | $13,311,439 |
Waterfront Partnership Of Baltimore Inc Baltimore, MD | $10,304,693 | $15,904,703 |
N Street Village Inc Washington, DC | $31,040,838 | $11,867,277 |
Lake Monticello Owners Association Lake Monticello, VA | $27,325,227 | $9,680,580 |
Competitive Enterprise Institute Washington, DC | $5,463,449 | $7,758,776 |
Building Bridges Across The River Washington, DC | $56,784,233 | $13,914,024 |
Echelon Community Services Washington, DC | $2,480,354 | $6,411,075 |
Reinvestment Partners Durham, NC | $12,338,640 | $8,350,193 |
American Property Owners Alliance Washington, DC | $1,922,706 | $4,612,000 |
Sandhills Community Action Program Inc Southern Pines, NC | $2,226,446 | $4,141,015 |