Olde Towne Business Association
- Assets
- $12.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Portsmouth, VA
- Founding
- 10/1963
- Data as of
- 12/2021
- EIN
- 54-0701483
Organization Overview
Olde Towne Business Association is located in Portsmouth, VA. The organization was established in 1963. 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. Olde Towne Business Association 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, Olde Towne Business Association generated $26.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $14.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (13.0%) per year over the past 6 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 OLDE TOWNE BUSINESS ASSOCIATION IS THE FACILITATOR TO ENHANCE AND PRESERVE THE INTEGRITY OF THE OLDE TOWNE PORTSMOUTH BUSINESS DISTRICT THROUGH BUSINESS, PROMOTION, RETENTION, AND COMMUNICATION. THE OTBA ALSO SERVES AS AN ADVOCATE FOR THE BUSINESS COMMUNITY IN ECONOMIC AND CIVIC ISSUES. THE ASSOCIATION MAINTAINS THE OLDETOWNEPORTSMOUTH.COM WEBSITE PROMOTING LOCAL BUSINESSES AND EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nettie Fischer President | 0 | $0 | |
Max Greenhood First Vice-President | 0 | $0 | |
Andy Sutter Second Vice-President | 0 | $0 | |
Liona Bougeault Secretary/treasurer | 0 | $0 | |
Charles Brogan Director | 0 | $0 | |
Danielle Babcheck Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,115 |
| Total Program Service Revenue | $11,127 |
| Membership dues | $6,121 |
| Investment income | $2 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $26,902 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $6,178 |
| Occupancy, rent, utilities, and maintenance | $302 |
| Printing, publications, postage, and shipping | $323 |
| Other expenses | $7,152 |
| Total expenses | $13,955 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $12,947 |
| Other assets | $0 |
| Total assets | $12,947 |
| Total liabilities | $0 |
| Net assets or fund balances | $12,947 |
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