Central Business District Association
- Assets
- $577.6k
- Revenue
- $645.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Virginia Beach, VA
- Founding
- 08/1986
- Data as of
- 12/2022
- EIN
- 54-1384692
Organization Overview
Central Business District Association is located in Virginia Beach, VA. The organization was established in 1986. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Business District 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 12/2022, Central Business District Association generated $645.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $428.1k during the year ending 12/2022. While expenses have increased by 9.6% 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
THE CENTRAL BUSINESS DISTRICT ASSOCIATION OF VIRGINIA BEACH IS COMMITTED TO THE PURSUIT OF THE DEVELOPMENT AND IMPLEMENTATION OF A HIGH QUALITY MIXED-USE URBAN ENVIRONMENT FOR THE CENTRAL BUSINESS DISTRICT IN THE CITY OF VIRGINIA BEACH. THE MISSION OF THE ORGANIZATION WILL BE TO: 1) BUILD PUBLIC AWARENESS OF THE BENEFITS RESULTING FROM DEVELOPMENT OF THE CENTRAL BUSINESS DISTRICT AS THE CENTER FOR FINANCIAL, COMMERCIAL, PROFESSIONAL AND CULTURAL ACTIVITIES IN VIRGINIA BEACH. 2) STRENGTHEN THE VIRGINIA BEACH ECONOMIC BASE THROUGH THE EXPANSION OF EXISTING BUSINESSES IN AND THE ATTRACTION OF NEW BUSINESSES TO THE CENTRAL BUSINESS DISTRICT. 3 CREATE PUBLIC SPACES SUCH AS PARK AREAS WITHIN THE CENTRAL BUSINESS DISTRICT FOR COMMUNITY USE AND ENJOYMENT IN A SAFE AND CLEAN ENVIRONMENT. 4) CREATE NETWORKING OPPORTUNITIES FOR ITS MEMBERS TO ENHANCE THE ECONOMIC VITALITY OF ITS CONSTITUENCY 5) WORK WITH THE CITY TO SAFELY INTEGRATE ALL THE COMPONENT AREAS OF THE CENTRAL BUSINESS DISTRICT WITH EA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS CREATED TO PROMOTE THE GROWTH AND DEVELOPMENT OF THE PEMBROKE AREA OF VIRGINIA BEACH.
THE ORGANIZATION WAS CREATED TO PROMOTE THE GROWTH AND DEVELOPMENT OF THE PEMBROKE AREA OF VIRGINIA BEACH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Astrin Director | Trustee | $0 | |
Lisa Baehre Director | Trustee | $0 | |
Mike Barney Director | Trustee | $0 | |
C Maxwell Bartholomew Director | Trustee | $0 | |
Elwood Boone Director | Trustee | $0 | |
Matthew Brady Director | Trustee | $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 | $566,919 |
| Investment income | $43 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $78,134 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $645,096 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $89,912 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $34,957 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $211,981 |
| Advertising and promotion | $503 |
| Office expenses | $2,034 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,318 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $3,839 |
| Total functional expenses | $428,089 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $531,381 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,433 |
| 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 | $1,794 |
| Total assets | $577,608 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $29,000 |
| 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 | $29,000 |
| Net assets without donor restrictions | $548,608 |
| 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 | $577,608 |