Staunton Downtown Development Association Inc
- Assets
- $68.9k
- Revenue
- $270.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Staunton, VA
- Founding
- 11/1994
- Data as of
- 06/2022
- EIN
- 54-1688716
Organization Overview
Staunton Downtown Development Association Inc is located in Staunton, VA. The organization was established in 1994. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Staunton Downtown Development Association Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Staunton Downtown Development Association Inc 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 06/2022, Staunton Downtown Development Association Inc generated $270.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $242.1k during the year ending 06/2022. 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 DOWNTOWN STAUNTON'S ECONOMIC ENVIRONMENT AS A CENTER OF COMMERCE WHILE MAINTAINING THE CHARACTER AND INTEGRITY OF THE CITY'S DOWNTOWN SERVICE DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENHANCEMENT OF DOWNTOWN STAUNTON AS A PLACE OF COMMERCE, DESTINATION FOR VISITORS AND AS A PLACE TO LIVE AND WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Godsie Sawyers President | OfficerTrustee | 3 | $0 |
Len Doran Immed Past P | OfficerTrustee | 3 | $0 |
Claire Richardson Vice Preside | OfficerTrustee | 3 | $0 |
Liesel Crosier Secretary | OfficerTrustee | 3 | $0 |
Tammy Warren Treasurer | OfficerTrustee | 3 | $0 |
Andrea Oakes Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,650 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $224,337 |
| All other contributions, gifts, grants, and similar amounts not included above | $34,463 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $260,450 |
| Total Program Service Revenue | $0 |
| Investment income | $12 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $9,810 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $270,272 |
| 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. | $68,508 |
| Compensation of current officers, directors, key employees. | $17,127 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $61,579 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,952 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,657 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,875 |
| Office expenses | $5,797 |
| Information technology | $3,528 |
| Royalties | $0 |
| Occupancy | $22,130 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,010 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,835 |
| Insurance | $6,924 |
| All other expenses | $20 |
| Total functional expenses | $242,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,490 |
| Savings and temporary cash investments | $45,618 |
| 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 | $0 |
| Net Land, buildings, and equipment | $17,778 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $68,886 |
| Accounts payable and accrued expenses | $2,552 |
| 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 | $2,552 |
| Net assets without donor restrictions | $46,836 |
| Net assets with donor restrictions | $19,498 |
| 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 | $68,886 |