Staunton Downtown Development Association Inc
- Assets
- $40.5k
- Revenue
- $188.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Staunton, VA
- Founding
- 11/1994
- Data as of
- 06/2021
- 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 06/2021, Staunton Downtown Development Association Inc employed 5 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 06/2021, Staunton Downtown Development Association Inc generated $188.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $186.6k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) 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
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Beam Executive Di | Officer | 40 | $62,396 |
Len Doran President | OfficerTrustee | 3 | $0 |
Claire Richardson Vice Preside | OfficerTrustee | 3 | $0 |
Tammy Warren Treasurer | OfficerTrustee | 3 | $0 |
Liesel Crosier Secretary | OfficerTrustee | 3 | $0 |
Steve Rosenberg Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $187,258 |
| Investment income | $13 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $665 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $188,641 |
| Statement of Expenses | |
|---|---|
| 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. | $65,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,913 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,689 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,502 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,116 |
| Office expenses | $7,372 |
| Information technology | $2,223 |
| Royalties | $0 |
| Occupancy | $18,334 |
| 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 | $626 |
| Insurance | $4,374 |
| All other expenses | $0 |
| Total functional expenses | $186,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,738 |
| Savings and temporary cash investments | $37,727 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $40,465 |
| Accounts payable and accrued expenses | $2,351 |
| 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 | $2,351 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $38,114 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Staunton Downtown Development Association Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Nisource Charitable Foundation Columbus, OH PURPOSE: CORPORATE DONATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Soundexchange Inc Washington, DC | $739,346,856 | $68,696,516 |
Ltc Reinsurance Pcc Washington, DC | $2,201,458,175 | $98,451,933 |
Green Business Certification Inc Washington, DC | $85,505,548 | $44,270,395 |
Council Of Better Business Bureaus Inc Arlington, VA | $12,407,236 | $29,190,679 |
Alliance For Lifetime Income Washington, DC | $7,619,918 | $19,897,111 |
Ltc Reinsurance Pcc Washington, DC | $361,855,078 | $23,669,640 |
Urac Washington, DC | $81,439,201 | $26,248,621 |
Virginia Equine Alliance Warrenton, VA | $24,647,483 | $20,710,903 |
North American Meat Institute Washington, DC | $15,669,601 | $11,771,364 |
Yaplus Arlington, VA | $14,080,198 | $11,268,285 |
Structured Finance Industry Group Inc Washington, DC | $15,991,884 | $10,124,152 |
Virginia Utility Protection Service Inc Roanoke, VA | $16,444,690 | $8,907,059 |