Downtown Wadsworth Inc
- Assets
- $124.0k
- Revenue
- $183.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Wadsworth, OH
- Founding
- 04/2006
- Data as of
- 12/2021
- EIN
- 57-1206447
Organization Overview
Downtown Wadsworth Inc is located in Wadsworth, OH. The organization was established in 2006. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Wadsworth 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 12/2021, Downtown Wadsworth Inc generated $183.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $131.7k during the year ending 12/2021. While expenses have increased by 9.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND MAINTAIN A DOWNTOWN IDENTITY THAT WILL CONTINUALLY ADVANCE THE QUALITY OF THE COMMUNITY'S SOCIAL, CULTURAL AND COMMERCIAL ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OKTOBERFEST -TO DEVELOP AND MAINTAIN A DOWNTOWN IDENTITY THAT WILL CONTINUALLY ADVANCE THE QUALITY OF THE COMMUNITY'S SOCIAL, CULTURAL AND COMMERCIAL ENVIRONMENT.
TASTE OF WADSWORTH-TO DEVELOP AND MAINTAIN A DOWNTOWN IDENTITY THAT WILL CONTINUALLY ADVANCE THE QUALITY OF THE COMMUNITY'S SOCIAL CULTURAL AND COMMERCIAL ENVIRONMENT.
CANDLELIGHT WALK-TO DEVELOP AND MAINTAIN A DOWNTOWN IDENTITY THAT WILL CONTINUALLY ADVANCE THE QUALITY OF THE COMMUNITY'S SOCIAL CULTURAL AND COMMERCIAL ENVIRONMENT.
TO DEVELOP AND MAINTAIN A DOWNTOWN IDENTITY THAT WILL CONTINUALLY ADVANCE THE QUALITY OF THE COMMUNITY'S SOCIAL CULTURAL AND COMMERCIAL ENVIRONMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adrianne Kraus Executive Director As Of 5 | Trustee | 20 | $56,693 |
Mayor Robin Laugaugh Permanent Mbr | Trustee | 5 | $0 |
Andrew Hill Board Member | Trustee | 5 | $0 |
Dr Joseph Arpad Board Member | Trustee | 5 | $0 |
Alex Mcilvaine DMD Board Member | Trustee | 5 | $0 |
Teri Nicholas Treasurer | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $34,324 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $30,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $111,299 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,623 |
| Total Program Service Revenue | $7,846 |
| Investment income | $0 |
| 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 | $183,469 |
| 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. | $59,693 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $3,913 |
| Other employee benefits | $5,738 |
| Payroll taxes | $25,435 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,225 |
| Office expenses | $8,014 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,069 |
| 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 | $1,424 |
| Insurance | $1,527 |
| All other expenses | $972 |
| Total functional expenses | $131,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,787 |
| Savings and temporary cash investments | $0 |
| 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 | $5,184 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $123,971 |
| Accounts payable and accrued expenses | $0 |
| 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 | $14,910 |
| Total liabilities | $14,910 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $109,061 |
| Total liabilities and net assets/fund balances | $123,971 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Downtown Wadsworth Inc has recieved totaling $10,073.
| Awarding Organization | Amount |
|---|---|
Akron Community Foundation Akron, OH PURPOSE: TO ASSIST WITH THE PROCESS OF PLACEMENT ON THE NATIONAL REGISTER OF HISTORIC PLACES | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $73 |
Endowment Analysis
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