Harrisonburg Downtown Renaissance
- Assets
- $859.2k
- Revenue
- $706.5k
- Investments
- $0.0
- Employees
- 8
- Location
- Harrisonburg, VA
- Founding
- 01/2004
- Data as of
- 12/2022
- EIN
- 58-2675553
Organization Overview
Harrisonburg Downtown Renaissance is located in Harrisonburg, VA. The organization was established in 2004. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Harrisonburg Downtown Renaissance employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harrisonburg Downtown Renaissance 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 12/2022, Harrisonburg Downtown Renaissance generated $706.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $701.3k during the year ending 12/2022. While expenses have increased by 6.0% per year over the past 7 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
HDR IS A DESIGNATED MAIN STREET AMERICA COMMUNITY FOCUSED ON THE ON-GOING REVITALIZATION OF HISTORIC DOWNTOWN HARRISONBURG.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HDR USES DESTINATION MARKETING STRATEGIES TO PROMOTE THE HISTORIC DOWNTOWN, LOCAL BUSINESSES, AND ATTRACTIONS AND AMENITIES TO LOCAL RESIDENTS AND TOURISTS. THIS HELPS US ATTRACT NEW AND RETURNING CUSTOMERS TO THE DISTRICT, TALENT FOR AREA EMPLOYERS, STUDENTS AND FACULTY TO HARRISONBURG UNIVERSITIES, AND TOURISTS. IN 2022, WE LED MULTIPLE CAMPAIGNS TO PROMOTE THE DISTRICT, INCLUDING FOR RESTAURANT MONTH, EVENTS, AND HOLIDAY SHOPPING. THIS INCLUDED STREAMING MEDIA COMMERCIALS, PAID DIGITAL MARKETING, MEDIA INTERVIEWS, RADIO SEGMENTS, POSTERS, AND NEWSPAPER HOLIDAY SHOPPING GUIDE INSERTS.
OUR ECONOMIC DEVELOPMENT STRATEGIES FOCUS ON MATCHING ENTREPRENEURS WITH VACANCIES AND STRENGTHENING EXISTING BUSINESSES SO THEY CAN ATTRACT MORE CUSTOMERS AND GROW THEIR BOTTOM LINES. OUR WORK CREATES AND RETAINS JOBS, CREATES OPPORTUNITIES FOR ENTREPRENEURS, AS WELL AS BOOSTS THE CITY'S TAX BASE. OUR PROGRAMS INCLUDE GRANTS, CUSTOMIZED TECHNICAL ASSISTANCE, INFORMATION AND RESOURCES. WE INVESTED OVER $107,000 IN DIRECT SUPPORT FOR DOWNTOWN SMALL BUSINESSES THROUGH GRANTS AND TECHNICAL ASSISTANCE IN 2022 AND CONTINUED TO SUPPORT THE B-CUBED PROGRAM DESIGNED TO ASSIST OUR AREA'S BLACK- AND BROWN-OWNED BUSINESSES.
HDR PRODUCES FREE PUBLIC EVENTS TO BUILD COMMUNITY, BOOST FOOT TRAFFIC, BUILD OUR BRAND, AND GROW EXPOSURE FOR SMALL BUSINESSES, AND STRENGTHEN COMMUNITY PRIDE AND COHESION THROUGH TOGETHERNESS. IN 2022, WE PRODUCED TASTE OF DOWNTOWN EVENTS, BESTWEEKENDEVER, BLOCK PARTY IN THE BURG, SKELETONFEST, VETERANS PARADE, AND WINTERWONDERFEST, WHICH BROUGHT 25,000 ATTENDEES TO DOWNTOWN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Cohen President | OfficerTrustee | 0.5 | $0 |
Jairemy Drooger Vice President | OfficerTrustee | 0.5 | $0 |
Kyle Rogers Secretary | OfficerTrustee | 0.5 | $0 |
Matt Von Schuch Treasurer | OfficerTrustee | 1 | $0 |
Randy Seitz Treasurer | OfficerTrustee | 1 | $0 |
Jessica Browne Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $204,151 |
| All other contributions, gifts, grants, and similar amounts not included above | $150,469 |
| Noncash contributions included in lines 1a–1f | $14,767 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $354,620 |
| Total Program Service Revenue | $126,779 |
| Investment income | $13,351 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,201 |
| Net Income from Gaming Activities | $211,748 |
| Net Income from Sales of Inventory | -$1,165 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $706,534 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $79,265 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $82,144 |
| Compensation of current officers, directors, key employees. | $13,964 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $132,738 |
| Pension plan accruals and contributions | $2,623 |
| Other employee benefits | $6,777 |
| Payroll taxes | $10,125 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,482 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,229 |
| Fees for services: Other | $750 |
| Advertising and promotion | $54,108 |
| Office expenses | $28,768 |
| Information technology | $17,257 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,017 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $701,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $679,299 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,144 |
| 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 | $82,867 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $94,935 |
| Total assets | $859,245 |
| Accounts payable and accrued expenses | $72,823 |
| 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 | $93,235 |
| Total liabilities | $166,058 |
| Net assets without donor restrictions | $691,200 |
| Net assets with donor restrictions | $1,987 |
| 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 | $859,245 |