Downtown Mt Vernon Development Corporation is located in Mount Vernon, IL. The organization was established in 2006. According to its NTEE Classification (S30) the organization is classified as: Economic Development, 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 Mt Vernon Development Corporation 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 04/2022, Downtown Mt Vernon Development Corporation generated $91.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $93.2k during the year ending 04/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TO REVITALIZE AND MAINTAIN DOWNTOWN MT.VERNON AS A COMMERCIAL AND CULTURAL CENTER OF LOCAL AND REGIONAL COMMUNITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Debbie Arning Bookkeeper | 40 | $28,260 | |
Rex Cusumano Vice President | 1 | $0 | |
Monte Jo Clark President | 2 | $0 | |
Joann Joy Treasurer | 1 | $0 | |
Deb Smith Director | 0 | $0 | |
Melynda Breeze Vice President | 1 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $90,135 |
Total Program Service Revenue | $0 |
Membership dues | $0 |
Investment income | $0 |
Gain or Loss | $0 |
Net Income from Gaming & Fundraising | $117 |
Other Revenue | $804 |
Total Revenue | $91,056 |
Statement of Expenses | |
---|---|
Grants and similar amounts paid | $0 |
Benefits paid to or for members | $0 |
Salaries, other compensation, and employee benefits | $30,422 |
Professional fees and other payments to independent contractors | $0 |
Occupancy, rent, utilities, and maintenance | $8,400 |
Printing, publications, postage, and shipping | $92 |
Other expenses | $54,252 |
Total expenses | $93,166 |
Balance Sheet | |
---|---|
Cash, savings, and investments | $117,508 |
Other assets | $0 |
Total assets | $118,703 |
Total liabilities | $1,064 |
Net assets or fund balances | $117,639 |
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