Downtown Mt Vernon Development Corporation
- Assets
- $118.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Mount Vernon, IL
- Founding
- 11/2006
- Data as of
- 04/2022
- EIN
- 61-1507024
Organization Overview
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debbie Arning Bookkeeper | 40 | $28,260 | |
Melynda Breeze Vice President | 1 | $0 | |
Rex Cusumano Vice President | 1 | $0 | |
Mark Hassakis Director | 1 | $0 | |
Robin Hensley Vice President | 1 | $0 | |
Pam Robertson Director | 1 | $0 |
Financial Statements
| 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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|---|---|---|
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Applied Research Institute Bloomington, IN | $3,329,526 | $9,074,163 |
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The Center For Kentucky Rural Economic Development Inc Somerset, KY | $52,726,644 | $7,680,890 |
Elevate Ventures Inc Indianapolis, IN | $13,635,821 | $6,541,390 |
Kentucky Highlands Investment Corporation London, KY | $130,461,604 | $9,285,837 |
Chicago Neighborhood Initiatives Inc Chicago, IL | $28,044,875 | $6,086,031 |
Madison Development Corporation Madison, WI | $34,294,523 | $5,181,232 |
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