Old Takoma Business Association Inc
- Assets
- $369.5k
- Revenue
- $345.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Takoma Park, MD
- Founding
- 08/2004
- Data as of
- 12/2022
- EIN
- 75-3131452
Organization Overview
Old Takoma Business Association Inc is located in Takoma Park, MD. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Takoma Business 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 12/2022, Old Takoma Business Association Inc generated $345.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $311.9k during the year ending 12/2022. While expenses have increased by 4.4% 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.
Since 2021, Old Takoma Business Association Inc has awarded 27 individual grants totaling $207,718. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BRING TOGETHER BUSINESSES, RESIDENTS, AND COMMUNITY ORGANIZATIONS TO BUILD AND SUSTAIN A VIBRANT COMMERICAL DISTRICT AND PRESERVE THE NEIGHBORHOOD'S RICH HISTORY. THIS INCLUDES UTILIZING THE MARYLAND STATE MAINSTREET PROGRAM, AND IT WORKS WITH ISSUES ESSENTIAL TO INDEPENDENTLY-OWNED LOCAL BUSINESSES AND TO A THRIVING COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LESSENING THE BURDENS OF THE CITY OF TAKOMA PARK, MD AND WASHINGTON, D.C. BY ADMINISTERING TAKOMA PARK'S MAIN STREET MARYLAND PROGRAM AND FURTHERING THE PURPOSE OF THAT PROGRAM BY WORKING WITH RESIDENTS, COMMUNITY ORGANIZATIONS, AND BUSINESSES TO IMPROVE THE ECONOMY, APPEARANCE, AND IMAGE OF THE HISTORICAL DOWNTOWN COMMERCIAL AND CULTURAL DISTRICT IN TAKOMA PARK, MD AND THE TAKOMA NEIGHBORHOOD IN WASHINGTON, D.C. THROUGH CULTURAL EVENTS, BEAUTIFICATION, AND SUPPORT TO SMALL, LOCAL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Barclay Executive Di | Officer | 40 | $91,125 |
David Boyd At Large Mem | Trustee | 0.5 | $0 |
Rocco Casagrande At Large Mem | Trustee | 0.5 | $0 |
Jocelyn Dehass At Large Mem | Trustee | 0.5 | $0 |
Carter Dougherty At Large Mem | Trustee | 0.5 | $0 |
Sara Hayden At Large Mem | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $17,570 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $213,269 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,112 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $242,951 |
| Total Program Service Revenue | $100,769 |
| Investment income | $1,440 |
| 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 | $345,160 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| 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. | $91,125 |
| Compensation of current officers, directors, key employees. | $13,669 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,956 |
| Payroll taxes | $7,389 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,203 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,255 |
| Advertising and promotion | $18,450 |
| Office expenses | $45,115 |
| Information technology | $6,249 |
| Royalties | $0 |
| Occupancy | $9,000 |
| 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 | $0 |
| Insurance | $2,220 |
| All other expenses | $6,652 |
| Total functional expenses | $311,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $285,385 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,162 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $40,855 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,077 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $369,479 |
| Accounts payable and accrued expenses | $36,943 |
| 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 | $36,943 |
| Net assets without donor restrictions | $332,536 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $369,479 |
Grants Awarded
Over the last fiscal year, Old Takoma Business Association Inc has awarded $207,718 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
BESPOKE NOT BROKE7042 CARROLL AVE PURPOSE: COMMUNITY GRANT | $6,500 |
3H BROTHERS INCTHE OLIVE LOUNGE7006 CARROLL AVE PURPOSE: COMMUNITY GRANT | $10,000 |
AMANO7034 CARROLL AVE PURPOSE: COMMUNITY GRANT | $6,000 |
KUPAAH INCFAIR DAYS PLAY7050 CARROLL AVE PURPOSE: COMMUNITY GRANT | $6,500 |
GEORGIES BARBER LLC6929 LAUREL AVE PURPOSE: COMMUNITY GRANT | $6,000 |
KULA HOSPITALITY7071 CARROLL AVE PURPOSE: COMMUNITY GRANT | $9,000 |