Downtown Moorhead Inc is located in Moorhead, MN. The organization was established in 2019. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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 Moorhead Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Downtown Moorhead Inc generated $227.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $188.3k during the year ending 12/2023. While expenses have increased by 26.3% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DOWNTOWN MOORHEAD INCORPORATED IS A PRIVATE, NON-PROFIT ORGANIZATION DEDICATED TO THE BENEFICIAL ECONOMIC GROWTH AND BUSINESS DEVELOPMENT OF DOWNTOWN MOORHEAD. WE ACCOMPLISH THIS THROUGH POLICY DEVELOPMENT, ADVOCACY, AND PROGRAM MANAGEMENT FUNCTIONS CONDUCTED ON BEHALF OF DOWNTOWN STAKEHOLDERS/INVESTORS, AND IN COOPERATION WITH PUBLIC AND OTHER PRIVATE-SECTOR PARTNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MOORHEAD IS ON THE RISE AND 2023 REFLECTED THAT. WE SAW THAT TREMENDOUS GROWTH AND ARE PROUD TO SAY THAT MOORHEAD HAD ANOTHER RECORD PERMIT YEAR AND HAVING MORE SINGLE-FAMILY HOUSING START THAN WEST FARGO AND FARGO. WE CONTINUE TO SEE SUCCESS YEAR-AFTER-YEAR WITH BUSINESS CERTAINLY, STRONG LOCAL SUPPORT, AND HARD WORK. THERE ARE SEVERAL PROJECTS READY TO START IN 2024 AND THESE PROJECTS WILL TRANSFORM MOORHEAD FOR GENERATIONS!DOWNTOWN MOORHEAD REDEVELOPMENT PROJECT, LIBRARY/COMMUNITY CENTER, AND 11TH STREET UNDERPASS- DEMOLITION CONTINUES ON THE FORMER MOORHEAD CENTER MALL SITE AS THE PREPARATIONS BEGIN FOR THE CONTRUCTION ON THE NEW LIBRARY/COMMUNITY CENTER, CITY HALL RENOVATION, AND FUTURE MIXED-USE DEVELOPMENTS. THE DEMOLITION, SITE PREPARATION, AND FUTURE INFRASTRUCTURE WILL BE SUPPORTED BY THE RECENTLY APPROVED TAX INCREMENT FINANCING (TIF) DISTRICT AND MULTIPLE STATE OF MINNESOTA GRANTS. THE SITE WAS AWARDED FOUR MAIN STREET GRANTS AND A $1 MILLION DEED REDEVELOPMENT GRANT. WE ANTICIPATE THE LIBRARY/COMMUNITY CENTER AND A $40 MILLION MIXED-USE DEVELOPMENT ON THE EAST END OF THE SITE WILL BREAK GROUND IN THE NEXT MONTH. WE ARE EXCITED FOR THESE WONDERFUL PROJECTS TO START AND SEE THE ENERGY BUILD AROUND THE REDEVELOPMENT.- THE MOORHEAD CENTER MALL REMAINS OPEN AND HAS SEVERAL BUSINESSES IN OPERATION. THIS IS IN TRANSITION AS ALL BUSINESSES HAVE AN OPERATION PLAN WITH SEVERAL BUSINESS RELOCATING WITHIN MOORHEAD AND A COUPLE OF BUSINESS OWNERS RETIRING. WE ARE RECEIVING MANY INQUIRES AND QUESTIONS REGARDING THE DOWNTOWN REDEVELOPMENT PLAN. WE ENCOURAGE THE RESIDENTS, BUSINESSES, AND PERSPECTIVE DEVELOPERS TO CHECK OUT THE PROJECT WEBSITE WWW.MORETOMOORHEAD.COM.- THE MINNESOTA DEPARTMENT OF TRANSPORTATION (MN DOT) AND THE CITY OF MOORHEAD HAVE PARTNERED TO CONSTRUCT AN UNDERPASS AT 11TH STREET IN MOORHEAD. THE PROJECT INCLUDES TWO GRAD SEPARATIONS OF 11TH STREET UNDER THE BNSF RAIL LINES, PAVING, PEDESTRIAN ACCESSIBILITY (ADA) IMPROVEMENTS, UTILITY REPLACEMENTS, AND SIGNALS. MOORHEAD IS BISECTED BY MULTIPLE RAIL LINES AND THIS PROJECT PROVIDES MANY SAFETY AND MOBILITY BENEFITS BY REMOVING CROSSING BLOCKAGES CAUSED BY HEAVY RAIL TRAFFIC. WHEN COMPLETED, THE 11TH STREET GRADE SEPARATION PROJECT WILL ENABLE TRAFFIC, BICYCLISTS, AND PEDESTRIANS TO TRAVEL UNDER THE RAIL LINES THAT GO THROUGH TOWN.WE ARE EXCITED FOR THE FUTURRE OF OUR ORGANIZATION AND THE VALUE THAT WE ARE PROVIDING TO THE REGIONAL COMMUNITY!
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lisa Borgen Director | Trustee | 3 | $0 |
Joe Watzke Treasurer | OfficerTrustee | 3 | $0 |
Carrie Brimhall Vice Chair / Secretary | OfficerTrustee | 3 | $0 |
Sheri Larson Director | Trustee | 3 | $0 |
Ted Horan Board Chair | OfficerTrustee | 3 | $0 |
Marcia Pulczinski Director | Trustee | 3 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $25,000 |
All other contributions, gifts, grants, and similar amounts not included above | $68,500 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $93,500 |
Total Program Service Revenue | $133,900 |
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 | $227,400 |
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. | $164,970 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $2,238 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $5,746 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $384 |
Office expenses | $2,560 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $7,150 |
Travel | $2,155 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $370 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $2,075 |
All other expenses | $660 |
Total functional expenses | $188,308 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $200,832 |
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 | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $200,832 |
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 | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $200,832 |
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 | $200,832 |