Central Square Business Improvement District Inc
- Assets
- $657.7k
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Cambridge, MA
- Founding
- Data as of
- 06/2022
- EIN
- 84-2076384
Organization Overview
Central Square Business Improvement District Inc is located in Cambridge, MA. 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. As of 06/2022, Central Square Business Improvement District Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Square Business Improvement District 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 06/2022, Central Square Business Improvement District Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $2.4m during the year ending 06/2022. While expenses have increased by 22.5% per year over the past 3 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
TO ENERGIZE CAMBRIDGE'S CENTRAL SQUARE BY BRINGING ADDITIONAL MANAGEMENT AND RESOURCES TO THE MAINTENANCE AND PROGRAMMING OF THE STREETS AND OTHER PUBLIC SPACES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO STRENGTHEN THE LOOK AND FEEL OF PUBLIC SPACES BY CLEANING, MANAGING, AND UPGRADING STREETS AND SIDEWALKS; ADD LANDSCAPING, STREET FURNITURE, DECORATIONS AND ACTIVITIES; COORDINATE AND ENCOURAGE PUBLIC AND PRIVATE INVESTMENT TO UPGRADE STREET-LEVEL USES; AND BRING ADDITIONAL RESOURCES TO ASSIST EXISTING, AND ATTRACT NEW, BUSINESSES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael S Monestime Executive Director | 40 | $121,250 | |
Kenneth S Barron Chairman | OfficerTrustee | 5 | $0 |
Patrick Barrett Treasurer | OfficerTrustee | 5 | $0 |
Robyn Arruda Secretary | OfficerTrustee | 5 | $0 |
George Metzger Vice-Chairman | OfficerTrustee | 5 | $0 |
Christina Abele Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flagg Street Studio Project Management | 6/29/22 | $112,500 |
Republic Parking System Parking Rental Services | 6/29/22 | $129,750 |
Block By Block Public Safety/cleaning | 6/29/22 | $696,918 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,011,284 |
| All other contributions, gifts, grants, and similar amounts not included above | $160,387 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,171,671 |
| Total Program Service Revenue | $1,326,260 |
| 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 | $21,623 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,519,554 |
| 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. | $192,738 |
| Compensation of current officers, directors, key employees. | $96,369 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $246,356 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,367 |
| Payroll taxes | $43,046 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,961 |
| Fees for services: Accounting | $50,452 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $776,599 |
| Advertising and promotion | $57,718 |
| Office expenses | $82,754 |
| Information technology | $7,903 |
| Royalties | $0 |
| Occupancy | $120,835 |
| Travel | $19,089 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,298 |
| Interest | $4,768 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,828 |
| Insurance | $8,365 |
| All other expenses | $46,256 |
| Total functional expenses | $2,418,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $520,104 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $121,287 |
| 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 | $13,984 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,347 |
| Total assets | $657,722 |
| Accounts payable and accrued expenses | $214,107 |
| 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 | $195,560 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $409,667 |
| Net assets without donor restrictions | $248,055 |
| 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 | $657,722 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Central Square Business Improvement District Inc has recieved totaling $60,000.
| Awarding Organization | Amount |
|---|---|
Wagner Foundation Boston, MA PURPOSE: STARLIGHT SQUARE | $50,000 |
Cambridge Savings Charitable Foundation Inc Cambridge, MA PURPOSE: EXEMPT PURPOSE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Nybdc Local Development Corporation Albany, NY | $39,799,179 | $11,401,541 |
Venture For America Inc New York, NY | $3,605,973 | $6,866,605 |
Trufund Financial Services Inc New York, NY | $14,181,328 | $2,317,905 |
Griffiss Local Development Corporation Rome, NY | $28,823,478 | $3,861,279 |
Metrotech Area District Management Association Inc Brooklyn, NY | $3,270,355 | $4,991,826 |
Kiryas Joel Municipal Local Development Corporation Monroe, NY | $2,561,042 | $4,665,324 |
Connecticut Economic Resource New Haven, CT | $3,997,158 | $4,805,353 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |