Park Rapids Downtown Business Association
- Assets
- $52.1k
- Revenue
- $83.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Park Rapids, MN
- Founding
- Data as of
- 12/2022
- EIN
- 85-1408916
Organization Overview
Park Rapids Downtown Business Association is located in Park Rapids, MN. 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. Park Rapids Downtown Business Association 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, Park Rapids Downtown Business Association generated $83.3k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $92.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sally Wizik Wills Chair | 4 | $0 | |
Mike Bruhn Member | 1 | $0 | |
Debbie Tostenson Vice Chair | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $27,014 |
| Other Income | $56,248 |
| Total Revenue | $83,262 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $6,131 |
| Occupancy | $3,752 |
| Travel, conferences, and meetings | $356 |
| Printing and publications | $34,162 |
| Other expenses | $48,196 |
| Total operating and administrative expenses | $92,597 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $92,597 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,116 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $499 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $275 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $23,169 |
| Other assets | $0 |
| Total assets | $52,059 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $10,044 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,044 |