Block 9 Master Condominium Association
- Assets
- $98.1k
- Revenue
- $611.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Fargo, ND
- Founding
- Data as of
- 12/2022
- EIN
- 86-1285820
Organization Overview
Block 9 Master Condominium Association is located in Fargo, ND. According to its NTEE Classification (S31) the organization is classified as: Urban & Community 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. Block 9 Master Condominium Association is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO MAINTAIN THE 18-STORY BLOCK 9 MIXED-USE SKYSCRAPER BUILDING IN THE HEART OF DOWNTOWN FARGO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BLOCK 9 MASTER CONDOMINIUM ASSOCIATION (THE ASSOCIATION) MAINTAINS THE 18-STORY BLOCK 9 MIXED USE SKYSCRAPER BUILDING IN THE HEART OF DOWNTOWN FARGO ON THE CORNER OF BROADWAY AND SECOND AVENUE NORTH. THE BLOCK 9 DEVELOPMENT WAS BUILT AS A REVIVAL OF THE CENTER OF COMMERCE IN DOWNTOWN FARGO AND IS PART OF A PUBLIC PARTNERSHIP WITH THE CITY OF FARGO, NORTH DAKOTA. WITH HUNDREDS OF CITIZENS WORKING DOWNTOWN, RETAIL SHOPS, DINING OPTIONS AND RESIDENTIAL CONDOS, THE VIBRANCY OF THE HISTORIC DOWNTOWN CORNER WILL BE BROUGHT BACK TO LIFE.THE BLOCK 9 MIXED-USE TOWER WAS CREATED TO FUEL A THRIVING COMMUNITY IN DOWNTOWN FARGO AND INCLUDES GROUND FLOOR RETAIL, OFFICE SPACE, A BOUTIQUE HOTEL, RESTAURANT, AND RESIDENTIAL CONDOMINIUMS. THE BLOCK 9 PROJECT IS ADJACENT TO A PUBLIC PLAZA, OVER A HALF-ACRE IN SIZE, WHICH HAS BEEN DEVELOPED AS A GATHERING AND CELEBRATION SPACE FOR THE REGION WITH SEASONAL AMENITIES SUCH AS A SKATING RINK, SPLASH PAD, VENDOR SPACES AND A LIVE PERFORMANCE BAND SHELL. THE BLOCK 9 MIXED-USE TOWER MAINTAINED BY BLOCK 9 MASTER CONDOMINIUM ASSOCIATION CONTAINS FIRST LEVEL SHOPS, RESTAURANT AND HOTEL WHICH ARE OPEN TO THE GENERAL PUBLIC. BLOCK 9 MASTER CONDO ASSOCIATION OPERATES PRIMARILY FOR THE PROMOTION OF SOCIAL WELFARE BY PROMOTING THE COMMON GOOD OF THE COMMUNITY BY PROVIDING BUILDING AMENITIES AND COMMON AREAS FOR PUBLIC USE. ALL MEMBERS OF THE COMMUNITY OF FARGO, NORTH DAKOTA AND VISITORS TO THE CITY HAVE ACCESS TO THE BUILDING AND THE RETAIL SHOPS, HOTEL, AND RESTAURANT LOCATED INSIDE. HUNDREDS OF COMMUNITY MEMBERS WILL WORK IN THE OFFICES ESTABLISHED WITHIN THE BUILDING; ESTIMATES PROJECT THAT THE BLOCK 9 DEVELOPMENT WILL DRAW OVER 500,000 VISITORS TO THE BLOCK 9 MIXED-USE TOWER AND PLAZA LOCATION ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Noah Director | Trustee | 0.5 | $0 |
Mike Allmendinger Director | Trustee | 0.5 | $0 |
F Scott Neal Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $611,855 |
| 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 | $611,855 |
| 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. | $0 |
| 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 | $0 |
| Fees for services: Management | $48,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,595 |
| Advertising and promotion | $0 |
| Office expenses | $606 |
| Information technology | $21,812 |
| Royalties | $0 |
| Occupancy | $421,897 |
| 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 | $107,178 |
| All other expenses | $0 |
| Total functional expenses | $652,088 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,437 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,204 |
| 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 | $65,418 |
| 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 | $98,059 |
| Accounts payable and accrued expenses | $29,702 |
| 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 | $16,300 |
| Total liabilities | $46,002 |
| Net assets without donor restrictions | $0 |
| 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 | $52,057 |
| Total liabilities and net assets/fund balances | $98,059 |