Albany Downtown Association
- Assets
- $285.3k
- Revenue
- $311.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Albany, OR
- Founding
- 08/1982
- Data as of
- 06/2023
- EIN
- 93-0813387
Organization Overview
Albany Downtown Association is located in Albany, OR. The organization was established in 1982. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Albany Downtown Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany Downtown Association 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 06/2023, Albany Downtown Association generated $311.4k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $286.2k during the year ending 06/2023. While expenses have increased by 6.0% per year over the past 4 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
ECONOMIC DEVELOPMENT AND EXPANSION OF DOWNTOWN ALBANY, OREGON
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAS EXECUTED SEVERAL COMMUNITY EVENTS TO SUPPORT THEIR EXEMPT PURPOSE INCLUDING: DESIGN INCOME, ANTIQUES IN THE STREET, MOVIES AT MONTEITH, CRAZY DAYS, AND CHRISTMAS LIGHTS.
THE ORGANIZATION HAS EXECUTED SEVERAL DESIGN EVENTS INCLUDING: FLOWER BASKET PROGRAM, SNOWFLAKES AT CHRISTMAS TIME, AND SHOP, DINE, UNWIND BANNERS.
THE ORGANIZATION HAS STRATEGICALLY PLACED SIGNS TO GUIDE VISITORS INTO DOWNTOWN FROM I-5. SIGNS HAVE ALSO BEEN PLACED IN DOWNTOWN TO GUIDE VISITORS TO SHOPS AND ATTRACTIONS, INCLUDING THE CAROUSEL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Moore Treasurer | Trustee | 0 | $0 |
Julie Jackson Member | Trustee | 0 | $0 |
Beth Lopes Walker Member | Trustee | 0 | $0 |
Barbara Doolan Member | Trustee | 0 | $0 |
Matt Wadlington Member | Trustee | 0 | $0 |
Hannah Darling President | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $16,924 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $32,634 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,472 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $54,030 |
| Total Program Service Revenue | $252,304 |
| Investment income | $14 |
| 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 | $311,353 |
| 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 | $115,763 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,886 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,855 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,264 |
| Office expenses | $10,684 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,680 |
| Travel | $905 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,804 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $264 |
| Insurance | $8,792 |
| All other expenses | $20,183 |
| Total functional expenses | $286,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,661 |
| Savings and temporary cash investments | $35,015 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $58,646 |
| 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 | $285,322 |
| Accounts payable and accrued expenses | $2,126 |
| Grants payable | $1,520 |
| 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 | $7,213 |
| Total liabilities | $10,859 |
| Net assets without donor restrictions | $274,463 |
| 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 | $285,322 |