Civic Intelligence

Downtown Franklin Association

990 • Fiscal year 2019 • EIN 26-0011687

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 01, 2019

120 S Main StFranklin, VA 23851

(757) 562-6900

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

61st percentile

0.00x

Higher debt load relative to assets than 61% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

61st percentile

0.00x

Higher debt load relative to revenue than 61% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

19th percentile

-16%

Higher net margin than 19% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

96th percentile

$70,864

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 35.2% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

26th percentile

-13%

Faster asset growth than 26% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

35th percentile

-8.9%

Faster revenue growth than 35% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Down

$205,334

Down $31,361 (-13%) from 2018

Net Assets

Down

$204,487

Down $31,307 (-13%) from 2018

Liabilities

Down

$847

Down $54 (-6.0%) from 2018

Revenue

Down

$201,572

Down $19,799 (-8.9%) from 2018

Expenses

Down

$232,879

Down $16,747 (-6.7%) from 2018

Net Income

Down

-$31,307

Down $3,052 (-11%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2012: $237,588Liabilities 2012: $15,663Net Assets 2012: $221,9252012Assets 2013: $233,399Liabilities 2013: $11,599Net Assets 2013: $221,8002013Assets 2014: $238,684Liabilities 2014: $7,574Net Assets 2014: $231,1102014Assets 2015: $228,134Liabilities 2015: $3,648Net Assets 2015: $224,4862015Assets 2016: $223,739Liabilities 2016: $706Net Assets 2016: $223,0332016Assets 2017: $265,227Liabilities 2017: $1,178Net Assets 2017: $264,0492017Assets 2018: $236,695Liabilities 2018: $901Net Assets 2018: $235,7942018Assets 2019: $205,334Liabilities 2019: $847Net Assets 2019: $204,4872019Assets 2020: $197,366Liabilities 2020: $695Net Assets 2020: $196,6712020Assets 2021: $178,609Liabilities 2021: $4,336Net Assets 2021: $174,2732021Assets 2022: $127,657Net Assets 2022: $127,6572022Assets 2023: $113,998Net Assets 2023: $113,9982023Assets 2024: $0Net Assets 2024: $02024

Highlighted filing

2019

Assets$205,334
Liabilities$847
Net Assets$204,487

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KExpenses 2012: $216,9772012Expenses 2013: $201,5792013Revenue 2014: $207,766Expenses 2014: $198,456Net Income 2014: $9,3102014Revenue 2015: $185,448Expenses 2015: $192,072Net Income 2015: -$6,6242015Revenue 2016: $186,203Expenses 2016: $187,656Net Income 2016: -$1,4532016Revenue 2017: $267,559Expenses 2017: $226,543Net Income 2017: $41,0162017Revenue 2018: $221,371Expenses 2018: $249,626Net Income 2018: -$28,2552018Revenue 2019: $201,572Expenses 2019: $232,879Net Income 2019: -$31,3072019Revenue 2020: $172,782Expenses 2020: $180,598Net Income 2020: -$7,8162020Revenue 2021: $122,415Expenses 2021: $144,813Net Income 2021: -$22,3982021Revenue 2022: -$974Expenses 2022: $45,642Net Income 2022: -$46,6162022Revenue 2023: $2,958Expenses 2023: $16,617Net Income 2023: -$13,6592023Revenue 2024: $393Expenses 2024: $45,391Net Income 2024: -$44,9982024

Highlighted filing

2019

Revenue$201,572
Expenses$232,879
Net Income-$31,307
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 1, 2019
Return Version
2018v3.1
Gross Receipts
$204,991
Mission and Program Overview

Mission

To promote the historic district of franklin, va from an economic and aesthetic standpoint.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$158,061$152,436▼ $5,625
Savings and Temporary Cash Investments$75,498$49,762▼ $25,736
Cash and Non-Interest-Bearing Accounts$3,136$3,136→ $0
Total Assets$236,695$205,334▼ $31,361
Liabilities
Other Liabilities$901$847▼ $54
Total Liabilities$901$847▼ $54
Net Assets / Fund Balance
Unrestricted Net Assets$235,794$204,487▼ $31,307
Total Net Assets Fund Balance$235,794$204,487▼ $31,307
Total Liabilities and Net Assets / Fund Balance$236,695$205,334▼ $31,361

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$151,866$38,656$190,522
Other Land Buildings-$40,670$40,670
Equipment$570$27,765$28,335
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Dan HoweExecutive DiFT$70,864$70,864

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$128,961
Program Service Revenue
$70,987
Investment Income
$143
Other Revenue
$1,481
All Other Contributions
$21,617
Change in Net Assets
$-31,307
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$166,285
Grants and Similar Amounts Paid$51,786
Salaries, Compensation, and Employee Benefits$14,808
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$51,786--$51,786
All Other Expenses$7,128$9,610-$16,738
Other Salaries and Wages$6,878$6,878-$13,756
Advertising$13,024--$13,024
Conferences and Meetings-$7,277-$7,277
Depreciation Depletion$5,625--$5,625
Occupancy$4,826--$4,826
Insurance$4,457--$4,457
Other Expenses$2,887$794-$3,681
Office Expenses$1,068$1,069-$2,137
Fees for Services Accounting-$1,479-$1,479
Payroll Taxes$526$526-$1,052
Fees for Services Legal-$125-$125
Total Functional Expenses$151,973$80,906$0$232,879
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
CHILDREN'S THERAPY CONCEPTSFranklin, VA-Business Develpoment$9,220
Tiers to YouFranklin, VA-Business Development$8,534
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$847
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Governing body will review form 990 during the annual board meeting.

Form 990, Page 6, Part VI, Line 15A

The compensation for the executive director is determined by the city of franklin, va and is included as a part of the funding received from the city, however he is an employee of the city of franklin and the payroll is not reflected as part of this return.

Form 990, Page 6, Part VI, Line 15B

There are no other compensated officers or key employees besides the director.

Form 990, Page 6, Part VI, Line 19

Copies of governing documents made upon request.

Filing and Contact Details

Filer

Filer Name
Downtown Franklin Association
EIN
26-0011687
Phone
7575626900
Address
120 S MAIN ST, FRANKLIN, VA 23851

Signing Officer

Name
Dan Howe
Title
Executive Director
Phone
7575626900
Signed
2019-11-01

Organization Details

Principal Officer
Dan Howe
Formed
2001
Legal Domicile
Va
Voting Board Members
15
Independent Board Members
15
Employees
1
Volunteers
28

Preparer

Firm
Burgess & Co Plc Cpas
Address
PO BOX 634, FRANKLIN, VA 23851
Preparer
Julie C Griggs CPA
Phone
7575698156
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

Establish consensus and cooperation by building effective partnerships among all downtown stakeholders.

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IRS990/ProgramServiceRevenueGrp/Desc0SUMMER CONCERTS
IRS990/ProgramServiceRevenueGrp/Desc1FALL FESTIVAL
IRS990/ProgramServiceRevenueGrp/Desc2FARMER'S MARKET
IRS990/ProgramServiceRevenueGrp/Desc3OTHER EVENTS
IRS990/ProgramServiceRevenueGrp/Desc4CHRISTMAS PARADE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt052595
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt113269
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt22822
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt31950
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4353
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt052595
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt113269
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt22822
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31950
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4353
IRS990/ProgSrvcAccomActy2Grp/Desc0CREATE AND MARKET A POSITIVE IMAGE BASED ON THE UNIQUE ATTRIBUTES OF THE DOWNTOWN DISTRICT.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt019587
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt052595
IRS990/ProgSrvcAccomActy3Grp/Desc0STRENGTHEN DOWNTOWN'S EXISTING ECONOMIC ASSETS AND FULFILLING ITS BROADEST MARKET POTENTIAL.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt074519
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt018392
IRS990/ProgSrvcAccomActyOtherGrp/Desc0ESTABLISH CONSENSUS AND COOPERATION BY BUILDING EFFECTIVE PARTNERSHIPS AMONG ALL DOWNTOWN STAKEHOLDERS.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0134028
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt055459
IRS990/PYInvestmentIncomeAmt0356
IRS990/PYOtherExpensesAmt0174982
IRS990/PYOtherRevenueAmt0-256
IRS990/PYProgramServiceRevenueAmt087243
IRS990/PYRevenuesLessExpensesAmt0-28255
IRS990/PYSalariesCompEmpBnftPaidAmt019185
IRS990/PYTotalExpensesAmt0249626
IRS990/PYTotalRevenueAmt0221371
IRS990/ReconcilationRevenueExpnssAmt0-31307
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt075498
IRS990/SavingsAndTempCashInvstGrp/EOYAmt049762
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt076617
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt082188
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0134500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt063000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt071000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0427305
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearAmt06000
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus1YearAmt06000
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus2YearsAmt06000
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus3YearsAmt06000
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus4YearsAmt06000
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt030000
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0143
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0356
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0174
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0164
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0270
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01107
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0166003
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.95560
IRS990ScheduleA/PublicSupportPY170Pct00.94560
IRS990ScheduleA/PublicSupportTotal170Amt0721907
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearAmt052344
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearMinus1YearAmt051840
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearMinus2YearsAmt052328
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearMinus3YearsAmt056297
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearMinus4YearsAmt051793
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt0264602
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0134961
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0140028
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0192828
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0125297
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0128793
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0721907
IRS990ScheduleA/TotalSupportAmt0755487
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus3YearsAmt032473
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt032473
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0151866
IRS990ScheduleD/BuildingsGrp/DepreciationAmt038656
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0190522
IRS990ScheduleD/EquipmentGrp/BookValueAmt0570
IRS990ScheduleD/EquipmentGrp/DepreciationAmt027765
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt028335
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt040670
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt040670
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0847
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0152436
IRS990ScheduleD/TotalLiabilityAmt0847
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt09220
IRS990ScheduleI/RecipientTable/CashGrantAmt18534
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0BUSINESS DEVELPOMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1BUSINESS DEVELOPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CHILDREN'S THERAPY CONCEPTS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1TIERS TO YOU
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0107 E 3RD AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1116 E FIRST AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FRANKLIN
IRS990ScheduleI/RecipientTable/USAddress/CityNm1FRANKLIN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1VA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd023851
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd123851
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0DOMESTIC ORGANIZATION GRANTS - GRANTEES ARE REQUIRED TO PROVIDE DOCUMENTATION OF ELIGIBLE COSTS PRIOR TO ORGANIZATION PAYING ANY GRANT FUNDS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ESTABLISH CONSENSUS AND COOPERATION BY BUILDING EFFECTIVE PARTNERSHIPS AMONG ALL DOWNTOWN STAKEHOLDERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING BODY WILL REVIEW FORM 990 DURING THE ANNUAL BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION FOR THE EXECUTIVE DIRECTOR IS DETERMINED BY THE CITY OF FRANKLIN, VA AND IS INCLUDED AS A PART OF THE FUNDING RECEIVED FROM THE CITY, HOWEVER HE IS AN EMPLOYEE OF THE CITY OF FRANKLIN AND THE PAYROLL IS NOT REFLECTED AS PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE ARE NO OTHER COMPENSATED OFFICERS OR KEY EMPLOYEES BESIDES THE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COPIES OF GOVERNING DOCUMENTS MADE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19

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