Civic Intelligence

Downtown Rapid City Economic Development

990 • Fiscal year 2015 • EIN 26-2854507

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 10, 2016

512 Main Street Suite 100Rapid City, SD 57701

(605) 716-7979

Siviq Scores

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

Liabilities / Assets

26th percentile

0.05x

Higher debt load relative to assets than 26% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

25th percentile

0.04x

Higher debt load relative to revenue than 25% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Net Margin

6th percentile

-18%

Higher net margin than 6% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$101,955

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Asset Growth

7th percentile

-18%

Faster asset growth than 7% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

1st percentile

-61%

Faster revenue growth than 1% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,800,698

Down $383,479 (-18%) from 2014

Net Assets

Down

$1,718,582

Down $353,270 (-17%) from 2014

Liabilities

Down

$82,116

Down $30,209 (-27%) from 2014

Revenue

Down

$1,947,854

Down $3,014,135 (-61%) from 2014

Expenses

Down

$2,301,124

Down $2,936,786 (-56%) from 2014

Net Income

Down

-$353,270

Down $77,349 (-28%) from 2014

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $3,180,337Liabilities 2010: $71,317Net Assets 2010: $3,109,0202010Assets 2011: $1,980,582Liabilities 2011: $133,421Net Assets 2011: $1,847,1612011Assets 2012: $2,688,726Liabilities 2012: $104,115Net Assets 2012: $2,584,6112012Assets 2013: $2,548,252Liabilities 2013: $200,479Net Assets 2013: $2,347,7732013Assets 2014: $2,184,177Liabilities 2014: $112,325Net Assets 2014: $2,071,8522014Assets 2015: $1,800,698Liabilities 2015: $82,116Net Assets 2015: $1,718,5822015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2015

Assets$1,800,698
Liabilities$82,116
Net Assets$1,718,582

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,259,0322010Expenses 2011: $3,827,1342011Expenses 2012: $1,764,9342012Revenue 2013: $3,155,732Expenses 2013: $3,392,569Net Income 2013: -$236,8372013Revenue 2014: $4,961,989Expenses 2014: $5,237,910Net Income 2014: -$275,9212014Revenue 2015: $1,947,854Expenses 2015: $2,301,124Net Income 2015: -$353,2702015Revenue 2016: $0Expenses 2016: $0Net Income 2016: $02016

Highlighted filing

2015

Revenue$1,947,854
Expenses$2,301,124
Net Income-$353,270
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 10, 2016
Return Version
2015v2.1
Gross Receipts
$1,948,997
Mission and Program Overview

Mission

The organization is committed to support, encourage, advocate and preserve the vitality and aesthetic beauty of the downtown rapid city business community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$122,908$634,485▲ $511,577
Savings and Temporary Cash Investments$503,311$503,922▲ $611
Pledges and Grants Receivable$1,275,066$362,031▼ $913,035
Land, Buildings, and Equipment, Net$276,485$297,121▲ $20,636
Prepaid Expenses and Deferred Charges$4,892$2,389▼ $2,503
Accounts Receivable$1,515$750▼ $765
Total Assets$2,184,177$1,800,698▼ $383,479
Liabilities
Deferred Revenue-$50,768-
Accounts Payable and Accrued Expenses$112,325$31,348▼ $80,977
Total Liabilities$112,325$82,116▼ $30,209
Net Assets / Fund Balance
Unrestricted Net Assets$971,852$1,046,841▲ $74,989
Temporarily Rstr Net Assets$1,100,000$671,741▼ $428,259
Total Net Assets Fund Balance$2,071,852$1,718,582▼ $353,270
Total Liabilities and Net Assets / Fund Balance$2,184,177$1,800,698▼ $383,479

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$297,121$341,362$638,483
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dan SenftnerPresident/ceFT$96,531$5,424$101,955
Lori LadwigBookkeeperFT$38,936$3,711$42,647

Board Members and Trustees

NameTitle
Ray HillenbrandChairman
Paul BradskyVice Chairpe
Heather WilsonDirector
Jim AdelsteinDirector
Linda RabeDirector
Loretta VegaDirector
Megan WhitmanDirector
Pete LienDirector
Steve AllenderDirector
Patrick BurchillTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Scull ConstructionConstructionPO BOX 7636, Rapid City, SD 57709$343,331
Masayuki NagaseSculptor1801 CEDAR ST, Berkeley, CA 94703$342,000
Revenue and Support

Revenue Composition

Contributions and Grants
$1,811,858
Program Service Revenue
$136,009
Investment Income
$-532
Other Revenue
$519
All Other Contributions
$1,811,858
Change in Net Assets
$-353,270

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,947,854
Revenue Not Reported on Form 990
$950
Total Revenue per Audited Statements
$1,948,804
Total Revenue per Form 990
$1,947,854
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,382,547
Grants and Similar Amounts Paid$641,155
Salaries, Compensation, and Employee Benefits$277,422
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$641,155
Current Officers, Directors, Trustees, and Key Employees---$144,602
Advertising---$109,014
Other Salaries and Wages---$105,530
Other Expenses---$89,060
Depreciation Depletion---$88,731
Fees for Services Other---$49,443
Occupancy---$35,746
Insurance---$23,786
Office Expenses---$20,028
Payroll Taxes---$18,990
Travel---$12,832
Information Technology---$11,572
Fees for Services Accounting---$7,442
All Other Expenses---$6,294
Fees for Services Legal---$5,766
Pension Plan Contributions---$5,498
Other Employee Benefits---$2,802
Conferences and Meetings---$2,637
Total Functional Expenses$0$0$0$2,301,124

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,302,074
Expenses per Audited Statements$2,301,124
Total Expenses per Form 990$2,301,124
Expenses Not Reported on Form 990$950
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Main Street SquareRapid City, SD3Promote Development$494,500
Arts Rapid CityRapid City, SD3Promote Development$50,000
City of Rapid CityRapid City, SDGovPromote Development$14,920
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The form 990 is prepared by a licensed cpa and reviewed in detail by the ceo and accountant. The board of directors approves the form 990 prior to filing with the irs.

Form 990, Page 6, Part VI, Line 12C

Officers, directors and board members are required to disclose any conflicts of interest as they occur. The board requires individuals to abstain from discussing and voting on any conflicted matters.

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

The organization performs a comparative analysis with other cities and their downtown manager, as well as reviewing salaries from the international downtown association. This process is performed for individuals in all positions. Compensation is approved by the board of directors and appropriately documented for the ceo.

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

See discussion of process used at 15a.

Form 990, Page 6, Part VI, Line 19

Governing documents, financial statements and the conflict of interest policy are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Downtown Rapid City Economic
EIN
26-2854507
Phone
6057167979
Address
512 MAIN STREET SUITE 100, RAPID CITY, SD 57701
Doing Business As
Destination Rapid City

Signing Officer

Name
Dan Senftner
Title
President/CEO
Phone
6057167979
Signed
2016-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dan Senftner
Formed
2008
Legal Domicile
Sd
Voting Board Members
11
Independent Board Members
10
Employees
11

Preparer

Firm
Ketel Thorstenson Llp
Address
PO BOX 3140, RAPID CITY, SD 57709-3140
Preparer
Jean Smith CPA
Phone
6053425630
Supplemental Narrative

Additional Explanations

Form 990

On 1/1/16, the organization ceased operations and merged with main street square, inc. A separate 501(c)(3) organization.

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

The organization constructed the memorial park promenade, a landscaped walkway between downtown and the civic center. The promenade is an appealing and attractive walking experience that provides a place for spontaneous social gatherings, vendors, small street scale performers, and other urban activities. An expansion of this project was completed in 2014 that involved the construction of various playgrounds and gardens in memorial park. Final construction additions were completed in 2015.

Form 990, Part XI, Line 9

Revenue classified as expense on audit 950 revenue classified as expense on audit -950

Financial Statement Notes

Schedule D, Page 3, Part X

At december 31, 2015 and 2014, the organization believes no material uncertain tax positions or liabilities, or interest and penalties associated with uncertain tax positions, exist.

Schedule D, Page 4, Part XI, Line 2D

Revenue classified as expense on audit 950

Schedule D, Page 4, Part XII, Line 2D

Revenue classified as expense on audit 950

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IRS990/OtherExpensesGrp/Desc0PROMENADE/LEGACY CONST
IRS990/OtherExpensesGrp/Desc1SCULPTURE PROJECT
IRS990/OtherExpensesGrp/Desc2OTHER DOWNTOWN PROJECTS
IRS990/OtherExpensesGrp/Desc3GREEN TEAM
IRS990/OtherExpensesGrp/TotalAmt0383452
IRS990/OtherExpensesGrp/TotalAmt1348223
IRS990/OtherExpensesGrp/TotalAmt2188521
IRS990/OtherExpensesGrp/TotalAmt389060
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0519
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0519
IRS990/OtherRevenueTotalAmt0519
IRS990/OtherSalariesAndWagesGrp/TotalAmt0105530
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt018990
IRS990/PensionPlanContributionsGrp/TotalAmt05498
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01275066
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0362031
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04892
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02389
IRS990/PrincipalOfficerNm0DAN SENFTNER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0812900
IRS990/ProgramServiceRevenueGrp/Desc0BID REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0136009
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0136009
IRS990/ProgSrvcAccomActy2Grp/Desc0THE ORGANIZATION ASSISTED IN THE DEVELOPMENT OF MAIN STREET SQUARE, AN OUTDOOR EVENTS VENUE IN RAPID CITY, SOUTH DAKOTA THAT PROVIDES AN ACTIVE GATHERING PLACE FOR THE ENTIRE COMMUNITY. THE SQUARE WAS COMPLETED IN 2011. OWNERSHIP IS MAINTAINED BY THE CITY OF RAPID CITY AND SQUARE OPERATIONS ARE PART OF A SEPARATE 501(C)(3) ORGANIZATION. THE ORGANIZATION OVERSEES MANAGEMENT OF THE SQUARE THROUGH AN OPERATING AGREEMENT WITH THE CITY OF RAPID CITY. ON 1/1/16, ALL ASSETS OF THE ORGANIZATION WERE CONTRIBUTED TO THIS SEPARATE 501(C)(3) ORGANIZATION THROUGH A MERGER OF THE TWO ENTITIES.
IRS990/ProgSrvcAccomActy3Grp/Desc0THE ORGANIZATION PROMOTES THE ARTS IN DOWNTOWN RAPID CITY. AS PART OF THIS PROMOTION, A SCULTURE PROJECT WAS STARTED THAT WILL POSITION RAPID CITY AS AN ARTS DESTINATION. THE PROJECT IS THE LARGEST PRIVATELY FUNDED PUBLIC ART COMMISSION UNDERWAY IN THE UNITED STATES. THE SCULPTOR WORKS IN THE PUBLIC VIEW AND FOCUSES ON COMMUNITY INPUT AND INVOLVEMENT.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE ORGANIZATION CONSTRUCTED THE MEMORIAL PARK PROMENADE, A LANDSCAPED WALKWAY BETWEEN DOWNTOWN AND THE CIVIC CENTER. THE PROMENADE IS AN APPEALING AND ATTRACTIVE WALKING EXPERIENCE THAT PROVIDES A PLACE FOR SPONTANEOUS SOCIAL GATHERINGS, VENDORS, SMALL STREET SCALE PERFORMERS, AND OTHER URBAN ACTIVITIES. AN EXPANSION OF THIS PROJECT WAS COMPLETED IN 2014 THAT INVOLVED THE CONSTRUCTION OF VARIOUS PLAYGROUNDS AND GARDENS IN MEMORIAL PARK. FINAL CONSTRUCTION ADDITIONS WERE COMPLETED IN 2015.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt04960004
IRS990/PYGrantsAndSimilarPaidAmt0754531
IRS990/PYInvestmentIncomeAmt0754
IRS990/PYOtherExpensesAmt04215032
IRS990/PYOtherRevenueAmt01231
IRS990/PYRevenuesLessExpensesAmt0-275921
IRS990/PYSalariesCompEmpBnftPaidAmt0268347
IRS990/PYTotalExpensesAmt05237910
IRS990/PYTotalRevenueAmt04961989
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-353270
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0503311
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0503922
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt0297121
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0341362
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0638483
IRS990ScheduleD/ExpensesNotReportedAmt0950
IRS990ScheduleD/ExpensesSubtotalAmt02301124
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesIncludedAmt0950
IRS990ScheduleD/OtherRevenueAmt0950
IRS990ScheduleD/RevenueNotReportedAmt0950
IRS990ScheduleD/RevenueSubtotalAmt01947854
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0AT DECEMBER 31, 2015 AND 2014, THE ORGANIZATION BELIEVES NO MATERIAL UNCERTAIN TAX POSITIONS OR LIABILITIES, OR INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, EXIST.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1REVENUE CLASSIFIED AS EXPENSE ON AUDIT 950
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2REVENUE CLASSIFIED AS EXPENSE ON AUDIT 950
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0297121
IRS990ScheduleD/TotalExpensesPerForm990Amt02301124
IRS990ScheduleD/TotalRevenuePerForm990Amt01947854
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01948804
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02302074
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0494500
IRS990ScheduleI/RecipientTable/CashGrantAmt150000
IRS990ScheduleI/RecipientTable/CashGrantAmt214920
IRS990ScheduleI/RecipientTable/IRCSectionDesc03
IRS990ScheduleI/RecipientTable/IRCSectionDesc13
IRS990ScheduleI/RecipientTable/IRCSectionDesc2GOV
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt071000
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0TURF
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0PROMOTE DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1PROMOTE DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2PROMOTE DEVELOPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MAIN STREET SQUARE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1ARTS RAPID CITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2CITY OF RAPID CITY
IRS990ScheduleI/RecipientTable/RecipientEIN0273983146
IRS990ScheduleI/RecipientTable/RecipientEIN1464265850
IRS990ScheduleI/RecipientTable/RecipientEIN2466000380
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0512 MAIN STREET SUITE 980
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1512 MAIN STREET SUITE 980
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2300 6TH ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0RAPID CITY
IRS990ScheduleI/RecipientTable/USAddress/CityNm1RAPID CITY
IRS990ScheduleI/RecipientTable/USAddress/CityNm2RAPID CITY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0SD
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1SD
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2SD
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd057701
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd157701
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd257701
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0COST BASIS
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS FINANCIAL AND PROGRAM REPORTS OF MAIN STREET SQUARE AT ITS MONTHLY MEETINGS IN ORDER TO VERIFY ALL FUNDS ARE UTILITIZED IN THE PROMOTION OF DOWNTOWN RAPID CITY. ARTS RAPID CITY MAINTAINED ITS OFFICES AT THE ORGANIZATION AND THE ORGANIZATION'S PRESIDENT/CEO WAS ON THE BOARD OF ARTS RAPID CITY. THIS ALLOWED CLOSE MONITORING OF HOW FUNDS WERE SPENT. THE CITY OF RAPID CITY COORDINATED USE OF FUNDS WITH THE ORGANIZATION TO ENSURE THEY WERE SPENT APPROPRIATELY.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990ScheduleI/Total501c3OrgCnt03
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ON 1/1/16, THE ORGANIZATION CEASED OPERATIONS AND MERGED WITH MAIN STREET SQUARE, INC. A SEPARATE 501(C)(3) ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION CONSTRUCTED THE MEMORIAL PARK PROMENADE, A LANDSCAPED WALKWAY BETWEEN DOWNTOWN AND THE CIVIC CENTER. THE PROMENADE IS AN APPEALING AND ATTRACTIVE WALKING EXPERIENCE THAT PROVIDES A PLACE FOR SPONTANEOUS SOCIAL GATHERINGS, VENDORS, SMALL STREET SCALE PERFORMERS, AND OTHER URBAN ACTIVITIES. AN EXPANSION OF THIS PROJECT WAS COMPLETED IN 2014 THAT INVOLVED THE CONSTRUCTION OF VARIOUS PLAYGROUNDS AND GARDENS IN MEMORIAL PARK. FINAL CONSTRUCTION ADDITIONS WERE COMPLETED IN 2015.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY A LICENSED CPA AND REVIEWED IN DETAIL BY THE CEO AND ACCOUNTANT. THE BOARD OF DIRECTORS APPROVES THE FORM 990 PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICERS, DIRECTORS AND BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST AS THEY OCCUR. THE BOARD REQUIRES INDIVIDUALS TO ABSTAIN FROM DISCUSSING AND VOTING ON ANY CONFLICTED MATTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION PERFORMS A COMPARATIVE ANALYSIS WITH OTHER CITIES AND THEIR DOWNTOWN MANAGER, AS WELL AS REVIEWING SALARIES FROM THE INTERNATIONAL DOWNTOWN ASSOCIATION. THIS PROCESS IS PERFORMED FOR INDIVIDUALS IN ALL POSITIONS. COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS AND APPROPRIATELY DOCUMENTED FOR THE CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SEE DISCUSSION OF PROCESS USED AT 15A.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND THE CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7REVENUE CLASSIFIED AS EXPENSE ON AUDIT 950 REVENUE CLASSIFIED AS EXPENSE ON AUDIT -950
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt01100000
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0671741
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02184177
IRS990/TotalAssetsEOYAmt01800698
IRS990/TotalAssetsGrp/BOYAmt02184177
IRS990/TotalAssetsGrp/EOYAmt01800698
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01811858
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02301124
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0112325
IRS990/TotalLiabilitiesEOYAmt082116
IRS990/TotalLiabilitiesGrp/BOYAmt0112325
IRS990/TotalLiabilitiesGrp/EOYAmt082116
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02071852
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01718582
IRS990/TotalOtherCompensationAmt09135
IRS990/TotalProgramServiceRevenueAmt0136009

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