Civic Intelligence

Main Street Square Incorporated

990 • Fiscal year 2017 • EIN 27-3983146

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 14, 2018

512 Main Street Suite 980Rapid City, SD 57701

(605) 716-7979

Siviq Scores

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

Liabilities / Assets

39th percentile

0.04x

Higher debt load relative to assets than 39% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

29th percentile

0.03x

Higher debt load relative to revenue than 29% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

25th percentile

-6.4%

Higher net margin than 25% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

68th percentile

$97,615

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

8th percentile

-15%

Faster asset growth than 8% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

71st percentile

18%

Faster revenue growth than 71% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$1,239,982

Down $217,631 (-15%) from 2016

Net Assets

Down

$1,187,598

Down $126,490 (-9.6%) from 2016

Liabilities

Down

$52,384

Down $91,141 (-64%) from 2016

Revenue

Up

$1,966,423

Up $300,764 (+18%) from 2016

Expenses

Down

$2,092,913

Down $67,916 (-3.1%) from 2016

Net Income

Up

-$126,490

Up $368,680 (+74%) from 2016

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2012: $714,530Liabilities 2012: $619,892Net Assets 2012: $94,6382012Assets 2013: $659,074Liabilities 2013: $617,359Net Assets 2013: $41,7152013Assets 2014: $1,207,780Liabilities 2014: $1,198,958Net Assets 2014: $8,8222014Assets 2015: $448,178Liabilities 2015: $357,502Net Assets 2015: $90,6762015Assets 2016: $1,457,613Liabilities 2016: $143,525Net Assets 2016: $1,314,0882016Assets 2017: $1,239,982Liabilities 2017: $52,384Net Assets 2017: $1,187,5982017Assets 2018: $1,522,005Liabilities 2018: $47,216Net Assets 2018: $1,474,7892018Assets 2019: $1,326,138Liabilities 2019: $61,573Net Assets 2019: $1,264,5652019Assets 2020: $1,459,405Liabilities 2020: $35,008Net Assets 2020: $1,424,3972020Assets 2021: $1,564,054Liabilities 2021: $34,663Net Assets 2021: $1,529,3912021Assets 2022: $1,669,966Liabilities 2022: $128,265Net Assets 2022: $1,541,7012022Assets 2023: $1,642,732Liabilities 2023: $103,761Net Assets 2023: $1,538,9712023Assets 2024: $1,674,835Liabilities 2024: $170,030Net Assets 2024: $1,504,8052024

Highlighted filing

2017

Assets$1,239,982
Liabilities$52,384
Net Assets$1,187,598

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $1,547,0692012Revenue 2013: $1,049,374Expenses 2013: $1,102,298Net Income 2013: -$52,9242013Revenue 2014: $1,642,913Expenses 2014: $1,675,806Net Income 2014: -$32,8932014Revenue 2015: $1,209,922Expenses 2015: $1,128,068Net Income 2015: $81,8542015Revenue 2016: $1,665,659Expenses 2016: $2,160,829Net Income 2016: -$495,1702016Revenue 2017: $1,966,423Expenses 2017: $2,092,913Net Income 2017: -$126,4902017Revenue 2018: $1,741,244Expenses 2018: $1,454,052Net Income 2018: $287,1922018Revenue 2019: $1,348,174Expenses 2019: $1,558,398Net Income 2019: -$210,2242019Revenue 2020: $1,223,798Expenses 2020: $1,063,966Net Income 2020: $159,8322020Revenue 2021: $1,364,415Expenses 2021: $1,260,515Net Income 2021: $103,9002021Revenue 2022: $1,099,464Expenses 2022: $1,065,591Net Income 2022: $33,8732022Revenue 2023: $1,186,863Expenses 2023: $1,203,589Net Income 2023: -$16,7262023Revenue 2024: $1,219,065Expenses 2024: $1,268,663Net Income 2024: -$49,5982024

Highlighted filing

2017

Revenue$1,966,423
Expenses$2,092,913
Net Income-$126,490
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$1,966,423
Mission and Program Overview

Mission

The organization operates a town square (which is owned by the city of rapid city) in the heart of downtown rapid city in order to provide an active gathering place for the entire community, to invite more pedestrian traffic downtown, and to strengthen the center of the community. This includes supporting, encouraging, advocating, and preserving the vitality and aesthetic beauty of the downtown rapid city business community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$439,627$459,993▲ $20,366
Cash and Non-Interest-Bearing Accounts$577,609$392,486▼ $185,123
Land, Buildings, and Equipment, Net$382,852$308,470▼ $74,382
Pledges and Grants Receivable$48,116$61,519▲ $13,403
Accounts Receivable$6,512$11,537▲ $5,025
Inventories for Sale or Use$2,897$5,977▲ $3,080
Total Assets$1,457,613$1,239,982▼ $217,631
Liabilities
Accounts Payable and Accrued Expenses$143,525$52,384▼ $91,141
Total Liabilities$143,525$52,384▼ $91,141
Net Assets / Fund Balance
Unrestricted Net Assets$884,491$1,168,999▲ $284,508
Temporarily Rstr Net Assets$429,597$18,599▼ $410,998
Total Net Assets Fund Balance$1,314,088$1,187,598▼ $126,490
Total Liabilities and Net Assets / Fund Balance$1,457,613$1,239,982▼ $217,631

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$308,470$528,520$836,990
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dan SenftnerPresident/ceFT$84,864$12,751$97,615
Megan WhitmanExecutive DiFT$65,052$8,678$73,730
Lori LadwigBookkeeperFT$30,490$3,933$34,423

Board Members and Trustees

NameTitle
Paul BradskyChairman
Dan TribbyVice Chairma
Andrew ScullDirector
Dr Jim RankinDirector
Jim AdelsteinDirector
Julie JensenDirector
Linda RabeDirector
Loretta VegaDirector
Max PatnoeDirector
Steve AllenderDirector
Tim JohnsonDirector
Jody BenderTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Masayuki NagaseSculptor1801 CEDAR ST, Berkeley, CA 94703$636,268
Revenue and Support

Revenue Composition

Contributions and Grants
$1,299,568
Program Service Revenue
$633,557
Investment Income
$30,366
Other Revenue
$2,932
All Other Contributions
$1,299,568
Change in Net Assets
$-126,490

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,965,606
Revenue Not Reported on Financial Statements
$817
Revenue Not Reported on Form 990
$9,194
Other Revenue Adjustments
$817
Total Revenue per Audited Statements
$1,974,800
Total Revenue per Form 990
$1,966,423
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,382,818
Salaries, Compensation, and Employee Benefits$710,095
Total Fundraising Expense$113,982
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$304,285$65,204$65,204$434,693
Current Officers, Directors, Trustees, and Key Employees$144,038$30,865$30,865$205,768
Occupancy$105,591$18,915-$124,506
Advertising$110,598--$110,598
Depreciation Depletion$68,888$7,654-$76,542
Insurance$41,920$10,480-$52,400
Payroll Taxes$33,956$7,276$7,276$48,508
Office Expenses$14,516$22,244-$36,760
Information Technology$20,931$4,812-$25,743
Fees for Services Accounting-$23,996-$23,996
Other Expenses$18,046-$8,797$18,046
Travel$14,248$2,836-$17,084
Fees for Services Other$10,908$3,868-$14,776
Pension Plan Contributions$8,587$1,840$1,840$12,267
Other Employee Benefits$6,202$2,657-$8,859
Conferences and Meetings$3,006$131-$3,137
Total Functional Expenses$1,776,153$202,778$113,982$2,092,913

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,101,290
Total Expenses per Form 990$2,092,913
Expenses per Audited Statements$2,092,096
Expenses Not Reported on Form 990$9,194
Expenses Not Reported on Financial Statements$817
Other Expense Adjustments$817
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Steve AllenderBusinessBid RevenueNo$179,003
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
No
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 executive director 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
Main Street Square
EIN
27-3983146
Phone
6057167979
Address
512 MAIN STREET SUITE 980, RAPID CITY, SD 57701

Signing Officer

Name
Dan Senftner
Title
President/CEO
Phone
6057167979
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dan Senftner
Formed
2010
Legal Domicile
Sd
Voting Board Members
13
Independent Board Members
10
Employees
46
Volunteers
500

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 - ORGANIZATION'S MISSION

The organization operates a town square (which is owned by the city of rapid city) in the heart of downtown rapid city in order to provide an active gathering place for the entire community, to invite more pedestrian traffic downtown, and to strengthen the center of the community. This includes supporting, encouraging, advocating, and preserving the vitality and aesthetic beauty of the downtown rapid city business community.

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

The organization leads efforts to redevelop and revitalize downtown rapid city through improving streetscapes and facades, enhancing the business mix downtown, and providing clean and safe programs. The organization also maintains a website and distributes literature promoting downtown businesses and events. The organization promotes the arts in downtown rapid city. As part of this promotion, a sculpture project was completed that will position rapid city as an arts destination. The project was the largest privately funded public art commission underway in the united states and was completed in 2017. The sculptor worked in the public view and focused on community input and involvement.

Form 990, Part XI, Line 9

Expense in revenue -817 expense in revenue 817

Financial Statement Notes

Schedule D, Page 3, Part X

The organization is exempt from federal income tax under internal revenue code section 501(c)(3), and is not considered to be a private foundation under section 509(a). At december 31, 2017 and 2016, the organization believes no material uncertain tax positions or liabilites, or interest and penalties associated with uncertain tax positions exist.

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

EXPENSE IN REVENUE 817

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

EXPENSE IN REVENUE 817

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