Main Street Square Incorporated

“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.”

“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.”

“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.”

“See discussion of process used at 15a.”

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

“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.”

“The organization oversees management of main street square through an operating agreement with the city of rapid city. During 2021, main street square held over 40 events and drew between 100,000 - 200,000 people to the square and downtown rapid city. An interactive water fountain operates in the summer months, and an ice skating rink operates in the winter months. A visitor information center is open during all events to provide information on the local community. Events held during 2021 included holiday celebrations, moonlit movies, thursday night concert series, and much more. Main street square also educates other cities on economic development and,in turn, utilizes these opportunities to make improvements in its events. 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.”

“Bad debt expense -38,990 bad debt expense 38,990”