Civic Intelligence

Downers Grove Downtown

990 • Fiscal year 2020 • EIN 36-4288709

May 01, 2020 to Dec 31, 2020 • Filed on Nov 08, 2021

Organization ProfileWWW.DOWNTOWNDG.ORG
933A Curtiss StreetDowners Grove, IL 60515

(630) 725-0991

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

$212,017

No earlier filing loaded for comparison.

Net Assets

$211,667

No earlier filing loaded for comparison.

Liabilities

$350

No earlier filing loaded for comparison.

Revenue And Expenses

Revenue

$159,204

No earlier filing loaded for comparison.

Expenses

$180,992

No earlier filing loaded for comparison.

Net Income

-$21,788

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2020: $233,455Liabilities 2020: $0Net Assets 2020: $233,4552020Assets 2020: $212,017Liabilities 2020: $350Net Assets 2020: $211,6672020Assets 2021: $271,409Liabilities 2021: $350Net Assets 2021: $271,0592021Assets 2022: $374,543Liabilities 2022: $350Net Assets 2022: $374,1932022Assets 2023: $470,227Liabilities 2023: $350Net Assets 2023: $469,8772023Assets 2024: $547,521Liabilities 2024: $350Net Assets 2024: $547,1712024

Highlighted filing

2020

Assets$212,017
Liabilities$350
Net Assets$211,667
Open 2020 Filing

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2020: $288,229Expenses 2020: $249,871Net Income 2020: $38,3582020Revenue 2020: $159,204Expenses 2020: $180,992Net Income 2020: -$21,7882020Revenue 2021: $414,737Expenses 2021: $355,365Net Income 2021: $59,3722021Revenue 2022: $478,456Expenses 2022: $375,322Net Income 2022: $103,1342022Revenue 2023: $514,522Expenses 2023: $418,838Net Income 2023: $95,6842023Revenue 2024: $521,830Expenses 2024: $444,536Net Income 2024: $77,2942024

Highlighted filing

2020

Revenue$159,204
Expenses$180,992
Net Income-$21,788
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2020 to Dec 31, 2020
Signed
Nov 8, 2021
Return Version
2020v4.1
Gross Receipts
$159,204
Mission and Program Overview

Mission

Downers grove downtown management corporation was organized for the purpose of promoting the development and expansion of business and the increased valuation of property within the special service area number two in downers grove, illinois.

Promoting the development and expansion of business and the increased valuation of property.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$192,547$172,096▼ $20,451
Savings and Temporary Cash Investments$39,658$39,664▲ $6
Land, Buildings, and Equipment, Net$1,250$257▼ $993
Total Assets$233,455$212,017▼ $21,438
Liabilities
Accounts Payable and Accrued Expenses-$350-
Total Liabilities$0$350▲ $350
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$233,455$211,667▼ $21,788
Total Net Assets Fund Balance$233,455$211,667▼ $21,788
Total Liabilities and Net Assets / Fund Balance$233,455$212,017▼ $21,438

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$18,398$18,398
Leasehold Improvements$257$15,032$15,289
Other Land Buildings$0$2,189$2,189
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erin VeneziaExecutive Director/managerFT$70,092$41$70,133

Board Members and Trustees

NameTitle
Phil StrombergChairman
Paul GloverVice Chairman
Bill MarshallDirector
Geoff AndermanDirector
Larry BoikDirector
Mike CarewDirector
Theresa SchulzDirector
Kathy BurnsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$126,062
Program Service Revenue
$22,868
Investment Income
$6
Other Revenue
$10,268
Change in Net Assets
$-21,788
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$117,664
Salaries, Compensation, and Employee Benefits$63,328
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$46,770
Advertising---$15,220
Other Salaries and Wages---$12,011
Occupancy---$10,743
Other Expenses---$5,797
Office Expenses---$5,649
Payroll Taxes---$4,547
All Other Expenses---$3,545
Fees for Services Other---$2,400
Depreciation Depletion---$993
Insurance---$283
Conferences and Meetings---$75
Total Functional Expenses$0$0$0$180,992
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
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
No
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, Part VI, Section A, Line 6

“Members of the organization are comprised of business property owners, business owners and residential property owners within special service area number two. Business and residential property owner members are holders of real property. Business members consist of each business or profession using space and include both retail business members and service business members. Each member shall be entitled to one vote per property owned or per separate business site.”

Form 990, Part VI, Section A, Line 7A

“The members elect the eight directors to the board at the annual meeting.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is presented to the governing body for review prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The organization provides the executive director and members of the board with an annual questionnaire to identify and describe any conflict of interest.”

Form 990, Part VI, Section B, Line 15A

“The board of directors evaluates and approves the executive director's compensation annually.”

Form 990, Part VI, Section C, Line 19

“No documents are available to the public.”

Filing and Contact Details

Filer

Filer Name
Downers Grove Downtown
EIN
36-4288709
Phone
6307250991
Address
933A CURTISS STREET, DOWNERS GROVE, IL 60515

Signing Officer

Name
Erin Venezia
Title
Executive Director/manager
Phone
6307250991
Signed
2021-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erin Venezia
Formed
1999
Legal Domicile
Il
Voting Board Members
8
Independent Board Members
8
Employees
2
Volunteers
8

Preparer

Firm
Sikich Llp
Address
1415 W DIEHL RD SUITE 400, NAPERVILLE, IL 60563-2349
Preparer
Jill M Boyle CPA
Phone
6305668400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Dues & subscriptions 1,453. Payroll service fees 1,020. Wine walk expenses 600. Downtown dollars redeemed 386. Miscellaneous 86.”

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IRS990/MissionDesc0DOWNERS GROVE DOWNTOWN MANAGEMENT CORPORATION WAS ORGANIZED FOR THE PURPOSE OF PROMOTING THE DEVELOPMENT AND EXPANSION OF BUSINESS AND THE INCREASED VALUATION OF PROPERTY WITHIN THE SPECIAL SERVICE AREA NUMBER TWO IN DOWNERS GROVE, ILLINOIS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0OTHER PROMOTIONAL EVENTS INCLUDE THE SUMMER NIGHTS CLASSIC CARSHOWS HELD FRIDAYS WEEKLY FROM MAY THROUGH AUGUST, VARIOUS PARADES,THE DOWNTOWN SIDEWALK SALE, GIRLS' DAY OUT ACTIVITIES, THE WINE WALK,HALLOWEEN ACTIVITIES, VISITS WITH SANTA AND OTHER HOLIDAY ACTIVITIES, THE ICE FESTIVAL AND OTHER EVENTS THROUGHOUT THE YEAR.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS OF THE ORGANIZATION ARE COMPRISED OF BUSINESS PROPERTY OWNERS, BUSINESS OWNERS AND RESIDENTIAL PROPERTY OWNERS WITHIN SPECIAL SERVICE AREA NUMBER TWO. BUSINESS AND RESIDENTIAL PROPERTY OWNER MEMBERS ARE HOLDERS OF REAL PROPERTY. BUSINESS MEMBERS CONSIST OF EACH BUSINESS OR PROFESSION USING SPACE AND INCLUDE BOTH RETAIL BUSINESS MEMBERS AND SERVICE BUSINESS MEMBERS. EACH MEMBER SHALL BE ENTITLED TO ONE VOTE PER PROPERTY OWNED OR PER SEPARATE BUSINESS SITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS ELECT THE EIGHT DIRECTORS TO THE BOARD AT THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PRESENTED TO THE GOVERNING BODY FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION PROVIDES THE EXECUTIVE DIRECTOR AND MEMBERS OF THE BOARD WITH AN ANNUAL QUESTIONNAIRE TO IDENTIFY AND DESCRIBE ANY CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS EVALUATES AND APPROVES THE EXECUTIVE DIRECTOR'S COMPENSATION ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS ARE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DUES & SUBSCRIPTIONS 1,453. PAYROLL SERVICE FEES 1,020. WINE WALK EXPENSES 600. DOWNTOWN DOLLARS REDEEMED 386. MISCELLANEOUS 86.
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ReasonableCauseExplanation/ExplanationTxt0THE TAXPAYER INITIALLY FILED THE FORM 990 ON PAPER AS IT WAS A SHORT YEAR RETURN DUE TO A CHANGE IN ACCOUNTING PERIOD. AT THAT TIME, IN MARCH OF 2021 THE SOFTWARE PROVIDER OF THE ACCOUNTING FIRM THAT IS USED TO PREPARE THE RETURN WAS NOT ABLE TO ELECTRONICALLY FILE A SHORT PERIOD RETURN. THE ORGANIZATION IS RESUBMITTING THE RETURN IN RESPONSE TO LTR 2694C AS NOW THE SOFTWARE WILL ALLOW FOR THIS.
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ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$212,017
Liabilities
$350
Net assets
$211,667
Revenue
$159,204
Expenses
$180,992
Net income
-$21,788
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.48$0.00$5.47$5.22$4.45$0.77
2023Detailed filing. Detailed filing data is available for this year.$4.70$0.00$4.70$5.15$4.19$0.96
2022Detailed filing. Detailed filing data is available for this year.$3.75$0.00$3.74$4.78$3.75$1.03
2021Detailed filing. Detailed filing data is available for this year.$2.71$0.00$2.71$4.15$3.55$0.59
2020Detailed filing. Detailed filing data is available for this year.$2.33$0.00$2.33$2.88$2.50$0.38
2020Detailed filing. Detailed filing data is available for this year.$2.12$0.00$2.12$1.59$1.81$0.22