Civic Intelligence

Downtown Tomorrow Inc.

990 • Fiscal year 2021 • EIN 38-2513286

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 05, 2022

Organization Profiledowntownkalamazoo.org
162 East Michigan AvenueKalamazoo, MI 49007

(269) 344-0795

Siviq Scores

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

Liabilities / Assets

96th percentile

1.27x

Higher debt load relative to assets than 96% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

100th percentile

99.50x

Higher debt load relative to revenue than 100% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

1st percentile

-205%

Higher net margin than 1% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

83rd percentile

$141,317

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 753.7% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

29th percentile

0.8%

Faster asset growth than 29% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

2nd percentile

-76%

Faster revenue growth than 2% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$1,469,518

Up $11,693 (+0.8%) from 2020

Net Assets

Down

-$396,029

Down $38,459 (-11%) from 2020

Liabilities

Up

$1,865,547

Up $50,152 (+2.8%) from 2020

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$18,750

Down $60,004 (-76%) from 2020

Expenses

Down

$57,209

Down $44,522 (-44%) from 2020

Net Income

Down

-$38,459

Down $15,482 (-67%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

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

$10M$5.0M$0-$5.0MAssets 2011: $9,575,269Liabilities 2011: $9,428,389Net Assets 2011: $146,8802011Assets 2012: $8,852,687Liabilities 2012: $8,518,811Net Assets 2012: $333,8762012Assets 2013: $5,600,687Liabilities 2013: $6,081,043Net Assets 2013: -$480,3562013Assets 2014: $4,556,277Liabilities 2014: $5,463,806Net Assets 2014: -$907,5292014Assets 2015: $4,285,804Liabilities 2015: $5,262,188Net Assets 2015: -$976,3842015Assets 2016: $4,204,061Liabilities 2016: $5,117,149Net Assets 2016: -$913,0882016Assets 2017: $1,513,343Liabilities 2017: $1,758,414Net Assets 2017: -$245,0712017Assets 2018: $1,458,605Liabilities 2018: $1,767,602Net Assets 2018: -$308,9972018Assets 2019: $1,457,050Liabilities 2019: $1,791,643Net Assets 2019: -$334,5932019Assets 2020: $1,457,825Liabilities 2020: $1,815,395Net Assets 2020: -$357,5702020Assets 2021: $1,469,518Liabilities 2021: $1,865,547Net Assets 2021: -$396,0292021Assets 2022: $1,475,273Liabilities 2022: $1,876,316Net Assets 2022: -$401,0432022Assets 2023: $1,475,158Liabilities 2023: $1,876,316Net Assets 2023: -$401,1582023Assets 2024: $1,475,148Liabilities 2024: $1,876,991Net Assets 2024: -$401,8432024

Highlighted filing

2021

Assets$1,469,518
Liabilities$1,865,547
Net Assets-$396,029
Open 2021 Filing

Operations Trend

Revenue Growth2nd percentile

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

$1.0M$500K$0-$500K-$1.0MRevenue 2011: $573,294Expenses 2011: $437,718Net Income 2011: $135,5762011Revenue 2012: $604,283Expenses 2012: $417,287Net Income 2012: $186,9962012Revenue 2013: -$65,131Expenses 2013: $749,101Net Income 2013: -$814,2322013Revenue 2014: -$159,233Expenses 2014: $267,940Net Income 2014: -$427,1732014Revenue 2015: $211,619Expenses 2015: $280,474Net Income 2015: -$68,8552015Revenue 2016: $232,266Expenses 2016: $168,970Net Income 2016: $63,2962016Revenue 2017: $957,994Expenses 2017: $289,977Net Income 2017: $668,0172017Revenue 2018: $69,142Expenses 2018: $133,068Net Income 2018: -$63,9262018Revenue 2019: $68,765Expenses 2019: $94,361Net Income 2019: -$25,5962019Revenue 2020: $78,754Expenses 2020: $101,731Net Income 2020: -$22,9772020Revenue 2021: $18,750Expenses 2021: $57,209Net Income 2021: -$38,4592021Revenue 2022: $18,750Expenses 2022: $23,764Net Income 2022: -$5,0142022Revenue 2023: $0Expenses 2023: $115Net Income 2023: -$1152023Revenue 2024: $0Expenses 2024: $685Net Income 2024: -$6852024

Highlighted filing

2021

Revenue$18,750
Expenses$57,209
Net Income-$38,459
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 5, 2022
Return Version
2021v4.2
Gross Receipts
$18,750
Mission and Program Overview

Mission

Assist downtown development authority in implementing the arcadia creek plan; purchase, hold and eventually dispose of real estate needed for the arcadia creek project or other projects; undertake other development activities and projects in the downtown area.

Assist downtown development authority in implementing the arcadia creek plan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,250,000$1,250,000→ $0
Cash and Non-Interest-Bearing Accounts$20,325$13,268▼ $7,057
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,457,825$1,469,518▲ $11,693
Other Assets Total$187,500$206,250▲ $18,750
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,581,264$1,581,264→ $0
Other Liabilities$233,376$271,333▲ $37,957
Accounts Payable and Accrued Expenses$755$12,950▲ $12,195
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,815,395$1,865,547▲ $50,152
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-357,570$-396,029▼ $38,459
Total Net Assets Fund Balance$-357,570$-396,029▼ $38,459
Total Liabilities and Net Assets / Fund Balance$1,457,825$1,469,518▲ $11,693

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$206,250--
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleOtherTotal
Andrew HaanExecutive Director$141,317$141,317

Board Members and Trustees

NameTitle
Kenneth V MillerPresident
Jim BarnumVice President
Bob MillerBoard Member
Cindy StewartBoard Member
Jack Hopkinsboard member
Jeff Eckertboard member
Larry Luethboard member
Marilyn SchlackBoard Member
Steve Eastboard member
Caroline HamSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$18,750
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-38,459
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$57,209
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest-$37,957-$37,957
Fees for Services Other$6,862--$6,862
Fees for Services Accounting-$4,005-$4,005
Insurance-$3,583-$3,583
Other Expenses$4,272$530-$530
Total Functional Expenses$11,134$46,075$0$57,209
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Payable$271,333
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
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
Filing and Contact Details

Filer

Filer Name
Downtown Tomorrow Inc
EIN
38-2513286
In Care Of
% DAVID ULLREY
Phone
2693440795
Address
162 East Michigan Avenue, Kalamazoo, MI 49007

Signing Officer

Name
Kenneth V Miller
Title
President
Phone
2693440795
Signed
2022-08-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth V Miller
Formed
1984
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
Bdo USA Llp
Address
200 OTTAWA AVE NW STE 300, GRAND RAPIDS, MI 49503
Preparer
Jacob Cook
Phone
6167747000
Supplemental Narrative

Additional Explanations

Review of Form 990

“Form 990, part vi, section b, line 11b the form 990 is prepared by accountants bdo usa, llp and reviewed by staff of the organization prior to submission to the board of directors for their review.”

Conflict of Interest Policy

“Form 990, part vi, section b, line 12c the conflict of interest policy is monitored at the board level. Any member who might possibly have a conflict of interest exempts themselves from decision making/board actions.”

Governing Documents, Conflict of Interest Policy, and Financial Statements

“Form 990, part vi, section c, line 19 the organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

Other Accounting Method

“Form 990, part xii, line 1 downtown tomorrow, inc. Uses the modified accrual accounting method.”

Form 990 Part IX Line 11G

“Description:project consulting total fees:6862”

Raw XML AppendixShowing 400 of 518 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT
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IRS990/MissionDesc0ASSIST DOWNTOWN DEVELOPMENT AUTHORITY IN IMPLEMENTING THE ARCADIA CREEK PLAN; PURCHASE, HOLD AND EVENTUALLY DISPOSE OF REAL ESTATE NEEDED FOR THE ARCADIA CREEK PROJECT OR OTHER PROJECTS; UNDERTAKE OTHER DEVELOPMENT ACTIVITIES AND PROJECTS IN THE DOWNTOWN AREA.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0DOWNTOWN TOMORROW, INC. SUPPORTS DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF KALAMAZOO, A LOCAL GOVERNMENTAL ENTITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1DOWNTOWN TOMORROW, INC. SUPPORTS DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF KALAMAZOO (EIN: 38-2487766) IN IMPLEMENTING THE ARCADIA CREEK PLAN; PURCHASE, HOLD AND EVENTUALLY DISPOSE OF REAL ESTATE NEEDED FOR THE ARCADIA CREEK PROJECT OR OTHER PROJECTS; UNDERTAKE OTHER DEVELOPMENT ACTIVITIES AND PROJECTS IN THE DOWNTOWN AREA.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2Line 2 - Downtown Tomorrow Inc. and the Downtown Development Authority of the City of Kalamazoo both utilize Downtown Kalamazoo Inc. staff and leadership structure to carry out their missions. The board of the Downtown Kalamazoo Inc. includes representatives from both DTI and the DDA. The President of Downtown Kalamazoo Inc. also serves as a board member of Downtown Tomorrow Inc. These shared leadership members and consistent inter-entity communication ensure that a close and continuous working relationship amongst DTI and the DDA are maintained. Line 3 - Downtown Tomorrow Inc. and the Downtown Development Authority of the City of Kalamazoo both utilize Downtown Kalamazoo Inc. staff and leadership structure to carry out their missions. The board of the Downtown Kalamazoo Inc. includes representatives from both the DTI and the DDA. The President of Downtown Kalamazoo Inc. also serves as a board member of Downtown Tomorrow Inc. The annual Budgeting and planning process is inclusive of all related entities and each party has a significant voice in how each entity's funds will be used each year.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART IV, SECTION A, LINE 2
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1SCHEDULE A, PART IV, SECTION E, LINE 1C
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2SCHEDULE A, PART IV, SECTION D, LINE 2 & 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY ACCOUNTANTS BDO USA, LLP AND REVIEWED BY STAFF OF THE ORGANIZATION PRIOR TO SUBMISSION TO THE BOARD OF DIRECTORS FOR THEIR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS MONITORED AT THE BOARD LEVEL. ANY MEMBER WHO MIGHT POSSIBLY HAVE A CONFLICT OF INTEREST EXEMPTS THEMSELVES FROM DECISION MAKING/BOARD ACTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990, PART XII, LINE 1 DOWNTOWN TOMORROW, INC. USES THE MODIFIED ACCRUAL ACCOUNTING METHOD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DESCRIPTION:PROJECT CONSULTING TOTAL FEES:6862
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0REVIEW OF FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1CONFLICT OF INTEREST POLICY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3OTHER ACCOUNTING METHOD
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PART IX LINE 11G
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0DOWNTOWN KALAMAZOO INC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,469,518
Liabilities
$1,865,547
Net assets
-$396,029
Revenue
$18,750
Expenses
$57,209
Net income
-$38,459
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.48$1.88$0.40$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$1.48$1.88$0.40$0.00$0.00$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.48$1.88$0.40$0.02$0.02$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.47$1.87$0.40$0.02$0.06$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.46$1.82$0.36$0.08$0.10$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.46$1.79$0.33$0.07$0.09$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.46$1.77$0.31$0.07$0.13$0.06
2017Detailed filing. Detailed filing data is available for this year.$1.51$1.76$0.25$0.96$0.29$0.67
2016Detailed filing. Detailed filing data is available for this year.$4.20$5.12$0.91$0.23$0.17$0.06
2015Detailed filing. Detailed filing data is available for this year.$4.29$5.26$0.98$0.21$0.28$0.07
2014Summary only. Only limited summary data is available for this year.$4.56$5.46$0.91$0.16$0.27$0.43
2013Summary only. Only limited summary data is available for this year.$5.60$6.08$0.48$0.07$0.75$0.81
2012Summary only. Only limited summary data is available for this year.$8.85$8.52$0.33$0.60$0.42$0.19
2011Summary only. Only limited summary data is available for this year.$9.58$9.43$0.15$0.57$0.44$0.14