Civic Intelligence

Downtown Partners Inc

990 • Fiscal year 2022 • EIN 42-1449669

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 13, 2023

Organization ProfileWWW.GREATERBURLINGTON.COM
610 North 4th Suite 200Burlington, IA 52601

(319) 752-6365

Siviq Scores

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

Liabilities / Assets

89th percentile

0.40x

Higher debt load relative to assets than 89% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

94th percentile

0.62x

Higher debt load relative to revenue than 94% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Net Margin

73rd percentile

15%

Higher net margin than 73% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Top Officer Pay

99th percentile

$174,940

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 69.8% of source-year revenue.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Asset Growth

53rd percentile

1.7%

Faster asset growth than 53% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

8th percentile

-36%

Faster revenue growth than 8% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$391,649

Up $6,523 (+1.7%) from 2021

Net Assets

Up

$235,745

Up $12,396 (+5.6%) from 2021

Liabilities

Down

$155,904

Down $5,873 (-3.6%) from 2021

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin73rd percentile

Revenue

Down

$250,480

Down $140,327 (-36%) from 2021

Expenses

Down

$213,084

Down $79,023 (-27%) from 2021

Net Income

Down

$37,396

Down $61,304 (-62%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

$400K$300K$200K$100K$0Assets 2011: $225,192Liabilities 2011: $70,157Net Assets 2011: $155,0352011Assets 2012: $163,589Liabilities 2012: $8,611Net Assets 2012: $154,9782012Assets 2013: $163,684Liabilities 2013: $4,417Net Assets 2013: $159,2672013Assets 2014: $181,166Liabilities 2014: $8,222Net Assets 2014: $172,9442014Assets 2015: $228,742Liabilities 2015: $9,884Net Assets 2015: $218,8582015Assets 2016: $210,514Liabilities 2016: $8,051Net Assets 2016: $202,4632016Assets 2017: $343,499Liabilities 2017: $69,802Net Assets 2017: $273,6972017Assets 2018: $359,177Liabilities 2018: $69,453Net Assets 2018: $289,7242018Assets 2019: $355,880Liabilities 2019: $73,459Net Assets 2019: $282,4212019Assets 2020: $311,708Liabilities 2020: $143,059Net Assets 2020: $168,6492020Assets 2021: $385,126Liabilities 2021: $161,777Net Assets 2021: $223,3492021Assets 2022: $391,649Liabilities 2022: $155,904Net Assets 2022: $235,7452022Assets 2023: $241,415Liabilities 2023: $4,349Net Assets 2023: $237,0662023Assets 2024: $272,626Liabilities 2024: $12,157Net Assets 2024: $260,4692024

Highlighted filing

2022

Assets$391,649
Liabilities$155,904
Net Assets$235,745
Open 2022 Filing

Operations Trend

Revenue Growth8th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2011: $702,7652011Expenses 2012: $681,3522012Revenue 2013: $338,022Expenses 2013: $333,733Net Income 2013: $4,2892013Revenue 2014: $440,103Expenses 2014: $426,426Net Income 2014: $13,6772014Revenue 2015: $242,990Expenses 2015: $242,076Net Income 2015: $9142015Revenue 2016: $212,436Expenses 2016: $228,831Net Income 2016: -$16,3952016Revenue 2017: $308,579Expenses 2017: $237,345Net Income 2017: $71,2342017Revenue 2018: $217,329Expenses 2018: $201,302Net Income 2018: $16,0272018Revenue 2019: $220,831Expenses 2019: $228,126Net Income 2019: -$7,2952019Revenue 2020: $356,153Expenses 2020: $443,035Net Income 2020: -$86,8822020Revenue 2021: $390,807Expenses 2021: $292,107Net Income 2021: $98,7002021Revenue 2022: $250,480Expenses 2022: $213,084Net Income 2022: $37,3962022Revenue 2023: $214,311Expenses 2023: $212,990Net Income 2023: $1,3212023Revenue 2024: $246,182Expenses 2024: $222,779Net Income 2024: $23,4032024

Highlighted filing

2022

Revenue$250,480
Expenses$213,084
Net Income$37,396
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 13, 2023
Return Version
2022v5.0
Gross Receipts
$250,480
Mission and Program Overview

Mission

To promote the interests of downtown burlington, iowa.

The mission of downtown partners is to preserve and revitalize downtown burlington by enhancing its economy, infrastructure, and historical and cultural features.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$199,232$219,154▲ $19,922
Accounts Receivable$10,539$9,019▼ $1,520
Prepaid Expenses and Deferred Charges$355$7,889▲ $7,534
Land, Buildings, and Equipment, Net-$5,587-
Total Assets$385,126$391,649▲ $6,523
Other Assets Total$175,000$150,000▼ $25,000
Liabilities
Other Liabilities$60,000$148,530▲ $88,530
Unsecured Notes Loans Payable$90,000--
Accounts Payable and Accrued Expenses$11,277$5,432▼ $5,845
Deferred Revenue$500$1,942▲ $1,442
Total Liabilities$161,777$155,904▼ $5,873
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$215,944$228,052▲ $12,108
Net Assets With Donor Restrictions$7,405$7,693▲ $288
Total Net Assets Fund Balance$223,349$235,745▲ $12,396
Total Liabilities and Net Assets / Fund Balance$385,126$391,649▲ $6,523

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,587$31$5,618
Other Assets Org$150,000--
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleBaseOtherTotal
Mary Beth SanchezCFO$3,222$23,627$26,849

Board Members and Trustees

NameTitle
Mercedes PonceChair-elect
Todd DarnallChairperson
Jerry JohnsonPast Chairma
Della D SchmidtPresident
Alex CornickDirector
Angie HedgesDirector
Chad BirdDirector
Chelsea StevensDirector
Dianne SmrdelDirector
Jerilyn HornDirector
Jessica GerlingDirector
Kansha TiwariDirector
Lynda Graham-murrayDirector
Suann WellsDirector
Todd AckermanDirector
Vanessa WatsonDirector
Tom BurchTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$166,457
Program Service Revenue
$75,781
Investment Income
$8,242
Other Revenue
$0
Change in Net Assets
$37,396

Audited Revenue Reconciliation

Revenue per Audited Statements
$250,480
Revenue Not Reported on Form 990
$-25,000
Total Revenue per Audited Statements
$225,480
Total Revenue per Form 990
$250,480
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$117,844
Other Expenses$95,240
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$99,676
Fees for Services Other---$14,808
Occupancy---$14,149
Payroll Taxes---$8,810
Information Technology---$7,349
Other Employee Benefits---$6,136
Conferences and Meetings---$4,692
Office Expenses---$4,303
Interest---$3,728
Current Officers, Directors, Trustees, and Key Employees---$3,222
Advertising---$2,334
Other Expenses---$1,220
Insurance---$473
All Other Expenses---$462
Depreciation Depletion---$31
Total Functional Expenses$0$0$0$213,084

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$213,084
Total Expenses per Audited Statements$213,084
Total Expenses per Form 990$213,084
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loan Payable to Two Rivers Bank$88,530
Note Payable to Ggb$60,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization shares facilities and management functions with the burlington/west burlington area chamber of commerce and grow greater burlington, inc. The organizations maintain separate board of directors.”

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

“The president, chief financial officer, chair and treasurer of the organization have reviewed the 990, including all required schedules prior to submission.”

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

“The board reviews the financial statements and approves large purchases. The president and either the chairperson or treasurer signs the checks.”

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

“In accordance with the organization bylaws, the evaluation committee approves the determination of the president's salary.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available from the chief financial officer upon request”

Filing and Contact Details

Filer

Filer Name
Downtown Partners Inc
EIN
42-1449669
Phone
3197526365
Address
610 NORTH 4TH SUITE 200, BURLINGTON, IA 52601

Signing Officer

Name
Della D Schmidt
Title
President
Phone
3197526365
Signed
2023-10-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Della D Schmidt
Formed
1996
Legal Domicile
Ia
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
75

Preparer

Firm
Menke & Company
Address
406 AVENUE E PO BOX 135, WEST POINT, IA 52656-0135
Preparer
Ann M Menke
Phone
3198376042
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“IMPAIRMENT -25,000”

Financial Statement Notes

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

“IMPAIRMENT -25,000”

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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt110166
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IRS990/PYTotalRevenueAmt0390807
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt031
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05618
IRS990ScheduleD/ExpensesSubtotalAmt0213084
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0150000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0BUILDING HELD FOR SALE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt088530
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt160000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LOAN PAYABLE TO TWO RIVERS BANK
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NOTE PAYABLE TO GGB
IRS990ScheduleD/OtherRevenueAmt0-25000
IRS990ScheduleD/RevenueNotReportedAmt0-25000
IRS990ScheduleD/RevenueSubtotalAmt0250480
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IMPAIRMENT -25,000
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION SHARES FACILITIES AND MANAGEMENT FUNCTIONS WITH THE BURLINGTON/WEST BURLINGTON AREA CHAMBER OF COMMERCE AND GROW GREATER BURLINGTON, INC. THE ORGANIZATIONS MAINTAIN SEPARATE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT, CHIEF FINANCIAL OFFICER, CHAIR AND TREASURER OF THE ORGANIZATION HAVE REVIEWED THE 990, INCLUDING ALL REQUIRED SCHEDULES PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD REVIEWS THE FINANCIAL STATEMENTS AND APPROVES LARGE PURCHASES. THE PRESIDENT AND EITHER THE CHAIRPERSON OR TREASURER SIGNS THE CHECKS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IN ACCORDANCE WITH THE ORGANIZATION BYLAWS, THE EVALUATION COMMITTEE APPROVES THE DETERMINATION OF THE PRESIDENT'S SALARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE FROM THE CHIEF FINANCIAL OFFICER UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5IMPAIRMENT -25,000
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0true
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1BURLINGTONWEST BURLINGTON AREA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2GROW GREATER BURLINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine2Txt0OF COMMERCE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine2Txt1DEVELOPMENT FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0420161630
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1200283432
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2610 N 4TH STREET SUITE 200
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1BURLINGTON
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0true
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt050000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt112285
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt260000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt312000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt428109
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt527245
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0BURLINGTONWEST BURLINGTON AREA
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1BURLINGTONWEST BURLINGTON AREA
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2GROW GREATER BURLINGTON
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3BURLINGTONWEST BURLINGTON CHAMBER
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt4BURLINGTONWEST BURLINGTON CHAMBER
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt5BURLINGTONWEST BURLINGTON CHAMBER

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$391,649
Liabilities
$155,904
Net assets
$235,745
Revenue
$250,480
Expenses
$213,084
Net income
$37,396
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.73$0.12$2.60$2.46$2.23$0.23
2023Detailed filing. Detailed filing data is available for this year.$2.41$0.04$2.37$2.14$2.13$0.01
2022Detailed filing. Detailed filing data is available for this year.$3.92$1.56$2.36$2.50$2.13$0.37
2021Detailed filing. Detailed filing data is available for this year.$3.85$1.62$2.23$3.91$2.92$0.99
2020Detailed filing. Detailed filing data is available for this year.$3.12$1.43$1.69$3.56$4.43$0.87
2019Detailed filing. Detailed filing data is available for this year.$3.56$0.73$2.82$2.21$2.28$0.07
2018Detailed filing. Detailed filing data is available for this year.$3.59$0.69$2.90$2.17$2.01$0.16
2017Detailed filing. Detailed filing data is available for this year.$3.43$0.70$2.74$3.09$2.37$0.71
2016Detailed filing. Detailed filing data is available for this year.$2.11$0.08$2.02$2.12$2.29$0.16
2015Detailed filing. Detailed filing data is available for this year.$2.29$0.10$2.19$2.43$2.42$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.81$0.08$1.73$4.40$4.26$0.14
2013Detailed filing. Detailed filing data is available for this year.$1.64$0.04$1.59$3.38$3.34$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.64$0.09$1.55$6.81
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.25$0.70$1.55$7.03