Civic Intelligence

Downtown Development Inc

990 • Fiscal year 2020 • EIN 71-0553212

Aug 01, 2019 to Jul 31, 2020 • Filed on Mar 31, 2021

Organization ProfileN/A
PO Box 1860Bentonville, AR 72712

(479) 464-1500

Siviq Scores

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

Liabilities / Assets

95th percentile

0.94x

Higher debt load relative to assets than 95% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

100th percentile

183.09x

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

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Net Margin

1st percentile

-1328%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

61st percentile

$0

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Asset Growth

29th percentile

-1.1%

Faster asset growth than 29% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

1st percentile

-87%

Faster revenue growth than 1% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$1,075,538

Down $11,524 (-1.1%) from 2019

Net Assets

Down

$65,611

Down $73,238 (-53%) from 2019

Liabilities

Up

$1,009,927

Up $61,714 (+6.5%) from 2019

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$5,516

Down $35,362 (-87%) from 2019

Expenses

Up

$78,754

Up $260 (+0.3%) from 2019

Net Income

Down

-$73,238

Down $35,622 (-95%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

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

$1.5M$1.0M$500K$0Assets 2014: $1,070,126Liabilities 2014: $938,353Net Assets 2014: $131,7732014Assets 2015: $1,080,925Liabilities 2015: $938,230Net Assets 2015: $142,6952015Assets 2016: $1,076,596Liabilities 2016: $938,540Net Assets 2016: $138,0562016Assets 2017: $1,074,496Liabilities 2017: $937,657Net Assets 2017: $136,8392017Assets 2018: $1,111,465Liabilities 2018: $935,000Net Assets 2018: $176,4652018Assets 2019: $1,087,062Liabilities 2019: $948,213Net Assets 2019: $138,8492019Assets 2020: $1,075,538Liabilities 2020: $1,009,927Net Assets 2020: $65,6112020Assets 2021: $1,095,066Liabilities 2021: $1,082,276Net Assets 2021: $12,7902021Assets 2022: $4,390Liabilities 2022: $0Net Assets 2022: $4,3902022Assets 2023: $3,338Liabilities 2023: $0Net Assets 2023: $3,3382023

Highlighted filing

2020

Assets$1,075,538
Liabilities$1,009,927
Net Assets$65,611
Open 2020 Filing

Operations Trend

Revenue Growth1st percentile

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

$100K$50K$0-$50K-$100KRevenue 2014: $89,222Expenses 2014: $50,484Net Income 2014: $38,7382014Revenue 2015: $61,208Expenses 2015: $50,286Net Income 2015: $10,9222015Revenue 2016: $64,210Expenses 2016: $68,849Net Income 2016: -$4,6392016Revenue 2017: $61,955Expenses 2017: $63,172Net Income 2017: -$1,2172017Revenue 2018: $84,838Expenses 2018: $45,212Net Income 2018: $39,6262018Revenue 2019: $40,878Expenses 2019: $78,494Net Income 2019: -$37,6162019Revenue 2020: $5,516Expenses 2020: $78,754Net Income 2020: -$73,2382020Revenue 2021: $1Expenses 2021: $52,822Net Income 2021: -$52,8212021Revenue 2022: $21,812Expenses 2022: $30,212Net Income 2022: -$8,4002022Revenue 2023: $9,405Expenses 2023: $10,457Net Income 2023: -$1,0522023

Highlighted filing

2020

Revenue$5,516
Expenses$78,754
Net Income-$73,238
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2019 to Jul 31, 2020
Signed
Mar 31, 2021
Return Version
2019v5.2
Gross Receipts
$5,516
Mission and Program Overview

Mission

Downtown development, inc. Was formed to carry on all phases of business relating to the civic, charitable, patriotic, cultural, professional, commercial, and industrial improvement and preservation of the city of bentonville, benton county, arkansas. Downtown development purchases real estate to be sold at a later date to the city of bentonville or other governmental unit for civic or industrial development. As of 7/31/17 downtown development was holding two pieces of real estate. Downtown development purchases property to work on rezoning and/or until the city or other governmental unit appropriates funds for purchase of the property from downtown development.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$1,072,214$1,072,214→ $0
Loans From Officers Directors$13,213$74,927▲ $61,714
Rtn Earn Endowment Incm Other Fnds$138,849$65,611▼ $73,238
Savings and Temporary Cash Investments$8,719$1,734▼ $6,985
Cash and Non-Interest-Bearing Accounts$5,829$1,290▼ $4,539
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$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 in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,087,062$1,075,538▼ $11,524
Other Assets Total$300$300→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$935,000$935,000→ $0
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$948,213$1,009,927▲ $61,714
Net Assets / Fund Balance
Total Net Assets Fund Balance$138,849$65,611▼ $73,238
Total Liabilities and Net Assets / Fund Balance$1,087,062$1,075,538▼ $11,524

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,072,214--
Compensation and Service Providers
Top Officer Pay61st percentile

Board Members and Trustees

NameTitle
Johnny HaneyPresident
Debbie MatteriVice President
Paul DavidsonSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,500
Investment Income
$16
Other Revenue
$0
Change in Net Assets
$-73,238
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$78,754
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$46,714$0$0$46,714
Fees for Services Accounting$0$11,593$0$11,593
Fees for Services Management$10,956$0$0$10,956
Insurance$2,282$0$0$2,282
Fees for Services Legal$0$85$0$85
Other Expenses$73$0$0$73
Total Functional Expenses$67,076$11,678$0$78,754
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$13,213$74,927▲ $61,714
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11B:

“Explanation: prior to filing of the form 990, the return is reviewed by all members of the governing body and ultimately reviewed and signed by an appropriate governing body member.”

Filing and Contact Details

Filer

Filer Name
Downtown Development Inc
EIN
71-0553212
In Care Of
% KENDRA ANDREWS
Address
PO BOX 1860, BENTONVILLE, AR 72712

Signing Officer

Name
Johnny Haney
Title
President
Phone
4794641500
Signed
2021-03-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Johnny Haney
Formed
1978
Legal Domicile
Ar
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Walton Enterprises LLC
Address
PO BOX 1860, BENTONVILLE, AR 72712
Preparer
Kent C Crouch
Phone
4794641500
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IRS990/MissionDesc0DOWNTOWN DEVELOPMENT, INC. WAS FORMED TO CARRY ON ALL PHASES OF BUSINESS RELATING TO THE CIVIC, CHARITABLE, PATRIOTIC, CULTURAL, PROFESSIONAL, COMMERCIAL, AND INDUSTRIAL IMPROVEMENT AND PRESERVATION OF THE CITY OF BENTONVILLE, BENTON COUNTY, ARKANSAS.DOWNTOWN DEVELOPMENT PURCHASES REAL ESTATE TO BE SOLD AT A LATER DATE TO THE CITY OF BENTONVILLE OR OTHER GOVERNMENTAL UNIT FOR CIVIC OR INDUSTRIAL DEVELOPMENT. AS OF 7/31/20, DOWNTOWN DEVELOPMENT WAS HOLDING TWO PIECES OF REAL ESTATE. DOWNTOWN DEVELOPMENT PURCHASES PROPERTY TO WORK ON REZONING AND/OR UNTIL THE CITY OR OTHER GOVERNMENTAL UNIT APPROPRIATES FUNDS FOR PURCHASE OF THE PROPERTY FROM DOWNTOWN DEVELOPMENT.
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt074927
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0JIM C WALTON
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0SUBSTANTIAL CONTRIBUTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPLANATION: PRIOR TO FILING OF THE FORM 990, THE RETURN IS REVIEWED BY ALL MEMBERS OF THE GOVERNING BODY AND ULTIMATELY REVIEWED AND SIGNED BY AN APPROPRIATE GOVERNING BODY MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11b:
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt067076
IRS990/TotalFunctionalExpensesGrp/TotalAmt078754
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0948213
IRS990/TotalLiabilitiesEOYAmt01009927
IRS990/TotalLiabilitiesGrp/BOYAmt0948213
IRS990/TotalLiabilitiesGrp/EOYAmt01009927
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0138849
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt065611
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt067076
IRS990/TotalProgramServiceRevenueAmt05500
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05500
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05516
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IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072712
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHNNY HANEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04794641500
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DOWNTOWN DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0DOWN
ReturnHeader/Filer/EIN0710553212
ReturnHeader/Filer/InCareOfNm0% KENDRA ANDREWS
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ReturnHeader/Filer/USAddress/ZIPCd072712
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WALTON ENTERPRISES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1860
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BENTONVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd072712
ReturnHeader/PreparerPersonGrp/PhoneNum04794641500
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Kent C Crouch
ReturnHeader/ReturnTs02021-06-09T13:16:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-08-01
ReturnHeader/TaxPeriodEndDt02020-07-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,075,538
Liabilities
$1,009,927
Net assets
$65,611
Revenue
$5,516
Expenses
$78,754
Net income
-$73,238
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.01$0.01$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.02$0.03$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.10$1.08$0.01$0.00$0.05$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.08$1.01$0.07$0.01$0.08$0.07
2019Detailed filing. Detailed filing data is available for this year.$1.09$0.95$0.14$0.04$0.08$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.11$0.94$0.18$0.08$0.05$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.07$0.94$0.14$0.06$0.06$0.00
2016Detailed filing. Detailed filing data is available for this year.$1.08$0.94$0.14$0.06$0.07$0.00
2015Summary only. Only limited summary data is available for this year.$1.08$0.94$0.14$0.06$0.05$0.01
2014Summary only. Only limited summary data is available for this year.$1.07$0.94$0.13$0.09$0.05$0.04