Civic Intelligence

Downtown Development Inc

990 • Fiscal year 2022 • EIN 71-0553212

Aug 01, 2021 to Jul 31, 2022 • Filed on Apr 24, 2023

Organization ProfileN/A
PO Box 1860Bentonville, AR 71712

(479) 464-1500

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Net Margin

9th percentile

-39%

Higher net margin than 9% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

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.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

100th percentile

2181100%

Faster revenue growth than 100% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$4,390

Down $1,090,676 (-100%) from 2021

Net Assets

Down

$4,390

Down $8,400 (-66%) from 2021

Liabilities

Down

$0

Down $1,082,276 (-100%) from 2021

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin9th percentile

Revenue

Up

$21,812

Up $21,811 (+2181100%) from 2021

Expenses

Down

$30,212

Down $22,610 (-43%) from 2021

Net Income

Up

-$8,400

Up $44,421 (+84%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2022

Assets$4,390
Liabilities$0
Net Assets$4,390
Open 2022 Filing

Operations Trend

Revenue Growth100th 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

2022

Revenue$21,812
Expenses$30,212
Net Income-$8,400
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2021 to Jul 31, 2022
Signed
Apr 24, 2023
Return Version
2021v4.2
Gross Receipts
$1,095,104
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 form 990, part iii, line 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$1,072,714--
Loans From Officers Directors$147,276$0▼ $147,276
Rtn Earn Endowment Incm Other Fnds$12,790$4,390▼ $8,400
Cash and Non-Interest-Bearing Accounts$20,517$3,654▼ $16,863
Savings and Temporary Cash Investments$735$736▲ $1
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$1,095,066$4,390▼ $1,090,676
Other Assets Total$1,100$0▼ $1,100
Liabilities
Mortgage Notes Payable Secured by Investment Property$935,000--
Other Liabilities$0$0→ $0
Total Liabilities$1,082,276$0▼ $1,082,276
Net Assets / Fund Balance
Total Net Assets Fund Balance$12,790$4,390▼ $8,400
Total Liabilities and Net Assets / Fund Balance$1,095,066$4,390▼ $1,090,676
Compensation and Service Providers
Top Officer Pay61st percentile

Board Members and Trustees

NameTitle
-President
-Vice President
-Secretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$21,812
Other Revenue
$0
Change in Net Assets
$-8,400
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$30,212
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$12,250--$12,250
Fees for Services Management$8,659--$8,659
Fees for Services Accounting-$6,312-$6,312
Insurance$1,402--$1,402
Fees for Services Legal-$694-$694
Other Expenses$538--$538
Fees for Services Other$0$357$0$357
Total Functional Expenses$22,849$7,363$0$30,212
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$147,276$0▼ $147,276
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
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
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, Line 4 Significant changes to organizational documents

“CHANGES TO THE ORGANIZATION'S BYLAWS WERE MADE TO THE FOLLOWING ITEMS: 1. The organization has no members. 2. The number of directors may not be less than three and no more than six. 3. Addition of Vice President Officer - If the board chooses to elect a Vice President, the Vice President will perform such duties as the board or the President may assign from time to time. 4. The Bylaws and Articles of Incorporation may be altered or amended in whole or in part by vote of the board.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“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.”

Form 990, Part VI, Line 19 Required documents available to the public

“Downtown development, inc.'s form 990 is available to the public at guidestar.org. Downtown development, inc.'s certificate of incorporation is available to the public via the arkansas secretary of state database.”

Filing and Contact Details

Filer

Filer Name
Downtown Development Inc
EIN
71-0553212
Address
PO BOX 1860, BENTONVILLE, AR 71712

Signing Officer

Name
Johnny Haney
Title
President
Signed
2023-04-24
Discuss with paid preparer
Yes

Organization Details

Formed
1978
Legal Domicile
Ar
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Walton Enterprises LLC
Address
PO BOX 1860, BENTONVILLE, AR 72712
Preparer
Luke C Mitchell
Phone
4794641500
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CHANGES TO THE ORGANIZATION'S BYLAWS WERE MADE TO THE FOLLOWING ITEMS: 1. The organization has no members. 2. The number of directors may not be less than three and no more than six. 3. Addition of Vice President Officer - If the board chooses to elect a Vice President, the Vice President will perform such duties as the board or the President may assign from time to time. 4. The Bylaws and Articles of Incorporation may be altered or amended in whole or in part by vote of the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRIOR 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/ExplanationTxt2DOWNTOWN DEVELOPMENT, INC.'S FORM 990 IS AVAILABLE TO THE PUBLIC AT GUIDESTAR.ORG. DOWNTOWN DEVELOPMENT, INC.'S CERTIFICATE OF INCORPORATION IS AVAILABLE TO THE PUBLIC VIA THE ARKANSAS SECRETARY OF STATE DATABASE.
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IRS990/USAddress/CityNm0BENTONVILLE
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd071712
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHNNY HANEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-04-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Downtown Development Inc
ReturnHeader/Filer/BusinessNameControlTxt0DOWN
ReturnHeader/Filer/EIN0710553212
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1860
ReturnHeader/Filer/USAddress/CityNm0BENTONVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd071712
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621665434
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/PreparerPersonNm0LUKE C MITCHELL
ReturnHeader/ReturnTs02023-04-24T14:30:10+00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOHNNY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HANEY
ReturnHeader/TaxPeriodBeginDt02021-08-01
ReturnHeader/TaxPeriodEndDt02022-07-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$4,390
Liabilities
$0
Net assets
$4,390
Revenue
$21,812
Expenses
$30,212
Net income
-$8,400
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