Downcity Partnership Inc
- Assets
- $5.0m
- Revenue
- $274.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 06/2001
- Data as of
- 12/2021
- EIN
- 05-0514476
Organization Overview
Downcity Partnership Inc is located in Providence, RI. The organization was established in 2001. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downcity Partnership Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Downcity Partnership Inc generated $274.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $803.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AWARDING GRANTS AND LOANS THAT FOCUS ON STRENGTHENING AND REVITALIZING DOWNTOWN PROVIDENCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL PROGRAMS RELATE TO THE REVITALIZATION OF DOWNTOWN PROVIDENCE BY PROVIDING LEADERSHIP, COORDINATION, RESOURCES, TECHNICAL ASSISTANCE AND SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
G Alan Kurose MD MBA Facp Chairperson | OfficerTrustee | 0.3 | $0 |
Janet Robinson Secretary | OfficerTrustee | 0.3 | $0 |
Neil Steinberg President | Officer | 0.8 | $0 |
Jennifer Reid Treasurer | Officer | 0.8 | $0 |
Michael Allio Director | Trustee | 0.3 | $0 |
Carrie Bridges Feliz MPH Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $273,450 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $274,748 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $720,874 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $82,201 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $803,095 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $115,338 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,934,344 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,049,682 |
| Accounts payable and accrued expenses | $32,602 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $32,602 |
| Net assets without donor restrictions | $5,017,080 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,049,682 |
Grants Awarded
Over the last fiscal year, Downcity Partnership Inc has awarded $330,226 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Providence, RI PURPOSE: GENERAL SUPPORT | $302,749 |
Providence, RI PURPOSE: DOWNCITY PARTNERSHIP FUND | $27,477 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dimock Community Foundation Inc Roxbury, MA | $0 | $29,896,865 |
Dentaquest Care Group Inc Boston, MA | $2,518,678 | $0 |
Knights Of Columbus Charities Usa Inc New Haven, CT | $92,663,013 | $7,484,954 |
Cfleads Accord, MA | $11,022,103 | $9,422,261 |
The American University Of Greece Foundation Boston, MA | $302,640,728 | $21,990,512 |
Kipp Lynn Fund Inc Lynn, MA | $79,635,466 | $3,076,776 |
Mghpcc Holyoke Inc Holyoke, MA | $56,507,335 | $145,504 |
Mussafer Fam Foundation Boston, MA | $59,912,129 | $40,514,877 |
Downcity Partnership Inc Providence, RI | $5,049,682 | $274,748 |
Pioneer Valley Chinese Immersion Charter School Educational Foundat Hadley, MA | $11,207,489 | $729,019 |
Friends Of The Levitt Pavilion Inc Westport, CT | $1,013,121 | $914,784 |
Utec Hub Inc Lowell, MA | $5,570,123 | $398,705 |