Capitol Riverfront Business Improvement District
- Assets
- $3.6m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 32
- Location
- Washington, DC
- Founding
- 02/2009
- Data as of
- 09/2023
- EIN
- 20-5712546
Organization Overview
Capitol Riverfront Business Improvement District is located in Washington, DC. The organization was established in 2009. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Capitol Riverfront Business Improvement District employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Capitol Riverfront Business Improvement District is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2023, Capitol Riverfront Business Improvement District generated $4.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $4.6m during the year ending 09/2023. While expenses have increased by 4.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE ECONOMIC STRENGTH AND VITALITY OF THE CAPITOL RIVERFRONT NEIGHBORHOOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLEAN TEAM SERVICES: THE UNIFORMED STREET CLEAING TEAM REMOVES TRASH, WEEDS, GRAFFITI, SEDIMENT AND OTHER DEBRIS FROM THE STREETS AND SIDEWALKS ON A DAILY BASIS. THE ORGANIZATION HOSTS PUBLIC SAFETY MEETINGS WITH PROPERTY OWNERS TO ADDRESS THE LOCAL SAFETY CONCERNS. THE BID PROVIDES MAINTENANCE, PROGRAMMING AND SECURITY SERVICES FOR TWO PARKS IN THE CAPITOL RIVERFRONT.
MARKETING, BRANDING, AND PUBLIC RELATIONS: THE BID MARKETS AND PROMOTES THE CAPITOL RIVERFRONT NEIGHBORHOOD AS A UNIQUE DESTINATION CHARACTERIZED BY A MIX OF USES, HIGH QUALITY ASSETS, AND A HIGH QUALITY PUBLIC REALM - A NEW BUSINESS CENTER, URBAN NEIGHBORHOOD, RETAIL AND ENTERTAINMENT CENTER, AND REGIONAL WATERFRONT DESTINATION WITH ACCESS TO PARKS AND THE RIVER - WHICH WORK TOGETHER TO CREATE A SPECIAL PLACE. IN ADDITION, THE BID DEVELOPS MATERIALS INCLUDING BROCHURES, MAPS, WEBSITE, VIDEO AND OTHERS, THAT HELP PROMOTE THE AREA AND PROVIDES AN INFORMATION CLEARINGHOUSE ON ALL CURRENT AND FUTURE CAPITOL RIVERFRONT AREA ACTIVITIES, DEVELOPMENT PROJECTS, AND TRENDS IN THE MARKETPLACE.
YARDS PARK: THE ORGANIZATION MANAGES, PROGRAMS AND MAINTAINS YARDS PARK, A 5.4-ACRE AWARD WINNING PARK ON THE BANKS OF THE ANACOSTIA RIVER. YARDS PARK IS A PREMIER WATERFRONT DESTINATION, PROVIDING GREEN SPACE AND WATER FEATURES FOR ALL TO ENJOY. YARDS PARK IS AN IDEAL PLACE FOR RECREATION AND SPECIAL EVENTS FOR THE CAPITOL RIVERFRONT COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Fennell Chairman | OfficerTrustee | 1 | $0 |
John Beinart Voting Board Member | Trustee | 1 | $0 |
Adam Gooch Treasurer | OfficerTrustee | 1 | $0 |
Larry Clark Secretary | OfficerTrustee | 1 | $0 |
Paige Grzelak Voting Board Member | Trustee | 1 | $0 |
Daryl Jackson Voting Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prosourcing Partners Llc Dba Cordia Par Accounting & Consulting | 9/29/23 | $179,056 |
Wc Smith Property Management | 9/29/23 | $101,918 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,545,173 |
| All other contributions, gifts, grants, and similar amounts not included above | $44,547 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,589,720 |
| Total Program Service Revenue | $3,082,938 |
| Investment income | $6,442 |
| 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 | $4,679,100 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,340,064 |
| 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 | $323,029 |
| Payroll taxes | $82,006 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $95,129 |
| Fees for services: Accounting | $78,366 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $794,796 |
| Advertising and promotion | $115,861 |
| Office expenses | $120,297 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $104,766 |
| Travel | $26,266 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,512 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $118,543 |
| Insurance | $108,992 |
| All other expenses | $30,538 |
| Total functional expenses | $4,556,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,962,187 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $400,333 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,583 |
| Net Land, buildings, and equipment | $754,211 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,927 |
| Other assets | $490,234 |
| Total assets | $3,644,475 |
| Accounts payable and accrued expenses | $265,673 |
| Grants payable | $0 |
| Deferred revenue | $1,393,738 |
| 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 | $939,214 |
| Total liabilities | $2,598,625 |
| Net assets without donor restrictions | $1,045,850 |
| 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 | $3,644,475 |