Main Street Square Incorporated

Organization Overview

Main Street Square Incorporated is located in Rapid City, SD. The organization was established in 2012. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Main Street Square Incorporated employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Main Street Square Incorporated 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, Main Street Square Incorporated generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 1.6% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE ORGANIZATION OPERATES A TOWN SQUARE (WHICH IS OWNED BY THE CITY OF RAPID CITY) IN THE HEART OF DOWNTOWN RAPID CITY IN ORDER TO PROVIDE AN ACTIVE GATHERING PLACE FOR THE ENTIRE COMMUNITY, TO INVITE MORE PEDESTRIAN TRAFFIC DOWNTOWN, AND TO STRENGTHEN THE CENTER OF THE COMMUNITY. THIS INCLUDES SUPPORTING, ENCOURAGING, ADVOCATING, AND PRESERVING THE VITALITY AND AESTHETIC BEAUTY OF THE DOWNTOWN RAPID CITY BUSINESS COMMUNITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION OVERSEES MANAGEMENT OF MAIN STREET SQUARE THROUGH AN OPERATING AGREEMENT WITH THE CITY OF RAPID CITY. DURING 2021, MAIN STREET SQUARE HELD OVER 40 EVENTS AND DREW BETWEEN 100,000 - 200,000 PEOPLE TO THE SQUARE AND DOWNTOWN RAPID CITY. AN INTERACTIVE WATER FOUNTAIN OPERATES IN THE SUMMER MONTHS, AND AN ICE SKATING RINK OPERATES IN THE WINTER MONTHS. A VISITOR INFORMATION CENTER IS OPEN DURING ALL EVENTS TO PROVIDE INFORMATION ON THE LOCAL COMMUNITY. EVENTS HELD DURING 2021 INCLUDED HOLIDAY CELEBRATIONS, MOONLIT MOVIES, THURSDAY NIGHT CONCERT SERIES, AND MUCH MORE. MAIN STREET SQUARE ALSO EDUCATES OTHER CITIES ON ECONOMIC DEVELOPMENT AND,IN TURN, UTILIZES THESE OPPORTUNITIES TO MAKE IMPROVEMENTS IN ITS EVENTS. THE ORGANIZATION LEADS EFFORTS TO REDEVELOP AND REVITALIZE DOWNTOWN RAPID CITY THROUGH IMPROVING STREETSCAPES AND FACADES, ENHANCING THE BUSINESS MIX DOWNTOWN, AND PROVIDING CLEAN AND SAFE PROGRAMS. THE ORGANIZATION ALSO MAINTAINS A WEBSITE AND DISTRIBUTES LITERATURE PROMOTING DOWNTOWN BUSINESSES AND EVENTS. THE ORGANIZATION PROMOTES THE ARTS IN DOWNTOWN RAPID CITY. AS PART OF THIS PROMOTION, A SCULPTURE PROJECT WAS COMPLETED THAT WILL POSITION RAPID CITY AS AN ARTS DESTINATION. THE PROJECT WAS THE LARGEST PRIVATELY FUNDED PUBLIC ART COMMISSION UNDERWAY IN THE UNITED STATES AND WAS COMPLETED IN 2017. THE SCULPTOR WORKED IN THE PUBLIC VIEW AND FOCUSED ON COMMUNITY INPUT AND INVOLVEMENT.


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Board, Officers & Key Employees

Name (title)Compensation
Domico Rodriguez
President/ce
$74,261
Dan Senftner
Executive Di
$59,431
Mutch Usera
Chair
$0
Ray Hespen
Vice Chair
$0
Billi Derudder
Secretary
$0
Stacey Hazelton
Treasurer
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Masayuki Nagase
Sculptor
$270,000
Rangel Construction Company Llc
Construction
$133,896
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $177,940
All other contributions, gifts, grants, and similar amounts not included above$677,483
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$855,423
Total Program Service Revenue$489,322
Investment income $2,424
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $11,663
Net Gain/Loss on Asset Sales $1,848
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,364,415

Grants Awarded

Over the last fiscal year, Main Street Square Incorporated has awarded $25,000 in support to 2 organizations.

Grant RecipientAmount

RURAL COMMUNITY ASSIST-NATIVE POPCORPORATION

Org PageRecipient Profile

West Sacramento, CA

|

$15,000

CITY OF RAPID CITYPARKS DEPARTMENT

|

|

$10,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Main Street Square Incorporated has recieved totaling $5,500.

Awarding OrganizationAmount
Black Hills Area Community Foundation

Rapid City, SD

PURPOSE: COMMUNITY WELFARE

$5,500
View Grant Recipient Profile

Endowment Analysis

Earnings$3,506
Net Contributions$180,000
Ending Balance$183,506

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