Downtown Downers Grove Inc
- Assets
- $374.5k
- Revenue
- $478.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Downers Grove, IL
- Founding
- 09/2000
- Data as of
- 12/2022
- EIN
- 36-4288709
Organization Overview
Downtown Downers Grove Inc is located in Downers Grove, IL. The organization was established in 2000. 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 12/2022, Downtown Downers Grove Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Downers Grove Inc 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 12/2022, Downtown Downers Grove Inc generated $478.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $375.3k during the year ending 12/2022. While expenses have increased by 10.7% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING THE DEVELOPMENT AND EXPANSION OF BUSINESS AND THE INCREASED VALUATION OF PROPERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH VARIOUS PROMOTIONAL EVENTS THE ORGANIZATION WORKS TOWARD CREATING A FAVORABLE RETAIL SHOPPING AND SERVICE BUSINESS ENVIRONMENT TO INCREASE ACTIVITY WITHIN THE SPECIAL SERVICE AREA NUMBER ELEVEN IN DOWNERS GROVE, ILLINOIS. THE MAIN PROMOTIONAL EVENT IS THE FINE ARTS FESTIVAL HELD IN SEPTEMBER OF EACH YEAR.
OTHER PROMOTIONAL EVENTS INCLUDE THE SUMMER NIGHTS LIVE ENTERTAINMENT HELD FRIDAYS WEEKLY FROM MAY THROUGH AUGUST, VARIOUS PARADES, THE DOWNTOWN SIDEWALK SALE, GIRLS' DAY OUT ACTIVITIES, THE WINE WALK, HALLOWEEN ACTIVITIES, VISITS WITH SANTA AND OTHER HOLIDAY ACTIVITIES, THE ICE FESTIVAL AND OTHER EVENTS THROUGHOUT THE YEAR.
PROMOTIONAL PROGRAMS INCLUDE ON-GOING PUBLIC RELATIONS AND ADVERTISING, THE BUSINESS DIRECTORY, THE RESTAURANT GUIDE, DOWNTOWN DOLLARS, GIFT CERTIFICATES, HOLIDAY DECORATIONS, WELCOME FOLDER AND THE WEBSITE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phil Stromberg Chairman | OfficerTrustee | 1 | $0 |
Theresa Schulz Vice Chairman | OfficerTrustee | 0.5 | $0 |
Kathy Burns Treasurer | OfficerTrustee | 0.5 | $0 |
Geoff Anderman Secretary | OfficerTrustee | 0.5 | $0 |
Sam Vlahos Director | Trustee | 0.5 | $0 |
Eric Brezina Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $400,094 |
| 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 | $400,094 |
| Total Program Service Revenue | $77,074 |
| Investment income | $17 |
| 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 | $478,456 |
| 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. | $80,041 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,958 |
| Pension plan accruals and contributions | $2,785 |
| Other employee benefits | $831 |
| Payroll taxes | $10,324 |
| Fees for services: Management | $0 |
| 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 | $3,905 |
| Advertising and promotion | $39,829 |
| Office expenses | $8,278 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,237 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,030 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,010 |
| All other expenses | $17,278 |
| Total functional expenses | $375,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $334,949 |
| Savings and temporary cash investments | $39,594 |
| 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 | $0 |
| 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 | $374,543 |
| Accounts payable and accrued expenses | $350 |
| 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 | $350 |
| Net assets without donor restrictions | $374,193 |
| 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 | $374,543 |