Historic Third Ward Association Inc
- Assets
- $543.1k
- Revenue
- $720.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Milwaukee, WI
- Founding
- 04/1986
- Data as of
- 12/2023
- EIN
- 39-1460281
Organization Overview
Historic Third Ward Association Inc is located in Milwaukee, WI. The organization was established in 1986. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Historic Third Ward Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Third Ward Association 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 12/2023, Historic Third Ward Association Inc generated $720.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (11.6%) each year. All expenses for the organization totaled $736.5k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NON-PROFIT NEIGHBORHOOD ASSOCIATION
Describe the Organization's Program Activity:
MARKETING OF THE NEIGHBORHOOD THROUGH THREE MAGAZINE, ADVERTISEMENTS, WEBSITE, MAILING, SOCIAL MEDIA AND THE GUIDE
EVENTS TO PROMOTE THE AREA INCLUDING, CHRISTMAS IN THE WARD, QUARTLEY GALLERY NIGHT & DAY, SHOP THE WARD, COFFEE BREAK, GATHER AND THE ART FESTIVAL
MEMBERSHIP SERVICES INCLUDING INFORMATION, ANNUAL GATHERINGS, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Plaisted Executive Dir. | Officer | 40 | $111,388 |
Joseph Goode President | OfficerTrustee | 1 | $0 |
Nathan Bernstein Vice President | OfficerTrustee | 1 | $0 |
Leann Mester Secretary | OfficerTrustee | 1 | $0 |
Mal Montoya Treasurer | OfficerTrustee | 1 | $0 |
Jack Lemmon At-Large | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $431,936 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,223 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $445,159 |
| Total Program Service Revenue | $272,000 |
| Investment income | $3,729 |
| 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 | $720,888 |
| 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. | $128,340 |
| Compensation of current officers, directors, key employees. | $42,522 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $169,524 |
| Pension plan accruals and contributions | $3,903 |
| Other employee benefits | $17,542 |
| Payroll taxes | $21,848 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,745 |
| Advertising and promotion | $79,277 |
| Office expenses | $46,900 |
| Information technology | $16,521 |
| Royalties | $0 |
| Occupancy | $6,633 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,063 |
| Interest | $20,199 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $55,746 |
| Insurance | $5,899 |
| All other expenses | $30,078 |
| Total functional expenses | $736,511 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $102,313 |
| Savings and temporary cash investments | $184,534 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,668 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,110 |
| Prepaid expenses and deferred charges | $10,134 |
| Net Land, buildings, and equipment | $20,335 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $28,000 |
| Other assets | $181,002 |
| Total assets | $543,096 |
| Accounts payable and accrued expenses | $54,697 |
| Grants payable | $0 |
| Deferred revenue | $25,492 |
| 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 | $195,564 |
| Total liabilities | $275,753 |
| Net assets without donor restrictions | $252,261 |
| Net assets with donor restrictions | $15,082 |
| 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 | $543,096 |
Grants Awarded
Over the last fiscal year, Historic Third Ward Association Inc has awarded $11,350 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ATHLETES FOR AUTISM PURPOSE: GRANT | $5,850 |
MILWAUKEE HOMELESS VETERANS PURPOSE: GRANT | $5,500 |