Amherst Business Improvement District Inc
- Assets
- $843.4k
- Revenue
- $740.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Amherst, MA
- Founding
- 07/2014
- Data as of
- 06/2022
- EIN
- 45-5243811
Organization Overview
Amherst Business Improvement District Inc is located in Amherst, MA. The organization was established in 2014. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Amherst Business Improvement District 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 06/2022, Amherst Business Improvement District Inc generated $740.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $585.9k during the year ending 06/2022. While expenses have increased by 8.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE SERVE AS THE VOICE AND ADVOCATE FOR THE DISTRICT AND PROMOTE AMHERST DOWNTOWN AS A HIGHLY DESIRABLE PLACE TO WORK, LIVE,EXPERIENCE AND EXPLORE. BEAUTIFICATION AND SEASONAL DECORATION OF THE TOWN, SPECIAL PROJECTS, MARKETING AND EVENTS, ANDOUTREACH AND LIAISON WORK WITH THE TOWN AND BUSINESSES AS WELL AS ACADEMIC INSTITUTIONS AND CULTURAL PARTNERS ARE ALLIMPORTANT ASPECTS OF THE OVERALL FOCUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BID HAS RECEIVED SEVERAL STATE AND CITY GRANTS TO ACCOMPLISH A WIDE RANGE OF SPECIAL PROJECTS THIS YEAR TO GROW THE TOWN OF AMHERST BUSINESS SECTOR, BEAUTIFY OUR DOWNTOWN AND ENHANCE CUSTOMER EXPERIENCE THROUGHOUT. APPROX $87,000 WAS GRANTED TO THE BID TO BUILD SEMI PERMANENT OUTDOOR PARKLETS FOR LOCAL RESTAURANTS FOR OUTDOOR DINING. APPROX $200,000 WAS GRANTED AND AWARDED TO THE DOWNTOWN AMHERST FOUNDATION TO BUILD THE DRAKE: LIVE PERFORMANCE AND MUSIC VENUE. WHILE REVENUE FOR THESE PROJECTS IS NOT QUANTIFIABLE THE ECONOMIC BENEFITS TO THE TOWN, THE SMALL BUSINESSES AND THE COMMUNITY ARE CLEAR TO AND FOR ALL.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Roberts President | OfficerTrustee | 2 | $0 |
Sharon Povinelli Treasurer | OfficerTrustee | 1 | $0 |
Jerry Jolly Vice President | OfficerTrustee | 0.25 | $0 |
Tony Maroulis Secretary | OfficerTrustee | 1 | $0 |
Jeremy Austin Director | Trustee | 0.25 | $0 |
Sarah Barr Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $430,750 |
| 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 | $430,750 |
| Total Program Service Revenue | $304,952 |
| Investment income | $0 |
| 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 | $740,809 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $170,089 |
| 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 | $190,835 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,485 |
| Payroll taxes | $17,249 |
| 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 | $10,099 |
| Advertising and promotion | $18,974 |
| Office expenses | $9,016 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,576 |
| 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 | $3,697 |
| Insurance | $5,186 |
| All other expenses | $0 |
| Total functional expenses | $585,870 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,332 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $315,000 |
| Accounts receivable, net | $186,551 |
| 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 | $67,500 |
| Net Land, buildings, and equipment | $17,984 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $843,367 |
| Accounts payable and accrued expenses | $27,339 |
| 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 | $27,339 |
| Net assets without donor restrictions | $466,028 |
| Net assets with donor restrictions | $350,000 |
| 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 | $843,367 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Amherst Business Improvement District Inc has recieved totaling $37,825.
| Awarding Organization | Amount |
|---|---|
Economic Development Council Of Western Massachusetts Inc Springfield, MA PURPOSE: TO PROVIDE ECONOMIC SUPPORT. | $37,825 |
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|---|---|---|
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Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
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International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
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Key Human Services Inc Wethersfield, CT | $14,644,434 | $25,649,507 |
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