Downtown Fort Worth Initiatives Inc
- Assets
- $8.7m
- Revenue
- $7.9m
- Investments
- $3.4m
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- 06/1989
- Data as of
- 09/2023
- EIN
- 75-2277821
Organization Overview
Downtown Fort Worth Initiatives Inc is located in Fort Worth, TX. The organization was established in 1989. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Fort Worth Initiatives 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 09/2023, Downtown Fort Worth Initiatives Inc generated $7.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $3.0m during the year ending 09/2023. 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
DOWNTOWN FORT WORTH INITIATIVES, INC. RECEIVES FUNDS TO BE USED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, SCIENTIFIC, LITERARY OR EDUCATIONAL PURPOSES THAT HELP TO FOSTER, PROMOTE, MAINTAIN, AND ENCOURAGE THE CIVIC, SOCIAL, AND GENERAL WELFARE FOR THE CITY OF FORT WORTH.
Describe the Organization's Program Activity:
FESTIVALS AND EVENTS IN THE DOWNTOWN FORT WORTH AREA TO SHOWCASE AND PROMOTE THE DOWNTOWN FORT WORTH COMMUNITY.
THE ORGANIZATION IS PROVIDING ADMINISTRATIVE SERVICES FOR LANDSCAPING, UPKEEP AND MAINTENANCE FOR SEVERAL DOWNTOWN PARKS, BY CONTRACT WITH THE BURNETT FOUNDATION AND/OR THE CITY OF FORT WORTH.
PARTICIPATES IN HOUSING PROJECTS ESTABLISHED TO PROVIDE LOW-MODERATE INCOME HOUSING IN DOWNTOWN FORT WORTH AND OTHER CHARITABLE PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rusty Anderson Director | Trustee | 1 | $0 |
Richard Andreski Director | Trustee | 1 | $0 |
Larry Anfin Director | Trustee | 1 | $0 |
Larry Auth Director | Trustee | 1 | $0 |
John Avila Director | Trustee | 1 | $0 |
Lori Baldock Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Site Planning Site Development Landscaping | 9/29/23 | $277,778 |
Downie Productions Event Producer | 9/29/23 | $222,675 |
Moore Iacofano Goltsman Inc Landscape Architect | 9/29/23 | $191,514 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,028,436 |
| Noncash contributions included in lines 1a–1f | $30,550 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,028,436 |
| Total Program Service Revenue | $6,636,474 |
| Investment income | $214,322 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,655 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,886,887 |
| 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. | $0 |
| 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 | $0 |
| Payroll taxes | $0 |
| 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 | $11,685 |
| Fees for services: Other | $238,196 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $3,246 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,994,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $995,643 |
| Savings and temporary cash investments | $208,306 |
| Pledges and grants receivable | $507,500 |
| Accounts receivable, net | $88,420 |
| 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 | $66,547 |
| Net Land, buildings, and equipment | $287,032 |
| Investments—publicly traded securities | $2,986,850 |
| Investments—other securities | $3,426,519 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $148,906 |
| Total assets | $8,715,723 |
| Accounts payable and accrued expenses | $64,185 |
| Grants payable | $0 |
| Deferred revenue | $59,848 |
| 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 | $165,642 |
| Total liabilities | $289,675 |
| Net assets without donor restrictions | $2,052,091 |
| Net assets with donor restrictions | $6,373,957 |
| 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 | $8,715,723 |