Hudson Downtown Business Improvement District Inc
- Assets
- $185.4k
- Revenue
- $178.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Hudson, MA
- Founding
- 10/2018
- Data as of
- 12/2022
- EIN
- 82-3849965
Organization Overview
Hudson Downtown Business Improvement District Inc is located in Hudson, MA. The organization was established in 2018. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hudson Downtown Business Improvement District 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 12/2022, Hudson Downtown Business Improvement District Inc generated $178.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $156.1k during the year ending 12/2022. While expenses have increased by 11.7% per year over the past 5 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
TO INITIATE, MANAGE AND FINANCE SUPPLEMENTAL SERVICES IN THE DOWNTOWN DISTRICT OF THE TOWN OF HUDSON, MASSACHUSETTS FOR THE BENEFIT OF EVERYONE WHO LIVES, WORKS OR VISITS THE DOWNTOWN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CULTURAL PLACEMAKING BEGAN IN THE DOWNTOWN DISTRICT WITH THE ADDITION OF PHYSICAL IMPROVEMENTS AND SEASONAL ARTS AND CULTURE EVENTS, AND OVERALL MARKETING TO CREATE A SUSTAINABLE, VIBRANT, WELCOMING AND ECONOMICALLY HEALTHY DESTINATION FOR RESIDENTS, BUSINESS OWNERS AND VISITORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arthur P Redding President | OfficerTrustee | 8 | $0 |
Charles H Randall Treasurer | OfficerTrustee | 8 | $0 |
Mae Zagami Clerk | OfficerTrustee | 8 | $0 |
Karim El Gamal Vice President | OfficerTrustee | 8 | $0 |
Michael D Murphy Director | Trustee | 1 | $0 |
Bartholomew H Murphy Director | Trustee | 1 | $0 |
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 | $6,960 |
| Noncash contributions included in lines 1a–1f | $6,960 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,960 |
| Total Program Service Revenue | $171,020 |
| Investment income | $72 |
| 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 | $178,052 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,000 |
| Grants and other assistance to domestic individuals. | $8,002 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $70,373 |
| 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 | $36,039 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,955 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,805 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $500 |
| Advertising and promotion | $0 |
| Office expenses | $3,433 |
| Information technology | $300 |
| Royalties | $0 |
| Occupancy | $9,534 |
| 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 | $0 |
| Insurance | $2,653 |
| All other expenses | $1,459 |
| Total functional expenses | $156,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $128,296 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,411 |
| 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 | $23,730 |
| 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 | $185,437 |
| Accounts payable and accrued expenses | $9,624 |
| 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 | $9,624 |
| Net assets without donor restrictions | $0 |
| 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 | $175,813 |
| Total liabilities and net assets/fund balances | $185,437 |
Grants Awarded
Over the last fiscal year, Hudson Downtown Business Improvement District Inc has awarded $11,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HUDSON CULTURAL ALLIANCE INC PURPOSE: TO ASSIST THE ORGANIZATION IN THE PURCHASE OF THE HISTORIC ARMORY BUILDING IN TOWN IN ORDER TO PROMOTE AND IMPROVE THE CULTURAL ENVIRONMENT IN HUDSON AND ATTRACT OTHER BUSINESSES AND PEOPLE TO THE AREA. | $10,000 |
TOWN OF HUDSON DEPARTMENT OF PUBLIC WORKS PURPOSE: TO ASSIST THE ORGANIZATION WITH MAINTENANCE SUPPLIES WHILE PERFORMING SERVICES WITHIN THE BUSINESS DISTRICT. | $1,000 |