SALEM MAIN STREET INITIATIVE DOWNTOWN PROGRAM (EIN 043568130) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2013

Legal Domicile

Principal Officer

ERIC SMALL

Phone

9787440004

Tax Period

2023-07-01 to 2024-06-30

SALEM MAIN STREET INITIATIVE DOWNTOWN PROGRAM, founded in 2013, is a small nonprofit in the Arts, Culture & Humanities sector that reported $221K in total revenue in fiscal year 2023. Revenue fell 25% from the prior year — a significant decline worth monitoring.

Mission

THE CONTINUED REVITALIZATION OF DOWNTOWN SALEM AS A VIBRANT, YEAR-ROUND, RETAIL, DINING AND CULTURAL DESTINATION THROUGH BUSINESS RETENTION, RECRUITMENT, AND THE PROMOTION OF DOWNTOWN DISTRICT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $77,095

Program Service Revenue $122,726

Investment Income $0

Other Revenue $20,769

TOTAL REVENUE $220,590

Expense Breakdown

Grants Paid $0

Salaries & Benefits $105,971

Fundraising Expenses $0

Program Expenses $98,848

Other Expenses $109,589

TOTAL EXPENSES $215,560

Year-over-Year Comparison

	2023	2022	Change
Revenue	$220,590	$292,783	-0.2%
Expenses	$215,560	$263,301	-0.2%
Net Income	$5,030	$29,482	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

300

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BETH DEBSKI	EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
RINUS OOSTHOEK	EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
MATTHEW CARUSO	DIRECTOR	1.00	Director	$0	$0	$0
LAUREN MAKOFSKY	DIRECTOR	1.00	Director	$0	$0	$0
CAROL MCLAUGHLIN	DIRECTOR	1.00	Director	$0	$0	$0
LINDA MULLEN	DIRECTOR	1.00	Director	$0	$0	$0
BILL PETERSON	DIRECTOR	1.00	Director	$0	$0	$0
MIRA RIGGIN	TREASURER	3.00	Officer Director	$0	$0	$0
ERIC SMALL	PRESIDENT	3.00	Officer Director	$0	$0	$0
JENNI STUART	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
DIANE WOLF	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN ANDREWS	EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0
KATHRYN NEWHALL- SMITH	EXECUTIVE COMMITTEE	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$220,590	$215,560	$41,778	$5,030
2023	$292,783	$263,301	$38,964	$29,482
2022	$239,926	$223,965	$22,581	$15,961
2021	$174,110	$174,306	$57,322	$-196
2020	$107,662	$119,218	$24,624	$-11,556
2019	$139,171	$132,027	$18,960	$7,144

SALEM MAIN STREET INITIATIVE DOWNTOWN PROGRAM