DISTRICT MANAGEMENT ASSOC DOWNTOWN… - Form 990 Financial Data

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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

2010

Legal Domicile

Principal Officer

MATT CALLAHAN

Phone

5182797997

Tax Period

2023-01-01 to 2023-12-31

DISTRICT MANAGEMENT ASSOC DOWNTOWN TROY BUSINESS IMPROVEMENT DIST INC, founded in 2010, is a small nonprofit that reported $234K in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Expenses of $372K exceeded revenue, resulting in a 59% operating deficit.

Mission

OUR MISSION IS TO CULTIVATE THE ECONOMIC GROWTH AND DEVELOPMENT OF THE DOWNTOWN TROY COMMUNITY BY CREATING AN INCREASINGLY INVITING, DYNAMIC AND SUSTAINABLE ENVIRONMENT THAT CELEBRATES THE CITY'S HISTORY WHILE BUILDING TOWARDS ITS FUTURE.

Program Service Accomplishments

Program 1

Expenses: $307,881 Revenue: $173,193

THE BID HOSTS A VARIETY OF EVENTS THROUGOUT THE YEAR THAT BRING THOUSANDS OF PEOPLE TO DOWNTOWN TROY. FROM THE ROCKIN' ON THE RIVER SUMMER CONCERT SERIES TO THE MONTHLY TROY NIGHT OUT ART AND CULTURE EVENT. THE BID ORGANIZES AND EXECUTES EXCITING QUALITY EVENTS THAT DRAW PEOPLE TO TROY'S DOWNTOWN WITH THE PROSPECT THAT THE CROWDS WILL STAY OR RETURN TO PATRONIZE LOCAL BUSINESSES. THE BID HAS ALSO ESTABLISHED SEVERAL PROGRAMS ALL AIMED AT MARKETING DOWNTOWN TROY INCLUDING A DOWNTOWN TROY MAP WITH A LISTING OF ALL MEMBER BUSINESSES AND THE STUDENT INCENTIVE PROGRAM WHICH TARGETS THE LARGE STUDENT POPULATION.

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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 $57,241

Program Service Revenue $173,193

Investment Income $137

Other Revenue $3,025

TOTAL REVENUE $233,596

Expense Breakdown

Grants Paid $0

Salaries & Benefits $183,341

Fundraising Expenses $0

Program Expenses $307,881

Other Expenses $188,503

TOTAL EXPENSES $371,844

Year-over-Year Comparison

	2023	2022	Change
Revenue	$233,596	$261,027	-0.1%
Expenses	$371,844	$324,481	+0.1%
Net Income	$-138,248	$-63,454	+1.2%

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

N/A

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

$70,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
OLIVIA CLEMENTE	EXECUTIVE DI	40.00	Officer	$70,000	$0	$70,000
MATT CALLAHAN	PRESIDENT	1.00	Officer Director	$0	$0	$0
JEFF MIREL	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
SARAH CACIOLA	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVE GARDELL	TREASURER	1.00	Officer Director	$0	$0	$0
KERRY FAGAN	BOARD MEMBER	1.00	Director	$0	$0	$0
MARIE GAVAZZI	BOARD MEMBER	1.00	Director	$0	$0	$0
ANGELO GRASSO	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES KEHOE	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMIE MAGUR	BOARD MEMBER	1.00	Director	$0	$0	$0
ASTRI BRYCE	BOARD MEMBER	1.00	Director	$0	$0	$0
THERESA VAN DUYNE	BOARD MEMBER	1.00	Director	$0	$0	$0
VITO CICCARELLI	BOARD MEMBER	1.00	Director	$0	$0	$0
SEAMUS DONNELLY	BOARD MEMBER	1.00	Director	$0	$0	$0
MAYOR PATRICK MADDEN	BOARD MEMBER	1.00	Director	$0	$0	$0
KIMBERLY FREDERICKS	BOARD MEMBER	1.00	Director	$0	$0	$0
KIRK IVES	BOARD MEMBER	1.00	Director	$0	$0	$0
SAMANTHA TOEWS	BOARD MEMBER	1.00	Director	$0	$0	$0
DYLAN TUREK	BOARD MEMBER	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
2024	No data	No data	No data	No data
2023	$233,596	$371,844	$184,667	$-138,248
2022	$261,027	$324,481	$301,571	$-63,454
2021	$305,251	$232,354	$346,047	$72,897
2020	$219,878	$266,136	$272,500	$-46,258
2019	$329,526	$312,825	$334,416	$16,701
2018	$256,354	$200,606	$307,807	$55,748

DISTRICT MANAGEMENT ASSOC DOWNTOWN TROY BUSINESS IMPROVEMENT DIST INC