DOWNTOWN BLOOMINGTON INC

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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

1984

Legal Domicile

Principal Officer

JOAN SNAPP

Phone

8123363681

Tax Period

2024-01-01 to 2024-12-31

DOWNTOWN BLOOMINGTON INC, founded in 1984, is a small nonprofit that reported $438K in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $553K exceeded revenue, resulting in a 26% operating deficit.

Mission

DOWNTOWN BLOOMINGTON INC SEEKS TO EDUCATE THE PUBLIC ABOUT THE BENEFITS OF A STRONG DOWNTOWN. TO FACILITATE PUBLIC AND PRIVATE PARTNERSHIPS AND TO PROVIDE UNIFIED LEADERSHIP IN ORDER TO STREGTHEN AND SUPPORT DOWNTOWN AS THE CENTER FOR CULTURAL AND ARTISTIC EXPERIENCES. PROMOTE THE CONVENTION CENTER VENUE DOWNTOWN FOR MEETINGS AND EVENTS.

Program Service Accomplishments

Program 1

DOWNTOWN BLOOMINGTON INC HAS A WEBSITE, E-NEWS LETTER, AND A MEMBERSHIP DIRECTORY. THIS IS USED TO EDUCATE MEMBERS AND THE PUBLIC. IN ADDITION, WE COORDINATE AND SPONSOR DOWNTOWN EVENTS. THIS...

DOWNTOWN BLOOMINGTON INC HAS A WEBSITE, E-NEWS LETTER, AND A MEMBERSHIP DIRECTORY. THIS IS USED TO EDUCATE MEMBERS AND THE PUBLIC. IN ADDITION, WE COORDINATE AND SPONSOR DOWNTOWN EVENTS. THIS INCLUDES ADVERTISING, PROMOTING AND ORGANIZING VOLUNTEERS. WE ALSO PROMOTE THE MONROE CONVENTION CENTER LOCATED IN DOWNTOWN BLOOMINGTON.

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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 (2024)

Revenue Breakdown

Contributions & Grants $25,183

Program Service Revenue $413,026

Investment Income $0

Other Revenue $0

TOTAL REVENUE $438,209

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $553,017

TOTAL EXPENSES $553,017

Year-over-Year Comparison

	2024	2023	Change
Revenue	$438,209	$596,632	-0.3%
Expenses	$553,017	$472,901	+0.2%
Net Income	$-114,808	$123,731	-1.9%

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

N/A

Volunteers

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
CRYSTAL RITTER	DIRECTOR	1.00	Director	$0	$0	$0
DON WEILER	DIRECTOR	1.00	Director	$0	$0	$0
ERIC SPOONMORE	DIRECTOR	1.00	Director	$0	$0	$0
GEOFF MCKIM	DIRECTOR	1.00	Director	$0	$0	$0
HOLLY WARREN	DIRECTOR	1.00	Director	$0	$0	$0
JERRY HAYS	DIRECTOR	1.00	Director	$0	$0	$0
MARY MORGAN	DIRECTOR	1.00	Director	$0	$0	$0
MIKE MANN	DIRECTOR	1.00	Director	$0	$0	$0
MIKE MCAFEE	DIRECTOR	1.00	Director	$0	$0	$0
PENNY GITHENS	DIRECTOR	1.00	Director	$0	$0	$0
RON STANHOUSE	DIRECTOR	1.00	Director	$0	$0	$0
SAMANTHA EIBLING	DIRECTOR	1.00	Director	$0	$0	$0
SYDNEY ZULICH	DIRECTOR	1.00	Director	$0	$0	$0
TALIA HALLIDAY	DIRECTOR	1.00	Director	$0	$0	$0
REV MATT SEDDON	PRESIDENT	1.00	Officer Director	$0	$0	$0
JIM DOERING	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
CINDY KINNARNEY	TREASURER	1.00	Officer Director	$0	$0	$0
REBECCA HIGGINS	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVE KUBIAK	PAST PRESIDENT	1.00	Officer 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	$438,209	$553,017	$416,664	$-114,808
2023	$596,632	$472,901	$528,241	$123,731
2022	$385,571	$407,608	$421,258	$-22,037
2021	$379,777	$312,609	$443,066	$67,168
2020	$347,439	$176,953	$344,071	$170,486