CHARLES STREET DEVELOPMENT CORP

EIN: 522272852 501(c)(3) Community Improvement

BALTIMORE, MD

Total Revenue
$130,416
Total Expenses
$156,720
Total Assets
$12,497
Net Assets
$12,497
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
MD
Principal Officer
LANCE HOBOY
Phone
4102748830
Tax Period
2023-01-01 to 2023-12-31

CHARLES STREET DEVELOPMENT CORP, founded in 2000, is a small nonprofit in the Community Improvement sector that reported $130K in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year. Expenses of $157K exceeded revenue, resulting in a 20% operating deficit.

Mission

TO SUPPORT, ENHANCE AND IMPROVE THE PUBLIC AND PRIVATE PHYSICAL, CULTURAL, EDUCATIONAL, RESIDENTIAL, RETAIL AND OTHER BUSINESS ENVIRONMENTS OF THAT PART OF THE CITY OF BALTIMORE GENERALLY KNOWN AS THE HISTORIC CHARLES STREET AREA.

Program Service Accomplishments

Program 1

COMMUNITY INVESTMENT CROWDFUNDING - WORKED IN PARTNERSHIP WITH THE MARYLAND NEIGHBORHOOD EXCHANGE TO ENCOURAGE SMALL BUSINESSES WHO NEED CAPITAL TO USE COMMUNITY INVESTMENT CROWDFUNDING AS A SOURCE...

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COMMUNITY INVESTMENT CROWDFUNDING - WORKED IN PARTNERSHIP WITH THE MARYLAND NEIGHBORHOOD EXCHANGE TO ENCOURAGE SMALL BUSINESSES WHO NEED CAPITAL TO USE COMMUNITY INVESTMENT CROWDFUNDING AS A SOURCE OF FUNDS. THESE CAMPAIGNS HELP BUSINESSES RAISE MONEY FROM THEIR CUSTOMERS AND NEIGHBORS, RATHER THAN FROM A BANK.

Program 2
Expenses: $2,500

CHARLES STREET PROMENADE - HOSTED A DAY LONG FESTIVAL ALONG CHARLES STREET WITH DOWNTOWN PARTNERSHIP OF BALTIMORE AND OTHER COMMUNITY PARTNERS. THE STREET WAS CLOSED TO TRAFFIC FROM SARATOGA TO NORTH...

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CHARLES STREET PROMENADE - HOSTED A DAY LONG FESTIVAL ALONG CHARLES STREET WITH DOWNTOWN PARTNERSHIP OF BALTIMORE AND OTHER COMMUNITY PARTNERS. THE STREET WAS CLOSED TO TRAFFIC FROM SARATOGA TO NORTH AVENUE TO ALLOW PEDESTRIANS, BIKES AND SCOOTERS STROLL ALONG CHARLES STREET. WALKING TOURS, MUSICIANS, EXERCISE CLASSES, RESTAURANTS AND RETAILERS WERE ABLE TO ENJOY THE EXPERIENCE OF A CAR-FREE BUT ACTIVE HISTORIC, CULTURAL AND COMMERCIAL STREET.

Program 3

SMALL BUSINESS ASSISTANCE - PROVIDED TECHNICAL ASSISTANCE AND ADVOCACY FOR SMALL BUSINESSES IN THE CHARLES STREET CORRIDOR. ACTIVITIES INCLUDED HOSTING SMALL BUSINESS RESOURCE DAYS WITH PARTNER...

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SMALL BUSINESS ASSISTANCE - PROVIDED TECHNICAL ASSISTANCE AND ADVOCACY FOR SMALL BUSINESSES IN THE CHARLES STREET CORRIDOR. ACTIVITIES INCLUDED HOSTING SMALL BUSINESS RESOURCE DAYS WITH PARTNER ORGANIZATIONS, HELPING SMALL BUSINESSES NAVIGATE PERMITTING AND OTHER CITY AGENCY REQUIREMENTS, SHARING GRANT OPPORTUNITIES, AND CONNECTING THEM TO THE OFFICE AND RESIDENTIAL COMMUNITIES IN THE CORRIDOR.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $130,416
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $130,416

Expense Breakdown

Grants Paid $0
Salaries & Benefits $140,570
Fundraising Expenses $0
Program Expenses $2,500
Other Expenses $16,150
TOTAL EXPENSES $156,720

Year-over-Year Comparison

2023 2022 Change
Revenue $130,416 $160,426 -0.2%
Expenses $156,720 $174,322 -0.1%
Net Income $-26,304 $-13,896 +0.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
80
Independent Members
80
Employees
2
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
0
$0
Total Directors
1
$78,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KRISTIN SPEAKER EXECUTIVE DIRECTOR 40.00
Director
$78,000 $0 $78,000
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 $130,416 $156,720 $12,497 $-26,304
2022 $160,426 $174,322 $50,801 $-13,896
2021 $155,447 $143,132 $52,698 $12,315
2020 $117,761 $122,164 $43,660 $-4,403
2019 $143,463 $133,453 $48,631 $10,010
2018 $135,750 $141,626 $35,420 $-5,876
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