THE DOWNTOWN LITTLE ROCK PARTNERSHIP

EIN: 710602465 501(c)(3) Community Improvement

LITTLE ROCK, AR

Total Revenue
$674,713
Total Expenses
$779,402
Total Assets
$428,821
Net Assets
$211,022
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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
AR
Principal Officer
GABE HOLMSTROM
Phone
5013750121
Tax Period
2023-01-01 to 2023-12-31

THE DOWNTOWN LITTLE ROCK PARTNERSHIP, founded in 1999, is a small nonprofit in the Community Improvement sector that reported $675K in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $779K exceeded revenue, resulting in a 16% operating deficit.

Mission

THE ORGANIZATION STRIVES TO PROVIDE LEADERSHIP BY ADDRESSING OR ADVOCATING FOR PLANNING, LEGISLATION, TRANSPORTATION, ECONOMIC DEVELOPMENT AND NUMEROUS PUBLIC AND PRIVATE INITIATIVES. THESE INITIATIVES SERVE TO STRENGTHEN THE OVERALL DOWNTOWN BUSINESS, CULTURAL, ENTERTAINMENT, RECREATIONAL, AND RESIDENTIAL COMMUNITIES AND TO ENHANCE THE IMAGE OF DOWNTOWN LITTLE ROCK.

Program Service Accomplishments

Program 1
Expenses: $580,762 Revenue: $129,042

DOWNTOWN DEVELOPMENT - TO STIMULATE AND ENCOURAGE THE MODERNIZATION AND DEVELOPMENT OF THE CENTRAL BUSINESS DISTRICT OF THE CITY OF LITTLE ROCK, AR, IN ORDER TO PREVENT URBAN BLIGHT AND DECAY, REDUCE...

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DOWNTOWN DEVELOPMENT - TO STIMULATE AND ENCOURAGE THE MODERNIZATION AND DEVELOPMENT OF THE CENTRAL BUSINESS DISTRICT OF THE CITY OF LITTLE ROCK, AR, IN ORDER TO PREVENT URBAN BLIGHT AND DECAY, REDUCE UNSAFE AND UNSANITARY CONDITIONS FOR THE BENEFIT OF THE GENERAL PUBLIC. THE COMPANY CREATED A MAIN STREET REVITALIZATION COMMITTEE TO ASSIST WITH 'TURNING THE CORNER ON MAIN STREET'. THE COMMITTEE PARTNERED WITH THE CITY OF LITTLE ROCK IN THE REVITALIZATION EFFORTS. EARLY SUCCESSES HAVE INCLUDED THE ANNOUNCEMENT OF RENOVATIONS TO THE BUILDING AT 315 MAIN STREET FOR A JAZZ CAFE AND BAR, AND APARTMENTS, A SECURITY CAMERA AT THE CORNER OF 3RD AND MAIN, AND THE COMPLETION OF STREETSCAPE ALTERATIONS AT THE REPERTORY THEATRE.LEADERSHIP, ADVOCACY, AND FUNDRAISING ASSISTANCE FOR MCARTHUR PARK GROUP'S DEVELOPMENT OF A MASTER PLAN TO UPGRADE HISTORIC MCARTHUR PARK TO A 'CLASS A' PARK DESIGNATION AS WELL AS BETTER INTEGRATION OF THE PARK WITH IT'S HISTORIC NEIGHBORHOOD IN AN URBAN SETTING. THE GROUP HAS ALSO DEVELOPED THE MUSEUM ART AND HERITAGE (WALKING) TRAIL AND THE ACCOMPANYING AWARD WINNING ARKANSAS POLITICAL HISTORY AUDIO TOUR.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $542,276
Program Service Revenue $129,042
Investment Income $3,395
Other Revenue $0
TOTAL REVENUE $674,713

Expense Breakdown

Grants Paid $7,135
Salaries & Benefits $413,303
Fundraising Expenses $80,214
Program Expenses $580,762
Other Expenses $358,964
TOTAL EXPENSES $779,402

Year-over-Year Comparison

2023 2022 Change
Revenue $674,713 $750,502 -0.1%
Expenses $779,402 $714,496 +0.1%
Net Income $-104,689 $36,006 -3.9%
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
71
Independent Members
71
Employees
5
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
13
$182,017
Total Directors
71
$182,017
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GABE HOLMSTROM EXECUTIVE DIRECTOR 40.00
Officer Director
$170,739 $11,278 $182,017
CAROL WORLEY PRESIDENT 0.00
Officer Director
$0 $0 $0
DAVID SARGENT VICE PRESIDENT 0.00
Officer Director
$0 $0 $0
PATTIE DAVIDSON TREASURER 0.00
Officer Director
$0 $0 $0
BRENT BIRCH PAST PRESIDENT 0.00
Officer Director
$0 $0 $0
CHRIS EAST AT LARGE 0.00
Officer Director
$0 $0 $0
HANK KELLEY AT LARGE 0.00
Officer Director
$0 $0 $0
JIMMY MOSES AT LARGE 0.00
Officer Director
$0 $0 $0
GINA GEMBERLING LRVCB REPRESENTATIVE 0.00
Officer Director
$0 $0 $0
DOUG MEYER METROCENTRE REPRESENTATIVE 0.00
Officer Director
$0 $0 $0
DR DEAN KUMPURIS CITY BOARD OF DIRECTORS 0.00
Officer Director
$0 $0 $0
BRUCE MOORE CITY MANAGER 0.00
Officer Director
$0 $0 $0
MAYOR FRANK D SCOTT JR CITY OF LITTLE ROCK MAYOR 0.00
Officer Director
$0 $0 $0
MADELINE BALGAVY DIRECTOR 0.00
Director
$0 $0 $0
KATY BARTLETT DIRECTOR 0.00
Director
$0 $0 $0
KELLEY BASS DIRECTOR 0.00
Director
$0 $0 $0
JUSTIN AVERY DIRECTOR 0.00
Director
$0 $0 $0
COLLEEN BAILEY DIRECTOR 0.00
Director
$0 $0 $0
PATRICIA BLICK DIRECTOR 0.00
Director
$0 $0 $0
PHIL BRANDON DIRECTOR 0.00
Director
$0 $0 $0
BLAKE BOWLIN DIRECTOR 0.00
Director
$0 $0 $0
JAY CHESSHIR DIRECTOR 0.00
Director
$0 $0 $0
CHRISTA CLARK DIRECTOR 0.00
Director
$0 $0 $0
NATE COULTER DIRECTOR 0.00
Director
$0 $0 $0
NATHAN COULTER DIRECTOR 0.00
Director
$0 $0 $0
NIKKI CRANE DIRECTOR 0.00
Director
$0 $0 $0
ROSS CRANFORD DIRECTOR 0.00
Director
$0 $0 $0
GUY CHOATE DIRECTOR 0.00
Director
$0 $0 $0
CASEY COVINGTON DIRECTOR 0.00
Director
$0 $0 $0
DR CHRISTINA DRALE DIRECTOR 0.00
Director
$0 $0 $0
JACOB FAIR DIRECTOR 0.00
Director
$0 $0 $0
JACOB E HALL DIRECTOR 0.00
Director
$0 $0 $0
JUSTIN ALLEN DIRECTOR 0.00
Director
$0 $0 $0
ROCKY GOODMAN DIRECTOR 0.00
Director
$0 $0 $0
DENISE HANSON DIRECTOR 0.00
Director
$0 $0 $0
JAY HARTMAN DIRECTOR 0.00
Director
$0 $0 $0
STANLEY HASTINGS JR DIRECTOR 0.00
Director
$0 $0 $0
SHANNON HEARD DIRECTOR 0.00
Director
$0 $0 $0
COLIN CRAWFORD DIRECTOR 0.00
Director
$0 $0 $0
JUDGE BARRY HYDE DIRECTOR 0.00
Director
$0 $0 $0
ANNE LAIDLAW DIRECTOR 0.00
Director
$0 $0 $0
DAVID LANG DIRECTOR 0.00
Director
$0 $0 $0
VALERIE ERKMAN DIRECTOR 0.00
Director
$0 $0 $0
TOMMY LASITER DIRECTOR 0.00
Director
$0 $0 $0
ARLTON LOWERY DIRECTOR 0.00
Director
$0 $0 $0
KYLE JAMES DIRECTOR 0.00
Director
$0 $0 $0
MANDY MARSHALL DIRECTOR 0.00
Director
$0 $0 $0
JOHN MARTIN DIRECTOR 0.00
Director
$0 $0 $0
GREG MCCARROLL DIRECTOR 0.00
Director
$0 $0 $0
DAVID HUTCHISON DIRECTOR 0.00
Director
$0 $0 $0
STACI MILLER DIRECTOR 0.00
Director
$0 $0 $0
LISA LAKE DIRECTOR 0.00
Director
$0 $0 $0
ODELL NICKELBERRY DIRECTOR 0.00
Director
$0 $0 $0
PAUL PARNELL DIRECTOR 0.00
Director
$0 $0 $0
HEARTSILL RAGON III DIRECTOR 0.00
Director
$0 $0 $0
SARAH BETH LEADER DIRECTOR 0.00
Director
$0 $0 $0
LESLEY NALLEY DIRECTOR 0.00
Director
$0 $0 $0
MIMI SAN PEDRO DIRECTOR 0.00
Director
$0 $0 $0
MARTI NICHOLSON DIRECTOR 0.00
Director
$0 $0 $0
ROSS OWYOUNG DIRECTOR 0.00
Director
$0 $0 $0
MARK STODOLA DIRECTOR 0.00
Director
$0 $0 $0
GREG PIRKLE DIRECTOR 0.00
Director
$0 $0 $0
DEBBIE SHOCK DIRECTOR 0.00
Director
$0 $0 $0
JAMES SULLIVAN DIRECTOR 0.00
Director
$0 $0 $0
REBECCA TENNILLE DIRECTOR 0.00
Director
$0 $0 $0
ALEX THOMAS DIRECTOR 0.00
Director
$0 $0 $0
DREW WILLIAMS DIRECTOR 0.00
Director
$0 $0 $0
WILL TRICE DIRECTOR 0.00
Director
$0 $0 $0
JEFF UTECHT DIRECTOR 0.00
Director
$0 $0 $0
JEREMIAH WOOD DIRECTOR 0.00
Director
$0 $0 $0
SARAH THOMAS DIRECTOR 0.00
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 $674,713 $779,402 $428,821 $-104,689
2022 $750,502 $714,496 $519,430 $36,006
2021 $731,848 $651,757 $484,652 $80,091
2020 $677,859 $744,362 $468,971 $-66,503
2019 $771,088 $826,063 $321,453 $-54,975
2019 $771,088 $826,063 $321,453 $-54,975
2018 $684,447 $666,595 $411,702 $17,852
2018 $684,447 $666,595 $411,702 $17,852
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