NORTH 24TH STREET BUSINESS IMPROVE… - 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

2020

Legal Domicile

Principal Officer

LAVONYA GOODWIN

Phone

4025758164

Tax Period

2025-01-01 to 2025-12-31

NORTH 24TH STREET BUSINESS IMPROVEMENT D, founded in 2020, is a small nonprofit in the Community Improvement sector that reported $422K in total revenue in fiscal year 2025. Revenue surged 62% from the prior year, signaling strong growth momentum.

Mission

NONE

Program Service Accomplishments

Program 1

Expenses: $196,178

NORTH 24TH STREET IS A WORLD CLASS DESTINATION RICH IN FAITH, FAMILY, AND HISTORY, LEGENDARY FOR MUSIC, SPORTS AND THE ARTS; SEATED IN OMAHA'S THRIVING ECONOMIC EPICENTER. ON JUNE 2, 2020, THE OMAHA CITY COUNCIL APPROVED THE NORTH 24TH STREET BUSINESS IMPROVEMENT DISTRICT (BID) FROM MEREDITH AVE TO CUMING STREET, THE FIRST OF ITS KIND IN NORTH OMAHA. THE NORTH 24TH STREET BID IS THE 2ND LARGEST BID IN THE CITY OF OMAHA, 2.3 MILES FROM NORTH TO SOUTH.

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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 (2025)

Revenue Breakdown

Contributions & Grants $352,872

Program Service Revenue $0

Investment Income $69,398

Other Revenue $0

TOTAL REVENUE $422,270

Expense Breakdown

Grants Paid $0

Salaries & Benefits $209,746

Fundraising Expenses $0

Program Expenses $196,178

Other Expenses $238,856

TOTAL EXPENSES $448,602

Year-over-Year Comparison

	2025	2024	Change
Revenue	$422,270	$260,814	+0.6%
Expenses	$448,602	$290,629	+0.5%
Net Income	$-26,332	$-29,815	-0.1%

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

N/A

Employees

N/A

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

$98,830

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR RALPH LASSITER	PRESIDENT	5.00	Officer Director	$0	$0	$0
PRESTON LOVE JR	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
BENTLEY SWAN	TREASURER	5.00	Officer Director	$0	$0	$0
DOYSA WHITAKER	ASST TREASURER	5.00	Officer Director	$0	$0	$0
RALPH KLEINSMITH	SECRETARY	5.00	Officer Director	$0	$0	$0
GARY BALLARD	BOARD MEMBER	5.00	Director	$0	$0	$0
LAVONYA GOODWIN	EXECUTIVE DIRECTOR	40.00	Officer	$98,830	$0	$98,830

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	$422,270	$448,602	$1,494,210	$-26,332
2024	No data	No data	No data	No data

NORTH 24TH STREET BUSINESS IMPROVEMENT D