Mount Vernon, WA
4 risk indicators measuring financial stability and operational resilience
Sign in with your work email to view Tuckman-Chang indicators
Sign In — Free (10 views/day)Mount Vernon Downtown Association, founded in 1994, is a small nonprofit in the Community Improvement sector that reported $342K in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $378K exceeded revenue, resulting in a 10% operating deficit.
The mission of the Mount Vernon Downtown Association is to cultivate a vibrant and prosperous downtown while honoring its historic character, to preserve and grow the place where community connection happens. Our vision is of a thriving historic downtown Mount Vernon, where all are welcome in the clean, safe, and appealing heart of commerce and culture; a place where the community comes together with pride.
In 2023, the MVDA continued its ongoing work of supporting our community by providing opportunities for social connection and generating civic pride through a robust calendar of events in the...
In 2023, the MVDA continued its ongoing work of supporting our community by providing opportunities for social connection and generating civic pride through a robust calendar of events in the district that we either solely produced or partnered in production. That calendar included 22 community events as well as our three-day Tulip Festival Street Fair, which brought an estimated 35 thousand visitors to our district in April. As the first outdoor event in our region during the calendar year, the Tulip Festival Street Fair provides a much-needed influx of tourism revenue for our businesses. All events except for two ticketed fundraising events were free and open to the public. We continued and further developed partnerships with other community organizations, such as the Mount Vernon Chamber of Commerce, Public Hospital District #1, the Mount Vernon School District, the City of Mount Vernon, the Economic Development Alliance of Skagit County, and the Center for Inclusive Entrepreneurship, and others. We continued our economic ecosystem development work through operating our small business incubator space, The Pop-Up Mount Vernon and our retail art gallery/gift shop, the LIDO Collective. The LIDO Collective is a creative microenterprise incubator that strengthens the local arts economy by providing area artists and artisans with a year-round sales outlet, rendering them less dependent on seasonal events, and strengthens our downtown business environment by adding retail interest and creating more foot traffic, serving to draw commerce from our popular food Co-Op out into the downtown. The LIDO Collective provided the retail outlet opportunity to over 60 local and regional artists in 2023. The Mount Vernon Downtown Association also served the district through non-event promotional activities, such as two shop-local punch card campaigns and the continued production and distribution of glossy marketing materials like our Downtown Dining Guide and shopping guides, as well as maintaining our website and multiple social media pages on Facebook and Instagram. We continue to provide information and connections to resources for our businesses. In June, we again hosted an event celebrating Washington Main Street Week, bringing elected representatives and visitors from the states preservation community into the district to see our communitys progress under the Main Street program. As in previous years, we continue to partner with our city in the beautification and maintenance of the historic downtown through our hanging basket program, a lighted street tree program during the dark fall and winter months, streetscape improvements, community clean-up events, and hanging banners. We advocate for the interests of our business and property owners at the local, state and federal levels. We provide information and connections to many resources for our business owners. We work with business and property owners as requested in property and business ownership and leasing transitions, and work assiduously to both recruit and retain businesses in our historic commercial district.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
Sign in to view Trantor Score and financial metrics
Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $342,231 | $280,388 | +0.2% |
| Expenses | $377,776 | $391,776 | 0.0% |
| Net Income | $-35,545 | $-111,388 | -0.7% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
Sign in to view all financial metrics
Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| ELLEN GAMSON | Executive Dir. | 45.00 |
Officer
Director
|
$78,678 | $0 | $78,678 |
| Brooke Ahleghian-Pressly | Director | 5.00 |
Director
|
$0 | $0 | $0 |
| Katie Wagenbach | Director | 5.00 |
Director
|
$0 | $0 | $0 |
| Angela Speer | Director | 5.00 |
Director
|
$0 | $0 | $0 |
| JEFF MCINNIS | Director | 5.00 |
Director
|
$0 | $0 | $0 |
| MEGAN SCOTT-O'BRYAN | Director | 5.00 |
Director
|
$0 | $0 | $0 |
| HANNAH LAMAY | President | 5.00 |
Officer
Director
|
$0 | $0 | $0 |
| Sheena Wilson | Director | 5.00 |
Director
|
$0 | $0 | $0 |
| Sarah Parker | Past president | 5.00 |
|
$0 | $0 | $0 |
| Rachel Johnson | Former director | 0.00 |
|
$0 | $0 | $0 |
| TRINA CARLSON | former director | 0.00 |
|
$0 | $0 | $0 |
| JENNIFER COVEY | former director | 0.00 |
|
$0 | $0 | $0 |
| Andy Mayer | former director | 0.00 |
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $342,231 | $377,776 | $165,751 | $-35,545 |
| 2023 | $280,388 | $391,776 | $179,679 | $-111,388 |
| 2022 | $318,077 | $322,567 | $295,755 | $-4,490 |
| 2021 | $224,478 | $213,654 | $298,193 | $10,824 |
| 2020 | $240,014 | $199,029 | $303,884 | $40,985 |
| 2019 | $192,985 | $161,269 | $134,189 | $31,716 |
| 2018 | $165,087 | $120,969 | $102,338 | $44,118 |
Compare Mount Vernon Downtown Association with other nonprofits in Washington and across the country.