Overview
What is Mckinney Downtown Business Re-Development Corp?
Mckinney Downtown Business Re-Development Corp is a nonprofit organization situated in the heart of McKinney, Texas, at 111 N Tennessee St. Their primary mission is to uphold and improve the vitality of the downtown area by means of economic redevelopment, design, organization, and promotion. This mission is part of McKinney's Main Street Program, a nationwide initiative originating from the National Trust for Historic Preservation. By fostering this vibrant downtown community, the corporation aims to contribute positively to the economic growth and overall appeal of the area, employing a team of one dedicated individual.
Official website here: www.downtownmckinney.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
The Mckinney Downtown Business Re-Development Corp has received an 81% rating from Charity Navigator, indicating a solid performance in accountability and finance. This score is derived entirely from their fiscal practices, reflecting a strong emphasis on responsible management of funds and transparency. The organization has successfully maintained a robust accountability structure, with a fully independent board and no reported material diversion of assets.
Strengths highlighted in the rating include a high program expense ratio of 95.33%, which suggests that a significant portion of their expenses directly supports their mission. Additionally, the organization has established comprehensive policies, such as conflict of interest, whistleblower, and document retention protocols, further contributing to its accountability. Their meeting minutes are also documented, enhancing transparency.
While the charity demonstrates strong financial practices, the rating does not include other performance metrics such as program effectiveness or community impact which could provide a more complete picture of their overall performance. Nevertheless, the high level of compliance with accountability standards reflects positively on their governance and operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Mckinney Downtown Business Re-Development Corp legitimate?
Mckinney Downtown Business Re-Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mckinney Downtown Business Re-Development Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Other Salaries and Wages: $0
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Official website here: www.downtownmckinney.com
What is the mission statement of Mckinney Downtown Business Re-Development Corp?
The Mckinney Downtown Business Re-Development Corp's mission is centered around preserving and enhancing the vitality of a downtown area. They accomplish this through economic revitalization, design, organization, and promotion, all as part of the Main Street Program. This national initiative, originating from the National Trust for Historic Preservation, serves as the foundation for their efforts. Their primary objective is to promote the historical downtown community and its businesses, fostering their growth and development.
Official website here: www.downtownmckinney.com
Who is the CEO of Mckinney Downtown Business Re-Development Corp?
Andrew Jones is the President of Mckinney Downtown Business Re-Development Corp.
Official website here: www.downtownmckinney.com
What is the revenue of Mckinney Downtown Business Re-Development Corp?
Mckinney Downtown Business Re-Development Corp's revenue in 2022 was $1,220,213.
Official website here: www.downtownmckinney.com
Who are the executives of Mckinney Downtown Business Re-Development Corp and what are their salaries?
There is 1 employee and 300 volunteers at Mckinney Downtown Business Re-Development Corp.
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Official website here: www.downtownmckinney.com
Where can I find the form 990 for Mckinney Downtown Business Re-Development Corp?
Mckinney Downtown Business Re-Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.downtownmckinney.com
Learn more at the official website: www.downtownmckinney.com
Mission Statement of Mckinney Downtown Business Re-Development Corp
The Mckinney Downtown Business Re-Development Corp, in alignment with the National Trust for Historic Preservation's Main Street Program, is committed to maintaining and enhancing the vitality of its downtown area. This is achieved through strategic economic redevelopment, design, organization, and promotion efforts. The organization's mission is centered around revitalizing the downtown community, fostering a thriving business environment, and preserving the historical charm that defines the area. By embracing these principles, the Mckinney Downtown Business Re-Development Corp contributes to the overall prosperity of the downtown district.
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Impact
July, 2024
Mckinney Downtown Business Re-Development Corp has had a significant impact on the historical downtown community of McKinney, Texas. By focusing on economic redevelopment, design, organization, and promotion as part of McKinney's Main Street program, they have helped maintain and enhance a vibrant downtown area. Their efforts have not only preserved the historical charm of the area but also supported local businesses and fostered a sense of community pride. Through their dedication to promoting the arts and revitalizing the downtown area, Mckinney Downtown Business Re-Development Corp has played a crucial role in the ongoing success and growth of the McKinney community.
This information is meant to be a general summary of Mckinney Downtown Business Re-Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $165
- Program Service Revenue: $1,220,048
- Gross Receipts: $1,220,213
Assets and Liabilities:
- Total Assets: $578,038
- Total Liabilities: $148,855
- Net Assets: $429,183
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Arts in Bloom
Revenue
$140,349
Home for the Holidays
Revenue
$305,136
Oktoberfest
Revenue
$543,548
Other special events
Revenue
$48,094
TX Music Revolution
Revenue
$113,565
Organization Details
Founding Year
2002
Phone
(972) 547-2662Principal Officer
Andrew Jones
Main Address
111 N Tennessee St, McKinney, TX, 75069
Website
www.downtownmckinney.comNTEE Category
Code: A80 - Arts
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