Overview
What is Downtown Amarillo Inc?
Downtown Amarillo Inc, a nonprofit organization situated in Amarillo, Texas, aims to revitalize and enliven the downtown area. In August 2019, they secured a loan of 350,000 USD from Amarillo National Bank and utilized it to acquire land at 500 S. Parker and 1601-1628 SW 5th. These properties were subsequently donated to the City of Amarillo, with plans to develop an intermodal transportation facility. This facility will accommodate bus operations and traffic, currently housed in a different building, thereby freeing up the historic building for more beneficial uses, aligning with Downtown Amarillo Inc's mission. The Amarillo Area Foundation contributed 50,000 USD to help retire the debt. With a vision to enhance downtown Amarillo, the organization continues its efforts to make the area more appealing and vibrant.
Is Downtown Amarillo Inc legitimate?
Downtown Amarillo Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Downtown Amarillo Inc 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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What is the mission statement of Downtown Amarillo Inc?
Downtown Amarillo Inc is dedicated to transforming its local area into a lively and appealing destination. The organization's mission is to foster a vibrant and alluring atmosphere, aiming to enhance the overall appeal of the area. In pursuit of this goal, Downtown Amarillo Inc recently secured a loan of $350,000 from Amarillo National Bank in August 2019. These funds were utilized to acquire parcels at two locations: 500 S. Parker and 1601-1628 SW 5th in Amarillo. Subsequently, these properties were donated to the City of Amarillo, which intends to develop an intermodal transportation facility on the site. This center will enable the relocation of bus operations and related traffic from an existing building, thereby freeing up the historic building for more beneficial purposes, thus furthering the mission of Downtown Amarillo Inc. Additionally, during the fiscal year ending on September 30, 2023, the Amarillo Area Foundation granted $50,000 to aid in retiring the debt.
Who is the CEO of Downtown Amarillo Inc?
Jim J Brewer is the Chairman of Downtown Amarillo Inc.
What is the revenue of Downtown Amarillo Inc?
Downtown Amarillo Inc's revenue in 2023 was $50,000.
Who are the executives of Downtown Amarillo Inc and what are their salaries?
Here are 16 key members and their salaries:
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Where can I find the form 990 for Downtown Amarillo Inc?
Downtown Amarillo Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Downtown Amarillo Inc
Downtown Amarillo Inc, a dedicated organization, is committed to transforming Downtown Amarillo into a lively and appealing area. Their mission is centered around enhancing the vitality and allure of the downtown sector, aiming to make it an attractive destination for the community. They strive to achieve this by utilizing various strategies and initiatives, aiming to improve the overall appeal of the downtown area.
In pursuit of this mission, Downtown Amarillo Inc has taken several steps. For instance, they secured a loan of 350,000 from Amarillo National Bank in August 2019, which was later used to acquire properties at 500 S. Parker and 1601-1628 SW 5th in Amarillo. These properties were later contributed to the City of Amarillo, with plans to construct an Intermodal Transportation Facility on the site. This facility will facilitate bus operations and traffic, currently housed in a different building, thereby making the historic building available for more beneficial uses, aligning with Downtown Amarillo Inc's mission.
Moreover, the Amarillo Area Foundation has extended support to Downtown Amarillo Inc by granting 50,000 during the fiscal year ending on 30th September 2023, to help retire the debt incurred from the loan. This financial assistance further strengthens Downtown Amarillo Inc's capacity to carry out its mission effectively, aiming to make Downtown Amarillo a vibrant and appealing place.
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Impact
October, 2024
Downtown Amarillo Inc plays a crucial role in revitalizing and enhancing the vibrancy of downtown Amarillo. By investing in key properties, such as the lots purchased at 500 S. Parker and 1601-1628 SW 5th, the organization has set the stage for significant urban developments, including the planned intermodal transportation facility. This initiative not only aims to improve transportation logistics by consolidating bus operations, but it also facilitates the repurposing of historic buildings, allowing them to serve more beneficial community functions.
The impact of Downtown Amarillo Inc is evident in its efforts to secure additional funding and grants to support these projects, demonstrating a commitment to fostering economic growth and community improvement. The strategic relocation of transportation services will not only enhance the functionality of downtown but also contribute to a more attractive urban environment, promoting further investments and activities in the area. Overall, Downtown Amarillo Inc serves as a catalyst for positive change, aiming to create a vibrant and desirable destination for residents and visitors alike.
This information is meant to be a general summary of Downtown Amarillo Inc. 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 2023.
- Gross Receipts: $50,000
Assets and Liabilities:
- Total Assets: $11,045
- Total Liabilities: $43,790
- Net Assets: -$32,745
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Organization Details
Phone
(806) 350-3581Principal Officer
Jim J Brewer
Main Address
801 S FILLMORE STE 420, AMARILLO, TX, 79101
NTEE Category
Code: S30 - Community improvement
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