Overview
What is Main Street Square?
Main Street Square is a vibrant community gathering space situated in the heart of Rapid City, South Dakota. Managed by an organization with a 41-strong workforce, this town square operates under an agreement with the city. Throughout 2022, Main Street Square hosted over 60 events, attracting a substantial crowd of 150,000 to 250,000 individuals. Features such as an interactive water fountain in summer and an ice skating rink in winter contribute to the square's allure. A visitor information center is also available, offering insights into the local community. Events held during the year included holiday celebrations, movie screenings, and musical concerts. Main Street Square also collaborates with other cities to learn about economic development, subsequently enhancing its own events. By redeveloping and revitalizing downtown Rapid City, the organization focuses on improving streets, facades, and the business mix, as well as implementing clean and safe programs. The organization maintains a website and distributes literature promoting downtown businesses and events, with a strong emphasis on the arts. In 2017, a significant sculpture project was accomplished, positioning Rapid City as an arts destination. With a community-focused approach, Main Street Square plays a significant role in enriching the cultural and social landscape of the Rapid City community.
Official website here: www.mainstreetsquare.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87%, Three-Star out of Four Star rating.
Main Street Square has received a commendable score of 87%, reflecting its strong performance in accountability and finance. The rating indicates that the organization has transparent practices, with a high percentage of independent board members and effective financial oversight measures in place. Notably, there is no material diversion of assets reported, showcasing financial integrity.
However, while the organization excels in several areas, it has some limitations, particularly in its governance policies. The absence of a whistleblower policy and a document retention and destruction policy, along with the missing posting of its tax form on its website, are areas that could be improved. Such omissions may raise concerns about transparency and compliance with best practices in nonprofit governance.
Overall, Main Street Square demonstrates a solid commitment to accountability, but addressing the noted deficiencies could enhance its credibility and operational transparency further, ultimately benefiting its stakeholders and community.
This AI summary has been generated from information found on Charity Navigator.
Is Main Street Square legitimate?
Main Street Square is a legitimate nonprofit organization registered as a 501(c)(3) entity. Main Street Square 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $88,595
Professional Fundraising Fees: $0
Other Salaries and Wages: $418,092
For more financial information, click here
Official website here: www.mainstreetsquare.org
What is the mission statement of Main Street Square?
Main Street Square's mission is to operate an active community gathering place in the heart of the city, promoting pedestrian traffic and strengthening the community's center. The organization supports, encourages, advocates, and preserves the vitality and aesthetic beauty of the local business community by managing this town square, which is owned by the city of Rapid City. The primary goal is to provide a space that brings the entire community together, fostering a sense of unity and enhancement to the downtown area.
Official website here: www.mainstreetsquare.org
Who is the CEO of Main Street Square?
Matt Senftner is the President/Ce of Main Street Square.
Official website here: www.mainstreetsquare.org
What is the revenue of Main Street Square?
Main Street Square's revenue in 2022 was $1,099,464.
Official website here: www.mainstreetsquare.org
Who are the executives of Main Street Square and what are their salaries?
The average compensation at Main Street Square during 2022 was $12,358. There are 41 employees and 34 volunteers at Main Street Square.
Here are 14 key members and their salaries:
- Compensation: $81,428
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- Other: $7,167
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Official website here: www.mainstreetsquare.org
Where can I find the form 990 for Main Street Square?
Main Street Square's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mainstreetsquare.org
Learn more at the official website: www.mainstreetsquare.org
Mission Statement of Main Street Square
Main Street Square, a community-focused organization, operates a town square in the heart of a downtown area, specifically in Rapid City. Its mission is multifaceted, aimed at serving the entire community. Firstly, Main Street Square strives to provide an active gathering place where people can socialize and interact. Secondly, it aims to invite more pedestrian traffic into the downtown area, thereby enhancing the vibrancy and attractiveness of the location. Lastly, the organization works towards strengthening the community's core by supporting, encouraging, advocating, and preserving the vitality and aesthetic beauty of the local business community. In essence, Main Street Square is committed to fostering a thriving and visually appealing downtown area that serves as a hub for community engagement and economic development.
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Impact
October, 2024
Main Street Square significantly enhances the vibrancy and connectivity of downtown Rapid City, serving as a dynamic hub for community engagement and cultural activities. By hosting over 60 events in 2022, attracting between 150,000 to 250,000 visitors, the square has become a beacon for pedestrian traffic, fostering a sense of belonging and pride among residents.
The interactive water fountain and seasonal ice skating rink encourage year-round usage, while various events—such as holiday celebrations and concert series—nurture community ties, attract visitors, and stimulate local businesses. The square's design and activities aim to revitalize the downtown area, elevating its aesthetic appeal and promoting economic growth through increased foot traffic.
In addition, Main Street Square champions the arts, exemplified by a landmark sculpture project that established the city as an arts destination and became the largest privately funded public art commission in the U.S. This initiative not only enriches the cultural landscape but also underscores the value of community input and collaboration.
Overall, Main Street Square plays a crucial role in strengthening the heart of Rapid City, enhancing social cohesion, supporting local businesses, and preserving the community's aesthetic beauty.
This information is meant to be a general summary of Main Street Square. 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: $2,021
- Program Service Revenue: $444,355
- Gross Receipts: $1,102,491
Assets and Liabilities:
- Total Assets: $1,669,966
- Total Liabilities: $128,265
- Net Assets: $1,541,701
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BID REVENUE
Revenue
$224,229
ICE SKATING
Revenue
$111,375
COMMUNITY EVENTS
Revenue
$98,751
DOWNTOWN ADVERTISING
Revenue
$10,000
Organization Details
Founding Year
2010
Phone
(605) 716-7979Principal Officer
Matt Senftner
Main Address
512 MAIN STREET SUITE 980, RAPID CITY, SD, 57701
Website
www.mainstreetsquare.orgNTEE Category
Code: S20 - Community improvement
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