Overview
What is Downtown Development Corporation?
The Downtown Development Corporation (DDC) is a nonprofit organization situated in Louisville, Kentucky, dedicated to fostering the economic growth and development of the downtown area. As a community-driven entity, DDC collaborates closely with various private and public organizations to implement a strategic vision for downtown's advancement. Their approach encompasses three main pillars: rebuilding a resilient and vibrant downtown, addressing community concerns about safety, and preserving the unique cultural and entertainment experiences that downtown offers. In 2022, DDC devoted significant time and resources to supporting the economic development of downtown, working with businesses, developers, property owners, and other stakeholders. Their initiatives included releasing an economic impact report, planning the next decade's development plan, advocating for ARP funding, and providing guidance for the Louisville Medical & Education District. Additionally, DDC offered support to retailers and restaurants and facilitated development through market research and loan funds. DDC plays a crucial role in bringing together the public and private sectors as partners in downtown's redevelopment and long-term planning. With a mission to improve the economic health of downtown, they serve as the lead entity in the development and implementation of the Downtown Master Plan, actively working with organizations such as Louisville Metro Government, Greater Louisville Inc., and the International Downtown Association.
Official website here: www.louisvilledowntown.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Stars
The Downtown Development Corporation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial transparency. The organization received a perfect score in several categories, including an entirely independent board and robust financial oversight, indicating a well-structured governance framework. The high program expense ratio of 76.56% suggests that a significant portion of its resources is directly allocated to its mission-driven programs.
Strengths highlighted in the rating include the presence of a whistleblower policy, conflict of interest policy, and comprehensive audit practices, which collectively enhance the organization's accountability mechanisms. Furthermore, the organization has shown no material diversion of assets, reinforcing trust in its financial practices. The Downtown Development Corporation's fiscal health appears solid, evidenced by a low liabilities to assets ratio of 7.36%.
While the financial details reveal a competitive salary for the Executive Director at $142,917, it's worth noting that other directors receive no compensation. This could reflect an intentional strategy to maintain financial efficiency or could be a point of consideration for future governance discussions. Overall, the Downtown Development Corporation stands out as a well-managed entity with a focus on maintaining high standards of accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Downtown Development Corporation legitimate?
Downtown Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Downtown Development Corporation 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: $180,209
Professional Fundraising Fees: $0
Other Salaries and Wages: $318,832
For more financial information, click here
Official website here: www.louisvilledowntown.org
What is the mission statement of Downtown Development Corporation?
The Downtown Development Corporation, being a private, non-profit organization, is dedicated to promoting the long-term economic health of downtown areas. It represents the community's civic and business leadership and has played a crucial role in bringing together both public and private sectors as partners in the redevelopment and long-term planning of downtown areas since 1988. The organization serves as the lead entity in the development and implementation of master plans, acting as a bridge between various sectors to foster growth and improvement in these urban centers.
Official website here: www.louisvilledowntown.org
Who is the CEO of Downtown Development Corporation?
Rebecca Fleischaker is the Director of Downtown Development Corporation.
Official website here: www.louisvilledowntown.org
What is the revenue of Downtown Development Corporation?
Downtown Development Corporation's revenue in 2022 was $1,635,538.
Official website here: www.louisvilledowntown.org
Who are the executives of Downtown Development Corporation and what are their salaries?
The average compensation at Downtown Development Corporation during 2022 was $55,449. There are 9 employees and 44 volunteers at Downtown Development Corporation.
Here are 45 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $142,917
- Related: $0
- Other: $37,292
Official website here: www.louisvilledowntown.org
Where can I find the form 990 for Downtown Development Corporation?
Downtown Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.louisvilledowntown.org
Learn more at the official website: www.louisvilledowntown.org
Mission Statement of Downtown Development Corporation
The Downtown Development Corporation, a private, non-profit organization, is committed to ensuring the long-term economic health of downtown areas. Acting as a bridge between the public and private sectors, this organization has played a pivotal role in partnering with both sectors since its establishment in 1988. Serving as the leading entity in the development and implementation of downtown master plans, the Downtown Development Corporation has been instrumental in revitalizing and planning for the sustainable growth of downtown areas. The organization's mission is to represent the civic and business leadership of the community, contributing to the overall improvement and development of downtown areas.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Downtown Development Corporation (DDC) has been instrumental in shaping the economic landscape of downtown Louisville since its inception in 1988. It serves as a crucial bridge between public and private sectors, ensuring a cohesive approach to the area's redevelopment and long-term planning through the Downtown Master Plan.
One of DDC's primary impacts is economic development, crafting a strategic vision that fosters a resilient downtown. This includes creating a diverse mix of residents, workers, and visitors, which reflects the community's social and economic fabric. DDC tackles community safety concerns, both real and perceived, enhancing the perceptions of safety and security in the area.
In 2022, DDC's efforts included releasing a Downtown Economic Impact Report, highlighting the essential role of a robust downtown for the broader metropolitan area and advocating for sustained investment. It is actively involved in drafting the Downtown Strategic Plan, which will guide development over the next decade while addressing challenges resulting from the COVID-19 pandemic and social justice movements.
DDC also plays a pivotal role in supporting local businesses through tailored initiatives such as creating new loan products to assist small businesses and implementing programs designed to attract new ventures to downtown. These efforts are particularly vital as businesses recover from pandemic-related disruptions.
Furthermore, DDC has focused on residential development, administering loan funds that have led to the creation of new housing units, thereby enhancing the living options available in the downtown area. Public safety has also been prioritized, with initiatives to bolster coordination with local law enforcement and improve community trust and safety.
Overall, DDC's collaboration with various stakeholders and its commitment to strategic planning not only stimulate investment but also enrich the cultural and social experience of downtown Louisville, making it a vibrant and welcoming environment for all.
This information is meant to be a general summary of Downtown Development Corporation. 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: $365
- Program Service Revenue: $1,223,206
- Gross Receipts: $1,849,862
Assets and Liabilities:
- Total Assets: $2,498,000
- Total Liabilities: $184,093
- Net Assets: $2,313,907
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LEASE REVENUE
Revenue
$739,590
MANAGEMENT FEE - LDMD
Revenue
$459,240
MANAGEMENT FEE - DHA
Revenue
$24,376
Organization Details
Founding Year
1988
Phone
(502) 584-6000Principal Officer
Rebecca Fleischaker
Main Address
315 GUTHRIE ST STE 300, LOUISVILLE, KY, 40202
Website
www.louisvilledowntown.orgNTEE Category
Code: S31Z - Community improvement
If you are a representative of Downtown Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.