Overview
What is Old Town Merchants & Residents Assoc?
Old Town Merchants & Residents Assoc is a nonprofit organization situated in the heart of Chicago, Illinois, specifically at 1543 North Wells Street, Lower Level. Their main objective is to promote and stimulate growth in the Old Town area of the city. They achieve this through various initiatives, including organizing an annual art fair as part of Chicago's street fair program. This event aims to foster interaction among different ethnic and economic groups, ultimately benefiting local businesses. With a team of three dedicated individuals, Old Town Merchants & Residents Assoc contributes to the vibrancy and prosperity of their community.
Is Old Town Merchants & Residents Assoc legitimate?
Old Town Merchants & Residents Assoc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Old Town Merchants & Residents Assoc 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:
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Other Salaries and Wages: $83,000
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What is the mission statement of Old Town Merchants & Residents Assoc?
The Old Town Merchants & Residents Association's mission is centered around promoting and fostering growth in a specific area. Specifically, their focus is on enhancing the Old Town district in Chicago, Illinois. They achieve this by organizing events like the annual art fair, which not only brings together various ethnic and economic groups but also creates a conducive environment for businesses in the area. The art fair, as part of the city's street fair program, plays a significant role in their mission.
What is the revenue of Old Town Merchants & Residents Assoc?
Old Town Merchants & Residents Assoc's revenue in 2023 was $658,009.
Who are the executives of Old Town Merchants & Residents Assoc and what are their salaries?
The average compensation at Old Town Merchants & Residents Assoc during 2023 was $83,000. There is 1 employee and 25 volunteers at Old Town Merchants & Residents Assoc.
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Where can I find the form 990 for Old Town Merchants & Residents Assoc?
Old Town Merchants & Residents Assoc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Old Town Merchants & Residents Assoc
The Old Town Merchants & Residents Association, in its mission, is dedicated to fostering the development and growth of the Old Town area in Chicago. This mission is achieved through various initiatives, one of which is the annual art fair held in the Old Town area as part of the city's street fair program. This event serves to bring together people from diverse ethnic and economic backgrounds, thereby creating a conducive environment for business interests in the area. The fair encourages interaction and fosters a sense of unity, contributing to the overall growth and promotion of the Old Town area.
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Impact
October, 2024
Old Town Merchants & Residents Association significantly enhances the vibrancy and cohesiveness of the Old Town area in Chicago, IL. One of its key initiatives is the annual Art Fair, which is part of the city's street fair program. This event fosters a sense of community by bringing together diverse ethnic and economic groups, encouraging interaction and collaboration among residents and visitors alike.
By creating a favorable climate for business interests, the Association not only supports local merchants but also stimulates economic growth in the neighborhood. This promotion and growth initiative cultivates an appealing environment that attracts visitors, strengthens community ties, and enhances the overall appeal of Old Town as a cultural and commercial hub.
This information is meant to be a general summary of Old Town Merchants & Residents Assoc. 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.
- Investment Income: $1,982
- Program Service Revenue: $368,472
- Gross Receipts: $658,009
Assets and Liabilities:
- Total Assets: $354,369
- Total Liabilities: $96,591
- Net Assets: $257,778
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ANNUAL ART FAIR
Revenue
$366,458
SPECIAL EVENTS
Revenue
$2,014
Organization Details
Founding Year
1971
Principal Officer
Pam Farley
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