Overview
What is Soho Broadway District Management Association Inc?
Soho Broadway District Management Association Inc is a nonprofit organization situated in the heart of New York City, specifically at 594 Broadway, New York, 10012. Their primary mission is to bolster the prosperity and economic growth of a Business Improvement District (BID) within the city. To achieve this, they focus on maintaining clean streets, curbs, and facilitating garbage removal. In addition to this, they aim to create a distinctive, lively, and mixed-use district by enhancing maintenance and public safety, providing effective advocacy and administration, offering technical and professional services to its members, and implementing strategic capital improvements. The association employs a modest workforce of five individuals.
Official website here: www.sohobroadway.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star Rating
The Soho Broadway District Management Association Inc has achieved an impressive rating of 96%, signifying a strong commitment to accountability and financial health. This rating is derived entirely from the organization's performance in the Accountability & Finance beacon, indicating that they have demonstrated high standards in managing their resources effectively.
One of the key strengths highlighted by the evaluation is the composition of the board, which consists of 96% independent members, ensuring a lack of conflicts of interest. Additionally, the organization maintains robust financial oversight, as evidenced by their comprehensive audit and oversight practices and effective management of their liabilities, with a low ratio of 35.04%. The program expense ratio of 75.72% also reflects a commitment to channeling funds towards their mission-driven activities.
No significant limitations were noted in the evaluation, with all necessary policies and documentation being readily available on their website. This transparency further enhances their credibility and trustworthiness as a nonprofit organization. Overall, the Soho Broadway District Management Association is recognized for its strong governance and financial practices, fostering confidence among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Soho Broadway District Management Association Inc legitimate?
Soho Broadway District Management Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Soho Broadway District Management Association 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $183,865
Professional Fundraising Fees: $0
Other Salaries and Wages: $130,483
For more financial information, click here
Official website here: www.sohobroadway.org
What is the mission statement of Soho Broadway District Management Association Inc?
The Soho Broadway District Management Association Inc's mission is centered around promoting the vitality and economic growth of a Business Improvement District. Their goal is to establish a distinctive, lively, and mixed-use district, enhancing maintenance and public safety. They also provide effective advocacy and administration, technical and professional services for its members, and strategically invest in capital improvements. The association is dedicated to maintaining clean streets and curbs, as well as ensuring proper garbage removal.
Official website here: www.sohobroadway.org
Who is the CEO of Soho Broadway District Management Association Inc?
Mark Dicus is the President of Soho Broadway District Management Association Inc.
Official website here: www.sohobroadway.org
What is the revenue of Soho Broadway District Management Association Inc?
Soho Broadway District Management Association Inc's revenue in 2022 was $959,820.
Official website here: www.sohobroadway.org
Who are the executives of Soho Broadway District Management Association Inc and what are their salaries?
The average compensation at Soho Broadway District Management Association Inc during 2022 was $62,870. There are 5 employees and 25 volunteers at Soho Broadway District Management Association Inc.
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- Compensation: $142,008
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- Other: $41,451
Official website here: www.sohobroadway.org
Where can I find the form 990 for Soho Broadway District Management Association Inc?
Soho Broadway District Management Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sohobroadway.org
Learn more at the official website: www.sohobroadway.org
Mission Statement of Soho Broadway District Management Association Inc
Soho Broadway District Management Association Inc is committed to fostering a distinctive, vibrant, mixed-use district. Their mission includes enhancing maintenance and public safety, providing effective advocacy and administration, offering technical and professional services for its members, and executing strategic capital improvements. By doing so, the organization aims to promote the vitality and economic growth of a Business Improvement District located in New York City.
In essence, Soho Broadway District Management Association Inc works towards creating a cleaner environment by maintaining the streets, curbs, and removing garbage. This commitment to cleanliness is a crucial part of their mission to promote a thriving district. Additionally, they offer advocacy services, providing a voice for their members in various matters related to the district's growth and development. Furthermore, the organization offers technical and professional services, ensuring the success and well-being of its members. Their mission is to create a district that is not only economically prosperous but also safe and well-maintained for its residents and businesses.
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Impact
July, 2024
Soho Broadway District Management Association Inc plays a crucial role in promoting the vitality and economic growth of a business improvement district located in NYC. Their focus on maintaining clean streets, curbs, and garbage removal contributes to creating a more attractive and welcoming environment for businesses and residents in the area. By fostering a unique, vibrant, mixed-use district with enhanced maintenance and public safety measures, this organization actively works towards improving the overall quality of life in the community. Their advocacy, technical services, and strategic capital improvements demonstrate a commitment to enhancing the district's infrastructure and promoting sustainable development. Through their efforts, Soho Broadway District Management Association Inc positively impacts the local community and contributes to its continuous improvement.
This information is meant to be a general summary of Soho Broadway District Management Association 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 2022.
- Investment Income: $70
- Program Service Revenue: $900,000
- Gross Receipts: $959,820
Assets and Liabilities:
- Total Assets: $620,408
- Total Liabilities: $54,806
- Net Assets: $565,602
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ASSESSMENT REVENUE
Revenue
$900,000
Organization Details
Founding Year
2014
Phone
(212) 390-1131Principal Officer
Mark Dicus
Main Address
594 BROADWAY 1107, NEW YORK, NY, 10012
Website
www.sohobroadway.orgNTEE Category
Code: S30 - Community improvement
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