Overview
What is Downtown Somerville Alliance Inc?
The Downtown Somerville Alliance Inc, situated in Somerville, New Jersey, serves as the District Management Corporation for the designated Special Improvement district. Their primary focus is on fostering a balanced and progressive economic development in the downtown area, while offering marketing and advertising services to the district. They also invest in infrastructure and beautification projects, collaborating with historians and environmentalists to preserve and showcase the arts, culture, and history of the region. The organization's mission lies in promoting Downtown Somerville as a vibrant hub for both residents and visitors, encompassing commerce, culture, and community life. With a team of just two dedicated individuals, they work tirelessly to recruit and retain businesses that align with the area's strategic and master plans.
Official website here: www.downtownsomerville.com/
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
Downtown Somerville Alliance Inc. has received a two-star rating from Charity Navigator, indicating a need for improvement with an overall score of 69%. The nonprofit demonstrates strong accountability in several areas, such as having a fully independent board and a solid audit of financial statements, which are crucial for trust and transparency.
However, the organization faces significant limitations, particularly in governance practices, including the absence of critical policies like conflict of interest and whistleblower policies. Additionally, the lack of transparency is reflected in missing financial documents on its website, along with a concerning liabilities to assets ratio of 315.35%, which suggests potential financial instability.
Despite these issues, the Alliance effectively allocates a high percentage of its budget (92.64%) toward program expenses, indicating a focus on its mission. Improvements in governance and financial transparency could enhance its credibility and effectiveness in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Downtown Somerville Alliance Inc legitimate?
Downtown Somerville Alliance Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Downtown Somerville Alliance 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $132,676
For more financial information, click here
Official website here: www.downtownsomerville.com/
What is the mission statement of Downtown Somerville Alliance Inc?
The Downtown Somerville Alliance Inc serves to position Downtown Somerville as a vibrant hub for commerce, culture, and community life, catering to both local residents and visitors alike. Acting as the District Management Corporation for a designated Special Improvement district, the organization fosters balanced and forward-thinking economic development within the district. It offers marketing and advertising services to boost the district's appeal, invests in infrastructure and beautification projects to enhance its appeal, and collaborates with historians and environmentalists to preserve and celebrate the area's arts, culture, and history. The Alliance's primary focus lies in attracting and retaining businesses that align with the strategic and master plans guiding the district's development.
Official website here: www.downtownsomerville.com/
Who is the CEO of Downtown Somerville Alliance Inc?
Natalie Pineiro is the Chairperson of Downtown Somerville Alliance Inc.
Official website here: www.downtownsomerville.com/
What is the revenue of Downtown Somerville Alliance Inc?
Downtown Somerville Alliance Inc's revenue in 2022 was $837,571.
Official website here: www.downtownsomerville.com/
Who are the executives of Downtown Somerville Alliance Inc and what are their salaries?
The average compensation at Downtown Somerville Alliance Inc during 2022 was $66,338. There are 2 employees and 9 volunteers at Downtown Somerville Alliance Inc.
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- Compensation: $94,000
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Official website here: www.downtownsomerville.com/
Where can I find the form 990 for Downtown Somerville Alliance Inc?
Downtown Somerville Alliance Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.downtownsomerville.com/
Learn more at the official website: www.downtownsomerville.com/
Mission Statement of Downtown Somerville Alliance Inc
The Downtown Somerville Alliance Inc, acting as the District Management Corporation for the designated Special Improvement district, has a mission to elevate Downtown Somerville as a thriving hub of commerce, culture, and community life. This nonprofit organization strives to foster balanced and progressive economic development within the district. By providing marketing and advertising services, the Alliance aims to attract businesses that align with the strategic and master plans governing the area's development.
In addition to its economic development efforts, the Downtown Somerville Alliance Inc also takes on the responsibility of coordinating and funding infrastructure and beautification projects. This includes collaborating with historians and environmentalists, ensuring the preservation and promotion of the district's rich arts, culture, and history. By maintaining and showcasing these aspects, the Alliance contributes to the overall appeal and vibrancy of Downtown Somerville, making it an attractive destination for both residents and visitors alike.
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Impact
July, 2024
The impact of the Downtown Somerville Alliance Inc is evident in the vibrant and thriving downtown area of Somerville, NJ. By promoting downtown Somerville as the heart of commerce, culture, and community life, the organization has played a crucial role in attracting residents and visitors alike to the area. Through their efforts in economic development, marketing, infrastructure projects, beautification, and collaboration with historians and environmentalists, the Downtown Somerville Alliance has helped maintain and promote the arts, culture, and history of the region. Additionally, their focus on recruiting and retaining businesses that align with strategic plans has contributed to the overall growth and sustainability of the special improvement district. Overall, the Downtown Somerville Alliance Inc has significantly enhanced the quality of life for those in Somerville and has fostered a sense of community improvement in the area.
This information is meant to be a general summary of Downtown Somerville Alliance 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: $197
- Gross Receipts: $837,571
Assets and Liabilities:
- Total Assets: $54,000
- Total Liabilities: $170,293
- Net Assets: -$116,293
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Organization Details
Founding Year
1988
Phone
(908) 524-0104Principal Officer
Natalie Pineiro
Main Address
50 Division Street, Somerville, NJ, 08876
Website
www.downtownsomerville.com/NTEE Category
Code: S31 - Community improvement
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