Downtown Chattanooga Business Improvement District Board

Analysis

Downtown Chattanooga Business Improvement District Board is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Downtown Chattanooga Business Improvement District Board reported income of $880k and spending of $1.0m, spending 117% of what it took in. Across the 4 years on record, from December 2020 to June 2023, income fell from $977k to $880k (-9.9%), an average of -3.4% a year. The sharpest change came in the year to June 2023, when income dropped by 18%. Over the whole period it spent 79% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Chattanooga Business Improvement District Board sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within TN. Charities of a similar size with the same main cause include Open Primaries Education Fund ($878k), Stonebridge Building Company ($880k) and Rotary Club 29 Foundation ($878k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $106k (10% of expenses). At year end it held assets of $838k against liabilities of $180k, net assets of $658k. It reported 1 employees.