South Street Downtown Holdings Inc

Overview

Mission

The Corporation is organized for the exclusive purpose of acquiring, holding title to, managing and leasing real property, collecting the income from real property and remitting the entire amount thereof, less expenses, to its shareholders, each of whom must be an organization described in Section 501(c)(25)(c) of the Code, and incurring acquisition indebtedness using the real property as collateral, and executing any mortgage, note, contract or obligation necessary or convenient to carry out the foregoing.

What it reported doing in 2024

The organization has been organized for the exclusive purpose of acquiring real property, holding title to and collecting income from such property, and remitting the entire amount of income from such property (less expenses) to Trustees of Dartmouth College.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

Nonprofit profile at a glance

EIN
020518373
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Hanover, NH, USA
Phone
6036463011
Rating confidence
Limited

The verdict

- This form does not report enough financial and governance detail to rate the organization. That is normal for this form and is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 64
  • Accountability: 23
  • Sustainability: 77
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 46.1%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 76.5; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 98.7%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.4% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: -2.5% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 6 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.3M · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 9 of 9 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 13 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 4 filed related-organization links
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

7 people listed

Highest reported compensation

  • Jessica Jones (Director): $1,341,419 total reported compensation
  • Michael R Sullivan (Director): $1,084,156 total reported compensation
  • Joshua Keniston (President): $729,018 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.