District Management Assoc Downtown Troy Business Improvement Dist Inc

Nonprofit profile at a glance

EIN
273638583
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Troy, NY, USA
Phone
5182797997
Rating
85
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$310,114
Expenses
$412,265
Assets
$45,271
Liabilities
$9,281

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • SARAH CACIOLA (PRESIDENT)

Highest reported compensation

  • OLIVIA CLEMENTE (EXECUTIVE DI): $80,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2024

The bid hosts a variety of events througout the year that bring thousands of people to downtown troy. From the rockin' on the river summer concert series to the monthly troy night out art and culture event. The bid organizes and executes exciting quality events that draw people to troy's downtown with the prospect that the crowds will stay or return to patronize local businesses. The bid has also established several programs all aimed at marketing downtown troy including a downtown troy map with a listing of all member businesses and the student incentive program which targets the large student population.

Operating model

Revenue model
Earned-program. 67% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 97% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 100
  • Accountability: 84
  • Sustainability: 11
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 80.2%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -32.9%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.11; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 19.4%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 15.5% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 9.8% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 80.2% of spending went to programs
  • Governance: 18 of 18 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $330K in reported program spending
  • Leadership: top reported pay $80K · 19 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.