Downtown Danville Association Dba River District Association

Nonprofit profile at a glance

EIN
542023394
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016, Form 990-N 2007
Location
Danville, VA, USA
Phone
4347914470
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$511,549
Expenses
$638,650
Assets
$752,547
Liabilities
$57,674

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

Leadership & pay

11 people listed

Executive titles in this filing

  • EMMA SELLERS (PRESIDENT)
  • KUNAL ATEL (VICE-PRESIDENT)
  • RACHEL COVINGTON (PAST PRESIDENT)
  • DIANA SCHWARTZ (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DIANA SCHWARTZ (EXECUTIVE DIRECTOR): $106,987 total reported compensation

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

Overview

Mission

To ensure the long term viability of danville's river district as a center of business and civic life, and a source of community pride. Rda carries out this mission through activities to attract and retain businesses, residents and visitors while promoting danville's high quality of life, preserving its historic and cultural assets, and capitalizing on its unique location along the dan river. Rda works in partnership with the city of danville and other stakeholders to reexamine this vision as the area changes and achieves important milestones.

What it reported doing in 2024

Promote commercial growth in the downtown area of the city

Operating model

Revenue model
Donor-supported. 64% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 86
  • Accountability: 90
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.5%; rating input score 95
  • Program expense ratio: 75.7%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -24.8%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 1.18; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 16.8%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 17% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 17% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 18.8% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 94.5% of revenue deployed · 75.7% of spending went to programs
  • Governance: 14 of 14 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $483K in reported program spending
  • Leadership: top reported pay $107K · 11 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Sustainability: Operating margin scored 7/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.