Downtown Development Corporation

What it reported doing in 2024

Ddc engages in a variety of projects in collaboration with local and state government as well as private sector partners meant to increase the vitality and attractiveness of downtown. In 2024, these projects and initiatives included:- cityspots: conceptualized by leadership louisville's 2022 bingham fellows cohort, cityspots are the transformation of underutilized or forgotten public spaces into welcoming places of urban surprise where people meet, eat, play, or relax, helping to spread vibrancy across downtown. With the first two cityspots completed in 2023, this year ddc continued planning and design work for the third and fourth locations. Through the generosity of jpmorganchase and other sponsors, the third cityspot, near the corner of fourth and jefferson streets adjacent to the louisville visitors center, will bring the space to life with colorful wall and sidewalk murals, a public piano, additional seating, and flowers. The fourth cityspot, sponsored by pnc bank, will be located near the corner of fifth and main streets. This whimsical installation will feature larger-than-life swing sets for everyone to enjoy. Ribbon cuttings for these two new cityspots are planned for the summer of 2025.- management of the business improvement district (bid): through an agreement with the louisville downtown management district (ldmd), ddc administers and operates the downtown louisville bid that provides services supplemental to those provided by louisville metro government within the boundaries of the district. These services include daily cleaning of the downtown rights of way, safety and hospitality patrols, graffiti abatement, beautification programs, and public art projects. In 2024, the ambassador team removed approximately 134,600 pounds of litter and debris from the sidewalks and alleys, cleaned up more than 475 biohazardous materials, abated 1,137 graffiti tags and stickers, and recorded more than 121,000 hospitality interactions with guests and visitors. - clean collaborative: ddc continued its partnership with louisville metro's department of public works for the "clean collaborative" initiative to improve the community's cleanliness throughout the city. To address areas of downtown outside of the bid, public works extended its contract with ddc for a fourth year to provide ambassador cleaning services in often neglected parts of the greater downtown area. As part of this program, ddc's clean collaborative team of ambassadors cleared approximately 14,200 pounds of litter and debris in these locations.- beautification and art initiatives: ddc constantly focuses on expanding placemaking programs to improve the appearance and appeal of downtown's streets. A signature initiative in 2024 was the launch of a new series of temporary, rotating art installations in public spaces across our downtown core. Designed and created by austin-based lemonde studio, this program brings a series of interactive art exhibits to new locations every six to eight weeks. In preparation for a new public piano program to be unveiled in the spring of 2025, ddc partnered with two downtown schools, the j. Graham brown school and francis parker school of louisville, to have four donated pianos painted by their middle and high school students. Called "downtown tunes", these pianos will be placed in key outdoor locations and are designed to foster spontaneous musical expression, community connection, and creative placemaking. In 2024, ddc also introduced a new "butt bin" program to help reduce the number of cigarette butts discarded on downtown's streets and sidewalks while also recycling the filters for new uses. Businesses and property owners can request a free branded bin to be positioned in high-traffic smoking areas to encourage responsible disposal.- lighting programs: with planning and design completed by ddc, louisville metro government allocated $1.6 million for the installation of a new led lighting project underneath the i-65 overpasses on main

Financial Efficiency

• Mission deployment rate: 85.9%; rating input score 86
• Program expense ratio: 84.7%; rating input score 85
• Fundraising efficiency: $22.43 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings

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: 31.8%; rating input score 32; 27th 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: 7 of 7 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1.1%; rating input score 32; 32nd percentile among comparable filings
• Total-asset coverage ratio: 1.43; rating input score 54; 54th percentile among comparable filings
• Liabilities to assets ratio: 0.18; rating input score 33; 33rd percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 3.2% per year; rating input score 100; 33rd percentile among comparable filings
• Revenue growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings
• Asset growth: 4% per year; rating input score 100; 34th percentile among comparable filings