Downtown Dover Partnership Corporation

Nonprofit profile at a glance

EIN
510327371
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Dover, DE, USA
Phone
3026782407
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$9,750,931
Expenses
$1,145,635
Assets
$19,172,053
Liabilities
$3,379,755

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

Leadership & pay

15 people listed

Executive titles in this filing

  • TODD STONESIFER (PRESIDENT)

People named in this filing

  • JOHN VAN GORP (VICE PRESIDE)
  • TODD STONESIFER (PRESIDENT)
  • MAYOR ROBIN CHRISTIANSEN (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Develop the economic, cultural, and historic resources of downtown dover, to increase business/job opportunities and to develop the commercial and residential potential of the central downtown dover area.

What it reported doing in 2024

To improve the opportunities for job creation, and to broaden the tax base through the development/acquisition of commercial and residential real estate in the central dover area, and to maintain and restore the historic, architectural, and community qualities of the downtown area consistent with the goals of the national main street program. State and city funding offer economic assistance in the designated economic area for building code upgrades and development. An application process is in place to determine grant eligibility.

Operating model

Revenue model
Grant-funded. 94% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 51% for direct work, and 49% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 33
  • Transparency & Controls: 89
  • Accountability: 82
  • Sustainability: 90
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 12.9%; rating input score 13
  • Program expense ratio: 76.2%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.1%; rating input score 98; 34th 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 88.3%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 16.73; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 11.1% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 19% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 12.9% of revenue deployed · 76.2% of spending went to programs
  • Governance: 17 of 17 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $873K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 4 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: 2 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 13/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.