Downtown Mobile District Management Corporation

Nonprofit profile at a glance

EIN
203052636
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Mobile, AL, USA
Phone
2514348498
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$2,315,031
Expenses
$2,104,045
Assets
$1,205,098
Liabilities
$100,673

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

Leadership & pay

18 people listed

Executive titles in this filing

  • FRED RENDFREY (PRES & CEO)

Highest reported compensation

  • FRED RENDFREY (PRES & CEO): $137,120 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 insure the vitality of the business, residential and arts district in downtown mobile, al. To enhance and maintain the property values in downtown while retaining businesses and attracting new business investment to downtown mobile.

What it reported doing in 2024

The communication and marketing program serves a metropolitan area of approximately 594,000 residents and a downtown visitor domain that receives approximately 3 million visitors annually by providing them with up-to-date information on public events, products and services available, and business opportunities available throughout the downtown mobile business improvement district. This program also creates collateral material used to recruit residents and businesses. Communications and marketing also coordinates events and provides consultation and logistical assistance for other organizations planning events.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
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. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.2%; rating input score 78
  • Program expense ratio: 88.2%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • 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: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: 9.1%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 0.57; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 62; 62nd percentile among comparable filings
  • Officer compensation ratio: 6.5%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 78.2% of revenue deployed · 88.2% of spending went to programs
  • Governance: 17 of 17 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.9M in reported program spending
  • Leadership: top reported pay $137K · 18 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 16 filing years from 2009 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.