Harrisonburg Downtown Renaissance

Nonprofit profile at a glance

EIN
582675553
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Harrisonburg, VA, USA
Phone
5404328922
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$821,146
Expenses
$879,834
Assets
$1,134,088
Liabilities
$150,810

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

Leadership & pay

20 people listed

Executive titles in this filing

  • BRAD COHEN (PRESIDENT)
  • JAIREMY DROOGER (VICE PRESIDENT)
  • ANDREA DONO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ANDREA DONO (EXECUTIVE DIRECTOR): $89,189 total reported compensation

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

Overview

Mission

Hdr is a designated main street america community and received its annual accreditation from the Virginia dept of housing and community development and main street america. The nonprofit is a community-based economic development organization that is focused on the on-going revitalization of historic downtown harrisonburg (va). Its mission is to build downtown harrisonburg as a destination where small businesses thrive and people enjoy memorable experiences. It meets its mission with small business assistance programs, community festivals & events, destination marketing, placemaking and beautification projects, and promoting historic preservation. Since its inception in 2003, there has been over $150m in private investment in downtown, over $26m in public investment, over 122,000 volunteer hours contributed to our work, $61m in historic tax credit projects. Its work brings the community together for community cohesiion and pride, boosts the tax base, attracts investment and customers.

What it reported doing in 2024

Hdr produces free public events to build community, enhance quality of life for residents, attract tourists, boost foot traffic and exposure for small businesses, generate tax revenue and sales at businesses, and strengthen community pride and cohesion through togetherness. Annual events include downtown happy hour, a charcueterie board workshop, bestweekendever, independence day fireworks, block party in the burg, skeleton fest, veterans parade, and winter wonderfest. We also hosted 10 free community concerts thanks to a $30,000 grant from the levitt foundation and sponsor support. The first concert in july was paired with independence day fireworks. We strive to make our events welcoming to all by selecting bands that represent diverse musical genres and cultures and by translating our event posters into multiple languages. We hosted our first low-sensory programming during skeletonfest with special trick or treating and activities in calm spaces so all families could attend. Bestweekendever saw more than 4000 additional attendees than in past years and featured a downtown wide putt putt course. Our outdoor street festivals encouraged participants to circulate throughout the downtown to discover businesses to support during the event and to visit on return visits and to enjoy free entertainment in the heart of the community. Total attendance for hdr's 25 events this year exceeded 97,000 people. Our events were supported by volunteers who contributed over 7,200 hours, which has a market value of $241,000.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 79% for direct work, and 21% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 68
  • Accountability: 95
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.2%; rating input score 73
  • Program expense ratio: 67.8%; rating input score 68
  • Fundraising efficiency: $5.53 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 88.2%; rating input score 88; 3rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 24.5%; rating input score 24; 26th 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 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.1%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 1.29; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 10.1%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 16.1% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 73.2% of revenue deployed · 67.8% of spending went to programs
  • Governance: 19 of 19 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $596K in reported program spending
  • Leadership: top reported pay $89K · 20 people listed
  • Consistency: 25 of 27 current checks pass · 2 findings to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 9 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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 — Transparency & Controls: Grant itemization coverage scored 24/100.
  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • High — Sustainability: Operating margin scored 21/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.