Historic Third Ward Association Inc
Nonprofit profile at a glance
- EIN
- 391460281
- IRS 990 coverage
- 2015–2025
- Forms available
- Form 990 2025, Form 990-T 2025
- Location
- Milwaukee, WI, USA
- Phone
- 4142731173
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Urban, Community Economic Development
Reported finances
- Revenue
- $899,706
- Expenses
- $745,092
- Assets
- $701,536
- Liabilities
- $187,464
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- JOSEPH GOODE (PRESIDENT)
- NATHAN BERNSTEIN (VICE PRESIDENT)
Highest reported compensation
- JIM PLAISTED (EXECUTIVE DIR.): $144,530 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Non-profit neighborhood association
What it reported doing in 2025
Events to promote the area including, christmas in the ward, quartley gallery night & day, shop the ward, coffee break, gather and the art festival
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 98% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 65
- Transparency & Controls: 92
- Accountability: 95
- Sustainability: 49
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 60.2%; rating input score 60
- Program expense ratio: 72.5%; rating input score 72
- Fundraising efficiency: $29.28 raised per $1 spent on fundraising; rating input score 65; 65th percentile among comparable filings
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: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 17.2%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 0.94; rating input score 41; 41st percentile among comparable filings
- Liabilities to assets ratio: 0.27; rating input score 21; 21st percentile among comparable filings
- Officer compensation ratio: 19.4%; rating input score 17; 17th percentile among comparable filings
Growth
- Program expense growth: -7.6% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: -3.4% per year; rating input score 0; 5th percentile among comparable filings
- Asset growth: -6.3% per year; rating input score 0; 5th percentile among comparable filings
Details
- Where the money goes: 60.2% of revenue deployed · 72.5% of spending went to programs
- Governance: 19 of 19 board members independent · 7 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $540K in reported program spending
- Leadership: top reported pay $145K · 20 people listed
- Consistency: 34 of 34 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 11 filing years from 2015 to 2025
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 1 filed related-organization link
- 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 — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: Document-retention policy not reported.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
- High — Sustainability: Officer compensation ratio scored 17/100.
- High — Sustainability: Liabilities to assets ratio scored 21/100.