Louisa Downtown Development Corpora

Nonprofit profile at a glance

EIN
542148881
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Louisa, VA, USA
Phone
5409672200
Rating
90
Verdict
STRONG
Rating confidence
Standard
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$419,093
Expenses
$416,960
Assets
$185,457
Liabilities
$864

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Greg Schumacher (Vice President)
  • Stuart Dukeman (President)

People named in this filing

  • Jennifer Purcell (Secretary)
  • Jo Griffith (Director)
  • LaVahn Hoh (Director)

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

Preserve historic properties and provide and promote appreciation for the arts and culture in the community.

What it reported doing in 2024

The organization is raising money to continue to manage an historic building in the Town of Louisa which is being used as a community arts center. Art, musical, educational and other cultural programs are offered to the community, including a mobile art center to bring art to children.

Operating model

Revenue model
Grant-funded. 98% of the money available for current operations came from government grants.
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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 40
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.2%; rating input score 92
  • Program expense ratio: 92.6%; rating input score 93
  • Fundraising efficiency: $47.19 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.5%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: -11.9% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 92.2% of revenue deployed · 92.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $386K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Sustainability: Operating margin scored 41/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.