Main Street Mobile Inc

Nonprofit profile at a glance

EIN
631072660
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2018
Location
Mobile, AL, USA
Phone
2514348498
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$204,515
Expenses
$182,046
Assets
$850,402
Liabilities
$840

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

Leadership & pay

29 people listed

Executive titles in this filing

  • FRED RENDFREY (PRES & CEO)

People named in this filing

  • FRED RENDFREY (PRES & CEO)
  • MATT LEMOND (IMMEDIATE PA)
  • STEVEN MCMAHON (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

Promote development of downtown mobile, al

What it reported doing in 2024

The aesthetic and functional improvements program serves the entire population of mobile county (594,000) as well as the visitors to the downtown area (3mm annually) by making improvements to the historic downtown core that enhance the neighborhood's creative and artistic appeal. Additionally, the program funds improvements that make downtown more physically appealing and safer for residents and visitors alike. Recent projects include the funding of major public art installations, the installation of strategically placed bicycle racks, the facilitation of residential development in a transitional downtown neighborhood, and the creation of plans to improve the downtown street grid.

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 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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.6%; rating input score 85
  • Program expense ratio: 92.5%; rating input score 93
  • Fundraising efficiency: Limited

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: Limited
  • 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: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 11%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 4.67; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 12.1% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 9.9% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 84.6% of revenue deployed · 92.5% of spending went to programs
  • Governance: 28 of 28 board members independent · 4 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $168K in reported program spending
  • Leadership: top reported pay $0 · 29 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.