Main Street Square
Nonprofit profile at a glance
- EIN
- 273983146
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Rapid City, SD, USA
- Phone
- 6057188492
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community, Neighborhood Development
Reported finances
- Revenue
- $1,219,065
- Expenses
- $1,268,663
- Assets
- $1,674,835
- Liabilities
- $170,030
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- CALLIE MEYER (EXECUTIVE DIRECTOR(THROUGH MAY 2024))
- BROOK KAUFMAN (EXECUTIVE DIRECTOR (BEG.JUNE 2024))
Highest reported compensation
- BROOK KAUFMAN (EXECUTIVE DIRECTOR (BEG.JUNE 2024)): $232,178 total reported compensation
- CALLIE MEYER (EXECUTIVE DIRECTOR(THROUGH MAY 2024)): $34,388 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The organization operates rapid city town square (owned by the city of rapid city) in the heart of downtown in order to provide an active gathering place for the entire community, to invite increased pedestrian traffic downtown, and to strengthen the center of the community. This includes supporting, encouraging, advocating, and preserving the vitality and aesthetic beauty of the downtown rapid city business community.
What it reported doing in 2024
The organization manages the operations of main street square through an operating agreement with the city of rapid city. The organization leads efforts to redevelop and revitalize downtown rapid city through improving streetscapes, providing clean and safe programs, and promoting downtown businesses and events.
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
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 71
- Transparency & Controls: 61
- Accountability: 100
- Sustainability: 39
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 80.9%; rating input score 81
- Program expense ratio: 77.2%; rating input score 77
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- 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: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- 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: -4.1%; rating input score 26; 26th percentile among comparable filings
- Total-asset coverage ratio: 1.32; rating input score 52; 52nd percentile among comparable filings
- Liabilities to assets ratio: 0.1; rating input score 42; 42nd percentile among comparable filings
- Officer compensation ratio: 3.2%; rating input score 57; 57th percentile among comparable filings
Growth
- Program expense growth: -4.3% per year; rating input score 0; 8th percentile among comparable filings
- Revenue growth: -1.9% per year; rating input score 0; 9th percentile among comparable filings
- Asset growth: 6.9% per year; rating input score 100; 47th percentile among comparable filings
Details
- Where the money goes: 80.9% of revenue deployed · 77.2% of spending went to programs
- Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $979K in reported program spending
- Leadership: top reported pay $232K · 9 people listed · 0 of 6 pay-setting controls reported
- Consistency: 26 of 27 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 13 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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: Pay-setting controls scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 26/100.
- Review — Sustainability: Total-asset coverage ratio scored 52/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Moderate — Sustainability: Liabilities to assets ratio scored 42/100.
- Review — Sustainability: Officer compensation ratio scored 57/100.