Milwaukee Downtown Inc

What it reported doing in 2024

Economic development and community projects: the organization promotes downtown as the top destination for businesses to locate and/or expand through a wide variety of strategies and programs. Strategies include: co-leading the connecting mke downtown plan 2040, creating collateral and communication pieces such as the downtown area investment map, the hop streetcar investment opportunities guide, mke blueprint magazine, real results newsletter, skywalk map, and regular business spotlights to tell the downtown development story. Milwaukee downtown is a go-to resource for accurate market data that is used by developers, investors, businesses and the brokerage community. Through the ceo call program and ongoing outreach, staff gathers data from business executives about the positives and challenges of doing business in downtown milwaukee, which ultimately provides a point of direction on new and existing initiatives. In addition to working with city of milwaukee staff on incentive programs such as facade, white box, and signage grants, staff has successfully implemented its own incentive program to attract business downtown that was created in partnership with bank five nine named the milwaukee downtown business development loan pool. Staff also promotes the use of the downtown pace loan pool, better buildings challenge, and opportunity zones. Milwaukee downtown is a trustee of the kiva zip loan program and an active member of the state's connect communities program.milwaukee downtown is a strong advocate for economic development projects and programs that are consistent with the organization's strategic plan and other new programs that are consistent with the organization's mission. Milwaukee downtown staff also is placing added emphasis on supporting the nighttime economy and hospitality industries through public art, branding, and connectivity projects. Staff also maintains lists of property available for lease/sale, and proves to be a go-to resource for downtown economic development information. Staff also is leading several quality of life initiatives that aim to make milwaukee a destination to live, attracting talent that in turns, attracts businesses in search of talent. These initiatives include downtown's first dog park, aesthetic under freeway lighting & murals, and improvements to downtown's open spaces and parks.public art implementations - led the coordination and fundraising efforts for various murals to beautify the public realm with art.activation - initiated new projects to enliven downtown's sidewalks, alleys, and other public spaces to boost pedestrian traffic and customers to brick-and-mortar businesses.reimagine red arrow park - a multi-year, public-private partnership to enhance this centralized public space, and to foster civic life in in the heart of the community, 365 days a year. Programming included downtown ice cape-ade in february, big truck day in may, and heart(beats) of the city powered by mgic, lunchtime concerts and food truck series targeting the returning downtown workforce, and jack-o-lantern jubilee in october. Downtown dog park - a collaborative effort between multiple public sectors, including the Wisconsin department of transportation, the city of milwaukee, and historic third ward bid #2, to transform an empty parcel of land underneath the i-794 overpass, between the milwaukee river and plankinton avenue, into downtown's first dog park.

Financial Efficiency

• Mission deployment rate: 79.4%; rating input score 79
• Program expense ratio: 92.7%; rating input score 93
• Fundraising efficiency: $39.18 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

• Consistency checks: 86.7%; rating input score 87; 2nd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 99.2%; rating input score 99; 37th 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: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 15.3%; rating input score 71; 71st percentile among comparable filings
• Total-asset coverage ratio: 1.61; rating input score 54; 54th percentile among comparable filings
• Liabilities to assets ratio: 0.17; rating input score 48; 48th percentile among comparable filings
• Officer compensation ratio: 9.3%; rating input score 32; 32nd percentile among comparable filings

Growth

• Program expense growth: 5.3% per year; rating input score 100; 41st percentile among comparable filings
• Revenue growth: 8.7% per year; rating input score 100; 63rd percentile among comparable filings
• Asset growth: 15.4% per year; rating input score 100; 75th percentile among comparable filings