Simsbury Main Street Partnership Inc

Nonprofit profile at a glance

EIN
061447125
IRS 990-EZ coverage
2018–2023
Forms available
Form 990-EZ 2023
Location
Simsbury, CT, USA
Phone
8606518577
Rating
37
Verdict
REVIEW
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$99,640
Expenses
$82,658
Assets
$72,266

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • RICHARD J CORREIA (PRESIDENT)

People named in this filing

  • RICHARD J CORREIA (PRESIDENT)
  • BRYAN DEVOE (VICE PRESIDE)
  • MELISSA BRETT (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Simsbury main street partnership is a not-for-profit organization devoted to the continued success of our main street simsbury. We focus on progressive economic development and historic preservation, so that simsburys assets and legacy can be leveraged for our prosperity.

What it reported doing in 2023

Campaign for small business saturday to attract customers to support small local business in simsbury. Campaign includes reaching out to over 11,000 / mailers.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
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

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 2
  • Transparency & Controls: 82
  • Sustainability: 46
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 2.2%; rating input score 2
  • Program expense ratio: 2.6%; rating input score 3

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 17%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 0.87; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 72.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -38.2% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 51st percentile among comparable filings
  • Asset growth: 12% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 2.2% of revenue deployed · 2.6% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $2K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2018 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 2/100.
  • High — Financial Efficiency: Program expense ratio scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.