Troy Main Street

Nonprofit profile at a glance

EIN
311301818
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2010
Location
Troy, OH, USA
Phone
9373395455
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$213,888
Expenses
$195,576
Assets
$310,807
Liabilities
$0

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

Leadership & pay

13 people listed

Executive titles in this filing

  • DAVE DILBONE (PRESIDENT)

People named in this filing

  • DAVE DILBONE (PRESIDENT)
  • JUSTIN FLETCHER (DIRECTOR)
  • DAVID FONG (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

To provide for the continued economic and architectural soundness of the downtown area of the city of troy, Ohio, with a comprehensive revitalization strategy to stimulate economic development and to act as liaison between the downton businesses and local government. The mission of troy main street is to coordinate the efforts of all those dedicated to making downtown troy a better place to live, work, shop, celebrate, and invest.

What it reported doing in 2024

Troy main street continued its work to strengthen and enhance the economic vitality and visual appeal of downtown troy. The organization coordinated beautification projects including seasonal flowerpots, public art installations, and maintenance of placemaking features that improve the experience for residents and visitors. Staff worked closely with downtown businesses, property owners, and the city of troy to support storefront improvements, encourage investment, and address district needs. These efforts contributed to increased foot traffic, a more welcoming environment, and ongoing private-sector engagement in the downtown core. In 2024, troy main street produced a full calendar of community events designed to draw visitors, support local businesses, and strengthen civic pride. Major events included the grand illumination, taste of troy, hometown halloween, fridays on prouty concert series, donut jam, and numerous holiday activities. These events collectively attracted thousands of attendees and provided significant economic benefit to downtown merchants. The organization also executed marketing campaigns, business spotlights, and downtown promotional materials that encouraged shopping, dining, and engagement throughout the year. During 2024, troy main street delivered direct support services to downtown businesses through regular outreach, resource sharing, and individualized assistance. The organization provided guidance for business development, coordinated information on grants and incentives, assisted entrepreneurs, and served as a liaison between merchants, community partners, and the city of troy. Troy main street also facilitated collaborative initiatives that strengthened business retention and expansion, and advocated for downtown needs to ensure a healthy and sustainable commercial district.

Operating model

Revenue model
Donor-supported. 83% 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

SUPPORTED - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 60
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.9%; rating input score 92
  • Program expense ratio: 100%; rating input score 100
  • 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 8.6%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 1.59; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -9% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -4% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 91.9% of revenue deployed · 100% of spending went to programs
  • Governance: 12 of 12 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $196K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 11 filing years from 2013 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.