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The Down Town Association

Not tax-deductible

New York, NY501(c)(7)Since 1859EIN 13-5035020

The association was created to furnish its members engaged in commercial and professional pursuits in the city of new york, facilities for social intercourse, and such accommodations as required during the intervals of business while at a distance from their residences, also the advancement of literature and art by establishing and maintaining a library, reading room, and gallery of art.

Run by 15 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $107K a year · 7% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$27.8M
75% of total assets
Worth a look: liabilities are 75% of assets; over 65%.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$454K
-22% vs prior year
Spent
$1.5M
Net assets
$9.1M
By yearFY2020–FY2025
Revenue
$454K
FY2025▼ -22%
Revenue by fiscal year
FY2020$485K
FY2021$514K
FY2022$0
FY2023$6.9M
FY2024$585K
FY2025$454K
Expenses
$1.5M
FY2025▲ +8%
Expenses by fiscal year
FY2020$5.4M
FY2021$84K
FY2022$14K
FY2023$1.3M
FY2024$1.4M
FY2025$1.5M
Net assets
$9.1M
FY2025▼ -10%
Net assets by fiscal year
FY2020$4.8M
FY2021$5.3M
FY2022$5.2M
FY2023$10.9M
FY2024$10.1M
FY2025$9.1M

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1918.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Kyle Johnson
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Sarah Solomon
Secretary
$0Pt VII · Sec A
Mark R Altherr
Assistant Treasurer
$0Pt VII · Sec A
Timothy L Thompson
Assistant Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Down Town Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers members social gathering spaces in New York City.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2025.
01

To furnish its members with facilities for social intercourse and advancement of literature and art.

Pt IX · col B

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By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$454K
Ln 12
Fees for servicesLn 2g$436K
Other incomeLn 4–11$17K
Money outPt IX
$1.5M
Ln 25
Owns and owesPt X
$9.1M
net assets · Ln 32
Cash and savingsLn 1–2$7K
Total assetsLn 16$36.8M
LiabilitiesLn 26$27.8M
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$436K
Other incomeLn 4–11$17K
Total revenueLn 12$454K
Assets in detailPt X, end of year
SavingsLn 2$7K
Cash and savings togetherLn 1–2$7K
Land, buildings, equipmentLn 10c$25.2M
Other assetsLn 15$11.6M
Total assetsLn 16$36.8M
LiabilitiesLn 26$27.8M
Net assetsLn 32$9.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$11K$7K
Land, buildings, equipmentLn 10c$25.9M$25.2M
Total assetsLn 16$38.0M$36.8M
LiabilitiesLn 26$27.9M$27.8M
Net assetsLn 32$10.1M$9.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$7K
Accounting feesLn 11c$27K
Other fees for servicesLn 11g$93K
Advertising and promotionLn 12$3K
Office expensesLn 13$13K
OccupancyLn 16$177K
Depreciation, depletion and amortizationLn 22$1.0M
InsuranceLn 23$50K
Other expenses (24a–d)Ln 24$96K
Total functional expensesLn 25$1.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $454K$1.5M−$1.0M$9.1M 990 PDF
FY2024 $585K$1.4M−$790K$10.1M 990 PDF
FY2023 $6.9M$1.3M$5.6M$10.9M 990 PDF
FY2022 $0$14K−$14K$5.2M 990 PDF
FY2021 $514K$84K$430K$5.3M 990 PDF
FY2020 $485K$5.4M−$4.9M$4.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $453,573 across 4 lines filed
Lines not itemized here account for $13,157 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $436,466$436,466
VIII-6 Net rental income or loss$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,950$3,950
VIII-12 Total revenueRelated to mission $453,573 · Unrelated business $0 · Excluded from tax $0$453,573
Part IX · Statement of functional expenses $1,491,091 across 9 lines filed
IX-11b Legal fees$6,575
IX-11c Accounting fees$26,946
IX-11g Other fees for services$92,804
IX-12 Advertising and promotion$3,024
IX-13 Office expenses$12,744
IX-16 Occupancy$177,367
IX-22 Depreciation, depletion and amortization$1,025,311
IX-23 Insurance$50,361
IX-24 Other expenses (24a–d)$95,959
IX-25 Total functional expenses$1,491,091
Part X · Balance sheet $36,809,265 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $10,951$7,287
X-4 Accounts receivableStart of year $73,100$5,732
X-8 Inventories for sale or useStart of year $6,010$5,695
X-9 Prepaid expenses and deferred chargesStart of year $11,713$11,713
X-10c Land, buildings and equipment, netStart of year $25,906,862$25,175,352
X-15 Other assetsStart of year $11,942,310$11,603,486
X-16 Total assetsStart of year $37,950,946$36,809,265
X-17 Accounts payable and accrued expensesStart of year $12,544$14,791
X-25 Other liabilitiesStart of year $27,839,932$27,743,334
X-26 Total liabilitiesStart of year $27,862,288$27,758,125
X-27 Net assets without donor restrictionsStart of year $10,088,658$9,051,140
X-32 Total net assets or fund balancesStart of year $10,088,658$9,051,140
X-33 Total liabilities and net assetsStart of year $37,950,946$36,809,265
Part XI · Reconciliation of net assets $9,051,140 net assets at year end
XI-1 Total revenue$453,573
XI-2 Total expenses$1,491,091
XI-3 Revenue less expenses−$1,037,518
XI-4 Net assets at start of year$10,088,658
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$9,051,140

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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