Downtown Phoenix INC FY2021 filing

Phoenix, AZUnknown exempt organization EIN 46-2139928Revenue $1.0M in FY2021

On file with the IRSdtphx.org1 East Washington Suite 230 · Phoenix, AZ

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Support the economic & cultural vitality of the Phoenix Downtown community & surrounding areas

$191K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $187K a year · 25% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Pay to officers and key staff
$191K
to officers and key staff · 37% of spending
Concern: pay to officers and key staff is 37% of spending; over 30%.
Pt VII · Sec A
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$688K
42% of total assets
Looks good: liabilities are 42% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
+89% vs prior year
Spent
$520K
Net assets
$939K
By yearFY2020–FY2022
Revenue
$1.0M
FY2021▲ +89%
Tap a bar for its year
Revenue by fiscal year
FY2020$550K
FY2021$1.0M
FY2022$672K
Expenses
$520K
FY2021▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$470K
FY2021$520K
FY2022$1.8M
Net assets
$939K
FY2021▲ +152%
Tap a bar for its year
Net assets by fiscal year
FY2020$373K
FY2021$939K
FY2022$0

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Who runs it and what they're paid

19 people listed on the 990; $191K paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$190,733Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2022FY2021FY2020
Devney Majerle$190,733——
Devney Preuss—$190,733$167,556
Jessyca Leach——$69,611

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Boosts downtown Phoenix's economy and culture.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

In addition to providing leadership, coordination and operational efficiencies, downtown phoenix inc. (dpi) will maximize the strong points of existing downtown oriented not-for-profits and assist in the creation of others as deemed necessary to further its objectives.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $69K · 2022–2022

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.0M
Ln 12
Gifts and grantsLn 1h$926K
Fees for servicesLn 2g$114K
Money outPt IX
$520K
Ln 25
Owns and owesPt X
$939K
net assets · Ln 32
Cash and savingsLn 1–2$30K
Total assetsLn 16$1.6M
LiabilitiesLn 26$688K
PeoplePt VI, VII
19
listed · VII A
PaidVII A1
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$926K
Government grantsLn 1e$418K
Fees for servicesLn 2g$114K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$30K
Cash and savings togetherLn 1–2$30K
Other assetsLn 15$473K
Total assetsLn 16$1.6M
LiabilitiesLn 26$688K
Net assetsLn 32$939K
OperationsPt I, VI
EmployeesI 569
VolunteersI 618
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$251K$30K
Total assetsLn 16$951K$1.6M
LiabilitiesLn 26$578K$688K
Net assetsLn 32$373K$939K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$205K
Other salaries and wagesLn 7$118K
Pension plan contributionsLn 8$14K
Other employee benefitsLn 9$78K
Payroll taxesLn 10$27K
Legal feesLn 11b$10K
Accounting feesLn 11c$3K
Office expensesLn 13$5K
Information technologyLn 14$1K
OccupancyLn 16$22K
InsuranceLn 23$5K
Other expenses (24a–d)Ln 24$30K
Total functional expensesLn 25$520K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $672K$1.8M−$1.2M$0 990 PDF
FY2021 Viewing $1.0M$520K$520K$939K 990 PDF
FY2020 $550K$470K$81K$373K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $1,039,975 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $450,500$926,226
I-9 Program service revenuePrior year $100,000$113,749
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $550,500$1,039,975
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $296,286$442,849
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $173,358$76,797
I-18 Total expensesPrior year $469,644$519,646
I-19 Revenue less expensesPrior year $80,856$520,329
Part VI · Governance 18 of 18 board members independent, 1 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,039,975 across 5 lines filed
VIII-1e Government grants$417,838
VIII-1f All other contributions, gifts and grants$508,388
VIII-1h Total contributions, gifts and grants$926,226
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $113,749$113,749
VIII-12 Total revenueRelated to mission $113,749 · Unrelated business $0 · Excluded from tax $0$1,039,975
Part IX · Statement of functional expenses $519,646 across 12 lines filed
IX-5 Pay of current officers, directors and key staff$205,270
IX-7 Other salaries and wages$117,739
IX-8 Pension plan contributions$14,061
IX-9 Other employee benefits$78,383
IX-10 Payroll taxes$27,396
IX-11b Legal fees$10,269
IX-11c Accounting fees$3,000
IX-13 Office expenses$5,190
IX-14 Information technology$1,200
IX-16 Occupancy$22,236
IX-23 Insurance$5,369
IX-24 Other expenses (24a–d)$29,533
IX-25 Total functional expenses$519,646
Part X · Balance sheet $1,627,305 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $251,423$30,259
X-3 Pledges and grants receivableStart of year $226,500$263,750
X-4 Accounts receivableStart of year $399,881$817,383
X-9 Prepaid expenses and deferred chargesStart of year $15,301$42,643
X-15 Other assetsStart of year $58,173$473,270
X-16 Total assetsStart of year $951,278$1,627,305
X-17 Accounts payable and accrued expensesStart of year $24,575$8,948
X-25 Other liabilitiesStart of year $503,520$679,457
X-26 Total liabilitiesStart of year $578,095$688,405
X-27 Net assets without donor restrictionsStart of year $373,183$938,900
X-32 Total net assets or fund balancesStart of year $373,183$938,900
X-33 Total liabilities and net assetsStart of year $951,278$1,627,305
Part XI · Reconciliation of net assets $938,900 net assets at year end
XI-1 Total revenue$1,039,975
XI-2 Total expenses$519,646
XI-3 Revenue less expenses$520,329
XI-4 Net assets at start of year$373,183
XI-8 Prior period adjustments$45,388
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$938,900

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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