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Jackson Downtown Development Corporation FY2022 filing

Tax-deductible

Jackson, TN501(c)(3) EIN 62-1383207Revenue $7K in FY2022

On file with the IRSdowntownjackson.com541 Wiley Parker Rd, 38305-2226 · Jackson, TNTax-exempt since Dec 1992Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the organization is to enhance the quality of life and economic prospects in Jackson, tennessee through design, promotion and facilitation of strategic investment in Downtown Jackson.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$80K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$80K
to officers and key staff · 580% of spending
Concern: pay to officers and key staff is 580% of spending; over 30%.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 8.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$395
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7K
-91% vs prior year
Spent
$14K
To programs
91%
Net assets
$38K
By yearFY2020–FY2025
Revenue
$7K
FY2022▼ -91%
Tap a bar for its year
Revenue by fiscal year
FY2020$88K
FY2022$7K
FY2024$171K
FY2025$187K
Net assets
$38K
FY2022▼ -45%
Tap a bar for its year
Net assets by fiscal year
FY2020$69K
FY2022$38K
FY2024$113K
FY2025$173K

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1992.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $13K Management & general 6% · $894 Fundraising 2% · $298

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990; $80K paid to officers and key staff.

Part VII, Section A · reportable compensation
$40,000Pt VII · Sec A
Beth Ann Simpson
Exec Directo
$40,000Pt VII · Sec A
Ben Ferguson
Treasurer
$0Pt VII · Sec A
Lisa Garner
Board Membr
$0Pt VII · Sec A
Ben Harris
Vice Preside
$0Pt VII · Sec A
Paul Taylor
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Ben Ferguson
Treasurer
$0Pt VII · Sec A
See Jackson Downtown Development Corporation 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

Improves downtown Jackson, Tennessee through strategic investment, design, and promotion.

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Provided by the organization

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1 program · $13K · in their own filed words · FY2022
01

Economic development and community enrichment

$13Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Amazonsmile FoundationFY2023$11
Total grants receivedfrom 1 funder$11

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$7K
Ln 12
Fees for servicesLn 2g$7K
Gifts and grantsLn 1h$300
Other incomeLn 4–11$114
Money outPt IX
$14K
Ln 25
Programscol B$13K
Managementcol C$894
Fundraisingcol D$298
Owns and owesPt X
$38K
net assets · Ln 32
Cash and savingsLn 1–2$10K
Total assetsLn 16$39K
LiabilitiesLn 26$395
PeoplePt VI, VII
18
listed · VII A
PaidVII A2
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$300
Fees for servicesLn 2g$7K
Other incomeLn 4–11$114
Total revenueLn 12$7K
Assets in detailPt X, end of year
CashLn 1$260
SavingsLn 2$10K
Cash and savings togetherLn 1–2$10K
Land, buildings, equipmentLn 10c$29K
Total assetsLn 16$39K
LiabilitiesLn 26$395
Net assetsLn 32$38K
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$12K$10K
Land, buildings, equipmentLn 10c$30K$29K
Total assetsLn 16$45K$39K
LiabilitiesLn 26$258$395
Net assetsLn 32$45K$38K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$4K$3K$529$176
Payroll taxesLn 10$270$215$41$14
Accounting feesLn 11c$979$783$147$49
Office expensesLn 13$951$951
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$1K$927$174$58
Other expenses (24a–d)Ln 24$6K$6K
All other expensesLn 24e$21$17$3$1
Total functional expensesLn 25$14K$13K$894$298

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $187K$173K 990 PDF
FY2024 $171K$113K 990 PDF
FY2023 Not on file
FY2022 Viewing $7K$14K−$6K$38K 990 PDF
FY2021 Not on file
FY2020 $88K$69K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $7,459 revenue, 12 lines filed
I-8 Contributions and grants$300
I-9 Program service revenue$7,045
I-10 Investment income$0
I-11 Other revenue$114
I-12 Total revenue$7,459
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$3,795
I-16a Professional fundraising fees$0
I-17 Other expenses$10,003
I-18 Total expenses$13,798
I-19 Revenue less expenses−$6,339
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $7,459 across 5 lines filed
VIII-1f All other contributions, gifts and grants$300
VIII-1h Total contributions, gifts and grants$300
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,045$7,045
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $114$114
VIII-12 Total revenueRelated to mission $7,159$7,459
Part IX · Statement of functional expenses $13,798 across 8 lines filed
IX-7 Other salaries and wagesPrograms $2,820 · Management $529 · Fundraising $176$3,525
IX-10 Payroll taxesPrograms $215 · Management $41 · Fundraising $14$270
IX-11c Accounting feesPrograms $783 · Management $147 · Fundraising $49$979
IX-13 Office expensesPrograms $951$951
IX-22 Depreciation, depletion and amortizationPrograms $1,154$1,154
IX-23 InsurancePrograms $927 · Management $174 · Fundraising $58$1,159
IX-24 Other expenses (24a–d)Programs $5,739$5,739
IX-24e All other expensesPrograms $17 · Management $3 · Fundraising $1$21
IX-25 Total functional expensesPrograms $12,606 · Management $894 · Fundraising $298$13,798
Part X · Balance sheet $38,746 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $11,824$260
X-2 Savings and temporary cash investments$9,597
X-10c Land, buildings and equipment, netStart of year $30,042$28,889
X-16 Total assetsStart of year $44,948$38,746
X-25 Other liabilitiesStart of year $258$395
X-26 Total liabilitiesStart of year $258$395
X-32 Total net assets or fund balancesStart of year $44,690$38,351
X-33 Total liabilities and net assetsStart of year $44,948$38,746
Part XI · Reconciliation of net assets $38,351 net assets at year end
XI-1 Total revenue$7,459
XI-2 Total expenses$13,798
XI-3 Revenue less expenses−$6,339
XI-4 Net assets at start of year$44,690
XI-10 Net assets at end of year$38,351

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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