2023-07-26T12:41:07-04:00 2022-12-31 460257538 KETEL THORSTENSON LLP PO BOX 3140 RAPID CITY SD 577093140 990 2022-01-01 273983146 MAIN STREET SQUARE MAIN 6057167979 512 MAIN STREET SUITE 980 RAPID CITY SD 57701 MATT SENFTNER PRESIDENT/CEO 6057219071 2023-07-26 true MATT SENFTNER XXX-XX-XXXX false JEAN SMITH CPA P00479382 6053425630 2023-07-26 2022 2023-04-26 12:10:37Z MATT SENFTNER 512 MAIN STREET SUITE 980 RAPID CITY SD 57701 1102491 false X WWW.MAINSTREETSQUARE.ORG X 2010 SD THE ORGANIZATION OPERATES A TOWN SQUARE (WHICH IS OWNED BY THE CITY OF RAPID CITY) IN THE HEART OF DOWNTOWN RAPID CITY IN ORDER TO PROVIDE AN ACTIVE GATHERING PLACE FOR THE ENTIRE COMMUNITY, TO INVITE MORE PEDESTRIAN TRAFFIC DOWNTOWN, AND TO STRENGTHEN THE CENTER OF THE COMMUNITY. THIS INCLUDES SUPPORTING, ENCOURAGING, ADVOCATING, AND PRESERVING THE VITALITY AND AESTHETIC BEAUTY OF THE DOWNTOWN RAPID CITY BUSINESS COMMUNITY. 14 12 41 34 0 855423 640337 489322 444355 4272 2021 15398 12751 1364415 1099464 0 0 662567 566230 0 30672 597948 499361 1260515 1065591 103900 33873 1564054 1669966 34663 128265 1529391 1541701 X THE ORGANIZATION OPERATES A TOWN SQUARE (WHICH IS OWNED BY THE CITY OF RAPID CITY) IN THE HEART OF DOWNTOWN RAPID CITY IN ORDER TO PROVIDE AN ACTIVE GATHERING PLACE FOR THE ENTIRE COMMUNITY, TO INVITE MORE PEDESTRIAN TRAFFIC DOWNTOWN, AND TO STRENGTHEN THE CENTER OF THE COMMUNITY. THIS INCLUDES SUPPORTING, ENCOURAGING, ADVOCATING, AND PRESERVING THE VITALITY AND AESTHETIC BEAUTY OF THE DOWNTOWN RAPID CITY BUSINESS COMMUNITY. false false 786714 445766 THE ORGANIZATION OVERSEES MANAGEMENT OF MAIN STREET SQUARE THROUGH AN OPERATING AGREEMENT WITH THE CITY OF RAPID CITY. DURING 2022, MAIN STREET SQUARE HELD OVER 60 EVENTS AND DREW BETWEEN 150,000 - 250,000 PEOPLE TO THE SQUARE AND DOWNTOWN RAPID CITY. AN INTERACTIVE WATER FOUNTAIN OPERATES IN THE SUMMER MONTHS, AND AN ICE SKATING RINK OPERATES IN THE WINTER MONTHS. A VISITOR INFORMATION CENTER IS OPEN DURING ALL EVENTS TO PROVIDE INFORMATION ON THE LOCAL COMMUNITY. EVENTS HELD DURING 2022 INCLUDED HOLIDAY CELEBRATIONS, MOONLIT MOVIES, THURSDAY NIGHT CONCERT SERIES, AND MUCH MORE. MAIN STREET SQUARE ALSO EDUCATES OTHER CITIES ON ECONOMIC DEVELOPMENT AND, IN TURN, UTILIZES THESE OPPORTUNITIES TO MAKE IMPROVEMENTS IN ITS EVENTS. THE ORGANIZATION LEADS EFFORTS TO REDEVELOP AND REVITALIZE DOWNTOWN RAPID CITY THROUGH IMPROVING STREETSCAPES AND FACADES, ENHANCING THE BUSINESS MIX DOWNTOWN, AND PROVIDING CLEAN AND SAFE PROGRAMS. THE ORGANIZATION ALSO MAINTAINS A WEBSITE AND DISTRIBUTES LITERATURE PROMOTING DOWNTOWN BUSINESSES AND EVENTS. THE ORGANIZATION PROMOTES THE ARTS IN DOWNTOWN RAPID CITY. AS PART OF THIS PROMOTION, A SCULPTURE PROJECT WAS COMPLETED THAT POSITIONS RAPID CITY AS AN ARTS DESTINATION. THE PROJECT WAS THE LARGEST PRIVATELY FUNDED PUBLIC ART COMMISSION UNDERWAY IN THE UNITED STATES AND WAS COMPLETED IN 2017. THE SCULPTOR WORKED IN THE PUBLIC VIEW AND FOCUSED ON COMMUNITY INPUT AND INVOLVEMENT. 786714 true true false false false false false false false true true false false true true true true false false false false false false false false false false false false false false false false false false false false true false false false false false false false false false true 18 0 41 true false false false false false false false false false false false false X 14 12 false false false false false false false true true false false true true false true false false true true false X MATT SENFTNER 6057167979 512 MAIN STREET SUITE 980 RAPID CITY SD 57701 DOMICO RODRIGUEZ PRESIDENT/CE 45.00 X X 81428 0 7167 MUTCH USERA CHAIR 1.00 X X 0 0 0 RAY HESPEN VICE CHAIR 1.00 X X 0 0 0 BILLI DERUDDER SECRETARY 1.00 X X 0 0 0 STACEY HAZELTON TREASURER 1.00 X X 0 0 0 TIM JOHNSON DIRECTOR 1.00 X 0 0 0 JIM ADELSTEIN DIRECTOR 1.00 X 0 0 0 STEVE ALLENDER DIRECTOR 1.00 X 0 0 0 DR JIM RANKIN DIRECTOR 1.00 X 0 0 0 STACIE GRANUM DIRECTOR 1.00 X 0 0 0 LORI VEGA DIRECTOR 1.00 X 0 0 0 TOM JOHNSON DIRECTOR 1.00 X 0 0 0 SAM WYLIE DIRECTOR 1.00 X 0 0 0 MIKE POGANY DIRECTOR 1.00 X 0 0 0 81428 7167 false false false 40000 600337 640337 BID REVENUE 812900 224229 224229 ICE SKATING 812900 111375 111375 COMMUNITY EVENTS 812900 98751 98751 DOWNTOWN ADVERTISING 812900 10000 10000 444355 5048 5048 11340 11340 11340 11340 3027 -3027 -3027 -3027 MISCELLANEOUS 900099 1411 1411 1411 1099464 445766 13361 88595 17719 62017 8859 418092 354251 54937 8904 4986 3660 1151 175 15111 11093 3488 530 39446 28958 9105 1383 48660 48660 16947 4237 12710 76782 69104 7678 24760 10916 13726 118 10629 8503 2126 110315 98549 11766 26679 19621 4033 3025 4036 2018 2018 367 367 62159 49106 13053 47076 37661 9415 EVENTS EXPENSE 69424 69424 ICE SKATING EXPENSE 1441 1441 MISCELLANEOUS 86 86 1065591 786714 248205 30672 87478 146567 611563 633390 93812 6189 7091 3605 3600 1418679 788593 576999 630086 183506 250134 1564054 1669966 34663 36828 91437 34663 128265 X 1442828 1452763 86563 88938 1529391 1541701 1564054 1669966 33873 -21563 X true X true X true false X 1168716 801195 831823 855423 640337 4297494 568974 537501 380011 493057 445766 2425309 1737690 1338696 1211834 1348480 1086103 6722803 881250 360000 350000 336139 420534 2347923 52824 78584 46140 34322 5950 217820 934074 438584 396140 370461 426484 2565743 4157060 1529 9208 9664 14087 16388 50876 1529 9208 9664 14087 16388 50876 1739219 1347904 1221498 1362567 1102491 6773679 0.61370 0.58020 0.01000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 183506 -24611 158895 180000 3506 183506 0.87410 0.12590 true false 458110 43225 414885 960569 745368 215201 630086 ENDOWMENT HELD BY COMM FOUNDATIONS 158895 LEASE ASSET 91239 250134 LEASE LIABILITY 91437 91437 X 1077901 -21563 -21563 1099464 1099464 1065591 1065591 1065591 SCHEDULE D, PAGE 2, PART V, LINE 4 EARNINGS FROM ENDOWMENT FUNDS WILL BE USED FOR OPERATIONAL NEEDS. SCHEDULE D, PAGE 3, PART X AT DECEMBER 31, 2022, THE ORGANIZATION BELIEVES NO MATERIAL UNCERTAIN TAX POSITIONS OR LIABILITIES, OR INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, EXIST. STEVE ALLENDER BUSINESS 224229 BID REVENUE false SCHEDULE L, PART V STEVE ALLENDER IS THE MAYOR OF RAPID CITY. AS NOTED IN PART III, THE CITY CONTRACTS WITH MAIN STREET SQUARE TO PROVIDE MANAGEMENT OF THE SQUARE. FUNDING IS PROVIDED TO SUPPORT THESE GENERAL OPERATIONS THROUGH TAX DOLLARS PAID BY THE DOWNTOWN BUSINESS IMPROVEMENT DISTRICT. ADDITIONAL DOLLARS ARE SOMETIMES PROVIDED FOR DOWNTOWN BEAUTIFICATION PROJECTS. FORM 990 - ORGANIZATION'S MISSION THE ORGANIZATION OPERATES A TOWN SQUARE (WHICH IS OWNED BY THE CITY OF RAPID CITY) IN THE HEART OF DOWNTOWN RAPID CITY IN ORDER TO PROVIDE AN ACTIVE GATHERING PLACE FOR THE ENTIRE COMMUNITY, TO INVITE MORE PEDESTRIAN TRAFFIC DOWNTOWN, AND TO STRENGTHEN THE CENTER OF THE COMMUNITY. THIS INCLUDES SUPPORTING, ENCOURAGING, ADVOCATING, AND PRESERVING THE VITALITY AND AESTHETIC BEAUTY OF THE DOWNTOWN RAPID CITY BUSINESS COMMUNITY. FORM 990, PAGE 2, PART III, LINE 4A THE ORGANIZATION OVERSEES MANAGEMENT OF MAIN STREET SQUARE THROUGH AN OPERATING AGREEMENT WITH THE CITY OF RAPID CITY. DURING 2022, MAIN STREET SQUARE HELD OVER 60 EVENTS AND DREW BETWEEN 150,000 - 250,000 PEOPLE TO THE SQUARE AND DOWNTOWN RAPID CITY. AN INTERACTIVE WATER FOUNTAIN OPERATES IN THE SUMMER MONTHS, AND AN ICE SKATING RINK OPERATES IN THE WINTER MONTHS. A VISITOR INFORMATION CENTER IS OPEN DURING ALL EVENTS TO PROVIDE INFORMATION ON THE LOCAL COMMUNITY. EVENTS HELD DURING 2022 INCLUDED HOLIDAY CELEBRATIONS, MOONLIT MOVIES, THURSDAY NIGHT CONCERT SERIES, AND MUCH MORE. MAIN STREET SQUARE ALSO EDUCATES OTHER CITIES ON ECONOMIC DEVELOPMENT AND, IN TURN, UTILIZES THESE OPPORTUNITIES TO MAKE IMPROVEMENTS IN ITS EVENTS. THE ORGANIZATION LEADS EFFORTS TO REDEVELOP AND REVITALIZE DOWNTOWN RAPID CITY THROUGH IMPROVING STREETSCAPES AND FACADES, ENHANCING THE BUSINESS MIX DOWNTOWN, AND PROVIDING CLEAN AND SAFE PROGRAMS. THE ORGANIZATION ALSO MAINTAINS A WEBSITE AND DISTRIBUTES LITERATURE PROMOTING DOWNTOWN BUSINESSES AND EVENTS. THE ORGANIZATION PROMOTES THE ARTS IN DOWNTOWN RAPID CITY. AS PART OF THIS PROMOTION, A SCULPTURE PROJECT WAS COMPLETED THAT POSITIONS RAPID CITY AS AN ARTS DESTINATION. THE PROJECT WAS THE LARGEST PRIVATELY FUNDED PUBLIC ART COMMISSION UNDERWAY IN THE UNITED STATES AND WAS COMPLETED IN 2017. THE SCULPTOR WORKED IN THE PUBLIC VIEW AND FOCUSED ON COMMUNITY INPUT AND INVOLVEMENT. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS PREPARED BY A LICENSED CPA AND REVIEWED IN DETAIL BY THE EXECUTIVE DIRECTOR AND ACCOUNTANT. THE BOARD OF DIRECTORS APPROVES THE FORM 990 PRIOR TO FILING WITH THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C OFFICERS, DIRECTORS AND BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST AS THEY OCCUR. THE BOARD REQUIRES INDIVIDUALS TO ABSTAIN FROM DISCUSSING AND VOTING ON ANY CONFLICTED MATTERS. FORM 990, PAGE 6, PART VI, LINE 15A THE ORGANIZATION PERFORMS A COMPARATIVE ANALYSIS WITH OTHER CITIES AND THEIR DOWNTOWN MANAGER, AS WELL AS REVIEWING SALARIES FROM THE INTERNATIONAL DOWNTOWN ASSOCIATION. THIS PROCESS IS PERFORMED FOR INDIVIDUALS IN ALL POSITIONS. COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS AND APPROPRIATELY DOCUMENTED FOR THE CEO. FORM 990, PAGE 6, PART VI, LINE 15B SEE DISCUSSION OF PROCESS USED AT 15A. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND THE CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.