It appeared North Park Main Street, a business improvement district established by the City of San Diego, might be moving. Last month on two walkabouts it was dark inside, boxes and pictures were strewn about, and the door was locked.
It turns out they were remodeling their office, said Angela Landsberg, executive director. “We closed the office for one week and worked from satellite offices during early November so that we could do some updating of the office,” she explained. “The funds were offered by the property owner and partly donated by a construction company.”
Regarding funding, the organization has worked through some financial issues. North Park Main Street's October 2 independent auditors' report from a local CPA firm covers the fiscal year ending June 30, 2012. It indicates the group had “net assets end of year” of $57,424, down from 2011's $117,863. The organization's “cash at end of period” was $67,926, down from 2011's $83,843. But they also held expenses down: $336,150, versus $371,364 the prior fiscal year.
The board of directors didn't meet in December. The November board meeting minutes reported the 501(c)(6) nonprofit organization had “$38,000 in checking, with about $7,260 in accounts receivable.” The Reader emailed Landsberg to ask if the organization was “OK” at this point with cash flow but did not hear back.
The group's financial support comes from business assessments, City of San Diego grants, foundation and other governmental grants, special events, and sponsorships. Most of the member businesses are assessed $125 to $150 per year. Landsberg expects their share of transient occupancy tax to “remain the same” in 2013.
As for moving? Landsberg said, “We just signed a new five-year lease.”