Tracking code caldwell guardian

Sunday, April 26, 2020

Destination Caldwell Running on Financial Fumes

It has been reported to the Guardian the financial resources of Destination Caldwell are nearly depleted.  In short, they are operating on financial fumes.  Time will tell if they are really short on cash or not.  CEO Keri Smith-Sigman has stated that all is well with their financial situation and they expect grants and other cash infusions in the near term.

It is worth noting CEO of Destination Caldwell, Smith-Sigman is running for Canyon County Commissioner.

Destination Caldwell runs the Caldwell Plaza and is a 501 C-3 nonprofit organization.  They do not share their financial statements with the public nor do they share them with the very people who are members of the BID (Business Improvement District) who fund the organization based on a percentage of their property tax assessed values up to a maximum of $5,000.00.
Posted by Paul Alldredge at 11:50 AM

4 comments:

  1. AnonymousSunday, April 26, 2020 12:39:00 PM

    I don't understand why they are not required to publish their financial data with those who fund the organization. If they are funded with property taxes, they why aren't they more than willing to share their dataa?

    ReplyDelete
  2. AnonymousMonday, April 27, 2020 2:51:00 PM

    I don't understand why a publicly funded entity like Destination Caldwell is not posting their financials like cities, counties and school districts. They owe this to those who are funding this organization.

    ReplyDelete
  3. AnonymousTuesday, April 28, 2020 7:46:00 AM

    I find it interesting that it has taken so long to ask this question.While we need the Plaza, we also need to connect with the financials.And someone wanting this information should not be turned away.to date it has been a secret society.that is not good.

    ReplyDelete
  4. AnonymousWednesday, July 28, 2021 2:30:00 PM

    501c3 do have a public disclosure aspect IF someone requests the information in writing. They have a board of directors (9) ask one of them.

    I don't believe they could be c3 to begin with despite their state filing.

    These are the ONLY purposes a c3 can do:
    charitable,
    religious,
    educational,
    scientific,
    literary,
    testing for public safety,
    fostering national or
    international amateur sports competition, and
    preventing cruelty to children or animals.

    Their Articles claim they are all, or one of the purposes.
    Quote, "EDUCATING THE RESIDENTS AND VISITORS TO THE CITY OF CALDWELL AND SURROUNDING AREA ABOUT THE DIVERSE CULTURE, EDUCATIONAL, SCIENTIFIC, CIVIC, AND ATHLETIC ATTRACTIONS AND EVENTS AVAILABLE TO THE PUBLIC IN CALDWELL"

    "Educating" or advertising?

    The IRS also has an operational test.
    If an org is not 'operating' under the rules, they lose.

    A business 'association' is not c3, but rather one of the other types of nonprofits, and probably more appropriate for this Caldwell organization.

    Their Form 990 is available to the public- Financial information is available already.

    ReplyDelete

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