Kentucky · Nonprofit
DOWNTOWN DEVELOPMENT CORPORATION
DOWNTOWN DEVELOPMENT CORPORATION (Kentucky) receives grants from 18 organizations whose IRS filings report $609,995 to it, the largest being THE GHEENS FOUNDATION INC ($125,000). 8 of them have funded it in more than one year.
- Revenue FY2024
- $1.9M
- Funders on record
- 18
- Grants received
- $610k
- Net assets
- $2.2M
What Downtown Development Corporation does
Mission
The louisville Downtown Development Corporation(ddc) is a private, non profit 501(c)(3) organization dedicated to the long term economic health of downtown louisville and represents the community's civic and business leadership. Since 1988, ddc has played a crucial role in bringing together both the public and private sectors as partners in downtown louisville's redevelopment and long term planning, with ddc serving as the lead entity in the development and implementation of the downtown master plan.
As stated on its FY2024 Form 990.
Programs
Economic development: ddc is the primary organization responsible for providing the strategic vision for downtown louisville's growth and development. While numerous other private and public organizations are necessary for the successful implementation of this vision, ddc leads the process through close collaboration with the community and its partners. Three primary pillars define ddc's strategic approach for downtown's future success: 1) activating downtown through reinforcing and supporting its anchor institutions, expanding downtown's attractions, and attracting people to downtown to showcase louisville's creativity; 2) reinforcing downtown as a residential neighborhood by advocating for conversion incentives to develop residential opportunities, encouraging residential infill of vacant parcels, and expanding amenities that attract new residents; and 3) enhancing the public realm by prioritizing downtown's streets for pedestrians, transforming barriers into seams, activating and connecting underutilized spaces, and reimagining downtown's open spaces.in 2024, ddc devoted significant time and resources in advancing the economic development of downtown to benefit our businesses,…
$335,749 spentof which $3,125 as grants$335,749 earned by the program21% of program spendingDdc engages in a variety of projects in collaboration with local and state government as well as private sector partners meant to increase the vitality and attractiveness of downtown. In 2024, these projects and initiatives included:- cityspots: conceptualized by leadership louisville's 2022 bingham fellows cohort, cityspots are the transformation of underutilized or forgotten public spaces into welcoming places of urban surprise where people meet, eat, play, or relax, helping to spread vibrancy across downtown. With the first two cityspots completed in 2023, this year ddc continued planning and design work for the third and fourth locations. Through the generosity of jpmorganchase and other sponsors, the third cityspot, near the corner of fourth and jefferson streets adjacent to the louisville visitors center, will bring the space to life with colorful wall and sidewalk murals, a public piano, additional seating, and flowers. The fourth cityspot, sponsored by pnc bank, will be located near the corner of fifth and main streets. This whimsical installation will feature larger-than-life swing sets for everyone to enjoy. Ribbon cuttings for these two new cityspots are planned for the…
$641,872 spent$505,872 earned by the program40% of program spendingOne of ddc's critical functions is telling downtown's story by sharing the economic, cultural, and societal importance of downtown for the entire city and also what people might have missed if they haven't come downtown in a while. Working with our partners and generous donors, ddc undertook the following initiatives in 2024:- ddc-hosted events: each year, ddc hosts numerous events designed to bring more people onto the streets and back downtown, which included the inaugural downtown pickleball street fest and the revival of downtown hometown tourism week in 2024. In partnership with goodbounce pickleball yard, the pickleball street fest took place on jefferson street featuring pickleball exhibitions, tournaments, open play, an artisan marketplace, music, and food trucks. The hometown tourism week was a celebration of our attractions and destinations across downtown, offering half-off admission tickets to participating venues to residents of greater louisville and southern indiana. With the assistance of louisville tourism, hotels also participated by offering discounts and package deals for the duration of the event. Perennial favorites also returned, including the second annual…
$608,043 spentof which $75,500 as grants$474,264 earned by the program38% of program spending
The 3 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $1,585,664.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2020 to 2021, from $1.3M to $2.1M (+59%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2021 12% · 2022 8%. Grants only. Government contracts and fees sit inside program revenue.
27% of DOWNTOWN DEVELOPMENT CORPORATION’s revenue is contributions — about as donation-reliant as the typical peer (61% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 6 of the last 8 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Rebecca Fleischaker Couch
Executive director
Board chair
James Ja Hillebrand
Chairman
As listed on its FY2024 Form 990.
The chief executive listed changed between the FY2021 and FY2022 filings.
Who funds it, year by year
2017 → 2023: the base broadened from 2 funders to 8 funders, grant income rose $18k → $231k.
3 of 18 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 14% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
Left out of every figure on this page: $77k from 3 payers (the payer shares this organization's board, largest The Community Foundation of Louisville Corporate Depository Inc). These are real filings, and they are not money DOWNTOWN DEVELOPMENT CORPORATION raised.
From the IRS filings of DOWNTOWN DEVELOPMENT CORPORATION’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
DOWNTOWN DEVELOPMENT CORPORATION has a broad base — no single funder exceeds 20% of grant income, and it takes 3 funders to reach half.
the vertical line marks half of all grant income — 3 funders to its left
42% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund DOWNTOWN DEVELOPMENT CORPORATION.
Largest funder’s share by year: 2017 86% · 2018 100% · 2019 60% · 2020 57% · 2021 100% · 2022 34% · 2023 32% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
50% of DOWNTOWN DEVELOPMENT CORPORATION's funders are still giving 1 year after their first grant; 44% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
91% of DOWNTOWN DEVELOPMENT CORPORATION's grant income comes from Kentucky funders.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $83k arriving through sponsors registered in 3 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
DOWNTOWN DEVELOPMENT CORPORATION is better cushioned than half of the 4,203 community improvement nonprofits its size.
this organization peer median middle 50% of peers· 4,203 community improvement nonprofits $1M–$10M, FY2024
Organizations like DOWNTOWN DEVELOPMENT CORPORATION
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Kentucky
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
85% of spending goes to programs.
Governance
Public support
91%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Part of a family of 3 related entities
- Louisville Downtown Support Services LLC · disregarded
- Downtown Commercial Loan Fund LLC · partnership
- Downtown Housing Assistance Loan Fund Dha LLC · partnership
Screen this organization
A dated, signed PDF of the compliance screen for DOWNTOWN DEVELOPMENT CORPORATION: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds DOWNTOWN DEVELOPMENT CORPORATION?
- DOWNTOWN DEVELOPMENT CORPORATION (Kentucky) receives grants from 18 organizations whose IRS filings report $609,995 to it, the largest being THE GHEENS FOUNDATION INC ($125,000). 8 of them have funded it in more than one year.
- How many funders does DOWNTOWN DEVELOPMENT CORPORATION have?
- IRS filings report 18 organizations giving $609,995 in grants to DOWNTOWN DEVELOPMENT CORPORATION, 8 of which have funded it in more than one year.
- Who is the largest funder of DOWNTOWN DEVELOPMENT CORPORATION?
- THE GHEENS FOUNDATION INC is the largest funder on record, with $125,000 in grants. The full list of funders is on this page.
- How can an organization like DOWNTOWN DEVELOPMENT CORPORATION find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Kentucky. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2024 (financials across 2017–2024), and the filings of 18 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing