Civic Intelligence

South Jersey Technology Park at Rowan University

990 • Fiscal year 2016 • EIN 05-0526470

Jul 01, 2015 to Jun 30, 2016 • Filed on May 12, 2017

Organization Profilewww.sjtechpark.org
201 Mullica Hill RoadGlassboro, NJ 08028

(856) 256-4099

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

67th percentile

0.43x

Higher debt load relative to assets than 67% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

93rd percentile

4.71x

Higher debt load relative to revenue than 93% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

17th percentile

-11%

Higher net margin than 17% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

92nd percentile

$600,476

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 54.7% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

27th percentile

-2.6%

Faster asset growth than 27% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

60th percentile

6.2%

Faster revenue growth than 60% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$11,925,707

Down $317,754 (-2.6%) from 2015

Net Assets

Down

$6,747,415

Down $119,090 (-1.7%) from 2015

Liabilities

Down

$5,178,292

Down $198,664 (-3.7%) from 2015

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin17th percentile

Revenue

Up

$1,098,750

Up $64,359 (+6.2%) from 2015

Expenses

Up

$1,217,840

Up $76,514 (+6.7%) from 2015

Net Income

Down

-$119,090

Down $12,155 (-11%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2011: $13,613,517Liabilities 2011: $6,044,976Net Assets 2011: $7,568,5412011Assets 2012: $13,353,704Liabilities 2012: $5,881,368Net Assets 2012: $7,472,3362012Assets 2013: $13,068,614Liabilities 2013: $5,729,037Net Assets 2013: $7,339,5772013Assets 2014: $12,519,844Liabilities 2014: $5,546,404Net Assets 2014: $6,973,4402014Assets 2015: $12,243,461Liabilities 2015: $5,376,956Net Assets 2015: $6,866,5052015Assets 2016: $11,925,707Liabilities 2016: $5,178,292Net Assets 2016: $6,747,4152016Assets 2017: $11,546,585Liabilities 2017: $5,062,181Net Assets 2017: $6,484,4042017Assets 2018: $11,373,947Liabilities 2018: $4,929,256Net Assets 2018: $6,444,6912018Assets 2019: $10,994,179Liabilities 2019: $4,594,511Net Assets 2019: $6,399,6682019Assets 2020: $11,855,193Liabilities 2020: $5,423,018Net Assets 2020: $6,432,1752020Assets 2021: $11,285,405Liabilities 2021: $4,913,965Net Assets 2021: $6,371,4402021Assets 2022: $30,706,458Liabilities 2022: $23,898,006Net Assets 2022: $6,808,4522022Assets 2023: $29,485,852Liabilities 2023: $22,480,866Net Assets 2023: $7,004,9862023Assets 2024: $28,112,147Liabilities 2024: $20,990,486Net Assets 2024: $7,121,6612024

Highlighted filing

2016

Assets$11,925,707
Liabilities$5,178,292
Net Assets$6,747,415
Open 2016 Filing

Operations Trend

Revenue Growth60th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $817,044Expenses 2011: $902,077Net Income 2011: -$85,0332011Revenue 2012: $868,296Expenses 2012: $964,501Net Income 2012: -$96,2052012Revenue 2013: $933,346Expenses 2013: $1,066,105Net Income 2013: -$132,7592013Revenue 2014: $987,818Expenses 2014: $1,199,609Net Income 2014: -$211,7912014Revenue 2015: $1,034,391Expenses 2015: $1,141,326Net Income 2015: -$106,9352015Revenue 2016: $1,098,750Expenses 2016: $1,217,840Net Income 2016: -$119,0902016Revenue 2017: $1,129,159Expenses 2017: $1,392,170Net Income 2017: -$263,0112017Revenue 2018: $1,143,462Expenses 2018: $1,183,175Net Income 2018: -$39,7132018Revenue 2019: $1,176,844Expenses 2019: $1,221,867Net Income 2019: -$45,0232019Revenue 2020: $1,228,775Expenses 2020: $1,196,268Net Income 2020: $32,5072020Revenue 2021: $1,212,069Expenses 2021: $1,272,804Net Income 2021: -$60,7352021Revenue 2022: $1,516,682Expenses 2022: $1,296,654Net Income 2022: $220,0282022Revenue 2023: $1,547,350Expenses 2023: $1,350,816Net Income 2023: $196,5342023Revenue 2024: $1,592,750Expenses 2024: $1,476,075Net Income 2024: $116,6752024

Highlighted filing

2016

Revenue$1,098,750
Expenses$1,217,840
Net Income-$119,090
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 12, 2017
Return Version
2015v3.0
Gross Receipts
$1,098,750
Mission and Program Overview

Mission

The mission of south jersey technology park is to expand and strengthen the unique research and learning environment of rowan university; establish a technology-based entrepreneurial economy; and create value for its surrounding communities in their economic, physical and social development.

To lead the economic revitalization of southern new jersey through an integrated program of science and technology initiatives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,866,719$10,499,283▼ $367,436
Savings and Temporary Cash Investments$1,200,103$1,301,246▲ $101,143
Accounts Receivable$176,639$125,178▼ $51,461
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$12,243,461$11,925,707▼ $317,754
Other Assets Total$0$0→ $0
Liabilities
Tax Exempt Bond Liabilities$5,329,183$5,145,512▼ $183,671
Accounts Payable and Accrued Expenses$47,773$32,780▼ $14,993
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$5,376,956$5,178,292▼ $198,664
Net Assets / Fund Balance
Unrestricted Net Assets$6,866,505$6,747,415▼ $119,090
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$6,866,505$6,747,415▼ $119,090
Total Liabilities and Net Assets / Fund Balance$12,243,461$11,925,707▼ $317,754

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,499,283$2,671,986$13,171,269
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeOtherTotal
Sarah PiddingtonDirector, SJTPPT$125,642$125,642
Michael MuhlbaierDirector/Instructor-$60,826$60,826
Thomas ChristianiDirector/Student Member-$19,313$19,313

Board Members and Trustees

NameTitle
Lisa MorinaChair/Director
Manning Smith IIIVice Chair/Director
Anthony Perno IIIDirector
Christopher LaingDirector
Donald SebastianDirector
Melanie WilloughbyDirector
Sam Jones JrDirector
Dr Ali HoushmandDirector (Pres of Rowan Univ)
Eric GoldwaserDirector/Student Member
Shreekanth MandayamExecutive Director, SJTP
Marlene AsseltaSecretary/Director
James TarangeloTreasurer/Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,095,669
Investment Income
$3,081
Other Revenue
$0
Change in Net Assets
$-119,090

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,098,750
Total Revenue per Audited Statements
$1,098,750
Total Revenue per Form 990
$1,098,750
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,217,840
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$367,436--$367,436
Interest$183,472--$183,472
Insurance$38,007--$38,007
Fees for Services Management$29,378--$29,378
Fees for Services Other$26,911--$26,911
Fees for Services Legal$26,515--$26,515
Fees for Services Accounting-$24,300-$24,300
Other Expenses$22,000$50,000-$22,000
Office Expenses$12,008--$12,008
Travel$6,523--$6,523
All Other Expenses$3,559--$3,559
Advertising$3,352--$3,352
Total Functional Expenses$1,143,540$74,300$0$1,217,840

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,217,840
Total Expenses per Audited Statements$1,217,840
Total Expenses per Form 990$1,217,840
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AGloucester County Improvement Authority (GCIA)2010-10-19$6,120,000Construction and Site Improvements

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$6,120,000$0$974,488$120,000

Bond Financing Compliance

Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
South Jersey Technology Park
EIN
05-0526470
In Care Of
% JOSEPH F SCULLY
Phone
8562564099
Address
201 Mullica Hill Road, Glassboro, NJ 08028

Signing Officer

Name
Joseph F Scully
Title
CFO
Phone
8562564127
Signed
2017-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shreekanth Mandayam
Formed
2002
Legal Domicile
Nj
Voting Board Members
13
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
Grant Thornton Llp
Address
2001 MARKET STREET SUITE 700, PHILADELPHIA, PA 19103
Preparer
Russlee Armstrong
Phone
2155614200
Supplemental Narrative

Additional Explanations

Member Voting Rights

“Form 990, Part VI, Line 1a The two graduate student board members are precluded from voting on personnel issues.”

Members or Stockholders Who May Elect

“Form 990, Part VI, Line 7a The Rowan University Board of Trustees appoints all Directors of this filing organization.”

Decisions Subject to Approval

“Form 990, Part VI, Line 7b The Rowan University Board of Trustees ultimately approves all transactions occurring within this filing organization.”

Form 990 Review Process

“Form 990, Part VI, Line 11b The Rowan University Accounting Services Office (Accounting Services) acts as the liaison in the preparation of the tax returns for South Jersey Technology Park at Rowan University, Inc. (SJTP). Accounting Services provides all the financial information to the paid tax preparer based on the SJTP audited financial statements as well as the records of Rowan University's Accounting System for SJTP. Accounting Services contacts SJTP's officers and staff to obtain answers to the non-financial questions and provides this information to the paid tax preparer. A draft of the Form 990 is reviewed by accounting services personnel and SJTP officers and/or staff. Each board of directors member will receive a copy of the completed Form 990 prior to its filing with the Internal Revenue Service.”

How Documents are Made Available to the Public

“Form 990, Part VI, Line 19 Governing documents and financial statements are available upon request. The filing organization does not have a conflict of interest policy.”

Oversight of Audited Financial Statements

“Form 990, Part XII, Line 2c The filing organization does not have a separate committee that assumes responsibility for selection of an independent accountant. However, the filing organization's related organization, Rowan University, does have such a committee that assumes responsibility for selection on behalf of the filing organization. The filing organization does have a committee that assumes responsibility for oversight of the audit of its financial statements.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm4Thomas Christiani
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IRS990/MissionDesc0THE MISSION OF SOUTH JERSEY TECHNOLOGY PARK IS TO EXPAND AND STRENGTHEN THE UNIQUE RESEARCH AND LEARNING ENVIRONMENT OF ROWAN UNIVERSITY; ESTABLISH A TECHNOLOGY-BASED ENTREPRENEURIAL ECONOMY; AND CREATE VALUE FOR ITS SURROUNDING COMMUNITIES IN THEIR ECONOMIC, PHYSICAL AND SOCIAL DEVELOPMENT.
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,925,707
Liabilities
$5,178,292
Net assets
$6,747,415
Revenue
$1,098,750
Expenses
$1,217,840
Net income
-$119,090
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$28.1$21.0$7.12$1.59$1.48$0.12
2023Detailed filing. Detailed filing data is available for this year.$29.5$22.5$7.00$1.55$1.35$0.20
2022Detailed filing. Detailed filing data is available for this year.$30.7$23.9$6.81$1.52$1.30$0.22
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.3$4.91$6.37$1.21$1.27$0.06
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$5.42$6.43$1.23$1.20$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.0$4.59$6.40$1.18$1.22$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.4$4.93$6.44$1.14$1.18$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.5$5.06$6.48$1.13$1.39$0.26
2016Detailed filing. Detailed filing data is available for this year.$11.9$5.18$6.75$1.10$1.22$0.12
2015Detailed filing. Detailed filing data is available for this year.$12.2$5.38$6.87$1.03$1.14$0.11
2014Detailed filing. Detailed filing data is available for this year.$12.5$5.55$6.97$0.99$1.20$0.21
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.1$5.73$7.34$0.93$1.07$0.13
2012Summary only. Only limited summary data is available for this year.$13.4$5.88$7.47$0.87$0.96$0.10
2011Summary only. Only limited summary data is available for this year.$13.6$6.04$7.57$0.82$0.90$0.09