Civic Intelligence

Renaissance City Development Association Inc.

990 • Fiscal year 2019 • EIN 06-0995362

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 15, 2021

Organization ProfileWWW.RCDA.CO

View Organization Page

216 Howard StreetNew London, CT 06320

(860) 447-8011

Siviq Scores

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

Liabilities / Assets

59th percentile

0.14x

Higher debt load relative to assets than 59% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

94th percentile

3.43x

Higher debt load relative to revenue than 94% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

72nd percentile

15%

Higher net margin than 72% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

46th percentile

1.7%

Faster asset growth than 46% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

70th percentile

16%

Faster revenue growth than 70% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$4,647,821

Up $75,867 (+1.7%) from 2018

Net Assets

Down

$3,990,333

Down $571,339 (-13%) from 2018

Liabilities

Up

$657,488

Up $647,206 (+6295%) from 2018

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin72nd percentile

Revenue

Up

$191,507

Up $26,089 (+16%) from 2018

Expenses

Down

$162,846

Down $67,250 (-29%) from 2018

Net Income

Up

$28,661

Up $93,339 (+144%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

$40M$30M$20M$10M$0Assets 2010: $35,526,454Liabilities 2010: $280,547Net Assets 2010: $35,245,9072010Assets 2011: $5,272,193Liabilities 2011: $226,379Net Assets 2011: $5,045,8142011Assets 2012: $5,182,408Liabilities 2012: $56,355Net Assets 2012: $5,126,0532012Assets 2013: $4,780,415Liabilities 2013: $20,078Net Assets 2013: $4,760,3372013Assets 2014: $4,636,696Liabilities 2014: $11,578Net Assets 2014: $4,625,1182014Assets 2015: $4,803,671Liabilities 2015: $19,994Net Assets 2015: $4,783,6772015Assets 2016: $4,643,500Liabilities 2016: $10,000Net Assets 2016: $4,633,5002016Assets 2017: $4,677,494Liabilities 2017: $51,144Net Assets 2017: $4,626,3502017Assets 2018: $4,571,954Liabilities 2018: $10,282Net Assets 2018: $4,561,6722018Assets 2019: $4,647,821Liabilities 2019: $657,488Net Assets 2019: $3,990,3332019Assets 2020: $4,652,158Liabilities 2020: $625,411Net Assets 2020: $4,026,7472020Assets 2021: $3,970,936Liabilities 2021: $634,666Net Assets 2021: $3,336,2702021Assets 2022: $3,522,808Liabilities 2022: $622Net Assets 2022: $3,522,1862022Assets 2023: $3,430,057Liabilities 2023: $31,219Net Assets 2023: $3,398,8382023Assets 2024: $3,260,979Liabilities 2024: $30,205Net Assets 2024: $3,230,7742024Assets 2025: $2,090,856Liabilities 2025: $217Net Assets 2025: $2,090,6392025

Highlighted filing

2019

Assets$4,647,821
Liabilities$657,488
Net Assets$3,990,333
Open 2019 Filing

Operations Trend

Revenue Growth70th percentile

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

$1.0M$500K$0-$500K-$1.0MRevenue 2010: $75,085Expenses 2010: $213,623Net Income 2010: -$138,5382010Revenue 2011: $445,768Expenses 2011: $190,156Net Income 2011: $255,6122011Revenue 2012: $519,557Expenses 2012: $458,734Net Income 2012: $60,8232012Revenue 2013: $120,614Expenses 2013: $486,330Net Income 2013: -$365,7162013Revenue 2014: $15,105Expenses 2014: $154,223Net Income 2014: -$139,1182014Revenue 2015: $504,161Expenses 2015: $345,602Net Income 2015: $158,5592015Revenue 2016: $337,801Expenses 2016: $487,978Net Income 2016: -$150,1772016Revenue 2017: $181,257Expenses 2017: $188,407Net Income 2017: -$7,1502017Revenue 2018: $165,418Expenses 2018: $230,096Net Income 2018: -$64,6782018Revenue 2019: $191,507Expenses 2019: $162,846Net Income 2019: $28,6612019Revenue 2020: $203,126Expenses 2020: $166,712Net Income 2020: $36,4142020Revenue 2021: $235,530Expenses 2021: $165,957Net Income 2021: $69,5732021Revenue 2022: $726,230Expenses 2022: $138,831Net Income 2022: $587,3992022Revenue 2023: $32,605Expenses 2023: $155,953Net Income 2023: -$123,3482023Revenue 2024: $36,800Expenses 2024: $204,864Net Income 2024: -$168,0642024Revenue 2025: -$594,694Expenses 2025: $154,261Net Income 2025: -$748,9552025

Highlighted filing

2019

Revenue$191,507
Expenses$162,846
Net Income$28,661
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 15, 2021
Return Version
2018v3.1
Gross Receipts
$191,507
Mission and Program Overview

Mission

The rcda is committed to promoting and improving the economic health of new london, while creating opportunities for its citizens and the entire region. The corporation pursues three key goals: creating job opportunities, enhancing the local, regional and state economy, and creating opportunities for its citizens and the entire region.

The rcda is committed to promoting and improving the economic health of new london, while expanding new london's tax base.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$4,477,700$4,477,700→ $0
Cash and Non-Interest-Bearing Accounts$38,911$170,121▲ $131,210
Savings and Temporary Cash Investments$47,045$0▼ $47,045
Pledges and Grants Receivable$8,298$0▼ $8,298
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$4,571,954$4,647,821▲ $75,867
Other Assets Total-$0-
Liabilities
Other Liabilities$10,282$600,000▲ $589,718
Escrow Account Liability-$30,018-
Deferred Revenue-$27,328-
Accounts Payable and Accrued Expenses-$142-
Total Liabilities$10,282$657,488▲ $647,206
Net Assets / Fund Balance
Unrestricted Net Assets$4,561,672$3,990,333▼ $571,339
Total Net Assets Fund Balance$4,561,672$3,990,333▼ $571,339
Total Liabilities and Net Assets / Fund Balance$4,571,954$4,647,821▲ $75,867
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Linda MarianiPresident
Barbara NeffDirector
Charles HanleyDirector
David CrockerDirector
David GoebelDirector
David TopkinDirector
Ed DemuzzioDirector
Jan ChristiansenDirector
Martin BerlinerDirector
William CornishDirector
Jerry Sinnamon2nd v. pres.
Paul GeraghtyAsst. Secretary
Nicholas CaplansonDeputy Treas.
Mark ChristiansenFirst V. Pres.
Andrew RussellSecretary
Gail Schwenker-mayerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$167,788
Program Service Revenue
$0
Investment Income
$23,719
Other Revenue
$0
All Other Contributions
$4,950
Change in Net Assets
$28,661
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$119,185
Other Expenses$43,661
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$66,000$44,000-$110,000
Occupancy-$16,884-$16,884
Payroll Taxes$5,511$3,674-$9,185
Fees for Services Legal$6,777$753-$7,530
Fees for Services Accounting-$5,565-$5,565
Other Expenses$868$2,303-$868
All Other Expenses$511--$511
Total Functional Expenses$87,732$75,114$0$162,846
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Contract Payable$600,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Members may be individuals, associations, partnerships or corporations. The members, whose terms have expired, shall be elected yearly at the annual meeting of the members.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Copy of 990 available to board members for review and discussed at subsequent board meeting.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public on request.”

Filing and Contact Details

Filer

Filer Name
Renaissance City Development Association
EIN
06-0995362
Phone
8604478011
Address
216 HOWARD STREET, NEW LONDON, CT 06320

Signing Officer

Name
Linda Mariani
Title
President Bd of Director
Signed
2021-03-15
Discuss with paid preparer
Yes

Organization Details

Formed
1979
Legal Domicile
Ct
Voting Board Members
17
Independent Board Members
17
Employees
2
Volunteers
44

Preparer

Firm
Baude & Associates LLC
Address
35 HUNTINGTON ST, NEW LONDON, CT 06320
Preparer
Ronald J Baude CPA
Phone
8604421040
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Transfer of fund balance to contract payable = -$600000”

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

“The committee reviews quarterly financial statements. In addition it performs an annual selection of the independent auditor.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0First V. Pres.
IRS990/Form990PartVIISectionAGrp/TitleTxt1Asst. Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt22nd v. pres.
IRS990/Form990PartVIISectionAGrp/TitleTxt3President
IRS990/Form990PartVIISectionAGrp/TitleTxt4Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10DEPUTY TREAS.
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
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IRS990/MissionDesc0THE RCDA IS COMMITTED TO PROMOTING AND IMPROVING THE ECONOMIC HEALTH OF NEW LONDON, WHILE CREATING OPPORTUNITIES FOR ITS CITIZENS AND THE ENTIRE REGION. THE CORPORATION PURSUES THREE KEY GOALS: CREATING JOB OPPORTUNITIES, ENHANCING THE LOCAL, REGIONAL AND STATE ECONOMY, AND CREATING OPPORTUNITIES FOR ITS CITIZENS AND THE ENTIRE REGION.
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,647,821
Liabilities
$657,488
Net assets
$3,990,333
Revenue
$191,507
Expenses
$162,846
Net income
$28,661
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.09$0.00$2.09$0.59$0.15$0.75
2024Detailed filing. Detailed filing data is available for this year.$3.26$0.03$3.23$0.04$0.20$0.17
2023Detailed filing. Detailed filing data is available for this year.$3.43$0.03$3.40$0.03$0.16$0.12
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.52$0.00$3.52$0.73$0.14$0.59
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.97$0.63$3.34$0.24$0.17$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.65$0.63$4.03$0.20$0.17$0.04
2019Detailed filing. Detailed filing data is available for this year.$4.65$0.66$3.99$0.19$0.16$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.57$0.01$4.56$0.17$0.23$0.06
2017Summary only. Only limited summary data is available for this year.$4.68$0.05$4.63$0.18$0.19$0.01
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.64$0.01$4.63$0.34$0.49$0.15
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.80$0.02$4.78$0.50$0.35$0.16
2014Detailed filing. Detailed filing data is available for this year.$4.64$0.01$4.63$0.02$0.15$0.14
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.78$0.02$4.76$0.12$0.49$0.37
2012Summary only. Only limited summary data is available for this year.$5.18$0.06$5.13$0.52$0.46$0.06
2011Summary only. Only limited summary data is available for this year.$5.27$0.23$5.05$0.45$0.19$0.26
2010Summary only. Only limited summary data is available for this year.$35.5$0.28$35.2$0.08$0.21$0.14
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • $1M-$5M nonprofits