Civic Intelligence

Renaissance City Development Association Inc.

990 • Fiscal year 2021 • EIN 06-0995362

Jul 01, 2020 to Jun 30, 2021 • Filed on Mar 02, 2022

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

63rd percentile

0.16x

Higher debt load relative to assets than 63% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

93rd percentile

2.69x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

73rd percentile

30%

Higher net margin than 73% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

6th percentile

-15%

Faster asset growth than 6% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

54th percentile

16%

Faster revenue growth than 54% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Down

$3,970,936

Down $681,222 (-15%) from 2020

Net Assets

Down

$3,336,270

Down $690,477 (-17%) from 2020

Liabilities

Up

$634,666

Up $9,255 (+1.5%) from 2020

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin73rd percentile

Revenue

Up

$235,530

Up $32,404 (+16%) from 2020

Expenses

Down

$165,957

Down $755 (-0.5%) from 2020

Net Income

Up

$69,573

Up $33,159 (+91%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth6th 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

2021

Assets$3,970,936
Liabilities$634,666
Net Assets$3,336,270
Open 2021 Filing

Operations Trend

Revenue Growth54th 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

2021

Revenue$235,530
Expenses$165,957
Net Income$69,573
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 2, 2022
Return Version
2020v4.0
Gross Receipts
$235,530
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$3,717,650▼ $760,050
Cash and Non-Interest-Bearing Accounts$98,867$253,286▲ $154,419
Pledges and Grants Receivable$73,091$0▼ $73,091
Accounts Receivable$2,500$0▼ $2,500
Savings and Temporary Cash Investments-$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$4,652,158$3,970,936▼ $681,222
Other Assets Total-$0-
Liabilities
Other Liabilities$600,000$600,100▲ $100
Accounts Payable and Accrued Expenses-$24,549-
Escrow Account Liability$25,411$10,017▼ $15,394
Total Liabilities$625,411$634,666▲ $9,255
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,026,747$3,336,270▼ $690,477
Total Net Assets Fund Balance$4,026,747$3,336,270▼ $690,477
Total Liabilities and Net Assets / Fund Balance$4,652,158$3,970,936▼ $681,222
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Linda MarianiPresident
David CrockerDirector
Jan ChristiansenDirector
Martin BerlinerDirector
Paul GeraghtyAsst. Secretary
Nicholas CaplansonDeputy Treas.
Mark ChristiansenFirst V. Pres.
Andrew RussellSecretary
Gail Schwenker-mayerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,530
Program Service Revenue
$0
Investment Income
$30,000
Other Revenue
$198,000
All Other Contributions
$7,530
Change in Net Assets
$69,573
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$86,405
Other Expenses$79,552
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$80,000--$80,000
Fees for Services Other$19,800--$19,800
Occupancy$15,249--$15,249
Payroll Taxes$6,405--$6,405
Fees for Services Accounting$2,115--$2,115
Other Expenses$2,087--$2,087
All Other Expenses$1,383--$1,383
Total Functional Expenses$165,957$0$0$165,957
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
Payroll Taxes Payable$100
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 35% controlled entity
No
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
2022-03-02
Discuss with paid preparer
Yes

Organization Details

Formed
1979
Legal Domicile
Ct
Voting Board Members
9
Independent Board Members
9
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

“Developed properties transferred = -$760050”

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/TitleTxt6DEPUTY TREAS.
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IRS990/OtherExpensesGrp/Desc2ENVIROMENTAL SUPPORT/REM.
IRS990/OtherExpensesGrp/Desc3HOLDING COSTS
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IRS990/OtherExpensesGrp/ProgramServicesAmt113160
IRS990/OtherExpensesGrp/ProgramServicesAmt22200
IRS990/OtherExpensesGrp/ProgramServicesAmt32087
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IRS990/OtherExpensesGrp/TotalAmt113160
IRS990/OtherExpensesGrp/TotalAmt22200
IRS990/OtherExpensesGrp/TotalAmt32087
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IRS990/OtherLiabilitiesGrp/EOYAmt0600100
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IRS990/OtherSalariesAndWagesGrp/TotalAmt080000
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IRS990/PayrollTaxesGrp/ProgramServicesAmt06405
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt073091
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
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IRS990/PYOtherExpensesAmt055754
IRS990/PYRevenuesLessExpensesAmt036414
IRS990/PYSalariesCompEmpBnftPaidAmt0110958
IRS990/PYTotalExpensesAmt0166712
IRS990/PYTotalRevenueAmt0203126
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt069573
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IRS990/ReportProgramRelatedInvstInd0true
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0173108
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0167788
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0160592
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0178839
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0687857
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt019
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt04826
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt02418
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt07281
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt030000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt023700
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IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1100
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONTRACT PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL TAXES PAYABLE
IRS990ScheduleD/TotalBookValueProgramRltdAmt03717650
IRS990ScheduleD/TotalLiabilityAmt0600100
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS MAY BE INDIVIDUALS, ASSOCIATIONS, PARTNERSHIPS OR CORPORATIONS. THE MEMBERS, WHOSE TERMS HAVE EXPIRED, SHALL BE ELECTED YEARLY AT THE ANNUAL MEETING OF THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPY OF 990 AVAILABLE TO BOARD MEMBERS FOR REVIEW AND DISCUSSED AT SUBSEQUENT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DEVELOPED PROPERTIES TRANSFERRED = -$760050
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMMITTEE REVIEWS QUARTERLY FINANCIAL STATEMENTS. IN ADDITION IT PERFORMS AN ANNUAL SELECTION OF THE INDEPENDENT AUDITOR.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 2: Change of Oversight or Selection Process
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IRS990/USAddress/CityNm0NEW LONDON
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02

Document Assets

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Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$3,970,936
Liabilities
$634,666
Net assets
$3,336,270
Revenue
$235,530
Expenses
$165,957
Net income
$69,573
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
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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