Civic Intelligence

Renaissance City Development Association Inc.

990 • Fiscal year 2023 • EIN 06-0995362

Jul 01, 2022 to Jun 30, 2023 • Filed on Dec 14, 2023

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

30th percentile

0.01x

Higher debt load relative to assets than 30% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

87th percentile

0.96x

Higher debt load relative to revenue than 87% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

1st percentile

-378%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

27th percentile

-2.6%

Faster asset growth than 27% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-96%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets30th percentile

Assets

Down

$3,430,057

Down $92,751 (-2.6%) from 2022

Net Assets

Down

$3,398,838

Down $123,348 (-3.5%) from 2022

Liabilities

Up

$31,219

Up $30,597 (+4919%) from 2022

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin1st percentile

Revenue

Down

$32,605

Down $693,625 (-96%) from 2022

Expenses

Up

$155,953

Up $17,122 (+12%) from 2022

Net Income

Down

-$123,348

Down $710,747 (-121%) from 2022

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 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

2023

Assets$3,430,057
Liabilities$31,219
Net Assets$3,398,838
Open 2023 Filing

Operations Trend

Revenue Growth1st 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

2023

Revenue$32,605
Expenses$155,953
Net Income-$123,348
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Dec 14, 2023
Return Version
2022v5.0
Gross Receipts
$32,605
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$3,095,500$3,095,500→ $0
Cash and Non-Interest-Bearing Accounts$427,308$334,557▼ $92,751
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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$3,522,808$3,430,057▼ $92,751
Other Assets Total-$0-
Liabilities
Other Liabilities$354$30,218▲ $29,864
Accounts Payable and Accrued Expenses$268$1,001▲ $733
Total Liabilities$622$31,219▲ $30,597
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,522,186$3,398,838▼ $123,348
Total Net Assets Fund Balance$3,522,186$3,398,838▼ $123,348
Total Liabilities and Net Assets / Fund Balance$3,522,808$3,430,057▼ $92,751
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Linda MarianiPresident
Nicholas CaplansonVice President
Jan ChristiansenDirector
Martin BerlinerDirector
Paul GeraghtyAsst. Secretary
Mark ChristiansenFirst V. Pres.
Andrew RussellSecretary
David CrockerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,400
Investment Income
$31,205
Other Revenue
$0
Change in Net Assets
$-123,348
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$122,448
Other Expenses$33,505
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$113,000--$113,000
Occupancy$18,145--$18,145
Payroll Taxes$9,448--$9,448
Fees for Services Legal$4,728--$4,728
Fees for Services Accounting$1,825--$1,825
Other Expenses$396--$396
All Other Expenses$30--$30
Total Functional Expenses$155,953$0$0$155,953
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
Development Escrow$30,000
Payroll Taxes Payable$218
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, Section A, Line 6

“Members may be individuals, associations, partnerships or corporations. The members,shall be elected yearly at the annual meeting of the members. The members elect the board of directors.”

Form 990, Part VI, Section B, Line 11B

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

Form 990, Part VI, Section C, Line 19

“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
2023-12-14
Discuss with paid preparer
Yes

Organization Details

Formed
1979
Legal Domicile
Ct
Voting Board Members
9
Independent Board Members
9
Employees
2
Volunteers
25

Preparer

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

Additional Explanations

Form 990, Part XII, Line 2C

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

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IRS990/ProgramServiceRevenueGrp/Desc0Membership Dues & Assessments
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IRS990/PYOtherRevenueAmt0689830
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IRS990/ReconcilationRevenueExpnssAmt0-123348
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IRS990/ReportLandBuildingEquipmentInd0false
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years170Ind0X
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt07530
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0173108
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0167788
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0554826
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt018
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt019
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt037
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt030000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0228000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt030000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt023700
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0311700
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0206400
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0173108
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0554826
IRS990ScheduleA/TotalSupportAmt0866563
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt030000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1218
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEVELOPMENT ESCROW
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL TAXES PAYABLE
IRS990ScheduleD/TotalBookValueProgramRltdAmt03095500
IRS990ScheduleD/TotalLiabilityAmt030218
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS MAY BE INDIVIDUALS, ASSOCIATIONS, PARTNERSHIPS OR CORPORATIONS. THE MEMBERS,SHALL BE ELECTED YEARLY AT THE ANNUAL MEETING OF THE MEMBERS. THE MEMBERS ELECT THE BOARD OF DIRECTORS.
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/ExplanationTxt3THE COMMITTEE REVIEWS QUARTERLY FINANCIAL STATEMENTS. IN ADDITION IT PERFORMS AN ANNUAL SELECTION OF THE INDEPENDENT AUDITOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XII, Line 2c
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt03430057
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0155953
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0622
IRS990/TotalLiabilitiesEOYAmt031219
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt032605
IRS990/TotalVolunteersCnt025
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IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0216 HOWARD STREET
IRS990/USAddress/CityNm0NEW LONDON
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006320
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.RCDA.CO
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA MARIANI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President Bd of Dir
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-12-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RENAISSANCE CITY DEVELOPMENT ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0RENA
ReturnHeader/Filer/EIN0060995362
ReturnHeader/Filer/PhoneNum08604478011
ReturnHeader/Filer/USAddress/AddressLine1Txt0216 HOWARD STREET
ReturnHeader/Filer/USAddress/CityNm0NEW LONDON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006320
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0844040062
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BAUDE & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt035 HUNTINGTON ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW LONDON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006320
ReturnHeader/PreparerPersonGrp/PhoneNum08604421040

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,430,057
Liabilities
$31,219
Net assets
$3,398,838
Revenue
$32,605
Expenses
$155,953
Net income
-$123,348
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
Peer Organizations

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