Civic Intelligence

Federal Hill Commerce Association Inc

990 • Fiscal year 2020 • EIN 06-1482194

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

536 Atwells AvenueProvidence, RI 02909

(401) 432-7783

Siviq Scores

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

Liabilities / Assets

95th percentile

1.19x

Higher debt load relative to assets than 95% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

61st percentile

0.13x

Higher debt load relative to revenue than 61% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

30th percentile

-4.4%

Higher net margin than 30% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

70th percentile

$57,365

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 10.7% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

97th percentile

365%

Faster asset growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

97th percentile

257%

Faster revenue growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$57,427

Up $45,071 (+365%) from 2019

Net Assets

Down

-$10,973

Down $23,329 (-189%) from 2019

Liabilities

Up

$68,400

Up $68,400 from 2019

Revenue

Up

$534,275

Up $384,713 (+257%) from 2019

Expenses

Up

$557,606

Up $412,089 (+283%) from 2019

Net Income

Down

-$23,331

Down $27,376 (-677%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2019: $12,356Liabilities 2019: $0Net Assets 2019: $12,3562019Assets 2020: $57,427Liabilities 2020: $68,400Net Assets 2020: -$10,9732020Assets 2021: $38,039Liabilities 2021: $45,400Net Assets 2021: -$7,3612021Assets 2022: $110,153Liabilities 2022: $35,400Net Assets 2022: $74,7532022Assets 2023: $94,044Liabilities 2023: $28,450Net Assets 2023: $65,5942023Assets 2024: $1,193,175Liabilities 2024: $26,205Net Assets 2024: $1,166,9702024

Highlighted filing

2020

Assets$57,427
Liabilities$68,400
Net Assets-$10,973

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2019: $149,562Expenses 2019: $145,517Net Income 2019: $4,0452019Revenue 2020: $534,275Expenses 2020: $557,606Net Income 2020: -$23,3312020Revenue 2021: $360,467Expenses 2021: $341,355Net Income 2021: $19,1122021Revenue 2022: $663,077Expenses 2022: $588,154Net Income 2022: $74,9232022Revenue 2023: $742,531Expenses 2023: $759,090Net Income 2023: -$16,5592023Revenue 2024: $1,629,658Expenses 2024: $528,282Net Income 2024: $1,101,3762024

Highlighted filing

2020

Revenue$534,275
Expenses$557,606
Net Income-$23,331
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$534,275
Mission and Program Overview

Mission

To foster development, promotion and improvements of the areas designated within its jurisdication.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$11,856$56,927▲ $45,071
Total Assets$12,356$57,427▲ $45,071
Other Assets Total$500$500→ $0
Liabilities
Other Liabilities$0$45,400▲ $45,400
Accounts Payable and Accrued Expenses-$23,000-
Total Liabilities$0$68,400▲ $68,400
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,356$-10,973▼ $23,329
Total Net Assets Fund Balance$12,356$-10,973▼ $23,329
Total Liabilities and Net Assets / Fund Balance$12,356$57,427▲ $45,071
Compensation and Service Providers

Employees

NameTitleOtherTotal
Rick SimonePresident$57,365$57,365

Board Members and Trustees

NameTitle
Armando BiscegliaChairman
Robert ZorabedianVice Chairman
Clara BorgesDirector
Dave ZarellaDirector
Jessica WilkinDirector
Ken TurchettaDirector
Louis DitoroDirector
Chris ChabotSecretary
ROBERT D'AMICOTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Egn ConsultingStaffing And Outdoor Dining Expenses83 JENCKES HILL ROAD, Lincoln, RI 02903$119,488
Revenue and Support

Revenue Composition

Contributions and Grants
$510,375
Program Service Revenue
$23,900
Investment Income
$0
Other Revenue
$0
All Other Contributions
$47,925
Change in Net Assets
$-23,331
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$500,241
Salaries, Compensation, and Employee Benefits$57,365
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$138,454$1,902-$140,356
Current Officers, Directors, Trustees, and Key Employees$57,365--$57,365
Other Expenses$44,578--$44,578
Insurance$3,336$1,062-$4,398
Advertising$800--$800
Office Expenses-$118-$118
Total Functional Expenses$554,524$3,082$0$557,606
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Rick SimonePayments Were Made to Egn Consulting, Which Is Owned by the President.Staffing and Other Services for Outdoor DiningNo$119,488
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sba Loan$45,400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The executive director reviews and approves the form 990.

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 upon request.

Filing and Contact Details

Filer

Filer Name
Federal Hill Commerce Association
EIN
06-1482194
Phone
4014327783
Address
536 ATWELLS AVENUE, PROVIDENCE, RI 02909

Signing Officer

Name
Rick Simone
Title
President
Phone
4014327783
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Simone
Formed
1985
Legal Domicile
Ri
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Mullen Scorpio & Cerilli
Address
67 CEDAR STREET, PROVIDENCE, RI 02903
Preparer
Anthony W Scorpio
Phone
4017513860
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Outdoor dining - heaters: program service expenses 43,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 43,000. Outdoor dining - tents: program service expenses 37,639. Management and general expenses 0. Fundraising expenses 0. Total expenses 37,639. Outdoor dining - food delivery service: program service expenses 23,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,000. Festival expense: program service expenses 22,104. Management and general expenses 0. Fundraising expenses 0. Total expenses 22,104. Landscaping: program service expenses 4,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,000. Music/band entertainment: program service expenses 4,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,000. Decorations: program service expenses 2,350. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,350. Website: program service expenses 1,461. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,461. Miscellaneous: program service expenses 0. Management and general expenses 1,260. Fundraising expenses 0. Total expenses 1,260. Disposal: program service expenses 900. Management and general expenses 0. Fundraising expenses 0. Total expenses 900. Bookkeeping: program service expenses 0. Management and general expenses 500. Fundraising expenses 0. Total expenses 500. Bank charges: program service expenses 0. Management and general expenses 142. Fundraising expenses 0. Total expenses 142.

Raw XML Appendix373 raw XML fields

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/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR REVIEWS AND APPROVES THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OUTDOOR DINING - HEATERS: PROGRAM SERVICE EXPENSES 43,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 43,000. OUTDOOR DINING - TENTS: PROGRAM SERVICE EXPENSES 37,639. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 37,639. OUTDOOR DINING - FOOD DELIVERY SERVICE: PROGRAM SERVICE EXPENSES 23,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 23,000. FESTIVAL EXPENSE: PROGRAM SERVICE EXPENSES 22,104. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 22,104. LANDSCAPING: PROGRAM SERVICE EXPENSES 4,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,000. MUSIC/BAND ENTERTAINMENT: PROGRAM SERVICE EXPENSES 4,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,000. DECORATIONS: PROGRAM SERVICE EXPENSES 2,350. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,350. WEBSITE: PROGRAM SERVICE EXPENSES 1,461. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,461. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 1,260. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,260. DISPOSAL: PROGRAM SERVICE EXPENSES 900. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 900. BOOKKEEPING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 500. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 500. BANK CHARGES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 142. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 142.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt012356
IRS990/TotalAssetsEOYAmt057427
IRS990/TotalAssetsGrp/BOYAmt012356
IRS990/TotalAssetsGrp/EOYAmt057427
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0510375
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03082
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0554524
IRS990/TotalFunctionalExpensesGrp/TotalAmt0557606
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt068400
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt068400
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012356
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-10973
IRS990/TotalOtherCompensationAmt057365
IRS990/TotalProgramServiceExpensesAmt0554524
IRS990/TotalProgramServiceRevenueAmt023900
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt023900
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0534275
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012356
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt057427
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0536 ATWELLS AVENUE
IRS990/USAddress/CityNm0PROVIDENCE
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002909
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.FEDERALHILLPROV.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICK SIMONE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04014327783
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FEDERAL HILL COMMERCE ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0FEDE
ReturnHeader/Filer/EIN0061482194
ReturnHeader/Filer/PhoneNum04014327783
ReturnHeader/Filer/USAddress/AddressLine1Txt0536 ATWELLS AVENUE
ReturnHeader/Filer/USAddress/CityNm0PROVIDENCE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0RI
ReturnHeader/Filer/USAddress/ZIPCd002909
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0050392605
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MULLEN SCORPIO & CERILLI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt067 CEDAR STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PROVIDENCE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0RI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002903
ReturnHeader/PreparerPersonGrp/PhoneNum04017513860
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANTHONY W SCORPIO
ReturnHeader/ReturnTs02021-11-15T15:41:14-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RICK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SIMONE
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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