Civic Intelligence

Toms River Business Development Corporation

990 • Fiscal year 2019 • EIN 06-1667411

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 12, 2020

Organization ProfileWWW.DOWNTOWNTOMSRIVER.COM
53 Main StreetToms River, NJ 08753

(732) 341-8738

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.59x

Higher debt load relative to assets than 83% of similar nonprofits.

2019 filings • NTEE S • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

89th percentile

1.06x

Higher debt load relative to revenue than 89% of similar nonprofits.

2019 filings • NTEE S • $500k-$1M nonprofits • Source year 2019

Net Margin

57th percentile

7.1%

Higher net margin than 57% of similar nonprofits.

2019 filings • NTEE S • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

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

2019 filings • NTEE S • $500k-$1M nonprofits • Source year 2019

Asset Growth

18th percentile

-9.3%

Faster asset growth than 18% of similar nonprofits.

2019 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

46th percentile

1.4%

Faster revenue growth than 46% of similar nonprofits.

2019 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$736,490

Down $75,282 (-9.3%) from 2018

Net Assets

Up

$304,410

Up $43,921 (+17%) from 2018

Liabilities

Down

$432,080

Down $119,203 (-22%) from 2018

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin57th percentile

Revenue

Up

$406,608

Up $5,527 (+1.4%) from 2018

Expenses

Down

$377,933

Down $3,678 (-1.0%) from 2018

Net Income

Up

$28,675

Up $9,205 (+47%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$1.0M$500K$0Assets 2011: $182,887Liabilities 2011: $28,148Net Assets 2011: $154,7392011Assets 2012: $133,650Liabilities 2012: $24,137Net Assets 2012: $109,5132012Assets 2013: $141,191Liabilities 2013: $28,289Net Assets 2013: $112,9022013Assets 2014: $166,712Liabilities 2014: $17,339Net Assets 2014: $149,3732014Assets 2015: $742,508Liabilities 2015: $584,130Net Assets 2015: $158,3782015Assets 2016: $748,596Liabilities 2016: $539,624Net Assets 2016: $208,9722016Assets 2017: $768,143Liabilities 2017: $527,124Net Assets 2017: $241,0192017Assets 2018: $811,772Liabilities 2018: $551,283Net Assets 2018: $260,4892018Assets 2019: $736,490Liabilities 2019: $432,080Net Assets 2019: $304,4102019Assets 2020: $713,474Liabilities 2020: $456,419Net Assets 2020: $257,0552020Assets 2021: $860,636Liabilities 2021: $507,400Net Assets 2021: $353,2362021Assets 2022: $812,700Liabilities 2022: $484,391Net Assets 2022: $328,3092022Assets 2023: $761,985Liabilities 2023: $477,324Net Assets 2023: $284,6612023Assets 2024: $723,980Liabilities 2024: $445,866Net Assets 2024: $278,1142024

Highlighted filing

2019

Assets$736,490
Liabilities$432,080
Net Assets$304,410
Open 2019 Filing

Operations Trend

Revenue Growth46th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $338,012Expenses 2011: $323,395Net Income 2011: $14,6172011Revenue 2012: $357,050Expenses 2012: $402,276Net Income 2012: -$45,2262012Revenue 2013: $365,103Expenses 2013: $361,714Net Income 2013: $3,3892013Revenue 2014: $383,536Expenses 2014: $356,853Net Income 2014: $26,6832014Revenue 2015: $388,442Expenses 2015: $379,437Net Income 2015: $9,0052015Revenue 2016: $377,087Expenses 2016: $326,493Net Income 2016: $50,5942016Revenue 2017: $381,249Expenses 2017: $349,202Net Income 2017: $32,0472017Revenue 2018: $401,081Expenses 2018: $381,611Net Income 2018: $19,4702018Revenue 2019: $406,608Expenses 2019: $377,933Net Income 2019: $28,6752019Revenue 2020: $344,462Expenses 2020: $391,816Net Income 2020: -$47,3542020Revenue 2021: $541,555Expenses 2021: $445,374Net Income 2021: $96,1812021Revenue 2022: $438,450Expenses 2022: $463,377Net Income 2022: -$24,9272022Revenue 2023: $424,649Expenses 2023: $468,297Net Income 2023: -$43,6482023Revenue 2024: $411,246Expenses 2024: $417,793Net Income 2024: -$6,5472024

Highlighted filing

2019

Revenue$406,608
Expenses$377,933
Net Income$28,675
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 12, 2020
Return Version
2019v5.0
Gross Receipts
$406,608
Mission and Program Overview

Mission

The organization's mission or most significant activities are to enhance the economic viability of the downtown toms river business district. The organization was established by a supplement to the :code of the township of toms river" adding chapter 440, speical improvement dsitrict designated and district management corporation established.

The organization's mission or most significant activities are to enhance the economic viability of the downtown toms river business district. The organization was established by a supplement to the :code of the township of toms river" adding chapter 440, special improvement district designated and district management corporation established.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$659,607$649,640▼ $9,967
Cash and Non-Interest-Bearing Accounts$68,546$86,850▲ $18,304
Total Assets$728,153$736,490▲ $8,337
Liabilities
Mortgage Notes Payable Secured by Investment Property$444,947$422,047▼ $22,900
Other Liabilities$4,600$7,912▲ $3,312
Accounts Payable and Accrued Expenses$2,871$2,121▼ $750
Total Liabilities$452,418$432,080▼ $20,338
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$275,735$304,410▲ $28,675
Total Net Assets Fund Balance$275,735$304,410▲ $28,675
Total Liabilities and Net Assets / Fund Balance$728,153$736,490▲ $8,337

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$449,640$199,496$649,136
Land$200,000-$200,000
Compensation and Service Providers
Top Officer Pay46th percentile

Board Members and Trustees

NameTitle
Robert SheaChairman
William BeiningVice Chairma
Albert VeltriBusiness Director
Tom ForgioneBusiness Director
Daniele SzczypinskiDirector
Danielle NorcrossDirector
Dean GresekDirector
Gabriel GillenDirector
Georgette KyriacouDirector
John BrownDirector
Mairin BellackDirector
Mary Jo BuchananDirector
Maurice HillDirector
Nick MusumeciDirector
Noelle CarinoDirector
Sue QuinnDirector
Ted MaturoDirector
Thomas KelaherDirector
Tony AgliataDirector
Michael HovanceCorrespondin
Debra L ChallonerOwner Direct
Mike LittleOwner Direct
Pam PinerRecording Se
Lee PeltonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$24,070
Program Service Revenue
$382,381
Investment Income
$157
Other Revenue
$0
All Other Contributions
$9,500
Change in Net Assets
$28,675

Audited Revenue Reconciliation

Revenue per Audited Statements
$406,608
Total Revenue per Audited Statements
$406,608
Total Revenue per Form 990
$406,608
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$198,025
Other Expenses$179,908
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$114,756$67,753-$182,509
Advertising$17,174--$17,174
Interest$12,290$4,097-$16,387
All Other Expenses$12,551$3,075-$15,626
Payroll Taxes$12,801$2,715-$15,516
Depreciation Depletion$13,919$1,547-$15,466
Office Expenses$12,778$2,242-$15,020
Occupancy$10,078$4,676-$14,754
Insurance$9,394$3,126-$12,520
Other Expenses$8,943$7,332-$7,332
Information Technology$5,791$630-$6,421
Fees for Services Accounting-$5,217-$5,217
Conferences and Meetings$930--$930
Travel$238--$238
Total Functional Expenses$275,523$102,410$0$377,933

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$377,933
Total Expenses per Audited Statements$377,933
Total Expenses per Form 990$377,933
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits Held$6,525
Credit Cards$1,387
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

“The executive director reviews form 990 in detail and the board approves prior to submission.”

Form 990, Page 6, Part VI, Line 12C

“Review and approved by board prior to filing.”

Form 990, Page 6, Part VI, Line 15A

“Compensation is reviewed and approved by board.”

Form 990, Page 6, Part VI, Line 15B

“Compensation is reviewed and approved by board.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available for public inspection at the organization's corporate address during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Toms River Business Development
EIN
06-1667411
Phone
7323418738
Address
53 MAIN STREET, TOMS RIVER, NJ 08753
Doing Business As
Toms River Business Development

Signing Officer

Name
Lee Pelton
Title
Treasurer
Phone
7323418738
Signed
2020-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lee Pelton
Formed
2002
Voting Board Members
18
Independent Board Members
18
Employees
6

Preparer

Firm
Matthew K Varley CPA LLC
Address
108 COMMONS WAY, TOMS RIVER, NJ 08755
Preparer
Matthew K Varley
Phone
7323417766
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization's mission or most significant activities are to enhance the economic viability of the downtown toms river business district. The organization was established by a supplement to the :code of the township of toms river" adding chapter 440, special improvement district designated and district management corporation established.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt19RECORDING SE
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23BUSINESS DIR
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IRS990/MissionDesc0THE ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES ARE TO ENHANCE THE ECONOMIC VIABILITY OF THE DOWNTOWN TOMS RIVER BUSINESS DISTRICT. THE ORGANIZATION WAS ESTABLISHED BY A SUPPLEMENT TO THE :CODE OF THE TOWNSHIP OF TOMS RIVER" ADDING CHAPTER 440, SPECIAL IMPROVEMENT DISTRICT DESIGNATED AND DISTRICT MANAGEMENT CORPORATION ESTABLISHED.
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IRS990/OtherExpensesGrp/Desc2DECORATIONS/SIGNS
IRS990/OtherExpensesGrp/Desc3TELEPHONE & INTERNET
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IRS990/PrincipalOfficerNm0LEE PELTON
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc2INCUBATOR INCOME
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CREDIT CARDS
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IRS990ScheduleD/TotalExpensesPerForm990Amt0377933
IRS990ScheduleD/TotalLiabilityAmt07912
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES ARE TO ENHANCE THE ECONOMIC VIABILITY OF THE DOWNTOWN TOMS RIVER BUSINESS DISTRICT. THE ORGANIZATION WAS ESTABLISHED BY A SUPPLEMENT TO THE :CODE OF THE TOWNSHIP OF TOMS RIVER" ADDING CHAPTER 440, SPECIAL IMPROVEMENT DISTRICT DESIGNATED AND DISTRICT MANAGEMENT CORPORATION ESTABLISHED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR REVIEWS FORM 990 IN DETAIL AND THE BOARD APPROVES PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEW AND APPROVED BY BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION IS REVIEWED AND APPROVED BY BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION IS REVIEWED AND APPROVED BY BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S CORPORATE ADDRESS DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$736,490
Liabilities
$432,080
Net assets
$304,410
Revenue
$406,608
Expenses
$377,933
Net income
$28,675
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.24$4.46$2.78$4.11$4.18$0.07
2023Detailed filing. Detailed filing data is available for this year.$7.62$4.77$2.85$4.25$4.68$0.44
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.13$4.84$3.28$4.38$4.63$0.25
2021Detailed filing. Detailed filing data is available for this year.$8.61$5.07$3.53$5.42$4.45$0.96
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.13$4.56$2.57$3.44$3.92$0.47
2019Detailed filing. Detailed filing data is available for this year.$7.36$4.32$3.04$4.07$3.78$0.29
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.12$5.51$2.60$4.01$3.82$0.19
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.68$5.27$2.41$3.81$3.49$0.32
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.49$5.40$2.09$3.77$3.26$0.51
2015Detailed filing. Detailed filing data is available for this year.$7.43$5.84$1.58$3.88$3.79$0.09
2014Detailed filing. Detailed filing data is available for this year.$1.67$0.17$1.49$3.84$3.57$0.27
2013Summary only. Only limited summary data is available for this year.$1.41$0.28$1.13$3.65$3.62$0.03
2012Summary only. Only limited summary data is available for this year.$1.34$0.24$1.10$3.57$4.02$0.45
2011Summary only. Only limited summary data is available for this year.$1.83$0.28$1.55$3.38$3.23$0.15