Civic Intelligence

Toms River Business Development Corporation

990 • Fiscal year 2020 • EIN 06-1667411

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 21, 2021

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

87th percentile

0.64x

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

2020 filings • NTEE S • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

90th percentile

1.33x

Higher debt load relative to revenue than 90% of similar nonprofits.

2020 filings • NTEE S • $500k-$1M nonprofits • Source year 2020

Net Margin

16th percentile

-14%

Higher net margin than 16% of similar nonprofits.

2020 filings • NTEE S • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

43rd percentile

$0

Higher top officer pay than 43% of similar nonprofits.

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

2020 filings • NTEE S • $500k-$1M nonprofits • Source year 2020

Asset Growth

26th percentile

-3.1%

Faster asset growth than 26% of similar nonprofits.

2020 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

33rd percentile

-15%

Faster revenue growth than 33% of similar nonprofits.

2020 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$713,474

Down $23,016 (-3.1%) from 2019

Net Assets

Down

$257,055

Down $47,355 (-16%) from 2019

Liabilities

Up

$456,419

Up $24,339 (+5.6%) from 2019

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin16th percentile

Revenue

Down

$344,462

Down $62,146 (-15%) from 2019

Expenses

Up

$391,816

Up $13,883 (+3.7%) from 2019

Net Income

Down

-$47,354

Down $76,029 (-265%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2020

Assets$713,474
Liabilities$456,419
Net Assets$257,055
Open 2020 Filing

Operations Trend

Revenue Growth33rd 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

2020

Revenue$344,462
Expenses$391,816
Net Income-$47,354
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 21, 2021
Return Version
2020v4.0
Gross Receipts
$349,450
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$649,640$640,451▼ $9,189
Cash and Non-Interest-Bearing Accounts$86,850$73,023▼ $13,827
Total Assets$736,490$713,474▼ $23,016
Liabilities
Mortgage Notes Payable Secured by Investment Property$422,047$405,305▼ $16,742
Other Liabilities$7,912$46,175▲ $38,263
Accounts Payable and Accrued Expenses$2,121$4,939▲ $2,818
Total Liabilities$432,080$456,419▲ $24,339
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$304,410$257,055▼ $47,355
Total Net Assets Fund Balance$304,410$257,055▼ $47,355
Total Liabilities and Net Assets / Fund Balance$736,490$713,474▼ $23,016

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$651,471-$651,471
Land$200,000-$200,000
Equipment$-211,020$211,020-
Compensation and Service Providers
Top Officer Pay43rd percentile

Board Members and Trustees

NameTitle
Robert SheaChairman
William BeiningVice Chairma
Daniele SzczypinskiDirector
Danielle NorcrossDirector
Dean GresekDirector
Gabriel GillenDirector
Georgette KyriacouDirector
John BrownDirector
Mary Jo BuchananDirector
Maurice HillDirector
Sue QuinnDirector
Tony AgliataDirector
Tom ForgioneCorrespondin
Mike LittleOwner Direct
Pam PinerOwner Direct
Michael HovanceRecording Se
Lee PeltonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$15,075
Program Service Revenue
$324,819
Investment Income
$4,568
Other Revenue
$0
Change in Net Assets
$-47,354

Audited Revenue Reconciliation

Revenue per Audited Statements
$344,462
Total Revenue per Audited Statements
$344,462
Total Revenue per Form 990
$344,462
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$199,170
Other Expenses$185,146
Grants and Similar Amounts Paid$7,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$115,134$68,415-$183,549
Interest$16,941$5,647-$22,588
Insurance$13,597$4,525-$18,122
Office Expenses$13,440$3,331-$16,771
Payroll Taxes$12,887$2,734-$15,621
Depreciation Depletion$15,287--$15,287
All Other Expenses$9,136$4,703-$13,839
Advertising$13,093--$13,093
Occupancy$8,380$3,953-$12,333
Fees for Services Accounting-$11,849-$11,849
Grants to Domestic Individuals$7,500--$7,500
Other Expenses$8,395$7,203-$7,203
Information Technology$3,598$1,289-$4,887
Conferences and Meetings$28--$28
Total Functional Expenses$278,167$113,649$0$391,816

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$391,817
Expenses per Audited Statements$391,816
Total Expenses per Form 990$391,816
Expenses Not Reported on Form 990$1
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
Refundable Advance$38,367
Security Deposits Held$5,750
Credit Cards$2,058
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
2021-10-21
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.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference -1”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“Book / tax depreciation difference 1”

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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/OtherExpensesGrp/Desc2DECORATIONS/SIGNS
IRS990/OtherExpensesGrp/Desc3TELEPHONE & INTERNET
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IRS990/OtherExpensesGrp/ProgramServicesAmt19924
IRS990/OtherExpensesGrp/ProgramServicesAmt28395
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IRS990/PayrollTaxesGrp/ProgramServicesAmt012887
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0LEE PELTON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0TAX ASSESSMENT REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1INCUBATOR INCOME
IRS990/ProgramServiceRevenueGrp/Desc2DOWNTOWN EVENTS
IRS990/ProgramServiceRevenueGrp/Desc3FILM FEST
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt123007
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt221484
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3328
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt123007
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt221484
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IRS990/PYTotalRevenueAmt0406608
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0200000
IRS990ScheduleD/OtherExpensesIncludedAmt01
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0651471
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15750
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22058
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REFUNDABLE ADVANCE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS HELD
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CREDIT CARDS
IRS990ScheduleD/RevenueSubtotalAmt0344462
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK / TAX DEPRECIATION DIFFERENCE 1
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalExpensesPerForm990Amt0391816
IRS990ScheduleD/TotalLiabilityAmt046175
IRS990ScheduleD/TotalRevenuePerForm990Amt0344462
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FACADE GRANT
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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/ExplanationTxt6BOOK / TAX DEPRECIATION DIFFERENCE -1
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0713474
IRS990/TotalAssetsGrp/BOYAmt0736490
IRS990/TotalAssetsGrp/EOYAmt0713474
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt015075
IRS990/TotalEmployeeCnt06

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$713,474
Liabilities
$456,419
Net assets
$257,055
Revenue
$344,462
Expenses
$391,816
Net income
-$47,354
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
2020Detailed filing. Detailed filing data is available for this year.$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