Civic Intelligence

Summit Downtown Inc.

990 • Fiscal year 2013 • EIN 22-2852638

Jan 01, 2013 to Dec 31, 2013 • Filed on Jul 28, 2014

18 Bank Street No 10807901

(908) 277-6100

Siviq Scores

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

Liabilities / Assets

50th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2013 filings • NTEE S • <$500k nonprofits • Source year 2013

Liabilities / Revenue

51st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2013 filings • NTEE S • <$500k nonprofits • Source year 2013

Net Margin

42nd percentile

-0.9%

Higher net margin than 42% of similar nonprofits.

2013 filings • NTEE S • <$500k nonprofits • Source year 2013

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2013 filings • NTEE S • <$500k nonprofits • Source year 2013

Asset Growth

40th percentile

-2.3%

Faster asset growth than 40% of similar nonprofits.

2013 filings • NTEE S • <$500k nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Down

$134,329

Down $3,143 (-2.3%) from 2012

Net Assets

Down

$134,329

Down $3,143 (-2.3%) from 2012

Liabilities

Flat

$0

Flat from 2012

Revenue

$332,681

No earlier filing loaded for comparison.

Expenses

Up

$335,824

Up $30,857 (+10%) from 2012

Net Income

-$3,143

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2010: $147,686Liabilities 2010: $0Net Assets 2010: $147,6862010Assets 2011: $141,852Liabilities 2011: $0Net Assets 2011: $141,8522011Assets 2012: $137,472Liabilities 2012: $0Net Assets 2012: $137,4722012Assets 2013: $134,329Liabilities 2013: $0Net Assets 2013: $134,3292013Assets 2014: $126,834Liabilities 2014: $0Net Assets 2014: $126,8342014Assets 2015: $125,193Liabilities 2015: $0Net Assets 2015: $125,1932015Assets 2016: $185,871Liabilities 2016: $0Net Assets 2016: $185,8712016Assets 2017: $146,095Liabilities 2017: $0Net Assets 2017: $146,0952017Assets 2018: $242,886Liabilities 2018: $0Net Assets 2018: $242,8862018Assets 2019: $224,196Liabilities 2019: $0Net Assets 2019: $224,1962019Assets 2020: $330,586Liabilities 2020: $0Net Assets 2020: $330,5862020Assets 2021: $362,489Liabilities 2021: $0Net Assets 2021: $362,4892021Assets 2022: $349,234Liabilities 2022: $0Net Assets 2022: $349,2342022Assets 2023: $407,376Liabilities 2023: $0Net Assets 2023: $407,3762023Assets 2024: $433,235Liabilities 2024: $0Net Assets 2024: $433,2352024

Highlighted filing

2013

Assets$134,329
Liabilities$0
Net Assets$134,329

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $252,9672010Expenses 2011: $293,0452011Expenses 2012: $304,9672012Revenue 2013: $332,681Expenses 2013: $335,824Net Income 2013: -$3,1432013Revenue 2014: $317,111Expenses 2014: $324,606Net Income 2014: -$7,4952014Revenue 2015: $321,726Expenses 2015: $323,367Net Income 2015: -$1,6412015Revenue 2016: $409,530Expenses 2016: $348,852Net Income 2016: $60,6782016Revenue 2017: $321,622Expenses 2017: $361,398Net Income 2017: -$39,7762017Revenue 2018: $451,318Expenses 2018: $354,527Net Income 2018: $96,7912018Revenue 2019: $318,051Expenses 2019: $335,036Net Income 2019: -$16,9852019Revenue 2020: $1,266,411Expenses 2020: $1,160,021Net Income 2020: $106,3902020Revenue 2021: $402,534Expenses 2021: $370,631Net Income 2021: $31,9032021Revenue 2022: $439,678Expenses 2022: $452,933Net Income 2022: -$13,2552022Revenue 2023: $518,724Expenses 2023: $460,582Net Income 2023: $58,1422023Revenue 2024: $496,976Expenses 2024: $471,117Net Income 2024: $25,8592024

Highlighted filing

2013

Revenue$332,681
Expenses$335,824
Net Income-$3,143
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jul 28, 2014
Return Version
2013v3.0
Gross Receipts
$332,681
Mission and Program Overview

Mission

To encourage the development and improvement of the business community in the city of summit, nj.

To encourage the development and improvement of the business community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$137,472$134,329▼ $3,143
Total Assets$137,472$134,329▼ $3,143
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Temporarily Rstr Net Assets$137,472$134,329▼ $3,143
Total Net Assets Fund Balance$137,472$134,329▼ $3,143
Total Liabilities and Net Assets / Fund Balance$137,472$134,329▼ $3,143
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$73,267
Program Service Revenue
$259,135
Investment Income
$279
Other Revenue
$0
All Other Contributions
$35,800
Change in Net Assets
$-3,143

Audited Revenue Reconciliation

Revenue per Audited Statements
$332,681
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$332,681
Total Revenue per Form 990
$332,681
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$249,754
Salaries, Compensation, and Employee Benefits$86,070
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$44,278$26,360-$70,638
Current Officers, Directors, Trustees, and Key Employees$39,200$9,800-$49,000
Other Salaries and Wages$30,187--$30,187
Occupancy$2,979$6,951-$9,930
Payroll Taxes$5,850$1,033-$6,883
Office Expenses-$5,442-$5,442
Fees for Services Accounting-$4,000-$4,000
Other Expenses$1,641--$1,641
Information Technology-$1,200-$1,200
Advertising$273--$273
Total Functional Expenses$281,038$54,786$0$335,824

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$335,824
Total Expenses per Audited Statements$335,824
Total Expenses per Form 990$335,824
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Detlef FelschowBoard TreasurerBanker Is a Banking Relationship With Hilltop Community Bank, Where the Board Treasurer Is an OfficerNo-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
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 A, Line 2

The board treasurer is an officer at hilltop community bank. Several other board memebrs also have banking relationships with this local bank. 3 board members also serve as either mayor or council for the city of summit.

Form 990, Part VI, Section B, Line 11

Form 990 was provided to all trustees at a monthly meeting prior to being filed with the service.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and financial information available upon written request.

Filing and Contact Details

Filer

EIN
22-2852638
Phone
9082776100

Signing Officer

Name
Lori Dahl
Title
Secretary
Phone
9082776100
Signed
2014-07-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lori Dahl
Formed
1986
Legal Domicile
Nj
Voting Board Members
19
Independent Board Members
16
Employees
2
Volunteers
115

Preparer

Preparer
Kathleen M Clayton CPA
Phone
7323818887
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The board has an established audit committee to oversee the selection and audit process

Financial Statement Notes

Form X, Line 2

The organization accounts for uncertainty in income taxes using a recognition threshold of more-likely-than not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold is met.

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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/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01033
IRS990/PayrollTaxesGrp/ProgramServicesAmt05850
IRS990/PayrollTaxesGrp/TotalAmt06883
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0LORI DAHL
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0TAX ASSESSMENTS
IRS990/ProgramServiceRevenueGrp/Desc1COMMUNITY PROJECTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0178800
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt180335
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0178800
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt180335
IRS990/ProgSrvcAccomActy2Grp/Desc0COMMUNITY EVENTS AND PROGRAMS
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0187172
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0259135
IRS990/ProgSrvcAccomActy3Grp/Desc0DEBT SERVICE PAID TO THE CITY OF SUMMIT FOR DISTRICT REDEVELOPMENT PROJECT FINANCING
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt066050
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt066941
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0471
IRS990/PYOtherExpensesAmt0238481
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0233175
IRS990/PYRevenuesLessExpensesAmt0-4380
IRS990/PYSalariesCompEmpBnftPaidAmt066486
IRS990/PYTotalExpensesAmt0304967
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0300587
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-3143
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0137472
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0134329
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0153602
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0121316
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0108065
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0101906
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt093653
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0578542
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0279
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0471
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0245
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0292
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0307
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01594
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0279
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0471
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0245
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0292
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0307
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01594
IRS990ScheduleA/InvestmentIncomeCYPct00.00110
IRS990ScheduleA/InvestmentIncomePYPct00.00200
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99890
IRS990ScheduleA/PublicSupportPY509Pct00.99800
IRS990ScheduleA/PublicSupportTotal509Amt01436742
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus1YearAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus2YearsAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus3YearsAmt0168800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus4YearsAmt0153000
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt0858200
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0332402
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0300116
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0286865
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0270706
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0246653
IRS990ScheduleA/Total509Grp/TotalAmt01436742
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0332681
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0300587
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0287110
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0270998
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0246960
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01438336
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0335824
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0332681
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM X, LINE 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0335824
IRS990ScheduleD/TotalRevenuePerForm990Amt0332681
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0332681
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0335824
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0DETLEF FELSCHOW
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD TREASURER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0BANKER IS A BANKING RELATIONSHIP WITH HILLTOP COMMUNITY BANK, WHERE THE BOARD TREASURER IS AN OFFICER
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD TREASURER IS AN OFFICER AT HILLTOP COMMUNITY BANK. SEVERAL OTHER BOARD MEMEBRS ALSO HAVE BANKING RELATIONSHIPS WITH THIS LOCAL BANK. 3 BOARD MEMBERS ALSO SERVE AS EITHER MAYOR OR COUNCIL FOR THE CITY OF SUMMIT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WAS PROVIDED TO ALL TRUSTEES AT A MONTHLY MEETING PRIOR TO BEING FILED WITH THE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL INFORMATION AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD HAS AN ESTABLISHED AUDIT COMMITTEE TO OVERSEE THE SELECTION AND AUDIT PROCESS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.00$0.43$0.50$0.47$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.41$0.00$0.41$0.52$0.46$0.06
2022Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$0.44$0.45$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$0.40$0.37$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$1.27$1.16$0.11
2019Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$0.32$0.34$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$0.45$0.35$0.10
2017Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$0.32$0.36$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.19$0.41$0.35$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.13$0.32$0.32$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.13$0.32$0.32$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.13$0.33$0.34$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.14$0.00$0.14$0.30
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.14$0.00$0.14$0.29
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.15$0.00$0.15$0.25