Civic Intelligence

Summit Downtown Inc.

990 • Fiscal year 2014 • EIN 22-2852638

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 02, 2015

18 Bank Street No 108Summit, NJ 07901

(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.

2014 filings • NTEE S • <$500k nonprofits • Source year 2014

Liabilities / Revenue

49th percentile

0.00x

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

2014 filings • NTEE S • <$500k nonprofits • Source year 2014

Net Margin

35th percentile

-2.4%

Higher net margin than 35% of similar nonprofits.

2014 filings • NTEE S • <$500k nonprofits • Source year 2014

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.

2014 filings • NTEE S • <$500k nonprofits • Source year 2014

Asset Growth

31st percentile

-5.6%

Faster asset growth than 31% of similar nonprofits.

2014 filings • NTEE S • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

40th percentile

-4.7%

Faster revenue growth than 40% of similar nonprofits.

2014 filings • NTEE S • <$500k nonprofits • Annualized from 2013 to 2014

Assets

Down

$126,834

Down $7,495 (-5.6%) from 2013

Net Assets

Down

$126,834

Down $7,495 (-5.6%) from 2013

Liabilities

Flat

$0

Flat from 2013

Revenue

Down

$317,111

Down $15,570 (-4.7%) from 2013

Expenses

Down

$324,606

Down $11,218 (-3.3%) from 2013

Net Income

Down

-$7,495

Down $4,352 (-138%) from 2013

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

2014

Assets$126,834
Liabilities$0
Net Assets$126,834

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

2014

Revenue$317,111
Expenses$324,606
Net Income-$7,495
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 2, 2015
Return Version
2014v5.0
Gross Receipts
$317,111
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$134,329$126,834▼ $7,495
Total Assets$134,329$126,834▼ $7,495
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Temporarily Rstr Net Assets$134,329$126,834▼ $7,495
Total Net Assets Fund Balance$134,329$126,834▼ $7,495
Total Liabilities and Net Assets / Fund Balance$134,329$126,834▼ $7,495
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$52,029
Program Service Revenue
$264,743
Investment Income
$339
Other Revenue
$0
All Other Contributions
$16,892
Change in Net Assets
$-7,495

Audited Revenue Reconciliation

Revenue per Audited Statements
$317,111
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$317,111
Total Revenue per Form 990
$317,111
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$230,744
Salaries, Compensation, and Employee Benefits$93,862
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$62,605$36,768-$99,373
Current Officers, Directors, Trustees, and Key Employees$43,200$10,800-$54,000
Other Salaries and Wages$32,563--$32,563
Occupancy$2,563$5,980-$8,543
Payroll Taxes$6,204$1,095-$7,299
Office Expenses-$4,440-$4,440
Fees for Services Accounting-$4,000-$4,000
Other Expenses$1,930--$1,930
Information Technology-$1,200-$1,200
Advertising$15--$15
Total Functional Expenses$260,323$64,283$0$324,606

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$324,606
Total Expenses per Audited Statements$324,606
Total Expenses per Form 990$324,606
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
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
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
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

3 board memebrs also serve as elected officials for the city of summit.

Form 990, Part VI, Section B, Line 11

Form 990 was provided to all trustees.

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

Filer Name
Summit Downtown Inc
EIN
22-2852638
Phone
9082776100
Address
18 BANK STREET NO 108, SUMMIT, NJ 07901

Signing Officer

Name
Lori Dahl
Title
Treasurer
Phone
9082776100
Signed
2015-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lori Dahl
Formed
1986
Legal Domicile
Nj
Voting Board Members
16
Independent Board Members
16
Employees
3
Volunteers
115

Preparer

Firm
Spire Group Pc
Address
100 WALNUT AVE SUITE 103, CLARK, NJ 07066
Preparer
Kathleen M Clayton CPA
Phone
7323818887
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The board's treasurer oversees the selection and audit process

Financial Statement Notes

PART 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. Management determined there were no tax uncertainties that met the recognition threshold in 2014.

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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IRS990/ProgSrvcAccomActy3Grp/Desc0DEBT SERVICE PAID TO THE CITY OF SUMMIT FOR DISTRICT REDEVELOPMENT PROJECT FINANCING
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt063950
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt073267
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0279
IRS990/PYOtherExpensesAmt0249754
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0259135
IRS990/PYRevenuesLessExpensesAmt0-3143
IRS990/PYSalariesCompEmpBnftPaidAmt086070
IRS990/PYTotalExpensesAmt0335824
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0332681
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-7495
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0134329
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0126834
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0137972
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0153602
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0121316
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0108065
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0101906
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0622861
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0339
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0279
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0471
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0245
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0292
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01626
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0339
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0279
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0471
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0245
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0292
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01626
IRS990ScheduleA/InvestmentIncomeCYPct00.00110
IRS990ScheduleA/InvestmentIncomePYPct00.00110
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99890
IRS990ScheduleA/PublicSupportPY509Pct00.99890
IRS990ScheduleA/PublicSupportTotal509Amt01506861
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus1YearAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus2YearsAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus3YearsAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus4YearsAmt0168800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt0884000
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0316772
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0332402
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0300116
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0286865
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0270706
IRS990ScheduleA/Total509Grp/TotalAmt01506861
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0317111
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0332681
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0300587
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0287110
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0270998
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01508487
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0324606
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0317111
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. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN 2014.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE 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/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM X, LINE 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0324606
IRS990ScheduleD/TotalRevenuePerForm990Amt0317111
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0317111
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0324606
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt03 BOARD MEMEBRS ALSO SERVE AS ELECTED OFFICIALS FOR THE CITY OF SUMMIT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WAS PROVIDED TO ALL TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL INFORMATION AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD'S TREASURER OVERSEES 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
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0134329
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0126834
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0134329
IRS990/TotalAssetsEOYAmt0126834
IRS990/TotalAssetsGrp/BOYAmt0134329
IRS990/TotalAssetsGrp/EOYAmt0126834
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt052029
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt064283
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0260323
IRS990/TotalFunctionalExpensesGrp/TotalAmt0324606
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00

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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