Civic Intelligence

Summit Downtown Inc.

990 • Fiscal year 2016 • EIN 22-2852638

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 02, 2017

Organization ProfileWWW.SUMMITDOWNTOWN.ORG

View Organization Page

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

54th percentile

0.00x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

54th percentile

0.00x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

71st percentile

15%

Higher net margin than 71% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

84th percentile

48%

Faster asset growth than 84% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

78th percentile

27%

Faster revenue growth than 78% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$185,871

Up $60,678 (+48%) from 2015

Net Assets

Up

$185,871

Up $60,678 (+48%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin71st percentile

Revenue

Up

$409,530

Up $87,804 (+27%) from 2015

Expenses

Up

$348,852

Up $25,485 (+7.9%) from 2015

Net Income

Up

$60,678

Up $62,319 (+3798%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

2016

Assets$185,871
Liabilities$0
Net Assets$185,871
Open 2016 Filing

Operations Trend

Revenue Growth78th percentile

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

2016

Revenue$409,530
Expenses$348,852
Net Income$60,678
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 2, 2017
Return Version
2016v3.0
Gross Receipts
$409,530
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$125,193$185,871▲ $60,678
Total Assets$125,193$185,871▲ $60,678
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Temporarily Rstr Net Assets$125,193$185,871▲ $60,678
Total Net Assets Fund Balance$125,193$185,871▲ $60,678
Total Liabilities and Net Assets / Fund Balance$125,193$185,871▲ $60,678
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Tony MelchionnaChairman
Kevin SmallwoodV.chair
Andrew GenualdiTrustee
Beth WelshTrustee
Bob ConwayTrustee
Michael RogersTrustee
Nora RadestTrustee
Pat AngeloTrustee
Richard SunTrustee
Sandy LizzaTrustee
Susan TaylorSecretary
Lori DahlTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$73,390
Program Service Revenue
$335,841
Investment Income
$299
Other Revenue
$0
All Other Contributions
$24,555
Change in Net Assets
$60,678

Audited Revenue Reconciliation

Revenue per Audited Statements
$409,530
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$409,530
Total Revenue per Form 990
$409,530
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$202,804
Salaries, Compensation, and Employee Benefits$146,048
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$63,000$7,000-$70,000
Other Salaries and Wages$58,000$6,445-$64,445
Occupancy$7,755$18,096-$25,851
Fees for Services Other$14,742$9,799-$24,541
Payroll Taxes$10,443$1,160-$11,603
Office Expenses-$8,428-$8,428
Fees for Services Accounting-$4,020-$4,020
All Other Expenses$3,800--$3,800
Other Expenses$2,203--$2,203
Insurance-$1,461-$1,461
Information Technology-$1,200-$1,200
Advertising-$1,065-$1,065
Total Functional Expenses$290,178$58,674$0$348,852

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$348,852
Total Expenses per Audited Statements$348,852
Total Expenses per Form 990$348,852
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
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 11B

“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
Tony Melchionna
Title
Chairman
Phone
9082776100
Signed
2017-10-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tony Melchionna
Formed
1986
Legal Domicile
Nj
Voting Board Members
12
Independent Board Members
12
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

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 2016.”

Raw XML AppendixShowing 400 of 432 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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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0137972
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0153602
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0121316
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0716366
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0299
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0280
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0339
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0279
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0471
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01668
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0299
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0280
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0339
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0279
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0471
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01668
IRS990ScheduleA/InvestmentIncomeCYPct00.00100
IRS990ScheduleA/InvestmentIncomePYPct00.00100
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99900
IRS990ScheduleA/PublicSupportPY509Pct00.99900
IRS990ScheduleA/PublicSupportTotal509Amt01679967
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearAmt0247201
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus1YearAmt0180000
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus2YearsAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus3YearsAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus4YearsAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt0963601
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0316772
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0332402
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0300116
IRS990ScheduleA/Total509Grp/TotalAmt01679967
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0409530
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0321726
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0317111
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0332681
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0300587
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01681635
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0348852
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0409530
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 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0348852
IRS990ScheduleD/TotalRevenuePerForm990Amt0409530
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0409530
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0348852
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/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt0125193
IRS990/TotalAssetsGrp/EOYAmt0185871
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt073390
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt058674
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0290178
IRS990/TotalFunctionalExpensesGrp/TotalAmt0348852
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0125193
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0185871
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0290178
IRS990/TotalProgramServiceRevenueAmt0335841
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0299
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0335841
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0409530
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0115
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0125193
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0185871
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt018 BANK STREET NO 108
IRS990/USAddress/CityNm0SUMMIT
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007901
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.SUMMITDOWNTOWN.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TONY MELCHIONNA

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$185,871
Liabilities
$0
Net assets
$185,871
Revenue
$409,530
Expenses
$348,852
Net income
$60,678
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