Civic Intelligence

Summit Downtown Inc.

990 • Fiscal year 2018 • EIN 22-2852638

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 29, 2019

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

51st percentile

0.00x

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

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Liabilities / Revenue

50th percentile

0.00x

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

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Net Margin

78th percentile

21%

Higher net margin than 78% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Asset Growth

90th percentile

66%

Faster asset growth than 90% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

84th percentile

40%

Faster revenue growth than 84% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$242,886

Up $96,791 (+66%) from 2017

Net Assets

Up

$242,886

Up $96,791 (+66%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin78th percentile

Revenue

Up

$451,318

Up $129,696 (+40%) from 2017

Expenses

Down

$354,527

Down $6,871 (-1.9%) from 2017

Net Income

Up

$96,791

Up $136,567 (+343%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth90th 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

2018

Assets$242,886
Liabilities$0
Net Assets$242,886
Open 2018 Filing

Operations Trend

Revenue Growth84th 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

2018

Revenue$451,318
Expenses$354,527
Net Income$96,791
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 29, 2019
Return Version
2018v3.1
Gross Receipts
$451,318
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$146,095$242,886▲ $96,791
Total Assets$146,095$242,886▲ $96,791
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Temporarily Rstr Net Assets$146,095$242,886▲ $96,791
Total Net Assets Fund Balance$146,095$242,886▲ $96,791
Total Liabilities and Net Assets / Fund Balance$146,095$242,886▲ $96,791
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Bob ConwayChair
Andrew GenualdiTrustee
Beth LittleTrustee
Beth WalshTrustee
David GittlemanTrustee
Joe HamiltonTrustee
Karen SchneiderTrustee
Michael RogersTrustee
Nora RadestTrustee
Pat AngeloTrustee
Steve BowmanTrustee
Susan AlexanderTrustee
Tony MelchionnaTrustee
Claire TothTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$9,577
Program Service Revenue
$439,468
Investment Income
$86
Other Revenue
$2,187
All Other Contributions
$9,577
Change in Net Assets
$96,791

Audited Revenue Reconciliation

Revenue per Audited Statements
$451,318
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$451,318
Total Revenue per Form 990
$451,318
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$198,152
Salaries, Compensation, and Employee Benefits$156,375
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$62,411$18,119-$80,530
Other Salaries and Wages$43,362$12,589-$55,951
Advertising-$35,426-$35,426
Fees for Services Other$2,750$28,558-$31,308
Occupancy-$14,273-$14,273
Payroll Taxes$10,052$2,918-$12,970
Office Expenses-$11,851-$11,851
Other Expenses$2,018$5,541-$7,559
All Other Expenses$1,080$5,936-$7,016
Other Employee Benefits$5,366$1,558-$6,924
Fees for Services Accounting-$4,055-$4,055
Insurance-$1,457-$1,457
Conferences and Meetings-$423-$423
Total Functional Expenses$127,039$227,488$0$354,527

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$354,527
Total Expenses per Audited Statements$354,527
Total Expenses per Form 990$354,527
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
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
Bob Conway
Title
Chairman
Phone
9082776100
Signed
2019-07-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bob Conway
Formed
1986
Legal Domicile
Nj
Voting Board Members
14
Independent Board Members
14
Employees
4
Volunteers
120

Preparer

Firm
Hill Barth & King LLC
Address
100 WALNUT AVENUE, CLARK, NJ 07066
Preparer
Kathleen M Clayton CPA
Phone
7323818887
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The review process has not changed from the prior year.”

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 2018.”

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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/ProgSrvcAccomActy2Grp/ExpenseAmt0115771
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0431467
IRS990/ProgSrvcAccomActy3Grp/Desc0DEBT SERVICE PAID TO THE CITY OF SUMMIT FOR DISTRICT REDEVELOPMENT PROJECT FINANCING
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt010188
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt010188
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt012096
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0168
IRS990/PYOtherExpensesAmt0195973
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0309358
IRS990/PYRevenuesLessExpensesAmt0-39776
IRS990/PYSalariesCompEmpBnftPaidAmt0165425
IRS990/PYTotalExpensesAmt0361398
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0321622
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt096791
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0146095
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0242886
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0123718
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0126454
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0162030
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0141446
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0137972
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0691620
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt086
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0168
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0299
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0280
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0339
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01172
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt086
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0168
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0299
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0280
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0339
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01172
IRS990ScheduleA/InvestmentIncomeCYPct00.00060
IRS990ScheduleA/InvestmentIncomePYPct00.00080
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99940
IRS990ScheduleA/PublicSupportPY509Pct00.99920
IRS990ScheduleA/PublicSupportTotal509Amt01820221
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearAmt0327600
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus1YearAmt0195000
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus2YearsAmt0247201
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus3YearsAmt0180000
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus4YearsAmt0178800
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt01128601
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0451318
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0321454
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0409231
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0321446
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0316772
IRS990ScheduleA/Total509Grp/TotalAmt01820221
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0451404
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0321622
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0409530
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0321726
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0317111
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01821393
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0354527
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0451318
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 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0354527
IRS990ScheduleD/TotalRevenuePerForm990Amt0451318
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0451318
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0354527
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 REVIEW PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0146095
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0242886
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0146095
IRS990/TotalAssetsEOYAmt0242886
IRS990/TotalAssetsGrp/BOYAmt0146095
IRS990/TotalAssetsGrp/EOYAmt0242886
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt09577
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0227488
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0127039
IRS990/TotalFunctionalExpensesGrp/TotalAmt0354527
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0146095
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0242886
IRS990/TotalOtherCompensationAmt00

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$242,886
Liabilities
$0
Net assets
$242,886
Revenue
$451,318
Expenses
$354,527
Net income
$96,791
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