Civic Intelligence

Summit Downtown Inc.

990 • Fiscal year 2020 • EIN 22-2852638

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 24, 2021

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

9th percentile

0.00x

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

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

8th percentile

0.00x

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

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Net Margin

56th percentile

8.4%

Higher net margin than 56% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Asset Growth

86th percentile

47%

Faster asset growth than 86% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

96th percentile

298%

Faster revenue growth than 96% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$330,586

Up $106,390 (+47%) from 2019

Net Assets

Up

$330,586

Up $106,390 (+47%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin56th percentile

Revenue

Up

$1,266,411

Up $948,360 (+298%) from 2019

Expenses

Up

$1,160,021

Up $824,985 (+246%) from 2019

Net Income

Up

$106,390

Up $123,375 (+726%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth86th 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

2020

Assets$330,586
Liabilities$0
Net Assets$330,586
Open 2020 Filing

Operations Trend

Revenue Growth96th 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

2020

Revenue$1,266,411
Expenses$1,160,021
Net Income$106,390
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 24, 2021
Return Version
2020v4.1
Gross Receipts
$1,269,965
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$224,196$330,586▲ $106,390
Total Assets$224,196$330,586▲ $106,390
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$224,196$306,610▲ $82,414
Net Assets Without Donor Restrictions-$23,976-
Total Net Assets Fund Balance$224,196$330,586▲ $106,390
Total Liabilities and Net Assets / Fund Balance$224,196$330,586▲ $106,390
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Bob ConwayChair
Allison DaubelTrustee
Joe HamiltonTrustee
Karen SchneiderTrustee
Lauren DeckerTrustee
Leslie E HermanTrustee
Matthew StraussTrustee
Ray MerrittTrustee
Tony MelchionnaTrustee
Claire TothTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$835,926
Program Service Revenue
$429,445
Investment Income
$188
Other Revenue
$852
All Other Contributions
$715,926
Change in Net Assets
$106,390
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$808,950
Other Expenses$181,928
Salaries, Compensation, and Employee Benefits$169,143
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$808,950--$808,950
Other Salaries and Wages-$144,144-$144,144
Fees for Services Other$91,402$6,994-$98,396
Payroll Taxes-$14,069-$14,069
Pension Plan Contributions-$10,379-$10,379
Occupancy-$8,998-$8,998
Insurance-$6,747-$6,747
Other Expenses$22,625$5,936-$5,936
Fees for Services Accounting-$4,280-$4,280
Information Technology-$2,182-$2,182
Office Expenses-$1,780-$1,780
Other Employee Benefits-$551-$551
Payment Travel Entrtnmnt Publicly Ofcl-$495-$495
Total Functional Expenses$953,466$206,555$0$1,160,021
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
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
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
2021-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bob Conway
Formed
1986
Legal Domicile
Nj
Voting Board Members
10
Independent Board Members
10
Employees
5
Volunteers
100

Preparer

Firm
Hill Barth & King LLC
Address
100 WALNUT AVENUE, 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 2018.”

Raw XML AppendixShowing 400 of 430 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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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:
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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
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Filings

Displayed year

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

Open filing
Assets
$330,586
Liabilities
$0
Net assets
$330,586
Revenue
$1,266,411
Expenses
$1,160,021
Net income
$106,390
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