Civic Intelligence

Summit Downtown Inc.

990 • Fiscal year 2021 • EIN 22-2852638

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 01, 2022

Organization ProfileN/A

View Organization Page

18 Bank StreetSummit, 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.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Liabilities / Revenue

50th percentile

0.00x

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

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Net Margin

48th percentile

7.9%

Higher net margin than 48% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Top Officer Pay

96th percentile

$86,094

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 21.4% of source-year revenue.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Asset Growth

55th percentile

9.7%

Faster asset growth than 55% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

9th percentile

-68%

Faster revenue growth than 9% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$362,489

Up $31,903 (+9.7%) from 2020

Net Assets

Up

$362,489

Up $31,903 (+9.7%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin48th percentile

Revenue

Down

$402,534

Down $863,877 (-68%) from 2020

Expenses

Down

$370,631

Down $789,390 (-68%) from 2020

Net Income

Down

$31,903

Down $74,487 (-70%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth55th 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

2021

Assets$362,489
Liabilities$0
Net Assets$362,489
Open 2021 Filing

Operations Trend

Revenue Growth9th 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

2021

Revenue$402,534
Expenses$370,631
Net Income$31,903
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 1, 2022
Return Version
2021v4.1
Gross Receipts
$405,834
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 this business community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$330,586$362,489▲ $31,903
Total Assets$330,586$362,489▲ $31,903
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$306,610$346,593▲ $39,983
Net Assets Without Donor Restrictions$23,976$15,896▼ $8,080
Total Net Assets Fund Balance$330,586$362,489▲ $31,903
Total Liabilities and Net Assets / Fund Balance$330,586$362,489▲ $31,903
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Nancy AdamsEmployeeFT$86,094$86,094

Board Members and Trustees

NameTitle
Bob ConwayChair
Karen SchneiderVice President
Allison DaubelTrustee
Antonietta LavecchiaTrustee
David BernatTrustee
David NaiduTrustee
Greg VartanTrustee
Kimberly HamiltonTrustee
Lauren DeckerTrustee
Leslie E HermanTrustee
Matthew StraussTrustee
Michael RogersTrustee
Nora RadestTrustee
Ray MerrittSecretary
Claire TothTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,553
Program Service Revenue
$398,702
Investment Income
$271
Other Revenue
$-2,992
All Other Contributions
$6,553
Change in Net Assets
$31,903

Audited Revenue Reconciliation

Revenue per Audited Statements
$402,534
Total Revenue per Audited Statements
$402,534
Total Revenue per Form 990
$402,534
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$180,285
Salaries, Compensation, and Employee Benefits$175,846
Grants and Similar Amounts Paid$14,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$109,842$66,004$0$175,846
All Other Expenses$31,237$3,959$0$35,196
Occupancy$13,173$7,915$0$21,088
Grants to Domestic Orgs$14,500--$14,500
Fees for Services Accounting$7,236$5,815$0$13,051
Advertising$1,347$810$0$2,157
Other Expenses$0$2,023$0$2,023
Conferences and Meetings$0$180$0$180
Total Functional Expenses$280,897$89,734$0$370,631

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$370,631
Total Expenses per Audited Statements$370,631
Total Expenses per Form 990$370,631
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 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
Filing and Contact Details

Filer

Filer Name
Summit Downtown Inc
EIN
22-2852638
Phone
9082776100
Address
18 BANK STREET, SUMMIT, NJ 07901

Signing Officer

Name
Robert Conway
Title
President
Phone
9082776100
Signed
2022-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Conway
Formed
1986
Legal Domicile
Nj
Voting Board Members
16
Independent Board Members
15
Employees
2
Volunteers
0

Preparer

Firm
Dittrich & Roberts Inc
Address
156 Blackburn Rd, Summit, NJ 07901
Preparer
Robyn W Roberts
Phone
9082733205
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Form 990 was provided to all trustees.”

Pt VI, Line 2

“3 board memers also serve as elected officials for the city of summit.”

Pt VI, Line 19

“The organization makes its governng docuents and financial information available upon written request.”

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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ROBERT CONWAY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0TAX ASSESSMENTS
IRS990/ProgramServiceRevenueGrp/Desc1COMMUNITY PROJECTS
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0267878
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1130824
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
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IRS990/PYContributionsGrantsAmt0835926
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0808950
IRS990/PYInvestmentIncomeAmt0188
IRS990/PYOtherExpensesAmt0181928
IRS990/PYOtherRevenueAmt0852
IRS990/PYProgramServiceRevenueAmt0429445
IRS990/PYRevenuesLessExpensesAmt0106390
IRS990/PYSalariesCompEmpBnftPaidAmt0169143
IRS990/PYTotalExpensesAmt01160021
IRS990/PYTotalRevenueAmt01266411
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt031903
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0402534
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0330586
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0362489
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt06420
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0835926
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt07800
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt09577
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt012096
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0871819
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0271
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0188
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01073
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt086
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0168
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01786
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0128236
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt096112
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0110258
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0114055
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0114358
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0563019
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0271
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0188
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01073
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt086
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0168
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IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus1YearAmt0334185
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus2YearsAmt0198920
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus3YearsAmt0327600
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus4YearsAmt0195000
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01266223
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0316978
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0451232
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0321454
IRS990ScheduleA/Total509Grp/TotalAmt02758421
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IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleD/RevenueSubtotalAmt0402534
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IRS990ScheduleD/TotalRevenuePerForm990Amt0402534
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0402534
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0370631
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 WAS PROVIDED TO ALL TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13 BOARD MEMERS ALSO SERVE AS ELECTED OFFICIALS FOR THE CITY OF SUMMIT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNNG DOCUENTS AND FINANCIAL INFORMATION AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0362489
IRS990/TotalAssetsGrp/BOYAmt0330586
IRS990/TotalAssetsGrp/EOYAmt0362489
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt06553
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt089734
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0280897
IRS990/TotalFunctionalExpensesGrp/TotalAmt0370631
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$362,489
Liabilities
$0
Net assets
$362,489
Revenue
$402,534
Expenses
$370,631
Net income
$31,903
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