Civic Intelligence

Newark Downtown District Management Corporation

990 • Fiscal year 2019 • EIN 22-3646316

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 31, 2020

60 Park PlaceNewark, NJ 07102

(973) 622-2002

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

90th percentile

1.04x

Higher debt load relative to assets than 90% of similar nonprofits.

2019 filings • NTEE S • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

73rd percentile

1.44x

Higher debt load relative to revenue than 73% of similar nonprofits.

2019 filings • NTEE S • $5M-$10M nonprofits • Source year 2019

Net Margin

60th percentile

7.5%

Higher net margin than 60% of similar nonprofits.

2019 filings • NTEE S • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

53rd percentile

$201,250

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2019 filings • NTEE S • $5M-$10M nonprofits • Source year 2019

Asset Growth

63rd percentile

4.6%

Faster asset growth than 63% of similar nonprofits.

2019 filings • NTEE S • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

57th percentile

7.5%

Faster revenue growth than 57% of similar nonprofits.

2019 filings • NTEE S • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Up

$7,639,805

Up $338,706 (+4.6%) from 2018

Net Assets

Up

-$312,190

Up $412,060 (+57%) from 2018

Liabilities

Down

$7,951,995

Down $73,354 (-0.9%) from 2018

Revenue

Up

$5,507,369

Up $386,002 (+7.5%) from 2018

Expenses

Up

$5,095,309

Up $320,557 (+6.7%) from 2018

Net Income

Up

$412,060

Up $65,445 (+19%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0-$5.0MAssets 2010: $11,179,068Liabilities 2010: $10,144,233Net Assets 2010: $1,034,8352010Assets 2011: $10,246,158Liabilities 2011: $9,927,031Net Assets 2011: $319,1272011Assets 2012: $9,316,677Liabilities 2012: $9,285,018Net Assets 2012: $31,6592012Assets 2013: $8,762,741Liabilities 2013: $9,072,935Net Assets 2013: -$310,1942013Assets 2014: $8,658,740Liabilities 2014: $8,945,036Net Assets 2014: -$286,2962014Assets 2015: $7,939,412Liabilities 2015: $8,807,632Net Assets 2015: -$868,2202015Assets 2016: $6,939,467Liabilities 2016: $8,238,848Net Assets 2016: -$1,299,3812016Assets 2017: $6,984,220Liabilities 2017: $8,055,085Net Assets 2017: -$1,070,8652017Assets 2018: $7,301,099Liabilities 2018: $8,025,349Net Assets 2018: -$724,2502018Assets 2019: $7,639,805Liabilities 2019: $7,951,995Net Assets 2019: -$312,1902019Assets 2020: $7,986,101Liabilities 2020: $7,947,828Net Assets 2020: $38,2732020Assets 2021: $7,203,712Liabilities 2021: $7,173,634Net Assets 2021: $30,0782021Assets 2022: $7,750,959Liabilities 2022: $7,771,386Net Assets 2022: -$20,4272022Assets 2023: $10,288,906Liabilities 2023: $8,318,461Net Assets 2023: $1,970,4452023Assets 2024: $11,231,136Liabilities 2024: $7,637,664Net Assets 2024: $3,593,4722024

Highlighted filing

2019

Assets$7,639,805
Liabilities$7,951,995
Net Assets-$312,190

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $3,675,2602010Expenses 2011: $2,825,8302011Expenses 2012: $2,481,2832012Revenue 2013: $2,882,567Expenses 2013: $3,224,420Net Income 2013: -$341,8532013Revenue 2014: $3,580,015Expenses 2014: $3,556,118Net Income 2014: $23,8972014Revenue 2015: $3,940,218Expenses 2015: $4,522,142Net Income 2015: -$581,9242015Revenue 2016: $4,185,715Expenses 2016: $4,616,876Net Income 2016: -$431,1612016Revenue 2017: $4,269,829Expenses 2017: $4,041,313Net Income 2017: $228,5162017Revenue 2018: $5,121,367Expenses 2018: $4,774,752Net Income 2018: $346,6152018Revenue 2019: $5,507,369Expenses 2019: $5,095,309Net Income 2019: $412,0602019Revenue 2020: $5,094,718Expenses 2020: $4,744,255Net Income 2020: $350,4632020Revenue 2021: $5,205,083Expenses 2021: $5,213,278Net Income 2021: -$8,1952021Revenue 2022: $5,077,121Expenses 2022: $5,127,626Net Income 2022: -$50,5052022Revenue 2023: $8,541,889Expenses 2023: $6,551,017Net Income 2023: $1,990,8722023Revenue 2024: $8,531,221Expenses 2024: $6,908,194Net Income 2024: $1,623,0272024

Highlighted filing

2019

Revenue$5,507,369
Expenses$5,095,309
Net Income$412,060
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 31, 2020
Return Version
2019v5.1
Gross Receipts
$5,507,369
Mission and Program Overview

Mission

The corporation's purpose is to revitalize downtown newark (see schedule o for details).

Revitalize downtown newark by improving the economic viability of the central business district and enhance the quality of life for residents, workers, students and visitors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,123,810$4,473,952▲ $350,142
Land, Buildings, and Equipment, Net$2,669,828$2,276,118▼ $393,710
Intangible Assets$200,380$189,538▼ $10,842
Accounts Receivable$129,010$175,932▲ $46,922
Prepaid Expenses and Deferred Charges$174,924$65,123▼ $109,801
Cash and Non-Interest-Bearing Accounts$1,147$8,035▲ $6,888
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$7,301,099$7,639,805▲ $338,706
Other Assets Total$2,000$451,107▲ $449,107
Liabilities
Tax Exempt Bond Liabilities$7,855,367$7,607,511▼ $247,856
Accounts Payable and Accrued Expenses$167,702$344,484▲ $176,782
Deferred Revenue$2,280$0▼ $2,280
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$8,025,349$7,951,995▼ $73,354
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-724,250$-312,190▲ $412,060
Total Net Assets Fund Balance$-724,250$-312,190▲ $412,060
Total Liabilities and Net Assets / Fund Balance$7,301,099$7,639,805▲ $338,706

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,927,225$3,834,273$5,761,498
Equipment$316,325$317,563$633,888
Other Land Buildings$32,568$32,226$64,794
Other Assets Org$451,107--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Anthony McmillanChief Executive OfficerFT$201,250$201,250
Thomas T GoletzVice PresidentFT$121,122$121,122
STEPHEN B LASsERCONTROLLER (term 11/2019)FT$116,995$116,995

Board Members and Trustees

NameTitle
Regina TokarChair
Geoff CampbellVice Chair
Anthony BorelliBoard Member
Celia KingBoard Member
Hon Mildred Crumpboard member
James Rhatican EsqBoard Member
Jeffrey ThomasBoard Member
Linda HarrisonBoard Member
Martin WeberBoard Member
Michael Greene EsqBoard Member
Michael JamesBoard Member
Monique Jonesboard member
Ron BeitBoard Member
Sarah Jones EsqBoard Member
larry barnesboard member
Kevin CollinsBoard Memebr
Darla StacheckiSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Streetplus Company LLCCleaning154 CONOVER STREET, Brooklyn, NY 11231$1,658,007
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,099,173
Investment Income
$23,898
Other Revenue
$384,298
Change in Net Assets
$412,060

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,507,369
Total Revenue per Audited Statements
$5,507,369
Total Revenue per Form 990
$5,507,369
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,143,343
Salaries, Compensation, and Employee Benefits$951,966
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,992,353$103,874-$2,096,227
Other Salaries and Wages$141,354$363,482-$504,836
Interest$489,826--$489,826
Depreciation Depletion$455,236--$455,236
Other Expenses$344,114--$344,114
Current Officers, Directors, Trustees, and Key Employees$90,264$232,108-$322,372
Occupancy$91,312$118,405-$209,717
Fees for Services Management-$173,082-$173,082
Office Expenses$14,693$106,283-$120,976
Fees for Services Legal-$83,360-$83,360
Conferences and Meetings-$71,975-$71,975
Payroll Taxes$19,370$49,808-$69,178
Fees for Services Accounting-$51,353-$51,353
Other Employee Benefits-$37,884-$37,884
Insurance-$21,734-$21,734
Pension Plan Contributions$4,955$12,741-$17,696
Information Technology$384$12,692-$13,076
Advertising$12,667--$12,667
Total Functional Expenses$3,656,528$1,438,781$0$5,095,309

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,095,309
Total Expenses per Audited Statements$5,095,309
Total Expenses per Form 990$5,095,309
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANew Jersey Economic Development Authority2019-01-23$8,705,935Refund Series 2007 Bonds & streets

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$8,705,935$34,900$7,037,251$171,137

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11A

Prior to filing, the 990 is reviewed by the ceo who in turn shares it with the finance committee, which is chaired by the treasurer of the organization. Once approved by the finance committee all board members are provided with a copy of the 990 form before it is filed.

Form 990, Part VI, Section B, Line 12C

The compliance committee collectively drafts the conflict of interest disclosure form, and then it is provided to the newark downtown district's legal counsel, mccarter & english. Once approved by the attorneys, it is distributed to each ndd board member annually for their signature and opportunity to disclose any and all material facts to the board of directors to determine if there is any actual or possible conflict of interest.

FORM 990, PART VI, SECTION B, LINE 15A+B

The executive board meets annually and provides the ceo with a written review and oral explanation of same. Based on this review, and considering compensation data for other ceos of business improvement districts, compensation is thereby determined and approved by the executive board.

Form 990, Part VI, Section C, Line 19

The ndd submits an annual report outlining and summarizing its financial statement. Governing documents and conflict of interest policy are available for review upon request.

Filing and Contact Details

Filer

Filer Name
Newark Downtown District
EIN
22-3646316
In Care Of
% ANTHONY MCMILLAN CEO
Phone
9736222002
Address
60 Park Place, Newark, NJ 07102

Signing Officer

Name
Anthony Mcmillan
Title
CEO
Phone
9736222002
Signed
2020-08-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Mcmillan
Formed
1998
Legal Domicile
Nj
Voting Board Members
18
Independent Board Members
18
Employees
15
Volunteers
17

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
James Decker
Phone
7328281614
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1

By improving the economic viability of the central business district and enhance the quality of life for residents, workers, students and visitors.

Form 990, Part III, Line 4A

Clean team - now you can hire the ndd ambassadors and receive the same high-quality maintenance and beautification to your property or business. -snow removal: pre-treatment and post-event services to remove snow and ice from sidewalks, driveways and parking lots. -power washing/graffiti removal: ndd ambassadors can brighten and clean your property with power washing and out graffiti removal rehabilitation system. -horticulture and landscape maintenance: green up! Let ndd ambassadors add and maintain planters and hanging baskets to your property. We offer full-service maintenance to include grass cutting, weeding, and leaf removal. -event support: ndd ambassadors can provide cleaning services during and after your event. We also can act as welcome hosts, hospitality and crowd control. -parklets: let us add to your sidewalk space by installing a parklet. This pedestrian oasis comes with a seating area and decorative planting. -seasonal outdoor cafe-style seating space: add the amenity of outdoor seating to your space. Ndd ambassadors set up, clean and break down the bistro sets on your site.

Form 990, Part III, Line 4B

Ambassadors - -the clean team ambassadors clean every block the special improvement district boundaries seven days a week. -the quality of life ambassadors work with members of the newark police department and are stationed at our new community resource center at 60 park place. They canvas our district on foot, bicycles and segways, to identify issues that can potentially negatively affect out beautiful downtown. Qol ambassadors also proactively assist individuals with welcoming, smiling faces, and provide information to visitors. -special project ambassadors tackle projects throughout the downtown that requires special skills such as graffiti removal, painting, and power washing sidewalks and buildings. -the horticulture ambassadors, known as the "green team,a welcoming environment in downtown newark through beautification. They install and maintain the thousands of seasonal plants and flowers throughout the district and maintain washintgton park and doane triangle. They also provide contracted horticulture services to private properties. This ensures that our entire downtown has a uniform look. Horticulture services to private properties. This ensures that our entire downtown has a uniform look. Entire downtown has a uniform look.

Form 990 Part IX Line 11G

Description:ambassador total fees:1716651

Form 990 Part IX Line 11G

Description:landscaping total fees:379576

Financial Statement Notes

Schedule D, Part X, Line 2

The Organization is exempt from federal income tax as an organization described in Section 501(c)(3) of the Internal Revenue Code. Accordingly, the accompanying financial statements do not reflect provisions for federal and state income taxes. The Organization evaluates tax positions requiring recognition using a more-likely-than-not threshold, and those tax positions requiring recognition are measured at the largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. The Organization has evaluated the likelihood of their tax exempt status being challenged as remote. Accordingly, as of December 31, 2019 or 2018, the Organization has not included any income tax provisions, including interest and penalties, in the financial statements.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2CONTROLLER (term 11/2019)
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMEBR
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11board member
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13board member
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt15board member
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
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IRS990/MissionDesc0THE CORPORATION'S PURPOSE IS TO REVITALIZE DOWNTOWN NEWARK (SEE SCHEDULE O FOR DETAILS).
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt065123
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.2$7.64$3.59$8.53$6.91$1.62
2023Detailed filing. Detailed filing data is available for this year.$10.3$8.32$1.97$8.54$6.55$1.99
2022Detailed filing. Detailed filing data is available for this year.$7.75$7.77$0.02$5.08$5.13$0.05
2021Detailed filing. Detailed filing data is available for this year.$7.20$7.17$0.03$5.21$5.21$0.01
2020Detailed filing. Detailed filing data is available for this year.$7.99$7.95$0.04$5.09$4.74$0.35
2019Detailed filing. Detailed filing data is available for this year.$7.64$7.95$0.31$5.51$5.10$0.41
2018Detailed filing. Detailed filing data is available for this year.$7.30$8.03$0.72$5.12$4.77$0.35
2017Detailed filing. Detailed filing data is available for this year.$6.98$8.06$1.07$4.27$4.04$0.23
2016Detailed filing. Detailed filing data is available for this year.$6.94$8.24$1.30$4.19$4.62$0.43
2015Detailed filing. Detailed filing data is available for this year.$7.94$8.81$0.87$3.94$4.52$0.58
2014Detailed filing. Detailed filing data is available for this year.$8.66$8.95$0.29$3.58$3.56$0.02
2013Detailed filing. Detailed filing data is available for this year.$8.76$9.07$0.31$2.88$3.22$0.34
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.32$9.29$0.03$2.48
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$9.93$0.32$2.83
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.2$10.1$1.03$3.68