Civic Intelligence

Morris Canal Redevelopment Area Community Development Corp

990 • Fiscal year 2014 • EIN 22-3747538

Jan 01, 2014 to Dec 31, 2014 • Filed on May 06, 2016

Organization Profilewww.morriscanalcdc.org
317 Pacific AveJersey City, NJ 07304

(201) 915-9600

Siviq Scores

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

Liabilities / Assets

94th percentile

1.22x

Higher debt load relative to assets than 94% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

99th percentile

25.62x

Higher debt load relative to revenue than 99% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

1st percentile

-204%

Higher net margin than 1% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

19th percentile

-5.6%

Faster asset growth than 19% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

23rd percentile

-8.2%

Faster revenue growth than 23% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$2,022,772

Down $119,076 (-5.6%) from 2013

Net Assets

Down

-$442,454

Down $1,213,004 (-157%) from 2013

Liabilities

Up

$2,465,226

Up $1,093,928 (+80%) from 2013

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Down

$96,227

Down $8,644 (-8.2%) from 2013

Expenses

Up

$292,305

Up $139,160 (+91%) from 2013

Net Income

Down

-$196,078

Down $147,804 (-306%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $239,665Liabilities 2010: $142,3652010Assets 2011: $332,953Liabilities 2011: $157,524Net Assets 2011: $175,4292011Assets 2012: $1,932,841Liabilities 2012: $1,114,016Net Assets 2012: $818,8252012Assets 2013: $2,141,848Liabilities 2013: $1,371,298Net Assets 2013: $770,5502013Assets 2014: $2,022,772Liabilities 2014: $2,465,226Net Assets 2014: -$442,4542014Assets 2015: $2,385,413Liabilities 2015: $2,360,306Net Assets 2015: $25,1072015Assets 2016: $2,792,213Liabilities 2016: $2,341,689Net Assets 2016: $450,5242016Assets 2017: $2,530,011Liabilities 2017: $2,327,782Net Assets 2017: $202,2292017Assets 2018: $2,295,723Liabilities 2018: $2,293,541Net Assets 2018: $2,1822018Assets 2019: $2,167,003Liabilities 2019: $2,325,388Net Assets 2019: -$158,3852019

Highlighted filing

2014

Assets$2,022,772
Liabilities$2,465,226
Net Assets-$442,454
Open 2014 Filing

Operations Trend

Revenue Growth23rd percentile

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

$1.0M$500K$0-$500KRevenue 2010: $123,149Expenses 2010: $38,592Net Income 2010: $84,5572010Expenses 2011: $123,3952011Revenue 2012: $786,876Expenses 2012: $143,480Net Income 2012: $643,3962012Revenue 2013: $104,871Expenses 2013: $153,145Net Income 2013: -$48,2742013Revenue 2014: $96,227Expenses 2014: $292,305Net Income 2014: -$196,0782014Revenue 2015: $676,734Expenses 2015: $209,173Net Income 2015: $467,5612015Revenue 2016: $640,963Expenses 2016: $215,546Net Income 2016: $425,4172016Revenue 2017: $110,630Expenses 2017: $365,065Net Income 2017: -$254,4352017Revenue 2018: $95,517Expenses 2018: $295,564Net Income 2018: -$200,0472018Revenue 2019: $98,594Expenses 2019: $241,495Net Income 2019: -$142,9012019

Highlighted filing

2014

Revenue$96,227
Expenses$292,305
Net Income-$196,078
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 6, 2016
Return Version
2014v6.0
Gross Receipts
$109,201
Mission and Program Overview

Mission

To encourage community developement, provide good quality afforable housing, foster economic development, provide employment, and job training.

The Organization successfully completed the construction of eight 8 afforable rental units, received Certificate of Occupancy, and had all units rented as of December 31, 2013.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,056,638$1,972,296▼ $84,342
Cash and Non-Interest-Bearing Accounts$69,432$38,704▼ $30,728
Accounts Receivable$15,778$1,772▼ $14,006
Total Assets$2,141,848$2,022,772▼ $119,076
Other Assets Total-$10,000-
Liabilities
Mortgage Notes Payable Secured by Investment Property$914,699$1,990,190▲ $1,075,491
Unsecured Notes Loans Payable$268,991$260,452▼ $8,539
Accounts Payable and Accrued Expenses$179,799$201,016▲ $21,217
Other Liabilities$7,809$13,568▲ $5,759
Total Liabilities$1,371,298$2,465,226▲ $1,093,928
Net Assets / Fund Balance
Unrestricted Net Assets$770,550$-442,454▼ $1,213,004
Total Net Assets Fund Balance$770,550$-442,454▼ $1,213,004
Total Liabilities and Net Assets / Fund Balance$2,141,848$2,022,772▼ $119,076

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,972,296$100,135$2,072,431
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
June JonesExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$73,904
Investment Income
$6
Other Revenue
$22,317
Change in Net Assets
$-196,078
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$208,998
Salaries, Compensation, and Employee Benefits$83,307
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$65,023$10,585-$75,608
Depreciation Depletion$53,305--$53,305
Fees for Services Accounting$25,447$4,143-$29,590
Interest$21,902$3,565-$25,467
All Other Expenses$21,181$3,447-$24,628
Fees for Services Legal$15,557$2,532-$18,089
Occupancy$9,253$1,507-$10,760
Payroll Taxes$6,621$1,078-$7,699
Fees for Services Management$6,536$1,064-$7,600
Office Expenses$5,558$904-$6,462
Other Expenses$3,478$566-$4,044
Travel$902$147-$1,049
Advertising$643$105-$748
Total Functional Expenses$258,846$33,459$0$292,305
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$35,291
Fundraising Direct Expenses$12,974
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Dinner and Silent Auction$35,291$35,291$1,526$33,765
Total Events$35,291$35,291$12,974$22,317
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$9,177
Tenants security deposits$4,391
Mortgage payable -current portion-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
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 11B

“Copies of this form 990 were emailed to board member for their review before filling.”

Form 990, Part VI, Section C, Line 19

“All documents and financial are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Morris Canal Redevelopment Area Cdc
EIN
22-3747538
Phone
2019159600
Address
317 PACIFIC AVE, JERSEY CITY, NJ 07304

Signing Officer

Name
June Jones
Title
Executive Director
Signed
2016-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
June Jones
Formed
1999
Legal Domicile
Nj
Voting Board Members
5
Independent Board Members
4
Employees
2

Preparer

Firm
Calvin Taylor CPA LLC
Address
991 ROUTE 22 WEST SUITE 200, BRIDGEWATER, NJ 08807
Preparer
Calvin Taylor
Phone
8627031382
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All documents and financial are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
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IRS990/WebsiteAddressTxt0www.morriscanalcdc.org
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ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0June Jones
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MORRIS CANAL REDEVELOPMENT AREA CDC
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CALVIN TAYLOR CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0991 ROUTE 22 WEST SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BRIDGEWATER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008807
ReturnHeader/PreparerPersonGrp/PhoneNum08627031382
ReturnHeader/PreparerPersonGrp/PreparationDt02016-05-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Calvin Taylor
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02016-05-06T02:28:52-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,022,772
Liabilities
$2,465,226
Net assets
-$442,454
Revenue
$96,227
Expenses
$292,305
Net income
-$196,078
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$2.17$2.33$0.16$0.10$0.24$0.14
2018Summary only. Only limited summary data is available for this year.$2.30$2.29$0.00$0.10$0.30$0.20
2017Detailed filing. Detailed filing data is available for this year.$2.53$2.33$0.20$0.11$0.37$0.25
2016Detailed filing. Detailed filing data is available for this year.$2.79$2.34$0.45$0.64$0.22$0.43
2015Detailed filing. Detailed filing data is available for this year.$2.39$2.36$0.03$0.68$0.21$0.47
2014Detailed filing. Detailed filing data is available for this year.$2.02$2.47$0.44$0.10$0.29$0.20
2013Summary only. Only limited summary data is available for this year.$2.14$1.37$0.77$0.10$0.15$0.05
2012Summary only. Only limited summary data is available for this year.$1.93$1.11$0.82$0.79$0.14$0.64
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.16$0.18$0.12
2010Summary only. Only limited summary data is available for this year.$0.24$0.14$0.12$0.04$0.08