Civic Intelligence

Morris Canal Redevelopment Area Community Development Corp

990 • Fiscal year 2015 • EIN 22-3747538

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 12, 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

91st percentile

0.99x

Higher debt load relative to assets than 91% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

93rd percentile

3.49x

Higher debt load relative to revenue than 93% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

95th percentile

69%

Higher net margin than 95% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

41st percentile

$38,024

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

80th percentile

18%

Faster asset growth than 80% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

99th percentile

603%

Faster revenue growth than 99% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$2,385,413

Up $362,641 (+18%) from 2014

Net Assets

Up

$25,107

Up $467,561 (+106%) from 2014

Liabilities

Down

$2,360,306

Down $104,920 (-4.3%) from 2014

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin95th percentile

Revenue

Up

$676,734

Up $580,507 (+603%) from 2014

Expenses

Down

$209,173

Down $83,132 (-28%) from 2014

Net Income

Up

$467,561

Up $663,639 (+338%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth80th 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

2015

Assets$2,385,413
Liabilities$2,360,306
Net Assets$25,107
Open 2015 Filing

Operations Trend

Revenue Growth99th 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

2015

Revenue$676,734
Expenses$209,173
Net Income$467,561
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 12, 2016
Return Version
2015v2.1
Gross Receipts
$697,748
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$1,972,296$1,918,991▼ $53,305
Cash and Non-Interest-Bearing Accounts$38,704$434,960▲ $396,256
Accounts Receivable$1,772--
Prepaid Expenses and Deferred Charges-$77-
Total Assets$2,022,772$2,385,413▲ $362,641
Other Assets Total$10,000$31,385▲ $21,385
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,990,190$1,905,731▼ $84,459
Unsecured Notes Loans Payable$260,452$260,180▼ $272
Accounts Payable and Accrued Expenses$201,016$183,559▼ $17,457
Other Liabilities$13,568$10,836▼ $2,732
Total Liabilities$2,465,226$2,360,306▼ $104,920
Net Assets / Fund Balance
Unrestricted Net Assets$-442,454$25,107▲ $467,561
Total Net Assets Fund Balance$-442,454$25,107▲ $467,561
Total Liabilities and Net Assets / Fund Balance$2,022,772$2,385,413▲ $362,641

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,918,991$159,915$2,078,906
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleFull / Part TimeBaseTotal
June JonesExecutive DirectorFT$38,024$38,024
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$64,696
Investment Income
$500,041
Other Revenue
$111,997
Change in Net Assets
$467,561
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$159,484
Salaries, Compensation, and Employee Benefits$49,094
Grants and Similar Amounts Paid$595
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$45,308$7,995-$53,303
Fees for Services Accounting$33,367$5,888-$39,255
Current Officers, Directors, Trustees, and Key Employees$32,320$5,704-$38,024
Occupancy$16,511$2,914-$19,425
Insurance$10,605$1,872-$12,477
Office Expenses$10,541$1,860-$12,401
Interest$10,123$1,787-$11,910
Fees for Services Legal$6,829$1,205-$8,034
Other Salaries and Wages$6,375$1,125-$7,500
Payroll Taxes$3,034$536-$3,570
Fees for Services Management$1,200--$1,200
Travel$961$170-$1,131
Grants to Domestic Orgs$595--$595
Other Expenses$296$52-$348
Total Functional Expenses$178,065$31,108$0$209,173
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$41,152
Fundraising Direct Expenses$21,014
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual dinner$41,152$41,152$3,336$37,816
Total Events$41,152$41,152$21,014$20,138
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$10,836
Tenants security deposits-
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
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

“Each board member receive a copy of Form 990 to review and discuss before filing.”

Form 990, Part VI, Section C, Line 19

“Documents and financial statements are being made available to the public on 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
Director
Title
Executive Director
Signed
2016-11-12
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
3

Preparer

Firm
Calvin Taylor CPA LLC
Address
991 Route 22 West Suite 200, Bridgewater, NJ 08807
Preparer
Calvin Taylor
Phone
9083798292
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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/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031108
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0178065
IRS990/TotalFunctionalExpensesGrp/TotalAmt0209173
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02465226
IRS990/TotalLiabilitiesEOYAmt02360306
IRS990/TotalLiabilitiesGrp/BOYAmt02465226
IRS990/TotalLiabilitiesGrp/EOYAmt02360306
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-442454
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt025107
IRS990/TotalProgramServiceExpensesAmt0178065
IRS990/TotalProgramServiceRevenueAmt064696
IRS990/TotalReportableCompFromOrgAmt038024
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0676734
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02022772
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02385413
IRS990/TravelGrp/ManagementAndGeneralAmt0170
IRS990/TravelGrp/ProgramServicesAmt0961
IRS990/TravelGrp/TotalAmt01131
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-442454
IRS990/UnrestrictedNetAssetsGrp/EOYAmt025107
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0260452
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0260180
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0317 PACIFIC AVE
IRS990/USAddress/CityNm0JERSEY CITY
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007304
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.morriscanalcdc.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Director
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MORRIS CANAL REDEVELOPMENT AREA CDC
ReturnHeader/Filer/BusinessNameControlTxt0MORR
ReturnHeader/Filer/EIN0223747538
ReturnHeader/Filer/PhoneNum02019159600
ReturnHeader/Filer/USAddress/AddressLine1Txt0317 PACIFIC AVE
ReturnHeader/Filer/USAddress/CityNm0JERSEY CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007304
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/PhoneNum09083798292
ReturnHeader/PreparerPersonGrp/PreparationDt02016-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Calvin Taylor
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02016-11-12T03:09:07-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,385,413
Liabilities
$2,360,306
Net assets
$25,107
Revenue
$676,734
Expenses
$209,173
Net income
$467,561
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