Civic Intelligence

Morris Canal Redevelopment Area Community Development Corp

990 • Fiscal year 2017 • EIN 22-3747538

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 21, 2018

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

90th percentile

0.92x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

21.04x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

1st percentile

-230%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

12th percentile

-9.4%

Faster asset growth than 12% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-83%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$2,530,011

Down $262,202 (-9.4%) from 2016

Net Assets

Down

$202,229

Down $248,295 (-55%) from 2016

Liabilities

Down

$2,327,782

Down $13,907 (-0.6%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Down

$110,630

Down $530,333 (-83%) from 2016

Expenses

Up

$365,065

Up $149,519 (+69%) from 2016

Net Income

Down

-$254,435

Down $679,852 (-160%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2017

Assets$2,530,011
Liabilities$2,327,782
Net Assets$202,229
Open 2017 Filing

Operations Trend

Revenue Growth1st 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

2017

Revenue$110,630
Expenses$365,065
Net Income-$254,435
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 21, 2018
Return Version
2017v2.3
Gross Receipts
$110,630
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$1,870,080$1,818,953▼ $51,127
Cash and Non-Interest-Bearing Accounts$649,831$457,864▼ $191,967
Pledges and Grants Receivable$104,032--
Prepaid Expenses and Deferred Charges$3,681$530▼ $3,151
Total Assets$2,792,213$2,530,011▼ $262,202
Other Assets Total$164,589$252,664▲ $88,075
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,905,731$1,920,533▲ $14,802
Unsecured Notes Loans Payable$254,321$241,939▼ $12,382
Accounts Payable and Accrued Expenses$163,294$150,697▼ $12,597
Other Liabilities$18,343$14,613▼ $3,730
Total Liabilities$2,341,689$2,327,782▼ $13,907
Net Assets / Fund Balance
Unrestricted Net Assets$450,524$202,229▼ $248,295
Total Net Assets Fund Balance$450,524$202,229▼ $248,295
Total Liabilities and Net Assets / Fund Balance$2,792,213$2,530,011▼ $262,202

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,569,271$266,525$1,835,796
Other Land Buildings$243,110-$243,110
Equipment$6,572$2,742$9,314
Other Assets Org$9,554--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
June JonesExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$34,597
Program Service Revenue
$76,033
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-254,435
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$195,581
Salaries, Compensation, and Employee Benefits$169,484
Total Fundraising Expense$24,067
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$59,884$19,961-$79,845
Current Officers, Directors, Trustees, and Key Employees$53,625$17,875-$71,500
Depreciation Depletion$41,376$13,792-$55,168
Other Expenses$11,929$3,976$24,067$24,067
Fees for Services Accounting$16,237$5,413-$21,650
Occupancy$15,564$5,189-$20,753
Interest$13,996$4,666-$18,662
Payroll Taxes$13,604$4,535-$18,139
Office Expenses$8,843$2,947-$11,790
Insurance$5,654$1,885-$7,539
Travel$3,080$1,027-$4,107
All Other Expenses$2,679$893-$3,572
Fees for Services Other$2,280$760-$3,040
Fees for Services Legal$2,100$700-$2,800
Total Functional Expenses$255,747$85,251$24,067$365,065
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Diner$34,597$34,597-$34,597
Total Events$34,597$34,597$24,067$10,530
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$9,554
Tenants security deposits$5,059
Mortgage payable -current portion-
Other-
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

“Board members received copies of Form 990 for them to review and discuss, before its filed.”

Form 990, Part VI, Section C, Line 19

“Documents and financial audited statements are made available to the public whenever they are requested.”

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 Executive Director
Title
Executive Director
Signed
2018-08-21
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
6

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/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board members received copies of Form 990 for them to review and discuss, before its filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Documents and financial audited statements are made available to the public whenever they are requested.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02792213
IRS990/TotalAssetsEOYAmt02530011
IRS990/TotalAssetsGrp/BOYAmt02792213
IRS990/TotalAssetsGrp/EOYAmt02530011
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt034597
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt024067
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt085251
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0255747
IRS990/TotalFunctionalExpensesGrp/TotalAmt0365065
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02341689
IRS990/TotalLiabilitiesEOYAmt02327782
IRS990/TotalLiabilitiesGrp/BOYAmt02341689
IRS990/TotalLiabilitiesGrp/EOYAmt02327782
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0450524
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0202229
IRS990/TotalProgramServiceExpensesAmt0255747
IRS990/TotalProgramServiceRevenueAmt076033
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0110630
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02792213
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02530011
IRS990/TravelGrp/ManagementAndGeneralAmt01027
IRS990/TravelGrp/ProgramServicesAmt03080
IRS990/TravelGrp/TotalAmt04107
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0450524
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0202229
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0254321
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0241939
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/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0June Jones Executive Director
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-21
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/FilingSecurityInformation/AtSubmissionCreationDeviceId09945F8F417F34409AAEF5EF8FA5BA39CEBE10D6A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CBA6CE364D2DED51EDC64E43C0A67B64616A23C4
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId02022922018135rmuc8wj
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02018-08-17
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.63.59.84
ReturnHeader/FilingSecurityInformation/IPDt02018-08-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm014:18:18
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/PreparationDt02018-08-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Calvin Taylor
ReturnHeader/ReturnTs02018-08-21T12:08:19-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,530,011
Liabilities
$2,327,782
Net assets
$202,229
Revenue
$110,630
Expenses
$365,065
Net income
-$254,435
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