Civic Intelligence

Midjersey Center for Economic Development

990 • Fiscal year 2016 • EIN 26-0449187

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 17, 2017

423 Riverview PlazaTrenton, NJ 08611

(609) 689-9960

Siviq Scores

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

Liabilities / Assets

89th percentile

0.46x

Higher debt load relative to assets than 89% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

90th percentile

0.35x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

87th percentile

35%

Higher net margin than 87% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

99th percentile

$135,806

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 148.1% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

94th percentile

166%

Faster asset growth than 94% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2016

Revenue Growth

83rd percentile

39%

Faster revenue growth than 83% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2016

Assets

Up

$69,158

Up $59,362 (+606%) from 2014

Net Assets

Up

$37,453

Up $27,657 (+282%) from 2014

Liabilities

Up

$31,705

Up $31,705 from 2014

Revenue

Up

$91,702

Up $44,210 (+93%) from 2014

Expenses

Up

$59,701

Up $16,347 (+38%) from 2014

Net Income

Up

$32,001

Up $27,863 (+673%) from 2014

Historical Trend

Balance Sheet Trend

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

$80K$60K$40K$20K$0Assets 2011: $36,566Liabilities 2011: $0Net Assets 2011: $36,5662011Assets 2012: $6,973Liabilities 2012: $0Net Assets 2012: $6,9732012Assets 2013: $7,206Liabilities 2013: $1,548Net Assets 2013: $5,6582013Assets 2014: $9,796Liabilities 2014: $0Net Assets 2014: $9,7962014Assets 2016: $69,158Liabilities 2016: $31,705Net Assets 2016: $37,4532016Assets 2017: $40,491Liabilities 2017: $6,593Net Assets 2017: $33,8982017Assets 2018: $6,568Liabilities 2018: $0Net Assets 2018: $6,5682018Assets 2019: $2,619Net Assets 2019: $2,6192019

Highlighted filing

2016

Assets$69,158
Liabilities$31,705
Net Assets$37,453

Operations Trend

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

$300K$200K$100K$0-$100KExpenses 2011: $29,3032011Expenses 2012: $107,5092012Revenue 2013: $6,500Expenses 2013: $7,815Net Income 2013: -$1,3152013Revenue 2014: $47,492Expenses 2014: $43,354Net Income 2014: $4,1382014Revenue 2016: $91,702Expenses 2016: $59,701Net Income 2016: $32,0012016Revenue 2017: $203,109Expenses 2017: $206,664Net Income 2017: -$3,5552017Revenue 2018: $2,599Expenses 2018: $29,929Net Income 2018: -$27,3302018Revenue 2019: $104Expenses 2019: $4,053Net Income 2019: -$3,9492019

Highlighted filing

2016

Revenue$91,702
Expenses$59,701
Net Income$32,001
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 17, 2017
Return Version
2016v3.0
Gross Receipts
$91,702
Mission and Program Overview

Mission

Support and promote the rentention, expansion and attraction of business entities in the greater mercer county region in a manner that complements the efforts of our economic development partners and enhances the quality of life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$18,856$55,968▲ $37,112
Accounts Receivable$7,305$13,190▲ $5,885
Total Assets$32,951$69,158▲ $36,207
Other Assets Total$6,790--
Liabilities
Deferred Revenue-$16,680-
Accounts Payable and Accrued Expenses$27,499$10,025▼ $17,474
Other Liabilities-$5,000-
Total Liabilities$27,499$31,705▲ $4,206
Net Assets / Fund Balance
Unrestricted Net Assets$5,452$37,453▲ $32,001
Total Net Assets Fund Balance$5,452$37,453▲ $32,001
Total Liabilities and Net Assets / Fund Balance$32,951$69,158▲ $36,207
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Robert D PrunettiExecutive DiFT$135,806$135,806

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$91,702
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$91,702
Change in Net Assets
$32,001
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$59,701
Total Fundraising Expense$888
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance-$1,275$888$2,163
Other Expenses$32,980$1,430-$1,430
All Other Expenses-$988-$988
Fees for Services Accounting-$525-$525
Total Functional Expenses$32,980$25,833$888$59,701
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Midjersey Chamber of Commerce$5,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Page 6, Part VI, Line 11B

990 given to all board members for review prior to submission

Form 990, Page 6, Part VI, Line 12C

The organization annually reviews its conflict of interest policy and has board of directors sign a statement annually

Form 990, Page 6, Part VI, Line 19

Certain governing documents are available upon request

Filing and Contact Details

Filer

Filer Name
Midjersey Center for Economic
EIN
26-0449187
Phone
6096899960
Address
423 RIVERVIEW PLAZA, TRENTON, NJ 08611

Signing Officer

Name
Joseph Maruca
Title
Treasurer
Phone
6096899960
Signed
2017-10-17

Organization Details

Principal Officer
Ronald L Perl
Formed
2007
Legal Domicile
Nj
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
55

Preparer

Firm
Hamilton Financial Group
Address
1540 KUSER ROAD SUITE A4, MERCERVILLE, NJ 08619-3828
Preparer
Peter S Martin CPA
Phone
6095810300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Support and promote the rentention, expansion and attraction of business entities in the greater mercer county region in a manner that complements the efforts of our economic development partners and enhances the quality of life.

Form 990, Page 1, Part I, Line 6

The board of directors is comprised of volunteers.

Form 990, Page 2, Part III, Line 4B

Financial means necessary to hire youth for the employment period. The midjersey chamber of commerce, through its 501(c)(3) foundation, the midjersey center for economic development (midced), will facilitate the placement of youth directly and is working with the city of trenton to coordinate transportation for youth from a central location in trenton to each place of employment. Furthermore, in future years, the chamber in collaboration with the city of trenton will develop programming to provide one-day of job skills training for each youth which will cover the essential information to operate in a professional environment. In the spirit of cooperation, we seek to ensure that the program is kept current and meets the needs of the business community as well as the city of trenton by additionally forming a steering committee that will meet from october of each year through the following summer in order to reevaluate the program and make adjustments to improve service and grow the operation. We will ensure that the steering committee includes representatives from our funders, the business community, non-profit organizations and the city itself. We feel this program is extremely important to the city of trenton and provides an otherwise unavailable avenue for job training and professional development for youth in the city. We are confident that you will feel the same way and are excited to have your participation as we take this monumental move together.

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IRS990/ProgSrvcAccomActy2Grp/Desc0THE MAYOR'S SUMMER YOUTH INITIATIVE IS A PROGRAM DESIGNED TO PUT CITY OF TRENTON YOUTH TO WORK EACH AND EVERY SUMMER AND PROVIDE THEM WITH THE LIFE SKILLS NECESSARY TO BE AN EFFECTIVE AND CONTRIBUTING PART OF A PROFESSIONAL WORK ENVIRONMENT. TO THAT END, THE MAYOR'S SUMMER YOUTH INITIATIVE IS A PUBLIC-PRIVATE PARTNERSHIP IN WHICH THE CITY OF TRENTON IDENTIFIES THE TARGET YOUTH AND THE PRIVATE PARTNERS WORK TOGETHER TO PROVIDE EITHER JOB OPPORTUNITIES OR DIRECT FUNDING TO SUPPORT THE PROGRAM. WE ESTIMATE THE COST OF A SINGLE JOB OVER THE COURSE OF THE SIX (6) WEEK TARGET PERIOD TO BE APPROXIMATELY 2,000. EACH 2,000 MONETARY DONATION WILL CONSTITUTE AS AN ADDITIONAL "JOB" THAT THE CITY OF TRENTON CAN OFFER. ANY FUNDING COLLECTED WILL BE ISSUED TO PARTNER 501(C)(3) NON-PROFITS TO PROVIDE THE FINANCIAL MEANS NECESSARY TO HIRE YOUTH FOR THE EMPLOYMENT PERIOD. THE MIDJERSEY CHAMBER OF COMMERCE, THROUGH ITS 501(C)(3) FOUNDATION, THE MIDJERSEY CENTER FOR ECONOMIC DEVELOPMENT (MIDCED), WILL FACILITATE THE PLACEMENT OF YOUTH DIRECTLY AND IS WORKING WITH THE CITY OF TRENTON TO COORDINATE TRANSPORTATION FOR YOUTH FROM A CENTRAL LOCATION IN TRENTON TO EACH PLACE OF EMPLOYMENT. FURTHERMORE, IN FUTURE YEARS, THE CHAMBER IN COLLABORATION WITH THE CITY OF TRENTON WILL DEVELOP PROGRAMMING TO PROVIDE ONE-DAY OF JOB SKILLS TRAINING FOR EACH YOUTH WHICH WILL COVER THE ESSENTIAL INFORMATION TO OPERATE IN A PROFESSIONAL ENVIRONMENT. IN THE SPIRIT OF COOPERATION, WE SEEK TO ENSURE THAT THE PROGRAM IS KEPT CURRENT AND MEETS THE NEEDS OF THE BUSINESS COMMUNITY AS WELL AS THE CITY OF TRENTON BY ADDITIONALLY FORMING A STEERING COMMITTEE THAT WILL MEET FROM OCTOBER OF EACH YEAR THROUGH THE FOLLOWING SUMMER IN ORDER TO REEVALUATE THE PROGRAM AND MAKE ADJUSTMENTS TO IMPROVE SERVICE AND GROW THE OPERATION. WE WILL ENSURE THAT THE STEERING COMMITTEE INCLUDES REPRESENTATIVES FROM OUR FUNDERS, THE BUSINESS COMMUNITY, NON-PROFIT ORGANIZATIONS AND THE CITY ITSELF. WE FEEL THIS PROGRAM IS EXTREMELY IMPORTANT TO THE CITY OF TRENTON AND PROVIDES AN OTHERWISE UNAVAILABLE AVENUE FOR JOB TRAINING AND PROFESSIONAL DEVELOPMENT FOR YOUTH IN THE CITY. WE ARE CONFIDENT THAT YOU WILL FEEL THE SAME WAY AND ARE EXCITED TO HAVE YOUR PARTICIPATION AS WE TAKE THIS MONUMENTAL MOVE TOGETHER.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt032727
IRS990/ProgSrvcAccomActy3Grp/Desc0TRENTON DIGITAL INITIATIVE IS A PROGRAM THAT FOCUSES ON REFURBISHING DONATED COMPUTERS TO GIVE TO FAMILIES IN TRENTON WITHOUT CURRENT INTERNET ACCESS. TDI PARTNERS WITH COMCAST TO PROVIDE AFFORDABLE INTERNET, WHILE TDI PROVIDES A COMPUTER OR LAPTOP AT NO COST. TDI HAS PARTNERED WITH MANY NONPROFITS AND SCHOOLS IN THE AREA TO HELP FAMILIES IN NEED AND IS CURRENTLY ON TRACK TO HIT 1,000 COMPUTERS PLACED BY THE END OF THE YEAR. WE HAVE VOLUNTEERS REFURBISH THE DONATED COMPUTERS WITH AN OPERATING SYSTEM CALLED UBUNTU AND WIPE THEM OF ANY INFORMATION FROM THE PREVIOUS OWNER.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO MIDJERSEY CHAMBER OF COMMERCE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SUPPORT AND PROMOTE THE RENTENTION, EXPANSION AND ATTRACTION OF BUSINESS ENTITIES IN THE GREATER MERCER COUNTY REGION IN A MANNER THAT COMPLEMENTS THE EFFORTS OF OUR ECONOMIC DEVELOPMENT PARTNERS AND ENHANCES THE QUALITY OF LIFE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS COMPRISED OF VOLUNTEERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FINANCIAL MEANS NECESSARY TO HIRE YOUTH FOR THE EMPLOYMENT PERIOD. THE MIDJERSEY CHAMBER OF COMMERCE, THROUGH ITS 501(C)(3) FOUNDATION, THE MIDJERSEY CENTER FOR ECONOMIC DEVELOPMENT (MIDCED), WILL FACILITATE THE PLACEMENT OF YOUTH DIRECTLY AND IS WORKING WITH THE CITY OF TRENTON TO COORDINATE TRANSPORTATION FOR YOUTH FROM A CENTRAL LOCATION IN TRENTON TO EACH PLACE OF EMPLOYMENT. FURTHERMORE, IN FUTURE YEARS, THE CHAMBER IN COLLABORATION WITH THE CITY OF TRENTON WILL DEVELOP PROGRAMMING TO PROVIDE ONE-DAY OF JOB SKILLS TRAINING FOR EACH YOUTH WHICH WILL COVER THE ESSENTIAL INFORMATION TO OPERATE IN A PROFESSIONAL ENVIRONMENT. IN THE SPIRIT OF COOPERATION, WE SEEK TO ENSURE THAT THE PROGRAM IS KEPT CURRENT AND MEETS THE NEEDS OF THE BUSINESS COMMUNITY AS WELL AS THE CITY OF TRENTON BY ADDITIONALLY FORMING A STEERING COMMITTEE THAT WILL MEET FROM OCTOBER OF EACH YEAR THROUGH THE FOLLOWING SUMMER IN ORDER TO REEVALUATE THE PROGRAM AND MAKE ADJUSTMENTS TO IMPROVE SERVICE AND GROW THE OPERATION. WE WILL ENSURE THAT THE STEERING COMMITTEE INCLUDES REPRESENTATIVES FROM OUR FUNDERS, THE BUSINESS COMMUNITY, NON-PROFIT ORGANIZATIONS AND THE CITY ITSELF. WE FEEL THIS PROGRAM IS EXTREMELY IMPORTANT TO THE CITY OF TRENTON AND PROVIDES AN OTHERWISE UNAVAILABLE AVENUE FOR JOB TRAINING AND PROFESSIONAL DEVELOPMENT FOR YOUTH IN THE CITY. WE ARE CONFIDENT THAT YOU WILL FEEL THE SAME WAY AND ARE EXCITED TO HAVE YOUR PARTICIPATION AS WE TAKE THIS MONUMENTAL MOVE TOGETHER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3990 GIVEN TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION ANNUALLY REVIEWS ITS CONFLICT OF INTEREST POLICY AND HAS BOARD OF DIRECTORS SIGN A STATEMENT ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CERTAIN GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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