Civic Intelligence

Spring Lake Business Development Corporation

990 • Fiscal year 2017 • EIN 26-1243759

Jan 01, 2017 to Dec 31, 2017 • Filed on Jun 19, 2018

Organization ProfileVISITSPRINGLAKE.COM
1207 3rd AveSpring Lake, NJ 07762

(732) 449-0037

Siviq Scores

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

Liabilities / Assets

77th percentile

0.16x

Higher debt load relative to assets than 77% of similar nonprofits.

2017 filings • NTEE S • <$500k nonprofits • Source year 2017

Liabilities / Revenue

73rd percentile

0.07x

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

2017 filings • NTEE S • <$500k nonprofits • Source year 2017

Net Margin

61st percentile

9.1%

Higher net margin than 61% of similar nonprofits.

2017 filings • NTEE S • <$500k nonprofits • Source year 2017

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2017 filings • NTEE S • <$500k nonprofits • Source year 2017

Asset Growth

77th percentile

26%

Faster asset growth than 77% of similar nonprofits.

2017 filings • NTEE S • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

65th percentile

13%

Faster revenue growth than 65% of similar nonprofits.

2017 filings • NTEE S • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$48,874

Up $10,095 (+26%) from 2016

Net Assets

Up

$41,255

Up $9,690 (+31%) from 2016

Liabilities

Up

$7,619

Up $405 (+5.6%) from 2016

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin61st percentile

Revenue

Up

$106,083

Up $11,972 (+13%) from 2016

Expenses

Down

$96,393

Down $5,059 (-5.0%) from 2016

Net Income

Up

$9,690

Up $17,031 (+232%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$60K$40K$20K$0Assets 2013: $50,437Liabilities 2013: $9,603Net Assets 2013: $40,8342013Assets 2014: $36,419Liabilities 2014: $7,833Net Assets 2014: $28,5862014Assets 2015: $47,586Liabilities 2015: $8,680Net Assets 2015: $38,9062015Assets 2016: $38,779Liabilities 2016: $7,214Net Assets 2016: $31,5652016Assets 2017: $48,874Liabilities 2017: $7,619Net Assets 2017: $41,2552017Assets 2018: $40,860Liabilities 2018: $7,363Net Assets 2018: $33,4972018Assets 2019: $43,783Liabilities 2019: $9,941Net Assets 2019: $33,8422019Assets 2020: $47,802Liabilities 2020: $7,371Net Assets 2020: $40,4312020Assets 2021: $43,644Liabilities 2021: $6,425Net Assets 2021: $37,2192021Assets 2022: $29,228Liabilities 2022: $15,865Net Assets 2022: $13,3632022Assets 2023: $39,330Liabilities 2023: $7,845Net Assets 2023: $31,4852023Assets 2024: $33,467Liabilities 2024: $8,506Net Assets 2024: $24,9612024

Highlighted filing

2017

Assets$48,874
Liabilities$7,619
Net Assets$41,255
Open 2017 Filing

Operations Trend

Revenue Growth65th percentile

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

$200K$150K$100K$50K$0-$50KRevenue 2013: $110,133Expenses 2013: $108,718Net Income 2013: $1,4152013Revenue 2014: $96,557Expenses 2014: $108,805Net Income 2014: -$12,2482014Revenue 2015: $110,543Expenses 2015: $100,223Net Income 2015: $10,3202015Revenue 2016: $94,111Expenses 2016: $101,452Net Income 2016: -$7,3412016Revenue 2017: $106,083Expenses 2017: $96,393Net Income 2017: $9,6902017Revenue 2018: $116,773Expenses 2018: $124,531Net Income 2018: -$7,7582018Revenue 2019: $115,669Expenses 2019: $115,324Net Income 2019: $3452019Revenue 2020: $105,940Expenses 2020: $99,351Net Income 2020: $6,5892020Revenue 2021: $111,393Expenses 2021: $114,605Net Income 2021: -$3,2122021Revenue 2022: $117,324Expenses 2022: $141,180Net Income 2022: -$23,8562022Revenue 2023: $157,884Expenses 2023: $139,762Net Income 2023: $18,1222023Revenue 2024: $159,686Expenses 2024: $166,210Net Income 2024: -$6,5242024

Highlighted filing

2017

Revenue$106,083
Expenses$96,393
Net Income$9,690
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 19, 2018
Return Version
2017v2.3
Gross Receipts
$106,083
Mission and Program Overview

Mission

To enhance the economic viability of the Spring Lake Downtown Business Community and the Borough of Spring Lake through marketing, public relations, and business development. relations, and business development.

To enhance the economic viability of the spring lake downtown business community and the borough of spring lake through marketing, public relations and business development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$38,774$48,219▲ $9,445
Prepaid Expenses and Deferred Charges$5$655▲ $650
Total Assets$38,779$48,874▲ $10,095
Liabilities
Accounts Payable and Accrued Expenses$7,214$7,619▲ $405
Total Liabilities$7,214$7,619▲ $405
Net Assets / Fund Balance
Unrestricted Net Assets$31,565$41,255▲ $9,690
Total Net Assets Fund Balance$31,565$41,255▲ $9,690
Total Liabilities and Net Assets / Fund Balance$38,779$48,874▲ $10,095
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Richard ClaytonChairman
Syd WhalleyVice Chairma
Alison KeatingDirector
Anita KruseDirector
Carol PattersonDirector
Colleen HarringtonDirector
GEORGE D'AMICODirector
Jeanne CameliDirector
Jim BrownDirector
John FudgeDirector
John PaulusDirector
Mary Lee RivasDirector
Matthew SaguiDirector
Moya RushDirector
Paul CancroDirector
Peter SaklasDirector
Sandra DenisonDirector
Sue MattiaDirector
CHRIS D'EUFEMIAAsst Secreta
Dawn McdonoughExec Directo
Priscilla ReillySecretary
Joe DesiderioTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$30,000
Program Service Revenue
$76,083
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$9,690

Audited Revenue Reconciliation

Revenue per Audited Statements
$106,083
Total Revenue per Audited Statements
$106,083
Total Revenue per Form 990
$106,083
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$53,472
Other Expenses$42,921
Total Fundraising Expense$2,506
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$38,105$10,966-$49,071
Fees for Services Other$13,994$869$2,506$17,369
Advertising$11,619--$11,619
Fees for Services Accounting-$6,598-$6,598
Payroll Taxes$3,081$1,320-$4,401
Office Expenses$3,623$453-$4,076
Conferences and Meetings$2,342$907-$3,249
Insurance-$10-$10
Total Functional Expenses$72,764$21,123$2,506$96,393

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$96,393
Total Expenses per Audited Statements$96,393
Total Expenses per Form 990$96,393
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“Voting is executed during board meetings”

Form 990, Page 6, Part VI, Line 11B

“The board will review the form 990 before filing.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Spring Lake Business Development
EIN
26-1243759
Phone
7324490037
Address
1207 3RD AVE, SPRING LAKE, NJ 07762

Signing Officer

Name
Richard Clayton
Title
Chairman
Phone
7324490037
Signed
2018-06-19

Organization Details

Principal Officer
Richard Clayton
Formed
2007
Legal Domicile
Nj
Voting Board Members
21
Independent Board Members
21
Employees
2
Volunteers
55

Preparer

Firm
Hulit CPA LLC
Address
516 BAY AVE, POINT PLEASANT BEACH, NJ 08742
Preparer
Jennifer Hulit CPA
Phone
7327463745
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Plantings 9,469 0 0 decorations 2,184 0 0 design and maintenance 35 0 0 telephone 1,010 393 0 dues 204 61 0 miscellaneous 1,092 415 0 fundraising direct event expenses 0 0 2,506 total 13,994 869 2,506”

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IRS990/MissionDesc0TO ENHANCE THE ECONOMIC VIABILITY OF THE SPRING LAKE DOWNTOWN BUSINESS COMMUNITY AND BOROUGH OF SPRING LAKE THROUGH MARKETING, PUBLIC RELATIONS AND BUSINESS DEVELOPMENT.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt031565
IRS990/NetAssetsOrFundBalancesEOYAmt041255
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0453
IRS990/OfficeExpensesGrp/ProgramServicesAmt03623
IRS990/OfficeExpensesGrp/TotalAmt04076
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt010966
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt038105
IRS990/OtherSalariesAndWagesGrp/TotalAmt049071
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01320
IRS990/PayrollTaxesGrp/ProgramServicesAmt03081
IRS990/PayrollTaxesGrp/TotalAmt04401
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0655
IRS990/PrincipalOfficerNm0RICHARD CLAYTON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0TAX ASSESSMENT REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1FUNDRAISING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt068000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt18083
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt068000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt18083
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt030000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt046125
IRS990/PYOtherRevenueAmt0-3889
IRS990/PYProgramServiceRevenueAmt068000
IRS990/PYRevenuesLessExpensesAmt0-7341
IRS990/PYSalariesCompEmpBnftPaidAmt055327
IRS990/PYTotalExpensesAmt0101452
IRS990/PYTotalRevenueAmt094111
IRS990/ReconcilationRevenueExpnssAmt09690
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt096393
IRS990ScheduleD/RevenueSubtotalAmt0106083
IRS990ScheduleD/TotalExpensesPerForm990Amt096393
IRS990ScheduleD/TotalRevenuePerForm990Amt0106083
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0106083
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt096393
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOTING IS EXECUTED DURING BOARD MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD WILL REVIEW THE FORM 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PLANTINGS 9,469 0 0 DECORATIONS 2,184 0 0 DESIGN AND MAINTENANCE 35 0 0 TELEPHONE 1,010 393 0 DUES 204 61 0 MISCELLANEOUS 1,092 415 0 FUNDRAISING DIRECT EVENT EXPENSES 0 0 2,506 TOTAL 13,994 869 2,506
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt038779
IRS990/TotalAssetsEOYAmt048874
IRS990/TotalAssetsGrp/BOYAmt038779
IRS990/TotalAssetsGrp/EOYAmt048874
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt030000
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02506
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt021123
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt072764
IRS990/TotalFunctionalExpensesGrp/TotalAmt096393
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07214
IRS990/TotalLiabilitiesEOYAmt07619
IRS990/TotalLiabilitiesGrp/BOYAmt07214
IRS990/TotalLiabilitiesGrp/EOYAmt07619
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt031565
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt041255
IRS990/TotalProgramServiceExpensesAmt072764
IRS990/TotalProgramServiceRevenueAmt076083
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt076083
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0106083
IRS990/TotalVolunteersCnt055
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt038779
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt048874
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt031565
IRS990/UnrestrictedNetAssetsGrp/EOYAmt041255
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01207 3RD AVE
IRS990/USAddress/CityNm0SPRING LAKE
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007762
IRS990/VotingMembersGoverningBodyCnt021
IRS990/VotingMembersIndependentCnt021
IRS990/WebsiteAddressTxt0HTTP://VISITSPRINGLAKE.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD CLAYTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07324490037
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-06-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SPRING LAKE BUSINESS DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORP
ReturnHeader/Filer/BusinessNameControlTxt0SPRI
ReturnHeader/Filer/EIN0261243759
ReturnHeader/Filer/PhoneNum07324490037
ReturnHeader/Filer/USAddress/AddressLine1Txt01207 3RD AVE
ReturnHeader/Filer/USAddress/CityNm0SPRING LAKE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007762
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0FCC441EEF060F687D51946BC22A21568E8654D82
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0FCC441EEF060F687D51946BC22A21568E8654D82
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt073.150.172.186
ReturnHeader/FilingSecurityInformation/IPDt02018-07-06
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm012:28:40
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0384039236
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HULIT CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0516 BAY AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0POINT PLEASANT BEACH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008742

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$48,874
Liabilities
$7,619
Net assets
$41,255
Revenue
$106,083
Expenses
$96,393
Net income
$9,690
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.33$0.09$0.25$1.60$1.66$0.07
2023Detailed filing. Detailed filing data is available for this year.$0.39$0.08$0.31$1.58$1.40$0.18
2022Detailed filing. Detailed filing data is available for this year.$0.29$0.16$0.13$1.17$1.41$0.24
2021Detailed filing. Detailed filing data is available for this year.$0.44$0.06$0.37$1.11$1.15$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.48$0.07$0.40$1.06$0.99$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.44$0.10$0.34$1.16$1.15$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.41$0.07$0.33$1.17$1.25$0.08
2017Detailed filing. Detailed filing data is available for this year.$0.49$0.08$0.41$1.06$0.96$0.10
2016Detailed filing. Detailed filing data is available for this year.$0.39$0.07$0.32$0.94$1.01$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.48$0.09$0.39$1.11$1.00$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.36$0.08$0.29$0.97$1.09$0.12
2013Detailed filing. Detailed filing data is available for this year.$0.50$0.10$0.41$1.10$1.09$0.01