Civic Intelligence

Spring Lake Business Development Corporation

990 • Fiscal year 2018 • EIN 26-1243759

Jan 01, 2018 to Dec 31, 2018 • Filed on May 25, 2019

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

79th percentile

0.18x

Higher debt load relative to assets than 79% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Liabilities / Revenue

73rd percentile

0.06x

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

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Net Margin

28th percentile

-6.6%

Higher net margin than 28% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Top Officer Pay

86th percentile

$38,186

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 32.7% of source-year revenue.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Asset Growth

21st percentile

-16%

Faster asset growth than 21% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

67th percentile

10%

Faster revenue growth than 67% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets79th percentile

Assets

Down

$40,860

Down $8,014 (-16%) from 2017

Net Assets

Down

$33,497

Down $7,758 (-19%) from 2017

Liabilities

Down

$7,363

Down $256 (-3.4%) from 2017

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin28th percentile

Revenue

Up

$116,773

Up $10,690 (+10%) from 2017

Expenses

Up

$124,531

Up $28,138 (+29%) from 2017

Net Income

Down

-$7,758

Down $17,448 (-180%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth21st 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

2018

Assets$40,860
Liabilities$7,363
Net Assets$33,497
Open 2018 Filing

Operations Trend

Revenue Growth67th 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

2018

Revenue$116,773
Expenses$124,531
Net Income-$7,758
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 25, 2019
Return Version
2018v3.1
Gross Receipts
$116,773
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$48,219$40,197▼ $8,022
Prepaid Expenses and Deferred Charges$655$663▲ $8
Total Assets$48,874$40,860▼ $8,014
Liabilities
Accounts Payable and Accrued Expenses$7,619$7,363▼ $256
Total Liabilities$7,619$7,363▼ $256
Net Assets / Fund Balance
Unrestricted Net Assets$41,255$33,497▼ $7,758
Total Net Assets Fund Balance$41,255$33,497▼ $7,758
Total Liabilities and Net Assets / Fund Balance$48,874$40,860▼ $8,014
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dawn McdonoughExec DirectoPT$38,186$38,186

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
Priscilla ReillySecretary
Joe DesiderioTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$35,000
Program Service Revenue
$81,773
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-7,758

Audited Revenue Reconciliation

Revenue per Audited Statements
$116,773
Total Revenue per Audited Statements
$116,773
Total Revenue per Form 990
$116,773
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$69,097
Salaries, Compensation, and Employee Benefits$55,434
Total Fundraising Expense$11,159
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$39,258$11,501-$50,759
Fees for Services Other$32,852$921$11,159$44,932
Advertising$8,038--$8,038
Office Expenses$6,656$1,082-$7,738
Fees for Services Accounting-$6,133-$6,133
Payroll Taxes$3,274$1,401-$4,675
Conferences and Meetings$1,152$448-$1,600
Insurance-$656-$656
Total Functional Expenses$91,230$22,142$11,159$124,531

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$124,531
Total Expenses per Audited Statements$124,531
Total Expenses per Form 990$124,531
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
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
No
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
2019-05-25

Organization Details

Principal Officer
Richard Clayton
Formed
2007
Legal Domicile
Nj
Voting Board Members
21
Independent Board Members
21
Employees
2
Volunteers
60

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 10,161 0 0 decorations 2,005 0 0 design and maintenance 18,159 0 0 telephone 1,171 456 0 dues 23 7 0 miscellaneous 1,333 458 0 fundraising direct event expenses 0 0 11,159 total 32,852 921 11,159”

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IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
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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/NetAssetsOrFundBalancesBOYAmt041255
IRS990/NetAssetsOrFundBalancesEOYAmt033497
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01082
IRS990/OfficeExpensesGrp/ProgramServicesAmt06656
IRS990/OfficeExpensesGrp/TotalAmt07738
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt011501
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt039258
IRS990/OtherSalariesAndWagesGrp/TotalAmt050759
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01401
IRS990/PayrollTaxesGrp/ProgramServicesAmt03274
IRS990/PayrollTaxesGrp/TotalAmt04675
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0655
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0663
IRS990/PrincipalOfficerNm0RICHARD CLAYTON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0TAX ASSESSMENT REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1FUNDRAISING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt068000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt113773
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt068000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt113773
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt030000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt042921
IRS990/PYProgramServiceRevenueAmt076083
IRS990/PYRevenuesLessExpensesAmt09690
IRS990/PYSalariesCompEmpBnftPaidAmt053472
IRS990/PYTotalExpensesAmt096393
IRS990/PYTotalRevenueAmt0106083
IRS990/ReconcilationRevenueExpnssAmt0-7758
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0124531
IRS990ScheduleD/RevenueSubtotalAmt0116773
IRS990ScheduleD/TotalExpensesPerForm990Amt0124531
IRS990ScheduleD/TotalRevenuePerForm990Amt0116773
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0116773
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0124531
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 10,161 0 0 DECORATIONS 2,005 0 0 DESIGN AND MAINTENANCE 18,159 0 0 TELEPHONE 1,171 456 0 DUES 23 7 0 MISCELLANEOUS 1,333 458 0 FUNDRAISING DIRECT EVENT EXPENSES 0 0 11,159 TOTAL 32,852 921 11,159
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt048874
IRS990/TotalAssetsEOYAmt040860
IRS990/TotalAssetsGrp/BOYAmt048874
IRS990/TotalAssetsGrp/EOYAmt040860
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt035000
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt011159
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt022142
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt091230
IRS990/TotalFunctionalExpensesGrp/TotalAmt0124531
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07619
IRS990/TotalLiabilitiesEOYAmt07363
IRS990/TotalLiabilitiesGrp/BOYAmt07619
IRS990/TotalLiabilitiesGrp/EOYAmt07363
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt041255
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt033497
IRS990/TotalProgramServiceExpensesAmt091230
IRS990/TotalProgramServiceRevenueAmt081773
IRS990/TotalReportableCompFromOrgAmt038186
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt081773
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0116773
IRS990/TotalVolunteersCnt060
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt048874
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt040860
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt041255
IRS990/UnrestrictedNetAssetsGrp/EOYAmt033497
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/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD CLAYTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07324490037
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-25
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/IPDt02019-05-24
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:27:51
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
ReturnHeader/PreparerPersonGrp/PhoneNum07327463745
ReturnHeader/PreparerPersonGrp/PreparationDt02019-05-23

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$40,860
Liabilities
$7,363
Net assets
$33,497
Revenue
$116,773
Expenses
$124,531
Net income
-$7,758
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