Civic Intelligence

Spring Lake Business Development Corporation

990 • Fiscal year 2019 • EIN 26-1243759

Jan 01, 2019 to Dec 31, 2019 • Filed on Oct 22, 2020

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

82nd percentile

0.23x

Higher debt load relative to assets than 82% of similar nonprofits.

2019 filings • NTEE S • <$500k nonprofits • Source year 2019

Liabilities / Revenue

75th percentile

0.09x

Higher debt load relative to revenue than 75% of similar nonprofits.

2019 filings • NTEE S • <$500k nonprofits • Source year 2019

Net Margin

42nd percentile

0.3%

Higher net margin than 42% of similar nonprofits.

2019 filings • NTEE S • <$500k nonprofits • Source year 2019

Top Officer Pay

87th percentile

$38,726

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 33.5% of source-year revenue.

2019 filings • NTEE S • <$500k nonprofits • Source year 2019

Asset Growth

59th percentile

7.2%

Faster asset growth than 59% of similar nonprofits.

2019 filings • NTEE S • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

44th percentile

-0.9%

Faster revenue growth than 44% of similar nonprofits.

2019 filings • NTEE S • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$43,783

Up $2,923 (+7.2%) from 2018

Net Assets

Up

$33,842

Up $345 (+1.0%) from 2018

Liabilities

Up

$9,941

Up $2,578 (+35%) from 2018

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin42nd percentile

Revenue

Down

$115,669

Down $1,104 (-0.9%) from 2018

Expenses

Down

$115,324

Down $9,207 (-7.4%) from 2018

Net Income

Up

$345

Up $8,103 (+104%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth59th 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

2019

Assets$43,783
Liabilities$9,941
Net Assets$33,842
Open 2019 Filing

Operations Trend

Revenue Growth44th 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

2019

Revenue$115,669
Expenses$115,324
Net Income$345
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 22, 2020
Return Version
2019v5.0
Gross Receipts
$115,669
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$40,197$43,120▲ $2,923
Prepaid Expenses and Deferred Charges$663$663→ $0
Total Assets$40,860$43,783▲ $2,923
Liabilities
Accounts Payable and Accrued Expenses$7,363$9,941▲ $2,578
Total Liabilities$7,363$9,941▲ $2,578
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$33,497$33,842▲ $345
Total Net Assets Fund Balance$33,497$33,842▲ $345
Total Liabilities and Net Assets / Fund Balance$40,860$43,783▲ $2,923
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dawn McdonoughExec DirectoPT$38,726$38,726

Board Members and Trustees

NameTitle
Richard ClaytonChairman
Syd WhalleyVice Chairma
Anita KruseDirector
BARRY O'BRIENDirector
Carol PattersonDirector
Colleen HarringtonDirector
GEORGE D'AMICODirector
Hellin DesiderioDirector
Jeanne CameliDirector
John FudgeDirector
John PaulusDirector
Mary Lee RivasDirector
Matthew SaguiDirector
Moya RushDirector
Paul CancroDirector
Peter SaklasDirector
Priscilla ReillyDirector
Sue MattiaDirector
Susan BielickiDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$35,000
Program Service Revenue
$80,669
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$345

Audited Revenue Reconciliation

Revenue per Audited Statements
$115,669
Total Revenue per Audited Statements
$115,669
Total Revenue per Form 990
$115,669
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$72,027
Salaries, Compensation, and Employee Benefits$43,297
Total Fundraising Expense$8,670
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$29,500$7,375-$36,875
Fees for Services Other$20,686$2,321$8,670$31,677
Advertising$24,771$1,909-$26,680
Payroll Taxes$4,936$1,486-$6,422
Fees for Services Accounting-$6,170-$6,170
Office Expenses$2,698$1,102-$3,800
Conferences and Meetings$1,000$1,534-$2,534
Information Technology-$1,166-$1,166
Total Functional Expenses$83,591$23,063$8,670$115,324

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$115,324
Total Expenses per Audited Statements$115,324
Total Expenses per Form 990$115,324
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 35% controlled entity
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
2020-10-22

Organization Details

Principal Officer
Richard Clayton
Formed
2007
Legal Domicile
Nj
Voting Board Members
20
Independent Board Members
20
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 14,466 0 0 decorations 6,042 0 0 telephone 0 1,990 0 miscellaneous 178 331 0 fundraising direct event expenses 0 0 8,670 total 20,686 2,321 8,670”

Raw XML Appendix375 raw XML fields

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/ReconcilationRevenueExpnssAmt0345
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0115324
IRS990ScheduleD/RevenueSubtotalAmt0115669
IRS990ScheduleD/TotalExpensesPerForm990Amt0115324
IRS990ScheduleD/TotalRevenuePerForm990Amt0115669
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0115669
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0115324
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 14,466 0 0 DECORATIONS 6,042 0 0 TELEPHONE 0 1,990 0 MISCELLANEOUS 178 331 0 FUNDRAISING DIRECT EVENT EXPENSES 0 0 8,670 TOTAL 20,686 2,321 8,670
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/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt040860
IRS990/TotalAssetsEOYAmt043783
IRS990/TotalAssetsGrp/BOYAmt040860
IRS990/TotalAssetsGrp/EOYAmt043783
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt035000
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt08670
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt023063
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt083591
IRS990/TotalFunctionalExpensesGrp/TotalAmt0115324
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07363
IRS990/TotalLiabilitiesEOYAmt09941
IRS990/TotalLiabilitiesGrp/BOYAmt07363
IRS990/TotalLiabilitiesGrp/EOYAmt09941
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt033497
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt033842
IRS990/TotalProgramServiceExpensesAmt083591
IRS990/TotalProgramServiceRevenueAmt080669
IRS990/TotalReportableCompFromOrgAmt038726
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt080669
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0115669
IRS990/TotalVolunteersCnt055
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt040860
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt043783
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01207 3RD AVE
IRS990/USAddress/CityNm0SPRING LAKE
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007762
IRS990/VotingMembersGoverningBodyCnt020
IRS990/VotingMembersIndependentCnt020
IRS990/WebsiteAddressTxt0HTTP://VISITSPRINGLAKE.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD CLAYTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07324490037
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-22
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/IPDt02020-10-30
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm015:13:20
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/PreparationDt02020-10-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JENNIFER HULIT CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-10-30T15:13:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$43,783
Liabilities
$9,941
Net assets
$33,842
Revenue
$115,669
Expenses
$115,324
Net income
$345
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