Civic Intelligence

Spring Lake Business Development Corporation

990 • Fiscal year 2023 • EIN 26-1243759

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 17, 2024

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

81st percentile

0.20x

Higher debt load relative to assets than 81% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Liabilities / Revenue

73rd percentile

0.05x

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

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Net Margin

58th percentile

11%

Higher net margin than 58% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Top Officer Pay

82nd percentile

$0

Higher top officer pay than 82% of similar nonprofits.

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

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Asset Growth

80th percentile

35%

Faster asset growth than 80% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

73rd percentile

35%

Faster revenue growth than 73% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$39,330

Up $10,102 (+35%) from 2022

Net Assets

Up

$31,485

Up $18,122 (+136%) from 2022

Liabilities

Down

$7,845

Down $8,020 (-51%) from 2022

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin58th percentile

Revenue

Up

$157,884

Up $40,560 (+35%) from 2022

Expenses

Down

$139,762

Down $1,418 (-1.0%) from 2022

Net Income

Up

$18,122

Up $41,978 (+176%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth80th 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

2023

Assets$39,330
Liabilities$7,845
Net Assets$31,485
Open 2023 Filing

Operations Trend

Revenue Growth73rd 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

2023

Revenue$157,884
Expenses$139,762
Net Income$18,122
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 17, 2024
Return Version
2023v5.0
Gross Receipts
$157,884
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$28,565$37,663▲ $9,098
Prepaid Expenses and Deferred Charges$663$1,667▲ $1,004
Total Assets$29,228$39,330▲ $10,102
Liabilities
Accounts Payable and Accrued Expenses$15,865$7,845▼ $8,020
Total Liabilities$15,865$7,845▼ $8,020
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,363$31,485▲ $18,122
Total Net Assets Fund Balance$13,363$31,485▲ $18,122
Total Liabilities and Net Assets / Fund Balance$29,228$39,330▲ $10,102
Compensation and Service Providers
Top Officer Pay82nd percentile

Board Members and Trustees

NameTitle
Richard ClaytonChairman
Syd WhalleyVice Chairma
BARRY O'BRIENDirector
Bradley RodriguezDirector
Carol PattersonDirector
Colleen HarringtonDirector
Ella FischerDirector
Kathleen McdonoughDirector
Kellie JohnsonDirector
Mark DolanDirector
Moya RushDirector
Natalie IwanykDirector
Paul MurphyDirector
Peter SaklasDirector
Sue MattiaDirector
Walter BraceroDirector
Hellin DesiderioAssistant Se
Anita KruseAssistant Tr
Jeanne CameliSecretary
Priscilla ReillyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$50,296
Program Service Revenue
$107,582
Investment Income
$6
Other Revenue
$0
All Other Contributions
$5,296
Change in Net Assets
$18,122

Audited Revenue Reconciliation

Revenue per Audited Statements
$157,884
Total Revenue per Audited Statements
$157,884
Total Revenue per Form 990
$157,884
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$90,829
Other Expenses$48,933
Total Fundraising Expense$12,840
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$20,737$48,308-$69,045
Fees for Services Other$18,582$8,507$12,840$39,929
Other Employee Benefits-$15,570-$15,570
Payroll Taxes$1,864$4,350-$6,214
Fees for Services Accounting-$4,150-$4,150
Insurance-$1,598-$1,598
Office Expenses$1,397$121-$1,518
Advertising$1,336--$1,336
Information Technology-$253-$253
Conferences and Meetings$78$71-$149
Total Functional Expenses$43,994$82,928$12,840$139,762

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$139,762
Total Expenses per Audited Statements$139,762
Total Expenses per Form 990$139,762
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
2024-06-17

Organization Details

Principal Officer
Richard Clayton
Formed
2007
Legal Domicile
Nj
Voting Board Members
19
Independent Board Members
19
Employees
2

Preparer

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

Additional Explanations

Form 990, Part IX, Line 11G

“Plantings and decorations 15,580 0 0 computer and software 0 2,345 0 telephone 0 2,868 0 supplies 1,810 1,538 0 entertainment 177 0 0 gifts/new business 0 1,252 0 memberships 0 504 0 event expenses 1,015 0 0 fundraising direct event expenses 0 0 12,840 total 18,582 8,507 12,840”

Raw XML Appendix373 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/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt125582
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt082000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt125582
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt035000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt071926
IRS990/PYProgramServiceRevenueAmt082324
IRS990/PYRevenuesLessExpensesAmt0-23856
IRS990/PYSalariesCompEmpBnftPaidAmt069254
IRS990/PYTotalExpensesAmt0141180
IRS990/PYTotalRevenueAmt0117324
IRS990/ReconcilationRevenueExpnssAmt018122
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0139762
IRS990ScheduleD/RevenueSubtotalAmt0157884
IRS990ScheduleD/TotalExpensesPerForm990Amt0139762
IRS990ScheduleD/TotalRevenuePerForm990Amt0157884
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0157884
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0139762
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 AND DECORATIONS 15,580 0 0 COMPUTER AND SOFTWARE 0 2,345 0 TELEPHONE 0 2,868 0 SUPPLIES 1,810 1,538 0 ENTERTAINMENT 177 0 0 GIFTS/NEW BUSINESS 0 1,252 0 MEMBERSHIPS 0 504 0 EVENT EXPENSES 1,015 0 0 FUNDRAISING DIRECT EVENT EXPENSES 0 0 12,840 TOTAL 18,582 8,507 12,840
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/TotalAssetsBOYAmt029228
IRS990/TotalAssetsEOYAmt039330
IRS990/TotalAssetsGrp/BOYAmt029228
IRS990/TotalAssetsGrp/EOYAmt039330
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt050296
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt012840
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt082928
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt043994
IRS990/TotalFunctionalExpensesGrp/TotalAmt0139762
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt015865
IRS990/TotalLiabilitiesEOYAmt07845
IRS990/TotalLiabilitiesGrp/BOYAmt015865
IRS990/TotalLiabilitiesGrp/EOYAmt07845
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt013363
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt031485
IRS990/TotalProgramServiceExpensesAmt043994
IRS990/TotalProgramServiceRevenueAmt0107582
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0107588
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0157884
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt029228
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt039330
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01207 3RD AVE
IRS990/USAddress/CityNm0SPRING LAKE
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007762
IRS990/VotingMembersGoverningBodyCnt019
IRS990/VotingMembersIndependentCnt019
IRS990/WebsiteAddressTxt0HTTP://VISITSPRINGLAKE.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD CLAYTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07324490037
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-06-17
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/IRSResponsiblePrtyInfoCurrInd0false
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/PreparationDt02024-06-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENDA DELMAESTRO CPA
ReturnHeader/ReturnTs02024-06-17T10:46:39-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RICHARD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CLAYTON
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$39,330
Liabilities
$7,845
Net assets
$31,485
Revenue
$157,884
Expenses
$139,762
Net income
$18,122
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