Civic Intelligence

Coal Street Redevelopment Inc.

990 • Fiscal year 2021 • EIN 26-4692448

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

270 Pierce Street 301Kingston, PA 18704

(570) 824-3543

Siviq Scores

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

Liabilities / Assets

94th percentile

1.03x

Higher debt load relative to assets than 94% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

98th percentile

13.43x

Higher debt load relative to revenue than 98% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

5th percentile

-47%

Higher net margin than 5% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

11th percentile

-5.1%

Faster asset growth than 11% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

8th percentile

-30%

Faster revenue growth than 8% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Down

$8,443,890

Down $456,281 (-5.1%) from 2020

Net Assets

Down

-$228,380

Down $305,465 (-396%) from 2020

Liabilities

Down

$8,672,270

Down $150,816 (-1.7%) from 2020

Revenue

Down

$645,562

Down $276,946 (-30%) from 2020

Expenses

Up

$951,027

Up $30,821 (+3.3%) from 2020

Net Income

Down

-$305,465

Down $307,767 (-13370%) from 2020

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0MAssets 2016: $10,031,207Liabilities 2016: $12,120,988Net Assets 2016: -$2,089,7812016Assets 2017: $9,689,695Liabilities 2017: $9,347,246Net Assets 2017: $342,4492017Assets 2018: $9,313,068Liabilities 2018: $9,136,271Net Assets 2018: $176,7972018Assets 2019: $9,092,204Liabilities 2019: $9,017,421Net Assets 2019: $74,7832019Assets 2020: $8,900,171Liabilities 2020: $8,823,086Net Assets 2020: $77,0852020Assets 2021: $8,443,890Liabilities 2021: $8,672,270Net Assets 2021: -$228,3802021Assets 2022: $8,418,741Liabilities 2022: $8,913,040Net Assets 2022: -$494,2992022Assets 2023: $8,532,573Liabilities 2023: $9,588,741Net Assets 2023: -$1,056,1682023Assets 2024: $8,717,274Liabilities 2024: $9,602,367Net Assets 2024: -$885,0932024

Highlighted filing

2021

Assets$8,443,890
Liabilities$8,672,270
Net Assets-$228,380

Operations Trend

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

$4.0M$2.0M$0-$2.0MRevenue 2016: $847,376Expenses 2016: $1,214,104Net Income 2016: -$366,7282016Revenue 2017: $3,631,709Expenses 2017: $1,199,479Net Income 2017: $2,432,2302017Revenue 2018: $1,021,430Expenses 2018: $1,187,084Net Income 2018: -$165,6542018Revenue 2019: $910,169Expenses 2019: $1,091,733Net Income 2019: -$181,5642019Revenue 2020: $922,508Expenses 2020: $920,206Net Income 2020: $2,3022020Revenue 2021: $645,562Expenses 2021: $951,027Net Income 2021: -$305,4652021Revenue 2022: $713,930Expenses 2022: $922,077Net Income 2022: -$208,1472022Revenue 2023: $616,875Expenses 2023: $1,085,550Net Income 2023: -$468,6752023Revenue 2024: $1,157,284Expenses 2024: $1,046,129Net Income 2024: $111,1552024

Highlighted filing

2021

Revenue$645,562
Expenses$951,027
Net Income-$305,465
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$940,537
Mission and Program Overview

Mission

To provide an ice skating facility for the youth of wilkes-barre and surrounding communities for recreation and to provide a facility that serves to promote youth and adult hockey and interscholastic hockey.

Provide an ice skating facility for wilkes-barre & surrounding communities youth for recreation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,752,464$8,440,711▼ $311,753
Accounts Receivable$131,820--
Cash and Non-Interest-Bearing Accounts$15,887$3,179▼ $12,708
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$77,085$-228,380▼ $305,465
Total Assets$8,900,171$8,443,890▼ $456,281
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,712,751$8,499,699▼ $213,052
Accounts Payable and Accrued Expenses$77,835$140,071▲ $62,236
Deferred Revenue$32,500$32,500→ $0
Total Liabilities$8,823,086$8,672,270▼ $150,816
Net Assets / Fund Balance
Total Net Assets Fund Balance$77,085$-228,380▼ $305,465
Total Liabilities and Net Assets / Fund Balance$8,900,171$8,443,890▼ $456,281

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,357,976$3,567,543$11,925,519
Equipment$82,735$122,311$205,046
Compensation and Service Providers

Board Members and Trustees

NameTitle
Thomas EvansPresident
Thomas McgrathVice-president
Dr William MclaughlinRecreation Secretary
John CavanaughSecretary
Daniel Mccormick CPATreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$500,057
Investment Income
$0
Other Revenue
$145,505
Change in Net Assets
$-305,465

Audited Revenue Reconciliation

Revenue per Audited Statements
$940,537
Revenue Not Reported on Financial Statements
$-294,975
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-294,975
Total Revenue per Audited Statements
$940,537
Total Revenue per Form 990
$645,562
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$951,027
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$687,794--$687,794
Depreciation Depletion$177,699--$177,699
Interest$58,110--$58,110
Insurance$11,419--$11,419
Fees for Services Accounting-$10,835-$10,835
Fees for Services Legal-$5,170-$5,170
Total Functional Expenses$935,022$16,005$0$951,027

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,246,002
Expenses per Audited Statements$951,027
Total Expenses per Form 990$951,027
Expenses Not Reported on Form 990$294,975
Expenses Not Reported on Financial Statements$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The corporation's treasurer reviews form 990 before it is filed with the irs.

Form 990, Part VI, Section C, Line 18

The corporation maintains a copy of the forms 990 available for inspection at the treasurer's office.

Form 990, Part VI, Section C, Line 19

The corporation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Coal Street Redevelopment Inc
EIN
26-4692448
Phone
5708243543
Address
270 PIERCE STREET 301, KINGSTON, PA 18704

Signing Officer

Name
Daniel Mccormick CPA
Title
Treasurer
Phone
5708243543
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Mccormick CPA
Formed
2008
Legal Domicile
Pa
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Baker Tilly US Llp
Address
1000 COMMERCE PARK DR, WILLIAMSPORT, PA 17701
Preparer
Jaime L Kuntz CPA
Phone
5703236023
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require the corporation's management to evaluate tax positions taken by the corporation and recognize a tax liability if the corporation has taken an uncertain position that more-likely-than-not would not be sustained upon examination by the internal revenue service. Management has analyzed the tax positions taken by the corporation and has concluded that as of december 31, 2021, there are no uncertain positions taken, or expected to be taken, that would require recognition or disclosure in the financial statements. The corporation's tax returns since inception are subject to examination by the internal revenue service.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Rental expenses -294,975.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

RENTAL EXPENSES 294,975.

Raw XML Appendix381 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/ActivityOrMissionDesc0PROVIDE AN ICE SKATING FACILITY FOR WILKES-BARRE & SURROUNDING COMMUNITIES YOUTH FOR RECREATION.
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IRS990/Desc0THE CORPORATION PROVIDED ICE TIME FOR YOUTH HOCKEY LEAGUES AND RECREATIONAL ICE SKATING TO LOW INCOME CHILDREN IN THE AREA. THE CORPORATION ALSO FURNISHED ICE TIME FOR SCHOLASTIC HOCKEY. THE CORPORATION SPONSORED HOCKEY CLINICS FOR THE BENEFIT OF CHILDREN IN NORTHEASTERN PENNSYLVANIA.
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0500057
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0625556
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0718003
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0874949
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0777344
IRS990ScheduleA/Total509Grp/TotalAmt03495909
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0760661
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01010436
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01001179
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01124497
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt03576293
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt07473066
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt08357976
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03567543
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt011925519
IRS990ScheduleD/EquipmentGrp/BookValueAmt082735
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0122311
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0205046
IRS990ScheduleD/ExpensesNotReportedAmt0294975
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0951027
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesIncludedAmt0294975
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-294975
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-294975
IRS990ScheduleD/RevenueSubtotalAmt0940537
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE THE CORPORATION'S MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CORPORATION AND RECOGNIZE A TAX LIABILITY IF THE CORPORATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE-LIKELY-THAN-NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2021, THERE ARE NO UNCERTAIN POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CORPORATION'S TAX RETURNS SINCE INCEPTION ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL EXPENSES -294,975.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL EXPENSES 294,975.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08440711
IRS990ScheduleD/TotalExpensesPerForm990Amt0951027
IRS990ScheduleD/TotalRevenuePerForm990Amt0645562
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0940537
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01246002
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION'S TREASURER REVIEWS FORM 990 BEFORE IT IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION MAINTAINS A COPY OF THE FORMS 990 AVAILABLE FOR INSPECTION AT THE TREASURER'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CORPORATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0PA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt08900171
IRS990/TotalAssetsEOYAmt08443890
IRS990/TotalAssetsGrp/BOYAmt08900171
IRS990/TotalAssetsGrp/EOYAmt08443890
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016005
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0935022
IRS990/TotalFunctionalExpensesGrp/TotalAmt0951027
IRS990/TotalGrossUBIAmt088729
IRS990/TotalLiabilitiesBOYAmt08823086
IRS990/TotalLiabilitiesEOYAmt08672270
IRS990/TotalLiabilitiesGrp/BOYAmt08823086
IRS990/TotalLiabilitiesGrp/EOYAmt08672270
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt077085
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-228380
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0935022
IRS990/TotalProgramServiceRevenueAmt0500057
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt056776
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0500057
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0645562
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt088729
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08900171
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08443890
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0270 PIERCE STREET 301
IRS990/USAddress/CityNm0KINGSTON
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd018704
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0"N/A"
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL MCCORMICK CPA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05708243543
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0COAL STREET REDEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0COAL
ReturnHeader/Filer/EIN0264692448
ReturnHeader/Filer/PhoneNum05708243543
ReturnHeader/Filer/USAddress/AddressLine1Txt0270 PIERCE STREET 301
ReturnHeader/Filer/USAddress/CityNm0KINGSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd018704
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390859910
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BAKER TILLY US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01000 COMMERCE PARK DR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WILLIAMSPORT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd017701
ReturnHeader/PreparerPersonGrp/PhoneNum05703236023
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAIME L KUNTZ CPA
ReturnHeader/ReturnTs02022-11-15T12:45:14-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DANIEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MCCORMICK CPA
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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