Civic Intelligence

18 Washington Place Properties Inc

990 • Fiscal year 2016 • EIN 42-1720393

Jan 01, 2016 to Dec 31, 2016 • Filed on May 03, 2017

Organization Profile
701-703 McCARTA HIGHWAYNewark, NJ 07102

(973) 735-6464

Siviq Scores

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

Liabilities / Assets

54th percentile

0.53x

Higher debt load relative to assets than 54% of similar nonprofits.

2016 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

13th percentile

0.00x

Higher debt load relative to revenue than 13% of similar nonprofits.

2016 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2016

Net Margin

78th percentile

90%

Higher net margin than 78% of similar nonprofits.

2016 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

56th percentile

$145,065

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2016 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2016

Asset Growth

1st percentile

-99%

Faster asset growth than 1% of similar nonprofits.

2016 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

96th percentile

905%

Faster revenue growth than 96% of similar nonprofits.

2016 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets54th percentile

Assets

Down

$21,593

Down $3,231,039 (-99%) from 2015

Net Assets

Down

$10,159

Down $3,238,713 (-100%) from 2015

Liabilities

Up

$11,434

Up $7,674 (+204%) from 2015

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin78th percentile

Revenue

Up

$3,315,639

Up $2,985,639 (+905%) from 2015

Expenses

Down

$326,119

Down $57,003 (-15%) from 2015

Net Income

Up

$2,989,520

Up $3,042,642 (+5728%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $4,893,930Liabilities 2010: $22,690Net Assets 2010: $4,871,2402010Assets 2011: $4,794,425Liabilities 2011: $500Net Assets 2011: $4,793,9252011Assets 2012: $3,677,815Liabilities 2012: $20,569Net Assets 2012: $3,657,2462012Assets 2013: $3,522,284Liabilities 2013: $35,684Net Assets 2013: $3,486,6002013Assets 2014: $3,410,404Liabilities 2014: $8,411Net Assets 2014: $3,401,9932014Assets 2015: $3,252,632Liabilities 2015: $3,760Net Assets 2015: $3,248,8722015Assets 2016: $21,593Liabilities 2016: $11,434Net Assets 2016: $10,1592016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2016

Assets$21,593
Liabilities$11,434
Net Assets$10,159
Open 2016 Filing

Operations Trend

Revenue Growth96th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $310,6062010Expenses 2011: $295,9152011Expenses 2012: $289,4342012Revenue 2013: $348,000Expenses 2013: $318,667Net Income 2013: $29,3332013Revenue 2014: $334,800Expenses 2014: $319,407Net Income 2014: $15,3932014Revenue 2015: $330,000Expenses 2015: $383,122Net Income 2015: -$53,1222015Revenue 2016: $3,315,639Expenses 2016: $326,119Net Income 2016: $2,989,5202016Revenue 2017: $0Expenses 2017: $14,100Net Income 2017: -$14,1002017

Highlighted filing

2016

Revenue$3,315,639
Expenses$326,119
Net Income$2,989,520
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 3, 2017
Return Version
2016v3.0
Gross Receipts
$6,525,000
Mission and Program Overview

Mission

Rental of office space the proceeds of which are used to assist the union members of the ny nj regional joint board metro dist. Truck jb that are the owners of this entity.

Rental of office space the proceeds of which are used to assist the union members of the ny nj regional joint board metro dist truck jb that are the owners of this entity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,217,116--
Accounts Receivable$27,500--
Cash and Non-Interest-Bearing Accounts$6,660$20,093▲ $13,433
Prepaid Expenses and Deferred Charges$1,356$1,500▲ $144
Total Assets$3,252,632$21,593▼ $3,231,039
Liabilities
Accounts Payable and Accrued Expenses$3,760$11,434▲ $7,674
Total Liabilities$3,760$11,434▲ $7,674
Net Assets / Fund Balance
Unrestricted Net Assets$3,248,872$10,159▼ $3,238,713
Total Net Assets Fund Balance$3,248,872$10,159▼ $3,238,713
Total Liabilities and Net Assets / Fund Balance$3,252,632$21,593▼ $3,231,039

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$2,858,269$2,858,269
Leasehold Improvements-$652,806$652,806
Land--$650,000
Other Land Buildings-$28,014$28,014
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Wilfredo LarancentTrustee-$145,065$145,065
KEVIN McCANNTrusteePT$135,208$135,208
Fred KaplanTrustee-$111,344$111,344
Julie KellyTrustee-$110,974$110,974
Albert ArroyoTrustee-$105,927$105,927
Megan ChambersTrustee-$94,399$94,399

Board Members and Trustees

NameTitle
Christine KerberTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$3,040,639
Other Revenue
$275,000
Change in Net Assets
$2,989,520
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$326,119
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
All Other Expenses-$69,873-$69,873
Insurance-$12,529-$12,529
Fees for Services Management-$6,000-$6,000
Other Expenses-$5,186-$5,186
Fees for Services Legal-$3,942-$3,942
Fees for Services Accounting-$3,000-$3,000
Total Functional Expenses$0$326,119$0$326,119
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Metropolitan Distribution JB-
NY NJ Joint Board-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section B, Line 12C

“The organization regularly monitors policy as instructed by the affiliated organizations, the new york new jersey regional joint board and the the laundry distribution and food service joint board.”

Form 990, Part VI, Section A, Line 6

“Although this is a real estate company it is a subsidiary of the ny nj regional jt bd and the laundry distribution and food service jt bd, whose members pay dues and have voting rights”

Form 990, Part VI, Section A, Line 7A

“Although this is a real estate company it is a subsidiary of the ny nj regional jt bd and the laundry distribution and food service jt bd, whose members pay dues and have voting rights”

Form 990, Part VI, Section A, Line 7B

“Constitutional changes need to be approved by the general membership”

Form 990, Part VI, Section C, Line 11

“A copy of the form 990 is fouted to the trustees prior to filing”

Filing and Contact Details

Filer

Filer Name
18 Washington Properties Inc
EIN
42-1720393
Address
701-703 McCARTA HIGHWAY, Newark, NJ 07102

Signing Officer

Name
Kevin Mccann
Title
Treasurer
Signed
2017-05-03
Discuss with paid preparer
Yes

Organization Details

Formed
2007
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Rocco J Ricciardi CPA
Address
100 QUENTIN ROOSEVELT BLVD SUITE 20, GARDEN CITY, NY 10530
Preparer
Rocco J Ricciardi
Phone
5165243501
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“The organization made a distriution under sec 502c2 to the shareholder of 30,000.00 each totalling 60,000.00. In addition, a distribution was made to two shareholders based on the sale of the building each totaling 3,084,116.96.”

Form 990, Part XI, Line 9

“ROUNDING.”

Raw XML Appendix394 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION REGULARLY MONITORS POLICY AS INSTRUCTED BY THE AFFILIATED ORGANIZATIONS, THE NEW YORK NEW JERSEY REGIONAL JOINT BOARD AND THE THE LAUNDRY DISTRIBUTION AND FOOD SERVICE JOINT BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALTHOUGH THIS IS A REAL ESTATE COMPANY IT IS A SUBSIDIARY OF THE NY NJ REGIONAL JT BD AND THE LAUNDRY DISTRIBUTION AND FOOD SERVICE JT BD, WHOSE MEMBERS PAY DUES AND HAVE VOTING RIGHTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALTHOUGH THIS IS A REAL ESTATE COMPANY IT IS A SUBSIDIARY OF THE NY NJ REGIONAL JT BD AND THE LAUNDRY DISTRIBUTION AND FOOD SERVICE JT BD, WHOSE MEMBERS PAY DUES AND HAVE VOTING RIGHTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSTITUTIONAL CHANGES NEED TO BE APPROVED BY THE GENERAL MEMBERSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF THE FORM 990 IS FOUTED TO THE TRUSTEES PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MADE A DISTRIUTION UNDER SEC 502C2 TO THE SHAREHOLDER OF 30,000.00 EACH TOTALLING 60,000.00. IN ADDITION, A DISTRIBUTION WAS MADE TO TWO SHAREHOLDERS BASED ON THE SALE OF THE BUILDING EACH TOTALING 3,084,116.96.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ROUNDING.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, Line 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, Line 9
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1Metropolitan Dist & Truck JB
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0134908365
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1200414657
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501c 5
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Union
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Union
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt018 Washington Place
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt118 Washington Place
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Newark
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Newark
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1NJ
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0true
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03252632
IRS990/TotalAssetsEOYAmt021593
IRS990/TotalAssetsGrp/BOYAmt03252632
IRS990/TotalAssetsGrp/EOYAmt021593
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0326119
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03760
IRS990/TotalLiabilitiesEOYAmt011434
IRS990/TotalLiabilitiesGrp/BOYAmt03760
IRS990/TotalLiabilitiesGrp/EOYAmt011434
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03248872
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010159
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03315639
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03252632
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt021593
IRS990/TotReportableCompRltdOrgAmt0702917
IRS990/TravelGrp/TotalAmt00
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03248872
IRS990/UnrestrictedNetAssetsGrp/EOYAmt010159
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0701-703 McCARTA HIGHWAY
IRS990/USAddress/CityNm0Newark
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IRS990/USAddress/ZIPCd007102
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN MCCANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt018 WASHINGTON PROPERTIES INC
ReturnHeader/Filer/BusinessNameControlTxt018WA
ReturnHeader/Filer/EIN0421720393
ReturnHeader/Filer/USAddress/AddressLine1Txt0701-703 McCARTA HIGHWAY
ReturnHeader/Filer/USAddress/CityNm0Newark
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007102
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId041DA11FE229A087A24F88D821F79D055EF150779
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId044CD6CF05C65E342240DC404D77146ACEA53BD78
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.108.66.242
ReturnHeader/FilingSecurityInformation/IPDt02017-05-03
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm011:58:59
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROCCO J RICCIARDI CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 QUENTIN ROOSEVELT BLVD SUITE 20
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GARDEN CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010530
ReturnHeader/PreparerPersonGrp/PhoneNum05165243501
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROCCO J RICCIARDI
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-05-03T07:59:25-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$21,593
Liabilities
$11,434
Net assets
$10,159
Revenue
$3,315,639
Expenses
$326,119
Net income
$2,989,520
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.01$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.02$0.01$0.01$3.32$0.33$2.99
2015Detailed filing. Detailed filing data is available for this year.$3.25$0.00$3.25$0.33$0.38$0.05
2014Detailed filing. Detailed filing data is available for this year.$3.41$0.01$3.40$0.33$0.32$0.02
2013Detailed filing. Detailed filing data is available for this year.$3.52$0.04$3.49$0.35$0.32$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.68$0.02$3.66$0.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.79$0.00$4.79$0.30
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.89$0.02$4.87$0.31