Civic Intelligence

Asbury Park Redevelopment and Improvement Entity

990 • Fiscal year 2019 • EIN 47-2807969

Jan 01, 2019 to Dec 31, 2019 • Filed on Dec 14, 2020

Organization Profile
1000 Third AveAsbury Park, NJ 07712

(732) 222-3747

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

98th percentile

95%

Higher net margin than 98% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

86th percentile

57%

Faster asset growth than 86% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

6th percentile

-65%

Faster revenue growth than 6% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$229,674

Up $83,505 (+57%) from 2018

Net Assets

Up

$229,674

Up $83,505 (+57%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin98th percentile

Revenue

Down

$87,771

Down $163,689 (-65%) from 2018

Expenses

Down

$4,266

Down $101,025 (-96%) from 2018

Net Income

Down

$83,505

Down $62,664 (-43%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$300K$200K$100K$0Assets 2018: $146,169Liabilities 2018: $0Net Assets 2018: $146,1692018Assets 2019: $229,674Liabilities 2019: $0Net Assets 2019: $229,6742019

Highlighted filing

2019

Assets$229,674
Liabilities$0
Net Assets$229,674
Open 2019 Filing

Operations Trend

Revenue Growth6th percentile

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

$300K$200K$100K$0Revenue 2018: $251,460Expenses 2018: $105,291Net Income 2018: $146,1692018Revenue 2019: $87,771Expenses 2019: $4,266Net Income 2019: $83,5052019

Highlighted filing

2019

Revenue$87,771
Expenses$4,266
Net Income$83,505
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Dec 14, 2020
Return Version
2019v5.0
Gross Receipts
$87,771
Mission and Program Overview

Mission

To develop, create, and manage housing in and around the area of the city of asbury park new jersey for low and very low income families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$145,808$120,103▼ $25,705
Cash and Non-Interest-Bearing Accounts$361$109,571▲ $109,210
Total Assets$146,169$229,674▲ $83,505
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$146,169$229,674▲ $83,505
Total Net Assets Fund Balance$146,169$229,674▲ $83,505
Total Liabilities and Net Assets / Fund Balance$146,169$229,674▲ $83,505
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Thomas SahlinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$87,500
Investment Income
$271
Other Revenue
$0
Change in Net Assets
$83,505

Audited Revenue Reconciliation

Revenue per Audited Statements
$87,771
Total Revenue per Audited Statements
$87,771
Total Revenue per Form 990
$87,771
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,266
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
Fees for Services Accounting$4,000--$4,000
Office Expenses$266--$266
Total Functional Expenses$4,266$0$0$4,266

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,266
Total Expenses per Audited Statements$4,266
Total Expenses per Form 990$4,266
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
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
No
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 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Asbury Park Redevelopment and
EIN
47-2807969
Phone
7322223747
Address
1000 THIRD AVE, ASBURY PARK, NJ 07712

Signing Officer

Name
Thomas Sahlin
Title
Treasurer
Phone
7322223747
Signed
2020-12-14

Organization Details

Principal Officer
Gregory Hopson Sr
Formed
2015
Legal Domicile
Nj
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Hymanson Parnes & Giampaolo Pc
Address
467 MIDDLETOWN LINCROFT RD, LINCROFT, NJ 07738-1123
Preparer
Anthony Giampaolo CPA
Phone
7328424550
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To operate/manage subsidized housign for low income families and to create/develop more affordable housing for low or very low income families”

Raw XML Appendix239 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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ReturnHeader/ReturnTs02020-12-14T12:00:51-06:00
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ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$229,674
Liabilities
$0
Net assets
$229,674
Revenue
$87,771
Expenses
$4,266
Net income
$83,505
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$2.30$0.00$2.30$0.88$0.04$0.84
2018Detailed filing. Detailed filing data is available for this year.$1.46$0.00$1.46$2.51$1.05$1.46