Civic Intelligence

Atlantic City Historical Waterfront Foundation

990 • Fiscal year 2017 • EIN 51-0179178

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 15, 2018

535 Massachusetts AvenueAtlantic City, NJ 08401

(609) 226-6638

Siviq Scores

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

Liabilities / Assets

46th percentile

0.07x

Higher debt load relative to assets than 46% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

34th percentile

0.04x

Higher debt load relative to revenue than 34% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

54th percentile

4.3%

Higher net margin than 54% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

63rd percentile

$88,340

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

48th percentile

2.4%

Faster asset growth than 48% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

40th percentile

0.7%

Faster revenue growth than 40% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$650,607

Up $15,481 (+2.4%) from 2016

Net Assets

Up

$605,386

Up $48,062 (+8.6%) from 2016

Liabilities

Down

$45,221

Down $32,581 (-42%) from 2016

Revenue

Up

$1,130,012

Up $8,341 (+0.7%) from 2016

Expenses

Up

$1,081,950

Up $45,792 (+4.4%) from 2016

Net Income

Down

$48,062

Down $37,451 (-44%) from 2016

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,335,040Liabilities 2011: $61,031Net Assets 2011: $3,274,0092011Assets 2012: $3,253,434Liabilities 2012: $68,068Net Assets 2012: $3,185,3662012Assets 2013: $3,217,625Liabilities 2013: $110,900Net Assets 2013: $3,106,7252013Assets 2014: $560,820Liabilities 2014: $95,528Net Assets 2014: $465,2922014Assets 2015: $593,042Liabilities 2015: $121,231Net Assets 2015: $471,8112015Assets 2016: $635,126Liabilities 2016: $77,802Net Assets 2016: $557,3242016Assets 2017: $650,607Liabilities 2017: $45,221Net Assets 2017: $605,3862017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2017

Assets$650,607
Liabilities$45,221
Net Assets$605,386

Operations Trend

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2011: $961,710Expenses 2011: $1,023,539Net Income 2011: -$61,8292011Expenses 2012: $1,076,7812012Revenue 2013: $1,043,406Expenses 2013: $1,120,529Net Income 2013: -$77,1232013Revenue 2014: $1,138,976Expenses 2014: $1,076,190Net Income 2014: $62,7862014Revenue 2015: $997,952Expenses 2015: $990,006Net Income 2015: $7,9462015Revenue 2016: $1,121,671Expenses 2016: $1,036,158Net Income 2016: $85,5132016Revenue 2017: $1,130,012Expenses 2017: $1,081,950Net Income 2017: $48,0622017Revenue 2018: -$76,770Expenses 2018: $528,616Net Income 2018: -$605,3862018

Highlighted filing

2017

Revenue$1,130,012
Expenses$1,081,950
Net Income$48,062
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 15, 2018
Return Version
2017v2.3
Gross Receipts
$1,332,324
Mission and Program Overview

Mission

The Organization's mission is to educate, inform and create a bond for children of all ages with the oceans that surround our planet and to foster the use and development of the historic Gardner's Basin area of Atlantic City, New Jersey.

Education of public about the oceans and development of the Gardner's Basin area of Atlantic City.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$235,629$237,692▲ $2,063
Land, Buildings, and Equipment, Net$188,256$197,581▲ $9,325
Savings and Temporary Cash Investments$101,717$106,946▲ $5,229
Cash and Non-Interest-Bearing Accounts$37,085$52,308▲ $15,223
Inventories for Sale or Use$54,668$48,262▼ $6,406
Prepaid Expenses and Deferred Charges$14,688$6,360▼ $8,328
Accounts Receivable$3,083$1,458▼ $1,625
Total Assets$635,126$650,607▲ $15,481
Liabilities
Accounts Payable and Accrued Expenses$42,741$27,795▼ $14,946
Other Liabilities$9,100$7,000▼ $2,100
Mortgage Notes Payable Secured by Investment Property$9,883$6,392▼ $3,491
Deferred Revenue$16,078$4,034▼ $12,044
Total Liabilities$77,802$45,221▼ $32,581
Net Assets / Fund Balance
Unrestricted Net Assets$557,324$605,386▲ $48,062
Total Net Assets Fund Balance$557,324$605,386▲ $48,062
Total Liabilities and Net Assets / Fund Balance$635,126$650,607▲ $15,481

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$111,008$93,203$204,211
Buildings$52,663$21,214$73,877
Leasehold Improvements$33,910$486$34,396
Other Securities$237,692--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lisa SchallSecretary Executive DirectFT$88,340$88,340

Board Members and Trustees

NameTitle
Chris SeherPresident
Brenda PecanVice President
Anne HarlanDirector
Bruce WardDirector
Dennis SteelmanDirector
Martin BlumbergDirector
Michael MessinaDirector
Peter StraubDirector
Sharon SchulmanTreasurer
Tom LaMaineTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$35,900
Program Service Revenue
$989,266
Investment Income
$2,443
Other Revenue
$102,403
All Other Contributions
$1,008
Change in Net Assets
$48,062
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$736,226
Salaries, Compensation, and Employee Benefits$345,724
Total Fundraising Expense$3,848
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$181,299$28,724-$210,023
Other Salaries and Wages$166,443$33,222$2,017$201,682
Advertising$157,297--$157,297
Current Officers, Directors, Trustees, and Key Employees$73,323$14,134$883$88,340
Occupancy$76,788$1,274-$78,062
Office Expenses$69,279$1,568$682$71,529
Insurance$34,816$1,832-$36,648
Other Employee Benefits$24,089$5,049-$29,138
Payroll Taxes$21,961$4,337$266$26,564
Depreciation Depletion$25,071--$25,071
Fees for Services Accounting-$6,985-$6,985
Fees for Services Legal-$5,080-$5,080
Travel$3,019$334-$3,353
Other Expenses$7,797$2,190-$2,190
Information Technology-$1,091-$1,091
All Other Expenses-$881-$881
Total Functional Expenses$971,401$106,701$3,848$1,081,950
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$23,764
Fundraising Gross Income$12,678
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Chefs at the Shore$39,008$12,678$23,764$-11,086
Total Events$39,008$12,678$23,764$-11,086
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable deposits$7,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Management duties delegated
No

Governance Explanations

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

The Form 990 is reviewed, then signed and mailed by the Board President Chris Seher.

Form 990, Part VI, Section B, line 12C

Every year at the time of the annual meeting and after elections, members of the Board of Directors are asked to review the policy and sign an acknowledgement form.

Form 990, Part VI, Section B, line 15

Compensation for the Director of Operations and all other employees is monitored, reviewed, and determined by the compensation committee of the board of directors.

Form 990, Part VI, Section C, line 19

Governing documents and financial statements are usually not requested by the general public, but they are made available on a case by case basis. Form 990 is available upon request and can also be obtained via the website www.guidestar.org.

Filing and Contact Details

Filer

Filer Name
Atlantic City Historical Waterfront
EIN
51-0179178
Phone
6092266638
Address
535 Massachusetts Avenue, Atlantic City, NJ 08401
Doing Business As
Gardner's Basin

Signing Officer

Name
Brenda Pecan
Title
Vice President
Phone
6092266638
Signed
2018-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brenda Pecan
Formed
1976
Legal Domicile
Nj
Voting Board Members
10
Independent Board Members
10
Employees
12
Volunteers
10

Preparer

Firm
Capaldi Reynolds & Pelosi PA
Address
332 Tilton Road, Northfield, NJ 08225
Preparer
Donna H Buzby
Phone
6096414000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Payroll processing: Program service expenses 0. Management and general expenses 5373. Fundraising expenses 0. Total expenses 5373. Consultants: Program service expenses 181299. Management and general expenses 20144. Fundraising expenses 0. Total expenses 201443. Other professional fees: Program service expenses 0. Management and general expenses 3207. Fundraising expenses 0. Total expenses 3207.

Financial Statement Notes

Part III, Line 1A:

The Foundation's collection includes books, objects, and other items of historical significance to Gardner's Basin which is protected, cared for, and preserved by the Foundation. The Foundation has elected not to value and capitalize its collection, a substantial portion of which has been donated. Proceeds from collection items disposed of (if any) are reinvested in other collection items.

Part X, Line 2:

The Organization follows the Financial Accounting Standards Board (FASB) guidance that requires a tax position to be recognized based on a "more likely than not" threshold. The Organization does not believe its financial statements include any uncertain tax positions. No interest or penalties pertaining to uncertain tax positions were required to be recognized in the year ended December 31, 2017.

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IRS990/OtherExpensesGrp/Desc2Aquarium exhibits
IRS990/OtherExpensesGrp/Desc3Dues and subscriptions
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02190
IRS990/OtherExpensesGrp/ProgramServicesAmt0120748
IRS990/OtherExpensesGrp/ProgramServicesAmt19471
IRS990/OtherExpensesGrp/ProgramServicesAmt27797
IRS990/OtherExpensesGrp/TotalAmt0120748
IRS990/OtherExpensesGrp/TotalAmt19471
IRS990/OtherExpensesGrp/TotalAmt27797
IRS990/OtherExpensesGrp/TotalAmt32190
IRS990/OtherLiabilitiesGrp/BOYAmt09100
IRS990/OtherLiabilitiesGrp/EOYAmt07000
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0Vending machine income
IRS990/OtherRevenueMiscGrp/ExclusionAmt01351
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01351
IRS990/OtherRevenueTotalAmt01351
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt02017
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt033222
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0166443
IRS990/OtherSalariesAndWagesGrp/TotalAmt0201682
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0266
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04337
IRS990/PayrollTaxesGrp/ProgramServicesAmt021961
IRS990/PayrollTaxesGrp/TotalAmt026564
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt014688
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06360
IRS990/PrincipalOfficerNm0Brenda Pecan
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0713990
IRS990/ProgramServiceRevenueGrp/BusinessCd1713990
IRS990/ProgramServiceRevenueGrp/BusinessCd2531120
IRS990/ProgramServiceRevenueGrp/BusinessCd3611710
IRS990/ProgramServiceRevenueGrp/BusinessCd4531120
IRS990/ProgramServiceRevenueGrp/Desc0Admissions
IRS990/ProgramServiceRevenueGrp/Desc1Docking
IRS990/ProgramServiceRevenueGrp/Desc2Tenant rental income
IRS990/ProgramServiceRevenueGrp/Desc3Education programs
IRS990/ProgramServiceRevenueGrp/Desc4Facility rentals
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0650850
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1118202
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2112611
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt358495
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt449108
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0650850
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1118202
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2112611
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt358495
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt449108
IRS990/ProgSrvcAccomActy2Grp/Desc0Foster the use and development of the historic Gardner's Basin area of Atlantic City and educate about the local marine history.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0225176
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0279921
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt055533
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02856
IRS990/PYOtherExpensesAmt0701064
IRS990/PYOtherRevenueAmt0114712
IRS990/PYProgramServiceRevenueAmt0948570
IRS990/PYRevenuesLessExpensesAmt085513
IRS990/PYSalariesCompEmpBnftPaidAmt0335094
IRS990/PYTotalExpensesAmt01036158
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01121671
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt048062
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0821483
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0101717
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0106946
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt035900
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt055533
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt040564
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0193024
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt085178
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0410199
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt02443
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt02856
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt02296
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt02740
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt03097
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt013432
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01158952
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01121132
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01026641
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01018764
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01030434
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt05355923
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt02443
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt02856
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt02296
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt02740
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt03097
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt013432
IRS990ScheduleA/InvestmentIncomeCYPct00.00230
IRS990ScheduleA/InvestmentIncomePYPct00.00270
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt014029
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt033472
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt014621
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt016376
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt014605
IRS990ScheduleA/OtherIncome509Grp/TotalAmt093103
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98190
IRS990ScheduleA/PublicSupportPY509Pct00.98140
IRS990ScheduleA/PublicSupportTotal509Amt05766122
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01194852
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01176665
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01067205
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01211788
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01115612
IRS990ScheduleA/Total509Grp/TotalAmt05766122
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01211324
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01212993
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01084122
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01230904
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01133314
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05872657
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt052663
IRS990ScheduleD/BuildingsGrp/DepreciationAmt021214
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt073877
IRS990ScheduleD/CollectionUsedPreservationInd0X
IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/EquipmentGrp/BookValueAmt0111008
IRS990ScheduleD/EquipmentGrp/DepreciationAmt093203
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0204211
IRS990ScheduleD/FootnoteTextInd0X

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