Civic Intelligence

Neuse River Development Authority Inc

990 • Fiscal year 2015 • EIN 58-1381646

Oct 01, 2014 to Sep 30, 2015 • Filed on Feb 09, 2016

Organization ProfileWWW.NRDA.ORG
PO Box 1111New Bern, NC 28560

(252) 638-6724

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.59x

Higher debt load relative to assets than 82% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

94th percentile

4.39x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

45th percentile

1.2%

Higher net margin than 45% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2015

Asset Growth

21st percentile

-5.2%

Faster asset growth than 21% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

69th percentile

13%

Faster revenue growth than 69% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$3,787,184

Down $209,484 (-5.2%) from 2014

Net Assets

Up

$1,539,709

Up $6,301 (+0.4%) from 2014

Liabilities

Down

$2,247,475

Down $215,785 (-8.8%) from 2014

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin45th percentile

Revenue

Up

$511,932

Up $60,068 (+13%) from 2014

Expenses

Up

$505,630

Up $59,531 (+13%) from 2014

Net Income

Up

$6,302

Up $537 (+9.3%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $4,397,365Liabilities 2011: $2,916,304Net Assets 2011: $1,481,0612011Assets 2012: $4,266,031Liabilities 2012: $2,759,540Net Assets 2012: $1,506,4912012Assets 2013: $4,091,799Liabilities 2013: $2,564,155Net Assets 2013: $1,527,6442013Assets 2014: $3,996,668Liabilities 2014: $2,463,260Net Assets 2014: $1,533,4082014Assets 2015: $3,787,184Liabilities 2015: $2,247,475Net Assets 2015: $1,539,7092015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2015

Assets$3,787,184
Liabilities$2,247,475
Net Assets$1,539,709
Open 2015 Filing

Operations Trend

Revenue Growth69th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $466,537Expenses 2011: $421,727Net Income 2011: $44,8102011Revenue 2012: $576,894Expenses 2012: $551,463Net Income 2012: $25,4312012Revenue 2013: $480,278Expenses 2013: $459,127Net Income 2013: $21,1512013Revenue 2014: $451,864Expenses 2014: $446,099Net Income 2014: $5,7652014Revenue 2015: $511,932Expenses 2015: $505,630Net Income 2015: $6,3022015Revenue 2016: $250,270Expenses 2016: $291,507Net Income 2016: -$41,2372016

Highlighted filing

2015

Revenue$511,932
Expenses$505,630
Net Income$6,302
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Feb 9, 2016
Return Version
2014v6.0
Gross Receipts
$511,932
Mission and Program Overview

Mission

Intermediary relending program allowing small businesses to expand in the region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,173,986$1,842,179▼ $331,807
Other Notes and Loans Receivable, Net$1,532,159$1,741,865▲ $209,706
Accounts Receivable$9,867$10,241▲ $374
Land, Buildings, and Equipment, Net$89,100$537▼ $88,563
Total Assets$3,996,668$3,787,184▼ $209,484
Other Assets Total$191,556$192,362▲ $806
Liabilities
Other Liabilities$2,370,927$2,212,328▼ $158,599
Accounts Payable and Accrued Expenses$92,333$35,147▼ $57,186
Total Liabilities$2,463,260$2,247,475▼ $215,785
Net Assets / Fund Balance
Temporarily Rstr Net Assets$910,000$910,000→ $0
Unrestricted Net Assets$623,408$629,709▲ $6,301
Total Net Assets Fund Balance$1,533,408$1,539,709▲ $6,301
Total Liabilities and Net Assets / Fund Balance$3,996,668$3,787,184▼ $209,484

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$537$32,935-
Other Assets Org$10,479--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Guy P Williams JrPresidentFT$123,651$123,651

Board Members and Trustees

NameTitle
Alice TingleVice-chair
Andy ChusedDirector
Cleve CoxDirector
Denny GarnerDirector
Joanna HelmsDirector
Randolph MillsDirector
Renee RhodesDirector
Rick WatsonDirector
Mary Ann DunnSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$371,352
Investment Income
$140,580
Other Revenue
$0
Change in Net Assets
$6,302

Audited Revenue Reconciliation

Revenue per Audited Statements
$511,932
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$511,932
Total Revenue per Form 990
$511,932
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$272,937
Other Expenses$232,693
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$242,208--$242,208
Other Employee Benefits$23,995--$23,995
Interest$23,227--$23,227
Occupancy-$21,527-$21,527
Fees for Services Accounting-$13,688-$13,688
Insurance$8,121--$8,121
Pension Plan Contributions$6,734--$6,734
All Other Expenses$2,503$1,862-$4,365
Fees for Services Legal$4,037--$4,037
Other Expenses$85,136$3,390-$3,390
Office Expenses-$2,399-$2,399
Travel$1,482--$1,482
Depreciation Depletion$651--$651
Total Functional Expenses$398,094$107,536$0$505,630

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$505,630
Total Expenses per Audited Statements$505,630
Total Expenses per Form 990$505,630
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable - Irp$2,212,328
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 11

“The form 990 was reviewed by the executive director and chief financial officer. Upon their approval, it was presented to the board for their review and approval.”

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

“The board annually reviews the policy as a matter of policy. The board members, as part of their taking a board position, know to disclose interest that may give rise to conflicts. Also, employees are asked annually and reminded of this policy so that they too disclose interests that may give rise to conflicts.”

Form 990, Part VI, Section B, Line 15

“The board of directors reviews the compensation for the president annually. This is done on a regional basis for comparable positions and minutes are documented as to decisions. It is independent of any employee involvement.”

Form 990, Part VI, Section C, Line 19

“Information is available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Neuse River Development Authority Inc
EIN
58-1381646
Phone
2526386724
Address
PO BOX 1111, NEW BERN, NC 28560

Signing Officer

Name
Guy P Williams
Title
President
Phone
2526386724
Signed
2016-02-09

Organization Details

Principal Officer
Guy P Williams
Formed
1979
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
3
Volunteers
0

Preparer

Firm
Greg W Isley CPA Pa
Address
8601 SIX FORKS ROAD SUITE 400, RALEIGH, NC 27615
Preparer
Greg W Isley CPA
Phone
2526700508
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“ROUNDING -1.”

Raw XML AppendixShowing 400 of 419 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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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0145551
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0169442
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0192498
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0530823
IRS990ScheduleA/InvestmentIncomeCYPct00.21340
IRS990ScheduleA/InvestmentIncomePYPct00.30610
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.78660
IRS990ScheduleA/PublicSupportPY509Pct00.69390
IRS990ScheduleA/PublicSupportTotal509Amt01956982
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0503953
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0436511
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0334727
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0407752
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0274039
IRS990ScheduleA/Total509Grp/TotalAmt01956982
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0511932
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0451864
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0480278
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0577194
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0466537
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02487805
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0537
IRS990ScheduleD/EquipmentGrp/DepreciationAmt032935
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt033472
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0505630
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0181883
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt110479
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CASH RESTRICTED FOR LOAN LOSS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER CURRENT ASSETS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02212328
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE - IRP
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0511932
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0537
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0192362
IRS990ScheduleD/TotalExpensesPerForm990Amt0505630
IRS990ScheduleD/TotalLiabilityAmt02212328
IRS990ScheduleD/TotalRevenuePerForm990Amt0511932
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0511932
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WAS REVIEWED BY THE EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER. UPON THEIR APPROVAL, IT WAS PRESENTED TO THE BOARD FOR THEIR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD ANNUALLY REVIEWS THE POLICY AS A MATTER OF POLICY. THE BOARD MEMBERS, AS PART OF THEIR TAKING A BOARD POSITION, KNOW TO DISCLOSE INTEREST THAT MAY GIVE RISE TO CONFLICTS. ALSO, EMPLOYEES ARE ASKED ANNUALLY AND REMINDED OF THIS POLICY SO THAT THEY TOO DISCLOSE INTERESTS THAT MAY GIVE RISE TO CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS REVIEWS THE COMPENSATION FOR THE PRESIDENT ANNUALLY. THIS IS DONE ON A REGIONAL BASIS FOR COMPARABLE POSITIONS AND MINUTES ARE DOCUMENTED AS TO DECISIONS. IT IS INDEPENDENT OF ANY EMPLOYEE INVOLVEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INFORMATION IS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ROUNDING -1.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/EOYAmt03787184
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0107536
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0398094
IRS990/TotalFunctionalExpensesGrp/TotalAmt0505630
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02463260
IRS990/TotalLiabilitiesEOYAmt02247475
IRS990/TotalLiabilitiesGrp/BOYAmt02463260
IRS990/TotalLiabilitiesGrp/EOYAmt02247475
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01533408
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01539709
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0398094
IRS990/TotalProgramServiceRevenueAmt0371352
IRS990/TotalReportableCompFromOrgAmt0123651
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0511932
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0511932
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03996668
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03787184
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt01482
IRS990/TravelGrp/TotalAmt01482
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0623408
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0629709
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1111
IRS990/USAddress/CityNm0NEW BERN
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028560
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.NRDA.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/PersonNm0GUY P WILLIAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02526386724
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-02-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NEUSE RIVER DEVELOPMENT AUTHORITY INC
ReturnHeader/Filer/BusinessNameControlTxt0NEUS
ReturnHeader/Filer/EIN0581381646
ReturnHeader/Filer/PhoneNum02526386724

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,787,184
Liabilities
$2,247,475
Net assets
$1,539,709
Revenue
$511,932
Expenses
$505,630
Net income
$6,302
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.25$0.29$0.04
2015Detailed filing. Detailed filing data is available for this year.$3.79$2.25$1.54$0.51$0.51$0.01
2014Detailed filing. Detailed filing data is available for this year.$4.00$2.46$1.53$0.45$0.45$0.01
2013Summary only. Only limited summary data is available for this year.$4.09$2.56$1.53$0.48$0.46$0.02
2012Summary only. Only limited summary data is available for this year.$4.27$2.76$1.51$0.58$0.55$0.03
2011Summary only. Only limited summary data is available for this year.$4.40$2.92$1.48$0.47$0.42$0.04