Civic Intelligence

Neuse River Development Authority Inc

990 • Fiscal year 2016 • EIN 58-1381646

Oct 01, 2015 to May 31, 2016 • Filed on Sep 27, 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

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2016

Liabilities / Revenue

54th percentile

0.00x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

18th percentile

-16%

Higher net margin than 18% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

9th percentile

-51%

Faster revenue growth than 9% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $3,787,184 (-100%) from 2015

Net Assets

Down

$0

Down $1,539,709 (-100%) from 2015

Liabilities

Down

$0

Down $2,247,475 (-100%) from 2015

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin18th percentile

Revenue

Down

$250,270

Down $261,662 (-51%) from 2015

Expenses

Down

$291,507

Down $214,123 (-42%) from 2015

Net Income

Down

-$41,237

Down $47,539 (-754%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2016

Assets$0
Liabilities$0
Net Assets$0
Open 2016 Filing

Operations Trend

Revenue Growth9th 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

2016

Revenue$250,270
Expenses$291,507
Net Income-$41,237
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to May 31, 2016
Signed
Sep 27, 2016
Return Version
2015v2.1
Gross Receipts
$250,270
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$1,842,179$0▼ $1,842,179
Other Notes and Loans Receivable, Net$1,741,865$0▼ $1,741,865
Accounts Receivable$10,241$0▼ $10,241
Land, Buildings, and Equipment, Net$537$0▼ $537
Savings and Temporary Cash Investments-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,787,184$0▼ $3,787,184
Other Assets Total$192,362$0▼ $192,362
Liabilities
Other Liabilities$2,212,328$0▼ $2,212,328
Accounts Payable and Accrued Expenses$35,147$0▼ $35,147
Total Liabilities$2,247,475$0▼ $2,247,475
Net Assets / Fund Balance
Temporarily Rstr Net Assets$910,000$0▼ $910,000
Unrestricted Net Assets$629,709$0▼ $629,709
Total Net Assets Fund Balance$1,539,709$0▼ $1,539,709
Total Liabilities and Net Assets / Fund Balance$3,787,184$0▼ $3,787,184
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Guy P Williams JrPresidentFT$123,652$123,652

Board Members and Trustees

NameTitle
Alice TingleVice-chair
Andy ChusedDirector
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
$217,081
Investment Income
$33,189
Other Revenue
$0
Change in Net Assets
$-41,237
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$229,420
Other Expenses$62,087
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$211,882--$211,882
Fees for Services Accounting-$15,545-$15,545
Occupancy-$12,558-$12,558
Other Employee Benefits$11,634--$11,634
Pension Plan Contributions$5,904--$5,904
Interest$3,752--$3,752
Insurance$3,496--$3,496
Travel$2,027--$2,027
Other Expenses-$1,999-$1,999
All Other Expenses$1,750--$1,750
Office Expenses-$1,597-$1,597
Depreciation Depletion$387--$387
Fees for Services Legal$255--$255
Total Functional Expenses$241,087$50,420$0$291,507
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
2016-09-27

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:

“Transfer of Net Assets to Merged 501(c)3 -1,498,472.”

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0169442
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0343940
IRS990ScheduleA/InvestmentIncomeCYPct00.15140
IRS990ScheduleA/InvestmentIncomePYPct00.21340
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.84860
IRS990ScheduleA/PublicSupportPY509Pct00.78660
IRS990ScheduleA/PublicSupportTotal509Amt01927598
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0244655
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0503953
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0436511
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0334727
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0407752
IRS990ScheduleA/Total509Grp/TotalAmt01927598
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0250270
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0511932
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0451864
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0480278
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0577194
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02271538
IRS990/ScheduleBRequiredInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0All Net Assets
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0Business Expansion Funding Corporation
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02016-05-26
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0561434029
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt01498472
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501c3
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0ASSETS AND LIABILATIES WERE TRANSFERED AT NBV WHICH IS EQUAL TO FMV.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt05970 Fairview Road suite 218
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0Charlotte
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0NC
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd028210
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0All Assets were transfered at NBV in merger with another 501(c)3.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 3:
IRS990/ScheduleORequiredInd01
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/ExplanationTxt4Transfer of Net Assets to Merged 501(c)3 -1,498,472.
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:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0910000
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt03787184
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt03787184
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt050420
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0241087
IRS990/TotalFunctionalExpensesGrp/TotalAmt0291507
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02247475
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt02247475
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01539709
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0241087
IRS990/TotalProgramServiceRevenueAmt0217081
IRS990/TotalReportableCompFromOrgAmt0123652
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0250270
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0250270
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03787184
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt02027
IRS990/TravelGrp/TotalAmt02027
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0629709
IRS990/UnrestrictedNetAssetsGrp/EOYAmt00
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/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0GUY P WILLIAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT

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
$0
Liabilities
$0
Net assets
$0
Revenue
$250,270
Expenses
$291,507
Net income
-$41,237
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • <$500k nonprofits