Newark Downtown District Management Corporation

Nonprofit profile at a glance

EIN
223646316
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Newark, NJ, USA
Phone
9736222002
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$8,531,221
Expenses
$6,908,194
Assets
$11,231,136
Liabilities
$7,637,664

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • ANTHONY MCMILLAN (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • ANTHONY MCMILLAN (CHIEF EXECUTIVE OFFICER): $356,489 total reported compensation
  • Susan E McKay (DIRECTOR OF OPERATIONS): $135,518 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The corporation's purpose is to revitalize downtown Newark by improving the economic viability of the central business district and enhance the quality of life for residents, workers, students and visitors.

What it reported doing in 2024

Ambassadors - the ambassadors are the heart and soul of our organization. Highly recognizable in their bright yellow and black uniforms they are split up into teams which are fundamental to the upkeep and maintenance of the downtown. During our peak season, there are up to 60 ambassadors employed by ndd, more than 95% are newark residents. -the clean team ambassadors clean every block the special improvement district boundaries seven days a week. -the quality of life ambassadors work with members of the newark police department and are stationed at our new community resource center at 60 park place. They canvas our district on foot, bicycles and segways, to identify issues that can potentially negatively affect out beautiful downtown. Qol ambassadors also proactively assist individuals with welcoming, smiling faces, and provide information to visitors. -special project ambassadors tackle projects throughout the downtown that requires special skills such as graffiti removal, painting, and power washing sidewalks and buildings. -the horticulture ambassadors, known as the "green team, a welcoming environment in downtown newark through beautification. They install and maintain the thousands of seasonal plants and flowers throughout the district and maintain washintgton park and doane triangle. They also provide contracted horticulture services to private properties. This ensures that our entire downtown has a uniform look. Horticulture services to private properties. This ensures that our entire downtown has a uniform look.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Assets have declined or grown slowly and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 58
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.3%; rating input score 62
  • Program expense ratio: 78.4%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 1.63; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.68; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 7.1%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 7.1% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 9.2% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: -0.6% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 62.3% of revenue deployed · 78.4% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $5.4M in reported program spending
  • Leadership: top reported pay $356K · 19 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.