Civic Intelligence

Centerra Public Improvement Collection Corporation

990 • Fiscal year 2019 • EIN 20-1342513

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 20, 2020

Organization ProfileN/A
2725 Rocky Mountain AvenueLoveland, CO 80538

(970) 962-9990

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.79x

Higher debt load relative to assets than 92% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

48th percentile

0.08x

Higher debt load relative to revenue than 48% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Net Margin

30th percentile

-1.0%

Higher net margin than 30% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

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

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Asset Growth

7th percentile

-17%

Faster asset growth than 7% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

34th percentile

-1.8%

Faster revenue growth than 34% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$320,592

Down $67,264 (-17%) from 2018

Net Assets

Down

$66,089

Down $29,196 (-31%) from 2018

Liabilities

Down

$254,503

Down $38,068 (-13%) from 2018

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin30th percentile

Revenue

Down

$3,037,314

Down $55,371 (-1.8%) from 2018

Expenses

Down

$3,066,795

Down $1,005,318 (-25%) from 2018

Net Income

Up

-$29,481

Up $949,947 (+97%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $83,433Liabilities 2010: $21,895Net Assets 2010: $61,5382010Assets 2011: $184,675Liabilities 2011: $3,337Net Assets 2011: $181,3382011Assets 2012: $174,103Liabilities 2012: $22,596Net Assets 2012: $151,5072012Assets 2013: $327,254Liabilities 2013: $195,132Net Assets 2013: $132,1222013Assets 2014: $76,733Liabilities 2014: $25,405Net Assets 2014: $51,3282014Assets 2015: $72,072Liabilities 2015: $29,246Net Assets 2015: $42,8262015Assets 2016: $316,240Liabilities 2016: $2,413Net Assets 2016: $313,8272016Assets 2017: $1,080,486Liabilities 2017: $5,773Net Assets 2017: $1,074,7132017Assets 2018: $387,856Liabilities 2018: $292,571Net Assets 2018: $95,2852018Assets 2019: $320,592Liabilities 2019: $254,503Net Assets 2019: $66,0892019Assets 2020: $1,336,425Liabilities 2020: $222,599Net Assets 2020: $1,113,8262020Assets 2021: $379,662Liabilities 2021: $303,000Net Assets 2021: $76,6622021Assets 2022: $405,873Liabilities 2022: $322,902Net Assets 2022: $82,9712022Assets 2023: $786,984Liabilities 2023: $264,550Net Assets 2023: $522,4342023Assets 2024: $2,131,176Liabilities 2024: $301,669Net Assets 2024: $1,829,5072024

Highlighted filing

2019

Assets$320,592
Liabilities$254,503
Net Assets$66,089
Open 2019 Filing

Operations Trend

Revenue Growth34th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,439,5142010Expenses 2011: $2,412,3792011Revenue 2012: $2,688,489Expenses 2012: $2,718,320Net Income 2012: -$29,8312012Revenue 2013: $2,767,386Expenses 2013: $2,786,771Net Income 2013: -$19,3852013Revenue 2014: $3,023,350Expenses 2014: $3,104,144Net Income 2014: -$80,7942014Revenue 2015: $1,365,000Expenses 2015: $1,373,502Net Income 2015: -$8,5022015Revenue 2016: $3,000,000Expenses 2016: $2,728,999Net Income 2016: $271,0012016Revenue 2017: $2,741,171Expenses 2017: $1,981,057Net Income 2017: $760,1142017Revenue 2018: $3,092,685Expenses 2018: $4,072,113Net Income 2018: -$979,4282018Revenue 2019: $3,037,314Expenses 2019: $3,066,795Net Income 2019: -$29,4812019Revenue 2020: $2,357,656Expenses 2020: $1,309,919Net Income 2020: $1,047,7372020Revenue 2021: $2,826,725Expenses 2021: $3,863,889Net Income 2021: -$1,037,1642021Revenue 2022: $2,953,182Expenses 2022: $2,946,873Net Income 2022: $6,3092022Revenue 2023: $3,068,733Expenses 2023: $2,629,270Net Income 2023: $439,4632023Revenue 2024: $3,183,184Expenses 2024: $1,876,111Net Income 2024: $1,307,0732024

Highlighted filing

2019

Revenue$3,037,314
Expenses$3,066,795
Net Income-$29,481
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 20, 2020
Return Version
2019v5.0
Gross Receipts
$3,037,314
Mission and Program Overview

Mission

The centerra public improvement collection corporation ("pic") was established as a nonprofit corporation under the laws of the state of colorado for the purpose of collecting, holding and disbursing the public improvement fee income as mandated under the terms of the master financing agreement ("mfa") dated january 20, 2004. The mfa was authorized by the city of loveland, colorado and the loveland urban renewal authority to promote the city's public purposes. These are the primary activities of the pic. The pic serves the participating activities of the mfa by disbursing funds collected by the collection agent, the city of loveland.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$387,856$320,592▼ $67,264
Rtn Earn Endowment Incm Other Fnds$95,285$66,089▼ $29,196
Total Assets$387,856$320,592▼ $67,264
Liabilities
Accounts Payable and Accrued Expenses$292,571$254,503▼ $38,068
Total Liabilities$292,571$254,503▼ $38,068
Net Assets / Fund Balance
Total Net Assets Fund Balance$95,285$66,089▼ $29,196
Total Liabilities and Net Assets / Fund Balance$387,856$320,592▼ $67,264
Compensation and Service Providers
Top Officer Pay58th percentile

Board Members and Trustees

NameTitle
Joshua KanePresident
David CrowderAsst. Secret
Steve AdamsAsst. Vice P
Wendi CudmoreSecretary-tr
Kim PerryVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,037,314
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-29,481

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,037,314
Total Revenue per Audited Statements
$3,037,314
Total Revenue per Form 990
$3,037,314
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,066,795
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 Other$3,031,314$4,905-$3,036,219
Fees for Services Accounting-$14,521-$14,521
Fees for Services Management-$14,326-$14,326
Fees for Services Legal-$1,729-$1,729
Total Functional Expenses$3,031,314$35,481$0$3,066,795

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,066,795
Total Expenses per Audited Statements$3,066,795
Total Expenses per Form 990$3,066,795
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

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

“The board president reviews and approves the form 990 prior to filing. A copy of the form 990 is provided to all board members.”

Form 990, Page 6, Part VI, Line 19

“The organization provides its governing documents, conflict of interest policy and financial statements to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Centerra Public Improvement
EIN
20-1342513
Phone
9709629990
Address
2725 ROCKY MOUNTAIN AVENUE, LOVELAND, CO 80538

Signing Officer

Name
Joshua Kane
Title
President
Phone
9709629990
Signed
2020-07-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joshua Kane
Formed
2004
Legal Domicile
Co
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Logan Thomas & Johnson LLC
Address
413 WILCOX ST SUITE 204, CASTLE ROCK, CO 80104-2477
Preparer
Edward B Miller
Phone
3036631400
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The centerra public improvement collection corporation ("pic") was established as a nonprofit corporation under the laws of the state of colorado for the purpose of collecting, holding and disbursing the public improvement fee income as mandated under the terms of the master financing agreement ("mfa") dated january 20, 2004. The mfa was authorized by the city of loveland, colorado and the loveland urban renewal authority to promote the city's public purposes. These are the primary activities of the pic. The pic serves the participating activities of the mfa by disbursing funds collected by the collection agent, the city of loveland.”

Form 990, Part IX, Line 11G

“Insurance 0 4,481 0 office and other 0 424 0 constructor reimbursements 3,031,314 0 0 total 3,031,314 4,905 0”

Raw XML Appendix264 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CENTERRA PUBLIC IMPROVEMENT COLLECTION CORPORATION ("PIC") WAS ESTABLISHED AS A NONPROFIT CORPORATION UNDER THE LAWS OF THE STATE OF COLORADO FOR THE PURPOSE OF COLLECTING, HOLDING AND DISBURSING THE PUBLIC IMPROVEMENT FEE INCOME AS MANDATED UNDER THE TERMS OF THE MASTER FINANCING AGREEMENT ("MFA") DATED JANUARY 20, 2004. THE MFA WAS AUTHORIZED BY THE CITY OF LOVELAND, COLORADO AND THE LOVELAND URBAN RENEWAL AUTHORITY TO PROMOTE THE CITY'S PUBLIC PURPOSES. THESE ARE THE PRIMARY ACTIVITIES OF THE PIC. THE PIC SERVES THE PARTICIPATING ACTIVITIES OF THE MFA BY DISBURSING FUNDS COLLECTED BY THE COLLECTION AGENT, THE CITY OF LOVELAND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD PRESIDENT REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING. A COPY OF THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INSURANCE 0 4,481 0 OFFICE AND OTHER 0 424 0 CONSTRUCTOR REIMBURSEMENTS 3,031,314 0 0 TOTAL 3,031,314 4,905 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSHUA KANE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09709629990
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CENTERRA PUBLIC IMPROVEMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COLLECTION CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0CENT
ReturnHeader/Filer/EIN0201342513
ReturnHeader/Filer/PhoneNum09709629990
ReturnHeader/Filer/USAddress/AddressLine1Txt02725 ROCKY MOUNTAIN AVENUE
ReturnHeader/Filer/USAddress/CityNm0LOVELAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd080538
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0867B2777AF6B969852CE2C63CCF679FACAA2B5C2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0867B2777AF6B969852CE2C63CCF679FACAA2B5C2
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.75.106.57
ReturnHeader/FilingSecurityInformation/IPDt02020-08-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:25:18
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201943886
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LOGAN THOMAS & JOHNSON LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0413 WILCOX ST SUITE 204
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CASTLE ROCK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0801042477
ReturnHeader/PreparerPersonGrp/PhoneNum03036631400
ReturnHeader/PreparerPersonGrp/PreparationDt02020-08-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EDWARD B MILLER
ReturnHeader/ReturnTs02020-08-11T10:25:18-05:00
ReturnHeader/ReturnTypeCd0990
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
$320,592
Liabilities
$254,503
Net assets
$66,089
Revenue
$3,037,314
Expenses
$3,066,795
Net income
-$29,481
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.13$0.30$1.83$3.18$1.88$1.31
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.79$0.26$0.52$3.07$2.63$0.44
2022Detailed filing. Detailed filing data is available for this year.$0.41$0.32$0.08$2.95$2.95$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.38$0.30$0.08$2.83$3.86$1.04
2020Detailed filing. Detailed filing data is available for this year.$1.34$0.22$1.11$2.36$1.31$1.05
2019Detailed filing. Detailed filing data is available for this year.$0.32$0.25$0.07$3.04$3.07$0.03
2018Summary only. Only limited summary data is available for this year.$0.39$0.29$0.10$3.09$4.07$0.98
2017Summary only. Only limited summary data is available for this year.$1.08$0.01$1.07$2.74$1.98$0.76
2016Summary only. Only limited summary data is available for this year.$0.32$0.00$0.31$3.00$2.73$0.27
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.07$0.03$0.04$1.37$1.37$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.08$0.03$0.05$3.02$3.10$0.08
2013Summary only. Only limited summary data is available for this year.$0.33$0.20$0.13$2.77$2.79$0.02
2012Summary only. Only limited summary data is available for this year.$0.17$0.02$0.15$2.69$2.72$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.00$0.18$2.41
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.02$0.06$2.44