Civic Intelligence

Rowan Development Inc

990 • Fiscal year 2020 • EIN 23-2787674

Jul 01, 2019 to Jun 30, 2020 • Filed on Mar 29, 2021

Organization ProfileN/A
2502 West Cheltenham AvenuePhiladelphia, PA 19150

(215) 927-5010

Siviq Scores

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

Liabilities / Assets

100th percentile

80.08x

Higher debt load relative to assets than 100% of similar nonprofits.

2020 filings • 501(c)2 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

85th percentile

3.27x

Higher debt load relative to revenue than 85% of similar nonprofits.

2020 filings • 501(c)2 • <$500k nonprofits • Source year 2020

Net Margin

20th percentile

-43%

Higher net margin than 20% of similar nonprofits.

2020 filings • 501(c)2 • <$500k nonprofits • Source year 2020

Top Officer Pay

98th percentile

$362,437

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 104.1% of source-year revenue.

2020 filings • 501(c)2 • <$500k nonprofits • Source year 2020

Asset Growth

5th percentile

-97%

Faster asset growth than 5% of similar nonprofits.

2020 filings • 501(c)2 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

19th percentile

-48%

Faster revenue growth than 19% of similar nonprofits.

2020 filings • 501(c)2 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$14,222

Down $532,427 (-97%) from 2019

Net Assets

Down

-$1,124,736

Down $149,083 (-15%) from 2019

Liabilities

Down

$1,138,958

Down $383,344 (-25%) from 2019

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin20th percentile

Revenue

Down

$348,000

Down $317,202 (-48%) from 2019

Expenses

Up

$497,083

Up $293,072 (+144%) from 2019

Net Income

Down

-$149,083

Down $610,274 (-132%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$10M$5.0M$0-$5.0MAssets 2010: $5,548,284Liabilities 2010: $595,196Net Assets 2010: $4,953,0882010Assets 2011: $5,349,376Liabilities 2011: $534,415Net Assets 2011: $4,814,9612011Assets 2012: $8,712,241Liabilities 2012: $4,158,764Net Assets 2012: $4,553,4772012Assets 2013: $8,723,355Liabilities 2013: $3,952,878Net Assets 2013: $4,770,4772013Assets 2014: $9,007,240Liabilities 2014: $4,122,488Net Assets 2014: $4,884,7522014Assets 2015: $8,625,221Liabilities 2015: $3,798,130Net Assets 2015: $4,827,0912015Assets 2016: $8,572,316Liabilities 2016: $3,980,061Net Assets 2016: $4,592,2552016Assets 2017: $687,876Liabilities 2017: $3,777,574Net Assets 2017: -$3,089,6982017Assets 2018: $634,547Liabilities 2018: $2,071,391Net Assets 2018: -$1,436,8442018Assets 2019: $546,649Liabilities 2019: $1,522,302Net Assets 2019: -$975,6532019Assets 2020: $14,222Liabilities 2020: $1,138,958Net Assets 2020: -$1,124,7362020Assets 2021: $6,801Liabilities 2021: $508,466Net Assets 2021: -$501,6652021Assets 2022: $4,372Liabilities 2022: $508,467Net Assets 2022: -$504,0952022Assets 2023: $3,964Liabilities 2023: $508,466Net Assets 2023: -$504,5022023Assets 2024: $3,964Liabilities 2024: $508,466Net Assets 2024: -$504,5022024

Highlighted filing

2020

Assets$14,222
Liabilities$1,138,958
Net Assets-$1,124,736
Open 2020 Filing

Operations Trend

Revenue Growth19th percentile

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

$5.0M$0-$5.0M-$10MExpenses 2010: $438,4542010Expenses 2011: $1,025,8932011Expenses 2012: $992,7412012Revenue 2013: $911,929Expenses 2013: $694,929Net Income 2013: $217,0002013Revenue 2014: $907,493Expenses 2014: $792,229Net Income 2014: $115,2642014Revenue 2015: $719,992Expenses 2015: $812,788Net Income 2015: -$92,7962015Revenue 2016: $399,395Expenses 2016: $634,231Net Income 2016: -$234,8362016Revenue 2017: -$3,412,257Expenses 2017: $4,269,696Net Income 2017: -$7,681,9532017Revenue 2018: $1,745,808Expenses 2018: $92,954Net Income 2018: $1,652,8542018Revenue 2019: $665,202Expenses 2019: $204,011Net Income 2019: $461,1912019Revenue 2020: $348,000Expenses 2020: $497,083Net Income 2020: -$149,0832020Revenue 2021: $630,492Expenses 2021: $7,421Net Income 2021: $623,0712021Revenue 2022: $0Expenses 2022: $2,430Net Income 2022: -$2,4302022Revenue 2023: $0Expenses 2023: $407Net Income 2023: -$4072023Revenue 2024: $0Expenses 2024: $0Net Income 2024: $02024

Highlighted filing

2020

Revenue$348,000
Expenses$497,083
Net Income-$149,083
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Mar 29, 2021
Return Version
2019v5.1
Gross Receipts
$348,000
Mission and Program Overview

Mission

Hold title to property and collect income for the benefit of ogontz avenue revitalization corporation, a 501(c)(3)tax exempt organization.

Hold title to property and collect income for the benefit of ogontz avenue revitalization corporation, a 501 (c)(3) tax exempt organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$540,743$0▼ $540,743
Cash and Non-Interest-Bearing Accounts$906$12,722▲ $11,816
Prepaid Expenses and Deferred Charges$1,500$1,500→ $0
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$546,649$14,222▼ $532,427
Other Assets Total$3,500$0▼ $3,500
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,190,000$874,000▼ $316,000
Accounts Payable and Accrued Expenses$332,302$264,958▼ $67,344
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,522,302$1,138,958▼ $383,344
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-975,653$-1,124,736▼ $149,083
Total Net Assets Fund Balance$-975,653$-1,124,736▼ $149,083
Total Liabilities and Net Assets / Fund Balance$546,649$14,222▼ $532,427
Compensation and Service Providers
Top Officer Pay98th percentile

Board Members and Trustees

NameTitle
Dr Mujahid NyahumaBoard Chair
Kimberly LLoydPresident
Phyllis BensonBoard Member
Vall P AdamsBoard Member
Darlene CallandsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$348,000
Change in Net Assets
$-149,083

Audited Revenue Reconciliation

Revenue per Audited Statements
$348,000
Total Revenue per Audited Statements
$348,000
Total Revenue per Form 990
$348,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$497,083
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 Management-$418,754-$418,754
Other Expenses$74,122$0-$74,122
Occupancy$3,000--$3,000
Office Expenses$300--$300
Insurance$126--$126
Interest$3--$3
Total Functional Expenses$78,329$418,754$0$497,083

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$497,083
Total Expenses per Audited Statements$497,083
Total Expenses per Form 990$497,083
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Rowan Development Inc
EIN
23-2787674
In Care Of
% MANAGEMENT
Phone
2159275010
Address
2502 WEST CHELTENHAM AVENUE, PHILADELPHIA, PA 19150

Signing Officer

Name
Kimberly Lloyd
Title
President
Phone
2157540063
Signed
2021-03-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kimberly Lloyd
Formed
1994
Legal Domicile
Pa
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Withumsmithbrown Pc
Address
1835 MARKET STREET SUITE 1710, PHILADELPHIA, PA 19103-2945
Preparer
Eric M Strauss
Phone
2155462140
Supplemental Narrative

Additional Explanations

Conflict of Interest

“Board members on annual basis are required to update their conflict of interest statements and submit to ceo of oarc (parent company) for review and filing. This is done at the last board meeting in the fiscal year.”

Public Availibility

“All documents are maintained in pdf.format and made available upon request in the finance department of oarc (parent company).”

Form 990 Part XII, 2C audit approval

“On an annual basis the board meets with the auditors to go over and approve the annual consolidated audit report.”

Financial Statement Notes

Schedule D Part XIII, FIN 48

“Rowan Development Inc adopted the accounting pronouncement related to uncertain tax positions effective July 1, 2009. Management has determined that there were no uncertain tax positions at Rowan Development Inc as of the date of the adoption or at June 30, 2020. In addition, there was no income tax related penalties and interest reported by the Organization for the period in question.”

Raw XML AppendixShowing 400 of 530 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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IRS990ScheduleD/RevenueSubtotalAmt0348000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Rowan Development Inc adopted the accounting pronouncement related to uncertain tax positions effective July 1, 2009. Management has determined that there were no uncertain tax positions at Rowan Development Inc as of the date of the adoption or at June 30, 2020. In addition, there was no income tax related penalties and interest reported by the Organization for the period in question.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D Part XIII, FIN 48
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IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt0348000
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS ON ANNUAL BASIS ARE REQUIRED TO UPDATE THEIR CONFLICT OF INTEREST STATEMENTS AND SUBMIT TO CEO OF OARC (PARENT COMPANY) FOR REVIEW AND FILING. THIS IS DONE AT THE LAST BOARD MEETING IN THE FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DOCUMENTS ARE MAINTAINED IN PDF.FORMAT AND MADE AVAILABLE UPON REQUEST IN THE FINANCE DEPARTMENT OF OARC (PARENT COMPANY).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2On an annual basis the board meets with the auditors to go over and approve the annual consolidated audit report.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0CONFLICT OF INTEREST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PUBLIC AVAILIBILITY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 Part XII, 2C audit approval
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0FRIENDS OF WEST OAK LANE CHARTER SCHOOL
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IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0PROPERTY MGMT
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0GENERAL PARTN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1GENERAL PARTN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0OGONTZ HALL INVESTORS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1ZAG INC
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt00
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt1RENTAL
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0ZAG DEVELOPMENT LP
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd1PA
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd119150

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,222
Liabilities
$1,138,958
Net assets
-$1,124,736
Revenue
$348,000
Expenses
$497,083
Net income
-$149,083
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.51$0.50$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.51$0.50$0.00$0.00$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.51$0.50$0.00$0.00$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.01$0.51$0.50$0.63$0.01$0.62
2020Detailed filing. Detailed filing data is available for this year.$0.01$1.14$1.12$0.35$0.50$0.15
2019Detailed filing. Detailed filing data is available for this year.$0.55$1.52$0.98$0.67$0.20$0.46
2018Detailed filing. Detailed filing data is available for this year.$0.63$2.07$1.44$1.75$0.09$1.65
2017Detailed filing. Detailed filing data is available for this year.$0.69$3.78$3.09$3.41$4.27$7.68
2016Detailed filing. Detailed filing data is available for this year.$8.57$3.98$4.59$0.40$0.63$0.23
2015Detailed filing. Detailed filing data is available for this year.$8.63$3.80$4.83$0.72$0.81$0.09
2014Summary only. Only limited summary data is available for this year.$9.01$4.12$4.88$0.91$0.79$0.12
2013Summary only. Only limited summary data is available for this year.$8.72$3.95$4.77$0.91$0.69$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.71$4.16$4.55$0.99
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.35$0.53$4.81$1.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.55$0.60$4.95$0.44