Civic Intelligence

Canal Park Inc.

990 • Fiscal year 2014 • EIN 27-0919952

Oct 01, 2013 to Sep 30, 2014 • Filed on Feb 16, 2015

Organization Profilewww.canalparkdc.org
1100 New Jersey Ave SESuite 100020003

(202) 371-1220

Siviq Scores

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

Liabilities / Assets

76th percentile

0.58x

Higher debt load relative to assets than 76% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

99th percentile

39.30x

Higher debt load relative to revenue than 99% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

1st percentile

-619%

Higher net margin than 1% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

9th percentile

-8.4%

Faster asset growth than 9% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$24,611,384

Down $2,251,912 (-8.4%) from 2013

Net Assets

Down

$10,278,963

Down $2,258,353 (-18%) from 2013

Liabilities

Up

$14,332,421

Up $6,441 (+0.0%) from 2013

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

$364,689

No earlier filing loaded for comparison.

Expenses

Up

$2,623,042

Up $900,988 (+52%) from 2013

Net Income

-$2,258,353

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$30M$20M$10M$0Assets 2012: $29,111,843Liabilities 2012: $18,146,604Net Assets 2012: $10,965,2392012Assets 2013: $26,863,296Liabilities 2013: $14,325,980Net Assets 2013: $12,537,3162013Assets 2014: $24,611,384Liabilities 2014: $14,332,421Net Assets 2014: $10,278,9632014Assets 2015: $22,693,130Liabilities 2015: $14,441,243Net Assets 2015: $8,251,8872015Assets 2016: $20,778,704Liabilities 2016: $14,478,649Net Assets 2016: $6,300,0552016Assets 2017: $19,023,656Liabilities 2017: $14,517,066Net Assets 2017: $4,506,5902017Assets 2018: $17,213,321Liabilities 2018: $42,277Net Assets 2018: $17,171,0442018Assets 2019: $15,903,954Liabilities 2019: $87,572Net Assets 2019: $15,816,3822019Assets 2020: $14,551,599Liabilities 2020: $81,966Net Assets 2020: $14,469,6332020Assets 2021: $13,259,170Liabilities 2021: $69,944Net Assets 2021: $13,189,2262021Assets 2022: $11,877,818Liabilities 2022: $27,441Net Assets 2022: $11,850,3772022Assets 2023: $10,624,398Liabilities 2023: $21,849Net Assets 2023: $10,602,5492023Assets 2024: $9,359,586Liabilities 2024: $25,206Net Assets 2024: $9,334,3802024Assets 2025: $8,058,764Liabilities 2025: $29,478Net Assets 2025: $8,029,2862025

Highlighted filing

2014

Assets$24,611,384
Liabilities$14,332,421
Net Assets$10,278,963
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2012: $20,7432012Expenses 2013: $1,722,0542013Revenue 2014: $364,689Expenses 2014: $2,623,042Net Income 2014: -$2,258,3532014Revenue 2015: $452,859Expenses 2015: $2,479,935Net Income 2015: -$2,027,0762015Revenue 2016: $335,706Expenses 2016: $2,229,442Net Income 2016: -$1,893,7362016Revenue 2017: $306,731Expenses 2017: $2,100,196Net Income 2017: -$1,793,4652017Revenue 2018: $15,314,610Expenses 2018: $1,995,835Net Income 2018: $13,318,7752018Revenue 2019: $457,864Expenses 2019: $1,812,526Net Income 2019: -$1,354,6622019Revenue 2020: $421,639Expenses 2020: $1,768,388Net Income 2020: -$1,346,7492020Revenue 2021: $152,392Expenses 2021: $1,432,799Net Income 2021: -$1,280,4072021Revenue 2022: $532,498Expenses 2022: $1,871,347Net Income 2022: -$1,338,8492022Revenue 2023: $446,647Expenses 2023: $1,756,858Net Income 2023: -$1,310,2112023Revenue 2024: $522,862Expenses 2024: $1,791,031Net Income 2024: -$1,268,1692024Revenue 2025: $431,691Expenses 2025: $1,736,785Net Income 2025: -$1,305,0942025

Highlighted filing

2014

Revenue$364,689
Expenses$2,623,042
Net Income-$2,258,353
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
Feb 16, 2015
Return Version
2013v4.0
Gross Receipts
$393,397
Mission and Program Overview

Mission

Promote management of green-space/public park for community, civic, & public use in southeast dc.

to support the exempt purpose of canal park development association, inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$24,807,831$22,918,542▼ $1,889,289
Savings and Temporary Cash Investments$768,854$840,167▲ $71,313
Cash and Non-Interest-Bearing Accounts$371,425$0▼ $371,425
Accounts Receivable$25,682$1,566▼ $24,116
Prepaid Expenses and Deferred Charges$13,900$727▼ $13,173
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
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$26,863,296$24,611,384▼ $2,251,912
Other Assets Total$875,604$850,382▼ $25,222
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,365,000$13,365,000→ $0
Other Liabilities$960,018$959,953▼ $65
Accounts Payable and Accrued Expenses$962$7,468▲ $6,506
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$14,325,980$14,332,421▲ $6,441
Net Assets / Fund Balance
Unrestricted Net Assets$12,537,316$10,278,963▼ $2,258,353
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$12,537,316$10,278,963▼ $2,258,353
Total Liabilities and Net Assets / Fund Balance$26,863,296$24,611,384▼ $2,251,912

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$15,560,906$2,628,707$18,189,613
Buildings$7,215,302$352,204$7,567,506
Equipment$142,334$138,387$280,721
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
W CHRISTOPHER SMITH JRWC Smithpresident
ADRIANNE TODMANdchaBoard Member
ANDREW MCINTYREjbgBoard Member
MICHAEL STEVENScapbidBoard Member
ROSE OLIPHANTdchaBoard Member
jim flanaganboard member
john wilsonjbgBoard Member
jonathan kanedchaboard member
BRADLEY FENNELLwc smithSecretary/bod Member
TERRY BEAUFORDwc smithTreasurer/bod Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Total Mechanical Contractors Increpairs & maint-$246,348
James G Davis Constructionconstruction-$127,184
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$119,232
Investment Income
$3,201
Other Revenue
$242,256
Change in Net Assets
$-2,258,353

Audited Revenue Reconciliation

Revenue per Audited Statements
$364,689
Revenue Not Reported on Form 990
$203,824
Total Revenue per Audited Statements
$568,513
Total Revenue per Form 990
$364,689
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,490,278
Salaries, Compensation, and Employee Benefits$132,764
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$2,003,849--$2,003,849
Other Salaries and Wages$125,879--$125,879
Fees for Services Management$111,468--$111,468
Interest$80,217--$80,217
Other Expenses$53,391$46,191-$46,191
Fees for Services Accounting-$31,087-$31,087
Insurance$24,569--$24,569
Fees for Services Legal-$17,407-$17,407
All Other Expenses$4,298$5,604-$9,902
Other Employee Benefits$4,072--$4,072
Office Expenses$2,660$252-$2,912
Payroll Taxes$2,653--$2,653
Advertising-$1,882-$1,882
Pension Plan Contributions$160--$160
Total Functional Expenses$2,520,619$102,423$0$2,623,042

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,826,866
Expenses per Audited Statements$2,623,042
Total Expenses per Form 990$2,623,042
Expenses Not Reported on Form 990$203,824
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
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Supported Organization$937,786
Security Deposits$22,167
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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

Governance Explanations

FORM 990, PART VI, SECTION A, #2

“The organization's president is an officer and majority shareholder of william c. Smith & co., a washington, d.c. Property management company, where the organization's secretary and treasurer are also affiliated as officers. The organization's officers are not compensated by canal park, inc. Or by its supported organization, canal park development association, inc.”

FORM 990, PART VI, SECTION B, #11

“Review process for the entity's form 990: the organization's form 990 is prepared by an independent accounting firm and reviewed by its officers before filing.”

FORM 990, PART VI, SECTION C, #19

“The organization makes its governing documents and financial statements available to the public upon request.”

form 990, part VI, section B, #12C

“organization's procedure to regularly and consistently monitor and enforce conflict of interest policy: each board member signs the conflict of interest statement and returns the form at the annual meeting. Any reported conflicts of interest are managed on a case by case basis.”

Filing and Contact Details

Filer

EIN
27-0919952
In Care Of
% TERRY BEAUFORD TREASURER
Phone
2023711220

Signing Officer

Name
w christopher smith jr
Title
CFO
Phone
2023711220
Signed
2015-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
w christopher smith jr
Formed
2009
Legal Domicile
Dc
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Preparer
Robert Eby CPA
Phone
2023711220
Supplemental Narrative

Additional Explanations

FORM 990, PART III, #2 & #3

“As part of a financing agreement, the organization acquired the rights and obligations of its supported organization, canal park development association, inc, to use, develop and construct improvements of a public park in southeast washington, dc, known as canal park.”

Financial Statement Notes

Part X line 2

“FINANCIAL NOTE IN REGARD TO FIN 48 (ASC 740): The Organization evaluates uncertainty in income tax positions based on a more-likely-than-not recognition standard. If that threshold is met, the tax position is then measured at the largest amount that is greater than 50% likely of being realized upon ultimate settlement. As of September 30, 2014 and 2013, there are no accruals for uncertain tax positions. If applicable, the Organization records interest and penalties as a component of income tax expense. Tax years from 2011 through the current year remain open for examination by tax authorities.”

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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0727
IRS990/PrincipalOfficerNm0w christopher smith jr
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt02623042
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine10CANAL PARK DEVELOPMENT ASSOCIATION INC
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IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0203824
IRS990ScheduleD/DonatedServicesUseFcltsAmt0203824
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0138387
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IRS990ScheduleD/ExpensesSubtotalAmt02623042
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt015560906
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02628707
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt018189613
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt022167
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1937786
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO SUPPORTED ORGANIZATION
IRS990ScheduleD/RevenueNotReportedAmt0203824
IRS990ScheduleD/RevenueSubtotalAmt0364689
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FINANCIAL NOTE IN REGARD TO FIN 48 (ASC 740): The Organization evaluates uncertainty in income tax positions based on a more-likely-than-not recognition standard. If that threshold is met, the tax position is then measured at the largest amount that is greater than 50% likely of being realized upon ultimate settlement. As of September 30, 2014 and 2013, there are no accruals for uncertain tax positions. If applicable, the Organization records interest and penalties as a component of income tax expense. Tax years from 2011 through the current year remain open for examination by tax authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X line 2
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IRS990ScheduleD/TotalRevenuePerForm990Amt0364689
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S PRESIDENT IS AN OFFICER AND MAJORITY SHAREHOLDER OF WILLIAM C. SMITH & CO., A WASHINGTON, D.C. PROPERTY MANAGEMENT COMPANY, WHERE THE ORGANIZATION'S SECRETARY AND TREASURER ARE ALSO AFFILIATED AS OFFICERS. THE ORGANIZATION'S OFFICERS ARE NOT COMPENSATED BY CANAL PARK, INC. OR BY ITS SUPPORTED ORGANIZATION, CANAL PARK DEVELOPMENT ASSOCIATION, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEW PROCESS FOR THE ENTITY'S FORM 990: THE ORGANIZATION'S FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY ITS OFFICERS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AS PART OF A FINANCING AGREEMENT, THE ORGANIZATION ACQUIRED THE RIGHTS AND OBLIGATIONS OF ITS SUPPORTED ORGANIZATION, CANAL PARK DEVELOPMENT ASSOCIATION, INC, TO USE, DEVELOP AND CONSTRUCT IMPROVEMENTS OF A PUBLIC PARK IN SOUTHEAST WASHINGTON, DC, KNOWN AS CANAL PARK.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4organization's procedure to regularly and consistently monitor and enforce conflict of interest policy: each board member signs the conflict of interest statement and returns the form at the annual meeting. Any reported conflicts of interest are managed on a case by case basis.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, #2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, #11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, #19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART III, #2 & #3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4form 990, part vi, section B, #12c
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine10NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10CANAL PARK DEVELOPMENT ASSOCIATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0030506964
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0DC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PUBLIC PARK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine101100 NEW JERSEY AVE SE 1000
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0WASHINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State0DC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode020003
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0fmv
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine10canal park development association inc
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IRS990ScheduleR/TransferToOtherOrgInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,611,384
Liabilities
$14,332,421
Net assets
$10,278,963
Revenue
$364,689
Expenses
$2,623,042
Net income
-$2,258,353
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.06$0.03$8.03$0.43$1.74$1.31
2024Detailed filing. Detailed filing data is available for this year.$9.36$0.03$9.33$0.52$1.79$1.27
2023Detailed filing. Detailed filing data is available for this year.$10.6$0.02$10.6$0.45$1.76$1.31
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$0.03$11.9$0.53$1.87$1.34
2021Detailed filing. Detailed filing data is available for this year.$13.3$0.07$13.2$0.15$1.43$1.28
2020Detailed filing. Detailed filing data is available for this year.$14.6$0.08$14.5$0.42$1.77$1.35
2019Detailed filing. Detailed filing data is available for this year.$15.9$0.09$15.8$0.46$1.81$1.35
2018Detailed filing. Detailed filing data is available for this year.$17.2$0.04$17.2$15.3$2.00$13.3
2017Detailed filing. Detailed filing data is available for this year.$19.0$14.5$4.51$0.31$2.10$1.79
2016Detailed filing. Detailed filing data is available for this year.$20.8$14.5$6.30$0.34$2.23$1.89
2015Detailed filing. Detailed filing data is available for this year.$22.7$14.4$8.25$0.45$2.48$2.03
2014Detailed filing. Detailed filing data is available for this year.$24.6$14.3$10.3$0.36$2.62$2.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.9$14.3$12.5$1.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.1$18.1$11.0$0.02
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • $10M-$25M nonprofits

Location unavailable

View Organization

452106295

501(c)3

Revenue$24,288,715
Assets$18,460,144

Revenue vs current organization

6560% higher

Assets vs current organization

25% lower