Civic Intelligence

Renaissance West Community Initiative

990 • Fiscal year 2017 • EIN 27-1396021

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 02, 2018

3610 Nobles AvenueCharlotte, NC 28208

(704) 248-3761

Siviq Scores

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

Liabilities / Assets

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

6th percentile

0.01x

Higher debt load relative to revenue than 6% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Net Margin

98th percentile

77%

Higher net margin than 98% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

34th percentile

$122,145

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Asset Growth

94th percentile

76%

Faster asset growth than 94% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

93rd percentile

84%

Faster revenue growth than 93% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$10,430,284

Up $4,495,752 (+76%) from 2016

Net Assets

Up

$10,397,199

Up $4,519,593 (+77%) from 2016

Liabilities

Down

$33,085

Down $23,841 (-42%) from 2016

Revenue

Up

$6,317,270

Up $2,877,768 (+84%) from 2016

Expenses

Up

$1,454,285

Up $811,093 (+126%) from 2016

Net Income

Up

$4,862,985

Up $2,066,675 (+74%) from 2016

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2013: $312,023Liabilities 2013: $11,171Net Assets 2013: $300,8522013Assets 2014: $347,988Liabilities 2014: $21,555Net Assets 2014: $326,4332014Assets 2016: $5,934,532Liabilities 2016: $56,926Net Assets 2016: $5,877,6062016Assets 2017: $10,430,284Liabilities 2017: $33,085Net Assets 2017: $10,397,1992017Assets 2018: $8,352,707Liabilities 2018: $343,043Net Assets 2018: $8,009,6642018Assets 2020: $7,289,659Liabilities 2020: $76,720Net Assets 2020: $7,212,9392020Assets 2021: $9,550,833Liabilities 2021: $132,235Net Assets 2021: $9,418,5982021Assets 2024: $8,621,103Liabilities 2024: $473,696Net Assets 2024: $8,147,4072024

Highlighted filing

2017

Assets$10,430,284
Liabilities$33,085
Net Assets$10,397,199

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2013: $421,000Expenses 2013: $120,148Net Income 2013: $300,8522013Revenue 2014: $280,338Expenses 2014: $254,757Net Income 2014: $25,5812014Revenue 2016: $3,439,502Expenses 2016: $643,192Net Income 2016: $2,796,3102016Revenue 2017: $6,317,270Expenses 2017: $1,454,285Net Income 2017: $4,862,9852017Revenue 2018: $3,113,863Expenses 2018: $2,607,843Net Income 2018: $506,0202018Revenue 2020: $2,152,414Expenses 2020: $2,042,143Net Income 2020: $110,2712020Revenue 2021: $4,133,933Expenses 2021: $1,975,274Net Income 2021: $2,158,6592021Revenue 2024: $2,404,772Expenses 2024: $6,455,512Net Income 2024: -$4,050,7402024

Highlighted filing

2017

Revenue$6,317,270
Expenses$1,454,285
Net Income$4,862,985
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 2, 2018
Return Version
2017v2.3
Gross Receipts
$6,317,270
Mission and Program Overview

Mission

To promote a collaborative community centered on quality housing, education, health, wellness, and opportunity.

To promote a collaborative community centered on quality housing, education, health, wellness, & opportunity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,081,404$3,639,456▲ $1,558,052
Pledges and Grants Receivable$3,467,968$3,498,142▲ $30,174
Other Notes and Loans Receivable, Net-$3,108,525-
Accounts Receivable$345$63,151▲ $62,806
Prepaid Expenses and Deferred Charges$27,872$62,605▲ $34,733
Land, Buildings, and Equipment, Net$356,943$9,866▼ $347,077
Total Assets$5,934,532$10,430,284▲ $4,495,752
Other Assets Total-$48,539-
Liabilities
Accounts Payable and Accrued Expenses$56,926$33,085▼ $23,841
Total Liabilities$56,926$33,085▼ $23,841
Net Assets / Fund Balance
Unrestricted Net Assets$1,903,069$6,279,237▲ $4,376,168
Temporarily Rstr Net Assets$3,974,537$4,117,962▲ $143,425
Total Net Assets Fund Balance$5,877,606$10,397,199▲ $4,519,593
Total Liabilities and Net Assets / Fund Balance$5,934,532$10,430,284▲ $4,495,752

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,866$8,561$18,427
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
William Mcdonald JrExecutive DirectorFT$103,177$18,968$122,145

Board Members and Trustees

NameTitle
David H JonesChair
Todd W MansfieldChairman Emeritus
Dionne NelsonImmediate Past Chair
Rosalyn a JacobsVice-chair
Andre HesterBoard Member
Ann ClarkBoard Member
Brett Q Tempest PhdBoard Member
Cammie HauptfuhrerBoard Member
Jada Grandy-mockBoard Member
John J CulbertsonBoard Member
Michael P RizerBoard Member
Richard WilliamsBoard Member
Scott WilsonBoard Member
Steve KeckeisBoard Member
Terri PopeBoard Member
William E CurrensBoard Member
Ellen RogersTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Miles-mcclellan Construction CoConstruction For The Hlcdc Preschool2201-E CROWNPOINT EXEC DR, Charlotte, NC 28227$3,797,818
Ymca Of Greater CharlottePer Contract-operation Expenses For Pre-400 E MOREHEAD ST, Charlotte, NC 28037$464,811
Revenue and Support

Revenue Composition

Contributions and Grants
$6,290,792
Program Service Revenue
$0
Investment Income
$26,478
Other Revenue
$0
All Other Contributions
$6,290,792
Change in Net Assets
$4,862,985
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,018,770
Salaries, Compensation, and Employee Benefits$435,515
Total Fundraising Expense$170,644
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$529,863$2,039$8,508$540,410
Other Salaries and Wages$125,852$40,406$65,849$232,107
Interest$169,375--$169,375
Current Officers, Directors, Trustees, and Key Employees$66,229$21,264$34,652$122,145
Other Employee Benefits$25,354$5,627$13,018$43,999
Payroll Taxes$16,307$3,619$8,373$28,299
Occupancy$13,761$2,093$3,298$19,152
Advertising$150$6$13,846$14,002
Office Expenses$7,848$3,096$1,969$12,913
Pension Plan Contributions$5,166$1,147$2,652$8,965
Conferences and Meetings$2,587$3,756$1,433$7,776
Insurance$3,724$567$893$5,184
Depreciation Depletion$2,647$403$635$3,685
Other Expenses$10$81$39$91
Travel$88--$88
Total Functional Expenses$1,199,272$84,369$170,644$1,454,285
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
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
Yes
Other officer compensation reviewed
Yes
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 B, Line 11B

The form 990 is provided to the finance committee for their review and approval. The board of directors is provided a copy of the form 990 for review prior to filing.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy and a discussion about the policy is provided to each board member annually and each member is asked to sign a statement of understanding of the policy. The statements are kept on file. When a conflict of interest is relevant to a matter requiring action by the board, the interested person(s) must call it to the attention of the board and may not vote on the matter. In addition, the interested person(s) may not participate in the final decision or related deliberation regarding the matter under consideration. When there is a doubt as to whether a conflict exists, the matter shall be resolved by vote of the board of trustees, excluding the person(s) concerning whose situation the doubt has arisen.

Form 990, Part VI, Section B, Line 15

The executive committee of the board of directors conducts the annual performance and compensation review of the executive director and the compensation is approved by the full board of directors.

Form 990, Part VI, Section C, Line 19

Rwci makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Renaissance West Community Initiative
EIN
27-1396021
Phone
7042483761
Address
3610 NOBLES AVENUE, CHARLOTTE, NC 28208

Signing Officer

Name
William Mcdonald Jr
Title
Executive Director
Phone
7042483761
Signed
2018-08-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Mcdonald Jr
Formed
2009
Legal Domicile
Nc
Voting Board Members
17
Independent Board Members
17
Employees
11
Volunteers
50

Preparer

Firm
Cliftonlarsonallen Llp
Address
227 WEST TRADE STREET SUITE 800, CHARLOTTE, NC 28202
Preparer
John Norman
Phone
7049985200
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Case management, it and other contracted services: program service expenses 529,863. Management and general expenses 2,039. Fundraising expenses 8,508. Total expenses 540,410.

FORM 990, PART XI, LINE 9:

Rcdc net assets -343,392.

Form 990, Part XII, Line 2C

There has been no change in the process for choosing an independent accountant.

Financial Statement Notes

PART X, LINE 2:

The organization is a nonprofit organization and is exempt from income tax under section 501(c)(3) of the internal revenue code with respect to its exempt function income. The organization is not a private foundation as defined by section 509(a) of the internal revenue code. The organization's income tax returns are subject to review and examination by federal, state, and local authorities. The organization is not aware of any activities that would jeopardize its tax-exempt status. The organization is not aware of any activities that are subject to tax on unrelated business income or excise or other taxes. Generally accepted accounting principles require an organization to recognize a tax benefit or expense from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the tax authorities, based on the technical merits of the position. Management believes the organization had no uncertain tax positions as of december 31, 2017 or 2016.

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IRS990/Desc0RENAISSANCE WEST COMMUNITY INITIATIVE LEADS THE REVITALIZATION OF A COMMUNITY IN WEST CHARLOTTE NC. THE GOAL OF THE INITIATIVE IS TO BREAK THE CYCLE OF POVERTY AND IMPROVE THE ECONOMIC MOBILITY. BASED ON THE PURPOSE BUILT COMMUNITIES MODEL, THIS COMPREHENSIVE APPROACH INCLUDES MIXED-INCOME HOUSING, A CRADLE-TO-CAREER EDUCATION CONTINUUM, AND WRAPAROUND SERVICES FOR FAMILIES. THE REVITALIZATION INCLUDES 334 UNITS OF HOUSING (SENIOR AND FAMILY), A HIGH-QUALITY CHILD DEVELOPMENT CENTER, A PRE-K THRU 8 PUBLIC SCHOOL WITH A STEM FOCUS, AND A COMMUNITY CENTER. RWCI SERVES AS THE COMMUNITY QUARTERBACK; IT ENSURES THAT RESIDENTS HAVE ACCESS TO EFFECTIVE PROGRAMS AND SERVICES AND ALIGNS THOSE PROGRAMS FOR MAXIMUM IMPACT. WRAPAROUND SUPPORTS INCLUDE CARE COORDINATION, EARLY CHILDHOOD INTERVENTIONS, FINANCIAL LITERACY, JOB TRAINING, ACADEMIC SUPPORT AND RECREATION OPPORTUNITITES. RWCI IS FUNDED PRIMARILY THROUGH PHILANTHROPIC CONTRIBUTIONS FROM INDIVIDUALS, CORPORATIONS, AND FOUNDATIONS. IN JUST FOUR YEARS OF OPERATIONS RWCI HAS: NEGOTIATED AN INNOVATIVE AGREEMENT WITH CHARLOTTE-MECKLENBURG SCHOOLS THAT INCLUDES NEARLY $30M FOR SCHOOL CONSTRUCTION, DEVELOPED A PARTNERSHIP WITH YMCA OF GREATER CHARLOTTE TO OPERATE THE ON-SITE CHILD DEVELOPMENT CENTER, BEGUN PROVIDING CARE COORDINATION (CASE MANAGEMENT) FOR PUBLIC HOUSING RESIDENTS, STARTED IMPLEMENTATION OF COMPREHENSIVE WRAPAROUND SERVICES, AND SECURED NEARLY $15M IN COMMITMENTS FOR THE CHILD DEVELOPMENT CENTER, PROGRAMS, AND OPERATIONS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIRMAN EMERITUS
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
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IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROMOTE A COLLABORATIVE COMMUNITY CENTERED ON QUALITY HOUSING, EDUCATION, HEALTH, WELLNESS, AND OPPORTUNITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/OccupancyGrp/ManagementAndGeneralAmt02093
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IRS990/OccupancyGrp/TotalAmt019152
IRS990/OfficeExpensesGrp/FundraisingAmt01969
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03096
IRS990/OfficeExpensesGrp/ProgramServicesAmt07848
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
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IRS990/OtherChangesInNetAssetsAmt0-343392
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt013018
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt05627
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IRS990/OtherExpensesGrp/Desc0PROGRAM/COMMUNITY INVOL
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IRS990/OtherExpensesGrp/Desc2POSTAGE AND SHIPPING
IRS990/OtherExpensesGrp/Desc3DUES AND MEMBERSHIP
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/PrincipalOfficerNm0WILLIAM MCDONALD JR
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NONPROFIT ORGANIZATION AND IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE WITH RESPECT TO ITS EXEMPT FUNCTION INCOME. THE ORGANIZATION IS NOT A PRIVATE FOUNDATION AS DEFINED BY SECTION 509(A) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE AN ORGANIZATION TO RECOGNIZE A TAX BENEFIT OR EXPENSE FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAX AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT BELIEVES THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2017 OR 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990/ScheduleJRequiredInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PROVIDED TO THE FINANCE COMMITTEE FOR THEIR REVIEW AND APPROVAL. THE BOARD OF DIRECTORS IS PROVIDED A COPY OF THE FORM 990 FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY AND A DISCUSSION ABOUT THE POLICY IS PROVIDED TO EACH BOARD MEMBER ANNUALLY AND EACH MEMBER IS ASKED TO SIGN A STATEMENT OF UNDERSTANDING OF THE POLICY. THE STATEMENTS ARE KEPT ON FILE. WHEN A CONFLICT OF INTEREST IS RELEVANT TO A MATTER REQUIRING ACTION BY THE BOARD, THE INTERESTED PERSON(S) MUST CALL IT TO THE ATTENTION OF THE BOARD AND MAY NOT VOTE ON THE MATTER. IN ADDITION, THE INTERESTED PERSON(S) MAY NOT PARTICIPATE IN THE FINAL DECISION OR RELATED DELIBERATION REGARDING THE MATTER UNDER CONSIDERATION. WHEN THERE IS A DOUBT AS TO WHETHER A CONFLICT EXISTS, THE MATTER SHALL BE RESOLVED BY VOTE OF THE BOARD OF TRUSTEES, EXCLUDING THE PERSON(S) CONCERNING WHOSE SITUATION THE DOUBT HAS ARISEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS CONDUCTS THE ANNUAL PERFORMANCE AND COMPENSATION REVIEW OF THE EXECUTIVE DIRECTOR AND THE COMPENSATION IS APPROVED BY THE FULL BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3RWCI MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.

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