Civic Intelligence

Cedar Village Foundation

990 • Fiscal year 2015 • EIN 27-2598846

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 10, 2016

5467 Cedar Village DriveMason, OH 45040

(513) 754-3100

Siviq Scores

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

Liabilities / Assets

10th percentile

0.01x

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

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

26th percentile

0.09x

Higher debt load relative to revenue than 26% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

95th percentile

67%

Higher net margin than 95% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

55th percentile

$187,555

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 15.7% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

8th percentile

-11%

Faster asset growth than 8% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

12th percentile

-23%

Faster revenue growth than 12% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Assets

Down

$19,620,954

Down $2,486,962 (-11%) from 2014

Net Assets

Down

$19,509,680

Down $2,524,761 (-11%) from 2014

Liabilities

Up

$111,274

Up $37,799 (+51%) from 2014

Revenue

Down

$1,195,237

Down $347,480 (-23%) from 2014

Expenses

Down

$396,420

Down $6,935 (-1.7%) from 2014

Net Income

Down

$798,817

Down $340,545 (-30%) from 2014

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2012: $23,307,456Liabilities 2012: $520,098Net Assets 2012: $22,787,3582012Assets 2014: $22,107,916Liabilities 2014: $73,475Net Assets 2014: $22,034,4412014Assets 2015: $19,620,954Liabilities 2015: $111,274Net Assets 2015: $19,509,6802015Assets 2016: $18,298,638Liabilities 2016: $24,214Net Assets 2016: $18,274,4242016Assets 2017: $15,792,424Liabilities 2017: $29,408Net Assets 2017: $15,763,0162017Assets 2018: $12,598,866Liabilities 2018: $0Net Assets 2018: $12,598,8662018Assets 2019: $18,675,592Liabilities 2019: $351,597Net Assets 2019: $18,323,9952019Assets 2020: $20,198,995Liabilities 2020: $113,451Net Assets 2020: $20,085,5442020Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2015

Assets$19,620,954
Liabilities$111,274
Net Assets$19,509,680

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2012: $443,3182012Revenue 2014: $1,542,717Expenses 2014: $403,355Net Income 2014: $1,139,3622014Revenue 2015: $1,195,237Expenses 2015: $396,420Net Income 2015: $798,8172015Revenue 2016: $1,454,946Expenses 2016: $450,849Net Income 2016: $1,004,0972016Revenue 2017: $1,608,056Expenses 2017: $443,769Net Income 2017: $1,164,2872017Revenue 2018: $613,327Expenses 2018: $11,985Net Income 2018: $601,3422018Revenue 2019: $1,667,926Expenses 2019: $50,331Net Income 2019: $1,617,5952019Revenue 2020: $353,797Expenses 2020: $553,299Net Income 2020: -$199,5022020Revenue 2022: $546,420Expenses 2022: $576,056Net Income 2022: -$29,6362022

Highlighted filing

2015

Revenue$1,195,237
Expenses$396,420
Net Income$798,817
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 10, 2016
Return Version
2015v2.1
Gross Receipts
$3,725,090
Mission and Program Overview

Mission

NONE

Cedar village foundation is a supporting organization for cedar village. Cedar village provides residents of the greater cincinnati community with the highest quality healthcare, senior residential and community services, in keeping with jewish values. The mission of cedar village is that aging will be an enriching and fulfilling experience.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$16,662,973$15,071,303▼ $1,591,670
Investments Other Securities$3,897,518$3,263,730▼ $633,788
Cash and Non-Interest-Bearing Accounts$545,873$812,970▲ $267,097
Pledges and Grants Receivable$827,261$337,689▼ $489,572
Prepaid Expenses and Deferred Charges$32,341$20,010▼ $12,331
Total Assets$22,107,916$19,620,954▼ $2,486,962
Other Assets Total$141,950$115,252▼ $26,698
Liabilities
Other Liabilities$60,728$67,478▲ $6,750
Accounts Payable and Accrued Expenses$12,747$43,796▲ $31,049
Total Liabilities$73,475$111,274▲ $37,799
Net Assets / Fund Balance
Unrestricted Net Assets$14,619,632$12,700,992▼ $1,918,640
Permanently Rstr Net Assets$5,403,389$5,403,389→ $0
Temporarily Rstr Net Assets$2,011,420$1,405,299▼ $606,121
Total Net Assets Fund Balance$22,034,441$19,509,680▼ $2,524,761
Total Liabilities and Net Assets / Fund Balance$22,107,916$19,620,954▼ $2,486,962

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$2,763,814--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$6,755,934-▼ $135,124$301,684$6,311,697
2014$6,845,046-▲ $176,785$259,360$6,755,934
2013$6,651,992-▲ $487,160$280,048$6,845,046
2012$6,519,200$252,270▲ $649,541$761,521$6,651,992
2011$5,357,001$94,022▲ $1,070,977-$6,519,200
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Linton SharpnackCOO/interim CEO (of Cv)(end June 2015)PT$187,555$187,555
Dan FaginCEO (june 2015)PT$145,393$145,393
Stewart BrombergExecutive DiretorFT$123,540$123,540

Board Members and Trustees

NameTitle
Andrew ShottBoard Member (immediate Past Chair for Fdn)
Louise RoselleChair
Harvey CohenFoundation Vice Chair
Andrew HeldmanBoard Member
Bunny MeiselBoard Member
Ed FrankelBoard Member
Gerald RobinsonBoard Member
Jan FrankelBoard Member
Jeff ZipkinBoard Member
Jeffrey AdlerBoard Member
Louise WolfBoard Member
Murray GuttmanBoard Member
Ross VigranBoard Member
Roz HarkavyBoard Member
Sara BehrmanBoard Member
Ted SchwartzBoard Member
Wilbur CohenBoard Member
Linton SharpnackCOO/interim CEO (of Cv)(end June 201
Jay PriceSecretary
Larry NeumanTreasurer CVF
Revenue and Support

Revenue Composition

Contributions and Grants
$984,613
Program Service Revenue
$0
Investment Income
$283,171
Other Revenue
$-72,547
All Other Contributions
$565,953
Change in Net Assets
$798,817
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$199,342
Other Expenses$197,078
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$185,532--$185,532
Office Expenses$82,633$6,904-$89,537
Fees for Service Investment Mgmnt Fees$61,075--$61,075
Payroll Taxes$13,014--$13,014
Information Technology$8,512$2,688-$11,200
Fees for Services Other$11,010--$11,010
Advertising$10,781--$10,781
Insurance-$7,121-$7,121
Occupancy$3,096$504-$3,600
Travel-$2,564-$2,564
Pension Plan Contributions$796--$796
Fees for Services Management-$190-$190
Total Functional Expenses$376,449$19,971$0$396,420
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$100,278
Fundraising Gross Income$27,731
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$117,695$14,861$13,649$1,212
2015 Chia Gala$328,696$12,870$31,365$-18,495
Total Events$446,391$27,731$100,278$-72,547
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Related Party Payable$67,478
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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, line 2

There is a family relationship between board members harvey cohen and wilbur cohen.

Form 990, Part VI, Section A, line 6

The sole member of this organization is jewish home of cincinnati, inc, dba cedar village.

Form 990, Part VI, Section A, line 7A

The board of cedar village appoints the members of the board of directors for cedar village foundation at the annual meeting of the board. Cedar village also has the authority to remove one or more of the memebers of the cedar village foundation board at any time for any reason, upon written notice to the members of the board of the foundation.

Form 990, Part VI, Section B, line 11

The cfo of cedar village reviews the form 990 and distributes an electronic copy of the tax return to all board members via e-mail prior to filing.

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

The conflict of interest policy covers all members of the governing body. Board members are required to sign conflict of interest statements annually. Stew bromberg, executive director of the foundation reviews the completed conflict of interest statements. New board members complete a conflict of interest statement when they first join. Board members are fully aware to disclose conflicts when they initially arise. The ceo routinely reviews relationships for conflicts of interest and researches and addresses any potential conflicts. Potential conflicts must be disclosed to the ceo. Protective steps taken in the case of a conflict of interest include requiring the individual to refrain from being involved in any related decisions made by cedar village or to eliminate the conflict of interest by disposing of their interest in the other party.

Form 990, Part VI, Section B, line 15

Executive director compensation is set by the compensation committee of the board and the ceo of cedar village, a related party, using ohio and ajas salary surveys. The decisions regarding the executive director's compensation are documented in the minutes of the compensation committee meeting. The process is was last undertaken in 2013. In 2014, the new executive director was hired, with the assistance of the recruiting firm, korn-ferry. Survey data from ajas was used to set the salary. The organization does not have any officers which it compensates, therefore page 6 line 15b has been answered no.

Form 990, Part VI, Section C, line 19

The governing documents, conflict of interest policy, and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Cedar Village Foundation
EIN
27-2598846
Phone
5137543100
Address
5467 CEDAR VILLAGE DRIVE, MASON, OH 45040

Signing Officer

Name
Dan Fagin
Title
CEO
Phone
5137543100
Signed
2016-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stewart Bromberg
Formed
2011
Legal Domicile
Oh
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
200

Preparer

Firm
Plante & Moran Pllc
Address
250 S High St Suite 100, Columbus, OH 43215
Preparer
Bernie Ostrowski
Phone
6148493000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Transfer to/from cedar village -2,117,003. Restricted contributions -91,070.

FORM 990, PART XII, LINE 2C:

The finance committee performed the functions of an audit committee.

Financial Statement Notes

Part V, Line 4:

The intended use of the berg, weinberg, and may-drury endowment funds is to provide for resident activities.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0JEWISH HOME OF CINCINNATI INC DBA CEDAR VILLAGE

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