Civic Intelligence

Mcduff Qalicb Inc

990 • Fiscal year 2014 • EIN 27-3004832

Jul 01, 2013 to Jun 30, 2014 • Filed on Mar 01, 2015

Organization ProfileN/A
1440 N Mcduff Avenue32254

(904) 683-6643

Siviq Scores

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

Liabilities / Assets

94th percentile

1.02x

Higher debt load relative to assets than 94% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2014

Net Margin

100th percentile

100%

Higher net margin than 100% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Asset Growth

24th percentile

-1.2%

Faster asset growth than 24% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M 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 / Assets94th percentile

Assets

Down

$25,589,588

Down $308,767 (-1.2%) from 2013

Net Assets

Down

-$578,162

Down $308,767 (-115%) from 2013

Liabilities

Flat

$26,167,750

Flat from 2013

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

-$308,767

No earlier filing loaded for comparison.

Expenses

Flat

$0

Flat from 2013

Net Income

-$308,767

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$30M$20M$10M$0-$10MAssets 2012: $26,098,258Liabilities 2012: $26,167,749Net Assets 2012: -$69,4912012Assets 2013: $25,898,355Liabilities 2013: $26,167,750Net Assets 2013: -$269,3952013Assets 2014: $25,589,588Liabilities 2014: $26,167,750Net Assets 2014: -$578,1622014Assets 2015: $25,296,532Liabilities 2015: $26,176,350Net Assets 2015: -$879,8182015Assets 2016: $25,213,870Liabilities 2016: $26,538,219Net Assets 2016: -$1,324,3492016Assets 2017: $21,827,483Liabilities 2017: $26,107,681Net Assets 2017: -$4,280,1982017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2014

Assets$25,589,588
Liabilities$26,167,750
Net Assets-$578,162
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$0-$1.0M-$2.0M-$3.0MExpenses 2012: $02012Expenses 2013: $02013Revenue 2014: -$308,767Expenses 2014: $0Net Income 2014: -$308,7672014Revenue 2015: -$301,656Expenses 2015: $0Net Income 2015: -$301,6562015Revenue 2016: -$444,531Expenses 2016: $0Net Income 2016: -$444,5312016Revenue 2017: -$2,955,849Expenses 2017: $0Net Income 2017: -$2,955,8492017Revenue 2018: -$35,130Expenses 2018: $72,550Net Income 2018: -$107,6802018

Highlighted filing

2014

Revenue-$308,767
Expenses$0
Net Income-$308,767
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Mar 1, 2015
Return Version
2013v4.0
Gross Receipts
$557,244
Mission and Program Overview

Mission

Hold, develop and maintain, and retain financing as needed for the real estate used by kipp jacksonville, inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$23,503,416$23,035,029▼ $468,387
Intangible Assets$517,156$498,004▼ $19,152
Savings and Temporary Cash Investments$658,681$493,724▼ $164,957
Cash and Non-Interest-Bearing Accounts$28,407$23,812▼ $4,595
Total Assets$25,898,355$25,589,588▼ $308,767
Other Assets Total$1,190,695$1,539,019▲ $348,324
Liabilities
Other Liabilities$26,167,750$26,167,750→ $0
Total Liabilities$26,167,750$26,167,750→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$-269,395$-578,162▼ $308,767
Total Net Assets Fund Balance$-269,395$-578,162▼ $308,767
Total Liabilities and Net Assets / Fund Balance$25,898,355$25,589,588▼ $308,767

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,867,681$1,209,929$21,077,610
Land$2,930,000-$2,930,000
Equipment$237,348$98,030$335,378
Other Assets Org$1,539,019--
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

NameTitle
Ryan a SchwartzPresident
John D Milton JrDirector
Matthew R KaneDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,004
Other Revenue
$-309,771
Change in Net Assets
$-308,767

Audited Revenue Reconciliation

Revenue per Audited Statements
$-308,767
Total Revenue per Audited Statements
$-308,767
Total Revenue per Form 990
$-308,767
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable$26,167,750
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, Page 6, Part VI, Line 6

“The corporation has one member, kipp jacksonville, inc. (ein: 26-4046741), a fl non-profit corporation with tax-exempt status under irc section 501 (c)3.”

Form 990, Page 6, Part VI, Line 7A

“The sole member of the corporation, kipp jacksonville, inc., elects the board of directors and has the power to remove one or more directors with or without cause, provided that: a) the notice of the meeting at which removal is considered states the specific directors sought to be removed; and b) a separate vote is conducted for each director sought to be removed. Any vacancy created by such removal shall be filled by the member. However, the property, affairs and business of the corporation shall be managed by its board of directors and not by the sole member.”

Form 990, Page 6, Part VI, Line 11B

“A draft copy of the return is provided to the board prior to filing with the irs.”

Form 990, Page 6, Part VI, Line 12C

“An interested person may present the issue to the governing board and then will abstain from any vote on the transaction or arrangement involving the possible conflict of interest.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available upon request.”

Filing and Contact Details

Filer

EIN
27-3004832
Phone
9046836643

Signing Officer

Name
Ryan Schwartz
Title
President
Phone
9046836643
Signed
2015-03-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ryan Schwartz
Formed
2010
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Preparer
James S Laham
Phone
3217572020
Supplemental Narrative

Additional Explanations

Form 990

“In july 2010, mcduff entered into a new markets tax credit ("nmtc") transaction to finance property renovations. The nmtc program is administered by the community development financial institutions fund of the united states department of treasury and is intended to create new or increased investments into operating businesses and real estate projects located in low-income communities. Mcduff was formed to accomodate this transaction.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Kipp jacksonville, inc. And its subsidiaries are not-for-profit florida corporations that are exempt from federal income tax under section 501(c) (3) of the internal revenue code. Accordingly, no tax provisions have been made in the accompanying consolidated financial statements. The company accounts for income taxes in accordance with financial accounting standards board accounting standards codification ("fasb asc") 740 income taxes. Fasb asc 740 requires a two-step approach to evaluate tax positions and determine if they should be recognized in the consolidated financial statements. The two-step approach involves recognizing any tax positions that are more likely than not to occur and then measuring those positions to determine if they are recognizable in the consolidated financial statements. Management regularly reviews and analyzes all tax positions and has determined that no uncertain tax positions requiring recognition have occurred. The company is no longer subject to examaination by the internal revenue service for the years ending before june 30, 2011.”

Raw XML Appendix341 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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IRS990/IRPDocumentCnt03
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0KIPP JACKSONVILLE, INC. AND ITS SUBSIDIARIES ARE NOT-FOR-PROFIT FLORIDA CORPORATIONS THAT ARE EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO TAX PROVISIONS HAVE BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE COMPANY ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CODIFICATION ("FASB ASC") 740 INCOME TAXES. FASB ASC 740 REQUIRES A TWO-STEP APPROACH TO EVALUATE TAX POSITIONS AND DETERMINE IF THEY SHOULD BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE TWO-STEP APPROACH INVOLVES RECOGNIZING ANY TAX POSITIONS THAT ARE MORE LIKELY THAN NOT TO OCCUR AND THEN MEASURING THOSE POSITIONS TO DETERMINE IF THEY ARE RECOGNIZABLE IN THE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT REGULARLY REVIEWS AND ANALYZES ALL TAX POSITIONS AND HAS DETERMINED THAT NO UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION HAVE OCCURRED. THE COMPANY IS NO LONGER SUBJECT TO EXAMAINATION BY THE INTERNAL REVENUE SERVICE FOR THE YEARS ENDING BEFORE JUNE 30, 2011.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN JULY 2010, MCDUFF ENTERED INTO A NEW MARKETS TAX CREDIT ("NMTC") TRANSACTION TO FINANCE PROPERTY RENOVATIONS. THE NMTC PROGRAM IS ADMINISTERED BY THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND OF THE UNITED STATES DEPARTMENT OF TREASURY AND IS INTENDED TO CREATE NEW OR INCREASED INVESTMENTS INTO OPERATING BUSINESSES AND REAL ESTATE PROJECTS LOCATED IN LOW-INCOME COMMUNITIES. MCDUFF WAS FORMED TO ACCOMODATE THIS TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION HAS ONE MEMBER, KIPP JACKSONVILLE, INC. (EIN: 26-4046741), A FL NON-PROFIT CORPORATION WITH TAX-EXEMPT STATUS UNDER IRC SECTION 501 (C)3.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE SOLE MEMBER OF THE CORPORATION, KIPP JACKSONVILLE, INC., ELECTS THE BOARD OF DIRECTORS AND HAS THE POWER TO REMOVE ONE OR MORE DIRECTORS WITH OR WITHOUT CAUSE, PROVIDED THAT: A) THE NOTICE OF THE MEETING AT WHICH REMOVAL IS CONSIDERED STATES THE SPECIFIC DIRECTORS SOUGHT TO BE REMOVED; AND B) A SEPARATE VOTE IS CONDUCTED FOR EACH DIRECTOR SOUGHT TO BE REMOVED. ANY VACANCY CREATED BY SUCH REMOVAL SHALL BE FILLED BY THE MEMBER. HOWEVER, THE PROPERTY, AFFAIRS AND BUSINESS OF THE CORPORATION SHALL BE MANAGED BY ITS BOARD OF DIRECTORS AND NOT BY THE SOLE MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A DRAFT COPY OF THE RETURN IS PROVIDED TO THE BOARD PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AN INTERESTED PERSON MAY PRESENT THE ISSUE TO THE GOVERNING BOARD AND THEN WILL ABSTAIN FROM ANY VOTE ON THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine11KIPP JACKS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine20ONVILLE INC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10KIPP JACKSONVILLE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine11JACKSONVILLE ALLIANCE FOR KIPP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine12KIPP FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine20SCHOOLS INC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2SCHOOL
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt111A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt27
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine101440 NORTH MCDUFF AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine11ONE INDEPENDENT DR 1600
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine12135 MAIN STREET STE 1700
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0JACKSONVILLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City1JACKSONVILLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City2SAN FRANCISCO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State0FL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State1FL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State2CA
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode132202
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode294105
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IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0true
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt025898355
IRS990/TotalAssetsEOYAmt025589588
IRS990/TotalAssetsGrp/BOYAmt025898355
IRS990/TotalAssetsGrp/EOYAmt025589588
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt00
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt026167750
IRS990/TotalLiabilitiesEOYAmt026167750
IRS990/TotalLiabilitiesGrp/BOYAmt026167750
IRS990/TotalLiabilitiesGrp/EOYAmt026167750
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-269395
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-578162
IRS990/TotalRevenueGrp/ExclusionAmt01004
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-309771
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-308767
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt025898355
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt025589588
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-269395
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-578162
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101440 N MCDUFF AVENUE NORTH
IRS990/USAddress/City0JACKSONVILLE
IRS990/USAddress/State0FL
IRS990/USAddress/ZIPCode032254
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RYAN SCHWARTZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09046836643
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-03-01
ReturnHeader/Filer/BusinessName/BusinessNameLine10MCDUFF QALICB INC
ReturnHeader/Filer/BusinessNameControlTxt0MCDU
ReturnHeader/Filer/EIN0273004832
ReturnHeader/Filer/PhoneNum09046836643
ReturnHeader/Filer/USAddress/AddressLine101440 N MCDUFF AVENUE
ReturnHeader/Filer/USAddress/City0JACKSONVILLE
ReturnHeader/Filer/USAddress/State0FL
ReturnHeader/Filer/USAddress/ZIPCode032254
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0591152714
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10BERMAN HOPKINS WRIGHT LAHAM CPAS & ASSOC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine108035 SPYGLASS HILL RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0MELBOURNE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode032940
ReturnHeader/PreparerPersonGrp/PhoneNum03217572020
ReturnHeader/PreparerPersonGrp/PreparationDt02015-04-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES S LAHAM
ReturnHeader/ReturnTs02015-05-07T11:45:23-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$25,589,588
Liabilities
$26,167,750
Net assets
-$578,162
Revenue
-$308,767
Expenses
$0
Net income
-$308,767
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.04$0.07$0.11
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.8$26.1$4.28$2.96$0.00$2.96
2016Detailed filing. Detailed filing data is available for this year.$25.2$26.5$1.32$0.44$0.00$0.44
2015Detailed filing. Detailed filing data is available for this year.$25.3$26.2$0.88$0.30$0.00$0.30
2014Detailed filing. Detailed filing data is available for this year.$25.6$26.2$0.58$0.31$0.00$0.31
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.9$26.2$0.27$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.1$26.2$0.07$0.00