Civic Intelligence

CIVIC Ri Central Falls Charter I LLC

EIN 30-0766210 • 501(c)3 • New York, NY

Profile

The corporation is a 501(c)(3) corporation formed for the purpose of furthering the charitable purposes of civic builders, inc., a 501(c)(3) organization that provides turn-key solutions for charter school real estate needs. Specifically, this corporation was formed to purchase land, secure financing, construct, hold title to, lease and then sell the high school building located at 15 jones street, cumberland, ri to ri mayoral academy (sm) blackstone valley.

180 Varick Street - Suite 1414New York, NY 10014

civicbuilders.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2019

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

95th percentile

73%

Higher net margin than 95% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

91st percentile

$525,747

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 40.6% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

81st percentile

36%

Faster revenue growth than 81% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Down

$0

Down $15,192,328 (-100%) from 2018

Liabilities

Down

$0

Down $10,117,976 (-100%) from 2018

Net Assets

Down

$0

Down $5,074,352 (-100%) from 2018

Revenue

Up

$1,293,558

Up $343,558 (+36%) from 2018

Expenses

Down

$345,948

Down $594,118 (-63%) from 2018

Net Income

Up

$947,610

Up $937,676 (+9439%) from 2018

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2017: $13,859,918Liabilities 2017: $8,660,341Net Assets 2017: $5,199,5772017Assets 2018: $15,192,328Liabilities 2018: $10,117,976Net Assets 2018: $5,074,3522018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2019

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2017: $0Expenses 2017: $11,506Net Income 2017: -$11,5062017Revenue 2018: $950,000Expenses 2018: $940,066Net Income 2018: $9,9342018Revenue 2019: $1,293,558Expenses 2019: $345,948Net Income 2019: $947,6102019

Highlighted filing

2019

Revenue$1,293,558
Expenses$345,948
Net Income$947,610

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 29, 2020
Return Version
2019v5.1
Gross Receipts
$15,982,221
Mission and Program Overview

Mission

The corporation is a 501(c)(3) corporation formed for the purpose of furthering the charitable purposes of civic builders, inc., a 501(c)(3) organization that provides turn-key solutions for charter school real estate needs. Specifically, this corporation was formed to purchase land, secure financing, construct, hold title to, lease and then sell the high school building located at 15 jones street, cumberland, ri to ri mayoral academy (sm) blackstone valley.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,424,936$0▼ $14,424,936
Savings and Temporary Cash Investments$440,777$0▼ $440,777
Cash and Non-Interest-Bearing Accounts$318,539$0▼ $318,539
Prepaid Expenses and Deferred Charges$7,348$0▼ $7,348
Accounts Receivable$728$0▼ $728
Total Assets$15,192,328$0▼ $15,192,328
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,556,237--
Other Liabilities$539,280$0▼ $539,280
Accounts Payable and Accrued Expenses$22,459--
Total Liabilities$10,117,976$0▼ $10,117,976
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,074,352$0▼ $5,074,352
Total Net Assets Fund Balance$5,074,352$0▼ $5,074,352
Total Liabilities and Net Assets / Fund Balance$15,192,328$0▼ $15,192,328
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brahm CramerChairman
David LooVice Chair/treasurer
Anne TirschwellBoard Member
Courtney HallBoard Member
David J SweenyBoard Member
Eben EllertsonBoard Member
Jennifer HutterBoard Member
Vipul TandonBoard Member
David UmanskyCEO
Mary CorcoranSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$312,576
Investment Income
$980,982
Other Revenue
$0
Change in Net Assets
$947,610

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,293,558
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$98,503
Total Revenue per Audited Statements
$1,392,061
Total Revenue per Form 990
$1,293,558
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$345,948
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
Interest$173,475--$173,475
Depreciation Depletion$145,577--$145,577
Fees for Services Management$12,503--$12,503
Fees for Services Accounting-$10,148-$10,148
Insurance$3,473--$3,473
Fees for Services Legal$395--$395
Office Expenses-$377-$377
Total Functional Expenses$335,423$10,525$0$345,948

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$345,948
Total Expenses per Audited Statements$345,948
Total Expenses per Form 990$345,948
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
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 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

Governance Explanations

Form 990, Part VI, Section A, Line 8B

The organization's board of directors does not have subcommittees.

Form 990, Part VI, Section B, Line 11B

An electronic draft of the 990 is e-mailed to the board for review and comment.

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

The conflict of interest questionnaire is completed at the last meeting of the board each calendar year.

Form 990, Part VI, Section B, Line 15

Neither directors nor officers of the organization are compensated. Also, the organization does not have any employees.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy and financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
Civic Ri Central Falls Charter I LLC
EIN
30-0766210
Phone
2125717260
Address
180 VARICK STREET - SUITE 1414, NEW YORK, NY 10014

Signing Officer

Name
David Umansky
Title
Chief Executive Officer
Phone
2125717260
Signed
2020-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Umansky
Formed
2013
Legal Domicile
Ri
Voting Board Members
8
Independent Board Members
7
Employees
0
Volunteers
9

Preparer

Firm
Lutz and Carr Cpas Llp
Address
551 FIFTH AVENUE SUITE 400, NEW YORK, NY 10176
Preparer
Chris Bellando
Phone
2126972299
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

The school building located at 15 jones street, cumberland, ri was sold to the leasehold tenant, ri mayoral academy (sm) blackstone valley in april, 2019.

FORM 990, PART XI, LINE 9:

Investment returned to civic ri pri fund, llc -5,049,461. Distribution to civic ri pri fund, llc -1,071,004.

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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0043635313
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0CIVIC BUILDERS INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0345948
IRS990ScheduleD/NetUnrealizedGainsInvstAmt098503
IRS990ScheduleD/RevenueNotReportedAmt098503
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01293558
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0345948
IRS990ScheduleD/TotalRevenuePerForm990Amt01293558
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01392061
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0345948
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt0170000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0317288
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt011200
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt027259
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DAVID UMANSKY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0525747
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0SALE OF REAL ESTATE
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1CASH DISTRIBUTION
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2RETURN OF INVESTMENT
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0RHODE ISLAND MAYORAL ACADEMY (SM) BLACKSTONE VALLEY
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt1CIVIC RI PRI FUND
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt2CIVIC RI PRI FUND
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02019-04-26
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12019-04-26
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt22019-04-26
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0270617933
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt015389207
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt11071004
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt25049461
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501(C)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt1LLC
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt2LLC
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt1FMV
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt2FMV
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0291 BROAD STREET
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt1180 VARICK STREET SUITE 1414
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt2180 VARICK STREET SUITE 1414
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0CUMBERLAND
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm1NEW YORK
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm2NEW YORK
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0RI
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd1NY
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd2NY
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd002864
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd110014
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd210014
IRS990ScheduleN/EmployeeOfSuccessor2Ind00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/OwnerOfSuccessor2Ind00
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensation2Ind00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL BUILDING LOCATED AT 15 JONES STREET, CUMBERLAND, RI WAS SOLD TO THE LEASEHOLD TENANT, RI MAYORAL ACADEMY (SM) BLACKSTONE VALLEY IN APRIL, 2019.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S BOARD OF DIRECTORS DOES NOT HAVE SUBCOMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AN ELECTRONIC DRAFT OF THE 990 IS E-MAILED TO THE BOARD FOR REVIEW AND COMMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST QUESTIONNAIRE IS COMPLETED AT THE LAST MEETING OF THE BOARD EACH CALENDAR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NEITHER DIRECTORS NOR OFFICERS OF THE ORGANIZATION ARE COMPENSATED. ALSO, THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6INVESTMENT RETURNED TO CIVIC RI PRI FUND, LLC -5,049,461. DISTRIBUTION TO CIVIC RI PRI FUND, LLC -1,071,004.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd40
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd50
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd60
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd70
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd4N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd5N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd6N/A

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