Civic Intelligence

Franklinton Development Association

990 • Fiscal year 2016 • EIN 31-1380384

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 06, 2017

Organization Profile

Refreshing map…

1091 West Broad StreetColumbus, OH 43222

(614) 275-4988

Siviq Scores

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

Liabilities / Assets

86th percentile

0.79x

Higher debt load relative to assets than 86% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

95th percentile

7.38x

Higher debt load relative to revenue than 95% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

25th percentile

-5.9%

Higher net margin than 25% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

26th percentile

$65,231

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 10.3% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

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

Source year 2016

Revenue Growth

Score unavailable

No value available

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

Source year 2016

Balance Sheet
Liabilities / Assets86th percentile

Assets

$5,890,522

No earlier filing loaded for comparison.

Net Assets

$1,233,072

No earlier filing loaded for comparison.

Liabilities

$4,657,450

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin25th percentile

Revenue

$630,750

No earlier filing loaded for comparison.

Expenses

$667,906

No earlier filing loaded for comparison.

Net Income

-$37,156

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$15M$10M$5.0M$0Assets 2016: $5,890,522Liabilities 2016: $4,657,450Net Assets 2016: $1,233,0722016Assets 2017: $5,139,687Liabilities 2017: $4,132,751Net Assets 2017: $1,006,9362017Assets 2019: $5,883,313Liabilities 2019: $5,004,572Net Assets 2019: $878,7412019Assets 2020: $6,880,640Liabilities 2020: $5,858,036Net Assets 2020: $1,022,6042020Assets 2021: $6,206,426Liabilities 2021: $5,074,201Net Assets 2021: $1,132,2252021Assets 2022: $7,750,057Liabilities 2022: $6,581,534Net Assets 2022: $1,168,5232022Assets 2024: $10,235,583Liabilities 2024: $8,808,021Net Assets 2024: $1,427,5622024

Highlighted filing

2016

Assets$5,890,522
Liabilities$4,657,450
Net Assets$1,233,072
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2016: $630,750Expenses 2016: $667,906Net Income 2016: -$37,1562016Revenue 2017: $614,437Expenses 2017: $840,573Net Income 2017: -$226,1362017Revenue 2019: $512,341Expenses 2019: $503,211Net Income 2019: $9,1302019Revenue 2020: $594,698Expenses 2020: $451,664Net Income 2020: $143,0342020Revenue 2021: $565,534Expenses 2021: $457,710Net Income 2021: $107,8242021Revenue 2022: $576,639Expenses 2022: $534,002Net Income 2022: $42,6372022Revenue 2024: $950,248Expenses 2024: $846,391Net Income 2024: $103,8572024

Highlighted filing

2016

Revenue$630,750
Expenses$667,906
Net Income-$37,156
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 6, 2017
Return Version
2016v3.0
Gross Receipts
$812,500
Mission and Program Overview

Mission

The franklinton development association is a community development coporation formed to lead the revitalization of the franklinton neighborhhood of columubs ohio through the creation of affordable housing and commercial development for economic growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,490,784$3,205,269▼ $285,515
Land, Buildings, and Equipment, Net$1,087,595$1,115,364▲ $27,769
Cash and Non-Interest-Bearing Accounts$108,073$493,838▲ $385,765
Accounts Receivable$43,938$31,912▼ $12,026
Savings and Temporary Cash Investments$20,000$21,698▲ $1,698
Total Assets$5,160,668$5,890,522▲ $729,854
Other Assets Total$410,278$1,022,441▲ $612,163
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,806,651$4,553,919▲ $747,268
Accounts Payable and Accrued Expenses$65,456$103,531▲ $38,075
Deferred Revenue$18,333--
Total Liabilities$3,890,440$4,657,450▲ $767,010
Net Assets / Fund Balance
Unrestricted Net Assets$1,270,228$1,233,072▼ $37,156
Total Net Assets Fund Balance$1,270,228$1,233,072▼ $37,156
Total Liabilities and Net Assets / Fund Balance$5,160,668$5,890,522▲ $729,854

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,092,370$298,104$1,390,474
Land$21,911-$21,911
Equipment$1,083$4,216$5,299
Other Assets Org$195--
Compensation and Service Providers
Top Officer Pay26th percentile

Employees

NameTitleFull / Part TimeBaseTotal
John StoreyExecutive DiFT$65,231$65,231
James SweeneyExec Director (reFT$42,004$42,004

Board Members and Trustees

NameTitle
George MatteiPresident
Casey MccartyTrustee
Colin MorelockTrustee
Joy ChiversTrustee
Lauren EdwardsTrustee
Pauline EdwardsTrustee
Sister Barbara HahlTrustee
Tamara MaynardTrustee
Greg PhillipsSecretary
Chris OfatTreasurer
Bruce WarnerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$235,211
Program Service Revenue
$175,591
Investment Income
$219,948
Other Revenue
$0
All Other Contributions
$235,211
Change in Net Assets
$-37,156

Audited Revenue Reconciliation

Revenue per Audited Statements
$630,750
Total Revenue per Audited Statements
$630,750
Total Revenue per Form 990
$630,750
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$464,570
Salaries, Compensation, and Employee Benefits$200,336
Professional Fundraising Fees$3,000
Total Fundraising Expense$3,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$82,893$24,342-$107,235
Other Salaries and Wages$52,044$15,283-$67,327
Depreciation Depletion$64,761$2,523-$67,284
All Other Expenses$28,471$8,613-$37,084
Interest$3,578$16,642-$20,220
Fees for Services Accounting$14,690$4,312-$19,002
Occupancy$15,328--$15,328
Payroll Taxes$10,628$3,121-$13,749
Insurance$9,606$2,821-$12,427
Other Employee Benefits$9,298$2,727-$12,025
Other Expenses$8,113$11,000-$8,113
Fees for Services Legal$4,251$1,249-$5,500
Fees for Services Other$2,838$834-$3,672
Fees for Services Professional Fundraising--$3,000$3,000
Total Functional Expenses$571,439$93,467$3,000$667,906

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$667,906
Total Expenses per Audited Statements$667,906
Total Expenses per Form 990$667,906
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$3,000
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
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The 990 tax return is reviewed by the board before filing.”

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

“Contracts, actions or transactions are void or voidable with respect to the corporation if the material facts as to the relationship of personal or financial interests of the director or officer is not disclosed.”

Form 990, Page 6, Part VI, Line 15A

“The compensation of the executive director is determined and approved by the board of directors and is subject to annual performance reveiw by the board. Requests for staff salary adjusments are made to the board by the executive director and are reveiwed and approved by the board of directors.”

Form 990, Page 6, Part VI, Line 15B

“Officers of the board are not compensated”

Form 990, Page 6, Part VI, Line 19

“Governing documents, policies, financial information and tax filings are made available to the public up0n request”

Form 990, Part VIII

“Ln 24a - the organization sold the columbus idea foundry in 2015. The organization financed part of this sales transaction for 875,000 note receivable with a 20 year term. In may 2017 the board of directors discounted the original idea foundry note receivable for a current cash payment of 575,000 resulting in a write down of 251,361.”

Filing and Contact Details

Filer

Filer Name
Franklinton Development Association
EIN
31-1380384
Phone
6142754988
Address
1091 WEST BROAD STREET, COLUMBUS, OH 43222

Signing Officer

Name
John Storey
Title
Executive Director
Phone
6142754988
Signed
2017-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Mattei
Formed
1993
Legal Domicile
Oh
Voting Board Members
11
Independent Board Members
11
Employees
4
Volunteers
15

Preparer

Firm
Mark P Murphy & Associates CPA
Address
1051 OLD HENDERSON RD STE A, COLUMBUS, OH 43220
Preparer
Mark P Murphy
Phone
6144593182
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The franklinton development association is a community development coporation formed to lead the revitalization of the franklinton neighborhhood of columubs ohio through the creation of affordable housing and commercial development for economic growth.”

Form 990, Page 1, Part I, Line 6

“Volunteers were utilized to survey neighborhood parcels for the loveland technology survey for database information.”

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IRS990/OtherEmployeeBenefitsGrp/TotalAmt012025
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IRS990/OtherExpensesGrp/Desc1REPAIRS
IRS990/OtherExpensesGrp/Desc2MARKETING
IRS990/OtherExpensesGrp/Desc3LAWN CARE PROGRAM
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IRS990/OtherExpensesGrp/ProgramServicesAmt113579
IRS990/OtherExpensesGrp/ProgramServicesAmt28113
IRS990/OtherExpensesGrp/TotalAmt0251361
IRS990/OtherExpensesGrp/TotalAmt113579
IRS990/OtherExpensesGrp/TotalAmt211000
IRS990/OtherExpensesGrp/TotalAmt38113
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt015283
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt052044
IRS990/OtherSalariesAndWagesGrp/TotalAmt067327
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt03490784
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IRS990/PayrollTaxesGrp/TotalAmt013749
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0GEORGE MATTEI
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0DEVELOPER FEES
IRS990/ProgramServiceRevenueGrp/Desc1RENTALS
IRS990/ProgramServiceRevenueGrp/Desc2MISC FOUNDRY SALE INTEREST
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IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDE LOW INCOME RENTAL HOUSING FOR QUALIFIED TENANTS
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt097610
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt063250
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0304363
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-998343
IRS990/PYOtherExpensesAmt0119614
IRS990/PYOtherRevenueAmt0-39579
IRS990/PYProgramServiceRevenueAmt0150326
IRS990/PYRevenuesLessExpensesAmt0-911777
IRS990/PYSalariesCompEmpBnftPaidAmt0181430
IRS990/PYTotalExpensesAmt0328544
IRS990/PYTotalProfFndrsngExpnsAmt027500
IRS990/PYTotalRevenueAmt0-583233
IRS990/ReconcilationRevenueExpnssAmt0-37156
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0347552
IRS990/SavingsAndTempCashInvstGrp/BOYAmt020000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt021698
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CONSULTING FEE 108,668 DEVELOPER FEES 463,382 OTHER 24,286
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0809248
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01390347
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0554694
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt072472
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt066755
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0319344
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0112341
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IRS990ScheduleA/OtherIncome170Grp/TotalAmt0596336
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt01092370
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0298104
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01390474
IRS990ScheduleD/EquipmentGrp/BookValueAmt01083
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04216
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05299
IRS990ScheduleD/ExpensesSubtotalAmt0667906
IRS990ScheduleD/LandGrp/BookValueAmt021911
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt021911
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01015075
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt14853
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt22318
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3195
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1PREPAID EXPENSES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2OTHER
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DEPOSITS
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt01115364
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01022441
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IRS990ScheduleD/TotalRevenuePerForm990Amt0630750
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FRANKLINTON DEVELOPMENT ASSOCIATION IS A COMMUNITY DEVELOPMENT COPORATION FORMED TO LEAD THE REVITALIZATION OF THE FRANKLINTON NEIGHBORHHOOD OF COLUMUBS OHIO THROUGH THE CREATION OF AFFORDABLE HOUSING AND COMMERCIAL DEVELOPMENT FOR ECONOMIC GROWTH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VOLUNTEERS WERE UTILIZED TO SURVEY NEIGHBORHOOD PARCELS FOR THE LOVELAND TECHNOLOGY SURVEY FOR DATABASE INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 TAX RETURN IS REVIEWED BY THE BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONTRACTS, ACTIONS OR TRANSACTIONS ARE VOID OR VOIDABLE WITH RESPECT TO THE CORPORATION IF THE MATERIAL FACTS AS TO THE RELATIONSHIP OF PERSONAL OR FINANCIAL INTERESTS OF THE DIRECTOR OR OFFICER IS NOT DISCLOSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS AND IS SUBJECT TO ANNUAL PERFORMANCE REVEIW BY THE BOARD. REQUESTS FOR STAFF SALARY ADJUSMENTS ARE MADE TO THE BOARD BY THE EXECUTIVE DIRECTOR AND ARE REVEIWED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OFFICERS OF THE BOARD ARE NOT COMPENSATED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, POLICIES, FINANCIAL INFORMATION AND TAX FILINGS ARE MADE AVAILABLE TO THE PUBLIC UP0N REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7LN 24A - THE ORGANIZATION SOLD THE COLUMBUS IDEA FOUNDRY IN 2015. THE ORGANIZATION FINANCED PART OF THIS SALES TRANSACTION FOR 875,000 NOTE RECEIVABLE WITH A 20 YEAR TERM. IN MAY 2017 THE BOARD OF DIRECTORS DISCOUNTED THE ORIGINAL IDEA FOUNDRY NOTE RECEIVABLE FOR A CURRENT CASH PAYMENT OF 575,000 RESULTING IN A WRITE DOWN OF 251,361.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VIII
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0FDA
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine2Txt0FRANKLINTON DEVELOPMENT ASSOCIATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0937 W BROAD LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt0346747

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,890,522
Liabilities
$4,657,450
Net assets
$1,233,072
Revenue
$630,750
Expenses
$667,906
Net income
-$37,156
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.2$8.81$1.43$0.95$0.85$0.10
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.75$6.58$1.17$0.58$0.53$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.21$5.07$1.13$0.57$0.46$0.11
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.88$5.86$1.02$0.59$0.45$0.14
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.88$5.00$0.88$0.51$0.50$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.14$4.13$1.01$0.61$0.84$0.23
2016Detailed filing. Detailed filing data is available for this year.$5.89$4.66$1.23$0.63$0.67$0.04