Civic Intelligence

Woonasquatucket Valley Community Build Inc.

990 • Fiscal year 2021 • EIN 32-0015513

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 08, 2022

Refreshing map…

27 Sims AvenueProvidence, RI 02909

(401) 273-7101

Siviq Scores

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

Liabilities / Assets

59th percentile

0.12x

Higher debt load relative to assets than 59% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

77th percentile

0.42x

Higher debt load relative to revenue than 77% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

15th percentile

-10%

Higher net margin than 15% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

21st percentile

-2.0%

Faster asset growth than 21% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

17th percentile

-15%

Faster revenue growth than 17% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$4,368,113

Down $87,060 (-2.0%) from 2020

Net Assets

Down

$3,825,391

Down $122,825 (-3.1%) from 2020

Liabilities

Up

$542,722

Up $35,765 (+7.1%) from 2020

Revenue

Down

$1,277,376

Down $217,400 (-15%) from 2020

Expenses

Up

$1,409,181

Up $207,523 (+17%) from 2020

Net Income

Down

-$131,805

Down $424,923 (-145%) from 2020

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $1,675,682Liabilities 2010: $590,486Net Assets 2010: $1,085,1962010Assets 2011: $1,726,013Liabilities 2011: $466,976Net Assets 2011: $1,259,0372011Assets 2012: $1,748,406Liabilities 2012: $407,886Net Assets 2012: $1,340,5202012Assets 2013: $1,784,836Liabilities 2013: $597,833Net Assets 2013: $1,187,0032013Assets 2014: $1,849,774Liabilities 2014: $605,627Net Assets 2014: $1,244,1472014Assets 2015: $1,894,069Liabilities 2015: $523,985Net Assets 2015: $1,370,0842015Assets 2016: $2,113,962Liabilities 2016: $520,312Net Assets 2016: $1,593,6502016Assets 2017: $2,831,285Liabilities 2017: $583,593Net Assets 2017: $2,247,6922017Assets 2018: $3,266,776Liabilities 2018: $444,512Net Assets 2018: $2,822,2642018Assets 2019: $4,249,352Liabilities 2019: $611,396Net Assets 2019: $3,637,9562019Assets 2020: $4,455,173Liabilities 2020: $506,957Net Assets 2020: $3,948,2162020Assets 2021: $4,368,113Liabilities 2021: $542,722Net Assets 2021: $3,825,3912021Assets 2022: $4,523,665Liabilities 2022: $782,790Net Assets 2022: $3,740,8752022Assets 2023: $4,262,116Liabilities 2023: $750,139Net Assets 2023: $3,511,9772023Assets 2024: $4,009,294Liabilities 2024: $821,046Net Assets 2024: $3,188,2482024

Highlighted filing

2021

Assets$4,368,113
Liabilities$542,722
Net Assets$3,825,391

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $723,2672010Expenses 2011: $521,8502011Expenses 2012: $606,0132012Revenue 2013: $476,567Expenses 2013: $630,084Net Income 2013: -$153,5172013Revenue 2014: $604,348Expenses 2014: $547,279Net Income 2014: $57,0692014Revenue 2015: $655,959Expenses 2015: $530,607Net Income 2015: $125,3522015Revenue 2016: $1,041,890Expenses 2016: $812,981Net Income 2016: $228,9092016Revenue 2017: $1,652,316Expenses 2017: $1,005,625Net Income 2017: $646,6912017Revenue 2018: $1,723,435Expenses 2018: $1,120,467Net Income 2018: $602,9682018Revenue 2019: $1,893,464Expenses 2019: $1,107,987Net Income 2019: $785,4772019Revenue 2020: $1,494,776Expenses 2020: $1,201,658Net Income 2020: $293,1182020Revenue 2021: $1,277,376Expenses 2021: $1,409,181Net Income 2021: -$131,8052021Revenue 2022: $1,383,766Expenses 2022: $1,419,216Net Income 2022: -$35,4502022Revenue 2023: $1,278,045Expenses 2023: $1,532,637Net Income 2023: -$254,5922023Revenue 2024: $1,189,024Expenses 2024: $1,518,983Net Income 2024: -$329,9592024

Highlighted filing

2021

Revenue$1,277,376
Expenses$1,409,181
Net Income-$131,805
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 8, 2022
Return Version
2021v4.0
Gross Receipts
$1,358,742
Mission and Program Overview

Mission

The steel yard's historic campus is a platform for professional artists, makers and the community to practice and learn the industrial arts. The organization fosters creative and economic opportunities, by providing workspace, tools, training and education, while forging lasting links to a local tradition of craftsmanship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,004,423$3,911,791▼ $92,632
Investments Other Securities$247,003$257,435▲ $10,432
Cash and Non-Interest-Bearing Accounts$149,469$142,439▼ $7,030
Accounts Receivable$41,509$46,173▲ $4,664
Prepaid Expenses and Deferred Charges$10,114$9,102▼ $1,012
Intangible Assets$2,655$1,173▼ $1,482
Total Assets$4,455,173$4,368,113▼ $87,060
Liabilities
Mortgage Notes Payable Secured by Investment Property$312,692$296,963▼ $15,729
Unsecured Notes Loans Payable-$175,095-
Deferred Revenue$44,504$46,050▲ $1,546
Accounts Payable and Accrued Expenses$29,911$20,564▼ $9,347
Other Liabilities$119,850$4,050▼ $115,800
Total Liabilities$506,957$542,722▲ $35,765
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,591,083$3,441,011▼ $150,072
Net Assets With Donor Restrictions$357,133$384,380▲ $27,247
Total Net Assets Fund Balance$3,948,216$3,825,391▼ $122,825
Total Liabilities and Net Assets / Fund Balance$4,455,173$4,368,113▼ $87,060

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,708,378$379,102$3,087,480
Land$1,163,400-$1,163,400
Equipment$38,605$157,946$196,551
Other Land Buildings$1,408$39,752$41,160
Other Securities$257,435--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$247,003-▲ $22,906$12,474$257,435
2020$215,978-▲ $31,025-$247,003
2019$186,954-▲ $37,822$8,798$215,978
2018$104,305$101,253▼ $15,412$3,192$186,954
2017$93,586-▲ $15,719$5,000$104,305
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jennifer CarnevaleChair
Colin MurphyBoard Member
Damian EwensBoard Member
Danika NotarBoard Member
Delia Rodriguez-masjoanBoard Member
Karen HarrisBoard Member
Nichole Rustin-paschal Phd JdBoard Member
Rupa DattaBoard Member
Taylor JacksonBoard Member
Frank F Previti CPATreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$780,284
Program Service Revenue
$455,330
Investment Income
$17,545
Other Revenue
$24,217
All Other Contributions
$497,666
Change in Net Assets
$-131,805

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded3$76,306Fair Market Value (FMV)
Other Non Cash Contri Table8$35,139Fair Market Value (FMV)
Total Noncash Contributions11$111,445-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,277,376
Revenue Not Reported on Form 990
$8,980
Total Revenue per Audited Statements
$1,286,356
Total Revenue per Form 990
$1,277,376
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$765,944
Salaries, Compensation, and Employee Benefits$638,912
Total Fundraising Expense$207,761
Grants and Similar Amounts Paid$4,325
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$256,122$116,419$93,135$465,676
Depreciation Depletion$74,726$33,971$27,170$135,867
All Other Expenses$71,709$15,574$12,460$99,743
Occupancy$49,209$22,369$17,895$89,473
Current Officers, Directors, Trustees, and Key Employees$44,846$20,384$16,308$81,538
Payroll Taxes$26,022$11,828$9,463$47,313
Other Employee Benefits$24,412$11,096$8,877$44,385
Fees for Services Accounting$20,690$9,405$7,524$37,619
Other Expenses$35,139--$35,139
Insurance$17,087$7,767$6,213$31,067
Interest$11,663$5,302$4,241$21,206
Fees for Services Other$5,793$2,633$2,107$10,533
Office Expenses$5,439$2,473$1,978$9,890
Grants to Domestic Individuals$4,325--$4,325
Travel$945$430$344$1,719
Advertising$450--$450
Conferences and Meetings$125$57$46$228
Total Functional Expenses$941,712$259,708$207,761$1,409,181

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,409,181
Total Expenses per Audited Statements$1,409,181
Total Expenses per Form 990$1,409,181
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$660
Fundraising Direct Expenses$71
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
Other Liabilities$4,050
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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

No review was or will be conducted.

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

The conflict of interest policy is enforced through the bylaws and reminded by chairperson and directors

Form 990, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Woonasquatucket Valley Community
EIN
32-0015513
Phone
4012737101
Address
27 SIMS AVENUE, PROVIDENCE, RI 02909
Doing Business As
The Steel Yard

Signing Officer

Name
Howie Sneider
Title
Executive Director
Phone
4012737101
Signed
2022-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Howie Sneider
Formed
2002
Legal Domicile
Ri
Voting Board Members
11
Independent Board Members
10
Employees
18
Volunteers
75

Preparer

Firm
Wadovick & Company
Address
1300 DIVISION RD STE 104, WEST WARWICK, RI 02893
Preparer
Jeffrey D Wadovick CPA
Phone
4018234004
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

THE STEEL YARD

FORM 990 - ORGANIZATION'S MISSION

The steel yard's historic campus is a platform for professional artists, makers and the community to practice and learn the industrial arts. The organization fosters creative and economic opportunities, by providing workspace, tools, training and education, while forging lasting links to a local tradition of craftsmanship.

Form 990, Page 2, Part III, Line 4A

The steel yard is an award-winning a community-based industrial arts center, a manufacturer of custom and functional public-art, a craft school and shared studio, and a unique outdoor venue. The yard's 3.8 acre campus, located in providence's industrial valley, is a cultural asset that serves as a sponsor and catalyst for innovative approaches to urban revitalization, arts promotion, workforce development, and community growth. The organization is committed to providing excellent educational and professional programs in the industrial arts so that everyone can access the knowledge, skills and equipment needed to improve their community. Shared workspaces have equipment for welding, blacksmithing, jewelry, ceramics and the foundry arts, and open spaces are used as a neighborhood gathering place, for community events and cultural programming.

Financial Statement Notes

Schedule D, Page 3, Part X

The steel yard evaluates all significant tax positions as required by gaap. As of december 31, 2021, the steel yard does not believe that it has taken any tax positions that would require the recording of any additional tax liability nor does it believe that there are any realized tax benefits that would either increase or decrease within the next twelve months. The steel yards income tax returns are subject to examination by the appropriate taxing jurisdictions. As of december 31, 2021, the steel yards income tax returns generally remain open for examination for three years from the date with each taxing jurisdiction.

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.01$0.82$3.19$1.19$1.52$0.33
2023Detailed filing. Detailed filing data is available for this year.$4.26$0.75$3.51$1.28$1.53$0.25
2022Detailed filing. Detailed filing data is available for this year.$4.52$0.78$3.74$1.38$1.42$0.04
2021Detailed filing. Detailed filing data is available for this year.$4.37$0.54$3.83$1.28$1.41$0.13
2020Detailed filing. Detailed filing data is available for this year.$4.46$0.51$3.95$1.49$1.20$0.29
2019Detailed filing. Detailed filing data is available for this year.$4.25$0.61$3.64$1.89$1.11$0.79
2018Detailed filing. Detailed filing data is available for this year.$3.27$0.44$2.82$1.72$1.12$0.60
2017Detailed filing. Detailed filing data is available for this year.$2.83$0.58$2.25$1.65$1.01$0.65
2016Detailed filing. Detailed filing data is available for this year.$2.11$0.52$1.59$1.04$0.81$0.23
2015Detailed filing. Detailed filing data is available for this year.$1.89$0.52$1.37$0.66$0.53$0.13
2014Detailed filing. Detailed filing data is available for this year.$1.85$0.61$1.24$0.60$0.55$0.06
2013Detailed filing. Detailed filing data is available for this year.$1.78$0.60$1.19$0.48$0.63$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.75$0.41$1.34$0.61
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.73$0.47$1.26$0.52
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$0.59$1.09$0.72