Civic Intelligence

Famicos Foundation Inc.

990 • Fiscal year 2017 • EIN 34-1053534

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 10, 2018

1325 Ansel RoadCleveland, OH 44106-1079

(216) 791-6476

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.39x

Higher debt load relative to assets than 62% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

88th percentile

2.46x

Higher debt load relative to revenue than 88% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

88th percentile

40%

Higher net margin than 88% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

29th percentile

$174,598

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

40th percentile

2.5%

Faster asset growth than 40% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

42nd percentile

2.6%

Faster revenue growth than 42% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Up

$48,732,213

Up $1,206,753 (+2.5%) from 2016

Net Assets

Up

$29,844,371

Up $3,127,826 (+12%) from 2016

Liabilities

Down

$18,887,842

Down $1,921,073 (-9.2%) from 2016

Revenue

Up

$7,676,278

Up $196,360 (+2.6%) from 2016

Expenses

Down

$4,624,264

Down $165,447 (-3.5%) from 2016

Net Income

Up

$3,052,014

Up $361,807 (+13%) from 2016

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2012: $40,689,875Liabilities 2012: $19,763,094Net Assets 2012: $20,926,7812012Assets 2013: $41,343,714Liabilities 2013: $19,816,940Net Assets 2013: $21,526,7742013Assets 2014: $44,044,913Liabilities 2014: $19,992,703Net Assets 2014: $24,052,2102014Assets 2015: $44,359,980Liabilities 2015: $20,396,197Net Assets 2015: $23,963,7832015Assets 2016: $47,525,460Liabilities 2016: $20,808,915Net Assets 2016: $26,716,5452016Assets 2017: $48,732,213Liabilities 2017: $18,887,842Net Assets 2017: $29,844,3712017Assets 2018: $48,651,666Liabilities 2018: $18,854,472Net Assets 2018: $29,797,1942018Assets 2019: $50,211,785Liabilities 2019: $19,589,041Net Assets 2019: $30,622,7442019Assets 2020: $52,558,357Liabilities 2020: $19,925,330Net Assets 2020: $32,633,0272020Assets 2021: $56,363,268Liabilities 2021: $19,608,764Net Assets 2021: $36,754,5042021Assets 2022: $56,405,008Liabilities 2022: $21,536,974Net Assets 2022: $34,868,0342022Assets 2023: $53,613,225Liabilities 2023: $21,345,920Net Assets 2023: $32,267,3052023Assets 2024: $52,192,643Liabilities 2024: $21,543,870Net Assets 2024: $30,648,7732024

Highlighted filing

2017

Assets$48,732,213
Liabilities$18,887,842
Net Assets$29,844,371

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2012: $4,519,9462012Revenue 2013: $7,131,887Expenses 2013: $4,871,779Net Income 2013: $2,260,1082013Revenue 2014: $7,465,754Expenses 2014: $4,940,318Net Income 2014: $2,525,4362014Revenue 2015: $5,030,644Expenses 2015: $5,100,646Net Income 2015: -$70,0022015Revenue 2016: $7,479,918Expenses 2016: $4,789,711Net Income 2016: $2,690,2072016Revenue 2017: $7,676,278Expenses 2017: $4,624,264Net Income 2017: $3,052,0142017Revenue 2018: $4,403,006Expenses 2018: $5,580,818Net Income 2018: -$1,177,8122018Revenue 2019: $6,359,364Expenses 2019: $5,733,447Net Income 2019: $625,9172019Revenue 2020: $10,831,924Expenses 2020: $9,008,010Net Income 2020: $1,823,9142020Revenue 2021: $13,331,115Expenses 2021: $9,511,458Net Income 2021: $3,819,6572021Revenue 2022: $8,009,815Expenses 2022: $9,896,285Net Income 2022: -$1,886,4702022Revenue 2023: $8,850,923Expenses 2023: $11,451,652Net Income 2023: -$2,600,7292023Revenue 2024: $9,588,376Expenses 2024: $11,206,908Net Income 2024: -$1,618,5322024

Highlighted filing

2017

Revenue$7,676,278
Expenses$4,624,264
Net Income$3,052,014
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 10, 2018
Return Version
2017v2.3
Gross Receipts
$7,676,278
Mission and Program Overview

Mission

To improve the quality of life in greater cleveland through neighborhood revitalization, affordable housing and integrated social services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$23,582,703$23,469,720▼ $112,983
Investments in Publicly Traded Securities$1,693,106$1,789,923▲ $96,817
Land, Buildings, and Equipment, Net$1,846,905$1,769,923▼ $76,982
Cash and Non-Interest-Bearing Accounts$669,075$950,233▲ $281,158
Accounts Receivable$1,057,985$692,577▼ $365,408
Pledges and Grants Receivable$97,971$280,534▲ $182,563
Savings and Temporary Cash Investments$463,111$16,078▼ $447,033
Prepaid Expenses and Deferred Charges$4,389$3,754▼ $635
Total Assets$47,525,460$48,732,213▲ $1,206,753
Other Assets Total$18,110,215$19,759,471▲ $1,649,256
Liabilities
Tax Exempt Bond Liabilities$16,934,735$15,675,458▼ $1,259,277
Other Liabilities$1,495,816$1,698,386▲ $202,570
Deferred Revenue$2,002,025$1,203,282▼ $798,743
Accounts Payable and Accrued Expenses$376,339$310,716▼ $65,623
Total Liabilities$20,808,915$18,887,842▼ $1,921,073
Net Assets / Fund Balance
Unrestricted Net Assets$26,183,401$29,173,381▲ $2,989,980
Temporarily Rstr Net Assets$533,144$670,990▲ $137,846
Total Net Assets Fund Balance$26,716,545$29,844,371▲ $3,127,826
Total Liabilities and Net Assets / Fund Balance$47,525,460$48,732,213▲ $1,206,753

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,686,750$954,871$2,641,621
Other Land Buildings$36,673$105,599$142,272
Land$46,500-$46,500
Other Assets Org$1,463--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John AnoliefoExecutive DiFT$152,738$21,860$174,598
John AnoliefoExecutive Director-$152,738$21,860$174,598
Joseph H Weiss JrTrustee-$12,000-$12,000

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
New Beginnings ConstructionHome Renovation986 YELLOWSTONE RD, Cleveland Heights, OH 44121$296,527
Kems Construction Co INCHome Renovation2614 GINGER WREN RD, Pepper Pike, OH 44124$178,615
The Deal GroupAcctg/consult'g266 STRATFORD DR, Broadview Heights, OH 44147$140,345
American Preservation BuildersHome Renovation1300 KEY TOWER 127 PUBLIC SQ, Cleveland, OH 44114$120,599
City ArchitectureArchitecture3636 EUCLID AVE 300, Cleveland, OH 44115$116,124
Revenue and Support

Revenue Composition

Contributions and Grants
$3,865,512
Program Service Revenue
$4,267,004
Investment Income
$-406,485
Other Revenue
$-49,753
All Other Contributions
$1,563,469
Change in Net Assets
$3,052,014

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,676,278
Revenue Not Reported on Form 990
$75,812
Total Revenue per Audited Statements
$7,752,090
Total Revenue per Form 990
$7,676,278
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,398,928
Salaries, Compensation, and Employee Benefits$2,225,336
Total Fundraising Expense$69,150
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,379,893$147,953$47,298$1,575,144
Other Employee Benefits$243,782$24,779-$268,561
Interest$208,027$201-$208,228
Current Officers, Directors, Trustees, and Key Employees-$186,598-$186,598
Fees for Services Accounting-$180,515-$180,515
Payroll Taxes$155,778$2,017$4,796$162,591
Fees for Services Other$133,767$23,606$2,587$159,960
All Other Expenses$87,842$53,026$12,985$153,853
Depreciation Depletion$89,723$13,774-$103,497
Office Expenses$20,091$49,453-$69,544
Occupancy$43,895$8,841$1,264$54,000
Other Expenses$14,420$29,798-$44,218
Fees for Service Investment Mgmnt Fees-$35,960-$35,960
Pension Plan Contributions$29,449$2,993-$32,442
Insurance$12,930$13,693-$26,623
Fees for Services Legal-$22,398-$22,398
Advertising$6,748$15,357$220$22,325
Travel$6,015$2,609-$8,624
Total Functional Expenses$3,727,031$828,083$69,150$4,624,264

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,624,264
Total Expenses per Audited Statements$4,624,264
Total Expenses per Form 990$4,624,264
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
Deferred Interest$1,684,886
Security Deposits$13,500
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
Yes
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 2

Joseph h. Weiss, jr. John j. Weiss trustee trustee family

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

The finance committee and the consultant controller of famicos review the annual return before it is filed.

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

The executive committee performs an annual review of the executive director and determines the position's compensation.

Form 990, Page 6, Part VI, Line 19

Appropriate information is made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Famicos Foundation
EIN
34-1053534
Phone
2167916476
Address
1325 ANSEL ROAD, CLEVELAND, OH 44106-1079

Signing Officer

Name
John Anoliefo
Title
Executive Director
Phone
2167916476
Signed
2018-04-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Anoliefo
Formed
1970
Legal Domicile
Oh
Voting Board Members
14
Independent Board Members
13
Employees
64
Volunteers
65

Preparer

Firm
Friedman Leavitt & Associates
Address
2193 SOUTH GREEN ROAD, CLEVELAND, OH 44121
Preparer
Howard N Kopit
Phone
2163826400
Supplemental Narrative

Additional Explanations

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

Services, we pride ourselves in developing affordable housing, especially the preservation of historic properties. In 2014 following the redrawing of city of cleveland ward boundaries and the demise of sister cdc, glenville development corporation that was serving glenville, famicos foundation took over the reign of serving the glenville neighborhood. In the same year, famicos foundation became a charter member of neighborworks america, a network of excellence, which makes additional resources available for the work in glenville and beyond. Famicos foundation is a state, county and city chdo and serves five counties in the cleveland area; cuyahoga, lake, geauga, portage, and medina counties, respectively. Our bylaws have been amended to allow business in these areas. In 2006, we developed a 106 affordable unit project in medina county in partnership with millennia housing management group of companies. In 2017, famicos and millennia in partnership acquired a 348 unit apartment community in portage county that has 233 affordable units. Attempts for other viable projects in the other counties have not yet materialized. As such, famicos foundation's board of directors (14 active members) are chosen from these four counties with the majority from cuyahoga county, and mainly city of cleveland. As a known affordable housing developer, famicos foundation owns and / or manages twenty two partnerships comprising seven hundred units of affordable housing for families, seniors and formerly chronically homeless individuals. As a contract manager, famicos manages another two hundred forty five affordable and market rate units that she does not own. In 2016, famicos acquired ownership interests in three partnerships in the city of cleveland to increase ownership of affordable units by 126 units. Famicos signature market rate homes are located on e. 105th street within a development called heritage lane. Heritage lane consists of thirteen historic former duplexes converted to single units and selling at 300,000.00 and above. All thirteen units are sold to owner occupants. Famicos most recent projects are the doan classroom apartments (13 million) and the university towers apartments (27, million). In 2016, famicos completed a substantial renovation of notre dame apartments using the 9% lihtc funding program (project costs of 10.6 million). Other famicos foundation programs include emergency home repairs for seniors, weatherization, heap, transportation for seniors living in famicos properties and in the glenville neighborhood, computer training, ged, after school tutorial and mentoring for the youth, eitc (the most productive site in the county four years in a row), urban agriculture/gardening, rain barrel, composting, recycling, community engagement, and more. In order to improve the quality of life for its residents, famicos foundation created famicos cares legal clinic in partnership with a local attorney, mr. James levin. The program strives to assist individuals with minor misdemeanor offenses through free expungement services. As of december 31, 2017, more than 200 residents of cuyahoga county have received assistance at no costs to them. This service allows individuals the opportunity to apply for and obtain a job that makes it possible for them to take care of themselves and their families. Famicos foundation is known for its ability to complete projects. As a result, famicos is among the original elite six cdcs to receive cleveland neighborhood progress large grants for the sll program and maintains that funding every year. Currently famicos is among nine cdcs currently receiving operating funding from cleveland neighborhood progress cnp) in the second year of a three year cycle. Since taking over the role as the cdc for glenville, famicos foundation embarked on developing a neighborhood revitalization plan, "myglenville" which was completed in january 2017 and adopted by the planning commission in july of 2017. During may 2017, the

Financial Statement Notes

Schedule D, Page 3, Part X

The organization has adopted the accounting guidance for uncertainty in income taxes. The organization's income tax filings are subject to audit by various taxing authorities. In evaluating its activities, the organization believes its position of tax-exempt status is current based on current facts & circumstances. The organization has assessed that there are no activities unrelated to its purpose and, therefore, no tax is to be recognized. It is the policy of the organization to include in operating expenses penalties & interest assessed by income taxing authorities. There are no penalties or interest included in operating expenses for the year ended december 31, 2017.

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IRS990/Desc0FAMICOS FOUNDATION IS ONE OF CLEVELAND'S OLDEST COMMUNITY DEVELOPMENT CORPORATIONS (CDC), FOUNDED IN 1969 BY SISTER HENRIETTA GORRES, SND SHORTLY AFTER THE HOUGH RIOTS AND INCORPORATED IN 1970. FAMICOS FOUNDATION IS CELEBRATING 48 YEARS OF EXISTENCE SERVING RESIDENTS OF CUYAHOGA COUNTY, ESPECIALLY CLEVELAND'S HOUGH AND GLENVILLE NEIGHBORHOODS. THE NAME FAMICOS COMES FROM FAMILY COOPERATIVES OR FAMILY CO-OPTORS REPRESENTING THE FAMILIES THAT CAME TOGETHER TO HELP SR. HENRIETTA DISTRIBUTE FOOD, CLOTHING AND SHELTER TO RESIDENTS OF HOUGH AT INCEPTION. FAMICOS HAS A STAFF CAPACITY OF 47 FULL TIME EMPLOYEES WITH MULTIPLE COMPETENCIES. WITH A MISSION OF IMPROVING THE QUALITY OF LIFE IN GREATER CLEVELAND THROUGH NEIGHBORHOOD REVITALIZATION, AFFORDABLE HOUSING AND INTEGRATED SOCIAL SERVICES, WE PRIDE OURSELVES IN DEVELOPING AFFORDABLE HOUSING, ESPECIALLY THE PRESERVATION OF HISTORIC PROPERTIES. IN 2014 FOLLOWING THE REDRAWING OF CITY OF CLEVELAND WARD BOUNDARIES AND THE DEMISE OF SISTER CDC, GLENVILLE DEVELOPMENT CORPORATION THAT WAS SERVING GLENVILLE, FAMICOS FOUNDATION TOOK OVER THE REIGN OF SERVING THE GLENVILLE NEIGHBORHOOD. IN THE SAME YEAR, FAMICOS FOUNDATION BECAME A CHARTER MEMBER OF NEIGHBORWORKS AMERICA, A NETWORK OF EXCELLENCE, WHICH MAKES ADDITIONAL RESOURCES AVAILABLE FOR THE WORK IN GLENVILLE AND BEYOND. FAMICOS FOUNDATION IS A STATE, COUNTY AND CITY CHDO AND SERVES FIVE COUNTIES IN THE CLEVELAND AREA; CUYAHOGA, LAKE, GEAUGA, PORTAGE, AND MEDINA COUNTIES, RESPECTIVELY. OUR BYLAWS HAVE BEEN AMENDED TO ALLOW BUSINESS IN THESE AREAS. IN 2006, WE DEVELOPED A 106 AFFORDABLE UNIT PROJECT IN MEDINA COUNTY IN PARTNERSHIP WITH MILLENNIA HOUSING MANAGEMENT GROUP OF COMPANIES. IN 2017, FAMICOS AND MILLENNIA IN PARTNERSHIP ACQUIRED A 348 UNIT APARTMENT COMMUNITY IN PORTAGE COUNTY THAT HAS 233 AFFORDABLE UNITS. ATTEMPTS FOR OTHER VIABLE PROJECTS IN THE OTHER COUNTIES HAVE NOT YET MATERIALIZED. AS SUCH, FAMICOS FOUNDATION'S BOARD OF DIRECTORS (14 ACTIVE MEMBERS) ARE CHOSEN FROM THESE FOUR COUNTIES WITH THE MAJORITY FROM CUYAHOGA COUNTY, AND MAINLY CITY OF CLEVELAND. AS A KNOWN AFFORDABLE HOUSING DEVELOPER, FAMICOS FOUNDATION OWNS AND / OR MANAGES TWENTY TWO PARTNERSHIPS COMPRISING SEVEN HUNDRED UNITS OF AFFORDABLE HOUSING FOR FAMILIES, SENIORS AND FORMERLY CHRONICALLY HOMELESS INDIVIDUALS. AS A CONTRACT MANAGER, FAMICOS MANAGES ANOTHER TWO HUNDRED FORTY FIVE AFFORDABLE AND MARKET RATE UNITS THAT SHE DOES NOT OWN. IN 2016, FAMICOS ACQUIRED OWNERSHIP INTERESTS IN THREE PARTNERSHIPS IN THE CITY OF CLEVELAND TO INCREASE OWNERSHIP OF AFFORDABLE UNITS BY 126 UNITS. FAMICOS SIGNATURE MARKET RATE HOMES ARE LOCATED ON E. 105TH STREET WITHIN A DEVELOPMENT CALLED HERITAGE LANE. HERITAGE LANE CONSISTS OF THIRTEEN HISTORIC FORMER DUPLEXES CONVERTED TO SINGLE UNITS AND SELLING AT 300,000.00 AND ABOVE. ALL THIRTEEN UNITS ARE SOLD TO OWNER OCCUPANTS. FAMICOS MOST RECENT PROJECTS ARE THE DOAN CLASSROOM APARTMENTS (13 MILLION) AND THE UNIVERSITY TOWERS APARTMENTS (27, MILLION). IN 2016, FAMICOS COMPLETED A SUBSTANTIAL RENOVATION OF NOTRE DAME APARTMENTS USING THE 9% LIHTC FUNDING PROGRAM (PROJECT COSTS OF 10.6 MILLION). OTHER FAMICOS FOUNDATION PROGRAMS INCLUDE EMERGENCY HOME REPAIRS FOR SENIORS, WEATHERIZATION, HEAP, TRANSPORTATION FOR SENIORS LIVING IN FAMICOS PROPERTIES AND IN THE GLENVILLE NEIGHBORHOOD, COMPUTER TRAINING, GED, AFTER SCHOOL TUTORIAL AND MENTORING FOR THE YOUTH, EITC (THE MOST PRODUCTIVE SITE IN THE COUNTY FOUR YEARS IN A ROW), URBAN AGRICULTURE/GARDENING, RAIN BARREL, COMPOSTING, RECYCLING, COMMUNITY ENGAGEMENT, AND MORE. IN ORDER TO IMPROVE THE QUALITY OF LIFE FOR ITS RESIDENTS, FAMICOS FOUNDATION CREATED FAMICOS CARES LEGAL CLINIC IN PARTNERSHIP WITH A LOCAL ATTORNEY, MR. JAMES LEVIN. THE PROGRAM STRIVES TO ASSIST INDIVIDUALS WITH MINOR MISDEMEANOR OFFENSES THROUGH FREE EXPUNGEMENT SERVICES. AS OF DECEMBER 31, 2017, MORE THAN 200 RESIDENTS OF CUYAHOGA COUNTY HAVE RECEIVED ASSISTANCE AT NO COSTS TO THEM. THIS SERVICE ALLOWS INDIVID
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