Civic Intelligence

Old Brooklyn Community Development Corporation

990 • Fiscal year 2018 • EIN 34-1177633

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 29, 2018

2339 Broadview RoadCleveland, OH 44109

(216) 459-1000

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.44x

Higher debt load relative to assets than 83% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

79th percentile

0.27x

Higher debt load relative to revenue than 79% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

47th percentile

2.4%

Higher net margin than 47% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

78th percentile

$72,924

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 7.9% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

76th percentile

17%

Faster asset growth than 76% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

68th percentile

16%

Faster revenue growth than 68% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Up

$555,980

Up $80,980 (+17%) from 2017

Net Assets

Up

$311,567

Up $21,707 (+7.5%) from 2017

Liabilities

Up

$244,413

Up $59,273 (+32%) from 2017

Revenue

Up

$922,152

Up $125,534 (+16%) from 2017

Expenses

Up

$900,445

Up $83,996 (+10%) from 2017

Net Income

Up

$21,707

Up $41,538 (+209%) from 2017

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $250,985Liabilities 2011: $93,330Net Assets 2011: $157,6552011Assets 2012: $333,422Liabilities 2012: $171,655Net Assets 2012: $161,7672012Assets 2013: $266,036Liabilities 2013: $102,970Net Assets 2013: $163,0662013Assets 2014: $444,143Liabilities 2014: $181,129Net Assets 2014: $263,0142014Assets 2015: $416,692Liabilities 2015: $130,876Net Assets 2015: $285,8162015Assets 2016: $377,564Liabilities 2016: $67,873Net Assets 2016: $309,6912016Assets 2017: $475,000Liabilities 2017: $185,140Net Assets 2017: $289,8602017Assets 2018: $555,980Liabilities 2018: $244,413Net Assets 2018: $311,5672018Assets 2019: $1,163,091Liabilities 2019: $776,336Net Assets 2019: $386,7552019Assets 2020: $1,510,217Liabilities 2020: $964,944Net Assets 2020: $545,2732020Assets 2021: $2,466,436Liabilities 2021: $1,968,804Net Assets 2021: $497,6322021Assets 2022: $2,189,165Liabilities 2022: $1,620,875Net Assets 2022: $568,2902022Assets 2025: $3,811,920Liabilities 2025: $1,202,813Net Assets 2025: $2,609,1072025

Highlighted filing

2018

Assets$555,980
Liabilities$244,413
Net Assets$311,567

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $745,0402011Expenses 2012: $745,1692012Expenses 2013: $745,3292013Revenue 2014: $712,929Expenses 2014: $612,981Net Income 2014: $99,9482014Revenue 2015: $691,955Expenses 2015: $669,153Net Income 2015: $22,8022015Revenue 2016: $818,765Expenses 2016: $794,890Net Income 2016: $23,8752016Revenue 2017: $796,618Expenses 2017: $816,449Net Income 2017: -$19,8312017Revenue 2018: $922,152Expenses 2018: $900,445Net Income 2018: $21,7072018Revenue 2019: $1,005,311Expenses 2019: $930,123Net Income 2019: $75,1882019Revenue 2020: $1,196,973Expenses 2020: $1,023,932Net Income 2020: $173,0412020Revenue 2021: $1,217,909Expenses 2021: $1,265,550Net Income 2021: -$47,6412021Revenue 2022: $1,368,369Expenses 2022: $1,297,711Net Income 2022: $70,6582022Revenue 2025: $3,396,563Expenses 2025: $1,597,358Net Income 2025: $1,799,2052025

Highlighted filing

2018

Revenue$922,152
Expenses$900,445
Net Income$21,707
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 29, 2018
Return Version
2017v2.3
Gross Receipts
$922,152
Mission and Program Overview

Mission

The mission of obcdc is to grow old brooklyn through empowered partnerships, leadership, programming, and advocacy.

The mission of obcdc is to develop and revitalize the community by uniting and empowering residents, business leaders and government around plans and initiatives that achieve social, economic and civic improvement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$148,581$173,683▲ $25,102
Land, Buildings, and Equipment, Net$104,812$136,926▲ $32,114
Cash and Non-Interest-Bearing Accounts$66,272$71,375▲ $5,103
Accounts Receivable$21,659$23,108▲ $1,449
Prepaid Expenses and Deferred Charges$10,693$5,594▼ $5,099
Savings and Temporary Cash Investments$360$210▼ $150
Total Assets$475,000$555,980▲ $80,980
Other Assets Total$122,623$145,084▲ $22,461
Liabilities
Mortgage Notes Payable Secured by Investment Property$112,496$133,339▲ $20,843
Deferred Revenue-$50,000-
Other Liabilities$21,863$32,859▲ $10,996
Accounts Payable and Accrued Expenses$49,818$28,215▼ $21,603
Unsecured Notes Loans Payable$963--
Total Liabilities$185,140$244,413▲ $59,273
Net Assets / Fund Balance
Unrestricted Net Assets$240,502$275,489▲ $34,987
Temporarily Rstr Net Assets$49,358$36,078▼ $13,280
Total Net Assets Fund Balance$289,860$311,567▲ $21,707
Total Liabilities and Net Assets / Fund Balance$475,000$555,980▲ $80,980

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$127,795-$127,795
Equipment$5,387$30,041$35,428
Other Land Buildings$3,744$12,897$16,641
Other Assets Org$1,000--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Jeffrey VerespejExecutive Di$72,924$72,924

Board Members and Trustees

NameTitle
David MartinPresident
David MargoliusDirector
John JenkinsDirector
Mike CaparanisDirector
Reggie ClarkDirector
Richey PiiparinenDirector
Sean McgraneDirector
Tiffany SedlacekDirector
Fr Doug BrownSecretary
Book ChrobakTerm Expired
Christina KovachTerm Expired
John YoungTerm Expired
Laura PonikvarTerm Expired
David RobinsonTreasurer
Kristen WilsonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$782,261
Program Service Revenue
$97,323
Investment Income
$0
Other Revenue
$42,568
All Other Contributions
$218,392
Change in Net Assets
$21,707

Audited Revenue Reconciliation

Revenue per Audited Statements
$922,152
Total Revenue per Audited Statements
$922,152
Total Revenue per Form 990
$922,152
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$575,404
Other Expenses$325,041
Total Fundraising Expense$52,880
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$340,028$22,898$25,750$388,676
Current Officers, Directors, Trustees, and Key Employees$69,278$3,646-$72,924
Other Employee Benefits$62,356$4,044$3,923$70,323
Office Expenses$44,483$4,693$689$49,865
Fees for Services Accounting-$48,251-$48,251
Payroll Taxes$33,215$2,154$2,090$37,459
Conferences and Meetings$5,345$5,756$15,205$26,306
Occupancy$20,068$1,302$1,262$22,632
Advertising$8,175$1,314$2,826$12,315
Pension Plan Contributions$5,340$346$336$6,022
Depreciation Depletion$4,586$297$289$5,172
Interest-$3,422-$3,422
Travel$2,481$161$156$2,798
Insurance$2,327$151$146$2,624
Other Expenses$1,224$6,390$208$1,224
All Other Expenses$1,216--$1,216
Total Functional Expenses$742,740$104,825$52,880$900,445

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$900,445
Total Expenses per Audited Statements$900,445
Total Expenses per Form 990$900,445
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
Payables-trust Funds (note 3)$21,618
Credit Card (note 9)$9,631
Accrued Real Estate Tax$1,610
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The finance committee reviewed the federal form 990 prior to filing.

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

At the first board meeting each year, each board member is asked to read the organization's conflict of interest policy and then sign a statement describing conflicts they may have, if any.

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

The executive director's salary is recommended by the executive committee and approved by the entire board of directors. The executive committee uses various sources such as other organizations' federal 990, industry standard and the limited finances of the organization.

Form 990, Page 6, Part VI, Line 19

Consistent with the requirements of section 6104(d) of the irc and the regulations thereunder, copies of the organization's form 990 and governing documents shall be made available upon request, in a timely manner, and subject to the charges permitted by law to any individuals who request it.

Filing and Contact Details

Filer

Filer Name
Old Brooklyn Community Development
EIN
34-1177633
Phone
2164591000
Address
2339 BROADVIEW ROAD, CLEVELAND, OH 44109

Signing Officer

Name
Jeffrey Verespej
Title
Executive Director
Phone
2164591000
Signed
2018-11-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Verespej
Formed
1975
Legal Domicile
Oh
Voting Board Members
11
Independent Board Members
11
Employees
14
Volunteers
500

Preparer

Firm
Koester Disalvo and Fried
Address
5587 TURNEY ROAD, GARFIELD HTS, OH 44125
Preparer
Kc Koester
Phone
2164757844
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Volunteers help old brooklyn community development corporation in numerous ways. Beyond the work of the board of directors, volunteers directly assist obcdc with numerous committees. These committees meet on a monthly basis to plan programs, direct policy, and bring resources to the community. The committees include but are not limited to impact on housing and economic development, marketing and special events, community health and education, greenspace, and fundraising. In addition, obcdc volunteers lead community groups that have tremendous impact on the neighborhood. These include neighborhood block clubs, interest based groups, community gardens, and school or youth based programs. These volunteers put in countless hours to maintain community assets, build programming, and support other neighbors. Lastly, hundreds of volunteers assist in one-time or one-program needs. These include but are not limited to summer events such as a farmers market, movie night, and a street festival but also home repairs and yardwork for low incomes seniors in old brooklyn.

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

Property owners to voluntarily comply with the cleveland building code, monitors properties through the cleveland housing court, provides rain barrels and street trees to homeowners, and organizes homeowners around safety. Obcdc purchases and rehabilitates vacant and substandard housing for sale to owner occupants. Obcdc hosts hundreds of community meetings with residents, teachers, students, and parents to build a stronger community. Obcdc operates the largest community garden in the state of ohio and assists on vacant land clean-ups and reutilization.

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

COURSE OF THE SUMMER.

Financial Statement Notes

Schedule D, Page 3, Part X

Obcdc complies with fasb asc 740- accounting for uncertainty in income taxes. Fasb asc 740 details how companies should recognize, measure, present and disclose uncertain tax positions that have been or are expected to be taken. As such, the financial statements would reflect expected future tax consequences of uncertain tax positions presuming the taxing authorities' full knowledge of the position and all relevant facts, if they existed. Management believes that there are no uncertain tax positions. The organization's tax years that remain subject to examination by the internal revenue service are june 30, 2015 and forward.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt8TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13VICE PRESIDE
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IRS990/Form990PartVIISectionAGrp/TitleTxt15EXECUTIVE DI
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IRS990/MissionDesc0THE MISSION OF OBCDC IS TO DEVELOP AND REVITALIZE THE COMMUNITY BY UNITING AND EMPOWERING RESIDENTS, BUSINESS LEADERS AND GOVERNMENT AROUND PLANS AND INITIATIVES THAT ACHIEVE SOCIAL, ECONOMIC AND CIVIC IMPROVEMENT.
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IRS990/OtherRevenueMiscGrp/BusinessCd0511110
IRS990/OtherRevenueMiscGrp/Desc0NEWSPAPER ADVERTISING
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IRS990/PrincipalOfficerNm0JEFFREY VERESPEJ
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt147088
IRS990/ProgSrvcAccomActy2Grp/Desc0MARKETING AND EVENTS OBCDC PUBLISHES A VARIETY OF COMMUNICATIONS TO INFORM AND CONNECT OLD BROOKLYN RESIDENTS. OBCDC PUBLISHES A QUARTERLY VERSION OF THE OLD BROOKLYN NEWS, A COMMUNITY MAGAZINE WITH A DISTRIBUTION TO OVER 17,000 HOUSES. ADDITIONALLY, OBCDC MANAGES WWW.OLDBROOKLYN.COM AND DELIVERS AN EVERY-OTHER WEEK E-NEWSLETTER WITH COMMUNITY EVENTS AND PROGRAMS. OBCDC MANAGES MULTIPLE SOCIAL MEDIA CHANNELS THAT WHEN COMBINED WITH THE E-NEWS REACH OVER 20,000 INDIVIDUALS. OBCDC HOSTS A VARIETY OF EVENTS THROUGHOUT THE YEAR. SMORGASBORD STREET FESTIVAL ATTRACTED OVER 20,000 VISITORS FOR A SINGLE DAY EVENT, WHILE THE CLEVELAND SUMMER CINEMA, INCLUDING THE FAMILY PROGRAMS AND THE FARMERS MARKET, ATTRACTED OVER 20,000 VISITORS OVER THE COURSE OF THE SUMMER.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0102161
IRS990/ProgSrvcAccomActy3Grp/Desc0COMMERCIAL SERVICES OBCDC CONNECTS AND EDUCATES THE SMALL BUSINESS COMMUNITY IN OLD BROOKLYN THROUGH MONTHLY NETWORKING BREAKFASTS AND EDUCATIONAL PROGRAMS THROUGHOUT THE YEAR. ADDITIONALLY, BUSINESSES ARE REFERRED TO RESOURCES AND PROGRAMS AVAILABLE FROM THE CITY OF CLEVELAND INCLUDING FINANCING, GRANTS, TECHNICAL ASSISTANCE, AND THE STOREFRONT RENOVATION PROGRAM. ENTREPRENEURS ARE SUPPORTED THROUGH EDUCATION AND FINANCIAL RESOURCES, AND OBCDC ASSISTS SMALL BUSINESSES FIND LOCATIONS, EXPAND, AND GROW IN OLD BROOKLYN.
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REAL ESTATE HELD FOR SALE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSIT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYABLES-TRUST FUNDS (NOTE 3)
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CREDIT CARD (NOTE 9)
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED REAL ESTATE TAX
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0OBCDC COMPLIES WITH FASB ASC 740- ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. FASB ASC 740 DETAILS HOW COMPANIES SHOULD RECOGNIZE, MEASURE, PRESENT AND DISCLOSE UNCERTAIN TAX POSITIONS THAT HAVE BEEN OR ARE EXPECTED TO BE TAKEN. AS SUCH, THE FINANCIAL STATEMENTS WOULD REFLECT EXPECTED FUTURE TAX CONSEQUENCES OF UNCERTAIN TAX POSITIONS PRESUMING THE TAXING AUTHORITIES' FULL KNOWLEDGE OF THE POSITION AND ALL RELEVANT FACTS, IF THEY EXISTED. MANAGEMENT BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS. THE ORGANIZATION'S TAX YEARS THAT REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE ARE JUNE 30, 2015 AND FORWARD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.81$1.20$2.61$3.40$1.60$1.80
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.19$1.62$0.57$1.37$1.30$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.47$1.97$0.50$1.22$1.27$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.51$0.96$0.55$1.20$1.02$0.17
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.78$0.39$1.01$0.93$0.08
2018Detailed filing. Detailed filing data is available for this year.$0.56$0.24$0.31$0.92$0.90$0.02
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.19$0.29$0.80$0.82$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.38$0.07$0.31$0.82$0.79$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.42$0.13$0.29$0.69$0.67$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.44$0.18$0.26$0.71$0.61$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.27$0.10$0.16$0.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.17$0.16$0.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.09$0.16$0.75