Civic Intelligence

Old Brooklyn Community Development Corporation

990 • Fiscal year 2019 • EIN 34-1177633

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 21, 2019

4274 Pearl RoadCleveland, OH 44109

(216) 459-1000

Siviq Scores

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

Liabilities / Assets

86th percentile

0.67x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

84th percentile

0.77x

Higher debt load relative to revenue than 84% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

61st percentile

7.5%

Higher net margin than 61% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

96th percentile

109%

Faster asset growth than 96% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

61st percentile

9.0%

Faster revenue growth than 61% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,163,091

Up $607,111 (+109%) from 2018

Net Assets

Up

$386,755

Up $75,188 (+24%) from 2018

Liabilities

Up

$776,336

Up $531,923 (+218%) from 2018

Revenue

Up

$1,005,311

Up $83,159 (+9.0%) from 2018

Expenses

Up

$930,123

Up $29,678 (+3.3%) from 2018

Net Income

Up

$75,188

Up $53,481 (+246%) from 2018

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

2019

Assets$1,163,091
Liabilities$776,336
Net Assets$386,755

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

2019

Revenue$1,005,311
Expenses$930,123
Net Income$75,188
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 21, 2019
Return Version
2018v3.1
Gross Receipts
$1,005,311
Mission and Program Overview

Mission

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
Land, Buildings, and Equipment, Net$136,926$742,929▲ $606,003
Pledges and Grants Receivable$173,683$277,328▲ $103,645
Cash and Non-Interest-Bearing Accounts$71,375$39,598▼ $31,777
Savings and Temporary Cash Investments$210$20,212▲ $20,002
Accounts Receivable$23,108$7,706▼ $15,402
Prepaid Expenses and Deferred Charges$5,594$4,799▼ $795
Total Assets$555,980$1,163,091▲ $607,111
Other Assets Total$145,084$70,519▼ $74,565
Liabilities
Mortgage Notes Payable Secured by Investment Property$133,339$653,047▲ $519,708
Accounts Payable and Accrued Expenses$28,215$73,461▲ $45,246
Other Liabilities$32,859$39,828▲ $6,969
Deferred Revenue$50,000$10,000▼ $40,000
Total Liabilities$244,413$776,336▲ $531,923
Net Assets / Fund Balance
Unrestricted Net Assets$275,489$386,755▲ $111,266
Temporarily Rstr Net Assets$36,078--
Total Net Assets Fund Balance$311,567$386,755▲ $75,188
Total Liabilities and Net Assets / Fund Balance$555,980$1,163,091▲ $607,111

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$712,667-$712,667
Equipment$27,536$10,200$37,736
Other Land Buildings$2,726$12,365$15,091
Other Assets Org$1,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeffrey VerespejExecutive DiFT$76,138-$76,138
Mike CaparanisDirector-$1,800-$1,800
Kristen WilsonVice PresidePT-$1,782$1,782

Board Members and Trustees

NameTitle
David MartinPresident
David MargoliusDirector
John JenkinsDirector
Ramon ClaudioDirector
Reggie ClarkDirector
Richey PiiparinenDirector
Sean McgraneDirector
Tiffany SedlacekDirector
Fr Doug BrownSecretary
David RobinsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$946,608
Program Service Revenue
$19,203
Investment Income
$3
Other Revenue
$39,497
All Other Contributions
$323,109
Change in Net Assets
$75,188

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,005,311
Total Revenue per Audited Statements
$1,005,311
Total Revenue per Form 990
$1,005,311
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$590,419
Other Expenses$339,704
Total Fundraising Expense$51,856
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$363,501$19,715$1,303$384,519
Other Employee Benefits$72,889$7,034$3,691$83,614
Current Officers, Directors, Trustees, and Key Employees$38,068$19,035$19,035$76,138
Office Expenses$47,800$7,669$828$56,297
Fees for Services Accounting-$45,842-$45,842
Payroll Taxes$32,242$3,111$1,633$36,986
Occupancy$19,398$2,022$983$22,403
Advertising$9,879$1,421-$11,300
Information Technology-$10,012-$10,012
Pension Plan Contributions$7,987$771$404$9,162
Other Expenses$5,148$5,652$23,303$5,148
Depreciation Depletion$4,559$297$289$5,145
Fees for Services Other-$5,000-$5,000
Conferences and Meetings$3,647$352$185$4,184
Interest-$3,908-$3,908
All Other Expenses$3,100--$3,100
Insurance$2,379$230$120$2,729
Travel$1,621$156$82$1,859
Total Functional Expenses$744,103$134,164$51,856$930,123

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$930,123
Total Expenses per Audited Statements$930,123
Total Expenses per Form 990$930,123
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$26,483
Credit Card$7,935
Accrued Vacation$2,631
Accrued Interest$1,725
Accrued Real Estate Tax$1,054
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
4274 PEARL ROAD, CLEVELAND, OH 44109

Signing Officer

Name
Jeffrey Verespej
Title
Executive Director
Phone
2164591000
Signed
2019-11-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Verespej
Formed
1975
Legal Domicile
Oh
Voting Board Members
12
Independent Board Members
12
Employees
14
Volunteers
450

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

Residential services obcdc provides services to neighborhood residents. This is both an emphasis on quality of life enhancements as well as a focus on residential rehabilitation and renovations in old brooklyn. With an emphasis on community health, obcdc assesses and intervenes on the health of the neighborhood in relation to greenspace, food access, transportation, economic opportunity, chronic disease, resource availability, and substance use. Obcdc connects residents to resources and programs for home repair, hosts educational classes on home purchases and home repairs, completes safe and secure repairs for low-income senior citizens, distributes energy efficient light bulbs for outdoor usage that promotes safety, encourages 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

Marketing 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.

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, 2016 and forward.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt12EXECUTIVE 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/PrincipalOfficerNm0JEFFREY VERESPEJ
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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/ExpenseAmt0131271
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.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt090604
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IRS990/ReconcilationRevenueExpnssAmt075188
IRS990/RegularMonitoringEnfrcInd0true
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REAL ESTATE HELD FOR SALE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSIT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED VACATION
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4ACCRUED 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, 2016 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
2019Detailed filing. Detailed filing data is available for this year.$1.16$0.78$0.39$1.01$0.93$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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