Civic Intelligence

Slavic Village Development

990 • Fiscal year 2022 • EIN 34-1344279

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 30, 2023

5620 Broadway Avenue Ste 200Cleveland, OH 44127

(216) 429-1182

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.15x

Higher debt load relative to assets than 63% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

55th percentile

0.11x

Higher debt load relative to revenue than 55% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

50th percentile

6.9%

Higher net margin than 50% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

77th percentile

$123,409

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

32nd percentile

-4.2%

Faster asset growth than 32% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

73rd percentile

30%

Faster revenue growth than 73% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$2,304,613

Down $128,711 (-5.3%) from 2019

Net Assets

Up

$1,968,339

Up $590,959 (+43%) from 2019

Liabilities

Down

$336,274

Down $719,670 (-68%) from 2019

Revenue

Up

$3,155,492

Up $463,094 (+17%) from 2019

Expenses

Up

$2,937,275

Up $17,868 (+0.6%) from 2019

Net Income

Up

$218,217

Up $445,226 (+196%) from 2019

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 2015: $3,302,786Liabilities 2015: $1,233,865Net Assets 2015: $2,068,9212015Assets 2016: $3,281,361Liabilities 2016: $1,295,861Net Assets 2016: $1,985,5002016Assets 2017: $2,648,831Liabilities 2017: $1,083,661Net Assets 2017: $1,565,1702017Assets 2018: $2,672,749Liabilities 2018: $1,099,824Net Assets 2018: $1,572,9252018Assets 2019: $2,433,324Liabilities 2019: $1,055,944Net Assets 2019: $1,377,3802019Assets 2022: $2,304,613Liabilities 2022: $336,274Net Assets 2022: $1,968,3392022Assets 2024: $2,055,577Liabilities 2024: $333,832Net Assets 2024: $1,721,7452024

Highlighted filing

2022

Assets$2,304,613
Liabilities$336,274
Net Assets$1,968,339

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $1,786,797Expenses 2015: $1,817,466Net Income 2015: -$30,6692015Revenue 2016: $1,801,487Expenses 2016: $1,884,908Net Income 2016: -$83,4212016Revenue 2017: $2,248,727Expenses 2017: $2,669,057Net Income 2017: -$420,3302017Revenue 2018: $2,467,139Expenses 2018: $2,459,384Net Income 2018: $7,7552018Revenue 2019: $2,692,398Expenses 2019: $2,919,407Net Income 2019: -$227,0092019Revenue 2022: $3,155,492Expenses 2022: $2,937,275Net Income 2022: $218,2172022Revenue 2024: $2,754,042Expenses 2024: $3,000,894Net Income 2024: -$246,8522024

Highlighted filing

2022

Revenue$3,155,492
Expenses$2,937,275
Net Income$218,217
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 30, 2023
Return Version
2021v4.0
Gross Receipts
$3,155,492
Mission and Program Overview

Mission

Slavic village development (svd) (the organization) is a non-profit organization primarily funded through grants and contracts with non-profit housing agencies and the city of cleveland, ohio. Its primary activities are the construction, rehabilitation, weatherization and management of residential homes and multifamily units in the slavic village and broadway avenue area of cleveland, ohio. Its subsidiary main street development, inc. Is a for-profit entity. In addition, svd works to create jobs and employment opportunities, alleviate physical and economic deterioration, stimulate economic revitalization, improve safety and promote the general welfare of residents and businesses located in the slavic village and broadway avenue neighborhood.

Slavic village development works with and for its residents, businesses, and institutions to promote civic engagement, community empowerment, and neighborhood investment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$853,740$529,817▼ $323,923
Investments Program Related$35,626$452,752▲ $417,126
Land, Buildings, and Equipment, Net$315,598$300,512▼ $15,086
Cash and Non-Interest-Bearing Accounts$207,154$286,118▲ $78,964
Savings and Temporary Cash Investments$156,654$225,510▲ $68,856
Pledges and Grants Receivable$258,152$114,307▼ $143,845
Accounts Receivable$202,697$6,142▼ $196,555
Prepaid Expenses and Deferred Charges$303$561▲ $258
Total Assets$2,405,318$2,304,613▼ $100,705
Other Assets Total$375,394$388,894▲ $13,500
Liabilities
Mortgage Notes Payable Secured by Investment Property$633,754$312,737▼ $321,017
Accounts Payable and Accrued Expenses$21,442$21,737▲ $295
Other Liabilities-$1,800-
Total Liabilities$655,196$336,274▼ $318,922
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,515,343$1,812,605▲ $297,262
Net Assets With Donor Restrictions$234,779$155,734▼ $79,045
Total Net Assets Fund Balance$1,750,122$1,968,339▲ $218,217
Total Liabilities and Net Assets / Fund Balance$2,405,318$2,304,613▼ $100,705

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$296,161$305,176$601,337
Land$4,350-$4,350
Investment Program Related Org$452,752--
Other Assets Org$500--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael Geregach JrControllerFT$90,789$32,620$123,409
Christopher AlvaradoExecutive DiFT$92,710$25,924$118,634

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,512,366
Program Service Revenue
$225,822
Investment Income
$417,304
Other Revenue
$0
All Other Contributions
$1,546,713
Change in Net Assets
$218,217

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,155,492
Total Revenue per Audited Statements
$3,155,492
Total Revenue per Form 990
$3,155,492
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,999,720
Salaries, Compensation, and Employee Benefits$937,555
Total Fundraising Expense$59,279
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$412,616$77,225$9,693$499,534
Current Officers, Directors, Trustees, and Key Employees$200,138$39,185$4,279$243,602
All Other Expenses$175,498$42,993$21,649$240,140
Other Employee Benefits$98,741$21,939$1,474$122,154
Other Expenses$121,390$387$249$121,639
Payroll Taxes$43,096$9,576$643$53,315
Pension Plan Contributions$15,318$3,403$229$18,950
Insurance$10,904$5,174$624$16,702
Depreciation Depletion$11,604$2,321$1,161$15,086
Fees for Services Other$9,098$1,164$1,403$11,665
Conferences and Meetings$4,369$322$5,919$10,610
Fees for Services Accounting$4,328$554$668$5,550
Fees for Services Legal$3,527$451$544$4,522
Interest$3,806--$3,806
Advertising$424-$2,436$2,860
Office Expenses$773$252$160$1,185
Total Functional Expenses$2,673,050$204,946$59,279$2,937,275

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,937,275
Total Expenses per Audited Statements$2,937,275
Total Expenses per Form 990$2,937,275
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
Security Deposits$1,800
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 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
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 11B

The form 990 is reviewed by the board prior to filing.

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

The organization monitors and enforces the policy with an annual certification and disclosure form.

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

The organization reviews work plan goals from the prior period. Based on accomplishments, the personnel committee provides compensation recommendations.

Form 990, Page 6, Part VI, Line 19

Consistent with the requirements of section 6104(d) of the irc and the regulations therein, copies of the organization's governing documents are made available upon request, in a timely manner, and subject to charges permitted by law, to any individual who requests them.

Filing and Contact Details

Filer

Filer Name
Slavic Village Development
EIN
34-1344279
Phone
2164291182
Address
5620 BROADWAY AVENUE STE 200, CLEVELAND, OH 44127

Signing Officer

Name
Christopher Alvarado
Title
Executive Director
Phone
2164291182
Signed
2023-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher Alvarado
Legal Domicile
Oh
Voting Board Members
13
Independent Board Members
13
Employees
16
Volunteers
1,000

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

Slavic village development (svd) is a non-profit organization whose mission is to work with and for its residents, businesses, and institutions to promote civic engagement, community empowerment, and neighborhood investment. This is accomplished through three goals: 1.svd is an engaged, inclusive, and proactive champion empowering its residents and businesses. 2.svd partners with residents and businesses to improve the slavic village neighborhood through advocacy and promotion. 3.svd builds slavic village as a welcoming place where families and businesses can thrive. The development of housing is a core function of svd. Over the past year: -ten formerly vacant and abandoned homes were rehabilitated through the neighbors invest in broadway and the slavic village recovery programs -535 households received rental, utility, or emergency housing assistance through svd -over 150,000 in direct housing rehab aid was provided by svd -the number of distressed properties has decreased to below 100, a number that has not been reached since 2013. This is due to a combination of redevelopment efforts, tenant advocacy, repair programs, and other efforts over the past decade. Svd works to create jobs and economic opportunities. Over the course of the past year: -six new local businesses were created in the neighborhood -five large-scale development projects are currently underway that would result in 1,000 new jobs -75,000 in grants for business development were secured -seven other projects were aided through the zoning and design review process svd also improves public spaces across the neighborhood -svd secured 30,000 in grants to plant 20 new trees and maintain existing tree canopy -20 neighborhood cleanups took place, harnessing over 900 volunteers who collected 60 tires, 341 bags of litter, and 80 cubic yards of organic waste. -over 225 parcels were cleared of trash and debris.

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 june 30, 2022.

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IRS990/Desc0SLAVIC VILLAGE DEVELOPMENT (SVD) IS A NON-PROFIT ORGANIZATION WHOSE MISSION IS TO WORK WITH AND FOR ITS RESIDENTS, BUSINESSES, AND INSTITUTIONS TO PROMOTE CIVIC ENGAGEMENT, COMMUNITY EMPOWERMENT, AND NEIGHBORHOOD INVESTMENT. THIS IS ACCOMPLISHED THROUGH THREE GOALS: 1.SVD IS AN ENGAGED, INCLUSIVE, AND PROACTIVE CHAMPION EMPOWERING ITS RESIDENTS AND BUSINESSES. 2.SVD PARTNERS WITH RESIDENTS AND BUSINESSES TO IMPROVE THE SLAVIC VILLAGE NEIGHBORHOOD THROUGH ADVOCACY AND PROMOTION. 3.SVD BUILDS SLAVIC VILLAGE AS A WELCOMING PLACE WHERE FAMILIES AND BUSINESSES CAN THRIVE. THE DEVELOPMENT OF HOUSING IS A CORE FUNCTION OF SVD. OVER THE PAST YEAR: -TEN FORMERLY VACANT AND ABANDONED HOMES WERE REHABILITATED THROUGH THE NEIGHBORS INVEST IN BROADWAY AND THE SLAVIC VILLAGE RECOVERY PROGRAMS -535 HOUSEHOLDS RECEIVED RENTAL, UTILITY, OR EMERGENCY HOUSING ASSISTANCE THROUGH SVD -OVER 150,000 IN DIRECT HOUSING REHAB AID WAS PROVIDED BY SVD -THE NUMBER OF DISTRESSED PROPERTIES HAS DECREASED TO BELOW 100, A NUMBER THAT HAS NOT BEEN REACHED SINCE 2013. THIS IS DUE TO A COMBINATION OF REDEVELOPMENT EFFORTS, TENANT ADVOCACY, REPAIR PROGRAMS, AND OTHER EFFORTS OVER THE PAST DECADE. SVD WORKS TO CREATE JOBS AND ECONOMIC OPPORTUNITIES. OVER THE COURSE OF THE PAST YEAR: -SIX NEW LOCAL BUSINESSES WERE CREATED IN THE NEIGHBORHOOD -FIVE LARGE-SCALE DEVELOPMENT PROJECTS ARE CURRENTLY UNDERWAY THAT WOULD RESULT IN 1,000 NEW JOBS -75,000 IN GRANTS FOR BUSINESS DEVELOPMENT WERE SECURED -SEVEN OTHER PROJECTS WERE AIDED THROUGH THE ZONING AND DESIGN REVIEW PROCESS SVD ALSO IMPROVES PUBLIC SPACES ACROSS THE NEIGHBORHOOD -SVD SECURED 30,000 IN GRANTS TO PLANT 20 NEW TREES AND MAINTAIN EXISTING TREE CANOPY -20 NEIGHBORHOOD CLEANUPS TOOK PLACE, HARNESSING OVER 900 VOLUNTEERS WHO COLLECTED 60 TIRES, 341 BAGS OF LITTER, AND 80 CUBIC YARDS OF ORGANIC WASTE. -OVER 225 PARCELS WERE CLEARED OF TRASH AND DEBRIS.
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