Civic Intelligence

Slavic Village Development

990 • Fiscal year 2023 • EIN 34-1344279

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

5620 Broadway Avenuesuite 200Cleveland, OH 44127

(216) 429-1182

Siviq Scores

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

Liabilities / Assets

61st percentile

0.14x

Higher debt load relative to assets than 61% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

58th percentile

0.14x

Higher debt load relative to revenue than 58% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

40th percentile

0.0%

Higher net margin than 40% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

77th percentile

$126,763

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

34th percentile

-0.6%

Faster asset growth than 34% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

14th percentile

-26%

Faster revenue growth than 14% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$2,291,000

Down $13,613 (-0.6%) from 2022

Net Assets

Up

$1,968,597

Up $258 (+0.0%) from 2022

Liabilities

Down

$322,403

Down $13,871 (-4.1%) from 2022

Revenue

Down

$2,324,180

Down $831,312 (-26%) from 2022

Expenses

Down

$2,323,922

Down $613,353 (-21%) from 2022

Net Income

Down

$258

Down $217,959 (-100%) from 2022

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 2023: $2,291,000Liabilities 2023: $322,403Net Assets 2023: $1,968,5972023Assets 2024: $2,055,577Liabilities 2024: $333,832Net Assets 2024: $1,721,7452024

Highlighted filing

2023

Assets$2,291,000
Liabilities$322,403
Net Assets$1,968,597

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 2023: $2,324,180Expenses 2023: $2,323,922Net Income 2023: $2582023Revenue 2024: $2,754,042Expenses 2024: $3,000,894Net Income 2024: -$246,8522024

Highlighted filing

2023

Revenue$2,324,180
Expenses$2,323,922
Net Income$258
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$2,324,180
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$529,817$533,907▲ $4,090
Investments Program Related$452,752$422,887▼ $29,865
Land, Buildings, and Equipment, Net$300,512$285,310▼ $15,202
Pledges and Grants Receivable$114,307$258,081▲ $143,774
Cash and Non-Interest-Bearing Accounts$286,118$249,569▼ $36,549
Savings and Temporary Cash Investments$225,510$151,777▼ $73,733
Accounts Receivable$6,142--
Prepaid Expenses and Deferred Charges$561$575▲ $14
Total Assets$2,304,613$2,291,000▼ $13,613
Other Assets Total$388,894$388,894→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$312,737$306,649▼ $6,088
Accounts Payable and Accrued Expenses$21,737$13,954▼ $7,783
Other Liabilities$1,800$1,800→ $0
Total Liabilities$336,274$322,403▼ $13,871
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,812,605$1,783,169▼ $29,436
Net Assets With Donor Restrictions$155,734$185,428▲ $29,694
Total Net Assets Fund Balance$1,968,339$1,968,597▲ $258
Total Liabilities and Net Assets / Fund Balance$2,304,613$2,291,000▼ $13,613

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$279,760$321,577$601,337
Equipment$1,200$46,588$47,788
Land$4,350-$4,350
Investment Program Related Org$422,887--
Other Assets Org$14,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher AlvaradoFormer ExecFT$100,100$26,663$126,763
Christopher AlvaradoFormer Exec Director-$100,100$26,663$126,763
Michael Geregach JrFormer ContrFT$71,023$35,589$106,612

Board Members and Trustees

NameTitle
Greg KnappPresident
Amanda GerdingDirector
Doc WarrDirector
Jamie PawlakDirector
Jennifer RobockDirector
Joe DuffyDirector
Krume StojanovskiDirector
Marlane WeslianDirector
Sharon PosnerDirector
Suzanne FerraraDirector
Rob StunekController
Joyce CummingsSecretary
Kate VinciquerraTreasurer
Tim VerbaVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$2,068,547
Program Service Revenue
$285,280
Investment Income
$-29,647
Other Revenue
$0
All Other Contributions
$1,478,836
Change in Net Assets
$258

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,324,180
Total Revenue per Audited Statements
$2,324,180
Total Revenue per Form 990
$2,324,180
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,262,959
Salaries, Compensation, and Employee Benefits$1,060,963
Total Fundraising Expense$58,389
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$498,808$88,051$11,978$598,837
Other Employee Benefits$186,136$33,639$4,485$224,260
Current Officers, Directors, Trustees, and Key Employees$145,467$28,384$3,547$177,398
Occupancy$88,827--$88,827
Payroll Taxes$50,189$9,070$1,209$60,468
All Other Expenses$42,756$10,543$5,272$58,571
Office Expenses$26,444$2,498$13,386$42,328
Other Expenses$17,945$4,425$2,212$24,582
Insurance$10,517$5,526$1,783$17,826
Depreciation Depletion$12,353$2,406$1,283$16,042
Fees for Services Other$13,495--$13,495
Conferences and Meetings$5,091$373$6,954$12,418
Advertising$547-$3,097$3,644
Interest$3,510--$3,510
Total Functional Expenses$2,080,459$185,074$58,389$2,323,922

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,323,922
Total Expenses per Audited Statements$2,323,922
Total Expenses per Form 990$2,323,922
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 before filing.

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

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

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

Svd reviews work plan goals from 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 AVENUESUITE 200, CLEVELAND, OH 44127

Signing Officer

Name
Rob Stunek
Title
Controller
Phone
2164291182
Signed
2024-05-15

Organization Details

Principal Officer
Rob Stunek
Formed
1980
Legal Domicile
Oh
Voting Board Members
13
Independent Board Members
13
Employees
23
Volunteers
250

Preparer

Firm
Mcmanamon & Co LLC
Address
1651 CROSSINGS PKWY D, WESTLAKE, OH 44145-1959
Preparer
Jeff Firestone CPA Cva
Phone
4408928900
Supplemental Narrative

Additional Explanations

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

Slavic village development (svd) is a non-profit organization whose missions 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: - four formerly vacant and abandoned homes were rehabilitated through the neighbors invest in broadway and slavic village recovery programs. - 275 households received rental, utility, or emergency housing assistance through svd - over 500,000 in direct housing rehab aid was provided by svd svd works to create jobs and economic opportunities. Over the course of the past year: - ten local businesses were created, moved into or expanded their business in the neighborhood. Creating over 20 local new jobs - three commercial buildings received funding to improve the exterior of their commercial building - fifteen other projects received assistance through zoning or design review svd also improves public spaces across the neighborhood - svd received 83,000 in grants to plant 100 new trees and maintain existing tree canopy - 12 neighborhood cleanups were organized, harnessing over 100 volunteers who collected 100 tires, 273 bags of litter, and 70 cubic yards of organic waste.

Financial Statement Notes

Schedule D, Page 3, Part X

Svd 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 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. The management of svd believes that there are no uncertain tax positions. The svd's tax years that remain subject to examination by the internal revenue service are june 30, 2020 and forward.

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IRS990/Desc0SLAVIC VILLAGE DEVELOPMENT (SVD) IS A NON-PROFIT ORGANIZATION WHOSE MISSIONS 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: - FOUR FORMERLY VACANT AND ABANDONED HOMES WERE REHABILITATED THROUGH THE NEIGHBORS INVEST IN BROADWAY AND SLAVIC VILLAGE RECOVERY PROGRAMS. - 275 HOUSEHOLDS RECEIVED RENTAL, UTILITY, OR EMERGENCY HOUSING ASSISTANCE THROUGH SVD - OVER 500,000 IN DIRECT HOUSING REHAB AID WAS PROVIDED BY SVD SVD WORKS TO CREATE JOBS AND ECONOMIC OPPORTUNITIES. OVER THE COURSE OF THE PAST YEAR: - TEN LOCAL BUSINESSES WERE CREATED, MOVED INTO OR EXPANDED THEIR BUSINESS IN THE NEIGHBORHOOD. CREATING OVER 20 LOCAL NEW JOBS - THREE COMMERCIAL BUILDINGS RECEIVED FUNDING TO IMPROVE THE EXTERIOR OF THEIR COMMERCIAL BUILDING - FIFTEEN OTHER PROJECTS RECEIVED ASSISTANCE THROUGH ZONING OR DESIGN REVIEW SVD ALSO IMPROVES PUBLIC SPACES ACROSS THE NEIGHBORHOOD - SVD RECEIVED 83,000 IN GRANTS TO PLANT 100 NEW TREES AND MAINTAIN EXISTING TREE CANOPY - 12 NEIGHBORHOOD CLEANUPS WERE ORGANIZED, HARNESSING OVER 100 VOLUNTEERS WHO COLLECTED 100 TIRES, 273 BAGS OF LITTER, AND 70 CUBIC YARDS OF ORGANIC WASTE.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SVD 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 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. THE MANAGEMENT OF SVD BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS. THE SVD'S TAX YEARS THAT REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE ARE JUNE 30, 2020 AND FORWARD.

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