Civic Intelligence

Shorebank Enterprise Group

990 • Fiscal year 2014 • EIN 34-1757217

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 05, 2015

Organization Profilen/a
540 E 105th StreetCleveland, OH 44108

(216) 268-6100

Siviq Scores

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

Liabilities / Assets

88th percentile

0.83x

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

90th percentile

2.37x

Higher debt load relative to revenue than 90% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

5th percentile

-52%

Higher net margin than 5% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

36th percentile

$8,000

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

7th percentile

-19%

Faster asset growth than 7% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

7th percentile

-39%

Faster revenue growth than 7% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$1,171,248

Down $2,988,453 (-72%) from 2011

Net Assets

Down

$197,598

Down $522,507 (-73%) from 2011

Liabilities

Down

$973,650

Down $2,465,946 (-72%) from 2011

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin5th percentile

Revenue

$410,708

No earlier filing loaded for comparison.

Expenses

Down

$626,261

Down $867,936 (-58%) from 2011

Net Income

-$215,553

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$10M$5.0M$0-$5.0MAssets 2010: $9,951,466Liabilities 2010: $4,329,902Net Assets 2010: $5,621,5642010Assets 2011: $4,159,701Liabilities 2011: $3,439,596Net Assets 2011: $720,1052011Assets 2014: $1,171,248Liabilities 2014: $973,650Net Assets 2014: $197,5982014Assets 2015: $888,389Liabilities 2015: $927,867Net Assets 2015: -$39,4782015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2014

Assets$1,171,248
Liabilities$973,650
Net Assets$197,598
Open 2014 Filing

Operations Trend

Revenue Growth7th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $2,110,1792010Expenses 2011: $1,494,1972011Revenue 2014: $410,708Expenses 2014: $626,261Net Income 2014: -$215,5532014Revenue 2015: $334,090Expenses 2015: $552,011Net Income 2015: -$217,9212015Revenue 2016: $1,202,343Expenses 2016: $195,965Net Income 2016: $1,006,3782016

Highlighted filing

2014

Revenue$410,708
Expenses$626,261
Net Income-$215,553
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 5, 2015
Return Version
2014v5.0
Gross Receipts
$410,708
Mission and Program Overview

Mission

To provide affordable, below market office and warehouse space to small and medium-sized businesses headquartered in Cleveland. The Organization uses a reduced rent structure in the Glenville Enterprise center as an incentive to grow, hire and retain local residents.

To promote economic equity in the City of Cleveland.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$721,026$682,117▼ $38,909
Savings and Temporary Cash Investments$519,778$318,650▼ $201,128
Cash and Non-Interest-Bearing Accounts$167,222$137,351▼ $29,871
Prepaid Expenses and Deferred Charges$17,382$17,657▲ $275
Accounts Receivable$15,212$15,473▲ $261
Total Assets$1,440,620$1,171,248▼ $269,372
Liabilities
Mortgage Notes Payable Secured by Investment Property$604,845$560,816▼ $44,029
Accounts Payable and Accrued Expenses$226,732$211,394▼ $15,338
Unsecured Notes Loans Payable$140,321$178,541▲ $38,220
Other Liabilities$23,438$22,899▼ $539
Total Liabilities$995,336$973,650▼ $21,686
Net Assets / Fund Balance
Temporarily Rstr Net Assets$320,412$293,888▼ $26,524
Unrestricted Net Assets$124,872$-96,290▼ $221,162
Total Net Assets Fund Balance$445,284$197,598▼ $247,686
Total Liabilities and Net Assets / Fund Balance$1,440,620$1,171,248▼ $269,372

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$579,867$992,209$1,572,076
Land$102,250-$102,250
Compensation and Service Providers
Top Officer Pay36th percentile

Employees

NameTitleBaseTotal
Stephen M MondozziTreasurer$8,000$8,000

Board Members and Trustees

NameTitle
Lafayette CarthonDirector
Mark MileyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$75,000
Program Service Revenue
$328,667
Investment Income
$621
Other Revenue
$6,420
All Other Contributions
$75,000
Change in Net Assets
$-215,553
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$618,261
Salaries, Compensation, and Employee Benefits$8,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$441,883--$441,883
Insurance$44,387$6,884-$51,271
Fees for Services Management-$45,100-$45,100
Depreciation Depletion$38,908--$38,908
Interest$15,552--$15,552
Fees for Services Other$12,625--$12,625
Current Officers, Directors, Trustees, and Key Employees-$8,000-$8,000
Office Expenses$5,737--$5,737
Fees for Services Legal$3,000$1,975-$4,975
Fees for Services Accounting-$2,210-$2,210
Total Functional Expenses$562,092$64,169$0$626,261
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Mark MileyBoard member Mark Miley is CFO of IRG Realty Advisors, LLCIRG Realty Advisors, LLC provides building management services to the Organization. During 2014, IRG was paid $49,250.No$49,250
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Rent security deposits$22,899
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“The organization engaged Mondozzi, LLC to perform Accounting, Accounts Receivable, Investing, Budgeting, Forecasting, Cash Flows, Board reports, Audit Compliance, and Tax Reporting services. Mondozzi,LLC was compensated $8,000 for these services in 2014.”

Form 990, Part VI, Section B, line 11

“The 990 was reviewed by Stephen Mondozzi, a Board Director. A copy was provided to each voting member of the Governing Body for review prior to filing the return.”

Form 990, Part VI, Section B, line 15

“There were no employees during 2014. The Organization was managed by the volunteer Board of Directors with daily operations outsourced to a third party property manager.”

Form 990, Part VI, Section C, line 19

“Governing documents, conflict of Interest Policy, and Financial Statements are not required disclosures pursuant to Internal revenue Code Section 6104. These documents are not available to the general public at this time.”

Filing and Contact Details

Filer

Filer Name
Shorebank Enterprise Group
EIN
34-1757217
Phone
2162686100
Address
540 E 105th Street, Cleveland, OH 44108
Doing Business As
Enterprise Cleveland

Signing Officer

Name
Stephen Mondozzi
Title
Treasurer
Phone
2162686100
Signed
2015-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Mondozzi
Formed
1993
Legal Domicile
Oh
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Desmond & Ahern Ltd
Address
10827 S Western Ave, Chicago, IL 60643
Preparer
Hugh J Ahern CPA
Phone
7737794720
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Imputed Interest -26,524. Provision for loan loss -5,609.”

Raw XML Appendix358 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0Glenville Enterprise Center is a 166,000 square foot, mixed use facility that the Organization renovated in a neighborhood characterized by high levels of unemployment, poverty, and deteriorated physical infrastructure. Today, the Center is home to nearly 40 businesses and 200 employees. Local businesses can find affordable space in this facility.
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IRS990/MissionDesc0To provide affordable, below market office and warehouse space to small and medium-sized businesses headquartered in Cleveland. The Organization uses a reduced rent structure in the Glenville Enterprise center as an incentive to grow, hire and retain local residents.
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Mark Miley
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Board member Mark Miley is CFO of IRG Realty Advisors, LLC
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0IRG Realty Advisors, LLC provides building management services to the Organization. During 2014, IRG was paid $49,250.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization engaged Mondozzi, LLC to perform Accounting, Accounts Receivable, Investing, Budgeting, Forecasting, Cash Flows, Board reports, Audit Compliance, and Tax Reporting services. Mondozzi,LLC was compensated $8,000 for these services in 2014.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 990 was reviewed by Stephen Mondozzi, a Board Director. A copy was provided to each voting member of the Governing Body for review prior to filing the return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2There were no employees during 2014. The Organization was managed by the volunteer Board of Directors with daily operations outsourced to a third party property manager.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents, conflict of Interest Policy, and Financial Statements are not required disclosures pursuant to Internal revenue Code Section 6104. These documents are not available to the general public at this time.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Imputed Interest -26,524. Provision for loan loss -5,609.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, line 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0320412
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0293888
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01440620
IRS990/TotalAssetsEOYAmt01171248
IRS990/TotalAssetsGrp/BOYAmt01440620
IRS990/TotalAssetsGrp/EOYAmt01171248
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt075000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt064169
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0562092
IRS990/TotalFunctionalExpensesGrp/TotalAmt0626261
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0995336
IRS990/TotalLiabilitiesEOYAmt0973650
IRS990/TotalLiabilitiesGrp/BOYAmt0995336
IRS990/TotalLiabilitiesGrp/EOYAmt0973650
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0445284
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0197598
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0562092
IRS990/TotalProgramServiceRevenueAmt0328667
IRS990/TotalReportableCompFromOrgAmt08000
IRS990/TotalRevenueGrp/ExclusionAmt0621
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0335087
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0410708
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01440620
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01171248
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0124872
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-96290
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0140321
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0178541
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0540 E 105th Street
IRS990/USAddress/CityNm0Cleveland
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044108
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0n/a
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Stephen Mondozzi
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum02162686100
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Shorebank Enterprise Group
ReturnHeader/Filer/BusinessNameControlTxt0SHOR
ReturnHeader/Filer/EIN0341757217
ReturnHeader/Filer/PhoneNum02162686100
ReturnHeader/Filer/USAddress/AddressLine1Txt0540 E 105th Street
ReturnHeader/Filer/USAddress/CityNm0Cleveland
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044108
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363321958
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Desmond & Ahern Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010827 S Western Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Chicago
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060643
ReturnHeader/PreparerPersonGrp/PhoneNum07737794720
ReturnHeader/PreparerPersonGrp/PreparationDt02015-11-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Hugh J Ahern CPA
ReturnHeader/ReturnTs02015-11-05T16:58:23-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,171,248
Liabilities
$973,650
Net assets
$197,598
Revenue
$410,708
Expenses
$626,261
Net income
-$215,553
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$1.20$0.20$1.01
2015Detailed filing. Detailed filing data is available for this year.$0.89$0.93$0.04$0.33$0.55$0.22
2014Detailed filing. Detailed filing data is available for this year.$1.17$0.97$0.20$0.41$0.63$0.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.16$3.44$0.72$1.49
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.95$4.33$5.62$2.11