Civic Intelligence

Shorebank Enterprise Group

990 • Fiscal year 2015 • EIN 34-1757217

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 02, 2016

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

93rd percentile

1.04x

Higher debt load relative to assets than 93% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

95th percentile

2.78x

Higher debt load relative to revenue than 95% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

5th percentile

-65%

Higher net margin than 5% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

7th percentile

-24%

Faster asset growth than 7% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

17th percentile

-19%

Faster revenue growth than 17% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$888,389

Down $282,859 (-24%) from 2014

Net Assets

Down

-$39,478

Down $237,076 (-120%) from 2014

Liabilities

Down

$927,867

Down $45,783 (-4.7%) from 2014

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin5th percentile

Revenue

Down

$334,090

Down $76,618 (-19%) from 2014

Expenses

Down

$552,011

Down $74,250 (-12%) from 2014

Net Income

Down

-$217,921

Down $2,368 (-1.1%) from 2014

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

2015

Assets$888,389
Liabilities$927,867
Net Assets-$39,478
Open 2015 Filing

Operations Trend

Revenue Growth17th 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

2015

Revenue$334,090
Expenses$552,011
Net Income-$217,921
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 2, 2016
Return Version
2015v2.1
Gross Receipts
$334,090
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$682,117$643,208▼ $38,909
Savings and Temporary Cash Investments$318,650$112,762▼ $205,888
Cash and Non-Interest-Bearing Accounts$137,351$98,265▼ $39,086
Accounts Receivable$15,473$27,839▲ $12,366
Prepaid Expenses and Deferred Charges$17,657$6,315▼ $11,342
Total Assets$1,171,248$888,389▼ $282,859
Liabilities
Mortgage Notes Payable Secured by Investment Property$560,816$730,571▲ $169,755
Unsecured Notes Loans Payable$178,541--
Accounts Payable and Accrued Expenses$211,394$177,588▼ $33,806
Other Liabilities$22,899$19,708▼ $3,191
Total Liabilities$973,650$927,867▼ $45,783
Net Assets / Fund Balance
Temporarily Rstr Net Assets$293,888$270,017▼ $23,871
Unrestricted Net Assets$-96,290$-309,495▼ $213,205
Total Net Assets Fund Balance$197,598$-39,478▼ $237,076
Total Liabilities and Net Assets / Fund Balance$1,171,248$888,389▼ $282,859

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$540,958$1,031,118$1,572,076
Land$102,250-$102,250
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Lafayette CarthonDirector
Mark MileyDirector
Stephen M MondozziTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$75,000
Program Service Revenue
$253,247
Investment Income
$343
Other Revenue
$5,500
All Other Contributions
$75,000
Change in Net Assets
$-217,921
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$552,011
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$384,285--$384,285
Insurance$38,599$6,884-$45,483
Fees for Services Management$45,000--$45,000
Depreciation Depletion$38,908--$38,908
Interest$15,227--$15,227
Fees for Services Legal$10,953--$10,953
Office Expenses$5,380--$5,380
Fees for Services Other$4,825--$4,825
Fees for Services Accounting-$1,700-$1,700
Other Expenses$250--$250
Total Functional Expenses$543,427$8,584$0$552,011
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 2015, IRG was paid $45,000.No$45,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Rent security deposits$19,708
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 not compensated for these services in 2015.”

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 2015. The Organization was managed by the volunteer Board of Directors with daily operations outsourced to a 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
2016-11-02
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
Adam C Goyke CPA
Phone
7737794720
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Imputed Interest -23,871. Provision for loan loss 4,716.”

Raw XML Appendix357 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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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 2015, IRG was paid $45,000.
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 not compensated for these services in 2015.
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 2015. The Organization was managed by the volunteer Board of Directors with daily operations outsourced to a 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 -23,871. Provision for loan loss 4,716.
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:
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IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0293888
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0270017
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01171248
IRS990/TotalAssetsEOYAmt0888389
IRS990/TotalAssetsGrp/BOYAmt01171248
IRS990/TotalAssetsGrp/EOYAmt0888389
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt075000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08584
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0543427
IRS990/TotalFunctionalExpensesGrp/TotalAmt0552011
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0973650
IRS990/TotalLiabilitiesEOYAmt0927867
IRS990/TotalLiabilitiesGrp/BOYAmt0973650
IRS990/TotalLiabilitiesGrp/EOYAmt0927867
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0197598
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-39478
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0543427
IRS990/TotalProgramServiceRevenueAmt0253247
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0343
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0258747
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0334090
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01171248
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0888389
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-96290
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-309495
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0178541
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/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Stephen Mondozzi
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum02162686100
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-02
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/PreparationDt02016-11-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Adam C Goyke CPA
ReturnHeader/ReturnTs02016-11-02T08:45:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$888,389
Liabilities
$927,867
Net assets
-$39,478
Revenue
$334,090
Expenses
$552,011
Net income
-$217,921
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