Civic Intelligence

Shorebank Enterprise Group

990 • Fiscal year 2016 • EIN 34-1757217

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 09, 2017

Organization Profilen/a
135 S LaSalle Street No 2040Chicago, IL 60603

(312) 662-6099

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2016

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

97th percentile

84%

Higher net margin than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

97th percentile

260%

Faster revenue growth than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $888,389 (-100%) from 2015

Net Assets

Up

$0

Up $39,478 (+100%) from 2015

Liabilities

Down

$0

Down $927,867 (-100%) from 2015

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin97th percentile

Revenue

Up

$1,202,343

Up $868,253 (+260%) from 2015

Expenses

Down

$195,965

Down $356,046 (-64%) from 2015

Net Income

Up

$1,006,378

Up $1,224,299 (+562%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2016

Assets$0
Liabilities$0
Net Assets$0
Open 2016 Filing

Operations Trend

Revenue Growth97th 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

2016

Revenue$1,202,343
Expenses$195,965
Net Income$1,006,378
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 9, 2017
Return Version
2016v3.0
Gross Receipts
$1,202,343
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$643,208$0▼ $643,208
Savings and Temporary Cash Investments$112,762$0▼ $112,762
Cash and Non-Interest-Bearing Accounts$98,265$0▼ $98,265
Accounts Receivable$27,839$0▼ $27,839
Prepaid Expenses and Deferred Charges$6,315$0▼ $6,315
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$888,389$0▼ $888,389
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$730,571--
Accounts Payable and Accrued Expenses$177,588--
Other Liabilities$19,708$0▼ $19,708
Total Liabilities$927,867$0▼ $927,867
Net Assets / Fund Balance
Temporarily Rstr Net Assets$270,017$0▼ $270,017
Unrestricted Net Assets$-309,495$0▲ $309,495
Total Net Assets Fund Balance$-39,478$0▲ $39,478
Total Liabilities and Net Assets / Fund Balance$888,389$0▼ $888,389
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Lafayette CarthonDirector
Mark MileyDirector
Stephen M MondozziTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$25,900
Investment Income
$36
Other Revenue
$1,176,407
Change in Net Assets
$1,006,378
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$195,965
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$143,620--$143,620
Insurance$20,155--$20,155
Fees for Services Management$11,250--$11,250
Depreciation Depletion$9,727--$9,727
Fees for Services Accounting-$4,900-$4,900
Fees for Services Other$3,366--$3,366
Office Expenses$2,166--$2,166
Interest$781--$781
Total Functional Expenses$191,065$4,900$0$195,965
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 $11,250.No$11,250

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 paid $1,500 for these services in 2016.”

Form 990, Part VI, Section B, line 11B

“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 2016. 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
3126626099
Address
135 S LaSalle Street No 2040, Chicago, IL 60603
Doing Business As
Enterprise Cleveland

Signing Officer

Name
Stephen Mondozzi
Title
Treasurer
Phone
3126626099
Signed
2017-11-09
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
1

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 III, line 3

“The building was transferred to Cuyahoga County Land Revitalization Corporation on March 31, 2016 for the purpose of promoting economic and housing development in the county.”

Form 990, Part XI, line 9:

“Imputed Interest -270,017. Cuyahoga County Land Revitalization Corporation -696,883.”

Raw XML Appendix380 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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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1Cuyahoga County Land Revitalization Corporation
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0County Land Revitalization Corporation
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1County Land Revitalization Corporation
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd1OH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd044113
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd144113
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The building was transferred to Cuyahoga County Land Revitalization Corporation on March 31, 2016 for the purpose of promoting economic and housing development in the county.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 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 paid $1,500 for these services in 2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The 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/ExplanationTxt3There were no employees during 2016. The Organization was managed by the volunteer Board of Directors with daily operations outsourced to a property manager.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Governing 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/ExplanationTxt5Imputed Interest -270,017. Cuyahoga County Land Revitalization Corporation -696,883.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, line 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0270017
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt0888389
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0888389
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04900
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0191065
IRS990/TotalFunctionalExpensesGrp/TotalAmt0195965
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0927867
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt0927867
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-39478
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0191065
IRS990/TotalProgramServiceRevenueAmt025900
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01145502
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt056841
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01202343
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt01
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0888389
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-309495
IRS990/UnrestrictedNetAssetsGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0135 S LaSalle Street No 2040
IRS990/USAddress/CityNm0Chicago
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060603
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/PhoneNum03126626099
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Shorebank Enterprise Group
ReturnHeader/Filer/BusinessNameControlTxt0SHOR
ReturnHeader/Filer/EIN0341757217
ReturnHeader/Filer/PhoneNum03126626099
ReturnHeader/Filer/USAddress/AddressLine1Txt0135 S LaSalle Street No 2040
ReturnHeader/Filer/USAddress/CityNm0Chicago
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060603
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0561FBA7FBE27046BB70B6DEFE1E9EDE4D70200D4
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0561FBA7FBE27046BB70B6DEFE1E9EDE4D70200D4
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.84.64.45
ReturnHeader/FilingSecurityInformation/IPDt02017-11-09
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:40:10
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/PreparationDt02017-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Adam C Goyke CPA
ReturnHeader/ReturnTs02017-11-09T15:42:19-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$1,202,343
Expenses
$195,965
Net income
$1,006,378
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$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