Civic Intelligence

Economic Development Rail II Corporation

990 • Fiscal year 2015 • EIN 34-1773503

Jan 01, 2015 to Dec 31, 2015 • Filed on Apr 25, 2016

Organization ProfileWWW.MVEDC.COM
4319 Belmont AvenueYoungstown, OH 44505

(330) 759-3668

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.02x

Higher debt load relative to assets than 32% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

92nd percentile

2.77x

Higher debt load relative to revenue than 92% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

1st percentile

-557%

Higher net margin than 1% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

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.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

25th percentile

-4.3%

Faster asset growth than 25% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

63rd percentile

9.0%

Faster revenue growth than 63% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$1,164,336

Down $52,359 (-4.3%) from 2014

Net Assets

Down

$1,136,575

Down $55,707 (-4.7%) from 2014

Liabilities

Up

$27,761

Up $3,348 (+14%) from 2014

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin1st percentile

Revenue

Up

$10,009

Up $830 (+9.0%) from 2014

Expenses

Up

$65,716

Up $1,963 (+3.1%) from 2014

Net Income

Down

-$55,707

Down $1,133 (-2.1%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $1,430,156Liabilities 2010: $17,353Net Assets 2010: $1,412,8032010Assets 2011: $1,375,838Liabilities 2011: $18,568Net Assets 2011: $1,357,2702011Assets 2012: $1,313,026Liabilities 2012: $11,595Net Assets 2012: $1,301,4312012Assets 2013: $1,267,372Liabilities 2013: $20,516Net Assets 2013: $1,246,8562013Assets 2014: $1,216,695Liabilities 2014: $24,413Net Assets 2014: $1,192,2822014Assets 2015: $1,164,336Liabilities 2015: $27,761Net Assets 2015: $1,136,5752015

Highlighted filing

2015

Assets$1,164,336
Liabilities$27,761
Net Assets$1,136,575
Open 2015 Filing

Operations Trend

Revenue Growth63rd percentile

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

$100K$50K$0-$50K-$100KExpenses 2010: $48,2342010Expenses 2011: $69,9952011Expenses 2012: $64,3012012Revenue 2013: $8,923Expenses 2013: $63,498Net Income 2013: -$54,5752013Revenue 2014: $9,179Expenses 2014: $63,753Net Income 2014: -$54,5742014Revenue 2015: $10,009Expenses 2015: $65,716Net Income 2015: -$55,7072015

Highlighted filing

2015

Revenue$10,009
Expenses$65,716
Net Income-$55,707
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Apr 25, 2016
Return Version
2015v2.1
Gross Receipts
$10,009
Mission and Program Overview

Mission

Development to prevent economic depression.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,197,120$1,145,586▼ $51,534
Cash and Non-Interest-Bearing Accounts$17,525$16,700▼ $825
Accounts Receivable$2,050$2,050→ $0
Total Assets$1,216,695$1,164,336▼ $52,359
Liabilities
Other Liabilities$24,413$27,761▲ $3,348
Total Liabilities$24,413$27,761▲ $3,348
Net Assets / Fund Balance
Unrestricted Net Assets$1,192,282$1,136,575▼ $55,707
Total Net Assets Fund Balance$1,192,282$1,136,575▼ $55,707
Total Liabilities and Net Assets / Fund Balance$1,216,695$1,164,336▼ $52,359

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$960,259$585,776$1,546,035
Land$185,327-$185,327
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Jeffrey SolomonPresident
Charles Wern IiiTrustee
Dennis RossiTrustee
Patricia AugustineTrustee
Charles NaderAssistant Se
James GlennAssistant Tr
Warren Harrell JrSecretary
David FrenchTreasurer
Daine SauerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$8,575
Investment Income
$2
Other Revenue
$1,432
Change in Net Assets
$-55,707

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,009
Total Revenue per Audited Statements
$10,009
Total Revenue per Form 990
$10,009
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$65,716
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
Depreciation Depletion$51,534--$51,534
Fees for Services Accounting$2,395--$2,395
Occupancy$1,435--$1,435
Other Expenses$236$10,007-$236
Office Expenses$109--$109
Total Functional Expenses$55,709$10,007$0$65,716

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$65,716
Total Expenses per Audited Statements$65,716
Total Expenses per Form 990$65,716
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
Due to Related Party$23,646
Maintenance Reserve$4,115
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
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 of trustees and filed after approval by the board.”

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

“Officers, directors and key employees are evaluated by the executive committee on an annual basis to ensure there are no conflicts of interest.”

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

“The compensation of the executive director is evaluated on an annual basis by the executive committee. The compensation is then approved by the executive committee and the full board of trustees.”

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

“The compensation of the loan officers are evaluated on an annual basis by the loan committee. The compensation is then approved by the loan committee and the full board of trustees.”

Form 990, Page 6, Part VI, Line 19

“All of the documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Economic Development Rail Ii
EIN
34-1773503
Phone
3307593668
Address
4319 BELMONT AVENUE, YOUNGSTOWN, OH 44505

Signing Officer

Name
James Glenn
Title
Assistant Treasurer
Phone
3307593668
Signed
2016-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Glenn
Formed
1994
Legal Domicile
Oh
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Reali Giampetro & Scott
Address
PO BOX 200, CANFIELD, OH 44406-0200
Preparer
Peter M Stanovich CPA
Phone
3307023100
Supplemental Narrative

Additional Explanations

Form 990, Page 12, Part XII, Line 2C

“No change from prior year.”

Financial Statement Notes

Schedule D, Page 3, Part X

“In previous years, the corporation adopted topic 740 (fin 48). The corporation files informational tax returns in the u.s. Federal jurisdiction and one local jurisdiction. Generally, these jurisdictions ahve statutes of limitations that run three years, which means tax years that remain subject to examination would be tax years ended december 31, 2012 and beyond. Presently, the corporation is under no examination from any jurisdiction. The corporation evaluated tax positions, statutes of limitations, tax law and changes and new authoritative rulings and concludes a low possibility of material unrecognized tax benefits that would need to be recorded and disclosed.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE BOARD OF TRUSTEES AND FILED AFTER APPROVAL BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE EVALUATED BY THE EXECUTIVE COMMITTEE ON AN ANNUAL BASIS TO ENSURE THERE ARE NO CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS EVALUATED ON AN ANNUAL BASIS BY THE EXECUTIVE COMMITTEE. THE COMPENSATION IS THEN APPROVED BY THE EXECUTIVE COMMITTEE AND THE FULL BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COMPENSATION OF THE LOAN OFFICERS ARE EVALUATED ON AN ANNUAL BASIS BY THE LOAN COMMITTEE. THE COMPENSATION IS THEN APPROVED BY THE LOAN COMMITTEE AND THE FULL BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL OF THE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO CHANGE FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 12, PART XII, LINE 2C
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,164,336
Liabilities
$27,761
Net assets
$1,136,575
Revenue
$10,009
Expenses
$65,716
Net income
-$55,707
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$1.16$0.03$1.14$0.01$0.07$0.06
2014Detailed filing. Detailed filing data is available for this year.$1.22$0.02$1.19$0.01$0.06$0.05
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.27$0.02$1.25$0.01$0.06$0.05
2012XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.31$0.01$1.30$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$0.02$1.36$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.02$1.41$0.05