Civic Intelligence

Summit Terrace Development Corporation

990 • Fiscal year 2018 • EIN 34-1803248

Jan 01, 2018 to Dec 31, 2018 • Filed on Aug 20, 2019

725 East Market StreetAkron, OH 44305

(330) 434-2400

Siviq Scores

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

Liabilities / Assets

35th percentile

0.01x

Higher debt load relative to assets than 35% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

52nd percentile

0.04x

Higher debt load relative to revenue than 52% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

8th percentile

-39%

Higher net margin than 8% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

26th percentile

-5.3%

Faster asset growth than 26% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

38th percentile

-1.1%

Faster revenue growth than 38% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Down

$872,122

Down $48,945 (-5.3%) from 2017

Net Assets

Down

$867,615

Down $46,630 (-5.1%) from 2017

Liabilities

Down

$4,507

Down $2,315 (-34%) from 2017

Revenue

Down

$119,612

Down $1,305 (-1.1%) from 2017

Expenses

Up

$166,242

Up $24,999 (+18%) from 2017

Net Income

Down

-$46,630

Down $26,304 (-129%) from 2017

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2010: $1,145,250Liabilities 2010: $58,198Net Assets 2010: $1,087,0522010Assets 2011: $1,112,746Liabilities 2011: $54,988Net Assets 2011: $1,057,7582011Assets 2012: $1,077,058Liabilities 2012: $62,385Net Assets 2012: $1,014,6732012Assets 2013: $1,054,031Liabilities 2013: $60,087Net Assets 2013: $993,9442013Assets 2014: $1,016,389Liabilities 2014: $42,326Net Assets 2014: $974,0632014Assets 2015: $992,043Liabilities 2015: $43,619Net Assets 2015: $948,4242015Assets 2016: $945,240Liabilities 2016: $10,669Net Assets 2016: $934,5712016Assets 2017: $921,067Liabilities 2017: $6,822Net Assets 2017: $914,2452017Assets 2018: $872,122Liabilities 2018: $4,507Net Assets 2018: $867,6152018Assets 2019: $860,349Liabilities 2019: $4,459Net Assets 2019: $855,8902019Assets 2020: $842,440Liabilities 2020: $6,812Net Assets 2020: $835,6282020Assets 2021: $818,793Liabilities 2021: $14,469Net Assets 2021: $804,3242021Assets 2022: $765,859Liabilities 2022: $19,145Net Assets 2022: $746,7142022Assets 2023: $723,268Liabilities 2023: $29,452Net Assets 2023: $693,8162023Assets 2024: $686,527Liabilities 2024: $27,527Net Assets 2024: $659,0002024

Highlighted filing

2018

Assets$872,122
Liabilities$4,507
Net Assets$867,615

Operations Trend

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

$300K$200K$100K$0-$100KExpenses 2010: $134,2962010Expenses 2011: $137,5972011Expenses 2012: $145,4782012Revenue 2013: $116,772Expenses 2013: $137,501Net Income 2013: -$20,7292013Revenue 2014: $121,656Expenses 2014: $141,537Net Income 2014: -$19,8812014Revenue 2015: $121,092Expenses 2015: $156,722Net Income 2015: -$35,6302015Revenue 2016: $120,458Expenses 2016: $134,311Net Income 2016: -$13,8532016Revenue 2017: $120,917Expenses 2017: $141,243Net Income 2017: -$20,3262017Revenue 2018: $119,612Expenses 2018: $166,242Net Income 2018: -$46,6302018Revenue 2019: $137,650Expenses 2019: $149,375Net Income 2019: -$11,7252019Revenue 2020: $147,477Expenses 2020: $167,739Net Income 2020: -$20,2622020Revenue 2021: $152,083Expenses 2021: $183,387Net Income 2021: -$31,3042021Revenue 2022: $143,058Expenses 2022: $200,668Net Income 2022: -$57,6102022Revenue 2023: $146,912Expenses 2023: $199,810Net Income 2023: -$52,8982023Revenue 2024: $143,330Expenses 2024: $178,146Net Income 2024: -$34,8162024

Highlighted filing

2018

Revenue$119,612
Expenses$166,242
Net Income-$46,630
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Aug 20, 2019
Return Version
2018v3.1
Gross Receipts
$119,612
Mission and Program Overview

Mission

To provide safe, decent and affordable housing to single men and women with a chronic disability in akron, oh.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$870,973$829,596▼ $41,377
Cash and Non-Interest-Bearing Accounts$19,439$11,894▼ $7,545
Accounts Receivable$2,289$2,360▲ $71
Prepaid Expenses and Deferred Charges$457--
Total Assets$921,067$872,122▼ $48,945
Other Assets Total$27,909$28,272▲ $363
Liabilities
Other Liabilities$2,952$3,099▲ $147
Accounts Payable and Accrued Expenses$3,824$1,408▼ $2,416
Deferred Revenue$46--
Total Liabilities$6,822$4,507▼ $2,315
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,464,900$1,464,900→ $0
Unrestricted Net Assets$-550,655$-597,285▼ $46,630
Total Net Assets Fund Balance$914,245$867,615▼ $46,630
Total Liabilities and Net Assets / Fund Balance$921,067$872,122▼ $48,945

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$721,078$745,246$1,466,324
Land$95,000-$95,000
Leasehold Improvements$13,518$2,282$15,800
Other Land Buildings-$8,826$8,826
Equipment-$4,075$4,075
Compensation and Service Providers

Board Members and Trustees

NameTitle
Janet WagnerPresident
Charissa WalkerDirector
Seth Andrew SmolenDirector
China DarringtonTreasurer
Christopher FoyVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$119,593
Investment Income
$19
Other Revenue
$0
Change in Net Assets
$-46,630

Audited Revenue Reconciliation

Revenue per Audited Statements
$119,612
Total Revenue per Audited Statements
$119,612
Total Revenue per Form 990
$119,612
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$166,242
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$41,378--$41,378
Occupancy$25,512--$25,512
Fees for Services Management-$10,836-$10,836
All Other Expenses$6,966$2,993-$9,959
Insurance$7,308--$7,308
Other Expenses$6,495--$6,495
Fees for Services Accounting-$4,800-$4,800
Fees for Services Legal-$1,247-$1,247
Office Expenses-$382-$382
Total Functional Expenses$145,984$20,258$0$166,242

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$166,242
Total Expenses per Audited Statements$166,242
Total Expenses per Form 990$166,242
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 Deposit$3,099
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
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
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The organization's secretary /treasurer reviews the form 990 and provides the board of trustees for review and approval before submission

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

The board of trustees review the organization's conflict of interest policy annually and disclosure is provided to the board secretary

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request of the organization

Filing and Contact Details

Filer

Filer Name
Summit Terrace Development
EIN
34-1803248
Phone
3304342400
Address
725 EAST MARKET STREET, AKRON, OH 44305

Signing Officer

Name
Janet Wagner
Title
President
Phone
3304342400
Signed
2019-08-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janet Wagner
Formed
1995
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
4
Employees
0

Preparer

Firm
Mcmanus Dosen & Co
Address
7251 ENGLE RD STE 406, MIDDLEBURG HEIGHTS, OH 44130-3400
Preparer
Laure B Javorsky CPA
Phone
4402433400
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Tax matters the internal revenue service issued a determination exempting the project from federal income taxes under section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes is included in these statements. Accounting principles generally accepted in the united states of america require the project management to evaluate tax positions taken by the project and recognize a tax liability if the project has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. Management has determined that the project does not have any uncertain tax positions and the associated unrecognized benefits that materially impact the financial statements or related disclosures. The project is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The project believes it is no longer subject to income tax examinations for years prior to 2015.

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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02282
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt015800
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt08826
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt08826
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03099
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/RevenueSubtotalAmt0119612
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TAX MATTERS THE INTERNAL REVENUE SERVICE ISSUED A DETERMINATION EXEMPTING THE PROJECT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THESE STATEMENTS. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE THE PROJECT MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PROJECT AND RECOGNIZE A TAX LIABILITY IF THE PROJECT HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS DETERMINED THAT THE PROJECT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AND THE ASSOCIATED UNRECOGNIZED BENEFITS THAT MATERIALLY IMPACT THE FINANCIAL STATEMENTS OR RELATED DISCLOSURES. THE PROJECT IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE PROJECT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0829596
IRS990ScheduleD/TotalExpensesPerForm990Amt0166242
IRS990ScheduleD/TotalLiabilityAmt03099
IRS990ScheduleD/TotalRevenuePerForm990Amt0119612
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0119612
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JANET WAGNER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S SECRETARY /TREASURER REVIEWS THE FORM 990 AND PROVIDES THE BOARD OF TRUSTEES FOR REVIEW AND APPROVAL BEFORE SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF TRUSTEES REVIEW THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ANNUALLY AND DISCLOSURE IS PROVIDED TO THE BOARD SECRETARY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST OF THE ORGANIZATION
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 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd11N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd12N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd13N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0OHIO MULTI-COUNTY DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1COMMUNITY HEALTH CENTER INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2FOX CREEK I INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3FOX CREEK II INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4HUDSON DRIVE I INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5HUDSON DRIVE II INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt6WREN'S WAY INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt7PEACHTREE III INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt8MCTAGGERT COURT II INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt9ROBINS TERRACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt10PIGEON CREEK I INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt11MCTAGGERT COURT INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt12PELICAN PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt13CARDINALS PEAK INC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt3501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt4501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt5501C3
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt13501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd3OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd4OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd5OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd6OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd7OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd8OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd9OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd10OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd11OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd12OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd13OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1CLINIC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt3HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt4HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt5HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt6HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt7HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt8HOUSING
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt10HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt11HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt12HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt13HOUSING

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.69$0.03$0.66$0.14$0.18$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.72$0.03$0.69$0.15$0.20$0.05
2022Detailed filing. Detailed filing data is available for this year.$0.77$0.02$0.75$0.14$0.20$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.82$0.01$0.80$0.15$0.18$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.84$0.01$0.84$0.15$0.17$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.86$0.00$0.86$0.14$0.15$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.87$0.00$0.87$0.12$0.17$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.92$0.01$0.91$0.12$0.14$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.95$0.01$0.93$0.12$0.13$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.99$0.04$0.95$0.12$0.16$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.04$0.97$0.12$0.14$0.02
2013Detailed filing. Detailed filing data is available for this year.$1.05$0.06$0.99$0.12$0.14$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.06$1.01$0.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.05$1.06$0.14
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.15$0.06$1.09$0.13