Civic Intelligence

University Park Development Corporation

EIN 34-1934402 • 501(c)3 • Fairlawn, OH

Profile

We envision upa as a catalyst to transform the 40 blocks surrounding the university of akron to a traditional urban neighborhood where people live, ideas thrive and community is key. We see a path for getting there. Our strategy is to capitalize on the economic synergy of the great institutions within the footprint already anchored throughout this geography--including a major university, three excellent hospitals, a bio-tech institute, three brand new schools--and develop a dense, walkable neighborhood with diverse cultural offerings, great healthcare, quality education and plenty of recreational and leisure opportunities. In essence, our mission is to build a 'sense of place' between these strong anchors. To do so, upa has created a redevelopment master plan and is implementing a five-year strategic plan that focuses our efforts around four programmatic areas: real estate development, economic development, social and human capital development, & community/civic engagement development.

3085 W Fairlawn StFairlawn, OH 44333

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

93rd percentile

0.97x

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

501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2020

Net Margin

100th percentile

5603%

Higher net margin than 100% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

32nd percentile

-1.7%

Faster asset growth than 32% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2019 to 2020

Assets

Down

$1,447,070

Down $24,580 (-1.7%) from 2019

Liabilities

Flat

$1,398,147

Flat from 2019

Net Assets

Down

$48,923

Down $24,580 (-33%) from 2019

Revenue

Down

-$619

Down $8,119 (-108%) from 2019

Expenses

Down

$34,065

Down $501 (-1.4%) from 2019

Net Income

Down

-$34,684

Down $7,618 (-28%) from 2019

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2014: $1,778,855Liabilities 2014: $1,508,203Net Assets 2014: $270,6522014Assets 2015: $1,627,956Liabilities 2015: $1,553,721Net Assets 2015: $74,2352015Assets 2016: $1,575,402Liabilities 2016: $1,400,022Net Assets 2016: $175,3802016Assets 2017: $1,524,648Liabilities 2017: $1,398,147Net Assets 2017: $126,5012017Assets 2018: $1,498,716Liabilities 2018: $1,398,147Net Assets 2018: $100,5692018Assets 2019: $1,471,650Liabilities 2019: $1,398,147Net Assets 2019: $73,5032019Assets 2020: $1,447,070Liabilities 2020: $1,398,147Net Assets 2020: $48,9232020

Highlighted filing

2020

Assets$1,447,070
Liabilities$1,398,147
Net Assets$48,923

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $2,764,333Expenses 2014: $1,344,787Net Income 2014: $1,419,5462014Revenue 2015: $105,700Expenses 2015: $294,317Net Income 2015: -$188,6172015Revenue 2016: $230,958Expenses 2016: $129,813Net Income 2016: $101,1452016Revenue 2017: $27,496Expenses 2017: $76,375Net Income 2017: -$48,8792017Revenue 2018: $17,701Expenses 2018: $43,633Net Income 2018: -$25,9322018Revenue 2019: $7,500Expenses 2019: $34,566Net Income 2019: -$27,0662019Revenue 2020: -$619Expenses 2020: $34,065Net Income 2020: -$34,6842020

Highlighted filing

2020

Revenue-$619
Expenses$34,065
Net Income-$34,684

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 8, 2020
Return Version
2019v5.1
Gross Receipts
$10,511
Mission and Program Overview

Mission

To transform the 40 blocks surrounding the university of akron into a dense, culturally diverse, walkable urban neighborhood by capitalizing on the economic synergy of the university, hospitals, bio-tech institute, and public schools.

To implement a reinvestment strategy in the university park neighborhood of akron, oh.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,074,362$1,061,589▼ $12,773
Investments Program Related$395,920$384,790▼ $11,130
Cash and Non-Interest-Bearing Accounts$1,368$691▼ $677
Total Assets$1,471,650$1,447,070▼ $24,580
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,047,733$1,047,733→ $0
Accounts Payable and Accrued Expenses$350,414$350,414→ $0
Total Liabilities$1,398,147$1,398,147→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$73,503$48,923▼ $24,580
Total Net Assets Fund Balance$73,503$48,923▼ $24,580
Total Liabilities and Net Assets / Fund Balance$1,471,650$1,447,070▼ $24,580

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$754,949$160,141$915,090
Land$306,640-$306,640
Equipment$0$32,547$32,547
Investment Program Related Org$384,790--
Compensation and Service Providers

Board Members and Trustees

NameTitle
David W JamesPresident
J Bret TreierStatutory Agent
John FalatokTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$10,000
Program Service Revenue
$0
Investment Income
$-10,619
Other Revenue
$0
Change in Net Assets
$-34,684
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$34,065
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$22,877--$22,877
Insurance-$8,752-$8,752
Fees for Services Accounting-$1,821-$1,821
Occupancy$415--$415
Other Expenses-$200-$200
Total Functional Expenses$23,292$10,773$0$34,065
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

A draft of the form 990 is reviewed by the officers and is made available to the board of directors before it is filed.

Form 990, Part VI, Section B, Line 12C

An interested party must disclose all material facts related to a conflict of interest. The board, absent the interested party, will follow the appropriate procedure for addressing the conflict of interest. Each director, officer, and committee member is required to verbally confirm understanding of the conflict of interest policy and compliance.

Form 990, Part VI, Section B, Line 15

Compensation is recommended by an executive search committee and the board of directors provides final approval. There was no compensation paid in fye 6-30-2019.

Form 990, Part VI, Section C, Line 19

Governing documents and form 990 are available upon request.

Filing and Contact Details

Filer

Filer Name
University Park Development Corporation
EIN
34-1934402
Phone
3304751347
Address
3085 W FAIRLAWN ST, FAIRLAWN, OH 44333
Doing Business As
University Park Alliance

Signing Officer

Name
John L Falatok
Title
Treasurer
Phone
3304751347
Signed
2020-10-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David James
Formed
2000
Legal Domicile
Oh
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Cliftonlarsonallen Llp
Address
388 SOUTH MAIN STREET SUITE 420, AKRON, OH 44311
Preparer
Dan Riemenschneider
Phone
3303760100
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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/MissionDesc0TO TRANSFORM THE 40 BLOCKS SURROUNDING THE UNIVERSITY OF AKRON INTO A DENSE, CULTURALLY DIVERSE, WALKABLE URBAN NEIGHBORHOOD BY CAPITALIZING ON THE ECONOMIC SYNERGY OF THE UNIVERSITY, HOSPITALS, BIO-TECH INSTITUTE, AND PUBLIC SCHOOLS.
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IRS990ScheduleA/FactsAndCircumstancesTestTxt0ORGANIZATION HISTORY:ORGANIZED IN 2000, UNIVERSITY PARK DEVELOPMENT CORPORATION (UPDC) IS A NON-PROFIT COMMUNITY DEVELOPMENT CORPORATION WHOSE MISSION IS TO TRANSFORM THE 50 BLOCK NEIGHBORHOOD SURROUNDING THE UNIVERSITY OF AKRON INTO A REVITALIZED CULTURALLY DIVERSE, APPEALING PLACE TO LIVE WORK AND RECREATE.SOURCES OF SUPPORT: WITH ITS HEADQUARTERS WELL WITHIN IN THE BOARDERS OF UNIVERSITY PARK, THE PRIMARY SUPPORT FOR THE YEAR ENDED JUNE 30, 2020 CAME FROM THE AKRON PUBLIC SCHOOL SYSTEM. GOVERNING BODY:UPDC IS GOVERNED BY 3 BOARD MEMBERS: DAVID JAMES, SUPERINTENDENT OF THE AKRON PUBLIC SCHOOL SYSTEM, ATTORNEY BRET TRIER, A PARTNER WITH THE VORYS LAW FIRM AND A COMMUNITY ACTIVE LAWYER, AND JOHN FALATOK, A COMMUNITY BANKER WITH PREMIER BANK.PUBLICLY SUPPORTED ORGANIZATION:THE ORGANIZATION AND MISSION WAS WIDELY SUPPORTED BY THE COMMUNITY. THE PROJECT RAN INTO ECONOMIC DOWNTURNS AND EXCESSIVE COSTS AND HAS STEADILY LOST MOMENTUM. THE ORGANIZATION IS NOW IN A WIND-DOWN MODE AND REMAINS ACTIVE UNTIL A FEW REMAINING ISSUES ARE RESOLVED. CURRENT SUPPORT WAS DERIVED FROM THE 3 AFOREMENTIONED BOARD MEMBERS AND THE AKRON PUBLIC SCHOOL SYSTEM.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AN INTERESTED PARTY MUST DISCLOSE ALL MATERIAL FACTS RELATED TO A CONFLICT OF INTEREST. THE BOARD, ABSENT THE INTERESTED PARTY, WILL FOLLOW THE APPROPRIATE PROCEDURE FOR ADDRESSING THE CONFLICT OF INTEREST. EACH DIRECTOR, OFFICER, AND COMMITTEE MEMBER IS REQUIRED TO VERBALLY CONFIRM UNDERSTANDING OF THE CONFLICT OF INTEREST POLICY AND COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION IS RECOMMENDED BY AN EXECUTIVE SEARCH COMMITTEE AND THE BOARD OF DIRECTORS PROVIDES FINAL APPROVAL. THERE WAS NO COMPENSATION PAID IN FYE 6-30-2019.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST.
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IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt2AKRON CROSSROADS PROPERTY LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0261115525
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt1146 SOUTH HIGH STREET RM 610
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0UNIVERSITY PARK VILLAGE LLC
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IRS990/USAddress/AddressLine1Txt010 N MAIN STREET
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IRS990/USAddress/ZIPCd044318
IRS990/VotingMembersGoverningBodyCnt03
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IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN L FALATOK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03304751347
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0UNIVERSITY PARK DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O J FALATOK - PREMIER BANK
ReturnHeader/Filer/BusinessNameControlTxt0UNIV
ReturnHeader/Filer/EIN0341934402
ReturnHeader/Filer/PhoneNum03304751347
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.137.57.251
ReturnHeader/FilingSecurityInformation/IPDt02020-10-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm011:34:59
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0388 SOUTH MAIN STREET SUITE 420
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AKRON
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044311
ReturnHeader/PreparerPersonGrp/PhoneNum03303760100
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAN RIEMENSCHNEIDER
ReturnHeader/ReturnTs02020-10-08T14:24:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

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