Civic Intelligence

Ceda Community Development Fund

990 • Fiscal year 2016 • EIN 36-4337956

Jul 01, 2015 to Jun 30, 2016 • Filed on Apr 01, 2017

567 W Lake Street Suite 1200 SuiteChicago, IL 60661

(312) 782-2332

Siviq Scores

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

Liabilities / Assets

64th percentile

0.13x

Higher debt load relative to assets than 64% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

100th percentile

185.36x

Higher debt load relative to revenue than 100% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

1st percentile

-8825%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

38th percentile

-1.4%

Faster asset growth than 38% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-94%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Down

$514,856

Down $7,164 (-1.4%) from 2015

Net Assets

Down

$450,167

Down $30,800 (-6.4%) from 2015

Liabilities

Up

$64,689

Up $23,636 (+58%) from 2015

Revenue

Down

$349

Down $5,844 (-94%) from 2015

Expenses

Up

$31,149

Up $26,460 (+564%) from 2015

Net Income

Down

-$30,800

Down $32,304 (-2148%) from 2015

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2010: $513,637Liabilities 2010: $30,000Net Assets 2010: $483,6372010Assets 2011: $514,467Liabilities 2011: $35,468Net Assets 2011: $478,9992011Assets 2012: $515,421Liabilities 2012: $35,468Net Assets 2012: $479,9532012Assets 2013: $510,017Liabilities 2013: $31,053Net Assets 2013: $478,9642013Assets 2014: $510,516Liabilities 2014: $31,053Net Assets 2014: $479,4632014Assets 2015: $522,020Liabilities 2015: $41,053Net Assets 2015: $480,9672015Assets 2016: $514,856Liabilities 2016: $64,689Net Assets 2016: $450,1672016Assets 2017: $513,820Liabilities 2017: $73,151Net Assets 2017: $440,6692017Assets 2018: $513,297Liabilities 2018: $75,805Net Assets 2018: $437,4922018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2016

Assets$514,856
Liabilities$64,689
Net Assets$450,167

Operations Trend

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

$500K$0-$500KExpenses 2010: $35,2162010Expenses 2011: $6,7792011Expenses 2012: $6422012Expenses 2013: $1,6822013Revenue 2014: $1,110Expenses 2014: $611Net Income 2014: $4992014Revenue 2015: $6,193Expenses 2015: $4,689Net Income 2015: $1,5042015Revenue 2016: $349Expenses 2016: $31,149Net Income 2016: -$30,8002016Revenue 2017: $391Expenses 2017: $9,889Net Income 2017: -$9,4982017Revenue 2018: $956Expenses 2018: $4,133Net Income 2018: -$3,1772018Revenue 2019: $1,471Expenses 2019: $438,963Net Income 2019: -$437,4922019

Highlighted filing

2016

Revenue$349
Expenses$31,149
Net Income-$30,800
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Apr 1, 2017
Return Version
2015v3.0
Gross Receipts
$349
Mission and Program Overview

Mission

Ceda community development fund's mission is to create, retain and develop small business and economic institutions that improve the economic stability and independence of the community. Ceda community development fund aims to increase the income of its residents to increase job opportunities for the underemployed and unemployed to more equally distribute economic resources, social services, technical assistance. Ceda community development fund also provides financial literacy training that encourages and empowers low-income individuals and families toward positive action that meets basic human needs and helps them become self-sufficient. Ceda community development fund is currently inactive and is in the process of restarting its program service activities.

Ceda community development fund's mission is to create, retain and develop small business and ecomonic institutions that improve the economic stability and...see sch o

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$460,235$468,139▲ $7,904
Other Notes and Loans Receivable, Net$55,935$46,717▼ $9,218
Prepaid Expenses and Deferred Charges$5,850$0▼ $5,850
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$522,020$514,856▼ $7,164
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$41,053$64,689▲ $23,636
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$41,053$64,689▲ $23,636
Net Assets / Fund Balance
Unrestricted Net Assets$480,967$450,167▼ $30,800
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$480,967$450,167▼ $30,800
Total Liabilities and Net Assets / Fund Balance$522,020$514,856▼ $7,164
Compensation and Service Providers

Board Members and Trustees

NameTitle
Hon Ronald BeanBoard Chairman
Glen OfenlochPresident
Adrian SotoBoard Vice-Chair
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$349
Other Revenue
$0
Change in Net Assets
$-30,800
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$31,149
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
Fees for Services Legal-$29,451-$29,451
Office Expenses-$1,678-$1,678
Travel-$20-$20
Total Functional Expenses$0$31,149$0$31,149
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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$64,689
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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

The form 990 is prepared and reviewed by the organization's tax preparers and management. A copy of the form 990 is provided to the full governing body for review prior to filing with the irs.

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

All officers and trustees sign off on a conflict of interest statement annually. The organization monitors these responses and asks the potentially conflicted individuals to remove themselves from participating in the deliberations or decisions on the conflicting matter.

Form 990, Part VI, Section C, Line 19

The organization makes the form 990 available by request and also informs the public that it is available on guidestar's website. The organization maintains its own website to inform the public about its organization and programs and other activities. If any information about the governing documents or the conflict of interest policy of the organization is needed then the public is encouraged to obtain it from the organization upon request.

Form 990, Part VI. Section A, Line 7A

The board members of the organization must be appointed by the board of directors of the Community and Economic Development Association of Cook County, Inc. (CEDA).

Form 990, Part VI, Section A, Line 7B

The board of directors of CEDA must approve any amendments to the organizations by-laws, project funding guidelines and policies, and mission and vision statements.

Filing and Contact Details

Filer

Filer Name
CEDA Community Development Fund
EIN
36-4337956
In Care Of
% CEDA FINANCE OFFICE
Phone
3127822332
Address
567 W Lake Street Suite 1200 Suite, Chicago, IL 60661

Signing Officer

Name
Hon Ronald Bean
Title
Board Chair
Phone
3127822332
Signed
2017-04-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hon Ronald Bean
Formed
1999
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Bkd Llp
Address
1901 S Meyers Road Suite 500, Oakbrook Terrace, IL 60181-5209
Preparer
Jody A Gauthier
Phone
6302829500
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

Independence of the community. Ceda community development fund aims to increase the income of its residents to increase job opportunities for the underemployed and unemployed to more equally distribute economic resources, social services, technical assistance. Ceda community development fund also provides financial literacy training that encourages and empowers low-income individuals and families toward positive action that meets basic human needs and helps them become self-sufficient. Ceda community development fund is currently inactive and is in the process of restarting its program service activities.

Financial Statement Notes

Schedule D, Part X, Line 2

CEDA and its affiliates are exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. In addition, CEDA and its affiliates qualify for the charitable contribution deduction under section 170(b)(1)(A) and have been classified as "Organizations That Are Not Private Foundations" under Section 509(a)(2). CEDA and its affiliates believe that it has appropriate support for any tax position taken, including its tax exempt status, and as such, does not have any uncertain tax positions that are material to the consolidated financial statements. CEDA recognizes the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. CEDA is no longer subject to U.S. federal, state and local income tax examinations by authorities for tax years before the year ending June 30, 2013.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CEDA and its affiliates are exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. In addition, CEDA and its affiliates qualify for the charitable contribution deduction under section 170(b)(1)(A) and have been classified as "Organizations That Are Not Private Foundations" under Section 509(a)(2). CEDA and its affiliates believe that it has appropriate support for any tax position taken, including its tax exempt status, and as such, does not have any uncertain tax positions that are material to the consolidated financial statements. CEDA recognizes the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. CEDA is no longer subject to U.S. federal, state and local income tax examinations by authorities for tax years before the year ending June 30, 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART X, LINE 2
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0GLEN OFENLOCH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0Compensation of the organizations top management official is determined by the Community and Economic Development Association of Cook County, Inc. A salary survey supports the rate. The organization did not compensate any of the members of the board of directors during the fiscal year.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule J, Part 1, Line 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0INDEPENDENCE OF THE COMMUNITY. CEDA COMMUNITY DEVELOPMENT FUND AIMS TO INCREASE THE INCOME OF ITS RESIDENTS TO INCREASE JOB OPPORTUNITIES FOR THE UNDEREMPLOYED AND UNEMPLOYED TO MORE EQUALLY DISTRIBUTE ECONOMIC RESOURCES, SOCIAL SERVICES, TECHNICAL ASSISTANCE. CEDA COMMUNITY DEVELOPMENT FUND ALSO PROVIDES FINANCIAL LITERACY TRAINING THAT ENCOURAGES AND EMPOWERS LOW-INCOME INDIVIDUALS AND FAMILIES TOWARD POSITIVE ACTION THAT MEETS BASIC HUMAN NEEDS AND HELPS THEM BECOME SELF-SUFFICIENT. CEDA COMMUNITY DEVELOPMENT FUND IS CURRENTLY INACTIVE AND IS IN THE PROCESS OF RESTARTING ITS PROGRAM SERVICE ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED AND REVIEWED BY THE ORGANIZATION'S TAX PREPARERS AND MANAGEMENT. A COPY OF THE FORM 990 IS PROVIDED TO THE FULL GOVERNING BODY FOR REVIEW PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL OFFICERS AND TRUSTEES SIGN OFF ON A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE ORGANIZATION MONITORS THESE RESPONSES AND ASKS THE POTENTIALLY CONFLICTED INDIVIDUALS TO REMOVE THEMSELVES FROM PARTICIPATING IN THE DELIBERATIONS OR DECISIONS ON THE CONFLICTING MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES THE FORM 990 AVAILABLE BY REQUEST AND ALSO INFORMS THE PUBLIC THAT IT IS AVAILABLE ON GUIDESTAR'S WEBSITE. THE ORGANIZATION MAINTAINS ITS OWN WEBSITE TO INFORM THE PUBLIC ABOUT ITS ORGANIZATION AND PROGRAMS AND OTHER ACTIVITIES. IF ANY INFORMATION ABOUT THE GOVERNING DOCUMENTS OR THE CONFLICT OF INTEREST POLICY OF THE ORGANIZATION IS NEEDED THEN THE PUBLIC IS ENCOURAGED TO OBTAIN IT FROM THE ORGANIZATION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The board members of the organization must be appointed by the board of directors of the Community and Economic Development Association of Cook County, Inc. (CEDA).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The board of directors of CEDA must approve any amendments to the organizations by-laws, project funding guidelines and policies, and mission and vision statements.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART I, LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI. Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section A, Line 7b
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0COMMUNITY AND ECONOMIC DEVELOPMENT ASSOC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0362597741
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0COMMUNITY ACT
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0567 W LAKE ST 12TH FLOOR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0CHICAGO
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