Civic Intelligence

Mbi Real Estate

990 • Fiscal year 2017 • EIN 37-1535341

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 15, 2018

Organization ProfileN/A
10 W Streetsboro No 200Hudson, OH 44236

(330) 655-1366

Siviq Scores

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

Liabilities / Assets

41st percentile

0.06x

Higher debt load relative to assets than 41% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

57th percentile

2.14x

Higher debt load relative to revenue than 57% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Net Margin

35th percentile

0.0%

Higher net margin than 35% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

86th percentile

$292,900

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 205.2% of source-year revenue.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Asset Growth

62nd percentile

1.1%

Faster asset growth than 62% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

78th percentile

21%

Faster revenue growth than 78% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets41st percentile

Assets

Up

$4,895,696

Up $52,685 (+1.1%) from 2016

Net Assets

Flat

$4,590,506

Flat from 2016

Liabilities

Up

$305,190

Up $52,685 (+21%) from 2016

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin35th percentile

Revenue

Up

$142,759

Up $24,941 (+21%) from 2016

Expenses

Up

$142,759

Up $24,941 (+21%) from 2016

Net Income

Flat

$0

Flat from 2016

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $3,040,760Liabilities 2010: $298,953Net Assets 2010: $2,741,8072010Assets 2011: $3,063,263Liabilities 2011: $321,456Net Assets 2011: $2,741,8072011Assets 2012: $4,794,070Liabilities 2012: $369,928Net Assets 2012: $4,424,1422012Assets 2013: $4,911,302Liabilities 2013: $487,160Net Assets 2013: $4,424,1422013Assets 2014: $4,820,645Liabilities 2014: $230,139Net Assets 2014: $4,590,5062014Assets 2015: $4,969,008Liabilities 2015: $378,502Net Assets 2015: $4,590,5062015Assets 2016: $4,843,011Liabilities 2016: $252,505Net Assets 2016: $4,590,5062016Assets 2017: $4,895,696Liabilities 2017: $305,190Net Assets 2017: $4,590,5062017Assets 2018: $4,850,503Liabilities 2018: $259,997Net Assets 2018: $4,590,5062018Assets 2019: $4,925,439Liabilities 2019: $334,933Net Assets 2019: $4,590,5062019Assets 2020: $6,301,206Liabilities 2020: $404,070Net Assets 2020: $5,897,1362020Assets 2021: $6,199,982Liabilities 2021: $302,846Net Assets 2021: $5,897,1362021Assets 2022: $7,240,288Liabilities 2022: $368,094Net Assets 2022: $6,872,1942022Assets 2023: $9,897,913Liabilities 2023: $0Net Assets 2023: $9,897,9132023Assets 2024: $16,691,321Liabilities 2024: $1,205,835Net Assets 2024: $15,485,4862024

Highlighted filing

2017

Assets$4,895,696
Liabilities$305,190
Net Assets$4,590,506
Open 2017 Filing

Operations Trend

Revenue Growth78th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $62,9152010Expenses 2011: $85,3302011Expenses 2012: $86,2852012Revenue 2013: $200,670Expenses 2013: $200,670Net Income 2013: $02013Revenue 2014: $98,943Expenses 2014: $98,943Net Income 2014: $02014Revenue 2015: $147,935Expenses 2015: $147,935Net Income 2015: $02015Revenue 2016: $117,818Expenses 2016: $117,818Net Income 2016: $02016Revenue 2017: $142,759Expenses 2017: $142,759Net Income 2017: $02017Revenue 2018: $121,462Expenses 2018: $121,462Net Income 2018: $02018Revenue 2019: $86,551Expenses 2019: $86,551Net Income 2019: $02019Revenue 2020: $64,861Expenses 2020: $64,861Net Income 2020: $02020Revenue 2021: $46,661Expenses 2021: $46,661Net Income 2021: $02021Revenue 2022: $975,058Expenses 2022: $0Net Income 2022: $975,0582022Revenue 2023: -$47,163Expenses 2023: $0Net Income 2023: -$47,1632023Revenue 2024: $101,410Expenses 2024: $224,615Net Income 2024: -$123,2052024

Highlighted filing

2017

Revenue$142,759
Expenses$142,759
Net Income$0
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 15, 2018
Return Version
2017v2.3
Gross Receipts
$635,352
Mission and Program Overview

Mission

The corporation was formed for the exclusive purpose of holding title to property and interests in real estate, collecting income therefrom, and turning over the entire amount less expensees to its parent organization, the margaret clark morgan foundation.

Exclusive purpose of holding title to property and interests in real estate, collecting income therefrom, and turning over the amount less expenses to its parent, the margaret clark morgan foundation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,314,632$4,201,849▼ $112,783
Savings and Temporary Cash Investments$508,189$637,460▲ $129,271
Accounts Receivable$10,584$11,978▲ $1,394
Total Assets$4,843,011$4,895,696▲ $52,685
Other Assets Total$9,606$44,409▲ $34,803
Liabilities
Accounts Payable and Accrued Expenses$210,323$242,523▲ $32,200
Deferred Revenue$25,881$45,318▲ $19,437
Other Liabilities$16,301$17,349▲ $1,048
Total Liabilities$252,505$305,190▲ $52,685
Net Assets / Fund Balance
Unrestricted Net Assets$4,590,506$4,590,506→ $0
Total Net Assets Fund Balance$4,590,506$4,590,506→ $0
Total Liabilities and Net Assets / Fund Balance$4,843,011$4,895,696▲ $52,685

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,878,104$848,545$3,726,649
Land$908,340-$908,340
Leasehold Improvements$409,598$77,724$487,322
Other Land Buildings$5,807$19,203$25,010
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleOtherTotal
Robert KallstromTrustee$28,000$28,000
William McgrawChairman$28,000$28,000

Board Members and Trustees

NameTitle
Rick KellarPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$174
Other Revenue
$142,585
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$142,759
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
Payments to Affiliates-$142,759-$142,759
Total Functional Expenses$0$142,759$0$142,759
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$17,349
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are currently no other committees. If other committees are convened, documentation will be maintained.”

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

“Copies of the form 990 are distributed to the governing body, or designee of the governing body, prior to filing.”

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

“Review of disclosures and legal counsel briefing/training are held annually.”

Form 990, Part VI, Section B, Line 15

“Mbi does not pay any officers or employees. However, the board of a related entity utilizes a compensation committee, independent compensation consultant, form 990s of other organizations, written employment contract, compensation survey, and overall approval by the entire board to determine the president's compensation.”

Form 990, Part VI, Section C, Line 19

“Document access is limited to what is required by law, and would be available for inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Mbi Real Estate
EIN
37-1535341
Phone
3306551366
Address
10 W STREETSBORO NO 200, HUDSON, OH 44236

Signing Officer

Name
Rick Kellar
Title
President
Phone
3306551366
Signed
2018-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Kellar
Formed
2007
Legal Domicile
Oh
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Sikich Llp
Address
274 WHITE POND DRIVE, AKRON, OH 44320-1118
Preparer
Jill Mboyle CPA
Phone
3308646661
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“This process has not changed in the current year.”

Financial Statement Notes

PART X, LINE 2:

“Income taxes - the foundation is exempt from federal income taxes under the current provisions of section 501(c)(3) of the internal revenue code, and is a private foundation within the meaning of section 509(a). The foundation is subject to federal excise tax on certain portions of its investment income. Excise tax is accounted for on an as paid basis. Mbi is exempt from income taxes under section 501(c)(2) of the internal revenue code.”

Raw XML Appendix349 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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IRS990/ActivityOrMissionDesc0EXCLUSIVE PURPOSE OF HOLDING TITLE TO PROPERTY AND INTERESTS IN REAL ESTATE, COLLECTING INCOME THEREFROM, AND TURNING OVER THE AMOUNT LESS EXPENSES TO ITS PARENT, THE MARGARET CLARK MORGAN FOUNDATION.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
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IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990/MissionDesc0THE CORPORATION WAS FORMED FOR THE EXCLUSIVE PURPOSE OF HOLDING TITLE TO PROPERTY AND INTERESTS IN REAL ESTATE, COLLECTING INCOME THEREFROM, AND TURNING OVER THE ENTIRE AMOUNT LESS EXPENSEES TO ITS PARENT ORGANIZATION, THE MARGARET CLARK MORGAN FOUNDATION.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAXES - THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE CURRENT PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND IS A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A). THE FOUNDATION IS SUBJECT TO FEDERAL EXCISE TAX ON CERTAIN PORTIONS OF ITS INVESTMENT INCOME. EXCISE TAX IS ACCOUNTED FOR ON AN AS PAID BASIS. MBI IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(2) OF THE INTERNAL REVENUE CODE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE CURRENTLY NO OTHER COMMITTEES. IF OTHER COMMITTEES ARE CONVENED, DOCUMENTATION WILL BE MAINTAINED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPIES OF THE FORM 990 ARE DISTRIBUTED TO THE GOVERNING BODY, OR DESIGNEE OF THE GOVERNING BODY, PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEW OF DISCLOSURES AND LEGAL COUNSEL BRIEFING/TRAINING ARE HELD ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MBI DOES NOT PAY ANY OFFICERS OR EMPLOYEES. HOWEVER, THE BOARD OF A RELATED ENTITY UTILIZES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990S OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY, AND OVERALL APPROVAL BY THE ENTIRE BOARD TO DETERMINE THE PRESIDENT'S COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENT ACCESS IS LIMITED TO WHAT IS REQUIRED BY LAW, AND WOULD BE AVAILABLE FOR INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THIS PROCESS HAS NOT CHANGED IN THE CURRENT YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
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 B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0THE MARGARET CLARK MORGAN FOUNDATION
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt065208
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1142759
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0THE MARGARET CLARK MORGAN FOUNDATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1THE MARGARET CLARK MORGAN FOUNDATION
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1R
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd01
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04843011
IRS990/TotalAssetsEOYAmt04895696
IRS990/TotalAssetsGrp/BOYAmt04843011
IRS990/TotalAssetsGrp/EOYAmt04895696
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0142759
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0142759
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0252505
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0142585
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt04590506
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IRS990/USAddress/ZIPCd044236
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICK KELLAR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03306551366
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MBI REAL ESTATE
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ReturnHeader/Filer/PhoneNum03306551366
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ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm009:53:44
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363168081
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SIKICH LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0274 WHITE POND DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AKRON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0443201118
ReturnHeader/PreparerPersonGrp/PhoneNum03308646661
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JILL MBOYLE CPA
ReturnHeader/ReturnTs02018-10-11T12:57:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,895,696
Liabilities
$305,190
Net assets
$4,590,506
Revenue
$142,759
Expenses
$142,759
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.7$1.21$15.5$0.10$0.22$0.12
2023Detailed filing. Detailed filing data is available for this year.$9.90$0.00$9.90$0.05$0.00$0.05
2022Detailed filing. Detailed filing data is available for this year.$7.24$0.37$6.87$0.98$0.00$0.98
2021Detailed filing. Detailed filing data is available for this year.$6.20$0.30$5.90$0.05$0.05$0.00
2020Detailed filing. Detailed filing data is available for this year.$6.30$0.40$5.90$0.06$0.06$0.00
2019Detailed filing. Detailed filing data is available for this year.$4.93$0.33$4.59$0.09$0.09$0.00
2018Detailed filing. Detailed filing data is available for this year.$4.85$0.26$4.59$0.12$0.12$0.00
2017Detailed filing. Detailed filing data is available for this year.$4.90$0.31$4.59$0.14$0.14$0.00
2016Detailed filing. Detailed filing data is available for this year.$4.84$0.25$4.59$0.12$0.12$0.00
2015Detailed filing. Detailed filing data is available for this year.$4.97$0.38$4.59$0.15$0.15$0.00
2014Detailed filing. Detailed filing data is available for this year.$4.82$0.23$4.59$0.10$0.10$0.00
2013Detailed filing. Detailed filing data is available for this year.$4.91$0.49$4.42$0.20$0.20$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.79$0.37$4.42$0.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.06$0.32$2.74$0.09
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.04$0.30$2.74$0.06