Civic Intelligence

Renaissance Development Fund

990 • Fiscal year 2013 • EIN 38-3367429

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 05, 2014

38 W Wall StreetBenton Harbor, MI 49022

(269) 925-6100

Siviq Scores

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

Liabilities / Assets

94th percentile

1.06x

Higher debt load relative to assets than 94% of similar nonprofits.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2013

Liabilities / Revenue

91st percentile

4.44x

Higher debt load relative to revenue than 91% of similar nonprofits.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2013

Net Margin

92nd percentile

56%

Higher net margin than 92% of similar nonprofits.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2013

Top Officer Pay

14th percentile

$139,829

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2013

Asset Growth

3rd percentile

-17%

Faster asset growth than 3% of similar nonprofits.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Down

$71,591,843

Down $14,286,111 (-17%) from 2012

Net Assets

Down

-$4,447,790

Down $2,081,876 (-88%) from 2012

Liabilities

Down

$76,039,633

Down $12,204,235 (-14%) from 2012

Revenue

$17,136,640

No earlier filing loaded for comparison.

Expenses

Up

$7,539,996

Up $654,883 (+9.5%) from 2012

Net Income

$9,596,644

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$100M$50M$0-$50MAssets 2010: $68,596,991Liabilities 2010: $66,184,913Net Assets 2010: $2,412,0782010Assets 2011: $74,327,213Liabilities 2011: $77,928,052Net Assets 2011: -$3,600,8392011Assets 2012: $85,877,954Liabilities 2012: $88,243,868Net Assets 2012: -$2,365,9142012Assets 2013: $71,591,843Liabilities 2013: $76,039,633Net Assets 2013: -$4,447,7902013Assets 2014: $71,353,063Liabilities 2014: $74,750,691Net Assets 2014: -$3,397,6282014Assets 2015: $63,907,669Liabilities 2015: $71,887,676Net Assets 2015: -$7,980,0072015Assets 2016: $56,038,998Liabilities 2016: $63,706,957Net Assets 2016: -$7,667,9592016Assets 2017: $69,680,956Liabilities 2017: $86,185,605Net Assets 2017: -$16,504,6492017Assets 2018: $63,466,471Liabilities 2018: $82,399,735Net Assets 2018: -$18,933,2642018Assets 2019: $28,671,588Liabilities 2019: $37,664,676Net Assets 2019: -$8,993,0882019Assets 2020: $29,918,588Liabilities 2020: $35,250,859Net Assets 2020: -$5,332,2712020Assets 2021: $26,943,889Liabilities 2021: $32,965,079Net Assets 2021: -$6,021,1902021Assets 2022: $22,142,034Liabilities 2022: $32,345,602Net Assets 2022: -$10,203,5682022Assets 2023: $20,236,384Liabilities 2023: $29,543,621Net Assets 2023: -$9,307,2372023Assets 2024: $19,841,908Liabilities 2024: $27,897,571Net Assets 2024: -$8,055,6632024

Highlighted filing

2013

Assets$71,591,843
Liabilities$76,039,633
Net Assets-$4,447,790

Operations Trend

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

$20M$10M$0-$10MExpenses 2010: $4,786,7772010Expenses 2011: $6,414,3652011Expenses 2012: $6,885,1132012Revenue 2013: $17,136,640Expenses 2013: $7,539,996Net Income 2013: $9,596,6442013Revenue 2014: $7,891,980Expenses 2014: $6,272,046Net Income 2014: $1,619,9342014Revenue 2015: $3,341,075Expenses 2015: $5,615,154Net Income 2015: -$2,274,0792015Revenue 2016: $836,254Expenses 2016: $1,913,647Net Income 2016: -$1,077,3932016Revenue 2017: $882,106Expenses 2017: $4,248,796Net Income 2017: -$3,366,6902017Revenue 2018: $2,098,010Expenses 2018: $4,316,009Net Income 2018: -$2,217,9992018Revenue 2019: $14,531,595Expenses 2019: $4,388,034Net Income 2019: $10,143,5612019Revenue 2020: $6,916,378Expenses 2020: $3,255,561Net Income 2020: $3,660,8172020Revenue 2021: $2,827,375Expenses 2021: $3,516,294Net Income 2021: -$688,9192021Revenue 2022: $2,743,175Expenses 2022: $2,820,695Net Income 2022: -$77,5202022Revenue 2023: $5,877,883Expenses 2023: $3,204,065Net Income 2023: $2,673,8182023Revenue 2024: $4,163,048Expenses 2024: $3,861,069Net Income 2024: $301,9792024

Highlighted filing

2013

Revenue$17,136,640
Expenses$7,539,996
Net Income$9,596,644
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 5, 2014
Return Version
2013v3.0
Gross Receipts
$17,168,140
Mission and Program Overview

Mission

The organization, partnering with the cornerstone alliance, engages in the development of economic growth for the cities of benton harbor and st. Joseph and the townships of benton, lincoln, and royalton.

The renaissance development fund is engaged in the development and implementation of economic growth for the cities of benton harbor and st. Joseph and the townships of benton, lincoln and royalton.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$39,224,757$38,271,171▼ $953,586
Other Notes and Loans Receivable, Net$461,985$4,524,105▲ $4,062,120
Savings and Temporary Cash Investments$1,943,221$1,589,784▼ $353,437
Accounts Receivable$80,159$110,449▲ $30,290
Prepaid Expenses and Deferred Charges$78,117$100,661▲ $22,544
Inventories for Sale or Use$44,077$67,199▲ $23,122
Investments Other Securities$62,049$47,535▼ $14,514
Investments Program Related$0$-16,870,236▼ $16,870,236
Total Assets$85,877,954$71,591,843▼ $14,286,111
Other Assets Total$43,983,589$43,751,175▼ $232,414
Liabilities
Mortgage Notes Payable Secured by Investment Property$54,238,648$55,635,273▲ $1,396,625
Other Liabilities$33,381,972$19,675,297▼ $13,706,675
Accounts Payable and Accrued Expenses$499,860$396,080▼ $103,780
Deferred Revenue$123,388$332,983▲ $209,595
Total Liabilities$88,243,868$76,039,633▼ $12,204,235
Net Assets / Fund Balance
Temporarily Rstr Net Assets$657,369$228,459▼ $428,910
Unrestricted Net Assets$-3,023,283$-4,676,249▼ $1,652,966
Total Net Assets Fund Balance$-2,365,914$-4,447,790▼ $2,081,876
Total Liabilities and Net Assets / Fund Balance$85,877,954$71,591,843▼ $14,286,111

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$23,285,342$1,422,281$24,707,623
Land$8,757,052-$8,757,052
Buildings$5,589,508$628,075$6,217,583
Equipment$639,269$1,424,791$2,064,060
Other Assets Org$45,833--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Victoria PrattDirector-$139,829$139,829
Greg VaughnPresidentPT$124,203$124,203
Ron GriesingerCFO/secretary/treasurer (non-voting)PT$109,982$109,982

Board Members and Trustees

NameTitle
Jim TomczykVice Chair
Alan BerryDirector
Bill HanleyDirector
David BlyDirector
Ken AnkliDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Evergreen Development CompanyManagement Services-$1,047,731
Dickinson Wright PllcLegal Services-$806,636
Kemper SportsGolf Management Services-$161,920
Revenue and Support

Revenue Composition

Contributions and Grants
$14,267,351
Program Service Revenue
$2,495,417
Investment Income
$70,744
Other Revenue
$303,128
All Other Contributions
$7,050,000
Change in Net Assets
$9,596,644

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Commercial1$7,210,000Fair Market Value
Total Noncash Contributions1$7,210,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,539,996
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 Other$1,841,440$44,518-$1,885,958
Depreciation Depletion$1,029,097--$1,029,097
Fees for Services Legal$7,829$985,261-$993,090
Interest$878,914--$878,914
Fees for Services Management-$723,465-$723,465
Occupancy$484,104$7,200-$491,304
Fees for Services Accounting-$78,500-$78,500
Advertising$54,292$21,281-$75,573
Insurance$4,121$36,516-$40,637
Office Expenses$3,396$12,684-$16,080
Other Expenses$11,060$1,426-$12,486
Travel$64$4,689-$4,753
Conferences and Meetings-$450-$450
Total Functional Expenses$5,391,678$2,148,318$0$7,539,996
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
Deferred Tif Revenue$13,397,991
Due to Harbor Shores Community Redevelopment, Inc$6,177,306
Due to Harbor Shores Hv Construction, LLC$100,000
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 7A

Cornerstone alliance has the power to appoint the board of directors of renaissance development fund

Form 990, Part VI, Section B, Line 11

Cfo of the organization reviews the draft 990. After their review, management of the organization emails a draft copy of the form 990 to all board members for their review prior to filing.

Form 990, Part VI, Section B, Line 15

Compensation of the organization's officers is determined by the related organization from which they are compensated. The related organization's process is as follows: compensation for the president/ceo is reviewed and approved by the compensation committee. The compensation for the remaining officers and key employees is reviewed and approved by the president/ceo. The most recent year for this evaluation was 2013.

Form 990, Part VI, Section C, Line 18

The form 990 is available upon request from the renaissance development office.

Form 990, Part VI, Section C, Line 19

A copy of the organization's governing documents, conflict of interest policy, and financial statements are available upon request at the renaissance development office.

Filing and Contact Details

Filer

EIN
38-3367429
Phone
2699256100

Signing Officer

Name
Ron Griesinger
Title
CFO
Phone
2699256100
Signed
2014-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory Vaughn
Formed
1997
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Preparer
Kenley Penner CPA
Phone
2699828000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other professional services: program service expenses 63,234. Management and general expenses 44,518. Fundraising expenses 0. Total expenses 107,752. Kemper golf management services: program service expenses 1,778,206. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,778,206.

FORM 990, PART XI, LINE 9:

Change in interest harbor shores bhbt land development, llc -7,651,032. Change in interest harbor shores hv construction, llc -4,027,488.

FORM 990, PART XII, LINE 2C:

The audit oversight and selection processes have not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The organization qualifies as a tax-exempt organization under section 501(c)(3) of the internal revenue code and therefore is not subject to federal and state income taxes. Accordingly, contributions to the organization are deductible by the donor for federal income tax purposes. The wholly owned llcs are disregarded for tax purposes and are combined with the organization. The llcs with partial ownership are treated as partnerships for tax purposes. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the organization and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the irs or other applicable taxing authorities. Management has analyzed the tax positions taken by the organization and has concluded that as of december 31, 2013 and 2012, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the consolidated financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations for years prior to 2010.

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IRS990/InsuranceGrp/ProgramServicesAmt04121
IRS990/InsuranceGrp/TotalAmt040637
IRS990/InterestGrp/ProgramServicesAmt0878914
IRS990/InterestGrp/TotalAmt0878914
IRS990/InventoriesForSaleOrUseGrp/BOYAmt044077
IRS990/InventoriesForSaleOrUseGrp/EOYAmt067199
IRS990/InvestmentIncomeGrp/ExclusionAmt026088
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt026088
IRS990/InvestmentInJointVentureInd01
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt062049
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt047535
IRS990/InvestmentsProgramRelatedGrp/BOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt0-16870236
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt03475147
IRS990/LandBldgEquipBasisNetGrp/BOYAmt039224757
IRS990/LandBldgEquipBasisNetGrp/EOYAmt038271171
IRS990/LandBldgEquipCostOrOtherBssAmt041746318
IRS990/LegalDomicileStateCd0MI
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt031500
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE ORGANIZATION, PARTNERING WITH CORNERSTONE ALLIANCE, ENGAGES IN THE DEVELOPMENT OF ECONOMIC GROWTH FOR THE CITIES OF BENTON HARBOR AND ST. JOSEPH AND THE TOWNSHIPS OF BENTON, LINCOLN AND ROYALTON.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt054238648
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt055635273
IRS990/NetAssetsOrFundBalancesBOYAmt0-2365914
IRS990/NetAssetsOrFundBalancesEOYAmt0-4447790
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt044656
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt044656
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt044442
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt044442
IRS990/NetUnrelatedBusTxblIncmAmt0-14062
IRS990/NoncashContributionsAmt07210000
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt07200
IRS990/OccupancyGrp/ProgramServicesAmt0484104
IRS990/OccupancyGrp/TotalAmt0491304
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt012684
IRS990/OfficeExpensesGrp/ProgramServicesAmt03396
IRS990/OfficeExpensesGrp/TotalAmt016080
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt043983589
IRS990/OtherAssetsTotalGrp/EOYAmt043751175
IRS990/OtherChangesInNetAssetsAmt0-11678520
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1GOLF COURSE SUPPLIES
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0232328
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11426
IRS990/OtherExpensesGrp/ProgramServicesAmt0596370
IRS990/OtherExpensesGrp/ProgramServicesAmt1480991
IRS990/OtherExpensesGrp/ProgramServicesAmt211060
IRS990/OtherExpensesGrp/TotalAmt0828698
IRS990/OtherExpensesGrp/TotalAmt1480991
IRS990/OtherExpensesGrp/TotalAmt212486
IRS990/OtherLiabilitiesGrp/BOYAmt033381972
IRS990/OtherLiabilitiesGrp/EOYAmt019675297
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900999
IRS990/OtherRevenueMiscGrp/BusinessCd2525990
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/Desc1TIF REIMBURSEMENT INCOME
IRS990/OtherRevenueMiscGrp/Desc2PRODUCT DESIGN SERVICES
IRS990/OtherRevenueMiscGrp/ExclusionAmt0215541
IRS990/OtherRevenueMiscGrp/ExclusionAmt157661
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0215541
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt157661
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt2-14516
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt0-14516
IRS990/OtherRevenueTotalAmt0258686
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0461985
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt04524105
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt078117
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0100661
IRS990/PrincipalOfficerNm0GREGORY VAUGHN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0713910
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0GOLF COURSE OPERATIONS
IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM LOAN INTEREST AND FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02467157
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt128260
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02467157
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt128260
IRS990/ProgSrvcAccomActy2Grp/Desc0OPERATION OF A GOLF COURSE TO SERVE AS A CATALYST FOR ECONOMIC DEVELOPMENT.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt05240679
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt02467157
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt010079314
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03088
IRS990/PYOtherExpensesAmt06885113
IRS990/PYOtherRevenueAmt044174
IRS990/PYProgramServiceRevenueAmt02660273
IRS990/PYRevenuesLessExpensesAmt05901736
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt06885113
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt012786849
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt09596644
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RelatedOrganizationsAmt07210000
IRS990/RentalIncomeOrLossGrp/RealAmt044442
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt028260
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01943221
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01589784
IRS990ScheduleA/CertificationInd0X
IRS990ScheduleA/Contribution35ControlledInd00
IRS990ScheduleA/ContributionControllerInd00
IRS990ScheduleA/ContributionFamilyInd00
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0382772476
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc07
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine10CORNERSTONE ALLIANCE
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd01
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt05589508
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0628075
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06217583
IRS990ScheduleD/EquipmentGrp/BookValueAmt0639269
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01424791
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02064060
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt08757052
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt08757052
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt023285342
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01422281
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt024707623
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04243037
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt117446139
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt26580439
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3469923
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt464000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt51363813
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt613397991
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt7140000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt845833
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM HARBOR SHORES BHBT LAND DEVELOPMENT, LLC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM HARBOR SHORES COMMUNITY REDEVELOPMENT, INC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM HARBOR SHORES HV CONSTRUCTION, LLC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DUE FROM CORNERSTONE ALLIANCE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4DUE FROM EVERGREEN
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5RESTRICTED CASH
IRS990ScheduleD/OtherAssetsOrgGrp/Desc6TIF RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc7DEBT ISSUANCE COST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc8DEFERRED FINANCING FEES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06177306
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt113397991
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2100000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO HARBOR SHORES COMMUNITY REDEVELOPMENT, INC
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED TIF REVENUE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO HARBOR SHORES HV CONSTRUCTION, LLC
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THEREFORE IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES. ACCORDINGLY, CONTRIBUTIONS TO THE ORGANIZATION ARE DEDUCTIBLE BY THE DONOR FOR FEDERAL INCOME TAX PURPOSES. THE WHOLLY OWNED LLCS ARE DISREGARDED FOR TAX PURPOSES AND ARE COMBINED WITH THE ORGANIZATION. THE LLCS WITH PARTIAL OWNERSHIP ARE TREATED AS PARTNERSHIPS FOR TAX PURPOSES. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2013 AND 2012, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2010.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt038271171
IRS990ScheduleD/TotalBookValueOtherAssetsAmt043751175
IRS990ScheduleD/TotalLiabilityAmt019675297
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/RealEstateCommercialGrp/ContributionCnt01
IRS990ScheduleM/RealEstateCommercialGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE
IRS990ScheduleM/RealEstateCommercialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateCommercialGrp/NoncashContributionsRptF990Amt07210000
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.8$27.9$8.06$4.16$3.86$0.30
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.2$29.5$9.31$5.88$3.20$2.67
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.1$32.3$10.2$2.74$2.82$0.08
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$26.9$33.0$6.02$2.83$3.52$0.69
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.9$35.3$5.33$6.92$3.26$3.66
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.7$37.7$8.99$14.5$4.39$10.1
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$63.5$82.4$18.9$2.10$4.32$2.22
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$69.7$86.2$16.5$0.88$4.25$3.37
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$56.0$63.7$7.67$0.84$1.91$1.08
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$63.9$71.9$7.98$3.34$5.62$2.27
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$71.4$74.8$3.40$7.89$6.27$1.62
2013Detailed filing. Detailed filing data is available for this year.$71.6$76.0$4.45$17.1$7.54$9.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$85.9$88.2$2.37$6.89
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$74.3$77.9$3.60$6.41
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.6$66.2$2.41$4.79