Civic Intelligence

Renaissance Development Fund

990 • Fiscal year 2016 • EIN 38-3367429

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 13, 2017

Organization ProfileCSTONEALLIANCE.ORG
80 W Main StBenton Harbor, MI 49022

(269) 925-6100

Siviq Scores

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

Liabilities / Assets

95th percentile

1.14x

Higher debt load relative to assets than 95% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

100th percentile

76.18x

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

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Net Margin

2nd percentile

-129%

Higher net margin than 2% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

8th percentile

$125,877

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 15.1% of source-year revenue.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Asset Growth

5th percentile

-12%

Faster asset growth than 5% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

2nd percentile

-75%

Faster revenue growth than 2% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$56,038,998

Down $7,868,671 (-12%) from 2015

Net Assets

Up

-$7,667,959

Up $312,048 (+3.9%) from 2015

Liabilities

Down

$63,706,957

Down $8,180,719 (-11%) from 2015

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin2nd percentile

Revenue

Down

$836,254

Down $2,504,821 (-75%) from 2015

Expenses

Down

$1,913,647

Down $3,701,507 (-66%) from 2015

Net Income

Up

-$1,077,393

Up $1,196,686 (+53%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

2016

Assets$56,038,998
Liabilities$63,706,957
Net Assets-$7,667,959
Open 2016 Filing

Operations Trend

Revenue Growth2nd percentile

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

2016

Revenue$836,254
Expenses$1,913,647
Net Income-$1,077,393
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 13, 2017
Return Version
2016v3.0
Gross Receipts
$1,430,396
Mission and Program Overview

Mission

The 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.

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
Other Notes and Loans Receivable, Net$4,419,908$4,478,940▲ $59,032
Savings and Temporary Cash Investments$1,758,412$2,192,699▲ $434,287
Land, Buildings, and Equipment, Net$1,221,696$817,985▼ $403,711
Inventories for Sale or Use$74,664$0▼ $74,664
Prepaid Expenses and Deferred Charges$47,147$0▼ $47,147
Investments Other Securities$38,175$38,094▼ $81
Accounts Receivable$66,006$35,038▼ $30,968
Investments Program Related$-6,786,206$-3,047,245▲ $3,738,961
Total Assets$63,907,669$56,038,998▼ $7,868,671
Other Assets Total$63,067,867$51,523,487▼ $11,544,380
Liabilities
Mortgage Notes Payable Secured by Investment Property$50,138,828$46,162,416▼ $3,976,412
Other Liabilities$21,218,536$16,887,773▼ $4,330,763
Accounts Payable and Accrued Expenses$205,046$656,768▲ $451,722
Deferred Revenue$325,266$0▼ $325,266
Total Liabilities$71,887,676$63,706,957▼ $8,180,719
Net Assets / Fund Balance
Temporarily Rstr Net Assets$228,954$229,222▲ $268
Unrestricted Net Assets$-8,208,961$-7,897,181▲ $311,780
Total Net Assets Fund Balance$-7,980,007$-7,667,959▲ $312,048
Total Liabilities and Net Assets / Fund Balance$63,907,669$56,038,998▼ $7,868,671

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$472,394-$472,394
Land$217,522-$217,522
Buildings$128,069$29,658$157,727
Other Assets Org$193,284--
Compensation and Service Providers
Top Officer Pay8th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Greg VaughnPresidentPT$125,877$125,877
Ron GriesingerSecretary/CFOPT$110,850$110,850

Board Members and Trustees

NameTitle
Jim TomczykVice Chair
Alan BerryDirector
David BlyDirector
Ken AnkliDirector
David SchafferTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Evergreen Development CompanyManagement Services400 RIVERVIEW DR, Benton Harbor, MI 49022$163,038
Revenue and Support

Revenue Composition

Contributions and Grants
$37,690
Program Service Revenue
$17,712
Investment Income
$287,559
Other Revenue
$493,293
All Other Contributions
$10,000
Change in Net Assets
$-1,077,393
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,913,147
Grants and Similar Amounts Paid$500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,354,481--$1,354,481
Fees for Services Management-$163,038-$163,038
Fees for Services Other$58,114$48,494-$106,608
Fees for Services Legal$435$69,243-$69,678
Depreciation Depletion$51,539--$51,539
Fees for Services Accounting-$50,265-$50,265
Occupancy$33,797$7,200-$40,997
Office Expenses$16,367$19,012-$35,379
Insurance$3,751$27,384-$31,135
Advertising$1,770--$1,770
Travel$1,396--$1,396
Grants to Domestic Individuals$500--$500
Other Expenses$21--$21
Total Functional Expenses$1,529,011$384,636$0$1,913,647
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$15,200,697
due to harbor shores community redevelopment, inc$1,587,076
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 11B

“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. Compensation Committee uses comparable data to review president/CEO compensation. 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 2016.”

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

Filer Name
Renaissance Development Fund
EIN
38-3367429
Phone
2699256100
Address
80 W MAIN ST, BENTON HARBOR, MI 49022

Signing Officer

Name
ron griesinger
Title
CFO
Phone
2699256100
Signed
2017-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory Vaughn
Formed
1997
Legal Domicile
Mi
Voting Board Members
6
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Plante & Moran Pllc
Address
511 Renaissance Dr Ste 120, St Joseph, MI 49085
Preparer
Kenley Penner CPA Plante Moran PLLC
Phone
2699828000
Supplemental Narrative

Additional Explanations

Form 990, Part III, line 3

“Golf course operations were transferred to cornerstone public asset fund, inc, a related tax-exempt entity, effective as of january 1, 2016.”

Form 990, Part XI, line 9:

“Change in interest harbor shores bhbt land development, llc -1,616,065. Change in interest harbor shores hv construction, llc 3,005,506.”

FORM 990, PART XII, LINE 2C:

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

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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/NetRentalIncomeOrLossGrp/ExclusionAmt011275
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt011275
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoncashContributionsAmt010000
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt07200
IRS990/OccupancyGrp/ProgramServicesAmt033797
IRS990/OccupancyGrp/TotalAmt040997
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt019012
IRS990/OfficeExpensesGrp/ProgramServicesAmt016367
IRS990/OfficeExpensesGrp/TotalAmt035379
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt063067867
IRS990/OtherAssetsTotalGrp/EOYAmt051523487
IRS990/OtherChangesInNetAssetsAmt01389441
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS
IRS990/OtherExpensesGrp/ProgramServicesAmt06840
IRS990/OtherExpensesGrp/ProgramServicesAmt121
IRS990/OtherExpensesGrp/TotalAmt06840
IRS990/OtherExpensesGrp/TotalAmt121
IRS990/OtherLiabilitiesGrp/BOYAmt021218536
IRS990/OtherLiabilitiesGrp/EOYAmt016887773
IRS990/OtherRevenueMiscGrp/BusinessCd0236000
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0TIF REIMBURSEMENT INCOME
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt06377
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0475641
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0475641
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt16377
IRS990/OtherRevenueTotalAmt0482018
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt04419908
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt04478940
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt047147
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0GREGORY VAUGHN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM LOAN INTEREST AND FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt017712
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt017712
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt010427168
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-9711776
IRS990/PYOtherExpensesAmt05615154
IRS990/PYOtherRevenueAmt0341948
IRS990/PYProgramServiceRevenueAmt02283735
IRS990/PYRevenuesLessExpensesAmt0-2274079
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt05615154
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03341075
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-1077393
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt011275
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0493353
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01758412
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02192699
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0382772476
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0CORNERSTONE ALLIANCE
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/BookValueAmt0128069
IRS990ScheduleD/BuildingsGrp/DepreciationAmt029658
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0157727
IRS990ScheduleD/LandGrp/BookValueAmt0217522
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0217522
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt012966184
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt17782424
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2320392
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3151256
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt415200697
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt535000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt633333
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt714840917
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt8193284
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM HARBOR SHORES BHBT LAND DEVELOPMENT, LLC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM HARBOR SHORES HV CONSTRUCTION, LLC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM CORNERSTONE ALLIANCE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESTRICTED CASH
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4TIF RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5DEBT ISSUANCE COST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc6DEFERRED FINANCING FEES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc7DUE FROM CPAF
IRS990ScheduleD/OtherAssetsOrgGrp/Desc8ASSETS HELD FOR SALE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0472394
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0472394
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01587076
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt115200697
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/TotalBookValueLandBuildingsAmt0817985
IRS990ScheduleD/TotalBookValueOtherAssetsAmt051523487
IRS990ScheduleD/TotalLiabilityAmt016887773
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GOLF COURSE OPERATIONS WERE TRANSFERRED TO CORNERSTONE PUBLIC ASSET FUND, INC, A RELATED TAX-EXEMPT ENTITY, EFFECTIVE AS OF JANUARY 1, 2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CORNERSTONE ALLIANCE HAS THE POWER TO APPOINT THE BOARD OF DIRECTORS OF RENAISSANCE DEVELOPMENT FUND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CFO 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION 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. Compensation Committee uses comparable data to review president/CEO compensation. 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 2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE RENAISSANCE DEVELOPMENT OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CHANGE IN INTEREST HARBOR SHORES BHBT LAND DEVELOPMENT, LLC -1,616,065. CHANGE IN INTEREST HARBOR SHORES HV CONSTRUCTION, LLC 3,005,506.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE AUDIT OVERSIGHT AND SELECTION PROCESSES HAVE NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
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 XI, line 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd01
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0RENAISSANCE DEVELOPMENT FUND
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1HARBOR SHORES COMMUNITY REDEVELOPMENT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0HARBOR SHORES COMMUNITY REDEVELOPMENT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1HARBOR SHORES FINANCE LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0263368306
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt052132786
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt14235221
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1MI
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1LENDING
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0629846
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt1132438
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0400 RIVERVIEW DRIVE SUITE 420

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$56,038,998
Liabilities
$63,706,957
Net assets
-$7,667,959
Revenue
$836,254
Expenses
$1,913,647
Net income
-$1,077,393
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
2016Detailed filing. Detailed filing data is available for this year.$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
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$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