Civic Intelligence

Renaissance Development Fund

990 • Fiscal year 2022 • EIN 38-3367429

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 24, 2023

Organization ProfileN/A
201 Graham AvenueBenton Harbor, MI 49022

(269) 925-6100

Siviq Scores

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

Liabilities / Assets

98th percentile

1.46x

Higher debt load relative to assets than 98% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

11.79x

Higher debt load relative to revenue than 97% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

25th percentile

-2.8%

Higher net margin than 25% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

73rd percentile

$262,776

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 9.6% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

7th percentile

-18%

Faster asset growth than 7% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

36th percentile

-3.0%

Faster revenue growth than 36% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$22,142,034

Down $4,801,855 (-18%) from 2021

Net Assets

Down

-$10,203,568

Down $4,182,378 (-69%) from 2021

Liabilities

Down

$32,345,602

Down $619,477 (-1.9%) from 2021

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin25th percentile

Revenue

Down

$2,743,175

Down $84,200 (-3.0%) from 2021

Expenses

Down

$2,820,695

Down $695,599 (-20%) from 2021

Net Income

Up

-$77,520

Up $611,399 (+89%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth7th 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

2022

Assets$22,142,034
Liabilities$32,345,602
Net Assets-$10,203,568
Open 2022 Filing

Operations Trend

Revenue Growth36th 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

2022

Revenue$2,743,175
Expenses$2,820,695
Net Income-$77,520
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 24, 2023
Return Version
2022v5.0
Gross Receipts
$2,833,765
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
Land, Buildings, and Equipment, Net$21,668,484$17,677,196▼ $3,991,288
Cash and Non-Interest-Bearing Accounts$4,483,249$3,140,851▼ $1,342,398
Other Notes and Loans Receivable, Net$379,227$652,136▲ $272,909
Accounts Receivable$407,771$424,396▲ $16,625
Prepaid Expenses and Deferred Charges$5,158$33,215▲ $28,057
Total Assets$26,943,889$22,142,034▼ $4,801,855
Other Assets Total$0$214,240▲ $214,240
Liabilities
Mortgage Notes Payable Secured by Investment Property$32,578,710$31,820,027▼ $758,683
Accounts Payable and Accrued Expenses$337,292$522,675▲ $185,383
Other Liabilities$49,077$2,900▼ $46,177
Total Liabilities$32,965,079$32,345,602▼ $619,477
Net Assets / Fund Balance
Net Assets With Donor Restrictions$232,087$0▼ $232,087
Net Assets Without Donor Restrictions$-6,253,277$-10,203,568▼ $3,950,291
Total Net Assets Fund Balance$-6,021,190$-10,203,568▼ $4,182,378
Total Liabilities and Net Assets / Fund Balance$26,943,889$22,142,034▼ $4,801,855

Asset Categories

AssetBook ValueDepreciationBasis
Land$14,668,190-$14,668,190
Buildings$3,000,856$197,943-
Equipment$8,150--
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Alan BerryPresident
Robert ClevelandVice President/treasurer
David BlyDirector
Ken AnkliDirector
Kim VincentDirector
Stacey StephensDirector
Stephanie Scott-simsDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Evergreen Development CompanyManagement Services400 RIVERVIEW DR, Benton Harbor, MI 49022$258,918
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$498,043
Investment Income
$8,484
Other Revenue
$2,236,648
Change in Net Assets
$-77,520

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,743,175
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$90,000
Total Revenue per Audited Statements
$2,833,175
Total Revenue per Form 990
$2,743,175
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,820,695
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
Interest$1,359,860--$1,359,860
Fees for Services Management-$364,674-$364,674
Fees for Services Other-$292,143-$292,143
Occupancy$228,420--$228,420
Office Expenses$21,640$145,578-$167,218
Depreciation Depletion$50,000$29,784-$79,784
Advertising-$74,270-$74,270
Insurance-$43,853-$43,853
Fees for Services Legal-$41,197-$41,197
Fees for Services Accounting-$16,210-$16,210
Other Expenses$82,377$10,000-$10,000
Total Functional Expenses$1,742,297$1,078,398$0$2,820,695

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,910,695
Expenses per Audited Statements$2,820,695
Total Expenses per Form 990$2,820,695
Expenses Not Reported on Form 990$90,000
Expenses Not Reported on Financial Statements$0
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
Security Deposit$2,900
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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 B, Line 11B

“Both the president of the organization and the organization's accounting consultant review 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 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.”

Form 990, Part VI, Section C, Line 19

“Governing documents and conflict of interest policy are not available for public inspection. Financial statements are summarized in an annual report which is available to the public”

Filing and Contact Details

Filer

Filer Name
Renaissance Development Fund
EIN
38-3367429
Phone
2699256100
Address
201 GRAHAM AVENUE, BENTON HARBOR, MI 49022

Signing Officer

Name
Rob Cleveland
Title
Vice President
Phone
2697570201
Signed
2023-08-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rob Cleveland
Formed
1997
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Kruggel Lawton & Company LLC
Address
526 UPTON DRIVE, ST JOSEPH, MI 49085
Preparer
Robert Alex Schaeffer
Phone
2699830131
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional services: program service expenses 0. Management and general expenses 188,946. Fundraising expenses 0. Total expenses 188,946. Engineering and consulting fees: program service expenses 0. Management and general expenses 103,197. Fundraising expenses 0. Total expenses 103,197.”

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 is a non-for-profit corporation and its tax exempt from under the provisions of internal revenue code section 501 (c)(3). 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 tax-exempt organization. Gaap requires 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 internal revenue service or other applicable taxing authorities. Management has analyzed the tax positions taken by the organization and has concluded that, as of december 31, 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements.”

Raw XML AppendixShowing 400 of 519 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/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt026460
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt026460
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-6253277
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-10203568
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0228420
IRS990/OccupancyGrp/TotalAmt0228420
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0145578
IRS990/OfficeExpensesGrp/ProgramServicesAmt021640
IRS990/OfficeExpensesGrp/TotalAmt0167218
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt0214240
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0PROPERTY DEVELOPMENT
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS AND OTHER
IRS990/OtherExpensesGrp/Desc2BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt060689
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt110000
IRS990/OtherExpensesGrp/ProgramServicesAmt082377
IRS990/OtherExpensesGrp/TotalAmt082377
IRS990/OtherExpensesGrp/TotalAmt160689
IRS990/OtherExpensesGrp/TotalAmt210000
IRS990/OtherLiabilitiesGrp/BOYAmt049077
IRS990/OtherLiabilitiesGrp/EOYAmt02900
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0TIF REIMBURSEMENT INCO
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt0156896
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt01537905
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01537905
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1156896
IRS990/OtherRevenueTotalAmt01694801
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0379227
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0652136
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05158
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt033215
IRS990/PrincipalOfficerNm0ROB CLEVELAND
IRS990/PriorPeriodAdjustmentsAmt0-4104858
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST AND FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0498043
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0498043
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0669
IRS990/PYOtherExpensesAmt03516294
IRS990/PYOtherRevenueAmt02381539
IRS990/PYProgramServiceRevenueAmt0445167
IRS990/PYRevenuesLessExpensesAmt0-688919
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt03516294
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02827375
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-77520
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt026460
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02062408
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/Form990ScheduleAPartVIGrp/ExplanationTxt0SINCE ITS INCEPTION, RENAISSANCE DEVELOPMENT FUND HAS WORKED CLOSELY WITH CORNERSTONE ALLIANCE TO FULFILL THEIR STRONGLY-ALIGNED MISSIONS. RENAISSANCE DEVELOPMENT FUND'S OPERATIONS ARE WHOLLY DEPENDENT ON CORNERSTONE ALLIANCE. SPECIFICALLY, THE ENTITY DOES NOT HAVE ITS OWN EMPLOYEES - ALL TASKS ARE COMPLETED BY EMPLOYEES OF THE SUPPORTED ORGANIZATION. ADDITIONALLY, THE ORGANIZATIONS SHARE COMMON DAY-TO-DAY MANAGEMENT, AS THE SAME OFFICERS SUPERVISE/OPERATE EACH ENTITY. THE PURPOSES OF BOTH ORGANIZATIONS ARE ALIGNED IN THE ARTICLES OF INCORPORATION, AND THE INTENT FOR RENAISSANCE DEVELOPMENT FUND TO BE A SUPPORTING ORGANIZATION TO CORNERSTONE ALLIANCE IS CLEAR WITHIN THESE ARTICLES.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION C, LINE 1:
IRS990ScheduleA/MajorityDirTrstSupportedOrgInd00
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/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03000856
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0197943
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt03198799
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt090000
IRS990ScheduleD/DonatedServicesUseFcltsAmt090000
IRS990ScheduleD/EquipmentGrp/BookValueAmt08150
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt08150
IRS990ScheduleD/ExpensesNotReportedAmt090000
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02820695
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt014668190
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt014668190
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02900
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/RevenueNotReportedAmt090000
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02743175
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NON-FOR-PROFIT CORPORATION AND ITS TAX EXEMPT FROM UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501 (C)(3). 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 TAX-EXEMPT ORGANIZATION. GAAP REQUIRES 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 INTERNAL REVENUE SERVICE OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2021, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt017677196
IRS990ScheduleD/TotalExpensesPerForm990Amt02820695
IRS990ScheduleD/TotalLiabilityAmt02900
IRS990ScheduleD/TotalRevenuePerForm990Amt02743175
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02833175
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02910695
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0262776
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ROBERT CLEVELAND
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0VICE PRESIDENT/TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0262776
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOTH THE PRESIDENT OF THE ORGANIZATION AND THE ORGANIZATION'S ACCOUNTING CONSULTANT REVIEW 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/ExplanationTxt1COMPENSATION 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 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE FOR PUBLIC INSPECTION. FINANCIAL STATEMENTS ARE SUMMARIZED IN AN ANNUAL REPORT WHICH IS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 188,946. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 188,946. ENGINEERING AND CONSULTING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 103,197. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 103,197.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE AUDIT OVERSIGHT AND SELECTION PROCESSES HAVE NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0RENAISSANCE DEVELOPMENT FUND
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1RENAISSANCE DEVELOPMENT FUND
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0HARBOR SHORES FINANCE LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1HARBOR SHORES COMMUNITY REDEVELOPMENT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0263368306
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1263368308
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt087731
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt119797609
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1MI
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0LENDING
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt12318773
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0400 RIVERVIEW DRIVE SUITE 420
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt1400 RIVERVIEW DRIVE SUITE 420
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0BENTON HARBOR
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1BENTON HARBOR
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd1MI
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd049022
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd149022
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0CORNERSTONE ALLIANCE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,142,034
Liabilities
$32,345,602
Net assets
-$10,203,568
Revenue
$2,743,175
Expenses
$2,820,695
Net income
-$77,520
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
2022Detailed filing. Detailed filing data is available for this year.$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
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