Civic Intelligence

Renaissance Development Fund

990 • Fiscal year 2023 • EIN 38-3367429

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 16, 2024

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.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

5.03x

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

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

89th percentile

45%

Higher net margin than 89% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

72nd percentile

$262,108

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

9th percentile

-8.6%

Faster asset growth than 9% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

94th percentile

114%

Faster revenue growth than 94% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$20,236,384

Down $1,905,650 (-8.6%) from 2022

Net Assets

Up

-$9,307,237

Up $896,331 (+8.8%) from 2022

Liabilities

Down

$29,543,621

Down $2,801,981 (-8.7%) from 2022

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin89th percentile

Revenue

Up

$5,877,883

Up $3,134,708 (+114%) from 2022

Expenses

Up

$3,204,065

Up $383,370 (+14%) from 2022

Net Income

Up

$2,673,818

Up $2,751,338 (+3549%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth9th 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

2023

Assets$20,236,384
Liabilities$29,543,621
Net Assets-$9,307,237
Open 2023 Filing

Operations Trend

Revenue Growth94th 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

2023

Revenue$5,877,883
Expenses$3,204,065
Net Income$2,673,818
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 16, 2024
Return Version
2023v5.1
Gross Receipts
$6,320,684
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$17,677,196$17,220,914▼ $456,282
Cash and Non-Interest-Bearing Accounts$3,140,851$2,500,597▼ $640,254
Other Notes and Loans Receivable, Net$652,136--
Accounts Receivable$424,396$413,640▼ $10,756
Prepaid Expenses and Deferred Charges$33,215$31,319▼ $1,896
Total Assets$22,142,034$20,236,384▼ $1,905,650
Other Assets Total$214,240$69,914▼ $144,326
Liabilities
Mortgage Notes Payable Secured by Investment Property$31,820,027$29,156,167▼ $2,663,860
Accounts Payable and Accrued Expenses$522,675$384,554▼ $138,121
Other Liabilities$2,900$2,900→ $0
Total Liabilities$32,345,602$29,543,621▼ $2,801,981
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-10,203,568$-9,307,237▲ $896,331
Total Net Assets Fund Balance$-10,203,568$-9,307,237▲ $896,331
Total Liabilities and Net Assets / Fund Balance$22,142,034$20,236,384▼ $1,905,650

Asset Categories

AssetBook ValueDepreciationBasis
Land$14,380,182-$14,380,182
Buildings$2,832,582$193,477-
Equipment$8,150--
Compensation and Service Providers
Top Officer Pay72nd percentile

Board Members and Trustees

NameTitle
Alan BerryPresident
Robert ClevelandVice President/treasurer
Amber HaackDirector
Amy ZapalDirector
Andrew HaanDirector
Chris CookDirector
Chrsitina FrankDirector
Zach VaughnDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
AbonmarcheConstruction Services95 WEST MAIN STREET, Benton Harbor, MI 49022$126,827
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$284,992
Investment Income
$-421,102
Other Revenue
$6,013,993
Change in Net Assets
$2,673,818

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,830,152
Revenue Not Reported on Financial Statements
$47,731
Revenue Not Reported on Form 990
$-1,777,487
Other Revenue Adjustments
$47,731
Total Revenue per Audited Statements
$4,052,665
Total Revenue per Form 990
$5,877,883
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,204,065
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$1,653,135--$1,653,135
Fees for Services Other-$701,321-$701,321
Occupancy$214,374$32,330-$246,704
Fees for Services Legal-$74,866-$74,866
Advertising-$58,310-$58,310
Insurance-$52,698-$52,698
Fees for Services Management-$36,309-$36,309
Depreciation Depletion-$31,006-$31,006
Fees for Services Accounting-$24,125-$24,125
Other Expenses$110,503$10,000-$10,000
Office Expenses-$3,544-$3,544
Total Functional Expenses$1,982,015$1,222,050$0$3,204,065

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,204,065
Expenses per Audited Statements$3,156,334
Total Expenses per Audited Statements$3,156,334
Expenses Not Reported on Financial Statements$47,731
Other Expense Adjustments$47,731
Expenses Not Reported on Form 990$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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Chris CookBoard MemberConstruction ServicesNo$126,827
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
Yes
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
Alan Berry
Title
President
Phone
2699256100
Signed
2024-07-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan Berry
Formed
1997
Legal Domicile
Mi
Voting Board Members
8
Independent Board Members
7
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 475,798. Fundraising expenses 0. Total expenses 475,798. Engineering and consulting fees: program service expenses 0. Management and general expenses 225,523. Fundraising expenses 0. Total expenses 225,523.”

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 is 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, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Contribution to related party 47,731.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Contributions to related party 47,731.”

Raw XML AppendixShowing 400 of 539 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/MissionDesc0THE 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt031820027
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt029156167
IRS990/NetAssetsOrFundBalancesBOYAmt0-10203568
IRS990/NetAssetsOrFundBalancesEOYAmt0-9307237
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-442801
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-442801
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt038220
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt038220
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-1777487
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-10203568
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-9307237
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt032330
IRS990/OccupancyGrp/ProgramServicesAmt0214374
IRS990/OccupancyGrp/TotalAmt0246704
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03544
IRS990/OfficeExpensesGrp/TotalAmt03544
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0214240
IRS990/OtherAssetsTotalGrp/EOYAmt069914
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS AND OTHER
IRS990/OtherExpensesGrp/Desc1PROPERTY DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0197541
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt110000
IRS990/OtherExpensesGrp/ProgramServicesAmt04003
IRS990/OtherExpensesGrp/ProgramServicesAmt1110503
IRS990/OtherExpensesGrp/TotalAmt0201544
IRS990/OtherExpensesGrp/TotalAmt1110503
IRS990/OtherExpensesGrp/TotalAmt210000
IRS990/OtherLiabilitiesGrp/BOYAmt02900
IRS990/OtherLiabilitiesGrp/EOYAmt02900
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0GAIN IN EXTINGUISHMENT OF DEBT
IRS990/OtherRevenueMiscGrp/Desc1TIF REIMBURSEMENT INCOME
IRS990/OtherRevenueMiscGrp/Desc2MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt03236000
IRS990/OtherRevenueMiscGrp/ExclusionAmt1683177
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt02056596
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt03236000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt12056596
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt2683177
IRS990/OtherRevenueTotalAmt05975773
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0652136
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt033215
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt031319
IRS990/PrincipalOfficerNm0ALAN BERRY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST AND FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0284992
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0284992
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt08484
IRS990/PYOtherExpensesAmt02820695
IRS990/PYOtherRevenueAmt02236648
IRS990/PYProgramServiceRevenueAmt0498043
IRS990/PYRevenuesLessExpensesAmt0-77520
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02820695
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02743175
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02673818
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt038220
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02379808
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/BookValueAmt02832582
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0193477
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt03026059
IRS990ScheduleD/EquipmentGrp/BookValueAmt08150
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt08150
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt047731
IRS990ScheduleD/ExpensesSubtotalAmt03156334
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt014380182
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt014380182
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-1777487
IRS990ScheduleD/OtherExpensesNotIncludedAmt047731
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02900
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherRevenuesNotIncludedAmt047731
IRS990ScheduleD/RevenueNotReportedAmt0-1777487
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt047731
IRS990ScheduleD/RevenueSubtotalAmt05830152
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NON-FOR-PROFIT CORPORATION AND IS 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, 2023 AND 2022, 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/ExplanationTxt1CONTRIBUTION TO RELATED PARTY 47,731.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2CONTRIBUTIONS TO RELATED PARTY 47,731.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt017220914
IRS990ScheduleD/TotalExpensesPerForm990Amt03204065
IRS990ScheduleD/TotalLiabilityAmt02900
IRS990ScheduleD/TotalRevenuePerForm990Amt05877883
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04052665
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03156334
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/CompensationBasedOnRltdOrgsAmt0262108
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/TotalCompensationRltdOrgsAmt0262108
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0CHRIS COOK
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0126827
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CONSTRUCTION SERVICES
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0CHRISTOPHER COOK IS THE PRESIDENT OF ABONMARCHE AND A BOARD MEMBER OF RENAISSANCE DEVELOPMENT FUND. SERVICES WERE PROVIDED IN THE ORDINARY COURSE OF BUSINESS ON THE SAME TERMS OFFERED TO THE PUBLIC.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART VI, LINE 1
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 475,798. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 475,798. ENGINEERING AND CONSULTING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 225,523. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 225,523.
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

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$20,236,384
Liabilities
$29,543,621
Net assets
-$9,307,237
Revenue
$5,877,883
Expenses
$3,204,065
Net income
$2,673,818
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
2023Detailed filing. Detailed filing data is available for this year.$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
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