Civic Intelligence

Port Renovation Inc

EIN 46-4215822 • 501(c)3 • Port Hueneme, CA

Profile

To support and implement improvements to the port of hueneme, and, in conjunction with other public agencies and non profit organizations, as appropriate, to promote the health and well-being of residents in ventura county through the operation of a mobile pantry program.

333 Ponoma StreetPort Hueneme, CA 93041

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

90th percentile

0.88x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

98th percentile

27.53x

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

501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

6th percentile

-51%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

29th percentile

-1.3%

Faster asset growth than 29% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

97th percentile

341%

Faster revenue growth than 97% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Down

$16,577,951

Down $221,222 (-1.3%) from 2020

Liabilities

Up

$14,560,745

Up $49,757 (+0.3%) from 2020

Net Assets

Down

$2,017,206

Down $270,979 (-12%) from 2020

Revenue

Up

$528,917

Up $408,917 (+341%) from 2020

Expenses

Up

$799,896

Up $59,755 (+8.1%) from 2020

Net Income

Up

-$270,979

Up $349,162 (+56%) from 2020

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2013: $20,270,452Liabilities 2013: $14,706,404Net Assets 2013: $5,564,0482013Assets 2014: $20,270,452Liabilities 2014: $14,706,404Net Assets 2014: $5,564,0482014Assets 2015: $20,110,926Liabilities 2015: $14,594,537Net Assets 2015: $5,516,3892015Assets 2016: $19,340,076Liabilities 2016: $14,914,762Net Assets 2016: $4,425,3142016Assets 2017: $18,697,969Liabilities 2017: $14,914,788Net Assets 2017: $3,783,1812017Assets 2018: $18,028,023Liabilities 2018: $14,914,788Net Assets 2018: $3,113,2352018Assets 2019: $17,413,781Liabilities 2019: $14,505,455Net Assets 2019: $2,908,3262019Assets 2020: $16,799,173Liabilities 2020: $14,510,988Net Assets 2020: $2,288,1852020Assets 2021: $16,577,951Liabilities 2021: $14,560,745Net Assets 2021: $2,017,2062021

Highlighted filing

2021

Assets$16,577,951
Liabilities$14,560,745
Net Assets$2,017,206

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2013: $5,719,772Expenses 2013: $155,724Net Income 2013: $5,564,0482013Revenue 2014: $5,719,772Expenses 2014: $155,724Net Income 2014: $5,564,0482014Revenue 2015: $124,167Expenses 2015: $171,826Net Income 2015: -$47,6592015Revenue 2016: $120,000Expenses 2016: $778,132Net Income 2016: -$658,1322016Revenue 2017: $120,000Expenses 2017: $762,133Net Income 2017: -$642,1332017Revenue 2018: $123,075Expenses 2018: $793,021Net Income 2018: -$669,9462018Revenue 2019: $534,762Expenses 2019: $739,671Net Income 2019: -$204,9092019Revenue 2020: $120,000Expenses 2020: $740,141Net Income 2020: -$620,1412020Revenue 2021: $528,917Expenses 2021: $799,896Net Income 2021: -$270,9792021

Highlighted filing

2021

Revenue$528,917
Expenses$799,896
Net Income-$270,979

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.2
Gross Receipts
$528,917
Mission and Program Overview

Mission

To support and implement improvements to the port of hueneme, and, in conjunction with other public agencies and non profit organizations, as appropriate, to promote the health and well-being of residents in ventura county through the operation of a mobile pantry program.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,906,223$15,403,824▼ $502,399
Accounts Receivable$150,007$623,355▲ $473,348
Prepaid Expenses and Deferred Charges$403,280$359,459▼ $43,821
Cash and Non-Interest-Bearing Accounts$339,663$191,313▼ $148,350
Total Assets$16,799,173$16,577,951▼ $221,222
Liabilities
Mortgage Notes Payable Secured by Investment Property$14,500,000$14,475,000▼ $25,000
Other Liabilities$0$74,757▲ $74,757
Accounts Payable and Accrued Expenses$10,988$10,988→ $0
Total Liabilities$14,510,988$14,560,745▲ $49,757
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,288,185$2,017,206▼ $270,979
Total Net Assets Fund Balance$2,288,185$2,017,206▼ $270,979
Total Liabilities and Net Assets / Fund Balance$16,799,173$16,577,951▼ $221,222

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,452,381$2,614,488$12,066,869
Land$5,100,000-$5,100,000
Other Land Buildings$851,443$844,942$1,696,385
Compensation and Service Providers

Board Members and Trustees

NameTitle
John DemersChairperson
Leah C LacayoVice Chairperson
Anthony C VolanteBoard Member
Michael L BarberBoard Member
Andrew PalomaresTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$528,917
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-270,979

Audited Revenue Reconciliation

Revenue per Audited Statements
$281,167
Revenue Not Reported on Financial Statements
$247,750
Revenue Not Reported on Form 990
$80,804
Other Revenue Adjustments
$247,750
Total Revenue per Audited Statements
$361,971
Total Revenue per Form 990
$528,917
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$799,896
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
Depreciation Depletion$502,399--$502,399
Interest$197,244--$197,244
Fees for Services Other$8,142$91,854-$99,996
Other Expenses-$257-$257
Total Functional Expenses$707,785$92,111$0$799,896

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$799,896
Expenses Not Reported on Financial Statements$473,744
Other Expense Adjustments$473,744
Total Expenses per Audited Statements$411,152
Expenses per Audited Statements$326,152
Expenses Not Reported on Form 990$85,000
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
Accrued Interest$74,757
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Management reviews the form 990 before it is filed.

Form 990, Part VI, Section C, Line 19

Documents made available upon request.

Filing and Contact Details

Filer

Filer Name
Port Renovation Inc
EIN
46-4215822
Phone
8054883677
Address
333 PONOMA STREET, PORT HUENEME, CA 93041

Signing Officer

Name
Andrew Palomares
Title
Board Treasurer
Phone
8054883677
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Palomares
Formed
2013
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Novogradac & Company Llp
Address
211 EAST OCEAN BLVD SUITE 600, LONG BEACH, CA 90802
Preparer
William Letsinger
Phone
5624329482
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

To support and implement improvements to the port of hueneme, and, in conjunction with other public agencies and non profit organizations, as appropriate, to promote the health and well-being of residents in ventura county through the operation of a mobile pantry program.

Form 990, Part IX, Line 11G

Mobile food pantry services: program service expenses 8,142. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,142. Other consulting and professional fees: program service expenses 0. Management and general expenses 91,854. Fundraising expenses 0. Total expenses 91,854.

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from federal income taxes under internal revenue code section 501(c)(3) and from california income and franchise taxes under revenue and taxation code section 23701(d). The preparation of financial statements in accordance with accounting principles generally accepted in the united states of america requires the organization to report information regarding its exposure to various tax positions taken by the organization. The organization has determined whether any tax positions have met the recognition threshold and has measured the organization's exposure to those tax positions. Management believes that the organization has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed. Any interest or penalties assessed to the organization are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Arcturus accrued lease income 80,804.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Shore-side lease income 247,750.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Arcturus accrued lease expense 85,000.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Depreciation expense 473,744.

Raw XML Appendix351 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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IRS990ScheduleD/RevenueSubtotalAmt0281167
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND FROM CALIFORNIA INCOME AND FRANCHISE TAXES UNDER REVENUE AND TAXATION CODE SECTION 23701(D). THE PREPARATION OF FINANCIAL STATEMENTS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE ORGANIZATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE ORGANIZATION. THE ORGANIZATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE ORGANIZATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ANY INTEREST OR PENALTIES ASSESSED TO THE ORGANIZATION ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ARCTURUS ACCRUED LEASE INCOME 80,804.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SHORE-SIDE LEASE INCOME 247,750.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3ARCTURUS ACCRUED LEASE EXPENSE 85,000.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4DEPRECIATION EXPENSE 473,744.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt015403824
IRS990ScheduleD/TotalExpensesPerForm990Amt0799896
IRS990ScheduleD/TotalLiabilityAmt074757
IRS990ScheduleD/TotalRevenuePerForm990Amt0528917
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0361971
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0411152
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO SUPPORT AND IMPLEMENT IMPROVEMENTS TO THE PORT OF HUENEME, AND, IN CONJUNCTION WITH OTHER PUBLIC AGENCIES AND NON PROFIT ORGANIZATIONS, AS APPROPRIATE, TO PROMOTE THE HEALTH AND WELL-BEING OF RESIDENTS IN VENTURA COUNTY THROUGH THE OPERATION OF A MOBILE PANTRY PROGRAM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT REVIEWS THE FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MOBILE FOOD PANTRY SERVICES: PROGRAM SERVICE EXPENSES 8,142. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,142. OTHER CONSULTING AND PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 91,854. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 91,854.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt016799173
IRS990/TotalAssetsEOYAmt016577951
IRS990/TotalAssetsGrp/BOYAmt016799173
IRS990/TotalAssetsGrp/EOYAmt016577951
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt092111
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0707785
IRS990/TotalFunctionalExpensesGrp/TotalAmt0799896
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014510988
IRS990/TotalLiabilitiesEOYAmt014560745
IRS990/TotalLiabilitiesGrp/BOYAmt014510988
IRS990/TotalLiabilitiesGrp/EOYAmt014560745
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02288185
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02017206
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0707785
IRS990/TotalProgramServiceRevenueAmt0528917
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0528917
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0528917
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016799173
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt016577951
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0333 PONOMA STREET
IRS990/USAddress/CityNm0PORT HUENEME
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd093041
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ANDREW PALOMARES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08054883677
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PORT RENOVATION INC
ReturnHeader/Filer/BusinessNameControlTxt0PORT
ReturnHeader/Filer/EIN0464215822
ReturnHeader/Filer/PhoneNum08054883677
ReturnHeader/Filer/USAddress/AddressLine1Txt0333 PONOMA STREET
ReturnHeader/Filer/USAddress/CityNm0PORT HUENEME
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd093041
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0943108253
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NOVOGRADAC & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0211 EAST OCEAN BLVD SUITE 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LONG BEACH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090802
ReturnHeader/PreparerPersonGrp/PhoneNum05624329482
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM LETSINGER
ReturnHeader/ReturnTs02022-05-16T18:02:42-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ANDREW
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PALOMARES
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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