Civic Intelligence

Port Renovation Inc

990 • Fiscal year 2020 • EIN 46-4215822

Jul 01, 2019 to Jun 30, 2020 • Filed on Mar 12, 2021

Organization ProfileN/A
333 Ponoma StreetPort Hueneme, CA 93041

(805) 488-3677

Siviq Scores

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

Liabilities / Assets

88th percentile

0.86x

Higher debt load relative to assets than 88% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

100th percentile

120.92x

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

1st percentile

-517%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

15th percentile

-3.5%

Faster asset growth than 15% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

2nd percentile

-78%

Faster revenue growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$16,799,173

Down $614,608 (-3.5%) from 2019

Net Assets

Down

$2,288,185

Down $620,141 (-21%) from 2019

Liabilities

Up

$14,510,988

Up $5,533 (+0.0%) from 2019

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$120,000

Down $414,762 (-78%) from 2019

Expenses

Up

$740,141

Up $470 (+0.1%) from 2019

Net Income

Down

-$620,141

Down $415,232 (-203%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$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

2020

Assets$16,799,173
Liabilities$14,510,988
Net Assets$2,288,185
Open 2020 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$120,000
Expenses$740,141
Net Income-$620,141
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Mar 12, 2021
Return Version
2019v5.2
Gross Receipts
$120,000
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$16,414,187$15,906,223▼ $507,964
Prepaid Expenses and Deferred Charges$447,102$403,280▼ $43,822
Cash and Non-Interest-Bearing Accounts$389,708$339,663▼ $50,045
Accounts Receivable$162,784$150,007▼ $12,777
Total Assets$17,413,781$16,799,173▼ $614,608
Liabilities
Mortgage Notes Payable Secured by Investment Property$14,500,000$14,500,000→ $0
Accounts Payable and Accrued Expenses$5,455$10,988▲ $5,533
Total Liabilities$14,505,455$14,510,988▲ $5,533
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,908,326$2,288,185▼ $620,141
Total Net Assets Fund Balance$2,908,326$2,288,185▼ $620,141
Total Liabilities and Net Assets / Fund Balance$17,413,781$16,799,173▼ $614,608

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,854,610$2,212,259$12,066,869
Land$5,100,000-$5,100,000
Other Land Buildings$951,613$744,772$1,696,385
Compensation and Service Providers
Top Officer Pay14th percentile

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
$120,000
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-620,141

Audited Revenue Reconciliation

Revenue per Audited Statements
$70,000
Revenue Not Reported on Financial Statements
$50,000
Revenue Not Reported on Form 990
$291,971
Other Revenue Adjustments
$50,000
Total Revenue per Audited Statements
$361,971
Total Revenue per Form 990
$120,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$740,141
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$507,964--$507,964
Interest$197,389--$197,389
Fees for Services Other$8,143$21,000-$29,143
Insurance-$5,450-$5,450
Other Expenses-$195-$195
Total Functional Expenses$713,496$26,645$0$740,141

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$740,141
Expenses Not Reported on Financial Statements$479,309
Other Expense Adjustments$479,309
Total Expenses per Audited Statements$345,832
Expenses per Audited Statements$260,832
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
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
2021-03-12
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.”

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 291,971.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Shore-side lease income 50,000.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Arcturus accrued lease expense 85,000.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Depreciation expense 479,309.”

Raw XML Appendix340 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/RevenueSubtotalAmt070000
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 291,971.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SHORE-SIDE LEASE INCOME 50,000.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3ARCTURUS ACCRUED LEASE EXPENSE 85,000.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4DEPRECIATION EXPENSE 479,309.
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/TotalBookValueLandBuildingsAmt015906223
IRS990ScheduleD/TotalExpensesPerForm990Amt0740141
IRS990ScheduleD/TotalRevenuePerForm990Amt0120000
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0361971
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0345832
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/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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt017413781
IRS990/TotalAssetsEOYAmt016799173
IRS990/TotalAssetsGrp/BOYAmt017413781
IRS990/TotalAssetsGrp/EOYAmt016799173
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026645
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0713496
IRS990/TotalFunctionalExpensesGrp/TotalAmt0740141
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014505455
IRS990/TotalLiabilitiesEOYAmt014510988
IRS990/TotalLiabilitiesGrp/BOYAmt014505455
IRS990/TotalLiabilitiesGrp/EOYAmt014510988
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02908326
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02288185
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0713496
IRS990/TotalProgramServiceRevenueAmt0120000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0120000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0120000
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt017413781
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt016799173
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/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ANDREW PALOMARES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08054883677
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-12
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/ReturnTs02021-03-12T21:12:51-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,799,173
Liabilities
$14,510,988
Net assets
$2,288,185
Revenue
$120,000
Expenses
$740,141
Net income
-$620,141
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$16.6$14.6$2.02$0.53$0.80$0.27
2020Detailed filing. Detailed filing data is available for this year.$16.8$14.5$2.29$0.12$0.74$0.62
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.4$14.5$2.91$0.53$0.74$0.20
2018Detailed filing. Detailed filing data is available for this year.$18.0$14.9$3.11$0.12$0.79$0.67
2017Detailed filing. Detailed filing data is available for this year.$18.7$14.9$3.78$0.12$0.76$0.64
2016Detailed filing. Detailed filing data is available for this year.$19.3$14.9$4.43$0.12$0.78$0.66
2015Summary only. Only limited summary data is available for this year.$20.1$14.6$5.52$0.12$0.17$0.05
2014Summary only. Only limited summary data is available for this year.$20.3$14.7$5.56$5.72$0.16$5.56
2013Summary only. Only limited summary data is available for this year.$20.3$14.7$5.56$5.72$0.16$5.56