Civic Intelligence

Perris Community Economic Development Corporation

990 • Fiscal year 2016 • EIN 47-2300185

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 10, 2017

101 N D StreetPerris, CA 92570

(951) 943-4610

Siviq Scores

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

Liabilities / Assets

27th percentile

0.04x

Higher debt load relative to assets than 27% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

83rd percentile

1.30x

Higher debt load relative to revenue than 83% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

1st percentile

-479%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

11th percentile

-9.0%

Faster asset growth than 11% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

3rd percentile

-68%

Faster revenue growth than 3% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Down

$6,390,601

Down $629,029 (-9.0%) from 2015

Net Assets

Down

$6,160,228

Down $846,845 (-12%) from 2015

Liabilities

Up

$230,373

Up $217,816 (+1735%) from 2015

Revenue

Down

$176,921

Down $374,701 (-68%) from 2015

Expenses

Up

$1,023,766

Up $670,469 (+190%) from 2015

Net Income

Down

-$846,845

Down $1,045,170 (-527%) from 2015

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2014: $6,808,748Liabilities 2014: $0Net Assets 2014: $6,808,7482014Assets 2015: $7,019,630Liabilities 2015: $12,557Net Assets 2015: $7,007,0732015Assets 2016: $6,390,601Liabilities 2016: $230,373Net Assets 2016: $6,160,2282016Assets 2017: $4,356,537Liabilities 2017: $58,025Net Assets 2017: $4,298,5122017Assets 2018: $3,588,874Liabilities 2018: $365,005Net Assets 2018: $3,223,8692018Assets 2019: $4,214,567Liabilities 2019: $11,864Net Assets 2019: $4,202,7032019Assets 2020: $3,759,634Liabilities 2020: $180,889Net Assets 2020: $3,578,7452020Assets 2021: $3,284,611Liabilities 2021: $79,327Net Assets 2021: $3,205,2842021Assets 2022: $2,908,968Liabilities 2022: $36,126Net Assets 2022: $2,872,8422022Assets 2023: $2,371,707Liabilities 2023: $133,163Net Assets 2023: $2,238,5442023Assets 2024: $1,177,544Liabilities 2024: $179,482Net Assets 2024: $998,0622024

Highlighted filing

2016

Assets$6,390,601
Liabilities$230,373
Net Assets$6,160,228

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2014: $6,927,104Expenses 2014: $118,356Net Income 2014: $6,808,7482014Revenue 2015: $551,622Expenses 2015: $353,297Net Income 2015: $198,3252015Revenue 2016: $176,921Expenses 2016: $1,023,766Net Income 2016: -$846,8452016Revenue 2017: $90,800Expenses 2017: $1,948,739Net Income 2017: -$1,857,9392017Revenue 2018: $80,923Expenses 2018: $1,163,297Net Income 2018: -$1,082,3742018Revenue 2019: $243,279Expenses 2019: $314,576Net Income 2019: -$71,2972019Revenue 2020: $175,302Expenses 2020: $711,631Net Income 2020: -$536,3292020Revenue 2021: $251,622Expenses 2021: $532,972Net Income 2021: -$281,3502021Revenue 2022: $200,690Expenses 2022: $394,987Net Income 2022: -$194,2972022Revenue 2023: $200,227Expenses 2023: $696,380Net Income 2023: -$496,1532023Revenue 2024: $126,616Expenses 2024: $1,228,951Net Income 2024: -$1,102,3352024

Highlighted filing

2016

Revenue$176,921
Expenses$1,023,766
Net Income-$846,845
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 10, 2017
Return Version
2015v3.0
Gross Receipts
$176,921
Mission and Program Overview

Mission

The primary purpose of the org. Is to provide physical, economic and educational development and revitalization efforts resulting in expanded employement, economic prosperity and business and housing opportunitiies for businesses and residents in the city of perris.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$7,012,115$6,375,549▼ $636,566
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$7,019,630$6,390,601▼ $629,029
Other Assets Total$7,515$15,052▲ $7,537
Liabilities
Accounts Payable and Accrued Expenses$12,557$215,987▲ $203,430
Other Liabilities-$7,910-
Deferred Revenue-$6,476-
Total Liabilities$12,557$230,373▲ $217,816
Net Assets / Fund Balance
Unrestricted Net Assets$7,007,073$6,160,228▼ $846,845
Total Net Assets Fund Balance$7,007,073$6,160,228▼ $846,845
Total Liabilities and Net Assets / Fund Balance$7,019,630$6,390,601▼ $629,029
Compensation and Service Providers

Board Members and Trustees

NameTitle
Daryl BuschChairman
David Starr RabbBoard Member
Mark YarbroughBoard Member
Rita RogersBoard Member
Tonya BurkeBoard Member
Richard BelmudezExecutive Director
Nancy SalazarSecretary
Ron CarrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$80,411
Other Revenue
$96,510
Change in Net Assets
$-846,845

Audited Revenue Reconciliation

Revenue per Audited Statements
$176,921
Total Revenue per Audited Statements
$176,921
Total Revenue per Form 990
$176,921
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,023,766
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
Fees for Services Legal-$76,448-$76,448
Other Expenses$32,673--$32,673
Total Functional Expenses$947,318$76,448$0$1,023,766

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,023,766
Total Expenses per Audited Statements$1,023,766
Total Expenses per Form 990$1,023,766
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Retentions Payable$7,910
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The federal and state tax returns are prepared by a certified public accountant and then reviewed by the assistant finance director of the city of perris. After the assistant finance director's review and any necessary changes are made to the returns, a copy of the tax returns is then distributed to the board members and the assistance finance director of the city of perris. The executive director will then sign and submit the tax returns.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The board of directors consists of the city of perris city council. The city council is required to annually fill out form 700s for any possible conflicts of interest. Those forms are also annually reviewed by the organization.

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

Disclosures of governing documents, policies, and financial statements are provided when formally requested.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Disclosures of governing documents, policies, and financial statements are provided when formally requested.

Filing and Contact Details

Filer

Filer Name
Perris Community Economic Development
EIN
47-2300185
Phone
9519434610
Address
101 N D STREET, PERRIS, CA 92570

Signing Officer

Name
Richard Belmudez
Title
Executive Director
Signed
2017-02-10
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Teaman Ramirez & Smith Inc
Address
4201 Brockton Ave Suite 100, Riverside, CA 92501
Preparer
Richard A Teaman
Phone
9512749500
Supplemental Narrative

Additional Explanations

Client Note 1

Client Note 1 - The Organization intially filed for an Employer Identification Number (EIN) but did not indicate the date of the fiscal year which was June 30th and a calendar year was elected by default by the Internal Revenue Service (IRS). This short year tax return is being filed to correct the accounting period to a June 30th fiscal year end for the Organization.

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IRS990/RentalIncomeOrLossGrp/RealAmt096500
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0498044
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0498044
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0176911
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt056440
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0233351
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0498044
IRS990ScheduleA/TotalSupportAmt0731405
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleD/ExpensesSubtotalAmt01023766
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07910
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RETENTIONS PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt0176921
IRS990ScheduleD/TotalExpensesPerForm990Amt01023766
IRS990ScheduleD/TotalLiabilityAmt07910
IRS990ScheduleD/TotalRevenuePerForm990Amt0176921
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0176921
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01023766
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Client Note 1 - The Organization intially filed for an Employer Identification Number (EIN) but did not indicate the date of the fiscal year which was June 30th and a calendar year was elected by default by the Internal Revenue Service (IRS). This short year tax return is being filed to correct the accounting period to a June 30th fiscal year end for the Organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FEDERAL AND STATE TAX RETURNS ARE PREPARED BY A CERTIFIED PUBLIC ACCOUNTANT AND THEN REVIEWED BY THE ASSISTANT FINANCE DIRECTOR OF THE CITY OF PERRIS. AFTER THE ASSISTANT FINANCE DIRECTOR'S REVIEW AND ANY NECESSARY CHANGES ARE MADE TO THE RETURNS, A COPY OF THE TAX RETURNS IS THEN DISTRIBUTED TO THE BOARD MEMBERS AND THE ASSISTANCE FINANCE DIRECTOR OF THE CITY OF PERRIS. THE EXECUTIVE DIRECTOR WILL THEN SIGN AND SUBMIT THE TAX RETURNS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS CONSISTS OF THE CITY OF PERRIS CITY COUNCIL. THE CITY COUNCIL IS REQUIRED TO ANNUALLY FILL OUT FORM 700S FOR ANY POSSIBLE CONFLICTS OF INTEREST. THOSE FORMS ARE ALSO ANNUALLY REVIEWED BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DISCLOSURES OF GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE PROVIDED WHEN FORMALLY REQUESTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DISCLOSURES OF GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE PROVIDED WHEN FORMALLY REQUESTED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Client Note 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0CITY OF PERRIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0956000761
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CITY GOVERNMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0101 N D STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PERRIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd092570
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt06390601
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt076448
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0947318
IRS990/TotalFunctionalExpensesGrp/TotalAmt01023766
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012557
IRS990/TotalLiabilitiesEOYAmt0230373
IRS990/TotalLiabilitiesGrp/BOYAmt012557
IRS990/TotalLiabilitiesGrp/EOYAmt0230373
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07007073
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06160228
IRS990/TotalProgramServiceExpensesAmt0947318
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0176921
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0176921
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07019630
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06390601
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt07007073
IRS990/UnrestrictedNetAssetsGrp/EOYAmt06160228
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD BELMUDEZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Dir.
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PERRIS COMMUNITY ECONOMIC DEVELOPMENT

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