Civic Intelligence

Perris Community Economic Development Corporation

990 • Fiscal year 2017 • EIN 47-2300185

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 09, 2018

Organization ProfileN/A
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

28th percentile

0.01x

Higher debt load relative to assets than 28% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

81st percentile

0.64x

Higher debt load relative to revenue than 81% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

1st percentile

-2046%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

3rd percentile

-32%

Faster asset growth than 3% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

5th percentile

-49%

Faster revenue growth than 5% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets28th percentile

Assets

Down

$4,356,537

Down $2,034,064 (-32%) from 2016

Net Assets

Down

$4,298,512

Down $1,861,716 (-30%) from 2016

Liabilities

Down

$58,025

Down $172,348 (-75%) from 2016

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin1st percentile

Revenue

Down

$90,800

Down $86,121 (-49%) from 2016

Expenses

Up

$1,948,739

Up $924,973 (+90%) from 2016

Net Income

Down

-$1,857,939

Down $1,011,094 (-119%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

2017

Assets$4,356,537
Liabilities$58,025
Net Assets$4,298,512
Open 2017 Filing

Operations Trend

Revenue Growth5th percentile

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

2017

Revenue$90,800
Expenses$1,948,739
Net Income-$1,857,939
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 9, 2018
Return Version
2016v3.0
Gross Receipts
$90,800
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$6,375,549$4,336,001▼ $2,039,548
Accounts Receivable-$10,125-
Cash and Non-Interest-Bearing Accounts-$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$6,390,601$4,356,537▼ $2,034,064
Other Assets Total$15,052$10,411▼ $4,641
Liabilities
Accounts Payable and Accrued Expenses$215,987$42,778▼ $173,209
Deferred Revenue$6,476$15,247▲ $8,771
Other Liabilities$7,910--
Total Liabilities$230,373$58,025▼ $172,348
Net Assets / Fund Balance
Unrestricted Net Assets$6,160,228$4,298,512▼ $1,861,716
Total Net Assets Fund Balance$6,160,228$4,298,512▼ $1,861,716
Total Liabilities and Net Assets / Fund Balance$6,390,601$4,356,537▼ $2,034,064
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Michael M VargasChairman
David Starr RabbBoard Member
Malcolm CoronaBoard Member
Rita RogersBoard Member
Tonya BurkeBoard Member
Richard BelmudezExecutive Director
Nancy SalazarSecretary
Jennifer ErwinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$90,800
Change in Net Assets
$-1,857,939

Audited Revenue Reconciliation

Revenue per Audited Statements
$90,800
Revenue Not Reported on Form 990
$-3,777
Total Revenue per Audited Statements
$87,023
Total Revenue per Form 990
$90,800
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,447,837
Grants and Similar Amounts Paid$500,902
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$500,902--$500,902
Other Expenses$18,745--$18,745
Fees for Services Legal-$12,789-$12,789
Total Functional Expenses$1,935,950$12,789$0$1,948,739

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,948,739
Total Expenses per Audited Statements$1,948,739
Total Expenses per Form 990$1,948,739
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-
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 director of finance of the city of perris. After the director of finance's review any necessary changes are made to the returns. A copy of the tax returns is then distributed to the board members and the director of finance 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
2018-04-09
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
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IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01023766
IRS990/PYOtherRevenueAmt096510
IRS990/PYRevenuesLessExpensesAmt0-846845
IRS990/PYTotalExpensesAmt01023766
IRS990/PYTotalRevenueAmt0176921
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-1857939
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt090600
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt06375549
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04336001
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0498044
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0498044
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt090600
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0176911
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt056440
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0323951
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0200
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt010
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0210
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt0498044
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0498044
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0498044
IRS990ScheduleA/TotalSupportAmt0822205
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt01948739
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-3777
IRS990ScheduleD/RevenueNotReportedAmt0-3777
IRS990ScheduleD/RevenueSubtotalAmt090800
IRS990ScheduleD/TotalExpensesPerForm990Amt01948739
IRS990ScheduleD/TotalRevenuePerForm990Amt090800
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt087023
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01948739
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FEDERAL AND STATE TAX RETURNS ARE PREPARED BY A CERTIFIED PUBLIC ACCOUNTANT AND THEN REVIEWED BY THE DIRECTOR OF FINANCE OF THE CITY OF PERRIS. AFTER THE DIRECTOR OF FINANCE'S REVIEW ANY NECESSARY CHANGES ARE MADE TO THE RETURNS. A COPY OF THE TAX RETURNS IS THEN DISTRIBUTED TO THE BOARD MEMBERS AND THE DIRECTOR OF FINANCE OF THE CITY OF PERRIS. THE EXECUTIVE DIRECTOR WILL THEN SIGN AND SUBMIT THE TAX RETURNS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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/ExplanationTxt2DISCLOSURES OF GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE PROVIDED WHEN FORMALLY REQUESTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DISCLOSURES OF GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE PROVIDED WHEN FORMALLY REQUESTED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
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
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0500902
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0PURCHASE PRICE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0CITY OF PERRIS
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0b
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06390601
IRS990/TotalAssetsEOYAmt04356537
IRS990/TotalAssetsGrp/BOYAmt06390601
IRS990/TotalAssetsGrp/EOYAmt04356537
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012789
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01935950
IRS990/TotalFunctionalExpensesGrp/TotalAmt01948739
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0230373
IRS990/TotalLiabilitiesEOYAmt058025
IRS990/TotalLiabilitiesGrp/BOYAmt0230373
IRS990/TotalLiabilitiesGrp/EOYAmt058025
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06160228
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04298512
IRS990/TotalProgramServiceExpensesAmt01935950
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt090800
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt090800
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06390601
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04356537
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt06160228
IRS990/UnrestrictedNetAssetsGrp/EOYAmt04298512
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,356,537
Liabilities
$58,025
Net assets
$4,298,512
Revenue
$90,800
Expenses
$1,948,739
Net income
-$1,857,939
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.18$0.18$1.00$0.13$1.23$1.10
2023Detailed filing. Detailed filing data is available for this year.$2.37$0.13$2.24$0.20$0.70$0.50
2022Detailed filing. Detailed filing data is available for this year.$2.91$0.04$2.87$0.20$0.39$0.19
2021Detailed filing. Detailed filing data is available for this year.$3.28$0.08$3.21$0.25$0.53$0.28
2020Detailed filing. Detailed filing data is available for this year.$3.76$0.18$3.58$0.18$0.71$0.54
2019Detailed filing. Detailed filing data is available for this year.$4.21$0.01$4.20$0.24$0.31$0.07
2018Detailed filing. Detailed filing data is available for this year.$3.59$0.37$3.22$0.08$1.16$1.08
2017Detailed filing. Detailed filing data is available for this year.$4.36$0.06$4.30$0.09$1.95$1.86
2016Detailed filing. Detailed filing data is available for this year.$6.39$0.23$6.16$0.18$1.02$0.85
2015Summary only. Only limited summary data is available for this year.$7.02$0.01$7.01$0.55$0.35$0.20
2014Summary only. Only limited summary data is available for this year.$6.81$0.00$6.81$6.93$0.12$6.81