Civic Intelligence

Perris Community Economic Development Corporation

990 • Fiscal year 2018 • EIN 47-2300185

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 15, 2019

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

52nd percentile

0.10x

Higher debt load relative to assets than 52% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

95th percentile

4.51x

Higher debt load relative to revenue than 95% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

1st percentile

-1338%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

7th percentile

-18%

Faster asset growth than 7% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

21st percentile

-11%

Faster revenue growth than 21% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Down

$3,588,874

Down $767,663 (-18%) from 2017

Net Assets

Down

$3,223,869

Down $1,074,643 (-25%) from 2017

Liabilities

Up

$365,005

Up $306,980 (+529%) from 2017

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin1st percentile

Revenue

Down

$80,923

Down $9,877 (-11%) from 2017

Expenses

Down

$1,163,297

Down $785,442 (-40%) from 2017

Net Income

Up

-$1,082,374

Up $775,565 (+42%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth7th 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

2018

Assets$3,588,874
Liabilities$365,005
Net Assets$3,223,869
Open 2018 Filing

Operations Trend

Revenue Growth21st 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

2018

Revenue$80,923
Expenses$1,163,297
Net Income-$1,082,374
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 15, 2019
Return Version
2017v2.2
Gross Receipts
$80,923
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$4,336,001$3,555,258▼ $780,743
Accounts Receivable$10,125$28,350▲ $18,225
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$4,356,537$3,588,874▼ $767,663
Other Assets Total$10,411$5,266▼ $5,145
Liabilities
Accounts Payable and Accrued Expenses$42,778$336,655▲ $293,877
Deferred Revenue$15,247$28,350▲ $13,103
Total Liabilities$58,025$365,005▲ $306,980
Net Assets / Fund Balance
Unrestricted Net Assets$4,298,512$3,223,869▼ $1,074,643
Total Net Assets Fund Balance$4,298,512$3,223,869▼ $1,074,643
Total Liabilities and Net Assets / Fund Balance$4,356,537$3,588,874▼ $767,663
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
$80,923
Change in Net Assets
$-1,082,374

Audited Revenue Reconciliation

Revenue per Audited Statements
$80,923
Revenue Not Reported on Form 990
$7,731
Total Revenue per Audited Statements
$88,654
Total Revenue per Form 990
$80,923
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,163,297
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-$174,706-$174,706
Other Expenses$8,175--$8,175
Total Functional Expenses$988,591$174,706$0$1,163,297

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,163,297
Total Expenses per Audited Statements$1,163,297
Total Expenses per Form 990$1,163,297
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
2019-03-15
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 CPA
Phone
9512749500
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IRS990/PYTotalExpensesAmt01948739
IRS990/PYTotalRevenueAmt090800
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
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IRS990/RentalIncomeOrLossGrp/RealAmt078601
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IRS990/ReportOtherAssetsInd0false
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IRS990/RoyaltiesGrp/TotalAmt00
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt04336001
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03555258
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0498044
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0498044
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt078601
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt090600
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0176911
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt056440
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0402552
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt02322
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0200
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt010
IRS990ScheduleA/OtherIncome170Grp/TotalAmt02532
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/PublicSupportTotal170Amt0498044
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0498044
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0498044
IRS990ScheduleA/TotalSupportAmt0903128
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt01163297
IRS990ScheduleD/NetUnrealizedGainsInvstAmt07731
IRS990ScheduleD/RevenueNotReportedAmt07731
IRS990ScheduleD/RevenueSubtotalAmt080923
IRS990ScheduleD/TotalExpensesPerForm990Amt01163297
IRS990ScheduleD/TotalRevenuePerForm990Amt080923
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt088654
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01163297
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/GiftGrntOrCapContriToOthOrgInd0false
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/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04356537
IRS990/TotalAssetsEOYAmt03588874
IRS990/TotalAssetsGrp/BOYAmt04356537
IRS990/TotalAssetsGrp/EOYAmt03588874
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0174706
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0988591
IRS990/TotalFunctionalExpensesGrp/TotalAmt01163297
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt058025
IRS990/TotalLiabilitiesEOYAmt0365005
IRS990/TotalLiabilitiesGrp/BOYAmt058025
IRS990/TotalLiabilitiesGrp/EOYAmt0365005
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04298512
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03223869
IRS990/TotalProgramServiceExpensesAmt0988591
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt080923
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt080923
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04356537
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03588874
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt04298512
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03223869
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD BELMUDEZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Dir.
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-15

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,588,874
Liabilities
$365,005
Net assets
$3,223,869
Revenue
$80,923
Expenses
$1,163,297
Net income
-$1,082,374
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